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Home My WebLink About0654 Lender's written agrcetaent or applicable law. shall pay.the amount of all mortgage instuance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon, shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and ~eatlt:t s~toq tip other temts of payraeM. 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 outstanding principal under the Note antes pa'yateat of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rata permissible under applicable law. Nothing contained in this paragrap~'1 s1l:ill, requite, Lender to incur any expense or take any action hereunder. A lasptctba. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shall give So~rower rt~tice prior to any such inspection ~pec~fying reasonable cause therefor related to I~etrder's 1 interest in the Propggr:'; . ~ ~ i 9. Coadewwstioa. The proceeds of any award or claim for damages direct or consequential, in connection with ear 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 tender. Ln the event of a total taking of the Properly. the proceeds shall be applied to the sums secured by this Mortgage, with the excess, if any, paid to Borcower. In the event of a partial taking of the Property. unless Borrower and Larder aherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the prooeedt as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the data of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balattoe of the proceeds paid to Borrower. 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 fails to respond to Lender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Properly or to the sums secured by this Mort(taite. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due data of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[ _ such installments. 10. larrower Not Rekssed. Extension of the time for payment or modification of amortization of the somas secut+ed 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+rcower s successors 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 sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Forrearaace r!' Leader Nof a waiver. Any forbearance by Lender in exercising any right or remedy heretmder, or otherwise afforded by applicable law, shall trot 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 Ltnder shall not be a waiver of Leader's right to accelerate the maturity of tht indebtedness sectrr+ed by this Mortgage. 12. Reruedks Cassh>ttie. 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. Successors sad AsrlRas Bound: ,Joint sad Several ILbirry; Cspdoas. The covenants and agreements herein cnntained shall bind, and the rights hereunder shall intrr~ 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 joiry and several. The captions' and headings of the paragraphs of this Mortgage arc for convenience only and are not to lie 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 Borcower provided for in this Monga¢e shall be given by mailing such notice by certified mail addressed to Borrower at the Properly Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall he given by certified mail, return receipt requested. to t.endet'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. IS. Uaitorw Morigrgle; Govcraiag La.r. Severabilitr. 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 i 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 etiect without the conflicting provision. and to this end the provisions of the Mortgage and the Note arc declared to be sevenbk. 1L. iorrowers Copt. Borrower shall be furnished a conformed cop)' of the Note and of this Mortgage at the time of execution or after recordation hereof. 17..Traader of ere Tropertr: Aswmptioa. if all or any part of the Property or an interest therein a sold or transferred ~ by Borcower without tender 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. t 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 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 accelerate if, prior to the sale or transfer. Lender and the person to whom the Properly is a? be cold or transferred reach agreement in writing that the credit of such 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 hss executed a written auumption agreement accepted in writing by Lender. Lender shall release Borrower from all obligations under this Mortgage and the Note. if Lender exercises such option to accelerate, Lender shall mail Borcower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the data the notice is mailed within which Borrower may pay thr sums declared due. if Borrower fails to pay such sums prior to the expiration of such period, Lender may. without further notice or demand on Borrower, invoke any remedies permitted by paragraph Ig hereof. Nor+-UNrwarrr CovewarrTS. Borrower and Lender further covenant and agree as folbws: w Ifl. Aeederatiou; Reweiks. Except at provWtd k panps'r 17 frereot. ulsa rornwer's ireacr o[ ary coveaswt ar 5 amt of ienawetr V dais Ma~t:sge, iatladrtg ere eoreaaab to Par wrew due say saws seeurcd ti!' trY Mortgage. Leader 'riot b aeederatloa scar wail notice to Borre.nr ss provNc+ iw pragrapr /4 tercet spteltrlsg~ (1) ere ircaer; (2) ere aetisa , rquirrea fro ewe wet rtltat:r; (3) a dom. got rw traw 30 days trove ere date ere wotke le wares to Bernwer. rr carter seer I rseaer vast re tttsx~ atsd (4) tree tairrre !o cart wcr bratr ow w re[ore ere date s~teiki i• tre aoUre nay malt b aecda'aliou at the reset secured ST tris Mortgage. tortefosure b jadlew proettiirtg sad salt et tre Tr~operty. Tre aetkt star furlrer iatotrw rorro.rer of ere riRM t• re~att after aceekratbu sad ere right b avert fw ere torecleswe proeee~ttg ere aow•eaisteate at a detauk or ear otter defense of rorrower to accekrafiou sad toreclostrrc. Q ere rrtaer is sat eared ea or 6derc ere dale yteffitd v ere aot'ice. Leader at leader's o'eba way acetate ar at fire vests stawcd ftry tris MertirtRe fs re ~ iwwedialelr due asd payable wltrotr/ tartrer demand sad war foreclose tris Merlgagt h' judicial ~eaesedlsR. Leader star ' bt eatltlta to eoreet i• suer poetediag sit expenses of foreclosure. laciadirrg. rat aN rwNed M, reasoaafNt! sttwnev's fees. a~ cosh of ioes,••aeMarr eddeaee, aMtrsets awd title frprb. i~. ranvwa's Rfgltt to Relustate. NcNwithstanding Lenders accekratiai of the sums secured br the Mortgsge, Borcower -shag have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time • ~ 3 X331 Pa~E 654 ~ ~R P~~E 709 E g~~328 r~ , L~'.*j