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Home My WebLink About0782 Lender's ++rittcn agreement or applicable L+w. liarnn?er shall pay thi amount of a~~tga~~~imtprrmiunts +n the manner pr.wule.l under paragraph 2 hereof. :any :unu:uus di,huniel by Lender pur,uant n. th+, p:rr.rgr:rph 7. +yith iotrrcst thereon. shall t?ectane additional uxlehredne,s ~?f Harrower secured h~ this fit,?nLage. 1'nh„ H~?rrawer :u+.! 1 ender ,+eree to other terms of payment, such :unt•unh shall he pa>'ahh uprn nuti;r finer I ender to H.+rn?wcr reyur.tin~ payment thcrer?1. and shall I?car interest from rtes .late of dishursement at the rah pay;rhklfr.3nt~t~ tgtamc an autctanding principal under the Note unless payment of interest at su:h rate would t+c cantran• tvwAjllicaM`i in ++hich event wch amounts shall hear intercst.at the highest rate permissihk under apphc;rhk la++ Nothing contained in this paragraph 7 chat) require lender to incur any expense or take any action hireundcr. 8. Inspection. Lender may make or cause to he made reasonahle entries upon an~1 impectiunc of the Property. provided that 1 ender shall gi+•c Borro++•ir notice prior to any such inspection specifying reasattahle cause therefor related to Lender's interru in rtes Property. 9, Condemnation. The pn.seeds of any award cx claim for damages. direct ar consequential. in connection with any condemnation or other taking of the Property, or part thcrc~?f. or for convcyancc in lieu of condemnation, are hcrcM assigned and shalt he paid to l.cnder. In the event of a total taking ot~thc Pr~pcrty, the proceeds shall he applied to rtes toms secured by this Mortgage. with the excess, if any, p:rid to Harrower. in rtes event of a partial taking of the Property, unless Hormu•er and i.ender otherwise agree in writing. them shall he applied to the sums sr:curcd by this Mortgage such proportion of the proceeds ac is equ,+I to that proportion which the amount of the sums srrured M• this ~tortgagc immediateh• prior to the date of taking Ix:ars to tl+c fair market value of rtes Property immediately prior to the date of taking, with the halancc of thi proceeds paid to Bormwcr. If the Property is ahandoned by Bormwcr. or if. after notice M• l ender to Borrower That the rnndemnor offers to make an award or settle a claim for damages. &?rrawer lath to re,pand to I ender within itl days after the date such notice is mailed. i-ender is authorind to callrct and apply the proceeds. at I ender', option. either to restoration or repair of the Property or to rtes arms secured M• this ~lortgagc. Unless Lenckr and Borrower othenyise agree in syriting, am• such appGcatian of proceeds to princip:d ,hall not extend or postpone the due state of the monthh• installments referred to in paragraphs 1 :rnd ? hereof or ch:utltc the amount of such installments. 10. Bormwcr Not Released. I:~tension of the time for payment or modification of amortization of the some secured by this Mortgage granted by Lender to anv_ successor in interest of Borrower shall ern operate to release. in any manner, rtes liahility of rtes original Bormwcr and Borrower's succesu?rs in intcrest. i.endcr shall not be rcyuircd to commence proceedings against such successor or refuse to extend time for payment or otherwise mcxlih• amortization +?f the sums ,enured by this Mortgage by reason of anv demand made by the arieina) Borrower and Borrower's cuccess+?rs in interest. I1. Forbearance by i.ender \ot a R'ai~•er. Ant fonc~arance by Lender in c~crcising any right or remedy hercnnder. or otherwise alTorded M• applicable law. sha?I not M: a waiver of ~?r preclude the exercise of any such right or remedy. "Thr procurement of imurance or rtes payment of ta~c, c?r •~thrr liens ar .harges by Lender shall not I?e a waiver of I.cndcr's right to accelerate thi maturity of the indihtednesc srcurrd by this ~fortgagr. 12. Remedies ('umulati~•e. All remedies provided in this ~turtgage arc distinct and cumulative to an}• other right or remi.h• ender this Marlgate ar aff+?rdrd M• law ar ryuity. and may F?e r~erciced concurrently. independenth• or ,trccesciyrh•. 13. Successors and Astiignc Boned; Joint and Several l.iabilih•: Captions. The covenants and agreements herein comainrd sh:dl hint, and the rights hereunder shall inure Io, the respictivi s!rccesa?rs and assigns of Lender and Borrower. suhject Io the pr.?visians of paragraph 17 hereof. .All covenants ;utd a¢reimenK of Borrower shall t?e joint and several. Thr ~aptior» :uul hea.!ing, of the paragraphs of this 1\iorigagr arc far convenience only and arc not to tx; aced to interpret or defier thi pm+•icians hereof. 14. lotice. Except fo: any notice rcyuircd tinder apptic:,hk la+c to he eiyrn in another manner. fat am• notice to &?rn?wer pr.?yidcd for in this Mortgage shall tx given by m:~iling .urh notice by certified mail addrr,sed to Borrower at the Pn?prrty Addre., ar at such other addre„ :u Harrower may de,ien:~h M rn,tirr to I ender ac provided herein. and Ih1 an+ m~ti:r to Lrn+lir :hall hrL•ivrn by crrtifir.l mail. return recrtpt rrunrshd. to 1 ender'. address stated herein or to such ,ether addres, as i.ender mad designate by notice to B.~tn~wrr ac pr.?yided herein. Any notice provided f.?r in this ~ ~turtgage shall he deemed to ha~c hcen given to Horrawer or 1 ender when ~icrn in the manner designated herein. ~ I5. Uniform ~lortt;a~e; Gor;erninE i.aw; Seyerabilih. -fhi, farm ?~f morteaec comhincs uniform covenant, far national nse and n~~n-uniform c..+~rnaitt. with limitr.l variations by iuri,di:ti~m to constinnc a uniform se:urity instrument covering real property. This ~torteage ,hall tx: governed he the law ..f the lurisdictian m which the Property is located. In the ~ went that any provision ar clausi of this ~tortkacr err the :~••tr contli.h with applicable law. such conflict shall not affect uthrr prayi,iam of thi, 'Mortgage .?r the Note which c:ut t?e ~•isrn ellrct w•i!hout rtes amflicting provision. and to this rnd Ihr pr.nr.iunc of the Montage and the \ote arc ~Ieclarrd to F?c ,cycrahlc. I 16. Bormwcr. Cop}. Bormwcr shall hr furnr,hr.l c.mforntrd copy of the \otr .rnd of this Mortgage at the time .~t c~ectrticin ar after rc~ordation hereof. ~ 17. Transfer of the Pmpert}~; :~ssumplion. 1f all .+r am o:+rt of the Pmprrty or an intcrcst therein is sold or transferred M• Horruwer without I-rndirti prior written cunsrm. rscludine (:r? rtes creation of a lien or cncumhrancc suhordinate to z this vtartgage. Ihl the creation of purrhasr manic .ccnrit~ mtrrest for hotrsehald appliances, tcl a transfer by devise. i descent ar h}• ??peration of l:n+ upon the death of a i.+int tenant or (d? the Brant of am leasehold interest of three years or less not rnntaining an option to purchase. Lender m:+s'. at I.rnder's opti~?n. declare all the sum, secured h}• this Mortgage to be immediately due and pa}:+hlr. Lender shall hays waived such option tt? accelerate if. prior to the sale or transfer. Lender and the person to whom the Property is tx• 1?e sold +•r transferred reach agrecmrnt in writing that the credit of such person is satisfacton• to Lender and that the intrre,t payahlc on rtes wins xcurcd h}• this Mortgage shall be at such rate as Lender shall request. If 1 ender has waived the option to acceler-,rte prt.yidid in this paragraph 17. and if Borrower', successor in intcrest has executed a written assumption agreement accepted in writing h}• Linder. Lender shall release Borrower from all obligations under this Mortgage and thi Notc. _ if Lender exircids such option to accelerate. Linder ,hall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Snch notice shall provide a period of not less than i0 days from the date the notice is mailed within which Borrower ma}• pa}• the sums declared due. if Harrower faik to pas such sums prior to the expiration. of such period, Lender may, without further notice ar demand tat ltormwer. im-ake an} remedies permitted h}• paragraph 1 R hereof. NoN-Utvtt=oRt?t Covt=_Nw•rs. Borrower and Lender further rnvenant and agree as follows: z 18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any coy-etaant or agreement of Borrower in this !1ortgage. including the cor.~enants to pay when due any sums secured by this Mortgage, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action i required to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower, by which such i breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may tresWt in acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Pmperfy. 71te notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding - f the non-existence of a defatrN or any other defense of Borrower to acceleration and forecbsure. if the breach is not cored on or before the date specified in the notice. Lender at Lender's option ma}• declare all of the sums secured by this Mortgage to be s immediately due and pa}able without further demand and may foreclose this Mortgage by judicial proceedi~. Lender shag be entitled to collect in such proceeding all expenses of foreclosure. including. but not limited to, reasonable attorney's fees, and costs of documentary evidence. abstracts and title report. 19. Bormwcr'. Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time 1 BOOK JciU PAGE - _