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Home My WebLink About0759 - ) ? , 1 ender's ++ritten agrret,rcnt or applicable law. 13nrruwer ;hall pay the :rmrunt of rull.sttTa~tgage iucur+iic~l~remiums in the 'aant:er ~ ~ a:yiiied under paragraph ? hereof. Am' :unuunts d,;hursed M• I miler purwant to this paragraph 7, s+ith interest thereon. shall I+ecunre additional ut.lchtedne;; o! Rormwer secured by thi; ~lnrtga~e. l nh.c &~rr.~++er :urd 1 rniler agree to ether tcr•mc of payment. itch ? amounts .hall he payable upi~n noii.e front 1 ceder to BnrrJNer reuuesting payment thereof. and shall hear interest fmm the i d.rte of dishurcement at the rate payable from time to time on outctandinc p, incipal under the Note unlesc payment of intereu at such rrR would t+e contras to applicable I:rsv. in which event such amounts shall hear intercct at the highest rate permissible under applicable la++•. \othing contained in this paragraph 7 shall require Lender to incur any expense or take any action hcrcundcr. ~ 8. Inspection. Lender may make ur cause to he made reasonable entries upon and inspections of the Property. provided 4 that Lender shall give BOfmwl'r nuticc prior to any such inspection specifying reasonable cause Ihertfor related to Lender's ~ interest in the Property. I 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with any condemnation or other taking of the Property. or pan thereof. or for conveyance in lieu of condemnation. are. hereby assigned • and shall he paid to i.cndcr. - ' In the scent of a total takine of the Property. the•prcx:eeds shall he applied to the cams secured by thi: Mortgage. I with the escecs. if any, paid to Borrower. In the event of p rtial taking of the Property. unlesc BoFmwer and Lender otherwise agree in writing. there shall he applied,~r}~~ 3cbt~r s~iacureJ by this Mortgage Such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this ~lortgagc immediately prior to the date of taking hears to the fair market vahre of the Property immediately prior to the date of taking. with the balance of the proceeds paid to Borrower. - Tf the Property is abandoned M• Bormw•er, or if. after notice by Lender to Borrower that the condemnor offers to make i :ur award nr settle a claim for damages, Borrower faih to reslx•nd to I ender within 30 days after the date cuch notice is mailed. Lender is authorized to rnllect and apply the proceeds. at lender c option. either to restoration or repair of the Propcrh• or to the sums secured by this ':Noricage. 1.lnlesc Lender and Borrower otherxise agree in +sriting. am• such application of proceeds to principal shall not extend ~ nr pixtpunc the due date of the monthh• installments referred w in paracraphs I and ? hereof nr change the amount of ;uch installments 10. Borrower riot Released. Fxtcncion of the time for payment or modification of amortization of the come soured by this Mortgage granted by Lender to anv_ successor in intcrest of Borrower shall not operate to release. in any manner. the liability of the original Burm++er and Borrow•er'c successors in interest. Lender shall not he reyuircd• to commence procec.lings against such'success~rr or refuse to extend time for payment or otherwise modify amortization of the sums € ;geared by this Mortgage M• reason of am• demand made h>~ the orieinal Borrower and Borrowers successors in interest. ? 11. 1Forbearance by Lender Not a Waiver. :any fnrhearance h+• Lender in exrrcicing any right or remedy hcrcundcr, or nthcrwis~ atfarded by applicable law. chill not he a wailer of nr preclude the exercise of any such right ~r remedy. The procurement of insurance or the payment of tares or other liens or charges her Lender shall not he a waiver of Lender's right to accelerrtc the maturity of the indch!cdncss secured by this Mortgage. 12. Remedies Cumulative. All remcdie, pm+ided in this Mortgage arc distinct and cumulative to ins other right or ' remedy under this Mortgage or afforded M• law or equity. and may he exercised concurrently. independenth• or succecsiveh•. l3. Succeswrs and Assigns Bound: Joint and Sclera) Liabilih•: Captions. The covenants and.agrrements herein contained shall hind.:md the riches hcrcundcr shall inure ta. the respective successors and assigns of Lcndcr :aid Borrower. .object to the provision. of paragraph 17 hereof. All covenants and agreements of Borrower shall Ire joint and several. The caption. and headings of the paracraphs of this Mortgage arc for convenience nnh• and an; not to he used to interpret or define the pmvisican hereof. 14. Notice. Except f?•r am• notice required under applicable law to he given in another manner. fa) any notice to 13ormwer provided -fur in this ~lnrtgaee shall he gwen h. mailing such nMice by certified mail addressed to Borrower at the Propene Addres or at such other address as Borrower roil de~ien:rte M• entice to I ender as pnn•ided herein. and t# IM grey notice to Lender ,hall he eivcn M• certified mail, return receipt rcuuected. to Lender'; address stated herein or to much other address as Lender may designate by notice to Barniwer as prn+ided herein. :~m• notice provided for in this o... l ....t..~ . ~ ~r... isaa:nn-.ri•rt h~ri•in 2 a. a .i..`T...i ~ ..aa •abuE,i. J i iii •ti va. a.•~ai ai• ataiil Ua. a.ii t-- i.'. iii i.... ii::al: A 15. lTniform ~ioricaKe: Governinc I aa; Severabilih. 'Ihi. form of mortgage u•mhinec urrifoim rnvcnants for national ~ sae and ease-unif:.rm covenants with limned s:rriaUon. he iunsdictinn to constiune a unifornr securih• instrument rnvering _ real property. This Mortgage shall ere gu+•erned hs• the law of the jurisdiction in which the Pmpcrt)• is located. In the es•ent that am• provision or clau;r of thi. MortLaee nr the Nnte crnrtlirts with applicable law-, such conflict shall not affect - i~ther pnni.inm. of this Mortgage or the Note which can fx given ellect without the conflicting pmvisirnr. and to this - 't, end the prosisirns of the \1nrtLa!=~ :urd the \otc arc dccL-rred to f•e seeerahh- 16. Borrower's Copy. Boren+.er sh:dl t.e furni.hc;l :i caa?fnrmcd cope ut the tiotc and of this Mort>age at the time of eyecution or after recordation hereof. 17. Transfer of the Pmpert~::lssumption. If all .•r an+' n:rrt of the Property nr an interest therein is sold or transferred he Bornrwer without Lender's prior written current. escludin_ ta? the creation of a lien or encumhrancc subordinate to ~ thi; Mnrtgaxe. Ihl [hc crcatinn of a purchase names secizritc interest far houcchoW appliances. Ic) a transfer by devise. decent or M• operrtion of law upon the death of a ioint tenant or fd? the grant of any leaxhold interest of three years or less ind rnntaining an option ti. purchacr. Lender mos. at I ender'. option. declare all the sums secured by this Mortgage to bC ~mmediatelc due and payable. Lender shall ha:•e wailed such option to accelerate if. prior to the sale or transfer. lender and the person to w•hnm the Property is to he sol.l or transferred reach agreement in wasting that the credit of such person is catisfactan- to i.ender :rod that the interest payable pas the suns secured M• this Mortgage shall be at such rate as Lender i ;hall reyucst. If 1 ender has waieed the option to acceler;te pro+•idcd in this paragraph 17, and if Borrow•er~ successor in j interest hoc executed a written assumption agreement accepted in writing by 1_en.ier. Lender shall release Borrower from all 1 obligations under this bortgage and the Note. i If Lender exercises such option to accelerate. I ender shall mail Borrower nuticc of acceleration in accordance with paragraph 14 hereof. Such nuticc shall provide a period of east less than i(1 days fmm the date the notice is mailed within t ~+hich Borrower miry pay the sums declared due. If Bnrruwer fails to pry such sums prior to the expiration of cu~fi period. Lender may. without further notice or demand on Iinrmwer, im•nke any remedies permitted M• paragraph 18 hereof. 3 NON-UNIFARM COVE~:AVTS. Borrower and Lender further covenant and agree as follows: 18. Acc_eleratioo; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of Borrower in this !~tortgal;e. including the covenants to pay when due any sums secured by this Mortgage, Leedtr prior to acceleration shall mail notice to Borrower ac provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date; not less than 30 days from the date fhe notice is mailed to Borrower, by which such breach must be cared: and (41 that failure to cure such breach on or before the date specified io the notice may veldt in k r acceleration of the sums secured by this bortgage. foreclosure by judicial proceeding and sale of the Property. '[lie notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceediug 4 the non-existence of a defauk or any other defense of Borrower to acceleration and foreclosure. If the breach is not cured on ? or before the date specified in the notice. Lender at Lender's option may- declare all of the sums secured by this Mortgage to be immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding all expenses of force{osurc, including, but not limited to, reasonable attorney's fees, _ and costs of documentary evidence. abstracts and title reports. 19. Borrower's Right fo Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage, j Borrower shall have the right to have any proceedings begun by 1_ender to enforce this Mortgage discontinued at any time r ~~p 6fl0 ~ PAGE I~