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Home My WebLink About0115 : ~ _ _ - - _ . _ ~ ~ 1 ~ , .t ` .L . Leader's writtea agroement or applicable law. Borrower shal! pay the smou~t of all moRia~e i~surance pnmiumt in the maaaer provided uader puagraph 2 hereof. Any amounb disbur~d by i.eader pursuant to this paragnph 7. with iaterat thereon. shall become addidonal iodebtedneu of Borrower aecured by this Mortgage. Unless Borrower and Lender agree to othe~ terms of payment. such amounts shall be payabk upo+{ nO~jQf ~~e~der to Sorrower roquesting payment thereof. and shall bear interest from the date of d'abursement at the nte payab m tirne to time on outntanding principal undef the Note unless paymeat oi interest at auch rate would be contnry to applicabk law. io which event such amounb shall bear interast at the highest rate permiuibk under applicable law. Nothing contained in this paragraph 7 shall requin Lende~ to iacur any eupense or talce any actioa hereunder. ~ S. Iapectlo~. Lenekr may make or cause to be made rcasonable entries upon and i~spections of the Property. provided that Lenderahal) give Borrower notice prior to any such inspection spocifying reasonabk cause therefor nlated to Lender's interest in the Property. • ~ ~ 9. Coodeu~natbn. The proceeds of any awacd o~ claim for damages, direct or rnnsequential. in cohnection with any condemnation or other taking of the Property. o~ part thercof. or for conveyance in lieu o[ condemnation, are henby assigned and shall be paid to Lendet. In the event of a totai taking of the Property, the proceeds shall be applied to the sumt aecurcd by thia Mortgage, with ihe exoess, if any, paid to Borrower. 1n the event of a partial taking of the Property, unless Borrower and I.ender ~ otherwise agree in writing, there ahall be applied to the sums socurod by this Mongage such proportion of the proceeds as is equal to that proportion which the amount of the sums securcd by this Mortgage immediately prior to the date of ; takiag bean to the fair market value of the Property immedistely prior to the date of taking. with the balana of tt~e praceeds ~ paid to Borrower. ? If tFie Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor offen to make . ~ an award or settk a claim for damages, Borrovrer fails to rapond to Lender within 30 days affer the date such noticx is i mailed, L.ender is authoriud to collcet and apply the proceeds. at Lender's option, either to restoration or repair of the ~ Pmperty or to the sums securcd by this Mortgage. Unlas Lender and Borrower otherwise agne in writing, any such application of proceeds to principal shall not extend ~ or postpone the due date of the manthly installments referred to in paragraphs 1 and 2 hercof or change the amount of sucn insisiimcais. - - 10. Dorrower Not Released. Extension of the time for payment or modiflcation of amortiution of the sums secured by this Mortgage granted by Lender to any successor in intercst of Borrower shall not opente to rekase, in any manner. I the liability of the original Borrower and Borrower's succason in interest. Lender shall not be required to commence i proceedings against such successor or refuse to exte~d time for payment or otherwise modify amortiution of the aums = secured by this Mortgage by nason of any demand made by the original Borcower and Borrower's successors in interest. 11. Forbearmce by Lender Not a Wdver. Any forbearance by Lender in exercising any right or remedy hereu~der, or otherwise afforded by applicable law, shall not be a waiver of or preclude the eacercise of any such right or nme~y. The 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 maturity of the indebtednGCS securcd hy this Mortgage. ~ l2. Rca~edks CamuWhe. All r+emedies provided in this Mortgage are diatinct and cumulative to any other right or remedy under this Mortgage or aftorded by taw or equity, and may be exercixd cQncurc+ently, independently or succesaively. l3. Secce~ora and Aa~ss Doaod: 7oiat aad Several i~; Capdons. The covenants and agreements henin contained shall bind. and the rilthts hercunder shall inure to, the rcspective wccessors and assigns of Lender and Bomower, subject to the provisions of psragraph 17 hereof. " All covenants and agreements of Borrower shall be joint and sevtral. The captions and headings of the paragraphs of this Mortgage are for conveniencx only and are not to be used to interpret or define the provisio~ hereof. ~ ; 14. Nodce. Eacept for any notice rcquircd under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at i the Property Addrcss or at such other address as Borrower may designate by notice to T_ender as providtd herein. and ~ (b) any notice to Lender shall be given by certified mail, return raceipt requested. ro Lender's address stated herein or to such other address as Lender may designate by notice to Borrower aa provided herein. Any notice provided for in this ~ Nortgage shall be dcemed to have been given to Borrower or Lender when given in the manner designated herein. i 1S. Uniform Mort~~e; Go~crnlu~ I.aw; Sevetability. This form of mortgage combina uniform covenants for national ; ; use and non•uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering ' ~ real property. This Mortgage shall be governed by the law of ihe jurisdiction in which• the Property is located. ~n the ~ event that any provision or clause of this Mortgage or the Note conflicts with applicabk law, such conflict shall not atiect j ~ other provisions of this Mortgage or the Note which can be given efiect without the con8icting provision, and to this ~ ~ end the provisions of the Mortgage and the Note arc declared to be severable. i ! 16. dorrower's Copy. Borrower shall. be furnished a conformed copy of the Note and of this Mortgage at the time ' ~ of execution or after recordation hereof. ~ ~ l7. Trsatfer of t6e Prope~ty; AsBUmptioa. "If all or any part of the Property or an interest therein is sold or transferred • ~ by Borrower without L.ender's prior written consenr, excluding (a) the creation of a lien or encumbrance subordinate to ~ this Mortgage, (b) the creation of a purchase money security interat for household appliances, (c) a transfer by devise, ~ descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less ; ~ not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be ~ immediately dae and payable. Lender shall have waived such option to accelerate if, prior to the sale or tranafer. Lender ; and the person to whom the Property is to be sold or transferred reach agreement in writing that the crcdit of such person ~ is satisfactory to I.ender and that the.interest payable on the sums securcd by this Mortgage shall be at such rate as I.ender = shall rcquat. 1f Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ interest haz executed a written atsumption agrrtment accepted in writing hy i.en~r. Les~~ sLe;! release Borrower from all ` obligations under this Mortgage and the Note. ~ ~ 1f Lender exercises such option to acceltrate. Lender shall mail Borrower notice of acceleration in accordance with a paragraph 14 hereof. Such notice shall provide a period of not less 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 such period, Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ~ Nox-UxtFOaM CoveN~rrrs. Eorrower and Lender further covenant and agrce as follows: ~ 18. Accde~ba; Remedia. E:cept a~ provided ta para`raph 17 heroof. oPon ~orrower's bresck of a~y co~ewat or ~ s~rcemest ot Borrower ie t6is Mor~a~e. h~cludin~ tbe co~ea:eb to pay w6ea dae aey sams secsred by t6b Mort~e, I.eader ~ prior to accder~tio~ s~aD maq notke to dorrower as pro~ided Is p~rs`rapb 14 bereot ~pec~: p) tbe breac6. (2) t6e acdoa r~ reqofred to cere wc~ ~reac6; (3) a date, eot lest tban 3A days from tbe date the ootice i~ ~ to sorrewer. by wrkL socti ~ breac~ mwt be corc~: aad tl~at ta8~re to c~e sncb bresc~ on or be[ore t6e date ~e~clBed i¦ tYe ~Mlce ~a~ res~it i~ < secder~o~ of !re wtw iecored by this Mortss~e. to~eclosa~+e by judkW pwceedie~ a~d sale ot t6e Prnpert~. 'ltie eotke ~ shaH tortlMer i~fors ~o~wer ot t~e ri~M to reL~hte ~ aecekn~tiow s~d tie ri~W b arert i~ tre forecloa~re ~ee~ ~ t~e aoe-a~iNeaee ot a ddadt or a~r otber dettw~e ot Eo~ower to accekestfo~ awi foreclowre. ii trt breaci is ~ot c~d a ; or bdore We date speciBed io t6e ~otke. Le~der st I.aders optio~ ~ dcehrs sU d t6e s~ias ~ec~rei Iq this Mort=a~e b be ~ im~tely dre a~ pa~a6k wkioot tortber demsi s~d ~ for~celou tbi~ Moe~e ~ j~IcW lroeec~. I.e~er ~ ~ be e~led to eoHect i~ s~ procudle~ d e:pea~a of faralowee. iacln~, b~t oot Nrite~ t0. rea~ornbie atto~ss~'s hes, ~ aad eods o~ ~oe~weMar~ erideace. s6stracb ana tNk ~cpoeb. ~ 19. oorrower'a Rt~f to Rei~dde. NMwithstand'mg Lender s acceleration of the aums securod by this Mort~age, I _ Botrower ahall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time ~ ~ ~ ° R 311 ~b~t ~15 ~ B4t~~c