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Home My WebLink About0156 \ • ~ Lender's written agrcement or applicabk law. Borrower ahali pay the amQUnt of all mortgage insurancx premiumt in the ~ mano=r providcci undc~ paragraph 2 hereof. ! . , • . Any amounts disbursed by I.ender pursuant to tha paragnph 7, with interest therecx~, shall become additional ~ incieb~edness ot Bo~rawcr securod by ~his Mohgage. Unltss BoROwe~ and I_enJer agree to othe~ tcrms ot payment, such ' amounts shall be payable upan nc~lice f~om I.ender to Borcawer reyuesting payment thercot, and shall hea~ intercst from the date af disbursement at thc ratc payahk from time fo time on outstanding principal under the Note unless paymeM ot intercst at such rate would be contrary Io applicable law, in which event such amounts shall bear interest at the highest nte pernnissibk unde~ a~plicabk law. Nothing containtd in this paragraph 7 shall require I.ende~ to incur any eapense or tdce any action hereu~der. ' s. Isspectbs. [.ender may make or cause to be made reaconable eMriec upon and inspections ot the Propetty. provided ? that l.ender shall give Barcower natice prior t~ any s~kh inspection specifying reasonabk cause therefor rclatod to I~nder'a interest in the Propeny. 9. Condcmaatbs. The proceeds of any award or claim for damages, direcl or conuquential, i~ connocta~ with any condemnation or other taking of the Property, or pan thereof, or for conveyance in lieu of condemnation. are hereby assigrrcd and shall be paid to i.ender. _ ln the event of a total taking of the Property, the pra:eeds ~hall be applied to the sums secured by this Mortgage, with the excess, if any, paid to Borrowcr. In thc event ot a partial laki~g ot the Property, unkss Borrower and Lender othervvise agrce in writing. ihere shall be applied ta Ihe cumc secured hy thi~ Marigage such proportion of the procetds ~ as is equal to that proportion w•hich Ihe amount of ~he sumc secured b~ this Mortgage immediatcly prior to the date of , taking bears to the fair maricet value of the Prapchy immediately prior lo the ~iate of taking, with the balance of the proceeds paid to Borrower. ' lf the Property is abandonecl by Bor:ower, or if. aher notice by ]_ender to Bormwer that the condemnor ofitn to make an awa~d or settle a claim far d~mages, Bormwer fail~ to res~~nd l.ender with~n 30 days aNer the date such notice is ; mailed. I_enJe~ ic authorized ta rc?Ilect a~d ~~~i~ the prc~ceeds, at 1 ~nde~ s ~ption, eithe~ to ratoration or tepair of the ' ~ Pro~e~~y or to the sums srcured h}~ Ihis INor~gagc. • ~ Unles~ Lender and Borrower atherwice agree in wrihnc. any surh applicati~n of prc~cetds to principal shal) not exttnd $ or postpone the duc date of the monthly installmcnts rcferrrd to in paragraphc 1 a~d 2 hereof ar change the amount of such installments_ ~ 10. Borrower Nof Released. Extension of thc time for payment or modifi~ :iti~~n of amortization of the sums secured ; by ihis Mortgage granted by I_ender to aoy a~ccecsor in interett of Borrower shall not ope~ate ta release. in any manner. the liabilily o( the original Borrawer and Bc?rrower'c succesti~r~ in interrt. I.enJer shall not 6e required to commence f proceedings against such successor or refuce t~ ertenJ time for payment or otfienvice mc~dify amortizaUon of thr wms ! serured by thes Mortgage by reason of ant dcmand made by Ihc oricinal Borrower and Botmwer s succescors in in~crect. ~ 11: Forbearance by Lender 1Vot a Wal~er. /~ny f«nc~aranre b}~ I.ender in erercising any right or remedy hereunder, or . othenvise afforded by applicahle law. shall not he a waiver of or p~eclude the exercise of any such right or remedy. ~ The procurement of insurance or the payment af taxec or other licns ~~r chargec by Lender ~hal) not be a waiver of i.ender's ~ right to accelerate the mafurity of the indehtednec~ securcd h~ this Mortgage. 12. Remedies Cnmulathe. All remcdiet pmvided in thic Mortgage arc distinct and cumulative to any other right nr - ~ remedy under this Mortgage or atforded by law or equi~y. and may be ezerciced concurrently. independently or succecsively. j ~ 13. Snccessors snd A~ns Bound:.loint aad Sereral LiabiNty: Captions. The covenants and agreements herein ; contained shall bind, and the rights hereunder shall imire to, the respective succecsors and assigns of Lender a~d Borrower_ _ subject to the provisions af paragraph 17 hereof. All covenants anJ agreements of Borrow~er shall be joirU and ~everal. 'iTie captions and headings of the paraeraph~ o( thic Mortgage are for convenience only and are not ta tie uced to interpret or define the pro~i~ions herc~f. ~ - 14. Notke. Except for any nolice rcyuirecl under applicable law' to be given in anather manner, (a) anV notice to Borrower provided for in this Mortga¢e shal) he given hy mailing such notice by crrtified mail addressed to Borrower at - the Property AJdress or at s~~ch other addrec; as Bc~rr~~w~er mav de~ignate by notice to T.ender as provided herein, and ~ (b) an}• notice to Lender shall he Given by ce~lified mail. return receipt reque~ted. to l ender c address stated hercin or to ~ such other address as I_ender may decignate b}~ n~tice t~. Bormwer as provideJ herein. Any notice pmvided for in this Mortgage shall he deemed to have l~ecn Fivcn to Borrowe~ ur I.cnder when given in the manner designated herein_ I5. Uniform Mort~a~e; Governin~ law; Se~erabilih•. Thi~ form of mortgage rnmbines unif4rm covenants for national ~ use and non-uniform cmenantc with limited variations h~• jurisdicti~n to constitule a uniform security instrument covering real property. This Mortgage shall be goverAed h~• thc law~ of the juricdiction in which the Property is located. In the ~ event that any prrnision c~r clau~e of ~hic Mortgage ~~r ~he Note rnnflic~c Nith applicable law~. such conflict shall not affect other provisions of this Mongage or th~ N~~te which can be g~ve~ efTect without the conflicting pmvi~ion, and to this ! end che provisions of thc Mortgagc and the Note arc ~Icclared to he severable. ~ ~ l6. Borrower's Copy. Borrower shall tx furni~hed a rnnformed cop~ of thc Note and of this Mortgage at the time of e.recution or a(rer recordation hereof. ! 17. Troasfer of the Properfr: Assumption. If ~II i~r an~ part of the Property or an interest therein i~ sc~ld or transferred ~ by Borrower without I.ender's prior w~rinrn runticnt, excluding (al the crea~ion of a lien or encumbrance suhordinate to ~ this Mortgage. Ibl the creat~on of a purcha~a: mnne~~ ~ecurit}• mterest fnr household appliances. (c) a transfer h~~ devise.. g descem or b}• operation of laK• upon Ihe dcath of a j~~~nt tcnant or (d~ the grapt of any leasehold interest of threc ~•ears or lecs B ~ not containing an option t~ purchase, I.ender ma~~, at Lender'~ apuon, declare atl Ihe sums secured by this Mortgage to be = immediatelt• due and payable. Lender ~hall h~.~e ~;,,~•ed ~u~h option to accelerate if. prior to the cale or transfer. I.ender ~ anJ the peru~n to whom the Propert~~ i. tn ~,oIJ ~~r Irans(erred reach agreement in writing that the credit of wch peraon } is satisfactory to I.enJer and that the interr.t pa~•able c?n ~he sum~ secured b~~ thic Mortgage shall be at such rate a~ I.ender ~ shall request. If I.ender has waived the opti~n ro ~ccelerate pm~•ided in this paragraph 17, and if Borrower ~ cuccessor in ~ intertst has executed a written assumption agreement accepted in writing by I_en~er. I_ender shall release Borrower from all ~ obligations under this Mortgage and the Notc. ~ if I.ender exercises such aption t~ accelerate. Lender ~hall mail Borrow•er notice of acceleralion in accord:inc~ t. ~~h ~ paragraph 14 hereof. Such notice shall provide a pericxl rf not 1es~ than 30 days from the date the notice is mailed w~ithin ~ which Borrower may pay the sams declared due. it Borrower fails to pay such sums prior to the expiratian of ~uch peri~.d. ~ l_ender may, without further notice or dcmand on linrrow~er. invokc any remedies permitred hy paragrapfi 1R hcreof. ~ NoN-Utv~FORNt CoveN~Nrs. Borrower and I.ender further covenant aod agree as follows: ~ 18. Acederation; Remedks. Excep as pmrided in pa~mph 1~ henof. npon Eorrower's brcach of sny co~enant or agreemeet ot Borrower ia thi4 MortRage, includi~ Ihe co~e~ants to pay when dae any sums secnred by thk Mort~aRe. [.ender - ' prior to actekrstbn sball mail aotice to dorrower u provided in paragraph 14 hereof specifyias: (1) tbe breach:121 the acfion required to curc snc6 breach; (3) a date, not kss than 30 days fmm the date the notice is mailed to eorrower. by wAich such ~ breach nw~t be cored; aud (4) thst failure to cure snch bresch on or before the date speciQed in the notice may recult in - ~ accelention of t6e suae secured by this Mortga~t. foreclown by judicial proceedi~ aad sak of the Pwpertr. 'il~e ootice ~ shall fnrtber inform Eorrower of the ri~ht to rcinstatc after accekration and tbe right to _isseri in the foreclosure proceedia~ ' £ t6e non-existence of s defank or any other defense of Borrower to xcekratan aod forecbsure. If the breac~ is aot cnred on ~ or before the dste speciRed io the notice. [.ender ~t I.ender's oplion may declar~e aq of tbe saa~s sec~red br this Mo~tRare to be ~ immediately due and paysbk without further demand and may foreclost tb~ Mort`a6t by jndkial proceedinR. I.ender chall ; be eaAHed fo colkct in such proceedi~ a8 expenses of forerlosure. includina. but ~ot limited to. rrasonsbk att~?rnrr's fees. f aed costs ot ~wc~~oestary evidence: s6stracls snd lilk roports. wc ~ 19. dorrowa's Rl~t to Rtiasiste. Notw•ithctandin~ 1_ender's acce{eration of the sums securcd by th~~ M,ngage. Borrower shall have the right to have any proceedmgi he~un ~y I.ender to enforce ttiis Mortgage discontinued at an}~ time , I ~ ~ eonK 310 ~ac~ 1~J6 ; ~