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Home My WebLink About0399 Lender's written agn:ement or applicabk 14w. Borrower shali pay the amou~t of all mortgage insurance premiums in the manncr provided undc~ parag~aph 2 hereof. • Aoy amounts disbursed by I.enJer pursuant to this para6raph 7, with inlerest thercon, shal) becon?e additional inciebtedness of Borrower secured by Ihis Mortgage. Unlecs Borrower and 1_enJer agree ta other tenns of payment, such amcxmts shal) be payabk upon notK-e f~om'i.ende~ to Borrowcr requesting payment Ihcreot, and shall l~ear inlerest frnm the date of disbursement at the rate payahk f~am time to time on o~dstanding principal under the Note unless payment of . interest at such rate would be contranr to applicable law, in which event ~uch amounts shall bear interest al the highest rate permissible under applicable law. N.ithing canlained in this paragraph 7 shall require I.ender to incu~ any expense or take any aclion hereunder. 8. laspectbn. i.enJer may make or cause to be made rcasanable entriec u~n and inspectians of the lkoperty, provided that l.ender shall give Borrower nMire prior ta any such inspectioo specitying rcasonable cause therefor related ta Lender's i~terest in the Propetty. 9. Condemaation. The prc~ccedc of any award or claim for damages. direct or consequential, i~ connection with any condemna~ion or otfier taking af the Property. or pan ihe~ec~f, or fo~ conveyance in lieu of condemnation, a~e hereby astigned and shall be paid to l.ender. In the event of a total taking of the Pmpeny, the prcx:eeds chall he applied to ~he suma secured by this Mortgage, with Ihe exctss, if any, paid ta Borrower. -lo thc evcnt of a partial taking oi the Property, unless Borrower and Lendcr otherwise agree in writing. therc shall be applicd to the sumx securcd M thic Mortgage such proportion ot the prcxYeds + as is equal to that proponion w~hich Ihe amount of the sumc secu~ed by this Mortgage immediately priar to ihe date of taking bears to the fair market value of the Pn?perty immediately prior to the Jate of taking, with the halance of the proceeds paid to Borrower. lf the Property ic abandoned by Bo~:nwer, or if. after notice hy I.ender to Borrower that the condemnor offers to make an award or seule a claim for damaget. Be~rmwer fail. to n-spnnd to l.ender within l0 days aher the dale such notice is mailed. I.ender ic authorized to rnllect ared apply the proceeds. at l.ender't ~p~ion, either to restoration or repair of the Property or t~ the sumti sccured b~• this Murtg•rge. Unlesc t.ender and Bormwer othetwiu agree in w•rihne. any such application of proceeds to principa) shal) not exlend or postpone the due date of the mon~hlv in~tatlmcnts rcferrcd m in paragraph~ 1 and 2 hereof or change the amaunt of , wch installments. 10. Borrewer Not Released. Extension of the time for payment or modification of amorlization of the sums secured by this M~rtRage granted by i.cndcr t~• an~ ~uccccu,r in in~crect of Borrower shall nM ope~ate to releasc. in any manncr. the liabihty of the origi~al Borrower and Ri~rrower'~ sucressora in interest. l.ender shall not he required ti~ commenee pmceedings aga~nst such suc~:essor or refu~e t~~ e~tenJ time f~r payment ~,r otherwise mc~dify amortization of thr .ums se~;ured by this Mortgage by reason of am demand made by the orieinal Rorr~wer and Borrowers saccecaorc in in~cre~t. 11. Forbearance by I.ender Not a Wairer. Am~ fc.rtxarancr h~• I.ender in crercising any rigM or remedp hereunder, or othenvise afTorded by applicahle law. shall not be a waiver of or preclude the exercise of an}~ such right or remedy. The procurement of insurance or the payment of ta~es c?r other liens or charget b~~ I.ender shall not he a aaiver of I.ender s right to aecelerate the maturity of the indeMedne~s cccured h~• thi~ MortgaEC. 12. Remedtes Cumulative. All remedies prorided in thic 1?longage are dictinct ~nd cumulative to any other right or remedy under this Mortgage or afiorded hy~ law• or equity. .~nd may be e~erciced rnncurrently. independently ar s«ccecsively. ' 13. Successors and AssiRas Bound: Joint aad Se~-eral I.iability; Captions. The cavenants and agrcements herein contained shall hind, and the riRhts hen:under shnll inurc to. the rcspective successors and assigns of I.ender and Borrower. subject to the pmvision~ of paragraph 17 hereof. All co~~cnants and agreemcntc af Borrow~er shall hc j~~ir~ :~nd ceveral. The captions and headings o( the paracraph~ ~f ~hic Mortgage are for convenience only and arc nut to he used to interpret or define the provisionc hereoL 14. Notice. Except for any notice rryuired unJer applicahle law to be given in another manner. fa1 an~~ notice t~ Borrower ~rovided for in this Mortgage sh~ll tw given h~• mailin~± cuch natice h~• ccrtified mail addresced to B~rr~H•er at the Property Address or at such o~hrr addre~. as R~.rmwer mav designate bt• notice to I.ender as pm~•ided hercin. and li (b) an}• notice to Lender ~I~ail t~e gi•.•en b~ eertified mail. reti:rn receipt requeated. to t ender c address stared her~in or to I such other address as I.ender may decienate b}• n~tice t~? B~rmwer as provided herein. Any notice provided for in this ~ Mor~gage shall be deemed to havc I~ecn F~ven to Rorro~~rr ~~r l.cnder when given in the manner designated herein. ~ I5. Uniforr:~ MortKa~e; Covernin~ tav?; Se~~errMlily. Thic form of mortgage combines uniform covenants for national ~ use and nomuniform cmcnantc with IimiteJ ~•ariations b~• juri~di~ti~in to constitute a oniCorm security instrumenl rnvering ; real property. This Mortg:+ge shaq be grnerned M• the lav?~ of the juricdiction in which the Property ic located. In the event tfiat any provision or clauce of thic M~rtg~ge ~~r the Note ronflicle wi~h applicable law. such conflict shall not affect ~ other provisions of this Mortgage or the Notr which can he given efTert withbi:t the conflicting pmvi~ion, and to this ~ end the pmvicions of the Mortgage and the '~otc an ~Irclared to he ceverable. ~ 16. Eorrovrer's Copy. Borro~er shall tx furni.heJ a a~nformed cop;. of the Note and of thic Mort~tage at the time ~ of ezecution or a(ter recordation hereof. ~ 17. Transfer of the Propertv; 4ssumplion. If all ~•r am~ {+an af thc Pr~~pert}• or an interest ~herein i~ a~~ld ar tranaferrcd by Borrow~er without Lender's prior writ~cn ~~~nkm. r~cludeng lal the creatian of a lien or encumhrance suborJinate t~~ this Mortgage. (b) the creat~on of a purch.~.~ m~~n~c Krurity interest fc?r hoitseholJ appliances. (c1 a trancfer h~• de~~ise. descem or by operation of !aw• upon the dcath ~~f a i~~~n~ tcnant or ld? the grant of an~~ Ieasehold imerest of threc ~•ra~s or lecs not containing an option to purchase. 1 ender ma}, at Lender'. option. declare all the sums sect~red by this Mortsage tc? Me ~ immediately due and pa}•abie. I_cnder ch;;ll ha~c ~:u~cd ~uch option t~ accelerate if. prior to the cale or transfcr. I.ender and the person to whom the Propert~• i. t~. tx :~I.I ~.r transferred reach agreement in wnting lhat the credil rf ~uch per~on ~ is satisfactory so I.enJer and that the interc.t pa~abte on the sum, secured b}~ thic 1ltortgage shall be a~ surh rate ac l.rnder ~ shall request. If l.ender has waived the optinn to acceler:,te prrn~ideJ in this paragraph 17, and if Borrower', +uccecsor in interest has executed a written ascump~+on agreement accepted in writing hy I_ender. I_ender shall release Borrov?•er from all ~ obligations under this Mortgage and thc Notc. ~ If Lender exercises such option t~~ accelerate. Lender tih~l! mail Borrower notice ~f acceleration in acrnrd.~ncr ~ih paragraph 14 hereof. Such notice zhall provide a pericxi ~~f not les~ lhan 30 days from the date the notice is mailed with~n ~ which Borrower may pay the sums declared due. If Barrowe~ (ailt io pay tuch sums prior to the expiration ~f cuch peri~•J. Lcnder may, without further nolice c~r demand on l~c~rrow•er. invokc an} remedies permitted hy paragraph 1 R ncrcc~f. ~ NON-UNIFORM CO~•e~eNTS. Borrower and l_ender further covenant and agree as follows: ~ 18. Accelcrataa; Remedies. Except as pr~vWed in pa~nph 17 hereof, upon Bormwer's breach of any covenant or ~ agreement of Borrower in this Mort~a~e. indudin~ tl~t corrnants to pay r?bea due aay snms stcnred by this MortRa~e, I.ender ~ prior to accderation sbal! mail notice to Bormwer as pro~•ided in paragrsph 14 dereof specifyin~: (1) the breach; 12) the action ~ required to core sucb breach; (3) a date, not less than 30 days from the d~te the natice [s maikd to Borrower. by which sucf~ w- breach must be cnred: aad (4) liwt faitare to cure such breach on or before the dafe speciGed in the notice mav rccu t in ~ acceleration of t6e soms secured by this Mortgagc. toroclowre by judicial proceedin~ and sale of tUe Property. 'Il~e notice shall further inform Borrower of the ri~ht to rcinstate after accderatan and tbe right to assert in the forecbsun pmcecdin~ ~ the non-exidence of a defauk or any other defease of Borrower to acceleration and forecbsure. If the bre~ch is aot cnred on or beforc the date speci6ed io the notice, Lender at I.ender's option may dcclart sp of the mms secnred by this Mortga~;e to be immediatdy due s~d psyable without forlher demand and m~y foreclose this Mo~sae by judicW proceedinR. i.ender chall be eotitled to coUect in snch proceedi~ a0 e:penses oi foreclosure. includina. bnt sot li~nited to. reasonabk att~rrne:'s ftes. aad costs of wic~'oeetary evideace. abstrscts and litk reports. ~ 19. Borror?e~'s Right to Reiastate. Nntwithctandin~ Lencier s accderadon of the sums securcd by th~• M.~rtgage. ~ Borrower shall have the right to have any proc:eedmg. hc~un ~y I.ende~ to enfarce this Mortgaqe discontinued at an~• time ~ 3 ' ~p ~ 3~~~ 31C~ ~