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Home My WebLink About1277 k Lender's written regiment or a ~ ~ ~ ~ ~ ? i ag g pplicabk law. Borrower shall pay the amount o[ all mortgage insuratree pttxnittms in the i manner provided under pars rah 2 hereof. Ariy amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon, shall become additional indebtedness of Borrower secur+od by this Mortgage. Unless Borrower and lender agree to other teems of paytrxttt, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall: bear irtte+r+est•from the date of disbursement at the rate payable from time to time on art:landing principal- under the jVo1e uwleas• paynaewt of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest iit the hl:ltr~t rate permissible-under applicable law. Nothing contained in this paragraph 7 shill require Lender to incur say eicpettae or take any action hereunder. R IwspeetNw, i_ender may make or cause to bt made reasonable entries upon and inspections~of the P4opertr, pr~irided that Lender shall give Borrower notice prior to any inch inspection specifying reasonable cause therefor related to Calder's interest in the Properly. CooietrrnaMow, The proceeds of any award a claim for damages, direct or consequential, in eonrtection with aa7 condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. ~b~gtl~ ~gaed and shall be paid to i.ender. in the event of a td~l 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 artial Lakin of the otherwise p 6 Property. unless. Borrower and Lender agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the pr+ooeeda as is egwl to that proportion which the amatnt of the sums secured by this Mortgage immediately prior to the -dale or 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 Borrower. t if the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor oRas to tttalte ~ 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 ~ repair or the Property 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 exlatd or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereo[ or change the amount o[ such installments. 11. Borrower Not Released. Extension of the time 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 Borrower's successors in interest. Lender shall not be required to commenx 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': wecessors in interest. 11. Foriearawce ~ Lewier Nof s N?atver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise aBorded by applicable law. shall not bt a waiver of or preclude the exercise of any such right or rarredy. ~ ~ The procurement of irtaurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of tender's right to accelerate the maturity of the indebtedness securrd by this Mortgage. It Reweiks Cwrwttlrl~. All remedies provided in this Mortgage are distinct and cumulative- to any other right or remedy under the Mortgage or aRorded by law or equity, and may be exercised concurrently, independently or sttccasively. 13. Swccesaors atsd Asigws Boarsa:.ioiet awl Several i.iabiWy; Captfows. The covenant and agreements herein - contained shall bind, and the rights hereunder shall incrg to. the.rcspective successors and assigns of Lender soil Borrower. ; ~ subject to the provisions of paragraph 17 hereof. All covenants and tgrcement of Borrower :hall be jary and several. The captions-and headings of the paragraphs of this Mortgage arc for convenience only and arse rat to Ile used to ` interpret or define the provisans hereof. - I 14. Nefke. Except for any notice required under applicable law to fie 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 Tender st provided herein. and (b) any notice to Lender shall he 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 tatice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner design;led herein. IS. Uwifonw Mortgage; Govcrwiag Law; SeverabWty. This form of mortgage combines uniform covenant for national use and ran-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering trot property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the s event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not afhct other provisions of this Mortgage or the Note which can be given eQect without the conflicting provision, and to this end the provisions of the Mortgage and the Note arc declared to be sevenbk. ~ 1L. lorrower's Copy. Borrower shall br furnished a conformed cop~• of the Note and of this Mortgage at the tithe ~ of execution or after recordation hereof. ~ 17. ,Trawarer or the >rroperly; Asarrrpioa. if all or any part of the Property or as interest therein is sold or transferred z by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to this Mortgagt. (b) the creation of a purchase money security interest for hotaehold 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 a less not containing an option to purchase, Lender may, at Lender's option, declare all the wms 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 t and the person to whom the Property is to be cold or transferred reach agreetrtent in writing that the credit of such person is satisfactory to Lender and that the interact payable on the sums secured by this Mortgage shall be at such rate as Lender shall rogttest. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written aswmption agreement aeapted in writing by Lender, Lender :hail 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 aeoordancc with s paragraph 1.4 hereof. Such ratite shall provide a period of not less than 30 days from the date the notice a mailed within which Borrower may pay the sums dxlared 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 lg hereof. Note-Ut+tt~ottw Covetvet+rs. Borrower and Lender further covenant and agree as follows: - lf. Aceekratie~ Rests. S:eept r provYei its paragrapr 17 ra~e.t. rt*ew larnwds rtwei et rttq e~•ewewl er { agreewse~t er Borrrwer Iw ells Mesfgsge, reltadfrR the covewarls to pay view iwe trwy srrna secwrai y /leis Motrplage. iewier paler f. seaebsatiew scan nail wotlce w ljwnwer aa'ro.wcd M peragrapr 14 hesrot spaeifyitt~gs (1) lre b.e.eb: (21 tic actlew se~irrd w geese wets rte (3) • ire. stet ias troll 3!! lays [tww flee isle lie wotke b tttwifei N Mrrower. b wYei rates Maer tract rte erttt~ swi to trot raYwte N ettre wcr Meech a er berme ere isle speeNei b tie wotiee tray tesslt i• sccdesatlsw er Ae sort seewrei y tills MoelgtRe, fMedaaore y jwicW pteeeei¦~ ttwi sale er tic >rteperty. The wNiet arsn twrlrer befits )terrtrwer d tree tligltl w t+eiaseals srler aeesknliow sell tie rlgltt M aasett iw ere ta~aelas.tre ps.eeetirg tie wow•ettMatee at a idattlt ar sq Mier ierewse or toarower a arcekratrn sled toteebww+e. R Ire iteaelr b legit emei ew ~ K idise fire ire speeliai fw tie tnaNes. Lewier st I.ewaer's aptlow rwap iaine an rt lie ttttasts sseaei b Ili iNortgpa to k iswteib~ely iwe rtwi payaYe..itrowt twrtrer rewrana aril twat' r«ecleee lib MerAgage b fr+kW w'at:siVR. i.ende. dawn M ertNdai N eiieet Iw tttsei psia^aeiirtg s# espettses of forecloswte, iwcrsing, bwt ttM rwtNai M. reaaawaMe sttweep's ha. swi Bests of ieer-sewlary evitleweq ardrsets ssi title tKperls. 1!. /sewwa's R4it M Reitthle. Notwithstanding Lenders scoekrstion of the sttrws secured by thts Mortgage. Borrowu :hall have the right to have any proceedings heEtrn by Lender to enforce this Mortgage discontinued at any tithe 800K~~ P~GE~~7~ ~ - - _ _