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Home My WebLink About1205 . ~ . ; . , ~ t Leade~'s written agrament or applicabb law. Boaower'ahall piy the amoum of all mortsage inswu~ce prcmiums in the ' maar~er provided under,paraaraph 2 heroof. Any amounts disbuned by Lender pursuant to tha paragraph 7. with interest thereon. sluq become additional iodebtedneu ot Honovrcr sxured by 11~' ~lnkss Borrower and I.en~ier agrce to othe~ ternu ot paytaeM. such i :m«,~u ~n~~ ~ wy.t,k u~ rn~~r~~o Bo~c~wer roqueslioE paYment Iheroof, and shall bea~ interest fran the t date ot disbursement at the rate payabk from time to time o0 outatanding principal under the Note unkss payma~t of : interest at such tate would be contnry to applicabk law, in whicfi evmt such amounta shall bea~ iQterest at the hi~hest rate ~ pe~mi~'bk undo~ applicabk law. Nothina contained in this paragnph 7 shall rcquire I.ender to incur any eapeme or take ~ any action hereunder. s. ia~ectio~. Lender may make ar cause to be made rcasonabk entries upon and inspoctio~s of the Property. provided ~ that Leoder:hall give Borrower natice prior to any si~ch inspection spocifying rcasonabk cause therefo~ rclatod to Lender's interest in the Propetty. ~ 9. Co~dem~stio~. The proceeds of any award or claim for damages, dircct or rnnsequential. in co~riection with any : co~demoatan or othet taking of the Property, or pa~t thercof, or for conveyance in lieu of condemnation. are hereby assigoed ; a~d shall be paid to i.ender. In the eve~t of a total taki~g of the Propeny. the proceeds ~hall be applied to the sums xcurcd by this MoNgage, f with the excess, if any, paid~to Borrawe~. in the event af a partial laking ut the Propetty. unless Bomower and I.ender i otherwise aaroe in writing. there ahall be applied to the sums secured by this Mortgage such proportion of the procoeds ~ as is equal to that proportion v?hich the amount of the sums securcd by this Mortgage immediately prior to the date of taking bears to the•fair market value of Ihe PropeNy immediately prior to the date of taking, with the balanoe of the proceeds ~ paid to Bornower. ' If theProperty is abandoned by Borrower. or if_ after notice by l_ender to Borrower that the condemnor ot[ers to make ; an award or settk a claim for damages. Bc~nrnver tail~ to respond to I.ender within 30 days after the date such notice is ; m~iled. L.ender ic authorized to colkrt and apply the proceeds, at I.ender's option, either to ratoration or repair .of the ~ Properry or to the surm securcd by this Mortgage. ~ # Unless Lender and Borrower olhervvise agree in w•riting, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change ihe amount of such installments. ~ I0. Eorrower Not RNe~ed. Extension af the time for payment or modification of amortization of the sums socurcd # by this Mongage granted by I.ender to any cuccecsc.r in interest of Borrower xhall not ope~ate to release, in any ma~ner. the liability of the origina) Borrower and Bc~rrower e successors in interest_ Lender shall not be required ta commence proceedings against such successor or refuse to extend time for paymcnt or otherwise modify amortizat~on of thr ~~~ms secured by this Mortgage by reason of any demand made by the original Borrower and Bonc?wer s succescars in interect. ? 11. Forbearanee 6~; ader Nd a Waiver. Any forhearance b} !_ender in e!cercising any right or rcmcdy hercunder, or ` othervvise afforded by ap`Ip~~icable law. shall not be a waiver of or prcclude the exercise of any such right or remody. ~ 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 indehtednecs cecured hy thic Mortgage. l2. Remediea Comolatite. Al! remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this MortRage or afforded hy law or equity. and may be exercised concurrently, independently or successively. ' 13. S~cce'sors aad Assi~ws Bound; Joiat and Se~•ed i.iaM7Ny; Capfbns. The covenants and agreements herein ! contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender at~d Borrower. subject to the provisionx of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several. The captions and headings of the paragraphc of thic Mortgage are for convenience only and ar+e not to be uscd to interprct or define the provisions herec~f. 11. Notiee. Ezcept far any notice rcyuired under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Martga¢e shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at s~ch othcr addresc as Bormwer mav designate by notice ro i.ender as provided hercin, and (b) any notice to Lender shall he givcn by certified mail. retum receipt requested. to I.ender s address slated herein or to such other addrcss as Lender may designate by notice to Borrower as provided herein. Any notice .provided for in this ~ Mortgage shall be deemed to havc t~een given to Bc?rrowcr or 1_cnder when given in the manner designated hercin. IS. Uniform Mort~a~e; Governin~ Law: Sevcrability. This form of mortgage combines uniform covenants for national ; use and non-unifarm covenants with limited variationc b~~ juriuiiction to constitute a uniform security instrument c~vering real propeny. This Mor~gage shall be governed b~ the law of the jurisdiction in which the Property is located. In ihe 4 event Ihat any provision or clatise of thit Mortgage or the Nate conflicts w~ith applicable law, such conflict shall not affect j other provisions of this Mortgage or the Note which can be given effect without the conflicling provicion, and to this ~ end the provisions of ~he Mortgage and the Vate arc declared to he severable. ~ 16. Eorrower's Copy. Borrower shall be furnicheJ a conformed cop~• of the Note and of this Mortgage at the time j of execution or after recordation hereof. ~ 17. Tnrafer of the Propertp: Assumplion. Ii all or an~• part of the Property or an interest therein is sold or transferred by Borrower without I.ender s prior wrinrn consent. ercluding (a) the creation of a lien or encumbrance subordinate to ? this Mortgage. (b) the creatian of a purchace maney~ ~ecurily interest for household appliances. (c) a transfer hy devise. descent or by operation of law upon the Jeath of a joint tenant or (dl she grant of any leasehold interest of thrce }•cars or less not containing an option to purchase, I.ender may. at l.ender'~ option, declare all the sums secured by this Mortgage to be immediately due and payable. ~ender shall have w:~ived such option to accelerate if, prior to the sale or transfer. 1_ender and the person to whom the Properly ic t~. be :oIJ or transferrcd reach agrcement in writing that the credit of ~uch person is satisfaclory ro I~nder and that the interr.t payable on ~he sums secured by this Mortgage shall be at such rate aa l.cnder shall rcquest. if Lender has waived the option to accelerrte provided in Ihis paragraph 17, and if Borrower s successor in interest has executed a written assumption agreement accepted in writing by I.ender. I.ender shall release Borrower from all _ obligations under this Mortgage and the Note. if Lender exercises such option to accelerale. I.ender chall mail Borrower notice of acceleration in accordancr i~h paragraph 14 hercof. Such notice shall provide a period ~f not lesc 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 ~uch period. l.ender may, without furlher notice or dcmand on {3orrower, invoke any remediu permiued by paragraph 1R hercof. ~ s NoN-Utr~FORrK CoveH~tvrs. Borrower and Lender funher covenant and agrce u follows: . ~ ls. Accekratioe; Ren~edks. Excep as provided ia pan~raph 17 bercof, opoo Bor?ower's bresc6 of aay covenaat or ~ a`reemest of Eorrower In this Mort~sRe. Includi~ tbe corenants !o pay whea dut say soms secored 6y this Mort~s~e. Lender ~ prfor to acceleratbn sball mail notice to Borrower as prorided in para6raph 14 hereof specifyfoa: (1) the breach: (2) the action r requfrrd to cooe soc6 breacb; (3) a date, not k~ Ihan 3A dsys from the date tbe notice is mafled to Dorrower. by which sucb ~ 6~r.ach med be cared; and (4) tlwt fsilure fo curc snch bresch on or betore the date apee~'ied ia the notice may recult in ~ aceekratbn of tbe sams secared br tbfs Mortga~e. to?eclosun by jddicial proceedin` ~d sak of tbe Properry. 77~e ~wtice ~ shaq fnrt6er iwfona Eorrower of tbe ~M to reinstate after acceleratbn and the riabt lo asert in ibe foreclosere *roceediu~ t~e noa-exktence of a defsoN or any other defense of Eorrower to accekratioe and foreclosure. If the breacb is aot cnred oa or before the datt speciRed ia tbe noHce. Lender ~t I.ender's option may dechre sq of tbe sows secnred by this Mort~a~;e to be immedfatdy due ana payabk witiwut turther demand and may foreclose t~k Mort~a6e by jndkial proceediaR. I.ender chall ~ be eatitled to cdlect in suel~ proecediu~ aN espenses nf foreclosure. inclndia~. bnt not Wnited to, reasoasbk att~xnrv's fees. ~ asd co~s of doc~!ae~tary erfdcace. abstrsc~s and Iitk roporls. ~ 19. Eo~ruwa's Ri~ht to Reiostate. Ncua•i~h~tanding l.endor s acceleration of the sums xcurcd by ~h~• Mortgage, ~ Borrower shall have the right to h+~ve any proce~:dm~~ he~un ~y I.ender to enforce this MortRag~ discontinued at anp time ` ~ ~ ~.~~~R312 ~~~~E1~03 ~ _ ~ _ - - - , . . : . -