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Home My WebLink About0170 t.ender's writtc~ agreement or applicabk 14w. Bo~rower shali pay the amuunt of all mortga~e in:urance premiwnt in the manner provided under E•arag~aph 2 hereof. . ~ Any amounts disbi~necl by 1.enJer pursuaot to Ihis p~ra~qph 7; with intcn:st thercon. shall become addition~l ~ indebtedness of Borrawcr sccured by Ihis Mortgage. Unless $orrower and I.enJcr agrcc to other terms af payment. such ~ amounts shall Ae payabk up.ui nc~tice from f.ender to Borrower requesting payment thereof, and thall bear interest from the ' Jate of disbursement at Ihe nte payabk from time ta time on outstanding principal under the Note unless paymeot of intercst at auch rate woulJ be cantrarv to applicabk law, in which event s~kh amounts shall bear interest at the hiahest rate penniasibk uoder applicabk law. Naihing cantained in this parag~aph 7 shall require I.ender to incur a~y expense or talce any action henunder. S. /~spectio~. I.e~der may make or cause to be made reasonabk entries upon and inspeciions of the Property, provided that i.ender shall give Borrawer nc~tice prior to any cuch inspectian specifying reasonable cause therefor related to Lender's ~ interest in the Propeny. ; 9. Condemastba. The proceedc of any award a~ claim for damages, direct or consequential, in conneclion with any ~ condemnation or other taking of the Property. or part thenrf, or for conveyance in lieu of condemnation, are heroby assigned ~ and s:~all be paid to Lender. ~ ln the event of a total laking of the Pmperly. ~he prcxeeds ~hall be applied to the sums sccored by this Morigage, with the ezcess, if any, paid to Borr~wer. In thc cvcnt ot a par~ial taking of the Property. unless Borcower and I.ender ' oth~rwise agret in writing, therc shall be applied to the cumc secured by this Mortgage such proportion af ~ht proceeds ~ as is equal to that proportion K~hich the amount of ~he cumc cecurcd hy thic MoAgage immediately prior Io the date.of ~ taking bears to the fair market value of the Pre.perty immediately prior to the date of taking, with the balance of the proceeds ~ paid to Borrower. . ' If the Property is ahandoneel by Bor;owe~, or if. after notice by I.ender to Borrawer that the condemnor ofters to malce ~ an award or utNe a claim for damage+. Born.wer f~il. to rrspnnd to I.ende~ within 30 days after the da~e such notice is mailed. Lender ic autharized to collec~ aRd app~y the prcueeds. at l.ender's option, either ta rcstoration ar repair of the ProFcrty or to the sums scc~red h~• thic Morte•r~rc. ~ Unless 1_enckr and Borrower otherwise agree in a~rihnc_ any such application af proceedc to principal shall not extend ~ or pcxtpone the due date of the monthly ins~allmcnts rcfcrrcd to in paragraphs 1 and 2 hemnf or change the amaunt of such inslallments. 10. Eorrower Not Releascd. Extension of the ~ime for payment o~ modification of amortization of the sums securcd by this Mortgage granted by i enJer t~ any ~ucces~r in imere~l of Borrower chall nrn ope~ate ta release, in any manner. ~ the liability of the origioal Borcower and Rc?rrower'c succes~orc in interest. l.ender shall not be required to commence proceedings against such successor ar refuce to ertenJ ~ime for payment or otherw•ice modify amortizat~on of the wms ; secured by Ihic Mortgage ~by reascx~ of :~n~ demand m~de b~~ the orieinal- Borrower rnd Rorrower s succescors in intercct. ~ 11. Rorbearanee by Iander Nof a Waive~. An?• f~rhearancr M- l.rnder in etierci~ing any right or remedy hereunder, or ? otherwise afforded by applicahle law. shall not be a waiver ot or preclude the exercise of any such right or remedy. ' The procurement of insurance or the payment of ta~es or other lieos or charges hy l.ender shall not be a waiver of 1_ender s ~ right to accelerate the maturity of the indehtednecs u;cured M• thic Mortgage. ~ 12. Remedks Cnmuhtire. All. rtmedics prm•idcd in thic Mortgage arc distinct and cumulative to any othe~ right or ~ remedy under this Mortgage or afforded hy law or equity. :mJ may be erercis~d concurrendy, independently or suc<essively. ~ 13. Saccessors and Ass~as Boot~d:.]oinl and Sereral f.i~bility; Captions. The covenants and ag~eemen~s herein ~ 3 contained shail bind, and thc rights hereunder shall inure ta. the respective successors and assignc of I_ender and Borrower. ~ subject to the provisionc of paragr3ph 17 hcrcof. All covcnants and agreement~ of Borrou~er shall be joirµ and several. The capti~ns and headings of the paragr~phc of thic Mongage are for convenience only and are not to he uted to interpret or define the provisions hereof_ 14. Notice. Except for any notire rcyuired unJcr applicaMe law to be given in another manner. (a) any notice to j Borrower provided for in this Mortga~e tihall he given hy mailing such notice by certified mail addressed to Borrc.w•er at the Property Address or at such o~hcr addres, as Burr~~w-er mav decignate by notice to i.ender as prrnided hercin. and ~ (b) any notice to Lender shall he gi~~en hy certified mail. return receipt requested. to Lender't address stated herein or to such other address as Lender may de~icnate b~• ~~tice tc. Borrower as pro~~ided herein. Any noti:e provided for in this a Mortgage shall be deemed to h3vc hc~:n ~ei~~cn to Hc~rrowcr ur I.cnder when given in the manner designated herein. _ 15. Uniform Mori~aRe; Governin~ Iaw: Se~crability. This form of mortgage combines uniform covenants for national use and non-uniform rnvenant. with limitcd variations h~• juri~diclion to constitute a uniform security instrument cavering < j rea) property. This Mortgage shall be governrd hv the lavr of the jurisdiction in which the Property is located. In the ; ~vent that any provision or clauce of thic 1~tortg~ee ~~r the Note rnnflict~ uith applicahle law. such conflict shall not affect _ ; other provisions of this Mortgage or the N„~~ ..hich can be given eQect withoiei the eonflicting provi~ion, and to this ~ i end the provisions of thc Mortgage and the Vote arc ~Ierlared to he severable. ' 16. Borrowe~s Copy. Borrower ahall tx furni.heJ a cnnformed cop} of the Note and of thic Mortgage at the time of execution or after recordation hereof. - ' 17. Traasfer of the Propertv: Axsumplion. If ali ~.r am• part of the Property or an interest therein is sold or transferred i a by Borrower without I~nder's prior wrinrn cuncent. e~cluding (al the creation of a lien or encumbrance subordinate to ~ this Mortgage. (b1 the creat~on of a purch3.r mnnr~• ~ecurit~• interest fc?r household appliances. (cl a trancfer M• devise. descent_or by operation of law i~pon the death of a i~~mt tenant or (d? the grant of an~• Ieasehold interest of three yearc or less ~ not containing an option to purchase, Lender may. at I.ender's option, declare all the sums secured by this Mortgage to be ~ immediately due and payable. I.ender chall ha.r wa~r~d surh option ~o accelerate iL prior to the cale or transfer. I_ender a anJ the person to whom the Property i~ a~ br :ol.l ~.r trancferred reach agreement in writing that the credi~ of ~urh person ~ is satisfactory to Lender and that the interr.t pa~•able ~+n the sums secured by thic Mortgage shall be at such ra~e a~ l.ender ~ shal) request_ If I_ender has waived the optian to accelerrte pro~ided in this paragraph 17, and if Borrower'~ ~uccessor in ~ interest has exocuted a written assumption agreement accepted in writing by T.enekr, Lender shall releace Borrower from all = ~ obligations under this Mongage and the Note. - ~ If Lender exercises such option tn accelerate. LenJer ~hall mail Borrow~er notice of acceleration in accordanc< ~~h ~ paragraph 14 hereof. Sueh notice shall provide a pericxi of not Iess than 30 days from the date the notice is mailed within ~ which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of cuch pcri~xl. ~ Lender may, without further notice or demand on Bc~rrowe~. invoke any remedia permitte~i hy paragraph IR hercof. ~ , NoN-UN~FOtetrt CovENe?vrs. Borrower and I_ender funher covenant and agree as follows: ~ ~ l8. AcceleMioo; Remedia. Except as pmrided in para~raph 17 hereof. upun Eorrowe~s breaQb of sny covenant or agreemeot of Borro~+er ia this MortR~e. includin~ 1he co~enants to pay wben dne aey snms secared by this Mort~a~e. I.ender " prior to accekratioo sl~aU mafl notke to dorrower as provWed in para~rapA 14 hereof specityios: (1) the bresch: 121 the action ~ reqvired to care soch breach; (3) a date. not les than 30 davs fmm tbe date t6e notice is mstled to Eorro~?er. by which such breach must be cored: aod (4) that failnrc to cure such breacb on or before the d~de specified ie the nolice may recuft in ~ secderattoa ot tbe sdms secand by this Mortgage. toreclosure by judicfd proceedi~ snd sak of tbe Pmperty. 'Il~e notice shall fudhcr inform Eorrower of thc ri~ht to reinstate sfter accckratbn and tbe rigbl to a~aert ia the forecbsure proceedit~ - the aon-existence of a defa~t or any other defense of Borrov?er to accekrstion and foreclosurr. if the breach is oot cnred on ' or betorc the dste speciBed ie tbe notke. Lender at I.ender's option may deelar~e s~ ot tbe sums secnnd by this MortRa~,e to be ~ immedistely due and payabk withodt fe~lher demand and m9y forecbse thk MortRs~e by judicial proceedjn~. T.ender chall be eotitled to cdlett in socb proceedi~ a8 espenses of foreclosure, includiu`. bnt nof limited to. rtasonsbk att~xnr r's fees. ~ asd costs of ~wc~Aeetary erideuee. abstrse~c aod Iitk reports. 19. dorrowe~'s Ri6~t to Re~tste. Nc~tw~ithc~andin~t l_ender's accderation of the sums secured by th~• Mongage. ~ Bonower shall have the right to have any proceedmg~ he~~m ~y I.ender to enforce this Mortgage discontinued at any~ time 3 eo~~ 310 PAGE 1?0 ~ ~