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Home My WebLink About0127 _ . ' . . . . _ ..a._ . . . t ~ . Leader's writtea agrameat or applicable law. Borrower shall pay the unount of all mo ~e iaauraAOe pre~niums in the manner provided under paragraph 2 hereof. Any amounts disbuned by Lender pursuant to thi~ paragraph 7, with interest thereon, shall become additional indebtednas of Homower secured by this Mortgage. Unless Borrowe~ and Lender agree to othe~ ternu of paymeat, such amounts shall be payabk upo~ notice from Lendw ~o Bqryo~rY requesting payment thereof, and shall bear intecat from the date of disbursement at the rate payable from t~tne t~;tjtne ~ on a~btanding principal under the Note ueless payma~t ot - interat at such rate would be contrary to applicable law, in which event such amount: shall bear interest at the highest rate permiuibk under applicable law. Nothing co~tained in thi: puagaph 7 shall tequire Lender to incw aay expensa or talte any action hereuader. S. iapeclio~. Ltader may make or cause to be made reasonabk entries upon and inspections of the Property. pcovided that Lende~ shall give Borrowe~ notice prior to any such inapection specifying rcasonable cause therefor nlated to Lender'~ interest in the Pr~operty. 9. Coademaadoo. The proceeds of any award o~ claim for damaga. direct or consequential. in connection with any condemnation or other taking of the Property, or pan thereof. or for conveyance in lieu of co~demnation. are het+eby assigned and shall be paid to i,ender. in the event of a total taking of the Property. the procads shal) be applied to the sums accured by this Mortgage. with the excess. if a~ry, paid to Borrower. in the event of a partial taking of the Property, unless Borrower and Lender otherwise agrce in writing, there ahall be applied to the sums sxured by this Mortgage such proponion of the prooeedt as is equal to that proportion which the amount of the aums sccured by this Mortgage immediately prior to the date of taking bears to the~fair muket value of the Property immediately prior to the date of taking, with the balana of the.proceeds paid to Borrower. ~ If the Property is abandoned by Borrower, or if, after notia by Lender to Borrower that the condearnor offers to make an award or settle a claim for damages, Bonower fails to respond to Lender within 30 days after the date such notice is mailed, Lender is suthorined to collcet and apply the proceeds. at Lender's option, either to restontion or repair of the Property or to the sums secured by this Mort~tage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend tiri jianiyvttL ii`K i'ilfL :fSiZ f3I ii'w IIia~iiiTiy fii3iiiiiflEiliS TCi2i~ t0 iil ~iaTiy~7i~~iiS i~I16 l ii8T~8i ~i Ci18i1~! ii18 3ii11aUllt tit such installments. 10. Borrower Not Released. Extension of the time for payment or modiflcation of amortization of the sums secured by this Mongage granted by Lender to any successor in interest of Borrower shall not opente to rckaae. in any ma~ner, the liability of the original Borrower and Borrower's succason in interat. [.ender shall not be requircd to commence proceedings against such successor or refuse to extend time for payment or othenvise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. ll. Forbeuasee by I,euder Not a Wdnr. Any forbearance by Lender in exercising any right or nmody her+eunder. or otherwise atforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.~ The procurement of insuranc~ 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 indebtedness secured hy ihis Mortgage. 1=. Ren~ Cowulatl~a All remedies provided in this Mortgage an distinct and cumulative to any other right or rcmedy under this Mongage or afforded by law or equity, and may lx exercised concurrently, independently or succasively. 13. Seecesron and A~es douod; Jofot aod Severd T~; Captbos. The covenants and agreements herein contained shall bind, and the riRhts hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17 hereof_ All covenants and agreements of Borrowtir ahall be joint and several. The caption: and headings of the paragraphs of this Mortgage arc for convenience only and are not to be used to interpret or define the provisions hereof. i 14. Notice. Except for any notice rcquircd under applicab)e law to be given in another manner, (a) any notice to ; Borruwer provided for in this Mortgage shall be given by mailing such notice by ceniRed mail addressed to Borrower at ; the Property Address or at such other addrcss as Borrower may designate by notice to i_ender as providod herein, and 'f (b) any notice to Lender shall be given by certified mail, retum reaipt roquesttd, to Lendtr's address atated herein or to such other address as Lender may designate by notice to Borrower as provided hercin. Any notice provided for in this Mortgage shall be deemed to have bcen given to Borrower or Lender when given in the manner designated herein. ; 1S. Unifona Mortaage; Gorernid~ Law; Sevenbillty. 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 ~ rcal property. 'il~is Mortgage shall be governed by tlie law of the jurisdiction in which the Property is located. In the € event that any provision or clause of this Mortgage or the Note conflicts with applicabk law, sueh conflict shall not afEect € other provisions of this Mortgage or the hote which can be given effect without the conflicting provision, and to this ~ end the provisions of the Moctgage and the Note arc declared to be severable. i 16. 6orrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time ~ of execution or after rccordation hereof. ~ 17. Traaafer of t~e Property; A~umptlon. If all or any part of the Propeny or an interest therein is sold or transferred by Borrower without Lender's prior written consent, excluding (a) the crcation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creation of a purchase money security i~terest for household appliances. (c) a transfer by devise, ` E descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intercst of thre~ years or less { z not containing an option to purchsae, Lender may, at Lender'.s option, declare all the sums suured by this Mortgage to be e immediatdy due and payable. Lender shall have waived such option to aceelerate if, prior to the sale or transfer, I.ender 3 ; and the person to whom the Property is to be sold or transferrcd reach agreement in writing that the credit of such person ~ is satisfactory to i.ender and that the interest payabk on the sums securod by this Morlgage shall be at auch rate as Lender ~ shall request. If I.ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in . ~ ~ intercst has exceuted a written assumption agrcement acceptod in writing by [.ender. I.ender shall rclease Borrower from all m obligations under this Mortgage and t6e Note. ~ If Lender ezercises such option to accelerate. Lender shall mail Borrower notice of acceleration in aceordance with paragraph 14 heroof. Such notice shall provide a period of not las than 30 days from the date the notice is maiied within ~ which Borrower may pay the sums declarcd due. If Borrower faits to pay such sums prior to the expiration of such period, - [.ender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 heroof. ; : ~ NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree u follows: ~ 3 j 18. Acedentloe; Remedies. Fatcept at prorided in p~n~rapb 17 bersot, opo~ Borrower'~ b~est~ of a~y co~ew~t or ~ ; n~reeu~eat d Borrower i~ t6is Mort~a~e. isctuiie` tre co•e~sds to p~y wl~ dae asy soms sec~red by t~Y Mort~a~e, i.eader ~ s prb~ to secdeatloo sbaY ~ notke to Dorrower a~ ~o~ided h p~ra~rap6 14 Mereot specif~a (1) tbe breacb: (2) t6e aetioo ; nqaired to core ac~ ~reac6i (3) ~ dst~e, aat las tban 3A da~s tro~ tbe date t6e aotke r¦~aikd to Eorrower, by w~ so~ ; ' breac~ mort be c~erea; asi (4) t6M faBere to cwe s~ch brescl~ o~ or betore tbe date a~ediei i~ tLe ~otke aap eenlt b ; secderatfoe ot tre s~ icc~red bp tl~M Mor~ase. taeciowr~e 6!' ~!~t ~d sde of tbe lropery. 'i~e ~otice " ` s6s11 E~rtrer ietors Dorruwer ot tre ~t to reLAafe affer ~ awa t~e rf~t b awert i~ tie foreelow~e ~toa~i¦~ ~ i tie ~o~r=Wa~ce ot s~adt or any oMer aefare of Eorrower to seeekratio~ awa toncbwra N fie 6reac~ is ~ot cxe~ a ~ ; or bdore tbe dste speci8ed h tre ~otke, I.e~der st Leoaer's ortio~ a~ dteltre aB of tie w~r ~rsi b~r N~i~ Moe~e tn be ~ im~ d~e aei p,fabie wkrow twtber dewa~d a~d ~ foreelore tri~ iNort~a[~ ti! T~4 Lewde~ sraN ~ ' 6e eatl8ei to edled i~ wc~ troe~ all e:peres ot foreeloare, b~clo~n~, bot ~ot Ifoited fo, rea~o~ubie dtorns~'s tees, ~ ~ aad eo~b ot doc~ry erlde~cq a6Nrseb ri tltle es}oeb. ~ 19. Sorrower's R1~t to Rd~te. Notwithslanding Lender's acceleration of the sums secured by t1~is Mortga~e. i Borrower :hall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at my time ~ ~ k ~ a'nnr:~~ 1 D~t~r ~t 7~7? ~