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Home My WebLink About2612 a.. Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided un~r paragraph 2 hereof. Any. amounts disbiirs<d by !.ender pursuant to this paragraph 7, with interest thereon. shall become atiditiond indebtedness of Borrower secured by this Marigage. Unless Borrower ane~ !.ender agree to other tettns of payment, such amounts shall be payable upon notice tram lender to Borrower requesting payment thereat, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless paynteat of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permiuibk under applicable taw. Nrthing contained in this paragraph 7 shall require Lender to incur say expemse a tale any action hereunder. i. Isspectiar. Lender n:ay ui31.c 3i Ciiti3C~ tV 1-i~ Risiti!2 rtuCxialYle l`Piiri2S lipiNl and rnSpeCtii)ri3 of tl-re ~upcity, that !.ender shall give Borrower notice prior to any Stich inspection specifying rcasanabk cause therefor related to Larder's interest in the Property. 9. Couderwratbn. The proceeds of any award or claim for damages, direct or consequential, in convection with am condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned and shall be paid to Lender. In the event of a total taking of the Properly. the proceeds shall be applied to the sutras 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 Leader otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the same secured by this Mortgage immedutely prior to the due of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proeeods paid to Borrower. If the Property is abandoned by Bor:ewer. or it. after notice by Lender to Borrower that the condemnor oA'ers to mate an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice b mailed. Lender is authorized to collect and apply the proceeds. at Tender's option, either to restoration ar repair of tfse Property or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing. any loch application of proceeds to principal steal! not extatd or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hcr.~f or change the amount d such installments. 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this 1?lortgagt granted by Lender to any cuccecear in interest of Harrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successor in interest. Lender shall oat be requited to eommerroe ~ proceedings agairr:t such successor or refuse to extend time for payment or otherwise modify amortiution of the sums secured by this Mortgage by reason ofrny demand made by the original Harrower and Borrower's successors in interest. 11. Forbearance by leader Not: Waiver. Any fnrhearancc by Lender in exercising any right or remedy hereunder, or othewise afforded by applicable law. shall oat be a waiver of or proclttde the exercise of any such right or remedy. _ The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of LendePs - right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Rewediea Ctwrohdre. 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 successively. ' 13. 9reeessors awd Asefgas Eosad: ,Joint sad Several I.isbrBty; Cspfjos~s. The covenants and agreements herein contained shall bind, and the rights hereunder shall incrZ io. fife respective sii~t:tsscrrs slid ar`signs ut` Lti~u'er +itt! Bw-TS..xr. subject to the provision: of paragraph 17 hereof. All covenants and agreements of Borrower shall be join) and several. = The captions' and headings of the paragraphs of this Mortgage arc for convenience only and are not to bt used to interpret or deAne the provisions hereof. 14. No#ke. Except for any notice required under applicable :aw to be given in soother manger. (a) any notice to - Borrotver provided for in this Martga¢e shall be given by mailing such notice by certified mail adu.tased to Borrower u the Property Address or at such other address as Borrower mat designate by notice to Tender ss provided herein, and (b) any notice to Lender shalt he given by certified mail. return receipt requested. to Lender's addrns stated herein or to = such other sddtess 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 ar Lender when given in the mannr:t designated herein. 13. Urti[onrs Mortgage: Goreraialt Lew: StrerabBity. This form of mortgage combing uniform oarenants for national the and non-uniform covenants with limited variations by jurisdiction to corutitute a uniform stcurity 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 ar the Nate conflicts with applicable law, such conflict shall not stied - G other provisions of this Mortgage or the Nate which can he given effect without the oovAicting provision. and to th-ts end the provisiwrs of the Mortgage and ttic Note arc declared to be severable 16. 1onrwes's Copy. Borrower shall be furnished a conformed cop}' of the Note and of this Mortgage at the tins ; of execution or after recordation hereof. 17..T*ttnster of rte Troperiy; Aswmptiov. If all or any part of the Property or an interest therein is acid or transferred by Borrower without Lender's prier writrcn consent. excluding (ai the creation of a li=ra or encumbrance subordinate to this Mortgage. (b) the creation of a purchase mc.ncy security interest far houstlaW appliancss, (c) a trarafer 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 tiecttred by this Mortgage to bt immediately due and payable. Lender shall have waived Stich option to accelerate if, prior to the sale or transfer. [.ender and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the intercct 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. Borrower's successor in i interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from elf t obligations under this Mortgage :nd the Nate. Tf [.ender 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 arch stems prior to the expiration of such period. - - Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ~ - Motu-Uturt%osrir CoveNaxTS. Borrower and Lender further covenant and agree as follows: ~ lg. Acederatiora; Rtwedks. Bscept as provided is parsgrspt 17 ier+ea<, upon •on+swds breacY of airy corerarrt w _ agreeae~t d iorrower la ttls Mortgage, brcloding etc covenants to pr wtca doe awy same sterrsi ti tYs Mortgage. lewder prior b acYeleratlow else ttaaM settee to 1<orrowtr as provides In paragrapt 14 tertot spcell~fwg: (1) rte bread; (21 rte aefiew regaled tb ettse steel braclH (3) a sot leer tisn 30 days trees rte date rte wotkt r ~ to Mnower. by wild sock r. iresct ascot k owed; treed teat ts~re eo core aret brssrb oa oz before rte date geeiiiei i• rte wotke say ~ aeeekratiow d rte was second by dds Mortgage. forcclosrtre b ~rdicW procsedittg awd axle of rte property. 'lire woRice slur trrtier Mora >sorrower at rte rfgtt to retsxtstt after aceekrdioa sad tbR right to assert i• rte fa+ecbsree proeeedlag tic aoa~sxWewet of s iefsok or awy otter deftisse of renewer to accekrdbw sad toreclowre. Id Hre bresci is sot erred a ar before ere dale specified b tie woMce. Lender st Lender's optba rear declare sA of tie strews seewed by ttis Mortgage fib be iassedistely doe ant pyabk witted fruiter demand nwd may toreclost tWr Motgsge by }dkW proceediwg. Linder due be ~ to corset lr srei proceeding ter expenses of forecbsore. bxhrdiag. bet fret r.ited r. rararable snurneYs tea. and torts of ioe.'werMar7 evidewte, abstracts awd tick reprts. ' lf. lorrrwa's RtgW to Reinstate. Notwithstanding Lenders acceleration of the sums secured by thr_ Mortgage, Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time . ~ •;"~~~c3~J P~GE~~