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Home My WebLink About2936 • .,r - -l ~ t - Lender'a written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall biome additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such imounts 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 lime on wrtstanding principal under the Note unless pa'yrttart 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 requite Ltnder to incur say expaae a take any action hereunder. laspectioa. Lender may make or cause to be made reasonable entries upon and inspections of the Property. 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. Coadewsatbw, The proceeds of any award or claim for damages, direct or rnnsequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. )n 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 L~eoder 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 amarnt of the sums secured by this Mortga(tt immediately prat to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to iorrower. if the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower faits to teepees to lender within 30 days after the date such rrotioe is mailed, Lender is authorized to collect and apply the proceeds. 'at Lender's optan, either to restoration or repair of the Properly 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 I and 2 hereof or change the amount of such installments. lA. ilsotrower Not Rekas+ed. Extension of the lime for payment or modification 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 Bc?rrower'z successor in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the u~ms secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. l 1. Forrearawce b!' Leader Mot a 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 Larder's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Remedies Caws4fl~e. 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. Saeceasors and Aat3gws bound; Joiwt aa~d Several i.iabiUty; Captiows. The covenants and agreements herein contained shall bind, and the rights hereunder shall inrrr~ to. the respective successor and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joir~ and several. The captions' and headings of the paragraphs of this Mortgage arc for convenience only and are not to tk used to interpret or define the provisions hereof. 14. 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 certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shaft be given by certified mail. return receipt requested. to lender's address 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. lS. Usfdorw Mortgage: Goveroisg Law; SererabBity. This form of mortgage combines uniform covenants for national f use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering E 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 conflicts with applicable law. such conflict shall not affect F 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. 16. lion~ower's Copy. Borrower shall be furnished a conformed copy- of the Note and of this Mortgage at the time f of executan or after recordation hereof. 17. ,Trawsfer of ere Tro'trty: Asssmptioa. if all or any part of the Property or an interest therein is sold or transferred by Borrower without Lenders prior writrrn consent. excluding (al the crcatan of a lien or encumbrance subordinate to this Mortgage. (b) the crcatron of a purchase money security interest for household appliances, (c) a transfer by devise, 9 descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three yeah or less not containing an option to purchase, Lender may, at Lender s option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to aceelerate if, prior to the sale or transfer. Lender and the person to whom the Property is to be co1J or transferred reach agreement in writing that the credit of such person is utisfactory to Lender and that the interact payable on the sums secured by this Mortgage shall be at such rate as Lender shall-request. if Lender.has waived tFrc option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreement accepts., in writing by Lender. Lender shall release Borrower from all obljgations under this Mortgage and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in sccordanrc w•irh 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 fails to pay such arms prior to the expiration of such period, Lender may. without further notice or demand on Borrower. invoke any remedies permitted by paragraph IR hereof. ' Norr-1JNItTOaM COVENANTS. Borrower and Lender further covenant and agree ss fellows: ls. Aeedeeatlow; Rewedfa. Except r'e+ovlided i• prsBrsyr 17 Irertot. apon Retso+rers rseaer o[ any cot?eaerrf or agtroeareat ot'oerower r tlris Marge. lseiadisrg Are eoresasts to p7 when tae ear taws sectored b His Mortgage. Lewder ptrior b seederatlow srai rwsN wotice to >forsewer r pwrided iw pragraplr 14 tercet speeYfirrgz (1) the llrescr; (2) ere sctbw egsired b ease stncr rtttacr; (3) a daft, trot less Haw 30 days trove ere date Arc wotke r wafted b Mrrewer. f?y wrier sorer rseaelr asset k ~ ant (4) Hat tellers b eeue sncM rraclr oa or retose ere date geeYei d ere wotke say rtsdt d secekrtlisw of ere sort aecared r7' trfs Mort;age. toeeclowee r7 jo~eW pr+octe~ awl sale of He lh+operty. Tree wotiee star itrrHer iaferw isrrswet of ere riRM b seiastate alter stetkraAoa swd ere riglN b ast+M iw Are toetelsswc ptoeeedlwg ~ ere aoa-exMeuee of a eldsi or awy otter ddersse eat eorrorrer to sccderatlow std tostetlosart. Q Are rrtacr r wet eased a ( or 6elsse Are date spteiisd i• ere works. Leerier at Lesder's optlow rway decrrre ar of Are saws seeaetd b Ads MsststtRe b re iwwedWely dire awl psyaMt witroat trrtrer dearand asd way teeeclose tNs Moet`sRs ti jwikial pneeediaR. Lender stall be eaAAtd b co/tet for ewer rr expesses of toreclosare. iachediag. bat vest Br¦Neai M. etssoaaMe stt.xaer's tees. i sad eseb of elacr'~eMary svideact, abstracts awl title repels. j j 1!. 1Mesrwp'a R~ b Reiastats. NcNwithdanding Lenders accekntion o/ the sums secured by this Morgage, Borrower shall have the nght to have any proceedings begun by Lender to enforce this Monpge discontinued at any time eo~K~~ Pec~~~5 E 3 i