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Home My WebLink About2748 • - - Lender's written agreement or applicable -law. Borrower shall pay the amount of all mortsigt ir~ce;p,~0i ~ the manner pn~vidcd under paragraph 2 hereof. Any amounts disbursed -by lender pursuant to this paragraph 7. with interest thereon. shall become additional in.lebrcdncss Y~f Borrower secured by this Mortgage. Unless Borrower and Lcnckr agree- to other terms of payment,- such amounts shall be payable uprm notice from (.cndcr to &un~w•er requesting payment thereof, and shall bear interest from the date of dichursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be c~mtrnry to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. ' 8. 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 to Lender's interest in the Property. 9. Cosdemnatbn. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, arc hereby assigned and shall he paid to Lenckr. Tn the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage. with-the excess. if any, paid to Borrowe44 jj ppY of a partial taking of the Property, unlesc Borrower and Lender otherwise agree in writing. there shall berA~iw sums secured by Chic Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums sect?red by this Mortgage immediately -prior to the date of taking bears to the fair market value of the Property irttmediatcly 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 Harrower that the rnndemnor offers to make an award or sdtle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed, Lender is authorized to collect and apply the proceeds. at i_ender s option, either to restoration or repair of the Property or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing. any ~c u~r"jdf`j~t~•ttr~jtl•incipa) shall not extend or postpone the due date of the monthly installments referred to rn pa p~tSsM ~~~14~of~bt change the amotmt of such installments. b 1tf+f:11/C'f~ 1B. Borrower 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 Borower shall not operate to release, in any manner. the liability of the original Borrower and Borrower s siK-cessors in interest. i.ender shall not be- required to commence proceedings against such successor or ref.rse to extend time for payment or otherwise modify amortization of the sums secured by This Mortgage by reason of any demand made b~ the original Borrower and Borrower's successors in interest. 11. Rorbearaace by Lender Not a Waiver. An}• forbearance b}• 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 remedy. Thc procurement of insurance or the payment of faces or other liens or charges by i_ender shall not be a waiver of Lender s right to accelerate the maturity of the indebtedness secured M this Mortgage. 12. Remedies Camulatire. All remedies provided in this Mortgage are distinct and cumulative to an}• other right or remedy under this Mortgage or afforded-hy law or equity. and may be exercised concurrently. independently or successively. 13. Snecessors and Assigns Bound: Joint and Se~•eral I.iabitity; Captions. The covenants and agreements herein contained shat! hind, and the rights hereunder shall inure to. the respective sikcecsors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 her~rof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and are n_ot 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 provided for in this Mortga¢e shall be given by mailing ctx:h notice by certified mail addressed-to Borrower at the Property Address or at such other address as Borrower mad- designate by notice to fender as provided herein, and (h) am• notice to Lender shall he eiven by certified mail. return receipt requested. to I.e'nder s address stated herein or to such other address as fender 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. 15. Uniform Mortgage: Governing Lave: Ses•erabilit}•. This form of mortgage combines uniform covenants for national use and non-uniform rnvenants 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 cla~ise of this Mortea¢e or the \ote conflicts with applicable law. such conflict shall not affect other prm•isions of this Mortgage or the Note which can be given eliecf without the conflicting provision, and to this end the provisions of the Mortgage and the Note arc declared to he severable. l6. Borrower's Copv. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Properly: Assumption. If all or an}• part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to this Mortgage. Ih) the creation of a purchase mone~• security° interest for household appliances, (c) a transfer 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. I-ender may. a1 (-cndcr s rption. declare all the sums secured by this Mortgage to be immediatel}• due and payable. Lender shall ha.•e wais•ed such option to accelerate if. prior to the sale or transfer, Lender and the person fo 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 Lender shall request. if i_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in i interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all - obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. Lender shall mail -Borrower notice of acceleration in accordance 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 such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18.hereof. Note-UNtt=otet~t CovErv~rrrs. Borrower and Lender further covenant and agree as follows: 18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of Borrower in this Mortgage, inclndittg the covenants to pay when dne any sntos secured by this Mortgage, Lender prior to acceleration sbaq mail notice to Borrower as provided in paragraph l4 hereof specifying: (l) the 6tratch; (2) the adios regoired to crm soc6 breach; (3) a date, not less than 30 days from the date the notice is mailed to Eorrower, by wbic6 snob breach must be cored; and (4) that failnrc to care such breach on or before the date sped6ed in the notice may restdt in - accekration of the soma secured by this Mortgage, forecbsure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert is the foreclosure procetdbtg the son-existence of a default or any other defense of Borrower to acceleration and foreclosnre. if the breach is sot cored os or before the date specified is the notice, Leader at Lemler's option may declare aH of the soma secured by this Motrtgage to 6e immediately dne and payable without farther demand and may forr~loae this Mortgage by judicial proctedia<. Lender shall be entitled to collect In sneb proceeding all axpesses of foreclosure. including, bnt not limited to,-rasona6le attorney's ices, and costs of documentary evidence, abstracts and title reports. 19. Borrowet~s Right to Reinstate. Notwithstanding Lenders acceleration of the sums secured by this Mortgage. -Borrower shall have the right to have any proccedings begun by Lender to enforce this Mortgage discontinued at any time . _ 8~~~~ PACfz~~~