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Home My WebLink About0686 ~t • F Lender's written agreement or applicable law. Borrower shall pay the amutnt o[ all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with~li~~~r~tier~on, shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Le Ill ~ta~t~eeee to other terms of payment, such amounts shall be payable upon notice from Tender to Borrower requesting payment thereof, and :hall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless paj?ment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require-Lender to incur any expense or fate any action hereunder. !L Iaspeetion. Tender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Tender shall give Borrower notice prior to any such inspection specifying reasonable carne therefor related to Lender's { interest in the Property. 9. Coadewgtbw. The 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 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 i u is oqual to that proportion-which the amwmt of the sums secured by this Mortgage immediately prior to the date of _ taking bears to the fair market value of tht Property immediately prior to the date of taking, with the balance of the proceeds 4 paid to wet. Tf the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to make an award or xttle a claim for damages. Borrower failx to respond to Tender within 30 days after •ihe date such notice is mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or t+epair 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 of such installments. 10. Eorrower Not Released. Extension of the time for payment or modification of amortization of the sums secured e by this Mortgage granted by Lender to any successor in interest of Boirrower shall not operate to release, in any manner, the liability of the original Borrower and Borrowers successor in interest. Lender shall not be required to commence proceedings against such successor or refuse Io extend time for payment or otherwix modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Fariearwwce by Lewder Not s Waiver. 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 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. Rentcdies Cnwwladve. 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 successisely. ' 13. Sneeesors swd Assigns laowwd; John swd Several i.iabilily; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inurr~ 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-joitlj and several. The captions' and headings of the paragraphs of this Mortgage arc for convenience only and are not to 13e used to interpret or define the provisions hereof. 14. Notice. Except for any notice rcgoired under applicable lsw to be given in another manner, (a) any notice to Borrower ptoovided 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 Bormwer may designate by notice to Tender u provided herein, and = (b) any notice to Lender shall he given by'certified mail, return receipt requested. to Tender's address stated herein or to such other address as Lender may designate by notice t~ Borrower as provided herein. Any notice provided for in this - Mortgage shall be deemed to have been given to Bormwer or Lender when given in the manner designated herein. 1S. Uwiforw MortRsge; GoverwieR Lw; 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 rtal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. Tn the event that any provision or claux 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 this end the provisions of the Mortgage and the Note arc declared to be severable. lf. Ifbrrower'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. 17..Trwwsfer of tie horerty: Aswmptiow. 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 encumbrance subordinate to - € this Mortgage. (b) the crcatton of a purchase money security interest for household appliances, (c) a transfer by devise, f descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of thrtc years or less not containing an option to purchase, Lender may, at Lender s option,•declarc all the-sums secured by this Mortgage to be • immediately due and payable. Lender shall have waived such option to~acceknte if, prior to the sale or transfer. Lender o 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 Io Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate ac Lender shall request. Tf Lender hu waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ' interest hu executed a written assumption agreement accepted in writing by Lender. Lender. shall release Borrower from all ~ obligations under this Mortgage and the Nag ` Tf Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in sccordantx w•irh paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the ratite is mailed within which Borrower may pay the sums declared due. Tf Borrower fails to pay such sutms prior to the expiration of such period, Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph lg hereof. ~ - NoN•Unttroant Coverrerrrs. Borrower and Lender further covenant and agree as follows: - I lft. AceeleratlotB Renredks. E=rM as N'ovMed is raetrgrr+rlt 17 rered. urorr )sosrrwea's bresteh of say eovernrrt ar agrtewent d >ienower iw tiffs Mortgage. IaeiwdGtg the eortzwawls to ray whirr dwe any what stw:wrcd dtis MorlRage. ietsier ~ rrior b scederadon slat mail .odee b Isorrewer as rrovNed iw rsragnrr 14 hercot sreeltyiags (1) tie iscid:l2) the st:1Mn trcwi+cd to errs wei breaer; (3) a date, not less than 30 days ttrorw tic dale tie wt>tiee r waxed b >temewer. fay wild stsei ireaci wrt ie e~rcd; assi (q dal taibre b etwe wci Brceaei a ar retore tie date sreclfied V tie notice ttswy resttM r weederalfon d tie wws aectrrcd h' tNs MertgaRe. toreelosnre f trdkW rroete~ acrd sale at the lrorerty. 7tte ndke j t1W ttsrtier iwtorw Sor»wer d the right b reiwsbtt after accYkrtdow wwd tlse right b tteroerf M lie toreeloswrt pr~oeeaittg ~ tic son-e:irlence d a detanlt or s~¦f Mlrer ddersse of Donower to accekratbn sad toseclowrs. M ~e Mraeh is oof eared err a< Aietore tie dale areeified i• tie notice. Lewder wt Lender's orlon way dtwlare sit d tie wws staesrcd fry Ale Mortgage M k iwwediah#y dwe and pfwbk whiont ttMlter demand and way torsclose thes Marlgags i7' JtrdkW NreseiR. LMder siaN 6e ewdtlei b eol8ect fst web rroetedirtg a• a:pewees rat foreclosure. inclwditrg. lrrrt gist lirnitsd b. rcwwaYe sfUxrtet+'s fea. atsd casts d iwer-~ewtary evWewce, a6straets awl tick rerorb. ~ lf. liorrewa's Rftit b Refistate. Notwithstanding Lenders acoekntan of the sums secured by this Mortgage, Borrowu shall have the right to have any proceedings begun by Lender to enforce this Mortgage dixontintxd at any tune B~lO~KJ~?0 PAGE