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Home My WebLink About0819 • • ' ~ ~ ` r~ Lender's written agreement or applicable law. Borrower shall pay the amount o[ all mortgage insurance premiums is the manner provided undei paragraph 2 hereof. Any amoupis disbursed by !.ender purswnt to the paragraph 7, with interest thereon. shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and lender agree to other terrrrs of payment. such amounts shall be payable upon notice from i.ender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payr~hje from tune to time on artstanding principal under the Note unless paymat of interest at such rate would be eo~trary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Noi~ring contained in this paragraph 7 shall requite Lender to incur any ptpaae or talcs any action hereunder. >R taspectiow. i.ender may make o cause to be m~ reasonable entries upon and inspections of the Property. provided that Lender shall give Borrower notice prtnr to any site inspection specifying reasonable cause therefor related to Larder's interest in the Property. 9. Cowderwraliow. The pracee4ls o(,~ yrav~trd or claim for damages. direst or consequential, in contrecttorr with aey condemnation or other taking of tlyd Ptopa~y; of part thereof, or for conveyance in lieu of condemnation, arc hereby asdgtred and shall be paid to Lender. in the event of a total taking of the Properly, the proceeds shall be applied to the sums aecttred by the Mortgage. with the excess, it any, paid to Borrower. in the event of a partial taking of the Property. unless Borrower and Lewder otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds ss 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 ofhxs to ttaioe an award or settle a claim for damages. Borrower tails to respond to Lender within 30 days after the date such rrotioe is mailed, Lender is authoriud to collect and apply the proceeds, at iender's option, either to restoration or tt~air d 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 petard or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the aarouM of strch installments. l1. Borrower Not Released. Extension of the time for payment or modifkation of amortization of the sums setxnsd by this Mortgage granted by i.ender to any cuccecsor in interest of Borrower shall not ope?ate to rcksse, in any manner. the liability of the original Borrower and Borrower c successors in interest. Lender shall not be required to eomrrrenoe 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': successors in imerest. 11. Forbearawce by Lender Not a Waver. Any farhearance by !.ender in exercising any right or remedy her+aarder, a otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right a remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lenda's right to accelerate the. maturity of the indebtedness segued by this Mortgage. l2. Retwedks CttwrahUve. All remedies provided in this Mortgage arc distinct and cumulative to any other right a remedy under this Mortgage or afforded by law or egLity, and may be exercised concurrently, independently a suooessivdy. 13. Swcceso~s and AssiRas Bound: Joht swd Several i.iabiBty; CaPtiows. The covenants and agreements herdn rnntained shall bind, and the rights hereunder shall intrr~ to. the respective successors and assigns of Lender apd Borrows, subject.to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be join; and several. The captions' and headings of the paragraphs of this Mortgage arc for convenience only and are trot to 13e used to interpret or define the provisions hereof. 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 dher address as Borrower may designate by notice to Tender ss provided herein. and (b) any notice to Lender shall he given by certified mail, return receipt requested, to tender's address stated Mersin a to I~; such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this j Mortgage shall be deemed to have been given to Borrower or Lender when given in the manna designated hereixr. IS. Uwifonw Mode: Coverwiag Law: Severabitity. This form of mortgage combines uniform covenants !a national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering I 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 this Mortgage or the Note conflicts with applicable law. such conflict shall not affect other provisions of this. Mortgage or the Note which can be given elTect without the conflicting provision. and to this end the provisions of the Mortgage and the Note arc declared to be severable. lf. )sorrower's Copy. Borrower shall be furnished a conformed cop)• of the Note and of this Mortgage at the time of execution or after recordation hereof. l7..Traader of the Property: Aswwtptiow. if all or any part of the Property or an interest therein is sold or trarrsferted by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage. (b) the crcat~on 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 years or less not containing an option to purchase, Lender may, at Lender s option, declare all the sums secured by this Mortgage to 6e immediately due and payable. Lender shall have N•aived such option to aaekrate if, prior to the sale a transfer, Lander and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person is utisfactory to Lender and that the intcn~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 accelerate provided in this paragraph. 17, and if Borrowers successor in interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all oblisations under this Mortgage and the Note. if Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in aceordancc with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice: a msikd within which Borrower may pay the wms declared 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 1 g hereof. s - Noty-UIiiFOaM COVENANTS. Borrower and Lender further covenant and agree ss folloars: li. Aceekratiosr; Rewredia. E=KM as N'ovNed fir ptaragraPr 17 Irered. nMa Ser*'rrwers Meaelt at atq covaraM K a~rea.eaR of Rors~ower iiw this Mart;age. iaclw~rg the coewarb to My when dwe any twtrr stewed by tliis More. twwdetr wlor b secaieratbw shat waY wotlce b Iorrower aa'rovided M ~raplr 14 hereof spCeftyht~ (1) Are hsttttreln (2) the sdMw sietl.irea to ewte stseh hseacl~ (3) a date, wet has thaw 3s days tnotw the Bete ~s wotke fie w.iett M liarrawer. hf whki sweh ~rsweh aastst he essed; awd (4) flat talitrrs b etw~e streh hrcseh a or hetere the date gsctied V the wNke essay rssttit V aeedesadaw of the sitar seewd by thM Mortgage, toKCbsrrr h j~eW lroees~ awd sale of the ffro~euty. 'lllrt wstia ~ j shah tstrther btLorw >sorrswer of the riRM b relwsbfe after secekratlow and the right b aretrt iw fhe tsretlsswst psoteeitg the wow~e:Waoce of a deiswlt or awy other ddewse of >forrower b aceekrattow and torseioswe. N the hseach r tt+M eared N ar bdose the dale geeiAed iiw the notke. Lewder at t.ewder's oMtiow my dsehre sA et ore stress ssewed ~ fhb Marriage b he ~ irwrediale#y dire awd pyaMe withod trwtha dea?and and way torctlae This Mortiait by jwiklal lsreoeiR. Leader daN } he ewfMktl 6 eorect fiw stseh poeeedia~ ar espewses of torecbstrrc. Iwchrdiai. hwt west BtwNsd b. reasswaMe stturaev's fees. ~ awts sab of ioeuwewtarr evideaee. ahstrseb and tick repro. 1!. iforrowa's RiiM b Reiwslate. Notwithstanding Lenders acceleration of the sums secured by tht: Mortgage, i Borrows sties!! have the right to have any proceedings begun by Lender to enforce this Mongage discontinued at any time '~R335 PEE 818 . ~f:~f