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Home My WebLink About0198 Lender's written agreement a applicable law. Borrower shall pay the amount o[ all mortgage insurance premittrra in the manner provided under paragraph 2 Itereot. Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. shall become additional indebtedness of Borrower secured by this MQAgage. ~,J4kss rand lender agree to other terms of payment, such amounts shall be payable upon notice from Lenart to Borrowg~~~ting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under efts Note unless,pa~rrteat ~ interest at such rate would be contrary to applicable law, in which event such amounts shall beu interytt'at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any `oxperae a take I any action Itereurtaer. >L lsttrecHow, lender may make or cause to be made reasonable entries upon and inspections of,tbe Property. provided that Lender shall give Borrower notice prior to any such inspection specifying rcaaonabk cause therefor related to Uatder"s interest in the Property. 9. Cow~erwwstiow, The proceeds of any award or claim for damages, direct or cotuequential. in connection with any ~ ~ condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of c°nrlett~t~ttioq, ~ heteby assigned 1 and shall be paid to Lender. In the event of a total taking of the Property. the proceeds chaff 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 Larder otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds u is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of 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. if the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor ogee to make } an award or settle a claim for damages, Borrower fails to respond to 1_ender within 30 days aher the date such notice is mailed. Lender is authorized to rnllect and apply the proceeds. at lender's option, either to restoration or repair of the Properly or to the sums scoured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[ such installments. 10. lorrower Nol Released. Extension of the time for payment or modification of amortization of the sums setcttred ! by this Mortgage granted by Lender to any sttccecsor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrowers successors in interest. Lender shall not be required to commence - procoe~ings 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. ~4 11. Forbearawee ti ie.dcr Not a w#iver. Any farl+earattce by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law. shall tree be a waiver of or preclude the exercise of any such right or rrmedy. The procttrcrnent of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Rewedks CtiwoW1?e. All remedies provided in iha Mortgage are distinct and cumulative to any other right or s remedy under this Mortgage or afforded by law or equity, and may be exercised conctunerttly, independently or suooessively. ' ' 13. Soeeeaaors sad Asagas Boawd:.lohtt awe Sevetral i.ia6Wly; Cartlorts. The covenant: and agrcetnettts herein contained shall bind, and the rights hereunder shall inuuE to. the respective wccessors and assigns of Lender apd Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several. E The captions' and headings of the paragraphs of this Mortgage are for convenience only and are not to lk used to interpret or define the provisions herrnf. f 14. Notice. Except for any notice required under applicable law to be 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 map designate by notice to i.ender as provided herein, and l (b) any notice to Lender sha0 he given by certified mail. return receipt requested. to Lender's address stated herein or to j i such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this ~ Mortgage shall bt deemed to have been given to Borrower or Lender when given in the manner designated herein. s 1S. Uttifortw Mortgage; Govcraiag Law: SevenbilitY. 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 event that any provision or clause of Chic Mortgage or the Note conflicts with applicable law, such conflict shad not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to this ~ end the provisions of the Mortgage and the Note arc declared to be severable. i 16. ¦orrower's Cory. Borrower shall be furnished a conformed roP>•• of the Note and of this Mortgage at the time f t of execution or after recordation hereof. 17..7'rawsfer of the Prooperty: Aswwtptiow. if all or any part of the Property or an interest thercin'is sold or transferred by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance wbordinate to ; this Mortgage, (b) the creation of a purchase money security interest for household appliances, (e) a transfer by devae, 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 sums secured by this Mortgage to be i 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 mach agreement in writing that the credit of such person is satisfactory to Lender and that the inten~ct payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. if Lender has waived the option to socekrate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obljgations under this Mortgage and the Note. 1f Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance t?•ith ~ paragraph 14 hereof. Such 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 fails to pay such sums prig to the expiration of such period, 1 Leader may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph lg hereof. Na+-Untt?oant Covetvertrs. Borrower and-Lender further covenant and agree as follows: I li. AcederatioM Rawedfn. E:cent as rrovided h rru'~rarU 17 heree% rrror. torrrwds Mach el say awerM K ~ apeewtat of lerrtrwer f• Iris Merl age, iwtittdisg Ire cotewaats to raj wra toe soy scats secarei ~ rtes Mortgagee. Lander ~ ! rrlar N aeedaatlow dri taN woike to Bosrower as rrttvidN b rangrylt 14 renter sreetfylogs q) tt<te Mach: (>h the setrow f rr~irai a care wet Mtaerl (3) a ~ cot less thaw 3• dap treat ere date ere ttotiee to toaiett N Bernwer, b wftkit sae Maer ttt~ k c~trttlr sot (4) fiat failore N toro weA Mtaer ow er M:tae ere date sreefBei r ere wotice Wray rtsaN V j aoetkratlew of Ire scats seeor'sd b ~ Moslgsge. raeclowre b ~ rte[ atstl sale et ere Propery. 71te welree ~ sraM Mrer iwtors Iterrower of ere trlgM fo rtiw~ak sNer ateeleratiow awe I're ttigiN b atrert N t>tt rertelssore ~reeesirt~ ere wow~e:iMewee or a elkraolt or aq otter ierewse or •wrower to acceleratiew awe toreelowr~ N lire MtaA r wst earei a K Mlere Ire dMe sreeYei V tie Welke. Lewder st I.ea/er's ort6ow stay rtelaree all a1 ere soma stcore~ r!' Mtls McAgagt la lee I..tealaldy tae awe rapMe wWwwt rtsrlrtr daw,ana awn ttttay r«telo.e INr M«Ig+t~ b la++r~ r~~le. L~wdar .rr rte etttWsi a eeBeet r wet rneisdiaE aN ettrettsts of fortdosort. IwertiiaE. Nt wet eatitei Oa. resaawalk sttureter's fees. earl aosls er ioeuwattaq ed/ewee, ardraels awe title rtrorb. 1!. llorrewa's Rfgr! t• Relrta/e. Notwithstanding Lender's acceleration of the sums secured by thy: Mortgage, Borrows shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time BRRK ~5 PaGE 1~