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Home My WebLink About0887 • r ~ ~ ~ ~ ~ ~ Jtl ~ t': 1 ruder'. wrYttcn agreement or applicahle law. Born~s+cr shall pay the amount of all mortgage inwr.utrc premiums in the manner provuled under paragraph 2 hcrcof. :1 m• :unounK dishursed by Lender pursuant to this paragraph 7. with interest thereon, shall hecontc :?dditional imleMcdness ,~I• Itrrra+ser ucurcd M• this \lurtgagc l'uless Rorras+cr an.l 1 cn.ler agree to ?,ther terms of payment. such amounts shall he pavahle ulxat ntdirr front 1 ender a• Borrower requesting payment thererf. and shall hear interest fn,m the date of dishurccment at the rate pa~•ahlc from time to time on outst:?ndine principal under the Note unless payment of intcrea at such rate +vould t+c contran• to applicable law. in ++hirh event such amounts shall tear interest at the highest rate pcrmissihle under applicable laa•. Nothing contained in this paragraph 7 shall require I ender to incur any expense or take .uw action hereunder. 8. 'Inspection. 1 ruder may make or rune to t+e made rcasonahlc entries up.~n and impcctions of the Prupert}•. pnn•ided that 1 ender shall give Born,wer notice prior to any such inspection specifying reasonable cause thcref~+r related to { ender's utterest in the Pmpcrty. 9. Condcmnatbn. The pn•cecds of arse :ovard or claim fur damages. direct ur ronscyuential. in connection with any cundcmnation ar.~ther taking of the Proptirly. ar pan thereof. or fur conveyance in lieu of rondcmnation.:?rc hereby ascicncd ;~n.l shall he paid t?, l ender. In the event of a total taking of the Pmperty. the t~n,reeds shat! ttc :?pplicd to the sums secured by this Mortgage. +rith the excess. if any. paid to Aorrrwer. 1 14` event of a partial taking of the Propcrt}•. unless Borrower and lender otherwise agree in writinE•. there chaR'hZ 3p~l~ett m the sums secured by this Mortgage such pn,partion of the prcx:cedc as is equal to that pmp.,rlion which the amount of the sums secured M• this Mortgage immedi:?tcly prior to the dale of ~ taking tzars to the fair market ralue of the Property immediateh• prior to U?c Date of taking. with the balance of the proceeds paid t.• Borrower. Tf the PR,perty is abandoned M• Aormwer. or if. after notice M• I ender to Burrower that the condemnor offers to make an aw;?n1 ~:r settle a claim for d:unaf:es. Borrower fail. to rrsp.utd to 1 cndcr within Z(! days after the date such notice is mailed. l-en~lcr is authorized to collect and apply the pn,cccdc. at I.cnder ~ option. either ro restoration or rep:+ir of the Propcn}• or !o the sums secured by this Mortgage. tlnlcss t.cnder and Borrower othcrsvise agree in +criting. anv such application of proceeds to principal shall nut extend ar p?,stponc the dt?e date of the monthh• installments referred to in paracraphs 1 and 2 hcrcof or ch:utgc the amount of such installments. 10. Borrower Not Rdeaced. f?xtension of the time for payment or modific:?tion of amortization of the some secured by this Mortgage gr.+ntcd by Lcndcr to any successor in interest of Bormwcr shall not operate to release. in any manner. the liahilit}• of the original Burrower and Borrower's successors in interest. Lcndcr shall not he required to commence pr.,cee.lings against each successor or reface to extend time for payment or othcrs+•ise mtxlify amortization of the sums secured by this Mortgage h.• reason of am• demand made h+' the urieinal Borrower and Burrowers successors in interest. I1. Forbearance by [.ender \ot a Waiver. Anv forbearance M• Lender in exercising any right or remedy hereunder. or ~~thers+•ise atTurded by applicahle law. ,hall nut ttc a waiver of or preclude the exercise of am• such right or remedy. The procurement of insurance ur the payment of laze. or other liens or charges h}• Lcndcr shall not Fxr waiver ~~f Lender's right to accelerate the maturity of the indebtedness sr_ured by this Mortgage. 12. Remedies Cumulative. All remedies pnvided in thi. ~tortgagc arc distinct and cumulative M ans• other rieht or remedy under this :llorte:?gr ur afforded by law or cytuh. and may ttc exercised runcurre~th•. indepcndentl}• or snrcessis•ch~. 13. Successors and Assigns Bound; Joint and Several l.iabilih; Captions. The crn•enants and aereenunh herein contained shall hind. and the riehts hereunder sh:dl inure to. the re.pertis•c successors and assigns of Lcndcr told Borrower. subject to the pmvisiun. of paragraph 17 hcrcof. :111 covenants and agreements of Borrower shall tte joint and several. The captions an.l headings of the paragraphs of this Mortgage arc fur convenience only and arc not to t,c aced to interpret or define the pmx•icions hcrcof. 14. notice. Except ic,r am• notice required under applicahle law to he given in another manner. fat any notice to Burrower provided for in this 14fortgage shall h?; given by mailing such notice by certified mail addresud to Borrower at the Propem• Address ur at such other address as Born+wer max• designate by n.~tice to tender ac pn,vided herein. and flit am' m~tice to I ender shall tx given M• certified mail. return receipt requested- tr, 1 ender'. address stated herein or to such other address as Lender may designate M nutirc to Borru,ver as pmvided herein. Ans• notice provided for in this Mortgage shall Ix; deemed to have been given to Borrower or 1 ender when given in the manner designated herein. I5. Cnifonn lfottgage; Covernin~ Law; Severability, This farm of mortgage combines uniform rnx•enantc fur national use and non-uniform covenants with limited variations by juri.diction to ronctinrte a uniform security instrument coxering mil property. This Mortgage chill t,e gocented by the law of the jurisdiction in which the property is located. In the went that am' provision or clause of this Mortgage or the \ote contli:ts with applicahle iaw. such conflict shall not affect i i { other provisions of this !41orl~acr or tfie \ote +shirh ran hr given elfect without the conflicting provision. and to this end the provisions of the '.1TortEaec and the \ote arc declared to he uverahle. i 16. Borrowers Copy. Borrower shall he furnished a conformed ropy ul the Note and of this ~1ortgage at the time I of cxrrution or after recordation hereof. 17. Transfer of the Propettc: Asstrmption. If all or anv part of the Pn~perty or an interest therein is sold or transferred hs• Burrower without Lender's prior written c.insent. excluding (a? the creation of a lien or encumhranee wtxirdinate to this Mortgage. (h) the creation of a purchase money .erurity interest fur household appliances. (c? a transfer hx• devise. descent or by uper:?tion of law upon the death ~~f ;r joint tenant or Id? the Brant of am' leasehold interest of three years or lets not containing an option to purchase. 1 cndcr may. at I ender'. opti.~n. declare all the sums secured hx' this :Mortgage to be immediateh• due and payable. 1-cndcr shall have waived such option to accelerate if. prior to the sale or transfer. Lender ~ and the person to whom the Property i; to be sol.l or transferred reach agreement in wrrUng that the credit of such person i is catisfarton• to Lcndcr and that the interest payable on the sums xrured by this '.Mortgage shall t+e at such rate ac i-ender 1 ~ shall request- If Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower's successor in interest has executed a written assumption agreement accepted in writing h}• Lender. Lcndcr shall release Borrower from all obligations under this Mortgage and the Note. ~ if lender exercixs such option to acreleratc. Lcndcr shall mail Burrrn+er notice of acceleration in accordance with paragraph 14 hcrcof. Such notice shall provide a period of not less than 3(1 days from the date the notice is mailed within ~ which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of each period. # I-ender may. without further notice or demand on Borrower. im•oke am' remedies permitted by paragraph 1R hereof. 4 - - ~ t Nom-LJ~troRrt CovExe~:TS. Borrower and Lender further covenant and agree as follows: ' E 18. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or agreement of Borrower in this ltotigage. induding the covenants to pay when due any sums secured by this Mortgage, Lender prior to acceleration shall mail notice to Borrower ac provided in paragraph 14 hereof specifying: (1) the breach; (2) the aMbn 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 breach must be cured: and (4) that failure to cure such breach on or before the date specified is the notice may result in accekration of the stints secured by this Mortgage, foreclosure by judicial proceeding and sale of the Properfy. 71te notice shall further infot•m Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proctedittg the tton•ezictence of a default or anv other defense of Borrower to acceleration and foreclosure. tf the breach is not cured on ~ or before the date specified in the notice. Ixnder at Ixnder's option may declare all of the sums secured by this Mortgage to be E immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall i 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 reports. E 19. IBorrower'6 Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage, s Borrower shall have the right to have any proceedings ttegun by Lcndcr to enforce this Mortgage discontinued at any time i Boo Jul) PUCE W5 4 - "~..r K ~4