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Home My WebLink About0485 . ~ ~ r - Lender's written s~reeatestt a applicable law. Borrower shall pay the amount al aU mortgage insurance ptn:rtsirrmt is the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this parsgaph 7, with aterest thereon, shaq become additional itt~eMednas of Borrower securod by this Mortgage. Unless Borrower and L'eedsE tenets to other terms of Pgwant. suds - amounts shall be payable upon notice from Lender to Borrower requesting payment tharoof, and shall bear intertart fr+ors the date of disbursement, at the ate payable front brae to time on outstanding principal under the Nola unless 4aj?eeat of` interest at such ate would be contrary to applicable law, in which event such amatnb shall bear interest at the bighsst tsAe permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to irtctrr gay axper of tsioe any sction hereunder. ir~eepat. Lender may make or cause to be made ressottabk entries upon and inspections of the Property. provided that Lender shall give Borrower notice prior to any such inspection specifying rcasottable cause therefor related b Leeder"a interest in the Property. Coaieatw~ow. The proceeds of any award a claim for damages, direct or eonsequeatial. in oonrtectioa with any corrderrtnation anther taking of the Properly, or pari thereof, a for conveyance in lieu of coadtmttstion, are hereby assigned and :hall be paid to Lender. In the event of a total taking of the Property, the procoeds shall be applied to the sums secured by this Mortgage. - with the excess, if any, paid to Borrower. In the evrnt of a partial taking of the Property.. unl~ Borrower and Leader otherwise agree in writing, there shall be applied to the sums secured by. this Mortgage such proportion o[ the gooeeds as is egwl to that proportion which the amount of the sums secttrrd by this Mortgage imatediatdy prior to the dale o[ taking bean to the fair market value of the Property immediately prior to the date of taking, with the balance of the pooeeds paid to Bonuwcr. It the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the oondtwrror oQas to tttaloe an award or settle a claim for damages, Borrower fails to rcspotd to Lender within 30 days after the date such ttotioe b mailed. Lender K authorised to collect and apply the proceeds, at Lender's Most. either to restoration or repair of the Property or to the sums secured by this Montage. • Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to prirndpal shag not exlatd or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[ such installments. ill. >torower NM Reieasei. 13xtrnsion of the time for payment or modification of amortization of the rams sapped by this Mortgsge granted by Lender to any successor in interest of Borrower shall not operate to release, in gay manner. the liability of the original Borrower and Borrower's successors in interest. Lender shall not be r+egtrired to oomntertoe proceedings against such wecessor or refuse to extrnd time for paymrnt or otherwise modify amortization st the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Forieararsce iq I.errtlttr Nof a weber. Any fotbeararux by Lender in exercising any right or remedy ltaewdetr, a otherwise aBorded by applicable law, shall .not be a waiver of or preclude the exercise of any such right or ranedy. The procurerrtentt of irn:uraaoe or the payment of taxes or other liens oa charges by Lender shaft rat be a waiter of IRader's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Resieaiea All remedies provided in this Mortgage arc distinct and cumulative to any other right or rertredy untkr this Mortgage or afforded by law or equity. and may be exercised oortcurrently, irndepertdently or wootasivdy. ' 13. Saceasns asid Assigts Itornsah .iciest awtl Several i.ipbis~ty; CaNists. The covenants std agreeatatts herein contained shall bind, and the rights hercuntkr shall inure to. the.respective suooason gad assignts of Lender gad Borrower. subject to the provisions of parsgaph 17 hereof.- All covenants and agreetrtertts of Borrower shag be joint and stweral. The captions' and headings of the paragraphs of this Mortgage arc fot conveaienoe only and an not to lk used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to 6e given in another manner, (a) any notices to Borrower ptvided for in this Mortgage shall be givrn by mailing such .notice by certified mail addressed to Borrower at the Property Address or at such dher address as Borrower may designate by notice to Lender as provided herein. and (b) any notice to Lender shaft be givrn by txrtifled mail. return receipt requested.- to Latdes's address, stated herein or M such other address as Lender may designate by notice to Borrower as provided herein. Airy nt>tioe provided for in fhb Mortgage shall be deemed to have been givrn to Borrower or Lender when given in the raaarter desiputEed hereb. 1S. Uaifors Mortgage; Governaittg Law: Seera6Wty. This form of mortgage combines uniform covrnants for national use and non-uniform covenants with limited variations by jurisdiction to oontstitute a tmiform security instrument aatretiag real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property a located: Ia 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. sad to this end the provisions of the Mortgage and the Note arc declared to be severable. P lf~. Dorresrers CoMr Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17..Tnatrster of ttte Pro*erty; Aswwpionr. if all or any part of the Property or an interest therein is :old or transferred by Borrower without Lender's prior writtcn consent. excluding !al the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase money security interest for Itouseltold appliances, (c) a tramfer by devise. desoatt or by operation of law upon the death of a joint tenant ~ (d) the gent of any leasehold interest of three yeah or ku not t:ontaining an option to purchase. Lender may, at Lender s option. declare all the sums stxured by this Mortgage to 6e immediately due and payable. Lender shall have waived such option to aocelera~ if, prior to the sale or transfer, Lender and the person to whom the Property is to be solJ or tnnsferr~ed teach agroement is writing that the credit of such person is satisfactory to Lender and that the inten~ct payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. 1[ Lender has waived the option to aooekrate provided in this paragraph 17, and if Borrower's stxoessor in interest has executed a written sssumption agreartntt stxepted in writing by I.ender. Lender shall release Borrower from all obljgstions under this Mortgage gad the Note. If Lender exercises suth option to accelerate. Lender shall mail Borrower notice of aueleration in accordance M•ith paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notitx is ma'led within which Borrower may pay the wms declared due. if Borrower fails to pay such sums prior to the expiation of such period. Leader may. without further recline a demand on Borrower. invoke any remedies permitted by paragraph 1 R hereof. Nov-Utrt~otent CovEtvaxrs. Borrower and Lender further covenant and agree as foUo~ws: - lg. Accdastls~ Reseiies. Bxeep ss provtiei it Nragra*It 17 Ita+at. tt~ 1Mrrrswes"a ~aelr st say c+everrt K agroeatrat of llsnwwer L psi Mesigage, trtcieRrrg pte eorewarMs to M7' wlt~ tae nwy stress ssew~si rj psis Msrtdage. Irwaier priotr N secslerapss+ siri.rl wotke m Itorrr+.er as'rovMed r p.r,Rraplt 11 haw[ speerylgs p) pre flseaelt; t=) tfe ntKtisn sstNiei M etee weti kewela (3) a ih. ass less dart 3• ~s fr+ors+ the dale tfe rrstiee r iisrstl N •eesewer. b wYels s~ lnaer astrt be etw+tai; ss,d (41 ptsnt Raifese N etsre strain rreseh aw er betare the dale s*seMatl V pre tostfee asy resent r aoeeie:atlssi s[ ~ str esetrrei df' this Msrtgage, foreelewre b }ttfiehl lreceetlrrtg anti sulk a[ tfe >rtr~erty. 71te tsstiee sW twpoer ittartrt •srrsiwer et the right a tntitwalr after aeeekralkn and ptt right is ssstirt i• Mte tKeeMswe Naassig the aces-e:Meatx of a de[aaM or aq etfter iefeise of >tornwer a aeedersliso antl fissdasttse. R t11e Meseh is test eased M ar tidsse pre dale spsdied `pee teepee, Lessder N I.eaier's opefi~ ter Aeelsre si N prs tar seerrnsi ~ pri Mssrgrslpr to fie ttsr~aley tlnc ttsti ~aMc wiptortt Miter dcwand std rrtsy fareelsse Ais M.rl1eage b lr+~ w~lF t•Mder slr.D be ,raMAsi a csisct i• steer psaewiing si espnses of foreclosure. laeisdirrg. Inst .it >rllsd tom- seass¦sYe sttureers fees. gad essls a[ rleerrtaalatr)? etritlree. srstreets srtd ripe reMrb. i!. ltsrsrwa'~S iltfgrt N Rsi¦stats. Notwithstandint l.ertder's aooderatiort of the sums sawed by the Mortgage. Borrower shall bsv~e the right to have arry_prooetdingt begun try Lender to enforoe-this Mortgage discortdmred st goy bate- g~316 P~ 485