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Home My WebLink About2691 r F . .~E, Lender'; wrrttcn agreement ur apphrahk L+w B++rrower ;hall pay the am.+unt ++f all mortbage insurlncc premiums in the nt,utrer p~ +vide.l under parakraph ~ hereof. :gym :unluun; +hshurseJ hr I ender pur,uant n+ this par.l~raph with tntrrest there.+n. shall hrc++me additional , indrhledness ++f liurruwrr secured by this ~lUtl~dle l'nk,s Blar++++er .unl I en+Ier aLrer to other term; of payment. such anunlnh sh;dl be payable upon notice f.om 1 ender t++ &+rro++rr te+lucstin~ {+ayment Urereof. and .hall hear interest front the Jatc of dishursement at the rite payable fr.+m time to time :at <?nhtandinc principal under the ?~otc unless payment of inhrc;t at such rate scuulJ t+e c/urtrary a+ applicahle la++. in which event wch amounts ;hall hear interest at the highest rate permissihle under al+plirlhlc law. Thl.thing a+ntained in this paragraph 7 shall require 1 ruder to incur any expense or take any action hereunder. 8. Ingrection. Lender may make rr cau;e.to be made rea,onahlc entries up.+n and in;pectum; of the Pn•perty. provided that I ender ;hall give Burrower notice prior to am• such inspection specifying reasonable cause therefor related to Lender's interr;t in the Prolxxrh•. 9. Condemnation. The pn.reeds of am• award or claim fur damages, direct ur consequential. in connection with am• condemnation or other taking of the Prol><rty, or part thereof. or for ci+nvcyance in lira of rnndcmnatiun, arc hereM• assigned :rn;l ;hall he paid to f.cnder. In the event of •r total taking of the Property. the pracceds shall t?e applied to the sums secured M• this Mortgage. with the excess, if any. paid to $yfyut~r~! the event of a partial taking .?f the Property. unless Borrower and i.ender otherwise agn*e in writing. there s all'he`applied to the sums secured M' this Mortgage sash propr+rtion of the proceeds as is equal to that pn+l>'+~rtion which the amount of the some secured by this \Mrtgage immediakly prior to the date of taking tzars to the fair market value of the Property immediateh• prior to the date of taking. with the hahmce of the proceeds paid t.. Borrower. If the Property is ahandoned M• Borrower, or if. after notice by Lender to Borrower that the rnndemnnr oRers to make an award or settle a claim for dantaLes. Born+wer fail; to respl+n.l to Lender within i(1 day; after the date wch notice is mailed. I_endcr is authorized to collect and apply the proceeds. at Lender c option. either to restoration or repair of the Propeny or to the sums seruretl M• this Mortgage. l:nless Lender and Borrow•r othenyise agree in writing. any such :Ippliration of proceeds to principal shall not extend or p.+stp+are the due date of the monthly installments referrrd u+ in paragrtpfis I :rod hereof or change the amount of ;uch inaallments. 10. Borrower Not Relea;cd. t?rtencion of the time for payment or mlvlification of amortization of the sum; secured by this Mortgage granted hv_ 1 ender M any successor in interest of Borrower shall not operate to release. i+~ art, manner. the liahilit~~ of the oricina) Burrower and Borrower's successors in inrerest. lender shall not he required to commence hn+reedings against wch wccessr+r or refuse to extend time fur payment or otherwise modih• amortization of the sums ,geared by this Mortgage by reasc+n of am' demand made h+ the original Borrower and Borrower's successor; ir? interest. 11. Forbearance by i.ender ~M a Waiver. Any fort+car;u~ce by 1 ender in e~ercisinR am• right or remedy herelnder, or otherwise atfurded by applicahlc I;oy. shall not }+e .r waiver c+f or preclude the exercise of am• ,uch right or remedy. Tne procurement of insurance or the p;n•ment of lases or other lirm ur charges by Lcndcr .hall nut t+e a w:fiver of Lender's right m acrclerate the maturity of the indehtedness se::ured by this Mortgage. 12. Remedies Cumulative. .All remedies pr?+yidrd in thi, \lortgagc arc di,tinct and cumulative to any other right or reme+h• under this Mortgage or atTordrd by law or equity. and may tx cyercisrd concurrently. independently or sucressivch• 13. Successors and :lssikns Bunnd: Joint and Several Liability; ('aptions. The covenants and agreenxnts herein rontau?ed shall hin+l. and the right; hereunder shall inure to. the respective succesors and assigns of Lcndcr and Burrower. ,uhject !o the prr+cisions .+f paragraph 17 hereof.- All covenants and agreements of Burrower shall txr joint :Ind ,everal. Thc caption, :Ir.d headings of the parsgrapfis of this Mortgage are for convenience onh~ and arc not to t+e used to imrrpret or define the provisions hereof. 14. \otice. E~rept for any nrniee required under applir:lhle Ln+ to he Li.•en in another manner. /al any notice to Burn~aer provided for in this 1lortzage shall he given by m;lilin~ ,u:h notice by certified mail addressed to Borrower at the Property :~ddre,s or at wch othr~ address as &+rrowrr mar desicn:ur M notice to 1 ender as pn.yided herein, and h: ar.+ Holier to 1 ender ,hall t><• _iver h; certified mail. return recris+t recsurstcd. to 1 ender'. adJress stated herein or to -.uch other addres, a, 1 ender may designate M notice to Borr•+~+rr a, pr,+.ide+l herein. .My notice provided for in this \turtl;age shall t+e deemed to have tx:en gisen to Borrower of I rn.trr ..hen Li+rn in the manner designated herein. I5. ['niform ~lort>;:+t;c: Covrrnint; l.aw: Se+erahilily. Thi, loan of mortca~c comhines uniform covenants for national use and non uniform covenants .+ith limite.l :ariaru+n, by junsdletion to :.+nstitnte a uniform security instrument covering real property. This !41urt,,egc shall tx ~ocenred by the Llvv of the juris+licUon •n which the Property is located. In the i event that am' pr:+vi~ion or clause of thi, ~lortea~sr or the \.+!r ronRicts ++ith applicable law•• such conflict ,,hall not afTect E ether provisions of This ~torf~a~_r or the \ote which c:ut hr _ICrn rtfr.t +;ithont the conflicting provision. and to this cr.d the pmvtsiotts of the 11nrt~aer and the ~++tu :ur Jrc!ared to hr severable. i 16. Born>'wer'e ('opy. Born+wrr ,hat! t+r fun»shed .I c+•nf++rmrd ropy of the \ote amt of this ~ti~rts~age at the time .,t execution or after recordation hereof. 17. Transfer of the Properfc:.lssumption. li :III or :ulv Hart of the Property or an tntcresr ;herein i, ;old or transferred l i+v Borrower without Lender's prior writtr? consent. cyclucanc t,+t the creation of a lien or encumbrance suhor.hnate to ~ this Morts;aze. Ihl the ere;lion of a purchase monr+ ,r_urirv interest for household appliance;. Icl a tramfer by devise. .lescent or M operation of Lnv upon the death of .I ion: ten;u?t or t+U the grant rf any leasehold interest of three years or less ne+t containing an option to pnrrhau. 1 ender may..It [ endrr'~ ohtton. declare all the sums secured by this Mortgage to bC :mmeaiatel} due and payable. I ender ,hall hays ~+aived ,neh option to accrleruc if. prior to the sale or transfer. Lender :Ind the person to wfiom the Property is to F+e so!J or tramferrrd re:?ch a~rrrment in writing that the credit of such person is s:llislact++n~ to Lender and that the intrre,t hay: h!r on the sums secured by this Mortgage shall be at such rate at Lender shall request. If I ender has waived the option tr accelerate pn.yided in this paragraph 17. and if Borrower's successor in interest ha; executed a written assumption agreement accepted in writing by Lcndcr. Lender shall release Borrower from all obligations ?nrvlcr this Mortgage and the Notc_ a If Lcndcr exerrisrs such option to accelerate. I ender shall mail Borrower noUre of acceleration in acrnrdance with haragraph 14 hereof. Such notice shall provide a period of not Icss than ail Jays from the date the notice is mailed within Hhich Borrower may pay the wms declared due. II Borru++rr !ail; to pay such sums prior to the expiration of such period. Lender may. without further notice or demand on Borrower. mvol.e. any remedies permitted M• paragraph IR hereof. None-l:~tt~ote~t ('nyF\A~;TS. Borrower and 1 ender further cm•cnant and agree as follows: 18. Acceleration; Remedies. Except as provided in parakraph 17 hereof. upon Borrower's breach of any covenant or agreement of Borrower in this Aiorlgage. including the covenants to pa}• when due any sums secured by this Mortgage, Ixnder i prior to acceleration shall mail notice to Borrower as provided in parakraph 14 hereof specifying: (1) the breach; 12) the action f required to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower. by which such g breach must be cored: and 141 that failure to cure such breach on or before the date specified in the notice may-result in ( acceleration of the sums secured by This Mortgage, foreclosure 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 in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach is not cured on or before the date specified in the notice. Lender at Lender's option ma}• declare all of the sums scented by this Mortgage to be immediately due and payable without further demand and ma}• foreclose this Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding all expenses of foreclosure, including, but not limited to, reasonable attorney's fees, and costs of documentary evidence, abstracts and Title reports. 19. Borrower's Right to Reinstate. Notwithstanding [.ender'; acceleration of the sums secured by this Mortgage. ~ Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time r s?~ 3~.8 ~~E2685