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Home My WebLink About2489 L • ` . ' ~ i, j r Lender's written agreement or applicabk law. Borrower shall pay the amount o[ all mortgage inwrattoe praniums in the manner provided under paragraph 2 heroof. Any amounts disbursed by Lender pursuant, to this paragraph 7, with iatercst thereon, shall become additional indebtedness of Borrower secured by this Mortgage. Unkss Borrower and Lender agree to echo terms of payment, such amounts shall bt payable upon notice from i.ender to Borrower requesting payment thereof, and shall bear interest tress this date of dtsburst:rnent at the talc payable from time to time on outstanding principal uuddr the Note unless paysoertt d interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rats permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur say expense or taloe any action hereutder. >L Tas~ecaas, i_ender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lettdet's interest in the Property. 9. Coniensrtatiow, The proceeds of any award or claim for damages, direct or oonsequeatial. in oorutection with asst' condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of condemnation. are heeeby assigned and shall be paid to Lender. Tn the event of a total taking of the Property, the proceeds shall be applied to the wms secured 6t' this Mortgsge. with the excess, if any, paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Fender otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the q+ooeeds as is egwl to that proportion which the amount of the sums xctrred by this Mortgage immediately prior to the date d taking bears to the fair market value of Ilte Property immediately prior to the date of taking, with the balattoe d the p~ooeedt paid to Borrower. If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to tstaloe an award or xttk a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice b rtNikd. Lender n authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair d the Property or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shag not exlatd or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the antourtt d such installments. 10. liorrawer NM Rekasel. Extension of the time for payment or modifkation of amortization d the sutras secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner. the liability of the original Borrower and Borrowers successors in interest. Lender shall not be required to oomnrerroe proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the arms secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's tntceessors in interest. 11. Fobbearawce Iq Leader Not a waiver. Any forbearance by Lender in exercising any right or remedy Iterettrtder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercae of any such right or teatedy. _ The procttrcment of insuranc~or the payment of taxes or other liens or chargeses 6v~i>d~ sh~~be a wailet<Ld i.ender'a__.__ right to acceknte the maturity of the indebtedness secured 6t' this Mortgage. _ l2. Rer~edks Caassdaavc. All remedies provided in this Mortgage Ar+e distinct and cumulative to any other right or rcrnedy under this Mortgage or afTorded by law or equity, and may be exercised concurrently, independently or wooessiveiy. 13. Seecessors ntrtd Asdgns Boawd: Joiwt sad Sexed i.isbilfty; CaplMns. The covenants and agrcemertts herein contained shall bind, and the rights hereunder shall inuug to. the respective successors and assigns of Lender sod Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joir~ and several. The captions' and headings of the paragraphs of this Mortgage are for conven"rence only and are not to Ik used to interpret or define the provisions hermf. 14. Noaee. Fatcept for any notice required under applicable law to be given in another manner, (a) any notice fo Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addresxd to Borrower u the Property Address or at such dhcr address as Borrower may designate by notice to Tender as provided herein, and (b) any notice to Lender shall he given by certified mail. return rteeipt requested. to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower ss provided herein. Any notice provided for is this j Mortgage :hall be deemed to have been given to Borrower or Lender when given in the manner designated herao. IS. Utdforsn Mortgage; Govedag Law; Severabil&y. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to rnrestitute a uniform security instnrrrteM eoveriu~ 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 chic Mortgage or the Note rnnflicts with applicable law, such oouAict shall not afTect other provisions of this Mortgage or the Note which can be given eBect without the oonAicting provision. and to this end the provisions of the Mortgage and the Note arc declared to be severable. lf. Isorsower's Coq. Borrower shall be furnished a conformed cop~• of the Note and of this Mortgage the Ytme i of execution or after recordation hereof. 17..Trwfer of tee Property; Assnrnptiow. Tf all or any part of the Property or an interest therein is sdd or transferred by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase money security interest for hortsehold appliances, (c) a transfer by devise. descent or by operation of law upon the death of a joint tenant or (d) the gent of any leasehold interest of three yeas 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 have waived Stich option to aecdente if. prior to the sale or transfer. Lender and the person to whom the Property is to be solJ or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the inten-st payable on the sums secured by this Mortgage shall be at such rate as Lender shall r+egttest. if Lender has waived the option to acoekrate provided in this paragraph 17, and if Bon+ower's successor in interest has executed a written assumption agreement accepted in writing by Lender. Lends shag releases Borrower from all oblj`ations under this Mortgage and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance M•ith paragraph 14 hereof. Such notice shall provide a period of rat less 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 wms prior to the expiration of such period, Lender may. without further notice or demand on Borrower. invoke any remedies permitted by pansraph 18 hercaf. i Norr-UNrt=otttrt Covt=_rnetrrs. Borrower and Lender further covenant and agrsx as follo+rs: lfi. Actderaaon; Rerrte~a. Euegt s proviiei i• Nrapa*It 17 Iterest. tspn Sorsrwes's isener st a¦y eaverstt K agroeasertt d borrower li¦ trls Mortgage. ineitdGtg the covewaafs to My wlrca lie atsy sssr seenrsi if this lYiort~e. I.anler prior is aceekraao. sitia..aN .once to liono.?a as pro.laca d prssrapU 14 ttescot s*eettyl.~ tl) oe hrsaelu ts? fire aeau rq.iel to crate seer isene~ t3) s ire. tree fiesa start 3t lsys irsrrt tee dale ate troaee b atdiel M Mssnwer. b whiefat acrd tts+eaeh rust he c•ac~ ant (n fiat tailttte a c.rc atelt ftreaelt a or adore tare late speeMei V the wefiei r¦sy resat bs # at:eeieraasw oft the stns tstxarel by alb Iblorrg,.ee, foseeiowre h 1~~ N' aai ssk of arc rroperty. 'rate tsaaes ~ sraM trflrer itttosrrs Itorrrrwer d fee rfgM to reinstate after aeakraaon sssl tee right fo assert i• tee fireeNawo prrceeittB ~ tee nors•arMenes d s ldaait or ah otter lderae of >forrower to accekraftert arts toreeio..a. rate ltaeaii b nest esd M er reterr are arc geefiei V ate .otke, leveler at Lender's optlott .ay leeiare alt of ate s... seenrei b acts Merfsstpe fsr lle ttn.eiiateiy ine antl pyahic..ifbr tnrtlter demand antes may fer+eeiose tYs Metrlgage b 1tdkW w«K+rl.r(. Lender drat i be eaaael N collect r sne>t p~seeeliag ar e:pe.ses r?f rereclostsr+e, ineitdia~. tint test intUai Mr rea»ntaYe snurnretrls fees. a>td casts of nioestr~nhry e.Menee, a6siracfs ant tkk reNrb. 1!. /onsrwa's RfjMt t• adnMatt. Notwithstanding Lenders aecskration of the sums stnaned by thn MortpRe, Borrower shall bave the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at guy time i B~ 315 ~~24~d