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Home My WebLink About1376 ~ - ~ , Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance ptemiutru in the manner provide) under paragraph 2 herooL Any amaitnts disbursed by Lender pursuant to this paragraph 7, with interrst thereon, shall become additional indebtedness of Borrower xcurcd by this Mortgage. Unless Borrower and Ixnder agree to other ternu of payment, such amatnts shall be payable ulx~n natter from Lender la Borrower requesting payment (hereof, and shall btar interest from the date of disbursement at the rate payahk from time to time on outstanding principal under the Note antes: pa'ymatt of interest at such rate would he contrary to applicable law, in which event such amounts shall bear interest at file highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any experae or take any action hereunder. 8. laspectiow. lender may make ar cause to be made reasonable entries upon and inspections of the Property. provided - that Lender shall give Borrower ncuice prior to any such inspection specifying reasonable caux therefor related to Lender's interest in the Property. 9. Coadrmwtiow. The proceeds of any award or claim for damages, direc~ Ot consequ~eential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in.fieu o1 eotidemnation, arc hereby assigned and shall be paid to 1-ender. In the event of a fatal taking of the Progeny, the proceeds shall be applied to the sums secured by this Mortgage. with the else::, if any. paid to Borrower. In the event of a partial taking of the Progeny, unless Borrower and header otherwise agree in writing, there shall bt 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 secured by this. Mortgage immediately prior to the date D< taking bears to the fair market value of the Property immediately pricer to the date of taking, with the balance of the proceeds ` paid to Borrower. if the Progeny is abandoned by Barsower, or if. after notice by i.ender to Borrower that the condemnor offers to make an award ar xttle a claim far damages. Barmwer fails to res+ and to Lender within 30 days after -the date such twtiot is mailed, lender is authorized to called and apply the proceeds, at I~nder's option, either to restoration or repair of the Property ar to the sums secured by this Mortgage. , Unless [.ender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend < of postpone the due dale of the monthly. installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. 10. Eorrower Not Released. Extension of the time for payment or modification of amaniution of the sums secured by this Mongage granted by Lender to any cuccecsar in interest of Borrower shall not operate to ukase, 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 reface to ettend time far payment or othetwix modify atnoniution of the sums secured by this Mongage by reason ofrny demand made by the original Borrower and Borrowers successors in interest. t i. Forbearance by I.endtr Not a Wairer. Any farhearance by (.ender in exercising any right or remedy hereunder, or otherwise afforded by applicable law. shall rat he a waiver of or preclude the exercise of any such right or tentedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of LendePs right to accelerate the maturity of the indebtedness secured by this Mongage. 12. Remedies Cnmtrlatbe. All remedies provided in this Mortgage arc 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. Succesaors and AsaiRws IIouad; .Joint and $ereral I.iabBily; Captions. The covenants and agrteaxnts herein contained shall bind, and the rights hereunder shall intrr~ to. the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jolty and several. 'site captions and headings of the paragraphs of this Mongage arc for convenience only and arc not to Ile used to interpret or define the provisions hereof. 14. Notice- Except for any notice required under applicable law to be given in another manner, (a) any notice to - Borrowcr provided for in this Martga¢e shall be given by mailing such notitt by certified mat addressed to Borrower at the Properly Address or at such other address as Borrower may designate by notice to i:ender as provided herein, and (b) any notice to Lender shall he given by cernfied mail. return receipt requested. to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower :s provided herein. Any notice provided for in this Mongage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. iS. Uniform MonRaRe; Gorentiwg Law; Severability. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real properly. This Mortgage shall bt governed by the law of the jurisdiction in which the Property is located. In the , event that any provision or clause of this Mongage ar the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Nate which can be given effect without the conflicting provision, and to this end the provisions of the Mortgage and the Note arc Jcclared to be severable. 16. iliorwwer's Copy. Borrower shall be furnished a conformed cop} of the Note and of this Mongage at the tithe of execution or after recordation hereof. l7. ,Transfer of the Property; Assumption, If all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's pricer written consent. excluding (ai the creation of a situ ar en+wrnb:ance subordinsle to this Mongage, (b) the creatran 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 (d1 the grant of any leasehold interest of three years or less ndt containing an option to purchase, Lender may. at Lender s option, declare all the sums secured by this Mongage to be immediately due and payable- Lender shall have v?-aived such option to accelerate if. prior to the sale or transfer, Lender and the person to whom the Property is to be snlJ ar transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate ac 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 assumption agreement accepted in writing by Lender. Lender shall releax Borrower from all obligations under this Mongage 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 shall provide a period of not less than 30 days from the date the notice is mailed within 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 1R hereof. Mort-l1NIFORI?t CovENANTS. Borrower and Lender further covenant and ague as follows: is. Aiaw; Rea:<-tiles. Ezra! as pravld~! isr ~t~raplt iy Irereot. tRow lonower: etreacU of atry covenwt or agrremeN of dorrowcr h this Mortgage. hxlwdittg the co.cwarws to pay whew iwe swy wan sttaetl by this Mortgage. Center prbr to accekrwtbw :trail mail wotke to >don~ower as'rovtded Iw paragrallr /4 hereof speef/yfwg: (1) tlrs brcwth: (21 the ocfiew - regals+ed to cure web breach: (3) a date, woe fns thaw 30 days irowt the date the twtice r twa0cd fo iflerrswer. by whist sseh breach fatal be cwrcd; and (4) that taBwre to cwre arch bratch ow a before the date speel8ed d the tsotkte way tesait i• aceekratbw of the arwa deeded by thk Mortgage. tore~aioarre by jta~cW !~i awl trtdt of the hoperry. The wotite tthaY htrther hatorw Borrower of the riglM to rcirtstate titer trceeltratbw awl the tight to ttaserf h the torceloarrt Nocaeeiwg the tww-exWewce of a detswk or tmy other defcrae of iliorrower to aecekratbw aced torecbwre. N the btreaeh hti woe cored ow or before the date sptx~fied i• the trotice. Lewder at I.rttder's t,ptiow wtay dcciwre a# of the swttrs atewesd by tW Meetgage M be immediatdy dsre anti paysble witbwN father demand and may torecbte tWs Mortgage by ~trdkW Aoeeediwtt. Leader shaA be e~tNkd to coYeet iw awch pocesdirtg at a:pcwses rat foreclosure. lwchtdiwg. 6wt woe Wilted to. rcarewabk att•,raer's tees. anti eottts of doc~!wewtary evidence, abstrwcts anti title reports. 19. )jortowes's Right to Reiwgate. Notwithstanding Lenders acceleration of the sums secured by tht• Mongage, - Borrowsr shall have the right to have any proceedings begun by Lender to enforce this Mongage discontinued at any time ',8327 ~~~E~.375 al~ox - -