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Home My WebLink About2110 ~ _1 . _ ' . P . . e f . ~ s Leader's writiea agrament or applicablo law. eomoww ~i p,?y ~n~ ot mon~e ~w~i~~~t~~~s 1~ ~ maaner providai uode~ pa~s,~npb 2 heceof. ~ ~ Any amounts disbursed by I.ende~ pursuant to this paragnph 7. with inte~st thereo~. shall become additio~al ~ indebtod~ss ot Borrowcr securod by this Mort~age. Unless Borrowe~ and l.rnckr agree to other tenns of paymeM. such ~ amounts ahall be payabk upon ~wtice trom [.ender to Borrowc~ requating payment the~eof, and shall bea~ inlerest fmm the ~ date of disburxment at the tats p/~ bb [r~ time to time on out:tanding priocipai under the Note unkss pa~t of { interesi at such rate would be contta~? to applicabk law, in which event such amounta shsll bezr interest at the hiahest nte y permiasibk under applicabk law. Nothing contained in this paragraph 7 shall rcquioe Lende~ to incur any expense or talce ~ any action hereunder. ~ S. i~ectlow. Lender may make or causc to be made rcasonabk entri~s upon and inspoctions of the P~operty. provided i that I~nde~ shall ~ive Borrowe~ notice prior to any si~ch inspectian specifying rcaso~abk cause thercfor relatod to Lende~'s ~ intercst in the Propeny. 9. Ca~dew~~alio~. The praceedc of any award or claim for damaga. dircct or consequeatial, in rnnnection with any ~ condemnatan or dher taking of the Property, ar part thereof, ar for ccxweyance in lieu of ccmdemnation. are ha+eby assi8ned ~ and shall be paid to Lender. j Tn the event of a tolal taking of the Propeny, the p~oceecis shall be applied to the sums secured by this MoKgagc, with the excesa, if any, paid ta Borrower. in the cvent of a panial Iaking ot the Property. unlas Borrower and Lender ~ otherwise a~rcc in wrilin~t. there shall be applied to thc xums secured by this Mongage such proportian of the prooeeds as is equal to that proportic?n xhich 1he amamt of ~he sumc secured by this Mongage immediately prior to the date of ~ taking bears to the fair market value of the Propcrty immediately prior to the d~te of taking, with the balaRCe ot the proceeds ~ paid to Borrower. • ~ if the Property is abandoned by Bor:ower, or if. after natice by l.ender to Borrower that the condemnor offers to malce an award or settTe a claim for damages, Borrower fail~ to res~nd to l.ender within 30 days after the date such notice is ~ mailed. Lender is a~rthorized ta colkct and apply the proceeds. at 1_ender's optian, either to restontion or repair of the P~openy or to the sums securcd by this Mc+nRage. t Unless Lender and Borrower othervvise agree in writin~e. any such application af proceeds to principal shal) not extend t or postpone the due date of the monthly installmcnts rcferrcd ta in paragraphs 1 and 2 hereof or change the amount of ~ such installtnents. ~ 10. Dorrowe~ Not Released. Exteosion of the time for payment or mc~dification af amortization af the sums securcd ~ by this Mottgage granted by I.encler to a~y cucces.u~r in imerect of Borrower chall not ope~ate to rcleax, in any ma~lner. the liabilily of the original Borrower and Borrower e successors in interest. l.ender shall not be requircd to commence proceedings against such successor or rcfuce tc+ ertend time for payment or Mherwite modify amortization af ~hr ~ums secured by this Mortgage by reason ot any demand made by the oriQinal Borrower a~d Borrower's successors in inlercct. ~ ll. Forbesraace by i.teder Not a Waiver. Any f~rhearanre b~• l.cnder in eiercising any right or remedy hercunder. or = otherwise afTorded by applica6le law. shall not t~e a waiver of or preclude the exercise of any such right or remedy. ~ The procurement of insurance or the payment of taxes or other ticns or charges by l.ender shall not he a waiver of l.ender's right to accelerate the maturity of ihe indebtedness secured hy this Mortgage. 12. Remedies Cnmulati~e. All remedies provided in thic Mortgage arc dixtinct and cumulative to any o~her right or ~ rcmedy under this Mongage or aBorded h~~ law or equi~y. and may be exerciced concurrently, independently or successively. ' 13. S~tccessoss and Assi~~s Bound:.Joiet aad Sereral i.iab~'lity; Captbra. The covenants and agreements hercin ~ rnntained shall bind, and the rights hereunder shall inure to. the respective successors and accig~s of I.ender ac~d Borrower. ~ subject to ~he provisionc af paragraph 17 hereoL All covcnants and agreementc of Borrower shall be joiN and several. s 'ilu captions and headings of the paragraphs of thic Mongage are for convenience only and are not to be uud to € interpret or define the provisions herec~f. ~ 14. Notiee. Except for any nMice rcqaired unckr applicable law to be given ia another manner, (a) any notice to Borrower provided fo~ in this Mortga¢e shalf be givcn by mailing such notice by cer~ified mai) addressed !o Borrower at f the Property Address or at such olher addresc as Borrower mav designate by notice to i.ender as provided herein. and ~ (b) any notice to Lende~ shall he given hy certified mail. return receipt requested. to l.enders addre~s stated herein or to i such other addtess as Lender may decignate hy n~tice to Bnrmwer as provided herein. Any notice pmvided for in this ` Mortgage shatl be deemed to havc t~een given to Bc?rrower or I.cnder v?~hen given in the manner designated herein. ~ IS. Unitorm MortRa~e; Covernin~; [arr: Se~~erabilitv. Thic form of mortgage combines uniform covenants for national ~ use and non-uniform covenaMs with limited varia~ions h~~ juricdiction to rnnstitute a uniform security instniment covering ~ € real property. 'Tl~is Mortgage shall be governed hy the law of the juritdiction in which the Property is located. In the I event that any provision or clau~e of thic Mortgage i~r the Note conflicts N~ith applicable law, such conflict shal) not affect i ~ other provisions of this Mortgage or the N~~te which can be given etiect without the conflicting provisi~n. and to this ~ ~ end the provisions of the Mortgage and the Note arc declared to tx severable. ~ 16. dorrower's Copy. Borrow~er shall hc turni~hcJ a conformcd cop~ of the Note and of this Mortgage at the time ~ of execution or atter recordation hertof. . s . 17. Traosfer of the Property; Assumplion. lf all ~r an}• pan of the Property or an interest therein is sold or transferred ~ by Borrower without I.ender's prior wrincn concem. c~duding tal the creation of a lien or encumbrance suhordinatt t~ a this Mortgage. (b) the creation of a purchace mone~~ ~ecurity interest fat household appliances. (cl a tramfer h~ devise. descent or by operation of law upon the dcath of a j~~im tenant or (d) ~he grant of any leasehold intercst of threc ycars or le~c ~ not containing an option to purchase. [_ender may, a~ 1_ender's optio~, declare all ~he sums secured by ~his Mortgagc to be : immediately due and payable_ Lender chall ha.~e Naivrd such option to accele~ate if. prior to the ~ak or transfer. [.ender ; and the person to whom the Property i~ tu be :oW ar transferred reach agreement in writing that the credit of wch ptr~on is satisfactory to T.endtr and that the interc.t pa~•able on the sums secured by this Mortgage shall be at such rate ac l.ender shall request_ If 1_ender has waived the option to accelerate provided in ~his paragraph 17, and if Borrower's tiuccessor in ~ interat has e~ceuted a written assumption a~reement accepted in writing by [.ender. Lender shall releau Borrower fr~m all ~ i obligations under this Mortgage and the Note. - if Lender exercises such aption to accelera~e. 1_enJer ~hall mail Borrower notice of . acceleration in accordanc< ~~h paragraph 14 hereof. Such notice shall provide a period of not lesc than 30 days from the date the notice is mailed a~i~hin ~ which Borrower may pay ihe sums declared due. If Borrower fails ~o pay such sams prior to the expiration of cuch pericxl. [xnder may, without further notice or demand on l3orrower. invoke any rennedies permitted by paragraph IA hercof. ~ ~ NoN-UH~FORt?~ CoveH~tvrs. Borrowe~ and l.ender further covenant and agree as follows: : 18. Accekration; Remedies. Exccp! as pmvWed ia paraRrsph 17 hereof. epoa Somowe~'s bresc~ of aey coresant or s`reemeat of DoROwer is t6as Mortsage. i~uai~ ~he co.ew~is ~o par ..aen aoe suy soa~s secerea by ehis Mo~aRe, Lender or prbr to acceieraNoa sbag maii aotict to dorrower as pro~lded in ps~rapb f4 hereot specifyio6: (1) tUe breacA: (2) the sction reqoired to ca~e srch M~eacb; (3) s date. not less lban 30 dsys from tbe date the aotke is oa8ed to Eorrower. by whkh wcb b~ac6 wd be erred; aod (4) that failure to cere such breach on or bcfore the d~e spec~ed is tbe notke may recdt ~p ' aecekrstioe ot tbe s~ss aecored by tl~s MortRaRe. toeeclowre by judlcial proceediaa ~d sale of tbe Pmpe~. 77~e notice r s6aY hrrlber iafona aorrower of the ri~M lo rei~tafe atter sccekration a~ tbe ri~ht to ~ert ia tbe foreclosore proeeed~ ~ t~e ~on.e:istence of a defaqM or aay atbcr detense of Borrower to sccekrstion sod forec{osare. It the brcacA is not c~red oa ~ I or betore the dste spee~ea i~ the notice. i.ender at I.ende~'s option may declan aN ot the sou~s secsred by tbis Mort~si:e to Se i~po~td'ykly due au~ psys6lt wfthout frrlhe? dem•rnd and may forecbse thLs Mo~a~e b~' ~kia1 Pr°etedi°R• I.eader chall i u~ 6e eatided to coUect ~ s~cY proceediu~ aN expenses of foreclosnre. includiu=. bnt aot li~aited to, reaso~able annror~'s fees. ' a~d tosb of wrc~~eNsry erWtnce. abstrscts and Iitk reports. ~ 19. Eo~rorra's Ri~ht to Reis~tate. Ncuvvithstanding l.ender's accelerat~on of the sums securcd by. ~hi> M.irtgage, ~ Borrower shall have the right to have any proceeding~ hc~un hy l.ender ro entorce this Mortgage discontinued at an~• time c~~~iK~~2 ?avE~1W -