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Home My WebLink About1509 l.ender's writte~ agrcemeot or spplicabk law. Borrower ahall pay the amount ot all mortgage insuranoe premiums ia the manner provided undcr parag~aph 2 hereof. • . Any amounts disburxd by I.e~der pursuant Io thit para~aph 7, with interest thercon. shall become additiond indebtedness of Bor~ower securcd by ~his Mongage. Unless Borrower and Lemler agroe to other ternu of paymeM. such amounts shall be payabk upon notice,ttat~ 1:tode~ to Borrower requesting payment thetcot, and shall bear intetest fran tlk date ot disbursement at the nte payahk trom time ta time an outstaoding principal u~der the Note unless pajrment ot interest at such rate would be contnry to applicabk law, in which event such amounts shall bear interest at the hiahest rate permiuibk under applicabk law. Nothing contained in this pataa~aph 7 shall ~uire Le~der to incur any eapetae or talte ; any action hereunder. s. iapectio~. [.ender may make or eaux to be made rcasonabk entries upon and inspoctions ot the Propetty. provided that I.e~der shall give Borrower nolice prior to any u~ch inspcctioo ~ecityina reasonabk cause therefor related to I~det's interest in the Prope~ty. 9. Cowdemaatiow. The proceeds ot any award or claim fo~ damages, diroct or rnnsequeetial. in connectioo w?ith any condemnalion o~ othe~ taking of the Propeny. or pa~t tAercof, o~ for conveyanct in lieu of coodemnation. are he~? a~sitned and shall be paid to I.ender. in Ihe eveot of a tW~l taki~g of the Propehy. the Qroceeds ~hall be applied to the sums secured by this Mortaage. with the eacess, if aoy, paid to Borrower. In Ihe cvcnt af a parlial taking of the Propetty. unless Bomower and La~der otherwise agroe in writinR. thet~e shall be applied to the sums securcd~ by this Mortgase such propoition of the prooealt ; u is equal to that propoKion vvhich thc amou~t oF the sumc secured by this Mortgage immediately prior to the date ot taicing bean to the hir market value of the Propcny immediately prior to the date of taking, with the balanct of the pt+ooeeds paid to Borrower. If the Pro~+~erty is al~andoned by Bor:ower, or if. after natice by I.ender to Bormwer that the condemnor of~ers to mdte an award or settle a claim far dam~ges. Borrawer fails ~o res~ond ta Lender within 30 days after ~the datt such notiee is maikd, Lender is authoriud to colkct and apply the proceeds. at l.ender's option, either to restoration or npsir o[ tl~e Proptny or to the sums securcd by this Mc+ngaite. Unlas Lender and Bormwe~ othenwice agree in writing, any such application of proceeds to principal shal) not extd~d - or postpont the due date of the monthly installments referrcd to in paragraphs 1 and 2 hercof or chanae the amount of such installments. 10., lbrr~or•er Nof Rekited. Extension of the time for paymmt or modilication of amortization o[ the wms axured by this Mortgase gnnted by Lender to any cuccesso~ in intercst of Borrower shall not opente to rekase, in any manner. the liability of the original Borrower and Bc•rrower e successors in intercst. Lender shap not be roquircd to commence proceedinas against such successor or refuse to extend time for payment or otherwise modify amortiution of the s~~ms secured by this Mortgage by rcuon of any demand made by the oriRinal Borrower and Borrower's succeuo~s in intercst. 11. Forbearasce by Le~der Not s Wairer. Aoy fofiearance by l.ender in exercising any right or remody heramder, or othe~vvise afforded by applicable law, shall nc~t be a waiver of or prcctude the eXercise of any such riaht or t~ert~edy. The procurcment of insuranoe ar the payment of taxes or wher liens or charges by Lender shall not be a waiver of Lender's right to accelente the maturity of the indebtedness securcd hy this Mortgage. l2. Rea~cdies ~aoulMbe. All remedies pmvided in this Mortgage arc distinct and cumulative to any other right or rcmedy under this Mortgage or aftorded by law or equity, and may be exercised concurrently, independently or succe~ivdy - ' 13. S~ccesrors awd A~as Sonnd: ,Jdat a~d Se~eral i.iabililr: CapBo~s. Tfie oovenaats and asreemet~ts herein contained shall bind, and the riRhts hercunder shall inur~ to. the rapective successors and assigns of Lender spd Borrower. subject to the provisionc of paragraph 17 hereot. All covenants and agroemrnts of Borrower shall be joiiy and sevenl. The captions' and headings of the paragraphc of. ~his Mortgage arc for convenience only and ue not to 13e uxd to interpret or de6ne the provisions hercc+f. 14. NMke. Except for any notice rcquired under applicabk law to be given in another manner, (a) any notice to Borrower p~ovided for in this Mort~tage shall be given by mailing such notice by certisod mail addressed to Borrower at the Property Addras or at such dher addrcss as Borrower may designate by notice to T.ender as provided hercin, and (b) any natice to Lender shall he given hy cehified mail. retum rcceipt requestod. to I.ender's address stated hercin or to Yuch other addrcss as Lende~ may decignate by notice ta Borrower ss provided heeein. Any notice prnvided for in this i Mortgage shall be deeined to have been given to Borrower or Lender whon given in the manner desianated herein. lS. U~ifor~ Mort~aRe: Go~eAis~ La..: Scverability. This form of mortgage combina ue~form covenants fa national ~ use and ~wn•uniform covenants with IimiteJ variations hy jurisdiction to comtitute a unifortn xxurity instrument ooverina f real propeny. This Mortgage sha11 be goveroed by the law of the jurisdiction in which the Property is located. in tht j event that a~y provision or clause of thic Mortgage or the Note rnnflicts with applicabk law. soch conflict shall not afiect { other provisions of this MoAgage or the Note which can be given .eQcct without the conflicting provision. and to this ' end the provisions of ~he Mortgage and the Note are cieclared to be severable. ~ lf. lorruwe~s Co~r. Borrower shall be furniched a confonned cop)' of the Note and of this Mortgage at the time of execution or after recordation hercof. ~ 17. .Trae~ter af tre Pro'erty: Assun+Miow• 1f all or any pan of the Property or an intercst thercin is sold or tnnsferrcd by Borrower without Lender's prior wrinrn consent. excluding (al the et~eation of a lien or encumbnnce subordinate to _ this Mortgage. (b) the creatux~ of a purchace money cecurity interat for househoid applianees, (c) a tnnsfer hy devue. dexent or by operation of law upon the death o( a jaint tenant or (d) the gnnt of any kasehold intercst of threc ycars or kss - not containing an option to purchase. Lender may, at Lender's option, declare all the sums xcured by thi: Mortsage to be immediately due and payable. Lender shall have w•aived such op~ion to aceelente if, prior to the cale or transfer. Lender and the penon to whom the Proper~y ic to be co1J or tnnsferrcd reach agreement in writin~ that the crcdit of such person is satisfactory to Lender and that the interrn payable on the sums secured by this Mortgagt shall be at such rate ac Lender shall request. if Lender hu waived the option to accelerate provided in this paragnph 17, and if Borrower's successor in interat has exceuted a written a~sumption agreement accepted in writing by Lender. I:ender shall ttkase Borrower from all oblijstions under this Mortgage and the Nae. - if Lender exercises such option to accekrate. Leoder shall mail Borrower notice of accekntion in accordan~-~ a•~~h puajraph 14 hereof. Such notice shall provide a period of not las than 30 days trom the date the notice is maikd within which Borrower may pay the sums declared due. It Borrower fails to pay such sums prior to the expintion at cuch peric~d. Lender may. without further notice or demand on Borrower, invoke aoy rcmedia permitted by paragraph 1!t hercof. ~ Now-UNt~ut CoveH~tr'rs. Borrower and Lender furthe~ rnvenant and a~ree as follo~rs: j- li. AccderaHo~ Rewe~a. Except a~ provWed i~ p~n~rapU 17 be~sot. ~o~ iorrrwar's Me~c~ ot a~r co~e~t er ~ a~rea~t of lerrower i~ t~ 1V%o~a~e, b~cl~di~L N~c cwe~sets to @~y wUe~ i~e a¦Y wws ae~n~d b tWt A'/o~e. I.esaer ~ prior !o acceientio~ s~ ~N ~otlce W SoROwer as Ko~fde~ la p~ra~*ap6 14 rersot s'ecl[pMK: p) the 6~eaeM: (2) t~e seflow ~ rq~Y+ei b a~e wcr i~eack (3) ~ d~te. wot las tl~sn 3A dsys t~ the aate tl~e ~otlee i~ ~ei to lenower. b ~iikr s~ ~ bresel~ ~rt be c~e~ a~i tMM fap~re to crre s~c6 rreac~ o~ or retore tUc date yeelie~ f~ tbe ~otice a~q resrlt h seederafio~ or ue s~ws ,ectirea 6r d~N Mo~1s.s~. ro~cclo..re b 1~ r'~~[ ~e ot tbe rro~a+r. '[1~e .otke ~ rW frrtrer hfon~ >orr~wer et tMe riRIM fo reiasbfe atter sccekratio~ s~i tl~e ~Mt b areA i~ twe torseleare Mocse~ ~e ~ore:Mewee al s ietarlt or a~f otl~er aelcase of Sorrorrer to aecekrMiae awi to~eelowre. N tre b~ex? i~ ~ot cwei o~ ~ or be(ore the ~al~e qec1~1 i~ eMe aofice. /.eedc~ at t.ew3er's opio~ ~ aeci~re a~ ot fMe w~s see~rs~ bp fld~ A'IoLrta~aRe ~aY dne a~i pyaMe witrort taibe? demand asd a~ay /aeelou tMi~ Mai~a~e b~ M'~~• be ~ to coied i¦ wer potss~ sw ~peeses nf forttlos~ee. Mc1~[. 6iM ¦M W~i/ei M. rearo~uMe stt~xeer's fea. a¦i ~oNs of i~er.~e~Nary r'ide~e~+ ~ei ti11e reprb. 1~, /on~wa~s 1t1~Yt t~ Rei~Mate. Nc?twithstandinE l.ender s accekntion ~ the sums sccured by th~s M~naate. ~ Borrower shall have the risht to have any procoedi~E,s hegun hr l.ender to entorce this Mortsage discontinued at any time ~ ~ ~ ~ n~~'~~312 ~~~:F15Q7 ¢ ~ . .r.. . . ~ . _ : r.~ _~r