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Home My WebLink About1244 a.. . ~ Lender's written agreement or applicabk law. Borrower shall pay. the amount of all mortgage insurance pretnitrms in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender purswnt to this paragrgph 7, with interest thereon, shall become additional 1 indebtedness of Gorrowcr securod by this Mortgage. Unless Bomo4irjer.'apH~C.lt~ei~r agree to other terms of payment, sudt amounts shall be payable upon notice from i.ender to Borrower requesting payment thereof, and shall bear interest fr+orn the date of disbursement. at the rate payable from time to time on outstanding principal under the Note tmkss paj?rttntt of ` interest at such rate would be contrary to applicabk law, in which event such amounts shall bear interest at the highest rate permissible under applicabk law. Nothing contained in this paragraph 7 shall require Lender to incur any expease or take any action hereunder. s. Inspection. Lender 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 b Lender's interest in tt•e Property. 9. CatdernnaMsw. The proceeds of any award or claim for damages, direct or rnnsoqueatial, in oonrtection with aa)? condemnatie other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned and shall be paid to Lender. . )n the event of a total taking of the Property, the proceeds chill 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 Letxier otherwise agile in writing, there shall be applied to the sums sccun-d by this Mortgage such proportion of the proceeds as is egwl to that proportion which the amount of the sums secured by this Mortgage immedutely 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 proceeds paid to Borrower. If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor otters to rrtalce an award or settle a claim for damages, Harrower fair to respond to Lender within 30 days after 'the date such ranee is mailed. Lender is authorized to collect and apply the prod ~~tt~rt~ar'l ,gpt~ou.•git~r to restoration or repair of the Property or to the sums secured by this Mortgage. " , - l.: - Unless Lender and Borrower otherwise agree in writi'an)i stit:~t a~p`lication of proceeds to principal shall not extend or postpone the due date of the monthly installments referred t~Yri~paraafa~~'1'•~Iktd 2 hereof or change the amount of such installments. 10. >sorrower Not Released. Extension of the time for payment or modification of amortization of the sums 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 rtgtrired to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Forbearance by Lewder Not a Waiter. Any forbearance by Lender in exercising any right or remedy hercttnder, or otherwise afforded by applicabk law. shall not be a waiver of or preclude the exercise- of any -such right or remedy. The procttrcment of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Remedies Ctsrtrialitr~ All remedies provided in this Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or sttceestively. 13. Sneawsors and Assigas ttburtd: Joint and Several i.isbrliq; Captbas. The covenants and agreements herein -contained shall bind, and the rights hereunder shall inttrr to. the.rapective successors and assigns of Lender spd Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joirlf and several. The captions-and headings of the paragraphs of this Mortgage are for convenience only and art not to lie used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicabk law to be given in another manner. (a) any notice to Borrower ptoovided for in this Mortgage shall be given by mailing such notice by certi&d mail addressed to Borrower at ' the Property Address or at such other address as Borrower may designate by notice to i_ender_ as provided herein, and (b) any notice to Lender shat) be given by certified mail. return receipt requested. to Lender's address stated herein or to such other address as Lender may designate by notice- to Borrower as provided herein. Any-notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. - 1S. Uwifoan Mortgage: Governing Law; Severabiiitr. This form of mortgage combing uniform covenants for national use and non-uniform rnvrnants with limited variations by jurisdiction to constitute a uniform 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 applicabk law. such conflict shall not affect . other provisions of this Mortgage or the Note which can be given effect without the eonfliding provision, and to thts end the provisions of the Mortgage and the Note are Declared to be severable. 16. Borrower's Copt. Borrower shall be furnished a conformed cop), of the Note and of this Mortgage at the time of execution or after recordation hereof. - 17..TrarrsEer of-fie hoperfr; Assowtptiow. if all or any part of the Property or an intetYSt therein is sold 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 lateral for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant of (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 tht sums sxured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender - and the person to whom the Property is to be co1D or transferred reach agreement in writing that tlrc 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 request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from :II obligations under this Mortgage and the Note. . If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordanc-c with paragraph 14 hereof. Such notice shall provide a period of not 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 arch sums prior to the expiation of such period, Lender may. without further notice or demand on Borrower, invoke any remedies permitted by paragraph Ig hereof. Nor+•UNtt=otttrr COVENAtVTS. Borrower and Lender further covenant and a6roe as fellows: 1L Aceekratlon; Rewcala. Etrce}t sz protfaed in pragrapi 17 iereof, npn •oeo+retts ireaer of gar covered K a~reentent of Borrower i• tiia Mortgage, iweia~wg tie eovewattts to par when 11tse snr trains seemed b tWs Merigage, Laier prior b aceeieratlen aim argil wotlce b llioreorrer if provided fw pragraplr 14 iereot sleeitrla~ (1) tie rreaci: (2) tie action regdrai b erne seer MeacrB (3) a date, not ies; than 30-days ftrorw tie gate the notke b ttaafled 6 >terrswer. b' wikr strelr rreacr n>~t k eared; ani (4) fist tal>rre b care wei Meier a ar retort tie date s~aiiad V tie wotice nisi malt iw weederatlott of tie rawly aocrtred br fib Mortgage. toreclowre b jndicbtl sad sale of tie )nropertr. 71re walks { aiai> twrtrer btora >iorra+wer d tic right b eairmhte after seeekratbrt sari tie right b avert r tie tertxlease Noesaitg tie nontxWewee d a detatit or gray otter detewrt of ¦orrower to acceleration swd terecbawre. It tie raaei b not etsr~ed M or retore ~ dale specified i. tie notke. lender at t.ewders aptiow Wray dtxbre r of the snwra seewrsi b tYs MartsaRe tare imaedbEelr age a¦d ~araMs wiliest twirler demand awd rrrar tereclose lib rsaasrwhie Ntur~aev~s tea. be eaWkd b eollltxt i• sues proeeediat r txpenses rat toredoswre, i~cladi~. - awi eoa4 a< docr'~ewfar!' evidence. aistrscb aai title repro. 19. •oerowa's Rigrf b Rsiatats. NotwithstandinE Lenders acceleration of the stuns secured by this Mortgage, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any tithe t ~?x3~.7 p~~~.242