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Home My WebLink About0314 . • Lender'i written agreement a applicable law. Borrower shall pay the amount o[ all mortgage iowranoe praaitrtm is the manner provided under paragraph 2 hereof. Any amounts disbursed by [.ender purwant to thr paragraph 7, with interest thereon, shall additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to fr~)?ratrt, such amounts shall be payable upon notice from lender to Borrower requesting payment thereof, and shall bear interest fr+am the date of disbursement ai the rate payable from time to time on artstanding principal under the Note tmless payatart o[ interest at such rate would be contrary to applicable law, in which event such amounts shall bear iMaest at the bislrrst tale permissible under applicable law. Nothing contained in this paragraph 7 shat! require Lender to ir>ctrr say expense a tats any action hereunder. fl. Itrs~eetiow, i_ender may make or cause to be made reasonable entries upon and inspectiorn of the Property. provided ' that [.ender shall give Borrower rrolice prior to any such inspection specifying reasonable cause therefor related b Larders interest in the Property. j 9. C~ The proceeds of any award or claim for damages, direct or consequential, in oortrtecdoa with any condemnation or other taking of the Property, or part thereof, a 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 wms secured by this Mortpge. 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 pr~ooeede ' as is egwl to that proportion which the amount of the sums scarred by this Mortpge immediately prior to the dale of taking bean to the fair market value of the Property immediately prior to the date of taking, with the balance o[ the gooeeds paid to Borrower. if the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor oilers b 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 re~ontion or repair of the Property or to the sums secured by this Mortga~te. Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal snap rat exlead or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 herco[ or change the amount of such installments. lt. Isarrower Not Reiptaea. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any cuccecsor in interest of Borrower shall not operate to release. in any manner. the liability of the original Borrower and Borrower s successors in interest. Lerrtler shall not be required to canmenoe proceedings agairut 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 Borrowers successors in interest. 11. Rorrearawce dq Lewder Nof s waiver. Any forbearance by Lender in exercising any right or remedy hetetutder, or ? otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right a r+ernedy. The proarrcment of insurance or the payment of taxes or ocher liens.or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness sectrrrd bry this Mortgage. 1L Remedks Ctr~nhtlve. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or aRorded by law or equity, and may be exercised concurrently, independently or wooessively. 13. Sacceasors and Assigns liotrrrd: Jolt ant Several i.isbiity; Captio•s. 71re covenants and agreements herein contained shall bind, and the ri(tltts hereunder shall inurg to. the respective successors and assigns of Lender sad Bon+ower. ` subject to the provisions of paragraph 17 hereof. All rnvenants and agreements of Borrower shall be jary and several. 'I1re captions•and headings of the paragraphs of this Mortgage arc for convenience only and are rat to Ile used to interpret or define the provisions hereof. 14. Natke. Except for any notice.regrrired under applicable law to be given in_arwther manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certilkd mail addrcaed to Borrower at the Property Address or at such other address as Borrower may designate by rrotioe to i.errder as provided herein, and (b) any notice to Lender shall he given by certified mail. return receipt requested to Lenders sddrea stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Atry ratios provided far in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner desiputted herein. iS. Uniform.Mortgage; Govern Lsrr. Seversbflity. This form of mortgage combines uniform coven:rats 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 jurisdictiar 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 atleet I other provisions of this Mortgage or the Note whech can be given eeFect without the conflicting provision. and to this end the provisions of the Mortgage and the Note arc declared to be severable. if. )fonewers Copy. Borrower shall be furnished a conformed copy of the-Note and of this Mortgage at the time 's of execution or after recordation hereof. 17..Traaater of tMe Pro'erty: AswaMtiow. 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 cration of a lien or encumbrance rarbordinate 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 yeah a less ~ not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortpge to be # immediately due and payable. Lender shall have waived such option to aeoekrate if. prior to the sale or transfer. Lender j and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person ' is satisfactory to Lender and that the interest payable on the sums secured by this Mortpge shall be at such rate as Lender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ interest has executed a written assumption agreement accepted in writing by Leader. Lender shall release Borrower from all obljptiars under this Mortpge and the Note. If Lender exercises such option to accelerate. Lender shall mail Borrower notice of accekntion in aceordanc^c with paragraph 14 hereof. Stirclt notice shall provide a period of not less than 30 days from the date the notice is mailed within ~ which Borrower may pay the wms declared due. If Borrower tails to pay such wms prat b the expiration of such period, Lender rnay. without further notice or demand on Borrower. invoke any remedies permitted by paragraph tg hereof. Nox-Ut~rrt~atnt Covt*_r+wMS. Borrower and Lender further covenant and agree as folbws: ~ ifi. Actdaadom Rawetfrks. EueM m lrov~ L M~~ 17 Merest. ~ Issrsrwers rteaer et sh covs~rt s+r , j agraemeaR et Bsrnwer fi this Mortgage, faclsiag tre ewetarats !o !h' whew drre air saws setwsti My prix Mortgage. Levier pier N ascdesatlse trMsB ail settee ts)serrswer as poviiei M NragrspM 14 Merest yeeKflrrgt (1) t1e Mseaclu (21 tfe aNisrr spier b cure weM Mreaek (3) a dale. net Mss trss 3t ~ treat tMe fists be talks fs aisi M Baeewer. b wMfitM srKM MnseM meat re essek a¦i ih Irat faiMae N care sxr M~eseM err K Metsre tMe date gteliei r tMe rtatkY ~ nwrlt fw aoeeieslalfau at rte sera sscarei y tlris Mertgrtge. tsKCisarrrr b ~ ! arri sale at tMe Troperty. 'iLe astke , sMar firlMer istsrw iorrrwer et tMe right M teiasfate after secsle*aflon arri tMe riglN M assert in lMe hrseMwre pncsstilsg ~e aoe.esi~ee at a ddasM or any afMer ietease o/ eorro~wer N act:eierstiea aai fsreeiowre. N Hre Mtrsaer ss act ettttei N err Mdese tfrte isle speeYsd V the astiee. Lester N t.eaiers a*tion rssy restart a/ aft the w¦ts set~ssi Mq tMis Msrtgage fs re iraeiiMeilr ire aui psyaMe wNMoat tsrtMer tea+arrd and gray fattiose IMIs Martgags r!' jsifeW /sroseig, Leader drat ix satMsi N erMet b seer pseeciirrg a/ ex~eses of tortcfassrt. MrelaiMrg. Mgt aM fitailsi 1s. seassaaile sttwrretrls ftia. a¦i esslt sfr iserttueahry triieaee, aMArscb awi tWe rt'asb. j lf. >wrts~wa's R~1rt N Reiashtt. Notwithstandintt Lender's aooeleration of the awns sectaed by thr: Mortpse. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortpge discontinued at any time X333 314 s