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Home My WebLink About0715 ' - _..t r ~ ~ ~ 1 .t ~.Z- Lender's written agreement or applicabb law. Borrower ~Irall pay the amount of all mortgage insurance prtsniums in the manner provided under paragraph 2 hereof. Any amounts disburxd by 1_ender pursuant to thin paragraph 7. with interrp~,~{h~ Mall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender a>fr+ee Zo otfit:r terms of payment, such amounts shall be payable rrporr police from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payereat of interest at such rate would be contrary to applicable law, in which event such amounts shah bear interest at the highest rats. ; permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any experae or fate any action hereunder. - S. Itupectiow. i.ender may make or cause to be made reasonable entries upon and inspections of thcProperty. 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. Cowdetaaatba. The proceeds of any award a claim for damages, direct or consequential, in contraction 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 takrng of the Property. the proceeds shall be applied tp the sums -secured by this Mortgage. i with the excess, if any, paid to Borrower. in the event of a partial taking of the Property. unless Borrower and Lender otherwix agree in writing. there shall be applied to the sums secttrcd by this Mortgage such proportion of the proceeds as is equal to that proportion which the amarnt of the same secured by this Mortgage immediately prior to the date of taking bean to the fair market value of the Property immediately prior to the date of taking, with the balance of the prooads paid to Borrower. 1f the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offer to make an award or settle a claim for damages, Borrower fails to respond to 1_ender within 30 days after -the date such twtioe is mailed, Lender is authorized to collect and apply the proceeds. at under i option_ , either to ratontion or repair of the Properly or to the sums xcured by this Mortgage. Unless Lender and Borrower otherwise ague in writing, any such application of proceeds to principal shag not tutard } r postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of` such installments. Itl. Borrower NM Relessrd. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by tender to any successor in interest of Borrower shall not operate to release, in any manner, . the .liability of the original Borrower and Borrower c successor in interest. Lender shall not be aired to commence r'M r ~ oceedin a ainst su h p gs g c successor or refuse to extend Ume for payment ox otherwrse modrfy amorttzatron of the sum: xcured by this Mortgage by reason of. any demand made by the original Borrower and Borrowers successors in interest. 11. Rorbearswce h3' Leader Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwix aBorded by applicable law, shall not bt 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 tsy this Mortgage. It Rewredks CtratuhtMve. All remedies provided in this Mortgage are distinct and cumulative to any other right of remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently. independently or successively. 13. Successors sad AssiRas borand; Joht and Several t.isbility; Cspdoas. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender sod 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 ate not to tse used to interpret or define the provisions hereof. 14. Nortke. Except for any notice rcgoircd 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 dher address as Borrower may desigmte by notice to Tinder as provided herein, and (b) any notice to Lender shall he given by certified mail. return rtceipt requested. to tenders addreu 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. IS. Uabtrrta MortRsgc: Governing Law; SeverabBity. This form of mortgage combines uniform covenants for national - use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform aecurity instrument covering real property. This 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 rnnflicts 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. If+. borrower'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. I~..Traader of the Property; Assrrnrptiow. if all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's-prior wriucn consent, excluding (a) the cre~tio~, of a lien or encumbrance subordinate to this Mortgage, (b) the crcat~on of a purchase money security interest for household appliances, (c) a transfer by devise. - descent or by operation of law upon the death o(a joint tenant or (d) the grant of any leasehold iMertwt of three yeah or less not containing an option to purchax, Lender may, at Lender s option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived Stich option to accelerate if, prior to the sale or transfer. Lender and the person to whom the Property is a~ be cold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interrct 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 interest has executed a writtrn auumption agreement accepted in writing by Lender. Lender shall release Borrower from all oblisations under this Mortgage and the Nrxe. If Lender exercises such option to accelerate. Lenckr shall mail Borrower notice of accekntion in accordanc-c with puagnph 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 arch sums prior to the expiation of such period. • Lender may, without further reflex or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. Kota-L,INIFORM CovErr~Nts. Borrower and Lender further covenant sad agres as follows: li. Accekrstbw; Rewredks. Except ss provNed h paragraph 17 hertcel, tree bsrrtrwes's.lasaei et mil' eevst>rwt K agreement o1 >ferrower iw,tiris Malgage, hrehrdiag the covaaaN to pay whtri lie a>•y twrtn ssewrsd h7 tW Matgags. I.esderr - ptrior a aeeeieratloe shsM wrafl trolice to borrower a provNN la paragraph 14 htrreot.fpeeffyit>s: p)the hseach: t2) the setMw rgtrYsd b care teach M+each; (3) a die, ttwt las thstr 3A days trorrr the late the narks is tiaYed M Barrswer. b whki shah htraeh srtnt k erwed; read (4) that faAare to core rwtch breach a a hdore the late geefiei t• the rsotiee wry rewlt hr aeceteratiow a< the wan scarred sy rids MortgaRt. foreclosure b jrlkW preeaelia~ awl sale of the Preperty. 71re tootles shat ttrrther idorwr borrower of the rfgM fo re~StMe after acaYleratiow eel the right to avert i• ~dre taeeNwre preceedlwg tie wow-exWewce of a lefstrk or srq other letertse of borrower to accekratba sal toreclowre. B fire breach b rat evert ew or bdorc the late specfisl i• the woHce. Leader at Leader's optbw wlay deelsre a>N d the wtr stxwred ti lhb Marge to k i¦rareiWely titre awd pysble withotrf trrtha demand and Wray fotceiae fhb Mert;age by jrikW prreseiaR. Leader shap be eratltltl to eoBeet V web proeeediwg al expenses rat forecbwre. Iwclalfag, htN wst Bwdtai Ns, rewwsYe sttxaer's fees, a¦d cab of lver!weMarr evidence, abstract aal Ntk report. 19. barowa's Right to Reinstate. Notwithstanding Lenders accekntion of the sums secured by this Mortgage, Borrower shall have the right to have any proceedings begun hv'Lenokr to enforce this Mortgage discontinued at any time . ~~~32$ Pass 715