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Home My WebLink About2266 . ' . • . - , 1 ; ~ . ~ ~ l.ender's writtcn aa~+ocmcnt or spplicsbb I~w. Borrowcr ~haA pay the amount ot all mort~a~e iawn~e p~emiuaa ia tbe ! manner providod uode~ pan~csph 2 hereot. ; Any amounts disbursed by I.ender punuant to this panaraph 7. with iaterest theceon. sha11 become additional ~ indebtednas ot Borrowcr secured by this Monga~e. Unksa Bonowe~~~~~~~qde~aaroe to dher tenns of payaneM. wch amounts shdl be p~yabk upoo natice from I.ende~ to Bomowe~ roque~t uiik4~thereot. and shsll bear interat from the ~ date of disbursement at the ratc psyabk fmm time to time oe ouhtandins principal under tM Nde unkss payn~nt ot interest at such rate would be contnry to applicabk law, in which eveot such amounts shall bear interat at the hith~st rate j permi~'bk under applicabk law. Nothing contained in this pangnph 7 ahall requite i.ender to incur any expe~»e or take any action herwnder. i. I~eetiM. Lender may make or cause to be made rcssonable eotrias upon and inspections ot tt~e Propetry. providod that Lender shall Sive Borrower ndice prior ta any such inspection specifyina rcasonabk cawe therefor rctated to Ld~der's ~ interest in the Property. ' ! Co~ieNantiow. The proceedc of any award or claim for damages, diroet or consequential. in eonnection with any coodemnatio~ or other takina of the Property. ar part thereof, ar for conveyance i~ lieu of condemnation. are heteby assisned and ~all b~ paid to l.ender. + 1n the event of a totil takinE of the Propeny. the proceeds ~hall be applied to the sums secured by this Mortssae. with the exce.a. if any, paid to Bormwer. in the event of a partial taking of the Property. unless Borrower and Leoder ~ olherwise sgree in writing, there shall bt applied to the sums securcd by this Mortgage such proportion of the procee~ as is equal to that proportion which the amount af the sumx securcd by this Mortgage immediately prior to the date of ~ taking bears to the fair market value of the Property immediately prior to the date of taking, with the balanoe of the procaeds paid to Borrower. ~ if the Property is abandonal by Bor:ower. or if. after notice by t_ender to Borrower that the condemnot otfers to mate an award or settle a claim for damages, Be~rmwer fails 1o respond to l.ender within 30 days after the date such notice is r maikd, I.t11dC~ K~UIIIMIZCd 10 COIICCI and apply the procecds, at i~nder's option, either to ratoration or repair of the Property or to the sums xecurcd hy this MortRage. Unleu I_ender a~d Borrower othervvice agree in writing, any such application of pmceeds to principal shall not extend . or pcutpone the due date of the monlhly inslallments referred to in ~arsgraphs 1 and 2 hereof or change the amount of such installmeMs. IA. do~rowe~ Nof Rekased. Extension of the time for payment or modilication of amortization of the sums xcurcd by this MoAgage grlnted by Lender to any cuccessor in interest of Borrower shall not operate ta rekase, in anjr manner. the liability of the original Borrower and Borrower s successors in interest. i.ender shall not be rcquircd to commence proceedings against such suc~cessor or refuse to ectenJ time for. payment or othctwise maa~ry amortization of the ~~~ms securcd by this Mortgage by reason of any demand made by the orieinal Borrower and Borrower's succescors in iMerect. 11. Forbarance by Leade~ NM a 1Yaiver. Any forbearance by I.ender in exercising any right or remedy hercunder, or otherwise aftorded by applicabk law. shall nat be a waiver of or preclude the exercise of any such right or remedy_ . The procurement of insurance or the payment af ta±ces or other liens or charges by Lender shall not be a waiver of Lender s right to accelerate the maturity of the indehtedness secured hy thic Mortgaga 12. Reo~edies CemnWhe. All nemedies pmvided in this Morfgage are distinct and cumulative to any other right or rcmedy under this Mortgage or af[orded by law or equity, and may 6e exercised concurrcntly. independently or succetsively. ' 13. Soecessas aad As~s Bound: Joint aad Sereral i.iab7ify; GpUoas. The covenants and agreements herein contained shall bind, and the rights hereu~er shall inure to. the respective successors and assigns of Lender and Borrowe~- subject to the provisionc of paragraph 17 hereof. All covcnants and agreements of Borrower shall be joiry and several. The captions and headings of the paragraphc ~f this Mortgage are for convenience only and are not to be uad to interprct or ckfine the provisions herec?f. 1~. Notiee. Except for any notice rcquired under applicable law ta be given in another manner. (a) any notice ta Borrower provided for in this Mortga¢e shall tx given by mailing such notice by certifled mail addressed to Borrower at the Property Address or at such aher address as Borrower may designate by notice to i_ender as provided herein. and (b) any notice to Lender shall he given by cenifieJ mail. return receipt rcquested. to I.ender's address stated herein or to such other addrcss as Lender may decignate by n~tice to Bormwer u provided hercin. Any notice provided for in this ; Mortgage shall be deemed to have been given to Bc+rmwer or 1_ender when given in the manner designated herein. 'i 1S. Ua~orm Mo~t~a~r. GoverninR Iaw: Severability. This form of mortgage combines uniform covenants for national i use and non uniform covenams with limited variations b~• jurisdiction to constitute a uniform security instrument covering ~ real property. "fl~is Morlgage shall be governed by the law of the jurisdiction in which the Property is located. Tn the ~ event ~hat any provision or clauce of thia Mortgage or the Note conflicts with applicabte law. such conflict shall not affect other provisions of this Mortgage or the Note which can be given etTect without tfie conflicling pro~ision, and ta this end the provisions of the Mortgage and thc Note are declared to be severable. 16. domowe~s Copy. Borrower shall bc furniched a conformed cop~~ of the Note and of this Mortgage at the time of execution or atter recordation hereof. ~ 17. Transter of tbe Prope~: Assumption. if alI or any part of the Pr~perty or an interest therein is sold or transferred by Borrower without Lender s prior writ~rn conseot. excluding (al the creation of a lien or encumbrance suhordinate to this Mortgage. (b) the creaUon ~f a purcha~e mvne~• ~ecurit}• interest for household applianca. (c) a transfer hy devise. descent or by operation of law upon the Jeath of a joim tenant or (dl the grant of any leasehold interest of threc ycars or less not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender chall have w•;,ived such option to accelerate if, prior to the cale or transfer. l.ender and the. person to wham the Property ic be +ol.t or tr•rnsferred reach agreement in writing that the credit of ~uch person is satis[actory to Lender and tha~ the inter~w~ payable on the sums secured by this Mortgage shall be at such rate ac I.ender shall requat. if [_ender has waived the o~ion to accelerate provided in this paragraph 17, and if Borrower's successor in interat has executed a written assumption agreement acceptcd in writing by I_ender. Lender shall releau Borrower from all obligations under this Mortgage and the NMe. if Lender exercises such option to accelerate. Lende~ chall mail Borrower notice of acceleration in accordanc~ ~~h paragraph 14 hercof. Such notice shall provide a period of not lesc than 30 days from the date the notice is mailed w•ithin which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration nf cuch periad. [.ender may, without further notice ar demand on ~rrower. invoke any remedia permitted by paragraph tR hereof. ~ Nota-UH~FORn~ CovEtv~NTS. Borcower and Lender further covemnt and agrce as folloas: 18. Accekratio~: Rea~edia. E=cepl as Provided i~ psra6~aph 17 Uereof. ePo~ Sorno~er's bresc~ of a~y coreeaut or a~ret~oeot ot Eorrower In t6k Mortaaae. i~cfudlu~ the rn~caaMs to pay wbea dne aey snms xcere~ by tbts Mort~e. I.ender ~ prb~ to sccekrstioa s1~aN a~afl sotice to Eorro~+er as provided is para~raph 14 btteot specityio=: (1) tre brescb: (21 the action rsqnired fo cure sucM brescb; l3) a dNe. sot las tban 30 dsys fro~a tbe date tbe aMice b s~ailed to Eorrower. b!' M'hkh wcr breac6 a~wt be crnd; aod (1) thst fdlnrc to c~re snch breich o~ or betore tre date speci6ed iw tre aotke msy r+csult is sccekrstbw ot t6e mess sccared by tMis MortSsRe. tweclo6ure ~ judicial proceedia~ aad stle ot tbe Properh. 71~e notke shaY fYrtkcr ieforw Eorrower of tre riRM to reiastste afler sccekritiow sod tre ~ht to ~sert i~ tUe torecbsure proeeedi~L t~e ooa~exWence of a defaoN o~ aoy otber defewse ot Qorror?er to scceleratioa and foreclosere. If We breacb is eot awred o~ or before fhe date speci~d L tbe wotke. Leede~ at [.enekr's oplb~ ~ dcchre sN of t~e sra~s sec~red by thk Mort~a~;e to be io~~eedia~dy d~e sn~ paysWe witNoYt t~rtbcr demand and may foreclose this Mort~a~e by j~dkW proeeedi~. i.ender cAall n be entldtd to coUect i~ src~ ~roeeedia~ d e:peases of foreclosore. iaclndis~. bM noi iia~ited to. na~o~sble annrncv's fees. aad costs of doc~~e~tary e~ide~ce.:bstrscb and titk nporis. 19. fon~uwa's Ri~t to ReL~tde. Nc?tvvithstand~ng l.enders acceleration of the sums securcd by ~h~~ Mortgage. Borrower shall bave the right to have any proce~dings he~un ~+y i.endtr to enforce this Mongage discontinued a~ any time g~ 31z PAGE z~64 ; __y~____