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Home My WebLink About1789 e " ~ r 3 3 ~ . agreeuae~t ot appliable law. Borrower shall pay the amount o[ all morcgage inwraoce premiuras in the manner providcd ur~der paragraph t hereof. Any amounts disbursed by Lende~ punuant to this pangraph 7, with interest thereon. shall become additional ir~- debted~ess o[ Borrorrer secuted by this Mortgage. Unless Borrower and I.ender agree to other terms o( payment. wch amounts stull be payable upon notice trom Lender to Borrowcr requating payment thereof. and shall bear interat Emm the date o[ disburxme~t at the nte parable (rom tlme to time on outuanding principal u~der the Note u~less payment ot interat at wch nte w+ould be mntnry to applicable law, in which tvent wch amounu shall bear interest at the highest ratc permisuble under appliuble law. Nothing coauined in this paragraph 7 shall require Lender co incur anr expenx or ute any attion hereunder. a. In~pection. I.ender mar make or ause to be made reasonable entria upon and inspectio~s oE the Properq. pro- vided that I.ender s6a11 give Borrower ootia prior to any such inspection specifying reasonable cause therttor rdated to I.ender's intereit in the Propercy. 9. Coademnation. The proceeds o[ any aw+ud or claim for damaga. dirctt or mnsequential, in connection with a~y condtmnation or other taking ot the Property, or put thenof, or Eor rnnveyance in litu of condemnation, are hereby as- signcd and shaU be paid to Lender. ln the tr~nt o[ a total taking oE the Property, the proceeds ~a11 be applied to the sums secured br this Mortgage. with the excess. ii any. paid to Bortower. In the event of a partial taking of the Property, unless Borrower and Lender ocherwise agrec in wtiting. there stuli be applied to the sums secured by this 1?fortgage :uch ptoporcion ot the procecdi ai u equal to that proportion which the uaonnt oE the sums setured br this Mortgage immediately prior to tht datt of taking bears to the tair muket value o[ the Propeny immediately prior to the date oE taking. wich the balance o[ the pro- ceeds paid to Borrower. lf the Propetty is abandoned by Borrowrcr. or if, after notice by Lender to Borrower chac the rnndemnor offers to make an awnrd or setde a claim for damages, Borrower fails co respond to Lender within 30 days aEter che date such notice is mailed. Lender is authorized to collect and applr the proceeds. at Lender s option, eithet to racoration or repair of the Property or to the sums secured by this Mortgage. Unless I.endet and Borrower othervrise agree in writing, any such application of praeeds tp principal shall not extend or postpone the due date oE the monthly instalimenu re[erred co in paragnphs 1 and Y hereof or change the amount of such installments. 10. Borro~rer Not Relta~ed. Extensio~ of the time for payment or modifintion oE amortization oE th~ sums secvred by this Mortgag~e gnnted by Lender to any successor in interest of Borrower shall not operate to release, in any manner. the liability oE the original Borrower and Borrower s successors in interest. I.ender shall not be requircd to mmmence proceedings against such successor or retuse to extend time for payment or otherwise modi[y amor[ization of the sums se~ ~.ired by this ;4tortgap,c by reason of any demand made bv the original Borrower and Borrower's successors in interest 11. Forbearance b~ Lendet Not a Wai~er. Any forbearance by Lender in exercising any right or remedy hereundet. or otherwise atEotded by appliqble law, shall not be a waiver o( or preclude the exercise of any such riqht or remedy. The procurement of insunnce or the payment ot taxa or other liens or charges by Lender shall not bc a wai~•er of I.tnder's right to acceleratc the ma[uritr of the indebtedness secured by [his Mortgage. lY. Raned~s G~mulati~e. All remedies pro~~ided in this \fort~age are distinct and cumulati~•e to an~ other riqht or remedy under this 1liortgage or afforded by law or equity, and may be exercised mncurrendy, independendy or successively. 13. Suoceasors and Aasigns Bouad; Joint and Sereral Liability: Captioru. "I'he to~~euants and agreements herein contained st~all bind. and the rights hereu~~der shall inure to. the respecti~e successors and auigns of Lender and Borrower. subjecc to the provisions of pangraph 17 hereoE. All covenan4s and aqreemenu of Borrower shall be join[ and several. The captions and headings of the paragraphs ot this 1ltortgage are for com•enience onip and are not to be used to interpret or de(ine th~ provisiops hereof. - 14. Notioe. Except tor any notice required under applicable law eo be Riven in another manner, (a) any notice to Borrower pro~•ided [or in this ~{ortgage shall be gi~en by mailing such notice by certitied mail addressed to Borrower at the Property Address or at such other address as Borrower may designate b~ notice to I.ender as pro~~ided herein, and (b) any notice to Lendet shall be gi~•en by certified mail, return receipt requested, to Lender's address stated herein or to such ' other address as Lender maY designate by notice _e Borrorver as provided herein. Any notice providcd for in chis ~iortgage t shall be deemed to have been gi~en co Borrower or Lender when gi.~en in the manner designated herein. 15. Uniform Mortgage; Governing Iaw; Sererabiliq. This Eorm of mortgage combines unitorm cocenants for na- ? tional use and_ non-uni[orm rnaenants with limited ~~ariations by jurisdittion to constitute a uniform ~ecurity instrument ~ cocerinq real property. This ~fongage shall be gocerned by ttie law of the jurisdiction in which the Property is located. ~ In the event that anr provision or dause of thi3 \fortqage or the Note conflius with applicable IaN, such conflict shall not ~ af[ect other provisions of this 11~ortgage or the ~ote which can be gi~•en efEect without the con(iicting pro~•ision, and to this end the provisions oE the ~fortgage and the Note are deciared to be severable. 16. Borro.ner's Copy. Botrower shall be furnished a conformed topy of the ~ote and of this ~tortRaqe at the time of rxecution or afta recordation hereof. 17. Trander of the Proptrtr; Aawmption. If all or any part o[ the Property or an interest therein is sold or trans- ferred b} Borrower without Lender's prior written consent, excluding (a) the cteation of a lien or encumbrance subordinate to this ~iortqaqe, (b) the treation o[ a purchase money security interest (or household appliances. (c) a tran~fer by de~~ise, descent or by operation o[ law upon the death o( a joint tenant or (d) the Rrant of am• leasehold interest of three years ot less not containing an opcion to purchase. L.ender may, at I.ender's option, declare all the sums secured by this Atortqage to ~ be immediatelp due and payable. L.ender shall ha~e waived such option to accelerate iE, prior to the sale or transier, Lender and the penon to whom the Propercy is to be sold or tnnsferred reach aqreement in writing that the credit of such person is satisfactory co Lender and that the interese payabte on the sums secured by this ~tortgap,e shall be at such rate as Lender ~ shall request. If Lender hu waived [he option to accelerate provided in this parap,raph 17, ar~d if BorroMer's successor in ~ interest hu t~cecuted a written aawmption aqreement accepted in writing by Lender. Lender shall release Borrower trom ~ all obligations under this Mortgage and the Note. IE I.ender acercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with J` paragraph 14 hereoL Such notict shall provide a period of not less than 30 daJn from thr date the ~iotice is mailed within ~ which Borrower may pay the sums declamd due. If Borrower fails to pay such sums prior to the expiration of such petiod, ~ I.ender may, without further notice or demand on Borrower: invoke any rtmedia permitted by paraRraph 18 hereof. ~ NOI~-UNIiORM CovEr?~xrs. Borrower and Lender (urther mvenant and agree as follows: ~ 18. Aaelention; Remedits. Except as provided ia puagraph 17 hereof, upon Borrower's breach of any rn~taant or ~ ag~etment of Borrower in tLis Mortgage, including the co~venana to pap whrn due anr sums ~ecureel-by this Mortgage, Lender prior to acceler~tion ~6a11 mail notice to Borroaer as pro~ided in paragraph 14 herta( ipecifying: (1) ehe breach; ~ the actioa requircd to cure wch brruL; (3) a date. not 1e~s than 30 days trom the date the noeice is mailed to Borrower, ~ by ~rhich suc6 breach must be cured; and (4) that failure to cure such bnach on or be[ore the date s~xcified in the notice may rdult ia aoalention oE the wras secured by this Mortgagt, toreclown by judicial proceediag and ralt oE the Property. The notice ~6all Eunher in[orin Borrower of the right to rtinaate after uceleration and the right to aasert in the foreclowre praeeding the nan~rzistence ot a default or anr other deEewe of Botro~+er w acceleration and [oreclo~urt. If tLe brach i~ ~ not cnred on or before tbe date speci(ied in the notice, I.ender at Lender's option map dedare all of t6e wms ieoured br this Matgage to bt immediatel~ due and parabk Kithout [wther demand and ma~ [oreclo~e this Moregage bT ju~icial procetd- ~ ing. Lender shal! be mtitled to rnllat in wch proceeding aU tzpensa o[ [oreclowre, including. but not limitcd to, reapn- abk attorne~s ftu, and costs of documenury e~idrnce. abstracts and title nports. ~ ~ . ~ R 311 1 ~ BOOK PAGE 70S - ~ . ~