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Home My WebLink About1459 .a.. ' r... ~ .j i «`f~ } t Lender's written a regiment or a licabk law. Borrower shall the amount of all mort B PP pay gage insurance premitttm iw the manner provided under paragraph 2 hereof. 3 ~ ~ i 1;,;i~*~ Any amounts disbursed by Tender pursuant to this paragraph 7. with ittttrest thereon, shall become additional i indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other tests of payment. such amounts shall be payable upon notice from 1_ender to Borrower requesting payment thereof, and shall bear interest feces the date of duburs~ement at the raft payable from time to tune on attstanding principal under the Note unless past of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rats ~ permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. >l Iwspectiow. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided . that Lender shall give Borrower noliee prior to any Brach inspection sptci(ying reasonable cause therefor related b I~atder's interest in the Property. 9. Cowdeuwatbw. The proceeds of any award or claim for damages. direct or rnnsequewtial, in connection with gay condemnation or other Taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby sssigned f and shall be paid to i.ender. ~ ; in the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage. ~ with the eYCest, ii any, paid to Borrower. In the event of a partial taking of the Property, crakes Bornrwer and Larder t 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 amatnt of the sums secured by this Mortgage immediately prior to the data o[ taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the ptnceeds i paid to Borrower: Tf the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the oondaortor oArrs b maloe an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice is j mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or ttepair 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 shag not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the annaunt a[ such installments, 10. Eorrewer Not Rdeaced:~ Extension of the time for payment or modiAcation of amortization of the sutras 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 Be?rrowt:i s successors in interest. Lender shall not be required to eommetae 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 •rny demand made by the original Borrower and Borrower's successors in interest. ~ 1l. Forbearawce by Lender Not w Waiver. Any forbearance by Lender in exercising any right or remedy heretwtder. or } otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy. t The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of L,ender's right to accekratc the maturity of the indebtedness secured by this Mortgage. j I2. Retwedies Cwtswbli~e. 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 sucoetsively. 13. 3wccessors awd AssiRas dowwd; ,Joiwt sad Several T.iabAiy; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the.respectivo successors and assigns of Lender sad Bon~ower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joird and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and ate not to Ile used to interpret or define the provisions hereof. I4. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice b Borrower pt+ovided for in this Mortgage shall be given by mailing such notice b}?• certiAed mail addressed to Borrower at the Property Address or at such other address as Bormwer may designate by notice to Tender a: provided herein. and i (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. S. wiforwt Mort e• Goverw Law; SeverabHit .This form of mori rnmbines uniform covenants for national Ii 1 U y 8~ t ~ R~ inlC i use and non-uniform covenants 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 3 event that any provision or clause of chic Mortgage or the Note conflicts with applicable law, such conAict_shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to this end the provisions of the Mortgage and the Note arc declared to be severable. ~ ; i lf. lorrower's Copy. Borrower shall be furnished a conformed roP)• of the Note and of this Mortgage at the tithe = I of execution or after recordation hereof. 17..Trsrtsfcr of the Property: Aastwptiow. Tf all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender s prior written consent. excluding (a) the creation of a lien or enwmbrance subordinate to this Mortgage. (b) the crcatton of a purchase 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 s option, declare all the sums xcuted by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer, Lender 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 inten.•ct payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. Tf Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower s successor in interest has executed a written aaumption agreement accepted in writing by Lender. Lender shall release Borrower from all oblisations under this Mortgage and the Note. i If Lender exercises such option to accelerate, Lender shall mail Borrower notice of accekntion in accordance vrith I paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the ratios is mailed within which Borrower may pay the sums declared due. 1f 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 l g hereof. Na+-Utrtt~at?t Covt=_Hat+TS- Borrower and Lender furihtr covenant snd agree ss follows: I=. Aceeieratiosq Rew~edles. Except r provWed i• ptsgra~r I7 rtxsof, ~w >torrwwers rsaci a< arty cnvewatM K agreetwent of >torrwwer r tris Motrtgage. htelwdis~g ere eorewaMs to /h' area dtse awY sear seewrratt r7' tris MorlgsRe. i.ewder ; *triotr w aceeieiwtloa srsi wM wotlce to Ibrrower as'ro•itled b pragraplt t1 rtweot speelfyiwgs (1) ere beach: (17 ere aetMw ~ rr~wirei b ewes tench Macb; (3) a dale, root less flow 3• dsYs trorw trt late ere wotke is ttsaited N 1Krpwer. b wrier sueU ~ rtRaer tnwsl re eared; awd (4) teat fwBnre M ctrrri race Mwcr a K refoa ere date yselfisd r ere police wup rattle iw aces;lerrafiow of ere twttr secured ti tris Mortgage. tereciowre r! Rai srtd ale of ere >rr~erty. Tee nslict sgtaM Grrtrer bdorsn lorrower of ere riRM b tefwstale sfter ttecekrwtiow awd ere right to atreA N let: fosselsswrt precesittg ere cow-e:Metsce of a defswtM or awy otter ddewse of iorrower to wcceicration antl toraeioswre. ~ ere rreaer Y tsN eased a• I er before! ere dale spciid ere aolk^e. lewder wt i.ewtier`s o/tiow vestry deeiase s0 M ere tttsstts s~ r7'tltds Mottpge b be iawsedialely dwe awl psYabk witrowt tartest dew+and awd wrsy tsn!elat: dtis Morlgap r7 jsikW'swcstdlaR. Lewder dti j be ssteWed to eo0set iw ewer pwasdiwg s/ expewsa at torecloswre. Iwelwtlisg. rat wet liwtiled ter reasewarle t+ttxse)r's fee. 1 awd eosb of dot:st-'weMary evidewce+ abstraeb awd tale repro. 1!. /ersowa's btlgrt RelwMata Notwithstanding Lender's acceleratan of the sums secured by the: Mortgsge. Borrower shall have the tight to have any proceedings begun by Lender to enforce this Mortgage discontinued st any time } ~~11 ~ aooK326 PaGEt457