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Home My WebLink About2999 ~ ~ ~ ) l.•nder's written agreru?cnt ur apphrahle law. B++rrc+wrr shall pay the amount •ot all mor~tgagc(insur.u?;e premiums in the n?annrr provided under paragraph 2 hcrcof. Any amounts dishursed by 1 cn+lrr pursu:uri to this paragraph 7. wnh ?mrrest thereon. shall hca+me additional indrMrdnres of Borrc,+scr secured h+ this Vortgage l'nlcss Bormwcr ;urd 1 coder agree to rnhrr terms of payment. such amounts shall F,c pa>ahle upon notice frr+m (.•nder to Burn+wrr rryuc.ting pa)n?rnt thereof. and shall hear inh•rest fmm the Date of dishurccmcnt at the rate payahlc from time to time on outst:mding principal under the Note unless payment of interest at such rate would he contrary h, apphcahle I:uy. in which event such amounts ~1Jat~ ¢eat ipterest at the highest rate permissible under applicahle law. Nothing contained in Chic paragraph 7 shall reyuir~! t.e1t tt kc~{ incur any expense or take any action hereunder. 8. Inspection. Lcndcr may m;?ke or cause to be made rcasonahlc entries upon and inspections of the Property. provided that 1 ender shall give Borrc,wcr notice prior to any such inspection speci(ying•reasonable cause therefor related to Lender's interest in the Property. • 9, Condemnation. Thc 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 a,nveyance in lieu of condemnation.:?rc hereM• assigned :end ,hall t,c paid to Lender. in the event of a total taking of the Property. the proceeds shall Ix: applied to the sums secured by this Mortgage. with the excess, if any. paid to Borrower. )n the event of a partial taking of,the Property. nnltcc Borrower and Lcndcr otherwise agree in writing. them shall I,e applied to the sums secured M• this Mcirtgage such proportion of the proceeds as is equal to that proportion which the amount of the sums sc;ured bs' this Mortgage immediatel~• prior to the date of taking l,cars to the fair market valor of the Property immediately prior to the date of taking, with the halancc of the proceeds paid to Bormwcr. if the Property is ahandoned M• Borrower. or if. after notice by Lcndcr to Borrower that the condemnor offers to make an award or settle a claim for damages. Bormwcr fails Ic, respc,nd to I ender within i0 das•s after the date such notice is mailed. I_cndrr is atrthorizcd to collect and apply the proceeds. at lender ~ option. either to restoration or repair of the Prohcrtc or Io the sums x;aced by this 1lfortgage. Unless I-ender and Borrower othcrs+•ise agree in writine. any su;h appli;ation of proceeds to principal shall not extend or pc?stpone the due date of the monthly installments referred to in paragraphs 1 and ?hcrcof or change the amount of such installments. 10. Borrower Nol Released. Extension of the time for payment or modification of amortization of the wmc secured by this Mortgage granted by Lender to am_• successor in intrrest of Borrc,w•er shall not operate M release. in any manner. the liahility of the original Borrower and Borrower's successors in interest. lender shall not he required to rnmmenee proceedings against Inch successor or reface to extend time for payment or others+ise modify amortization of the sums secured hs• this Mortgage h~ reason of am• demand made he the oricinal Borrower and Borrowers successors in interest. 11, Forbearance by Ixnder ?~o! a f,~'aiver. Am~ forlxaran;e h.• I ender in exercising am• right or remedy hereunder. or othcrw•ise afforded by applicahle law. ch:?li not he a w;river of or preclude the exercise of anv such right or remed}'. The procurement of insurance or the I,ayment of lases or ~+ther liens or charges by I.endcr shall not I,e a ++:?iver of I ender s right to accelerate the matvrrih• of the indehtedr?esc ce~.ured by this Mortgage. 12. Remedies ('umulative. All remedies prosidcd in this Mortgage arc distinct :rod cumulative to ;u,y other right or remed~• under this Mortgage or affnrdcd h.• law ar cyuitc. and mat F,e rxercixd concurrentlc. independently- or surcessiyeh•. 13. Successors and :~ssq;ns Boond: Joint and Several Liahilih: ('options. Thc covenants and agreements herein contained chat) hind. end the rights hereunder shall ~nurc to. the respe;tivc successors and assigns of Lcndcr and Borrower. subject to the pru~icions of paragraph 17 hcrcof. All coy~oanh and agrecmcnts of Borrower shall 1,e joint and several. The caption, and headings of the paragraphs of this tlfortgagc arc for com•cmence onl~• :rod arc not to t,c used to interpret or dctinc the provisions hereof. 14. \olice. Exrer+t fry am' notice reyuirrd under appli;ahlr iaw to he given in another manner, fat any notice to Burn,wcr pros•idcd fur in this Mortgage shall I,c gis•rn by m;rilinL such notice hj certified mail addresud to Bonow•er at the Propem• :address or .?t such other address ac Burrower ma+• drsicnate by notice to 1 ender as pnn•ided herein. and Ih) am notice to I ender shall t?r given by certified mail. return ~rcript +cyucsted. to 1 rndcr s address stated herein or to such other address as I coder may designate by notice to Borru+yer as pr.++•idcd herein. Am• notice provided for in this Mortgage shall fx deemed to ha+•c been given to Borrower or Lender when gi+•en in the manner designated herein. li 15. (.'nifonn 1lortgaRe; Gos.ernini; Law: Seserabilit~. Thy h+rm u) mortea2c comhines uniform covenants for national use and nun-uniform •:rnenantc with limited variation. hs jurisd~;tion tr runstitutc a uniforn, sc;nrih• instrument covering real property. "R?i: ~-tgage shall I+e governed hs• the law of the iurisdictiun in which the Pmpertg is located. In the I event that any pruvis~on c+r clause of this Mortgace or she \ure a+ntli;ts with applicahlr law. such conflict shall not affect j other pru+isiunc of this !lfortKagc or the \utr which ;an he ,*ivtn etTe.t ++i!hrut the run(lirting provision. and to this f, end the pro+rsiun. of the <1/~rIQJLI` and the \ute are .irclarrd to tx: uyerahle. `f 16. Borrower's Copy. Borru++er shall he furnished a ~unfurmrd ~upc ul the \c•tc and of this Ztort~~aGC at the time ut execution or after recordation hcrcof. 17. Transfer of the Pmperi~::lsurmption. If all ur an+ r:?rt of the Property ur an interest therein is s,+Id or tranderred { h~ Bormwcr with+nrt Lender's prier written consent. rs;ledine tat the creation of a lien or encumbrance sulx,rdinate to th?s Mortgage. rh1 the creation of a purchase money securit+ intrrcst for household appliances. Ic? a transfer by devise. descent or b~• oper,?tirnr of I;?w upon the death of a joint tenant or fd? the grant of and leasehold interest of three ycarc or less not containing an c+ption to purchase. Lcnc(er mac. at I rndcr'. option. declare all the sums secured by this Mortgage to be imme.liatch' due and payahlc. 1_ender shall hose ++aisrd ,u;h option to accelerate if. prii?r to the sale or transfer. 1_ender and the person m whom the Propert~• is tc+ F,e sol.l ur tramferred reach :?greemrnt in writing that the credit of such person ~ is satisfach+n to Lender and that the interest payahlc on the sums sr;ured M• this Jiortgage shall be at such rate as Lender € shall request. If 1 ender has waived the option to accelerctc pmeided in this paragraph 17. and if Borrower's successor in e interest has executed a w•riuen assumption agreement accepted in writing ht• Lcndcr. Lender shall release Borrower from all obligations under this Mortgage and the Note. If I ender exercises such option to acccleratr. Lcndcr shall malt Borrower notice of acceleration in accordance with ~ paragraph 14 hcrcof. Sn;h notice shall provide a pcriocl rf not less than ?n da~•c from the date the notice is mailed within which Borrower may p:n• the sums declared dnc. 11 Born,:+cr tails to pa~• such .rams prior tc, the expiration of such period. t Lcndcr may, without further notice or Armand on Bormwcr, invoke am remedies perm:ttecl h}• paragraph lei hereof. Nox-U~rtFOtent COYE~:ANTS. Borrower and Lender further rnyenant and agree as follows: 18. Acceleration; Remedies. lEccept as provided in paragraph 17 hereof. upon Borrower's breach of any cotenant or agreement of Borrower in this':11ortRaBe. including the covenants to pay when due anv sums secured by this Mortgage, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action 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 breach must be cured: and (4) that failure to cure such breach on or before the date specified in the notice may resdt in acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. 71re notice E 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. bender at Lender's option ma}• declare a0 of the sums secured by this Mortgage to be immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall be entitled to co11eM 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 lender's acceleration of the sums secured by this Mortgage. Borrowet shall have the right to have an}• proceedings F,egun by I.cnder to enforce this Mortgage discontinued at any time BGO I PAGf ~:~~J