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Home My WebLink About0417 - _ I.ender'c written agreement or appGcahlr Lcw. Burrower shall pay the amount of all ~Ilc~tl~agc insura~+~ premiums in the nlannrr p~uvide.t under paragraph 2 hereof. Anv amounts dishllrscd by I.cnder pursuant to this partgraph 7. +vith iaerect thereon, shall became additional in;iehreJnrss rf Borrower secured by this ~turteage. l'nlcs. Rorr+n+er and 1 ender agree to other terms of payment. such am~amts shall he payable ulr•n notice from 1 enter to Barnlwer reyursting payment thrrcof. and shall hear interest from the Jury of dichursement at the rate payable from time ti. time on outstanding principal under the Note unless payment of interest at such rate ++oulcl Le contran~ to applicable law, in which event each amounts shall hear interest at the highest rate permrssihtc under applicable law. Nothing ~ontaineJ in Ibis par-,igraph 7 shall require Under to incur any expense or take any action hereunder. 8. inspection. LenJcr may make or cause to be made reasonable entries upon and inspections of the Property. provide) that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's intcrest in the Property. 9, Condemnation. The proceeds of any award or claim for damages, Direct or consequential. in rnnnection with any condemnation or other taking of the Property. or part thereof. ar for conveyance in lieu of condemnation, arc herchp assigned :mJ shall be paid to l.cnder. In the event of a Total taking of the Property. the proceeds shall he applieJ to the toms secured by this Mortgage. with the excess, if any. pail to Borrower. in the event of a partial taking of the Property. unless Borrower and i.cndcr otherwise agree in writing. there shall he applied to the sums secure) by this Mortga~e ~~ICT1` p~ portion of the proceeds as is equal to that pn•portian which the amount of the sums secured M• this Mortgagit'immedialeh• prior to the date of taking hears to the fair market value of the Property immediately prior to the Jate of taking. with the balance of the proceeds paid to Borrower. - ' if the Property is abandoned by Borrower. or if. after notice by Lrnder to Borrower that the condemnor offers to make - an award or settle a claim for Damages. Borrower fails to respc.n•.I to Lender within 10 days after the date such notice is mailed. Under is authority-d to collect and apply the proceeds. at i.ender'c option. tither m restoration or repair of the Property or to ine sums secured by this Mortgage. tJnlcss f.ei}der and Borro+er otherwise agree in writing- am• srlch application of proceeds to principal shall not extend ar poctpane the~duc Jate of the monthly installments referred to in paragraph. 1 and 2 hereof or change the amount of such inctallme~ltc. ' 10. Borrower~~lot Released. fixtension of the time for payment or modification of amortisation of the sums secured by thin Mortgage-granted by 1.enJer tc• am_• successor in intcrcst of Borrower shall nor operate t~ release. in any manner. the liability of the original Borrower and Borrower's succescorc in intcrest. Lender shall not he required to rnmmencc pr~.ceeJingcugainst wch successor ar reface to extent time for payment or othenvice modify amortization of the sums ~:ecured by this Mortgage by reason of am• demand made M• the original Borrower and Rormw•er s successors in interest. 11. Forbearance by Lender lot a Wai.•er. .A m_• forbearance h\ Lender in exercising am• right or remedy hereunder. or - otherwise affurdeJ by app!icahle law, shall not he a waiter of or preclude the exercise of am• such right or remedy. 'The procurement of insurance or the payment of tapes ar other liens or charges h}' 1 ender shall not he a \+aivcr of i enters right to accelerate the maturity of the indrhtedness se~~ureJ by this Mortgage. 12. Remedies Cumulatise. All remedies pro\ided in this 'Mortgage arc distinct ant cumulative to an+• other right or - remedy under this ~tartgage ur affardcJ h+• law or eyuit~. an.l may Fx rverciced roncurrcntl\-. independently or successleel\'. 13. Successors and :1scigns Baund: Joint and Se+eral l.iabilih: ('aptions. The covenants and agreements herein contained shall hind- and the rights hereunder shall inure to. the respective succesx•rs and assigns of fender and Borrower, ,ubjrct t+? the provision. of paragraph 17 herraf. All covenants and agreements of Borrower shall tx~ j,~int :end several. The captions :mil hraJings of the paragraphs of thin :~tartgage arc for corivenientt ooh- and arc not to he used to interpret or define the provisions herc~f. 14. \otice. l;xcept for am• notice reyuired under applicable la++ h~ he Qiven in another manner. fat any notice to Borruw•er provided for m this Mortgage shall hr gi+•en by mailing wch notice by certifieJ trail addressed to Borm+ver at the Propert+- AJdresc or at -such other address as Borrower mav~ designate. he notice to i.endcr as provide) hcrcin. and Ih? anv notice a~ I.cnder shall tx given M• certified mail. retlrrn reCeil•t requrstcJ. to 1 ender'c address stated hcrcin ar to such other address as Under may designate h+• notice t« Born~wer ac provided hcrcin. Any notice provided for in this Mortgage steal! he deemed to have been riven to Bormw•er or I order when given in the manner designated herein. 15. t'niform ~lort>±rs;e: Governint: Law: Severability. "Thi. tarm of mort~~akc combines uniform covenants for national use ant non-uniform omen.:nt. with limited variation: he juris.fctian to constitute a uniform security instrument cm•ering real property. -ibis '.1lortgagc shall Ix: governed by the law of the juris+lictic~n in +chich the Property is located. In the e+•ent that ant provis.ian or clause of thi: ~iorlgagr ar the \ote conflict. with applicable law. snch conflict shall oat affect i other pro+rsiom of this Aiartgage or the Note which can he !_iven elTect without the conflicting provision. ant to this rnJ the provisions of the '~iorteage :aid the \otr arc declared to he ceverahle. 16. Borrower's Cnp~. Borrower .hall hr furnished a crntarmcJ copy ul the \otc and of this Mortgage at the time ' of execution or after recordation hereof. 17. Transfer of the Property: Assumption. If all .~r :un par, of the Property or an intcrest therein is sold or trancferrcd t by Borrower without Lender's prior +vrittrn u~nsent. rscluding 1:;1 the creation of a lira or encumbrance sut><irdinate to this Mortgage. Iht the creation of a purchase monrv security intercsl for hauceholJ applianrec. (cf a transfer by devise, Descent r.r M- operation of law upon the death of a joim tenam rr (s!1 the Brant of am' leasehold interest of three years or less oat containing an option to purchase. Lrnder may. at t rndrr'~ ~~ptian. Jcclarr all the sums secured by this ':lfortgagc to he ~nunediateh• due and pa}•ahlr. Lender shall have w:uveJ such option t.• accelerate if. prior to the sale or transfer. Lender .rod the person to w•hum the Property is to he cold ar trancferrcd mach agreement in writing that the credit of such person is catisfacton to I.cnder and that the imerra pacahle an the sums secured M• this \iortgage chair he at such rate as Lender shall request. If lender has waive) the option to accelerate provide) in this paragraph 17. and if Borrower's successor in intcrest has executed a written assumption agreement accepted in writing ht• Lender. Lender shall release Borrower from all ahligations under this Mortgage and the Notc. If Lender exercises such option to accelerate. I ender shall mail Borrower notice of acceleration in acrnrdance with paragraph 14 hereof. Such notice shall provide a peritxl of not less than in days (ram the date the notice is mailed within which Borrower may pas the sums Declared Jue. If Born•wcr faire to pay such sums prior to tree expiration of wch period, Lender mat•• without further notice or.lemand an Karrower. invoke. am- remedies I+ermitted M• paragraph iR hereof. Noy-Uxtt=otext CovF!v.s~•rs. Borrower and I.cnder further covenant and agree as follows: 18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of Borrower in this Mortgage. including the covenants to pay when due any sums scented by this Mortgage, Lender 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 trom the dale the notice is mailed to Borrower, by which such • breach must be cured; and (4) that failure to cure such breach on or before the date specified in .the notice may resnlt'in t acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of-the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. if the breach is not cored on or before the date specified in the notice, bender at'I.ender's option ma}• declare aB of the snms secored by this Mortgage to be l immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shalt be entitled to collect in such proceeding all expenses of foreclosure. including, but not limited to, reasonable attorney's fees, . and costs of documentary evidence. abstracts and titk reports. - 19. Borrower's Right to Reinstate. Notwithstanding lenders acceleration of the sums secure) by this Mortgage. Borrower shall have tht right to have any proceedings begun by 1_ender to enforce this 1•iortgage discontinued at any tune t r a~ 329 P~~E 417 -