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Home My WebLink About1185 Le~dor's writteo agreement or sppli~:abk (~w. Bortower shall pay thc amaunt of sll mortgsge insurance~pcemiumt in tbe man~er providcd unde~ paragraph 2 heroof. ' ' • ~ny amounts disburaed by l.enckr pursuant to tha psiraarsph 7, with interest thercoo. shali become additional indebtodness of Borrower secured by ~his Mongage. Unksss Botrower and Le~de~ agrce to othe~ terms ot paytneM. wch amounts shall be payabk ~~pot~ rnuice frc~m Leode~ 10 Boteower requestio8 paYment thereof. and shall bear interost from the date ot disbursement at the rate payahk f~om time to time on aitstanding principal under the Note unkss pi~t of ~ interest at such rate would be rontnry to applicabk law, in which event such amounts shall bear interest at the hishest ra~e . permissibk under applicabk law. Nathiog cootained in this parasnph 7 shall rcquire Lende~ to incur any eapaae or ta1~e any action hereunder. S. I~s*eetio~. [.ender may makc or cause to be made rcasonabk cntries upon and inspectior~s of the Prope~. provided that ~eeder shall Rive Borrowe~ no~ice pric~r ta any s~kh inspection speci(ying rcasonabk cause therefor related to La~dera interest in the Propetty. 9. Cosdee~uafb~. The proceeds of any award or claim tor damaga, dirccl or consequential, in connectio~ ~rith any condemnalion or other taking of the PropeNy, or paA thercof, or tor conveyance in litu ot condem~ation, ar~ henby assisned and shall be paid to Lende~. in the event of a tdal taking of the Propeny. the proceeds ~hall be applied to the sums secured by this Mort6aae. with the eacess, if a~y, paid to Bonawer. in the event af a panial tal;ing of the Property. unless Borrnwer and i.eader othervvise agrce in writing. there shall be applied ta the cums securcd by ihis Mongage such proportioe of the prooeed~ as is equal to that propoAion v~rhich the amoun~ of ~he sumc securcd by this Mortgage immediately prior to the date ot taking bears to the fair market value of the Property immediately prior to the date ot ~aki~g, with the balanct oi the pcoceeds paid to Bo~ro~rer. ~ Ii the Property i~ abandoned by Bor:ower, or if. after no~ice by Lender to Bort~ower that the condemnor oRers to maiee an award or stltk a claim tor damages. Bc~rrowe~ failc ta ~es~ond to l.ender within 30 days after -the date such notioe is mailed. Lend~ ic authorized to collect and apply ~he proceeds. at I~nder's option, either to restotatioo or repair of t60 Propecty or ro the sums securcd by this Mort~talte. Unkss Lender ar?d Borrower othenvice agree in writing, a~y such applicatian of proceeds to principal shall not eactend or postpone the due date of the monthly installments rcferred to in pangraphs 1 and 2 heroof or change the amount ot such installments. 10. Sornower Nof Rekssed. Extension of the Iime for payment or moditication of amortization of the sums secur~ed by this Mo~tgage granted by Lender to any cuccecsor in interest of Botrowe~ shall not opente to rcksse, in any manner. the Iiabilily of the original Borrower and Bc+rrower i successors in interest. Leoder shall not be roquircd to commenoe proceedings against such suocessor or ref~~.ce to extend time for payment or otherwise modify amortiution of the sums securcd by this Mortgage by reason of any demand madc by the original Borrower and Borrower'a succes.sors in interest. 11. For6wa.ee 6y Leader Na a waivcr. Any forhearance by Lender in exercising any right or remedy here~mder, or othe~rise afForded by applicabk law, shall not be a waiver of or preclade the exercise of any such riaht or temedy. The procurcmeot of i~surance or the payment of taxes or Wher liens or charges by Lender shall not be a waiver of Lende~'s right to accekrate the maturity of the indebtedncsx aecurcd hy this Mortgage. 12. Resedks C~aadafi~e. All rcmedies provided in this Mortgage arc distinct and cumulative to any other ri~ht or remedy u~der this Mortgage or aftorded by law or equity, and may be exercised concurrcntty. independently or successivtly. 13. S~cra~ors a~i Asd~s Eoaua: ~Toiut swa Sereral I.isbiiity; Captlo~s. The coyenants and asreements herein contained shall bind, and the riRhts hercunder shall inur~ to. thc.rapoctive successors and assigns of Lender spd Botmwer. subject to the provisions of paragraph 17 hereof. All covonants and agreements of Borrower :hall be joiN and several- The captions-and hadings of the paragraphc of this Mortgage arc for convenience only and are not to 1k wed to interprct or define the provisans hercof. - lI. Notiee. Except for any nc+tice rcquircd under applicabk law to be given in another manner, (a) any notice to Borrower p~ovided for in this Mortga~te shall be given by mailing such notice by certifled mail addressed to Bortower at the Property Address or at such dher addrcsx as Bormwer may designate by no~ice to I.ender u provided hercin. and (b) any notice to Lender shall he givcn hy certificd mail. retum rcceipt roquested. to Lende~'s addrest statod herein or to such other addrcss u Lender msy designate by nc~tice to Borrower as provided herein. Any notice provided fot in this Mortgago ahall be deemed to have bten given to Borrower or Lender when given in the manner designated herein. 15. Uwifono Mort~e: Go~erwie~ Lw; Scverab~ity. This form of mortgage combina uniform cavenanb for nationsl use and non-uniform covenants with limited variations by jurisdiction to co~stitute a unifonn security instrument ooverin6 real properry. This Mortgage shall be governed hy the law of the jurisdiction in which the Propetty i~ located. In the event that any provision or clause of thic Mongage or the Note conflicts with applicabk law, such conflict shall not atfect ~ other provisions of this Mortgage or the NMe which can be given e~ect without the oonAictinE provision. and to tha ` end the provisions of the Mortgage and the Nc?te arc Jeclued to be severabk. ~ 1~. ~on~ower's Cory. Borrower shall be furniched a conformed copy of the Note and of this Mortgage at the time ~ of execution or after rccordation hercof. 17. .T~srter of tre ho*e~ir: Aswuu~ptiow. Tf all or any part of the Property or an interest thercin is sold or transferrcd ~ by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subord~nate to this Mortgage. (b) the creat~cx~ of a purchace monev ucurity intenst for household appliances, (c1 a tnnsfer hv devae. ( dacent or by ope~ation of law upon the death of a joint tenant or (d) the grant of any kuehold interat of threc ycan or kss ~ not contai~ing an option to punchase. Cender may, at tender s option. declarc all the sums secured by this Mortgage to be ~ immediately due and payable. Lender shall have waived uich option to accekrate if, prior to the cak or tra~sfer. Lender and the penon to whom the Property ic ta be u?IJ or transferrcd rcach agrcement in writing that the crcdit of such person e is satisfactory to Lender at~d that the interr~t payabk on the sums securcd by this Mortgage shsll be at s~kh rate ac Lender shall r+equat. lf Lender has waivod the option to accelerate provided in this paragraph 17, and it Borrower s succawr in interat has exocuted a written assump[ion agreement acceptcd in writing by Ltnder. Lender shall rekase Borrawer fram all oblisations under this Mortgase and the Nae. ~ if Lender exercises such option to accekrate. Leoder shall mail Borrower notice of ucekntion in accordanc-~ w•ith pua~raph 14 hereof. Such notice shall provide a period c+f not las than 30 days from the ~ate the notice is mailed within which Bormwer may pay the sums declared due. If Borrower (ails ta pay such sums prior to the exPintion of cuch peric~d. Lender may, without further notice or demand on Borrowcr, invoke any remedia perm~tted by paraaraph 1R herrnf. ~ Not+-UxtFatnt Covetv~trts. Bo~ower and L.ender further covena~t and a~r+ee a follv~vs: ` li. Aeede+aNo~ Rewedks. E:ce~t a~ ~rovWed i~ ~rsrA 19 MeKOt. ~o~ fon~owers Meae~ oI aq ee~ewt ~r s a~ree~e~t ot Son~wer b tris Moet~a~e. i~e1~i~L tMe co~e~aMs to Mr whe~ ~~e a~ ~s see~ y~ tld~ Mo~1~e. I.e~aer ~ prior to aceekra~tls~ sW wW wotke to ~onower as'rorNed h pra~rapl~ 11 Uer~eol qcclfyi¦F (1) tre M~eaei~: (21 tUe sctisw ~ rc~dre~ !o a~re we6 M'eack (3) a~1e. ~ot Ids 1~ 30 days trow tbe /de tre ~ofiee r~Ye~ b M~rower. Yy whicr s~i ` i~e~c~ ~Nt ~e e~ a¦a (4) Hat taq~r+e fo crre sreM MeacM o~ or re[ore tbe aale qeciAsa I~ tl~r rwlice ~ay nsoit b ~ ,eesk.sfio. oe Ire ,.r ,«.re+ s~ a~i. Mori~a~e. taecla.R b~ r'~L ~ or n~e h+u~c~ry. 7Ue .otke ~ araM f~Yer ldor~ Son~nwer d tre ~M b~ tfier accelerttio~ awa tl~t ~t b areA h tMe to~et{eaae ~ot~ ~ be ~Me~ee ot ~ ~eta~lt or a~y otl~er ~e/ewse ot Dorwwer to aecelerdlo~ awa lonclowre. N t~e brrx~ r~of c~sre~ e~ ~ or betore twe i~le s~eeiic~ i~ tl~e ~olice. Le~cr st I.esAe~'s opfow w~ aecl~re ar al tl~e ~ seews~ by tW~ Mo~IpRe Is ~e s i¦~weAi~hlp dre aw~ NyaMe witro~N t~ather dem~nA a~d may torctlose tW A'lo~a~e r!' jriicW T.endtr d~a¦ ~ be ~ to eo~eet 1~ s~eY ~t~oeesdi~L sr Kpeases pt /oreclosrre. i~clr~. ~t ~N ~ M. rea~ew~ilt stt~xseYs fees. ~ ~ ea~s of ioe~-a~eNar~? eridnee~ sb~triels ~i Ikk eeprb. ~ lf. M~rona's R~t t~ ReWt~te. Nc~twithstandinE Lender s acakntion of the sums sccured by th~s Mortsa~e. Borrower shall havt the risht to have any p~octedings hegun hy Lende~ to cnfores this Mortaaae discontinuod at any time ~ I ~ 312 ~,,~E 1183 ~ z_ya~ _ _ _ . .