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Home My WebLink About0269 • . . ~ i 4~ ' Lender's written agreement or applicable law. Borrower shall pay the amount o[ all mortgage insurance premiums rn the manners provided under paragraph 2 hereof. Any amounts disbursed by Lender purswnt to tha ra r ,~ith interest thereon, shall become additional indebtedness of Borrower secured by this Mortgage. Unless ltd ender agree to other terms of payment. such amounts shall be payable upon notice 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 out:landing principal under the Note unless pa'yrttent of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permiuibk under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. ll. irrr~ecfiow. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shall Rive Borrower notice prior to any such inspection specifying reasonable cause therefor related to Larder's interest in the Property. 9. CowJemwstbw. 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 as is equal to that proportion which the amount of the same secured by this Mortgage immediately prior to the date of takin6 bears to the fair market value of the Property immediately prior to the date of taking, with the bafanoe of the proceeds paid to Borrower. ' If the Property is abandoned by Bor:ewer, or if. after notice by Lender to Borrower that the condemnor offers to make an award or settle m claim for damages. Borrower fair to respond to Lender within 30 days after the date such ratite is mailed, Lender K authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair at the Property or to the sums secured by this Mortgage. Unless Under and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend 6 or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. lA. Eorrower Not Rek~ed. Extension of the time for payment or modifkation of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and &?rrower s successors in interest. Lender shall not be required to eornmenoe proceedings against such successor or refuse to 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. Forbearawce r7' Leader Not s Nhirer. 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 xcured by this Mortgage. 12. Rcaredies CroWire. 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. Swccemors awd Aromas Found:.!cirri swd Several i.iabiiity; Csptiows. The covenants and agreements herein ' contained shall bind, and the rights hereunder shall inure 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 joirJ and several. The captions and !readings of the paragraphs of this Mortgage arc for. convenience only and arse not to be used to interpret or define the provisans hereof. - 11. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certifkd mail addressed to Borrower at the Property Address or at such dher addres_c as Borrower may designate by ratite to Tinder as provided herein, and ~ (b) any ratite to Lender shall he given by certified mail. return receipt requested. to Lender's address snared herein or to such other address as Lender may designate by nc+tice 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. UwUoria Mort~e: Gorenriwg Law: Serenbilfty. 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 property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the j 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 tht Conflicting provision. and to this end the provisions of the Mortgage and the Note are declared to be xverable. ~ ig. ¦on+ower's Copy. Borrower shall be furnished a conformed copy' of the Note and of this Mortgage at the time ~ of execution or after recordation hereof. 17..Tranafer of ere >rro'erty: Aswmptiow. if 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 creation 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 (d) the grant of any leasehold interest of three years or less t not containing an option to purchase, Lender may. at Lender s option, declare all the sums secured by this Mortgage to bt - immediately due and payable. Lender shall have waved such option to accelerate if, prior to the sale or transfer. Lender _ and the person to whom the Property is to be solJ or transferred reach agreement in writing that the credit of each person is satisfactory to Lender and that the intercct payable on the sums secured by this Mortgage shall be at such rate ac Lender shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all obljsations under this Mortgage and the Note. if Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance v?•irh - i 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 !ails to pay such arms prior to the expiration at such period. ~ Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ~ . ' Nor+-UNtt=ottnr Coverrerrys. Borrower and Lender further covenant and agree as fdlaotn: - ifl. Acederatiow; Remedies. Except es prnvfied is Mragraplr 17 rersot. rpa lotrewa'a 6reaeY d say cerestwN K s - apsemewt d >isrrrrwer i• Ufa Mortgage, IaclwJfrtg ere coresrswts to'ay wren Jae say sanrra acctrsi r!' tW Mortgage. l,ewJer Ix~ to sccderNisw ~aR mail notlce to •orrower sa proriicJ fw paragnplr 14 repot speeifyfags (q ere iawcr: (t) ere sctisw rgalreJ M eves wee IK+esck; (3) • rots, not leas Uaw 3A Jays from ere Date ere saetiee ie snaBei fe 1{asrawer. r7' wtticr seer raeacr aasiM k eweJ; awJ (4) Uat taYrres to cars wcr rrcacr oa or fletoa Ue date yeefOeJ r ere settee rosy resale f• aeeslerMiaw d ere wms aecsrrei fly Uia Mortsage. toacctosars fly jtrdkial lrnueesJNrg aaJ scale d Ue hoperty. Tee Walks - s avail ttrrUer irstorsi torrewer d Ue riRM to rsir~ste after seceleratfow awJ ere rlgb b rent i• the iersetaatws NeeseJiag # ere non-exMence d a Jetmrlt or say other defense d Eorrower to accekrMiaw awes fersclowrs. f1t Ue keacb is not ewsJ en ~ or fktore ere isle apseiJsi i. tee settee. Lender at Lender's opiow rosy Jeehre aft d Ue wrrra ssesrrsi fly Uia Mertg~c w k J iraasei~y Jwe awJ pyafllc wiUoat twrtrer demand rand rosy tor+ccloae trit Mar/grtgs ly jlwifei.l /ntesdfaR. i-ender slraM ~ ftie eatWei eoBeet iw rater NrescJfrri at expenses of forccfosars, fwcrrJiag. 6wt wst Wwi1sJ b, resawMe stt•xaey'a fees. ~ . alai eoaea d ioer'7ewtry sridewce, abstracts awJ title repro. i!. /orrowp's Rlgrt t• Reiaatats. Notwithstanding Lenders acceleration of the sums secured by thn Mortgage, 1 Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time t ~n ; ~ 6UOi(JJl1 PAGE ~ ~