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Home My WebLink About2609 • ~ t,. t t~. 1~ - Lender's written agreement or applicabb law. Borrower shall pay the amount o[ all mortgage insuratroe premiums rn the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragrap4 7, irijh jptlrest thereon, shall become additional indebtedness of Borrower secured by this Mortgage. Unkss Borrower and •Lerider agree to other terms of payment. such amounts shall be payabk upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payahk from time to time on otrt:tending principal under the Note unless pa~rmart of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible )ruder applicable law. Noshing contained in this paragraph 7 shall require Lender to incur any experat or take any action hereunder. lwsreetiow. 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 Larder's interest in the Property. 9. Cowdemwsfba The proceeds of any award or claim for damages. direct or consequential, in connection writh any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. arc hereby assigned and shall be paid to Lender. In 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 Borrower. In the event of a partial taking of the Property, unless Borrower and Lender ` 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 sums xcured by this Mortga~te immediately prior to the daft 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 i.ender to Borrower that the condemnor offers to make an avrard or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such twtioe is mailed, Lender is authorized to collect and apply the proceeds. at lender's option, either to restoration or repair o[ the Property. or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. - 18. 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 Borrower shall not operate to release. in any manner, the liability of the original Borrower and Borrower s successors in interest. Lender shall not be required 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 anlr demand made by the original Borrower and Borrower's successors in interest. 11. Rorbearwwce by Lewder Not a Waiver. Any for!~earance by Ixnder in exercising any right or remedy hereunder, or otherwise atfordtd by applicable law. shall not be ,a waiver of or preclude 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 Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Rewxdies Cwmwh>fite. All remedies provided in this Mortgage are 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. • li_ C.rr.w.r~e ....1 Aeai... ~e.......rs .lni..r .w.1 C.....1 i_ial.ilftlr• ("snrlnw~ The rnvenants and agreerrretrts hettin _ y __r______- contained shall bind, and the rights hereunder shall inrrr~ to. the respective successors and assigns of Lender apd Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several. The captions-and headings of the paragraphs of this Mortgage arc for convenience only and arc not to Ile used to interpret or define the provisions hereof. 14. Nettiee. 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 such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to fender as provided herein, and (b) any notice to Lender shall he 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. j 1S. Uwitonw Mortgaxe: Goverwing Law: Severability. This form of mortgage combines uniform covenants for national I use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering i real property. 71ris 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 applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to the , end the provisions of the Mortgage and the Note arc declared to be severable. IL. borrower's Cory. Borrower shall be furnished a conformed cop~• of the Note and of this Mortgage at the time of execution or after recordation hereof. 1~..Trwwsfer of the lroperty: Assemptiesr. If all or any part of the Property or an intercsl ihercin is sold or transferred by Borrower without Lender's prior written conxnt. excluding (al the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchaa money 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, Lender may, at Lender i option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accekrate if, prior to the sale or transfer. Lender and the person to whom the Property is to be co1J or transferred reach agreement in writing that the credit of such person is satafactory to Lsnder and that the interest payable on the sums secured by this Mortgage shall be at such rate ac Lender ~ shall request. if Lender has waived the option to accekrate provided in this paragraph 17, and if Borrower s successor in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all oblijations under this Mortgage and the Note. if Lender exercises such option to accekrate. 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 i 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 lfl hereof. Note-UNIFORM CoveNaHTS. Borrower and Lender further covenant and agree as [olk>.rs: Ifi. Aceelerwtlowt Rewselia. Eucpt err provided iw rsrrbrarr 17 terser, prow bonrt?wds rrswcr of awy eovewawt er agreemewt of borrower d tris Mortgage. rrciwdirrg ere eovewaMs to M1' whew lwe aver wma stewrel r7' tlrls Mortgage. Leveler prbr a acceleratlow wall wuY works to borrower as rrovided fw raragrspr 14 terror sreclfrlw~ (1) ere bsewcr: (2) ere aKtbw rgwirsl Is setts ewer rt!eacr; (3) s date, wet lea Irsw 30 days from ere late ere works fo waxed to borrower. r!' wrkr s~cr ilseaci rivet re ewre~ awl (4) trM f'wflwre to setts rarer brtncr ow or retort: ere date geelfied b ere works war rawlt b ~ iceekrMioi of ere awn trecwrel r!' trfs Mtrrtgsbe. toredoswre b jwdkiai *roceelML veld sale of ere fhorcrtr. Tre watlce sraM f5rrtlter rtatonw Borrower of ere rigrl to relwsbfe wfler >iccelcrwNow swl ere trigrl fo srwert i• fro torstloawre rroetediwg Ire iow•enWt:wee of w letawlt or aver otter tktewse of borrower to wecekrwtiew trail toreeloswre. N ere rreaer i. wet cwr+ei a a before ere lab arecified 1• ere wotiee. Levier at l.ewtler's ortiow wren tkclwre A of ere awn secroel r7' Iris MerlpRe w re iameliwtelr die awl prsrie witrowt trMrer demand awd war forec bwt wN >twdlei Lender s~ be eMMiel a cohost b rarer pbeeediwL ar a:pewees of forecbswre. etas t:otlt of doet.'~~ewtary eridewce. srstracts wwl tick toroth. 1,. barowa's Rfirt to Relrtate. Notwithstanding Lenders acoekration of the sums secured by thn Mortgage. r Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time 801a(~~ PAGE