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Home My WebLink About0178 l.ender's written agrccmc~t or applicabk law. Borrowo~ shali pxy the amuunt af all mortgaRe insurance pRAlfulbs in the manne~ providcd under ptngraph 2 he~eot. Any amau~ts disbuned by I.enJe~ pursuant ~o ~hSs paragraph 7, wi~h intcrest thereon, shall bccom~ additional inJeb~edness of Bor~awc~ securcd hy Ihis Mortgage. Unlecc Barrawer and I.rnJcr agrcc to other terms of payment, such amounts shall be payable upon natice from l.ender to Borrower ~eyuesting payment therec~f. and chall F~ear interest from the date of disbursement at the rate payablc from timc ta time on outstanding principal under thc Note u~less payment of interest at such rate would be contrary t~ applicable law, in which event such amounts shall bear interest at the highest nte pennissibk uoder applicabk law. Nothing contained in Ihix paragraph 7 shall require I.ender to incur any expense or tate any action hereur~der. 8. IsspecHon. i_enckr may make or cau~c to be made reasonahle entriec u{x~n and inspections of the Property, pmv~ded that l.ender shall give BaROwer noti~r pri~~r to any such inspection specifying reasonabk cause therefor relatcd to Lender's interest in thc Propcrty. 9. Condemnation. The prcxcedc of any award or claim for damages, direct or consequcntial, in connection with any co~demnation or other taking of the Properly, or part thercof, or for c~mveyance in lieu of condemoation, are hereby assisned and s:~all be paid to i.ender. • )n Ihe event of a latdl taking of the Pmpeny. the prcxeeds ehall be applied ta the sums secured by this Mortgage. with the eYCess, if any, paid to Bormwcr. ln thc cvcm of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing. ~here shall be applied to ~he cums secured by thic Mortgage such proportio~ of the proceeds as is equal to that proportion w•hich the amounl ~d ~hc sum~ xYUred hy this Mortgage immediately prior to the dite of ` taking bears to the fair market val?~e of ~he Pmpc~ty immediately prior to the date of taking, with ihe balance of the procceds paid to Borrowe~. if the Propetty is at~andoneJ by Bor.ower. or if. after n~tice hy I.ender to Borrower that the condemnor otiers to make an award or settle a claim for Jamage~, Burrower faih ~a re.x~nd to I.ender wilhin 10 days after the d~l~ soch natice is mai)ed. Len~ler ic authorized ro coltect nnJ apph• ~he proceeds. at l.ender c option, either to restoration or repair of the P~aper~y or to the sun~.a sccured hr thi~ Mor~eaec. UnFesc l.ender and Bo~rower othenvice agree in ~erihne. an~• such application of pr~xeeds to principal shal) not extend ar pcxtponc thc due da~e of thc monthh• installmcnts rcferrcd to in paragraph~ 1 and 2 hereof or change the amount of surh installments. ~ l0. Borrower Not Released. Exten~ion of the time for payment o~ mc~dification of amortizalion of the sums secured by this Mongage granted by I.enJer to any a~ccecsor in intercc! of Borrower shall not ope~ate to release. in any manner. the liabili~y ~~f the ori¢inal Borrower and. Bormwer'c succesa~rc in interest. I_ender shall not be required to commence proceedings agai~st such successor or refuse to ertenJ time for payment or othen~•i~e mc~dify amortizahrni of thr wms secured hy thic Mortgage by reason o( an}• demand made b~~ the orieinal Borrower and Borro~•er s succescors in interec~. 11. Forbearance by Ixnder Not a Wai~•er. :1m• fc?rhearancr h~~ 1 ender in erercising any right or remed~• hereunder, or othervvise affordeel hy applicahle law. shall ne?t he a waive~ ot or preclude ~he exercise of aoy such rigM or remedy. ~ The procurement of insurance or the payment ot ta~es or other liens or charges by I.ender ~hall not be a~aiver of I.ender's right to accelerate ~he ma~urity of the indeMedne~s ~ecurcd M• thic Nortgage_ 12. Remedies Cnmulpti~t. All remedies ~ro~•ided in thi~ 1liortgage •rrc distinct and cumulative to an~• other right or remedy under this MortRage or aftorded by law or equity, anJ may be e~erciced con~urrenHy. independenN}• or suc~_ecsively. ~ 13. Snccessors and Assi~~ Boond; .Joinl and Se~eral I.ial?ilify; Captions. The covenants and agreemen~s herein contained shall bind, and Ihc riRhts hereunder shall inure to. the rccpective succe~sors and actigns af I.ender ac~d Borrower. subject to the provisionc of paragraph 17 hereof. All covenants and agreements of Borrower shall br join~ and several. The captions and headings of the paraeraphc, af ~hic Mortgage are for convenience only and are not to he used to interpret or de6ne the provisions hercof. . l4. Notice. Except for any notire rcyuired undcr applicable law• to be given in another manner. fa) any no(ice to Borrower pro~ided for in this Mortga~e ~h~ll he given h~• mailing such notice by certified mail addretted to Borr~~•er at the Property Address or at such o~her addrr~, :~s B~~rmw~er mav de~ignate b}~ notice n. i.ender as provicied herein. and (b) any notice to Lender shall he givcn h~~ certificd mail. rcturn receipt reques~ed. to I.ender'~ address ~tated Aerein or to i such othcr address as I.ender may decienate M~ n~tire t~• Borruwer as pmvided herein. Any notice pmvided for in this i Mortgage shall be deemed to ha~•c hcen Fi~•en to R~~rrow•cr ur Lcnder w~hen given in the manner designated herein. 15. Uniform MortRa~e: Governin~: I.aw; Se~erabilit~•. 'This form of mortgage combines oniform covenants for national ' i~se and non-uniform rnvenant~ with limited variationc h~~ juri~di~lion to constitute a uniform security instrument rnvering ~ real properry. 'iTiis Mortgage shall be governed h~~ thr I~w~ of the juricdiction in which the Property ic Iocated_ in the ' event that any provision or clauce of thi. Mc~rtgaec ~~r ~he i~i~te conflictc ~ ith applicahle law•, such conflict shall not afTect ~ other provitions of this Mortgage or the ~V~,te ~hinc ~an Ix given effect wi~hout the conflicting provi.ion, and to this ~ end the prmisions of Ihc Mortgagc and the Vote arc ~Irrlared t~~ he severable. ~ 16. Borrower's Copy. Borrow•cr shall F+c furni~hcJ a ronformed rnp.: of thc Notc and of this Mortgagc at the time ~ of execution or after recordation hereof. ~ 17. Transfer of the Property; Accumplion. If all i~r an~• part of the Pmperty or an interest thcrein is sold or transferred ~ by Borrower without I.ender's prior writt~n .uncent. c~cluding (al the creation uf a lien or encumhrance subordinate to this Mortgage. (b) the creahon of a pur.-ha.r m~~nr~ ~ecurit)• interest f~~r household appliances. (cl a trancfer he devise. ; descent or by operation of law• upon thc dcath ul :i i~~~nt tenant i~r (d1 the grant of am• Icaschold interesl ~f thrce )•cars or less ~ not containing an option to purchase. Lender ma}~. a~ I.ender'~ option. declare all the sums secured hy this ~lortgage to be g immediately due and payable. I.ender chall hacr N;,,~•rd wrh option to accelerate if, prior to the ~ale or transfer. I.enJer ~ and the person to whom the Property i. t~~ hc :~~I.1 ~.r tn~nsferred reach agreement in writing that the credit of ~urh person ~ is satisfactory to Lender and that the interr.t pa~ahle ~•n the sumti ~ecur~d b}~ thi~ Mort¢age ~hall be at such rate a~ l.ender ~ shall request. If I.ender has waived the op~i<~n to ac~elerate pmvided in this paragraph 17, and if Borrower'~ successor in ~ interest has executed a written assumption agreement accepted in ..riting by I_ender, Lender shall relea~e Borrower from all ~ obligations under this Mortgage and the Note. ~ if I.ender exercises such option tn aceclera~e. I.ender tihall mail Borrower notice of acceleration in accordancc i~h ' paragraph 14 hereof. Such notice shall prc~vide a Ex.ri~xl ~~f n~~t Ies~ than 30 days from the date the notice ic mailed Kith~n ~ which Borrower may pay the sums derlared due. I( Borrower failc to pay aich cums prior to the expiration of such penixl. ~ Lender may, without further notice or demand on Horrower. invc.kc an}• remedies permitted hy paragraph 13 hereof. ~ ~ - Notv-UtvtFOrtnt CoveN~nrs. Bonower and I.ender (urther covenant and agree a5 follows: - 18. Accelcration; Remedies. Except as provided in para~raph 1~ hereof, upon Borrov?er's breach of any covenant or = agreement of Borrower ia this Mortga~e. including the corenants to pay v?I~en due any sums secnred by this Mort~age, i.ender f prior to acceleratan shall mail notke to Borrower as pro~•ided in para~raph 14 l~ereof specifyia~: (t) the breach;121 the action = reqoired.to cure soch breach; (3) a date. not kss Ihan 30 days from the date the notice is maikd !o Borrowcr. by which such ; brtach must be cored; and (4) that failure lo cure such breach on or before Ihe date speci6ed in the notice may resWt in aceekratioa of tbe suu~s secured by this Mort~a~e. toreclosure by judicial procceding and sale of the Property. The notice sha{I further inform Botrower of the rq~ht to reinctate afler accekratan and the ri~ht fo usert ia fhe foreclosure proceediu` tl~e non-exastence of a default or any olher defense of Borrower to acceleration and foreclosure. If the breach ic not cored oa ~ or before the dale speci6ed in the notice. i_ender at 1_ender's option may declarc all of the sums secured by this MortRsrt to 6e ~ immediately due and payable withoul further dem:,nd and may foreclose tbis Mortga`e by judicial proceedinR. 1.ender chall bt totided to co0ect in wch procteding all expenses of foreclosure. includiag. but not limited to. nawnable : tt~,rnr1's fees. a ~ aad costs of wrco~oentary evidence, abstrac/s and title reports. ~ I9. Borrowt~'t Right to Reinstate. Notwilh~~andsn~t Lender's acceleration of the sums secured by thi~ M.~rtgage. " Borrower shall have the right to have any prcx:ecdmg+ tx~un ~y I.ender to enforee this M~rtgage discontinued at an~• time z ' SOOK t~O$ ~AGE 1, ~ ~ ~ - ~ P... ~ . . . _ . ` . ..j :2{