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Home My WebLink About0609 Lender's written agreement a applicable law. Borrot~ror;shali pay~tl~~unt of all mortgage insurance premiums io the manner provided under puagraph 2 hereof. - ` ~ Any amounts disbursed by Leader pursuant to this paragraph 7. with interest thereon. shalt beoonre additiond indebtedness of Borrower tbcured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such - amounb shah be payable upon notice from Lender to Borrower requesting payment thereof, and shall bar interest thorn the date of disbursement u the rate payable from time to time on outstanding principal undue the Note unesa paytneat of Interest at such rate would be contrary to applicable law. in which event such amounts dull bear interest u the highest rats permissible under applicable law. Nothing oontaiaed~ia this paragraph 7 shall require bender to inctur any expanse otr testa any action hereunder. ft. Iasteettoi. Lender may make or cause to be made reasorrabk entries upon and inspectior>s of the Property. provided that Lender shall give Borrower noose prior`to any suer inspection specifying reasonable cause therefor related to hander's interest in the Property. - - 9. C~ The proceeds of any award or claim for damages, direct or consequential. in oonnectloa with say condetrrnation or other taking of the Property. or part thereof. or for conveyance in lieu of condemnation, are herrb~y assigned and shall be paid to Lender. In the event of a total taking of the Property; 4tia`pt~bdebds shall be applied to the sums secured by this Mortgage. with the excess, if any. paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing.. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds a: a equal to that proportion which the amount of the sums secured 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 balance of the pmoxd: paid to Borro+ver. If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor otters to malro an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such aotioe is nulled, Lender is authorised to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or to the sums secured by this Mortgage. Unless Leader and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly imtaliments referred to in paragraphs 1 and 2 irer+eof or change the amount of such imtallments. lA. a Not Rdprred. Extension of the time for payment or modi&ation of amortiution of the sums secured by this ort1?11r gag granted by'Lender to any successor in interest of Borrower shall not operate to skate. in any aunna. the liability of the original Borrower and Borrowers successor: in inter+at. Lender shall not be required to oomanersoe proceedings against such successor or refuse to extend time for payment or otltttswise. modify stmottization of the suns secured by this Mortgage by reason of any demand made by the origipd Borrower and Borrower's suoo~rs in internat. 11. Forbeanace by Leaser Not a Wainer. Any forbearance by Lender in exercising any right or remedy hereunder. or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or r+enredy. The procurement of irrsuranoe or the payment of taxes or other liens or charges by Lender shall not be a waiver of ixnder's right to sceekrate the maturity of the indebtedness secured by this Mortgage. ~ - - 12. Rearedies CsaaWtrs. All remedies provided in this Mortgage are distinct and cutnulativo to airy other right or remedy under this Mortgage or afforded by law or equity. and may be exorcised concurrently. independently or snooessivdy. 13. Saecessors sal Aastgas 1owi; Joint sell 8ereral Liabil~ CsFtiost. The covenants and agreexawts herds contained shall bind. and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. A11 covenants and agreements of Borrower shall be joint and several. The captiom and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to ` interpret or define the provisions hereof. ~ 14. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to Borrower prav'rded for in this Mortgage shall be given by mailing such notice by certilkd mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice' to Lender as provided herein, and (b) any notice to Lender shag be given by certified mail. return receipt requested. to Lender's address_st_ated_heren or to_ such other address as Lender may designate by notice to $orrower as provided herein. Any notice provided for in this M_ ortgage shall be domed to have been given to Borrower or Lender-when given in the manner designated herein. 15. Udforal Mortssge; Gorsniog Law; Sercrabiilihr. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a un'sform security instrument covering real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to this end the provisions of the Mortgage and the Note are declared to be severable. 16. bon+owa's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Treader of the Property; Assamptioa. If all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent, excluding (a1, the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances. (c) a trarufer by devise. descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years 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 shall hace waived such option to accelerate if, prior to the sale of transfer. Lendex and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Leader shall request. if Lender has waived the option to atxekrate provided in this paragraph l7, and if Borrower's srroaxasor in interest bas executed a written assumption agreement accepted in writing by Lender, Leader shall release Borrower from aU obligations under this Mortgage and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower notice of aooekration in acoordanoe with paragraph 14 hereof. Such notice shall provide a period of not Tess 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 such period, Lander may. without further notice or demand on Borrower. invoke any ranedies permitted by paragraph 18•her+eof. NoN-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follow:: 1f1. Accdesritloa; ReiKdies. Bscept at trorlied d teeagrapi 1711reccot, aloes bsrrowes's bresei of say eavsasat ar agreeseat of borrower L finis Mortgage, tk eovearrat: to !h' wiew sae say war aetar+ei ft7 tlrla Morlgsgs, Lsaier trier fo seedastloa siaY raaril oofke fe borrower as rroritled k tsragrati 14 ieeeot speeityiagl (1) the the sdisa regdred fe care saxi >leesc~ (3) a ds&, aof less Ihsa 3i dap from fire date tine notice Y aattYai fo berrswaq b wild wen breach roast rte erred: sari (4) fist fsYare /o care wen beesch oa or hdora rye dda eteeliad Y fire sotlea Easy iaaeit ire scederatloa of t'ye sera aecar~ei b7 Ilia Mortgage, tor~edawrrs b isdicdal troeesdiag aei ask ofE fire !sa*estl. Tie aMks sluff ifeather hiforla berrower of tie rtglrt to rebsatafe after saderstloa sad fie right a greet b fie tssaelaaasa teacasi¦g die aoa~es3stasee d s ia!<aalt or arsy other defense of borrower fo aeceierstba safi torecfeawra. lft the ba+aattr le set coral rR or betere the da4 apeeYea k tie aotiee, Lesser d i.esrders ottba say aaelesa v e# the err aecsrtei b tics Is ins be eatlflei N tolMatt k ~ prsceeahg ai ezteaaas o[ tor~eelowre, iaeh>t~, bN aetli~iei reaaoas6ls att?ras~i treas. aattl coals of iot~errtary o+iiet.ee. a6aftaefs sari title retsrb. - 19. boerower'i Right to Rsiatafe. Notwithstanding Lender's acoekration of the sums segued fry this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortpge dacontinued at any time '?~3~.5 P~~f 6~'l hoax