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Home My WebLink About0163 J I t.ender i written agrceme~t or applicabb law. Borrowe~ shali pay the amount of rll mortgage insurance prcmiutm in the man~er providcd u~der paragraph 2 hereof. ~ llny amounts disbucsed by I~nder pursuant to this paragnph y, with intercst thercon, shall become additional inciebtedncss of Bor~ower securcd by Ihis Mongage. Unless Borrower and l.e~Jer agree to other terms uf payment. such amounts shall be ps~yabk upoo nc~tice from I.ender to Borrowc~ requesting payment thereof, and zhall bear interest from the date of disbursement at the nte payabk from time to limc on outslandir~a principal unde~ the Note unle.u payment of interest at such rate would be co~tnry ta applicable law, in which event such amounts shall hear interest at the highest rate permissibk ur~der applicable law. Nothing cantained in Ihis paragraph 7 shall requine I.ender to incur any expense or tal~e any action hcreunder. S. Inspectba. l.ender may make o~ cause ta be made reawnable entriec upon a~d inspections of the Property, provided that l.ender shall give Borrawer nc~lire pri~~r to any such inspection spocifying reasooabk cause the~efor related to Lender's interest i~ the Propcrty. 9. Coademualiou. The prc~ceedc of any award or claim tor damages, direet or consequential, in connectioo with any condcmnatian or ather tak~g of the Pre~pe~ty, o~ pan thercof, or for convcyancc in licu of condemnation, are hertby assigr~ed and s:~all !~e paid to I.ender. ~ In the event of a tota) taking of the Pmperty. 1hc prcxecJs ~hall he applied to the sums secured by this Mortgage, with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, ~mless Borrower and I.ender othervvise agrce in writing, there shall be applied to the cumc secured b~ this Mangage such proportion of the proceeds as is equal ta that proportion w•hich ~he amount of the sumc cecured by this Mortgag~ immediately prior ta the date of taking bears to the fai~ market value of the Proper~y immediately prior ta the Jate of taking, with the balance of the proceeds paid to Borrower. if the Property is aMandoneel by Bor:ower. ar if. atter notice by i.ender to Bormwer that the condemnor offers to malce an award or settle a claim for damages. &~rmwer f~il. to resx~nd to l.ender within 30 days after the date such notice is mailed. LenJer ia authorized ta collect and apply ~he proceeds, at 1.e~der's oplion, either to restoration or repair of the Propeny or to the sum. sccured M• thic Morlgage. Unlesc l.ender and Borrawer ather.vice agree in ~~rit~ne. any such application of prckeeds to principal shall not extend . or pcxtpone the due date of the monthly inctallments referrrd ta in paragraphs 1 and 2 hereof or change the amount of such installments 10. Borrowe~ Not Rekased. E~xten~ion of the time tor payment o~ modification of amortization of the sumc secured by lhis Mortgage granted by l.e~der tn any cucce~x?r in intercct of Borrower shall not ape~ate to release. in any manner: the liability of the original Borrower and Borrower'~ succes~rc in interest. i_ender shal) not be required to commence proceedings against such suttessor or rcfu~e Io ertenJ time for payment or otherWise modify amortizat~un of the .ums secured by this Mortgage by reason of any demand mrde b~~ ~he ~rieinal Borrower :~nd Borrower s suceescorc in interest. - 11.' Forbearance by I.ender Not a Wai~~er. Am~ fi~nc~aranrc hy Lcnder in crcrcising any right or remedy hereunder. or otherwise afforded by applicahle law, sh~ll nM he a waiver o( or preclude the exercise of any such right ar remedy. The procurement of insuranee or the paymcnt of ta~cs or other liens or charges by I.ender chal) not be a waiver of I.ender's right tc* accelerate the mawrity of the indehtednecs ~eci~rcd h}~ thic Mortgage. I2. Remedks Cumulati~t. All remedies provided in thic Mortgage arr dislinct and cumulative to any other rigM or rcmeJy under this Mortgage or afforded hy law or eyuity, and may he e~erciud concurrcntly, independently or suc~.essively. ~ 13. Successors and Assi~ns Bound: Joint and Sereral I.iability; Captions. The cove~ants and agrcemcn ~s hcrein conlained shall bind, and the rights hercunder shali inure to, the respective succe~sors and assigns of i.endtr :.od Rorrower_ sub}ect to !he provision~ of paragraph 17 hereof. All covenants and agreements of Borrower shall he jniry and ~everal. The captions. and headings of the paragraphc o( thic Mortgage are for convenience ~nly and are not t~ he used to interpret or define Ihe provi~ions hereof_ 14. Notke. Except for any natice rcyuired under applic•rble law• to be given in another manner. (al any notice to Borrower provided for in thic Mortgage shall be givrn hy mailing such notice by cer~ified mail addresced to Bormwer at the Propetiy Address or at such ~Hher addres. as B~~rrc?wer ma~ designate b•r notice to Lencler as prmided herein, and (b) any notice to Lender shall he givcn hvi cer~ified mail. return receipt requested. to Lender's address stated herein or to j such other address as Lender may dc~ienate b~• n~tice to B~rma•er as pro~•ided herein. Any noticc provided for in this ~ Mortgage shall be deemed to havc F~ecn Fivcn to B~rmwer or 1_cnder when given in the manner designated herein. i 15. Unifo~m MoriRa~e: Governin~ I.a~•; Se~•eraMlih•. This form af mortgage combines uniform covenants for national ~ use and non-uniform covenam~ with IimiteJ vanalions M juricdiction to constitute a oniform security instrurr.ent covering ~ real property. This Mortgage shall he governed h~• thc law o[ the juritdiction in which the Property is lc~cated. In the ; event ~hat any provision or clauce of thi~ Mortc~ee ~•r the Note conflicts with applicable law, such conflict shall not affect € other provisions of this Morigage or thr N~~tr which can tx: given efiect withoi:t the conflicting pmvicion. and to this ~ end the provisions of thc Mortgage and the Notc are declarcd to he severable. , 16. domower's Copy. Borrow•er ~hall Fx furni.hed a a~nformtd cop} of thc Notc and of this Mortgage at the time ~ of execution or after recordation hereof. ~ 17. Transfer of the Propertv: A~.sumplion. If all ~~r am part of ~he Pr~iperty o~ an interest therein i~ sc~ld or transferrcd by Borrower without Lender's prior writirn c.?mem. e~cluding (al the creation of a lien or encumbrance sutwrJinate to ~ this Mortgage, (b) the creation of a purch:~~c m~~nr~~ kcuri~y interes~ f~r household appliances.. Ic) a!ran~(er h~~ de~•ise. clescent or by operation of law• upon the dcath c.f a i~~~nt tenant ar (dt the grant of an1• leasehold interest of threc years or lecs not containing an option ta purchase. [.ender may. I.ender's option, declare a's~ :he sums secured hy this Mortgage to t?e immediatelp due and payable. Lender shall have Na,.•ed ti~ich option to accele~ate if. prior to the ~ale or transfer. Lender ~ and the person to whom the Property i. tu t+e .oIJ ~,r tran~ferred reach agreement in w•riting that the credi~ ~~f wch percon < is satisfactory to i_ender and tha~ the interr.t pa~•able on the sums secured by thic Mortgage chall be at such rate ac 1_ender ~ shal) request. If I.ender has waived the option to acceler~te provided in this paragraph 17, and if Borrower'~ tuccessor in ~ interest has executed a written assump~ion a~reement accepted in writing by I.ender, Lender shall releace Borrower from all - ~ obligations under this Mortgage and the Note. ~ lf I_ender exercises suc!? option t~ acceterate. Leniler.~hall mail Borrower notice of acceleration in acrnrdancr ~.;th - paragraph 14 hercof. Such notice shall provide a perioJ of not Iesa than 30 days from the date the notice is mailed within ~ which Borrower may pay the sums declared due. If Borrower fails to pay soch sums prior to the expiration of wch pen~xl. ~ Lender may, without further notice or dcmand on Borrov?cr. invoke any remedies permit~ed hy paragraph 1R herci~f. H ~ ~ Notv-UN~FORtit Cove~~NTS. Borrower and !_ender funher covenant and agree as follows: 18. Accekratbe; Remedks. E:cept a6 pmvided in para~raph 17 hereof, opon Borrower's Dnacb of any covenant or ~ a6reemeat of Borrower ia th~t Mortgs~e. including fhe corcnants to pay when due any snms secored by this Mort~s~e, I.ender z Prior to accekratba shall mail aotke to Borrower as pro~ Wed in paragraph 14 hereof specffyiea: (1) the bresch; 121 tbe aNan ~ reqofred to core sacb breacb; (3) a datt. not ks Ihan 30 days from the date tbe notice [s mailed fo Sorrowtr. by .rhich such ' breach mmt be crred; aad (4) that failure to cure s~ch brcach on or before the date specified ia the notice may result in ~ acce{eration oE t~e snms secured by th~s MortRs~e. torecbsure by jadicial proceedf~ and sak of the Property. 71~e notice ~ shaU fnrlber inform eorror?er of the reRht to rcinstate after accckrotbn and tbe right to assert in the toreclosuro proceedie~ ; 1he aoe-existeeee ot a detwN or any othcr dcfense ot Borrower to accekration and forecbwre. If the brcxh is not cored on ~ or before the date specified in tbe notice, Lender at i.ender's option m'y declue sq of the snms secored by this Mo~tgsr,e to be ` ~ immediately due aed payabk withaut further demand ~nd may toreclose t6is Morl~a=e by judicW proceedia~. I.end:r cha11 f ~ l+e eotitled to coUect L~ s~ch proceedin~ aq expenses of forcclosure. Incladio~, bat oot I~mifed to, rc~sonabk aftoroi ;'s ftes, ~ and eosts of w~co~aeMary evldence. abstrscts and tiik reports. ~ 19. donor~e~'s Ri`bt to Reinstste. Notwith~tanding l.enders accelerat~on of the sums securcd by th~~ M.~rtgage. ~ Borrower shall have the right to have aoy procecdinF~ hc~un ~y I.ender to enforce this Mortgage discontinued ~t any time ~ s~~K~~O ~~~E 163 ~ ~ ~ ~ ~ ~ -