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Home My WebLink About1515 • f Lender's writlen agrecment or applicabb law, Borrower shali pay the amount o[ ail morigage insuranct pt+emiums in the , maancr providcci undcr paragaph 2 het~eo[. A~y amou~ts disbursed by I.ende~ pursuant lo this paragraph 7, wi~h inte~est therca~, shall bccome additional indebtednas ot Borrowc~ secured by Ihis Mortgaae. Unkss Borrower and l_ernler agrre to other temu of payment, such amounts shall be payabk upan ootice fmm I.ender to 8orrower requestieg puyment thercof, and shall bear iotercst from the ~ date of disbursement at the rate payahk from time to time cu~ a~tstanding principal under the Note unless payment of interest at auch rate would be contnry to applicable law, in which event such amcwnls shall bear inte~est at the highest rate ~ pertnissibk under applicabk law. NMhing contained in thic paragraph 7~hal) requir+e I~nder to incur any expense or take • any action hercuader. ; a. las~ectio~, l.ender may make or c~use ta be made reaconable cntries u~n and inspoctions of the Propetty. provided ti~at l.ende~ shall give BoROwer noticr prior to any s~~ch i~spection specifying rcasonabk cause therefor related to I_ender's interest in Ihe Propetty. 9. Conde~usliow. The proceedc of any award or claim for damagcs, direct or consequential, in cannection with any condemoation or other taking af the Property, or pah tl~ereof, or for conveyance in lieu of condemnation, are heteby assigned and shall bc paid ta i.endcr. in the event of a total taking of the Properly. the proceeJs chall be applieJ to ~he sums secured by ~his Mortgage, with thc excess, if any, paid to Bonower. ln thc cvent of a partial taking af the Property, unless Borrower and Lender . olherwise agree in writing. therc shall be applied to the sums securcd by thic Mortgage such proportion of ihe proceedc as is equal to ihat p~oportian w~hich the amotint of Ihc• sumc tec~~red by this Mortgagt immediately prior to the date of taking bears to the fair market value of thc Pmpcny immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. - - ~ if the Property is abandoned by Bor:ower, or if. after notice hy l.ender to Bormwer that the condemnor offers to make ~ an award or settle a claim tor damages, Bc~rrower f~ih ~o r~~~xnd to 1.eoder within 30 days after the date such notice is ~ mailed, Lender is authoriied to collect artd appl~~ the prc~ceeds. at l.ender's c?ption, either to restoration or repair of the Property or to the sums sccured hV''this Morrgage. Unles~.ender and Borrbw~lf Mhervvice ag~ee in writ~ng. any tuch applicatinn of proceeds to principal shall not extend or po4lpanp the due dale of the monthly inslallmeMs referrcd to in paragraphs 1 and 2 hereof a~ change the amount of such installments. 10. Bormwe~ Nof Rekased. Extension o( Ihe time fi~r paymenl or modification of amortization of the sums secured by this Mortgage granted by l.ender ~o any cuccecsor in interest of Borrower ~hall not ope~ate to release. in any manner. the liability of the original Borrawer and &~rmwer'~ succes~on in interest: I_ender shall not be required to rnmmence : proceedi~gs against such suttessor or refu~e to e<~end time for payment or otherwice mcxlify amortizat~on of thc wms se~:ured by this Mortgage by reason of :~n~• demand m~de b~~ the oriQinal f3ormv?e~ and Borrower s succes~ors in intere~t. 11. Forbtarance by I.tuder Not a Waiver. An~• f~rhearanrc hy Lcnder in erercising any right or remedy hereunder. or ~ othenvise afforded by applicable law. ~hall ncit hc a waiver of or preclude the exercise of any such right or remtdy. The procurement of insurat~ce or the payment of tares or other liens ~~r charges by l.ender thall not he a waiver of l.ender s right to accelerate the maturity of the indeMednecs securcd hy thi~ Alortgage. 12. Remedies Cumulati~e. All remetlies pr~vided in this !1lortgaRe arc dislinct and cumulative to any other right or remedy under ihis Mongage or affordcd hy law or equily, and may hc crerciced concurrenNy. independenQy. or succeuively. ~ 13. Soccessors and Assi~as Eound; .]oint and Se~•eral I.iat~ilify; Captbns. The covenants and ~greements herein contained shal) bind, and the rights hereunder shall inure ro. thc respective succecsors and assigns of [_ender a~d Borrower. subject to the provision~ of paragraph 17 hereof. All covenants and agrerment~ of Bormw~er shall lx joir~ and several. "The captions and headings of the paragrapha of ~hic Mortgage are for convenience anly and are not to he uced to interpret or define the provisians hereof. _ 14. Notke. Except for any n~tice rcyuired under applicable law~ to be given in another manner. (a) any notice to Borrower provided for in this Mortgaee shall be gi~•cn h~• mailin~ tuch notice b}• ccrtificd mail addresscd to Bormwer al the PropeAy Addresi or at such other addres: at Rorrowcr ma~• decignate b}• notice to i.ender as providcd herein, and (b) any notice to Lender shaq he given hy certified mail. return receipt requeated. to l.enders address stated herein or to such other address as I.ender may decigna~e by n~tice t~, Bc?rmwer as provideJ herein. Any notice pmvided for in this Mortgage shall be ckemed to have t+ecn Rivcn to Borrowcr ur I.cnder w•hen givcn in thc manner designated herein. 15. Unifona MorlRa~e; CoverninR Iaw~; Se~eral?ilih•. Thi~ tarm af mongage rnmbines uniform covenants for national use and non-uniform covenanis with limited variationc M• juricdiction t~ constitute a unifortn security instrument covering real property. This Mortgage shall be governed h~• ~he law• of the juricdiction in which the Property is located. In the i event that any provision or clause of thi~ M~ttb~ge i~r the Nole rnnflictc w~ith applicable law, such conflict shsll not aftect ~ other provisions of this Mortgage or the N~~h vrhich can be given efTect withoiit the conflic~ing provicion, ar~d ro this ~ end the provisions of ~he Mortgage and thc '~Iote arc Jcclarcd to he severablc. ~ 16. Bormwer's Copy. Borrow•er shall Fx: lurni~heJ a conformed cop}' of the Note and of this Mortgage at the time ~ of ~xecution or after recordation hereot. ~ 17. Transfer of the Propertp: As~cumplion. If all or an~~ part of Ihe Pmperty or an interest therein ic sold or trancferred ~ by Borrower without I.rnder's prior wri~~rn ~~~nun~. e~cluding fal the creation of a lien or encumbrance sut~ordinate ta f this Mortgage, (b) the ereahon of a purchac~ m~mrc .ecurit~• iMerest f~r household appliances. (c) a tran~fer M• deviu. descent or by operation of law upoo thc dcath i,f a j~~~nt tenant or (d? thc grant of any leaseh~ld interest o( thrcr ~~car~ or lecs not containing an option to purchase. [_ender may. at Lender'1 option, declare all the sums secured hy this Mortgage to be ' immediately due and payaMe. I.ender shall have waivrd wrh option to accelerate iL prior to ~he .ale or tranifcr. I.ender and the person to whom the Property i. a~ be .ol.l or tra~cferrrd reach agreement in w-riting that the credit rf wch per~on is satisfactory to I_ender and that the interc,~ pa~•able on the sums secured by thic Mortgage shall be at such rate a~ (.ender . shall request. if Lender has waiveci the opti~n to accelerate pm~•ided in this paragraph 17, and if Bormwer i,uccesscir in interest has executed a written assumption a~ereement accepted in wri~ing bp i.ender, [.enckr shall releace Borrower from all g obligations under this Mortgage and thc Note. ~ If I.ender exercises such option t~ accelerale. t.enJer ~hall mail Borrower notice of acceleration in accord:mc< ~~h ~ paragraph 14 hereof. Such notice shall provide a periexl of not Ies~ than 30 day~ from the date the noticc is mailed ~i~hin ~ which Bormwer may pay the sums declareJ due. !f Borrower fails ro pay such cums prior to the expiration of tuch peri~~d. ~ Lender may, without further notice or demand on liorrow~er, ~mokc anp remedies permitted hy paragraph IR hereof. . } Notv-UtviFORtit Covetv~tvTS. Borrower and l.ender funher covenant and agree as follows: ~ 18. Acceleratbo; Remedies. E:cep as pmvidcd in para~raph 1'7 hereof~ upon Borrowet's brexh of sny covenant or ~ a6reemeat of Borrower io thts Mortgage. including the corenants to pay when due any sums secnrcd by this MortRsRe. (.ender ~ prior to accekntbo shall mail aotice to Borrower as provided in para~raph 14 l~ereo[ specifyin`: (1) the bresch: (211he action r requlred to cure suc6 breseb; (3) a dste, aot less Ihan 30 days (rom the dale the notice b maikd to aomorrt~. by which such F breach mu~st be cund; and (4) that failure to cun such breach on or bcfore tbe date speciSed in the notice msy recult in - secekration of t6e sums secorod by this Mort~age, foreclowre by judicial proceedir~ and sak of the Prope~ry. 'Il~e notice shall furtber iaforn~ Borwwer of the ~~i1 to reinstatc after sccekration and the right to ~sert in the foreclosure proceedi~ ~ ~ the uon-ex~stence of s defauk or any other defease of Bonower to accekrstion and foreclosure. If the breach is aot cnred on ~ or betorc the dste speci6ed in tbe notice. l.endrr at I.ender's eption may declarc aq of the sun~s secured by fhis Mortga~;e to be . ~ immediately due and payable without further demand and may foreclose tb~ Mort~sse by judlcisi proceedin~. I.ender shall ~ be eotitkd to colkct in snc6 proceedi~ a8 expenxs of foreclosurc. includint. but oot limited to, reasonsbk ap„rorv's fca. ' ~ and costs ot ~wc~~oeatary erideoce. a66tracls and litk nports. ~ 19. sorrowa's Ri~bt to Rtinstate. Notw~ithstandin~ I.ender's accderat~on of the sums secured by thr Mortgage. • ~ Borrower shall have the right to have any procerJmc+ txgun ~y l.e~der to enfcxce this M~rtgage discont~nued ~t an}~ time r ~ ` 312 fA~~E~513 ~ ~ _ ~ ~ _ _ _ . - _ _ - - - - - _ . . -