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Home My WebLink About0482 . , [ c' l.ender's writte~ agreement or applirable law. Borrowe~ shall pay the amount ot ali mortgage insurance premiums in the manner provided under parag~aph 2 hereoi. Any amounts disbursed by Lende~ pu~suant to this paragraph 7, with interest thercon, shall bccome additional indeb~edness of Borrower securcd by ~his Mortgage. lJnless Aorrower anJ t_ender agree to other terms of paymeM, such amounts shall be~pSeyable upcm notice fram Lender to Bor~owcr requesting payment thereof, and shall bea~ interest from the date of disbursement at tho ratc payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which eve~t such amounts shall bear interest at the highest rate permissible u~der applicable law. Nothing contained in this paragraph 7 shall require I.ender to incur any expense or take any action hereunder. 8. lnspecHon. I.ender may make or cause to t+e made reasanable entries upon and inspectians of the Propetiy, provided that 1_ender shall gi~ Borrowcr notice prior to any such inspection specifyiRg rcasonable cause therefor related to Lender s interest in the Property. 9. Condemuntbn. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taki~g of the Property, or pan thereof, or for conveyance in lieu of condemnation, are hereby assigned anJ shall be paid to I_ender. 1n the event of a total taking of the Property, the proceeds shall be applied to the cums xcured by this Mortgage. with the excess, if any, paid to Borrower. In ~he event of a partial taking of the Property, unless Borrower and Lender o~herwice agree in writing. there shall be applied to the sums secured by this Mortgage such proportion ot the proceeds as is equal to that proporiion which the amount of ~he sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the bala~ce of the proceeds paid to Borrower. if the Property is abandoned by Borrawer, or if, after notice by I.ender to Borrower that the condemnor offers to make an award or settle a claim for damagea; Biirrower fails to respond to I_ender within 30 days after the date such notice is mailed, Lender is authbrized to collect and apply the proceeds, at i_ender's option, either to restoration or repair of the Proper~y or to the sums secured by this Mortgage. Unless I_rnder and Borrower othervvise agree in writing, any such applieation of proceeds to principal shall not extend or postpone the due d;.~e of the monthlp installments referred to in paragraphc 1 and 2 hcreof or change the amount of such insiallments. 10. Borrower )Vot Released. Eztension of the time for payment or modification of amortization af the sums secured by this MoNgage granted by-i.ender to any successor in interest of Borrower shall not operate to releau, in any manner, the liability of the original Borrower and Borrower's successars in interat. Lender shall not be req!iired to commence prc~ceedings against such successor or refuse to extend time for payment or othervvise modify amortization of the sums~ secured hy this Mortgage by reason of any demand made b}° the original Borrow~er arsd Borrower s soccescors in interest. 11. Forbeara~ce by I.ender Not a Waiver. Any forbearance by render in exercising any right or remedy hereunder, or otherwise aBorded by apPlicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. 'ilie procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the niaturity of the indebtedness cecured hy this Mortgage. 12. Remedies Cumulati~e. All remedies pro~•ided in this Mortgage are distinct and cumulative to any other right or remedyunder this Mortgage or afforded by law or'equity, and may be exercised concurrendy, independently or successively. ~ 13. Successors and Assigas Bound; Joint and Several i.iablity; Captio~. The covenants and agreements herein contained shall hind, and the riRhls hereunder shall inure to, the respective successors and assigns of i.ender and Borrower, subject to the provisions of paragraph 1 ~ hereof. All covenams and agreements of Borrower shall be joint and several. • The captions and headings of the paragraphs of this riortgage are for convenience only and are not ta be used to interpret or define tFie provisians hereof. • 14. Notice. E~cept for any notice required under applicable law to be given in another ~nanner, (a) any notice to Borrower provided for in this Mortgage shall be given hy mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower ma~~ designate by notice to i_ender as provided herein, and (b) any notice to Lender shall he given by certified mail, return receipt requested. to I.ender s address stated herein or to such other address as I_ender may~ designate by notice to Borrower as provided herein_ Any notice provided for in this Mortgage shall be deemed to ha~•c been given to Aorroweror i_ender w~hen given in ihe manner designated herein. - IS. Uniform MoriRage: Governin~ Law: Sevrrabilit~. This (osm of mortgage combines uniform cevenants for national , use and non-uniform crn~enants with limited variations hy jorisdiction to constitute a unifornt security instrument covering real property. This Mortgage shall be governed by the law• of the jurisdiction in which the Property is located. In the ~ event that any provision or clau~: of thic biortgage or the Note conflicts with applicable law, such conflict shall not affect ' other pro~•icionc of ihis Mortgage or the Note which can be given effect without the conflicting provisiQn, and to this ~ j end the pro~•isions of the Mortgage and the NMc are dcclared to be severable. 16. BormwePs Copy. Borrow~er shall bc furnished a rnnformed copy of the Nole and of this Mortgage at the time t of ezecution or after recordation hereof. ~ 17. Transfer of the,Property; Assumption. if all or an}~ part of the Property or an interest therein is sold or transferred ` b~~ Borrower without Lender's prior wriuen rnnsent. excluding (al the creation of a lien or encumbrance subordinate to s thic Mortgage. Ib) the creation of a purchase maney securi~~~ interest for household appliances. (c) a transfer by deviu. ~ descent ur by oF+eration of law~ upon the death of a joint tenant or fd? the grant of any leasehold interest of three years or less s not containing an option to purchase. I.ender may. at Lender't option. declare all the sums secured by this Mortgage to be : ~ immediately due and payable. l.ender shall have vvai~~ed such option ro accelerate if, prior to the sale or transfer, Lender ~ and the person to whom the Property ic ro be solJ or transferred reach agreement in writing that the credit of such person ~ i~ satisfactory to I.ender and that the intere,t pa~•able on the sums secured by thic Mortgage sha11 be at such~rate as Lender ~ shall request. (f I.ender has waived the option to accelerate pmvided in this paragraph 17, and if Borrower's successor in ~ interest hac executed a written assump~ion agreement accepted in writing by t.ender. [.ender shall release Borrower from all ~ obligations under this Mortgage and the Note. ~ If I.e~ider exercises such option to accelerate. [.ender tih:~ll mail Bormwer notice of acceleration in accordance with - € paragraph 14 hereof. Such notice shall provide a F+eriod o( not Iess than ip ~fa~•c from the date the notice is mailed within ~ Khich Borrow~er ma~~ pa}~ the sums decl:~red due. 1~ BorraHer faik to par such sums prior to the expirati~n of such period. ~ Lender may. v?•ithaut further n~tice or dcmand on Bormwer. ~m~oke am remcdies permitted b~• paragraph I8 hereof. a ~ Norv-Urv~FOant CovF:v~!vTS. Borrower and 1_ender further covenant and agree as follows: , ; 18. Accelerotion; Remedies. Except ~s provided in para~raph 17 hereof. upon Bormwtr's breach of any covenant or ~reement of Borrower in this :?lortga„e. includinR the covenants to pay when due any sums secu~ed by this Mortgage, Leoder ~ Qrior to scceleration s6all mail notice to $orrower as pro~•ided in paraqraph i4 hereof specifying: (1) the breach; (2) tbe actbn requirtd to cure such breach; (3) a date. not less than 30 da~s from the date the notice is mailed to Borrower. by which such breach must be cured; and (4) that failure to cure such breach on or before the d~tte speci6ed in the notice m~y resdt in acctleraNon of tbe su~ns secured by this titorigage. foreclosure by judicial proceeding and sale of the Propetiy. 'ILe notice shall further inform Borrower of the right to reinstale after acceleration and the right lo assert in the foreclosure proctediag _ the non-existence of a defauk or any other defense of Borrower to acceleration and foreclosurc. If the breACh is oot cnred on ~ or before Ihe date specified in the notice. Lender at Lender's option may declare a0 of the soms secnred by this Mort~age to be ~ immediatdy due and payable without furlher demand and may foreclose thts 14Sortgage by judicia) proctedjng. Leader shdl ~ be eotiUed to coUect in such procecding all expeoses of foreclosurc. including. but not limitcd to, reasonable attorney's tea, ~ and costs of documentary evidence, abstracts and titk reports. ' 19. ltorrower's Right to ReiostAte. Notwiths~anding Lender's acceleration of the sums sec~red by this Mortgage, " Borrower shall have the nght to have any proceedings begun by Lender to enforce this Mongage discontinued at any time @ _ ~OOK t30$ F ~ ~ 4~ ~ ~ ~ ~~Y.~" 3-~....a'~ ~B'~ r~o.~^.~.-.~`~.... ..-+x.^' . . . .r'. F.ss.~-.~~. 3~.~