The URL can be used to link to this page

Home My WebLink About1291 r Lender's written agreement or applicabb law. Borrower shall pay the aa~ottry or all rnsttrsnoe premiums iw the manner provided under paragraph 2 hereof. , y, } { Any amounts disbursed by lender pursusnt to this paragraph 7~ wrt~ iwterest thereon. shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and lender agree to other terms of paypteM. such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest Iran the date of disbursement at• the rate payable from time to time on aft:tending principal undo the Note unless paymatt d j interest at such rate would be coMiary to applicable law, in which event such amounts shall bear interest at the highest rats ! permissible under applicable hw. Nolhi(rg contained in this paragraph 7 shall require Lender to incur at>)? experae a ttte any action hereunder. - >s. Iwspectioo. ).ender may make qt cause to be made reasonable entries upon and inspections d the Property. provided that lender shall Rive Borrower notice ptior~to any such inspection specifying reasonable cause therefor related to Larders interest in the Property. 9. Cowiewrsatbw. The proceeds of any award or claim for damages, direct or consequential. in conrtectiow with aoy condemnation or other taking of the Property. or part thereof, or for conveyance in lieu d condemnation, arc hereby sssigwed and shall be paid to lender. . - )n the .event of a total taking`d'thd i~opEtty, 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 Lender { otherwise agree in writing.. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds 1 as is equal to that proportion v?•hich the amount of the sums secured by this Mortgage immediately prior to the dab d taking bean to the fair market value of the Property immediately prior to the date of taking, with the balantx d the gooeeds paid to Borrower. if the Progeny is abandoned by Borrower, or if. after notice by Lender to Borrower that the oondeasrar olhrs to pate an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such wotioe is mailed, Lender is authorized to collect and apply the proceeds. at Lender's option. either to rcstorat'ton or repair d era Properly or to the sums secured by This Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application d proceeds to principal span not ex/errd or postpone the dtx date of the monthly installments referred to in paragraphs 1 and 2 hared or change the aptount d = such instsNments. 10. fiiorrower Not Released. Extension of the time for payment or moditkation o[ amortization d the sups secured by this Mortgage granted by Lender to any successor in interest of Borrower span not operate to release, in any manner, the liability of the original Borrower and Burrowers successor in interest. Lender shall not be tequircd to comrrterroe ~ 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. Forrearawce by Lewder Not a Waiver. Any fort+earance by Lender in exercising any right or remedy herctntder, or otherwise afforded by applicable law, shall nM be a waiver of or preclude the exercise of any such right or rrrnredy. The procurement of insurance or the payment of fazes or other liens or charges by Lender span not be a waiver d bender's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Aearedks Cwrwwh>lfie. All rerrredies 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 suooestively. 13. S>tccesrors swd Assigas soawd: ,7oiwt awi Several ice; Ceptiows. The covenants and agreeanents herein contained shall bind, and the rights hereunder shall intrrC to, the respective successors and assigns d Lender spd Borrower, subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be . joirg and .several. 71re captions' and headings of the paragraphs of this Mortgage arc for convenience only and arc not to Ile used to interpret or define the provisans hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower p(ovided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such dher address as Borrower may designate by notice to i-ender as provided herein. and (b) any notice to Lender span he given by certified mail, return recxipt 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 thb Mortgage shall be deemed to have been given to Borrower or Lender when given in the raanrrer designated herein. 1S. Uwuonw Mortgage: GoverwiwR Law: Seversb(ility. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security irtstrumetrt covering real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is tocated. In the ' event that any provision or clause of chic Mortgage or the Note conflicts with applicable law. such conflict Shan not atlect t other provisions of this Mortgage or the Note which can be given eBect without the conflicting provision. and to this f c end the provisions of the Mortgage and the Note arc declared to be sevenbk. - lf. iorrower's Copy. Borrower shall be furnished a conformed ~P3• of the Note and d this Mortgage at the time of execution or after recordation hereof. j 17. ,Trwwsfer of ere Property: Asawwptiow. If all or any part of the Property or an interest therein is sold a transferred by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or errcrrmbance subordinate to this Mortgage. (b) the crcatron of a purchase money security interest for hotpel~old appliances. (c) a transfer by devise. i descent or by operation of law upon the death of a joint tenant or (d) the grant d any leasehold interest of three yeas or less { not containing an option to purchase, Lender may, at Lender s option, declare all the sums secured by the 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 Property is to be cold or transferred reach agreement in writing that the credit of such person = is satisfactory to Lender and that the interact payable on the sums sceured by this Mortgsge shall be at such rate as Leader shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borroser s successor in ~ F interest has executed a written assumption agreement accepted in writing by Lender. bender span release Borrower from all 1 obligations under this Mortgage and the Nae. If Lender exercises such option to auekrate, Lender shall mail Borrower notice of acceleration in accordartR v?•ith E paragraph 14 hereof. Such notice shall provide a period d nd ku than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. if Borrower (ails to pay such sums prior to the expiration d such period. Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph lit herraf. - NoN-UnrFOaar t:,overoet+rTS. Borrower and Leader further covenant and agree as fonows: i lfi. Acederatio~ Rewseafes. Except st: prsvYed 1• psrsgrapr 17 rstrsa/, trNrr Benewds rtaer et asy cavettwtt er egrceore¦t d •errower r Ws Mangage. iwdwabtg ere cevswnrb t• fey wrew acs asq_sor steor~ta 17 Ri Msr~sgs. lacier ~ 1~ b eceelersuow srew.all .Duce b lorrewer sw proiiea r p.ragr.N 14 tartest sp«ryisgs (1) Ae rssselu 121 ere aetiao ~ rawir~ei N core over rreacr; (3) w alt, ova less trs¦ 3• nays trerw ere Gale ere rssuee r Wsi N Baehwer. b wrki std s rsatr wstrrt k aorta; awes (4) crest tailwre N core after tracer w sr rdese ere ~ apaeiMi r ere walict toay rastrk i• ttKaeierausw d ere stress secwrsa r7' uiis MerlgaRe. rer"ecisarwt b jt.ieW M'««~ awi salt of tfe Pr~e*ty. 71e watic~e slei tortrer i¦toror serrewer d trs rift N rsiwdale sfltx eeeekraliow awi ere right lt? a.eA r trt rereelaswre gsrcesiwg F trt .ow•exMarce et a atrewlt or ah .urer aerewse .r 1.rr+ewer M aceeferaua. a.i taseloewre. r Ae re«r is wet e~rei ar retort tlrr: a.lt s'ecliei i• are oeucs, Leafier N i.ewiers oNio. r.wy ieelart si.t ere sores sacsrrsa b Ais IN.rlg,40s f~ re ~ irMeaialellr awe ani pwrsMe witroot twrtrer dewarrd awd wny toreelae Iris Mss4aBe r7' jrriieW /secoeiR. Lewde? drat ~ k osttiAti N eoisct V soei /rrcttaiwg ar sxpewses of fortclosrrre. rKlwari. ti¦t fast fiswMsi tls. etassrtaMt stturaetr1s fses. r swtii cab of iot:~~ewtsry eviiewee, arNrweb sari uue reMrb. If. Borrowa's Rlsrt b Reiwatdt. NdwithuardinE Lenders acceleration of the sums settaed by thr: Martgaie. Borrower shall have the right to have any proceedings heEun by Lender to enforce this Mortgage discontinued at any tiple IsK~4 ?~~i t BOGK . , _:4