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Home My WebLink About0072 _)~3~:3 Lender's written agreement ~r applicable law. Borrower shall pa}• the amount of all mortgage incur:+nt:c premiums in the manner provided under paragraph 2 hereof. Am' amounts disbursed by Lender pursuant to this paragraph 7, with interact thereon, shall become additional indeh?cdness ttf Borrower secured by this !1lortgage. l'nless Rorn?wer anal Lenaler agree to other terms of payment, wch amounts shall he payable upatn notice from 1 ender to &+rntster requesting pa}•ment thereof. and sh:d! hear interest fmm the al:rte of alichurccntcnt at the rate paeahle fmm time to time on outstanding principal under the Note unless payment of interact at such rate would he contrary ta• applicable law, in which event such amounts shall hear interest at the highest rate permissible under a~tplicahle law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspection. !..^^acr ma}• make or sauce to be made reasonable entries upa.n and incpcctions of the Properly. pmvidcd that 1 ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9, Condemnation, The proceeds of any award or claim For damage's. direct or ratnsequenti:rl, in connection with any a:undemnation or other takinL of the Property. or part thereof. or for conveyance in lieu of condemnation, arc hereby assigned and shall tx paid to Lender. In the event of a tub+) taking of the Property. the pratceedc shall he applied ta. the toms secured by this MorigaQC. scith•the excess. if am•. paid to Burr.~wer. 1n the event yC. a p:+rtial taking of the Pmpert+•. unless Rormscct and lender ,ttherti•ise agree in writing. there shall Its al~liEd.tA'fht~ sums secure) by this Mortgage each proportion a.f the proceeds as is equal to that proportion which the amututt of the sums secured by this Llortgagc immediatel}• prior to the date of taking hears to the fair market t•alue of the Property immediately prior t?• the date of taking. with the balance of the proceeds s paid to Borrower. If the Property is abandoned M• Bormwcr, or if. after notice by !.ender to &?rmwer that the condemnor offers to make an award or settle :t claim for d,tmages• Bormwcr fails ta• respa.nd to Lender within ~Il daes after the date such notice is s mailed. Lcndcr is authorised to collect and apply the pmceedc. at Lenatcr's option. either to restoration or repair of the J Propern• or to the sums secured hr thit ~lorteage. j Unless Lander and Botruster otherwise agree in ttritin~~.:uta~ sua•h application ++f pn><eedc to principal shall not attend ur pantpone the due date of the monthh• inctallntents refc?rrd to in t~araer,?ph. 1 and 2 hereof or change the amount of such installments. 10. Borrower Not Released. Extension of the time fa+r payment or ma.dificatiun of amortisation of the sums secured by this Mortgage granted by Lcndcr to any succecutr in intere.t of Bormwcr shall not operate to release. in arty manner. the Iiahilil} of the original Burmtter and Bormwer's sut:cesst,rs in interest. lender cha!1 not he reyuireat to commence pra.cecdings against such successor or refuse to attend time f+?r p:n•ment ur otherwise modify amortizati++n of the sums se~urcd by this Nurtgage by maca•n of any demand made M the original Borrower ;utd Borrowers atccessars in interest. 11. Forbearance by i.cnder \ot a ~i'aiyrr. Any furhearance h. Lender in etercisinL any right ar remedy hereutxler. or t~therwise atfurdcal by applicable law, shall not Ile a waiver tit ur preclude the exercise of am' such right or remedy. The procurement of insurance: or the pat•ment of fates or other liens tar charges h}• !.ender shall not he a +aaiver of Lender's right to accelerate the maturih• ~f the imlehtcdness sc_utra M• this ~lortgaee. 12. Remrdits Cumulative. AI! reme.licc pn»ided in this Mortgage are distinct ;:nd cumulative to arty tither right or remedy under this'.liortgate or a(Tt+rdrd ht law ur eyuity.:?nal m:+y Ile rtercisetl t:ancurrenth•. independenth• a.r succescit•eh~. 13. Suecescars and assigns Boirnd; Joint and Se+eral Liabilih•; Captions. "The rnt•enants and agreements herein rnntained shad) hind, and the riihts hereunder shall inure to, the respr~tiye succe.uac and assigns of Lcndcr and Bormwcr. subject to the prt»isiuns of p;uagraph 17 hereol. :~11 ~uyenants and agreemenh of Burn»yer shall Ile i,~int and ceyeral. The captions ;+nd headings of the p:uatraphs of this ~lurtgagr arc for aenvenirnce onh• and arc net to tto used to intrrnrrt or define the nmyiciurn hcrco~ 14. \otice. Except f,~r :+nt• notice required under app:irrhle I:+w •to he eiyrn in another manner. fat any notice to Rurmwcr pruyided for in this ~turtL;tte shall tx~ gtyen M mailing su;h nrtire ht ~ertrficd mail addrescal to Born»ycr at the Property Address or at such oher adt_tress ;+c Burrower mac designate ht nurisx a• I ender ac pct+a•ided herein. and !h) am noti~r tit f enaler sh:+Il Fx• given tertifiral mail. return receipt rcuuested. u~ I ender'. address stated herein or to .uch other address ,rs 1 ender m:rt designate ht nuti~e tr Borr,~tcer ac prutided herein. :1m• notice provided far in this ~lt,rtga¢c shall txx deemed to hate barn titan to I;ormwer ,~r !ender ++hrn Lit•en in the manner designated herein. 15. ('niform Morl>;a>;e: Governing Law; Seyerahilitc. •Thrs fu:m of mort~_a~_e _cTmhines trnift.rm cu+•enants fur national n+e and min-ttnifuntt c,~u•nants ++ith limited a,rrratinm by iurisdia•tinn t~+ ;on;tinUr a uniform security instrument cot•ering real property. This :Mortgage shall Fx guaented by the la.. t,f the iurisdirti,~n in which the Pmpert:~ is lakated. In the earns that :u»• pn.vicucn ~~r clause of this \lurteaer rr the \,~tr c+vrt?ict. with applicable law. cosh conflict shalt not affect ,ahrr pr.»nitms of this ~it~rttagr ter rhr tiri.• athich pan hr _r+rn rtTe.t withuui the c:mt?i.rini pmeiciun. anal In this erd the pr.,a isrun. u1 '!tr 11,~r1_age and the ~,+tr .,rr ,lrcla~ctl t,~ t,r ses•erahh 16. Borrower's Cop}. Borrr.c.rr ,hall furrt:shrd c,ath~nned ct~py t+( the \a,R anti of this ~lurttage at the time ,~t etecution ter after rec;.rdation heret~f. 17. Transfer of the Properts; Assumption. It ,iii ,~r an; t+,~rt t,l the Property ur an interest therein is s..ld ur transferred h} Bornrwrr with.±ut Lender's prier writtra consent. Ltcluding +.u the creati,+n ,,i a lien or cncumhrance suhordinatc to chi. ~tort•~;etc. rht the t rratinn .•f pure h:,sc nu,nry .e~: nrin intrust l~,r househa~td appli:mcrs, (ct a transfer hr devise. descent tar by uprr.tuon ui I:nt npa~n the death ,~f i~~~~+t tenant ter td, the leant ..f :,m leasehold intrrest~of three tears or less nt+t containing an option to purihacr. 1 ender m:+}..rt 1 rnarr's ,~ptr,ar. ete.l:rrr a!1 the sums sc.:uud by this 1lortgage to be ,mmrdrttelt• due and nat_•ahlr. Linder shall hate ++aited such option t~~ acceler,+te if. pri+~r to the ,ale or transfer. Lender and the fxrson to w'hortt Iht Property is to he sot,! ur tr:,nsterred reach agreement in writing that the credit of such person rs satisfachtrt• to !.ender and that the intent pac:+hlr on the .ants secured ht this \iort:age shall he at .etch rate as Lender shall request. if 1 ender has waited the option to accelerate pr,~yie}cat in thts paragraph 17, and if Borrower's successor in interest has executed a written assurnptie•n agreement asserted in ;triune by Lender. Lcndcr shall release Borrower from all ohligationc under this Mortgage and the ?Vote. If Lender exercises such option to ac;:ekr;+te. tender. shall mail Borrower notice of acceleration in acrnrdancc with paragraph 14 hereof. S!rch notice shah provide a period :.f not lac, than 3(1~1a}•s from the date the notice is mailed within which &~rruwer may° pas the sums declared due. If Borruater /ails n. pat such sums prior to the ctpiration of such pcrictd, Lcndcr mac. withrntl further notice or demand un I;urmwer. ,nvukc am remedies permrtte:f ht• paragraph 13 hereof. Nom-UxttoRttt Cot•F~,nTS. Bormwcr and I ender further covenant and agree as follows: 18. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or af;reement of Borrower in this Mortgage, including the covenants to pay when due am• snms secured b}• this :~fiortgage, [.ender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: /l) the breach; (2) the action required to cure such breach; (3) a date. not Its. than 30 dati:c from the date 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 result in acceleration of the sums secured by this Mortgage. foreclosure b} 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 forecli~sure proceeding the non-existence of a default or any other defence of Borrower to acceleration and foreclosure. If the breach is not curved on or before the date specified in the notice. Lender at bender'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 alt expenses of foreclosure, including, but not limited tn, reasonable attorney's fees, and costs of documentary evidence. abstracts and title reports. 19. Borrower's Right to Reinstate. tiotwithstanding Lender's aca:cleration of the sums secured by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time a~~332 PEE 72 -w 1:~ Y1. z'arTr~. V~ 'f