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Home My WebLink About1465 i . f ~ ~ a t. • ~ ~ - i Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage iasuraaoe premiums in the manner provided under paragraph 2 hercM. Any amounts disbursed by Lender pursuant to this paragraph 7. with intertst~ t~ietriedti; become additional indebtedness of Borrower secuttd by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such j amounts shall be gyabk upon notice-from Lender to Borrower rcgtxsting payment thereof, and shall bear interest from the date of dtsburxtnent at the rate payable from tint to time on outstanding principal under the Note unless pajnttettt of interat at such rate would be contrary to applicable law, in which event such amount shag bear interest at the highest rate permissible under applicable law. Nothing contained in this gragraph 7 shall require Lender to ittetrr amy eapease or fate any action hereunder. g. Iaspeeaoa. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender steal! give Borrower notice prier to any such inspection specifying rtasonabk cause therefor related to Latdet'a interest in the Property. - 9. Cotadetaaatba, The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or.xher takisi$ of i~ Property, or pare thereof, or for conveyance in lieu Of condemnation, are hereby assigned and shall be paid to Lender. In.the event of a to1a1 taking of the Prcoerty. the proceeds Shall be applied to the sums secured by this Mortgage. ~ with the excess, if any, paid to 13c+rrower. In the event of a partial taking of the Property, unless Borrower and Leader i otherwix agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proetah as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date 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 8or:ower, or if. after notice by Lender to $orrower that the condemnor clefts to mate ~ an award or settle a claim for damages. Borrower fails to respond to l_tndtr within 30 days alter -the date such twtioe is - maikd, Lender n authorized to collect and apply the proceeds. at Lender's option. tither to restoration or repair of 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 o[ such installments. 10. Borrower Not Rekasud. F.actension of the time for payment or modification of amortization of the sums secured j by this Mortgage granted by Lender to any cerccesspr in interest of Borrower shall not operate to rckwe, in any manner, the liability of the original Borrower and Borrowers successors in interest. Lender shall not be required to commertoe proceedings against such successor or refuse to extend time for payment or otherwise modify amortiution of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's wccessors in interest. l1. ForbeararacY r7' Leader Not a Walter: Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the txtrcix of any such right or remedy. Tire procurement of insurance or the payment of taxes or other liens or charges by Lender shall not 6e a waiver o[ Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Rerwediei CwuWlr~ AI! 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. 13. Saecessws sad Asaigas Boaad; ,loirtt and Several i.iabiBfy; Capdoas. The covenants and agreeoxnts herein contained shaft bind, and the rights hereunder shall intrr+~ to, the.respective successors and assigru of Lender seed Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joir0 and several. The captions' and headings of the- paragraphs of this Mortgage arc for convenience only and are not to tk used to interpret of define the provisions hereof. 14. Noaee. Exctpt -for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certifkd mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to i~nder 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 addttss 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. 1S. UaBone INortRage; f,,overaiag Law: Sercrabaity. Tltis form of mortgage combines uniform covenants for natiaat use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security irtstrurnent covering Heal property. This Mortgage anal! be governed by the law of the jurisdiction in which the Property is located. In fire event that any provision or clause of this Mortgage or the Note rnnflicts with applicable law, such conflict shall not afied 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. li. )sotrower''s Copy. Borrower shall be furnished a conformed cop}• of the Note and of this Mortgage at the time of execution or after recordation hereof. 17..Traruter of ere troperty; Aswmptiou. if 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 encumbrance wbordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise, daoettt or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interat of three years or less not containing an option to purchase, Lender may, at Lender's option, declare alt the sums secured by this Mortg~e to be immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale w transfer. Lender and the person to whom the Property is tee be cold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interact 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 interat has executed a written assumption agreement accepted in writing by Lender. Lender shall rekax Borrower frcxn all oblijations under this Mortgage and the Note. - if Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shalt provide a period of not less than 30 days from the date the notice is mailed within which $orrower may pay the wms declared due. If Borrower tails to qy such arms prior to the expiration of such period. Lender may, without further notice or demand on Borrower, invoke any remedies permitted by gragraph 18 hereof. NoN•Ur~rttortut Coverretrrs. Borrower and Lender further covenant and agree as idlows: 1R Acederaaost; Rew~edles. Except a proritaed le paragnpr 17 Iteseot, ripoa •orrrawers bleach et say eavswat as agreeaseat of fietrower f. aria Merlgage, beladlag Ire eoreaaats to pay whew doe say atwaa seewned b air Mergptgs. Lewder pellet >o aeaeieraaort shi wall wotke to >sorrowcr s prorlaed fw paragraph 14 renege specityfags Are bre.er; (2) ere setMw tretNked M ewre wcr ireacr: (3) a dale, wet less Auw 30 days ewes tee Gate Ate .Dace its naNed a lerrower, b wrier swell , breaelit toil be ewred; aai (4) Wt falters to care stacr breast a or betotre ere date yacified V ere aoace gar result aecellestasa et Ire wata seewei by this Mortgage. fo.ulowre by JwakW preceedia~ awl sa4 of ere hoperty. Tee aNke srati twrtlter idorm'ortower of ere right b rdrrstale after aeeekralba and ere rlgN b assert fss ere tora~cissare perteeitg Ire aow•trsMeaee d a defaalt or swy deer iefswst o/ sorrswttr to accsleraaea asd femlowre. H the bteaer is wet cMSi ew ar retone ere dale speclaed i• ere notlaY. Leader at i.eader's optbw way daedre a• d aK aar¦a sacwrsd ?y Alb Martggpe f~ re itwaeiideiy iae awl payable .rilrowt fartrer dearand sad gar tareclwt: eels Moet~e rf' ju~lelal precwitgt. Linder dar be ewtWei N toBaet r wee praeeediag ati espeasa of fortdosare, laclwtliag, bet sat IW/si M, seaMraiit sttxwrr's fees. awl owls of ieestawewfttry eridewce, rtbsfraeb tats title rep+rb. 1!. •orr~swea'i R~lt b Reinstate. Notwithstanding Lenders acceleration of the sums secured by this Mortgage, Borrows shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time BQOK~~~ PAGE~,~63