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Home My WebLink About1352 I.cndcr's written agreement or applicable law. Horrowrr shall pay the amount of all mortgage insurance premiums in the manner pruvrdrd under paragraph 2 hereof. Any amounts disbursed by 1-cndcr pursuant to this paragraph 7, with interest thereon, shall become additional ' indrhtrdnrss of Horrower secured by shit Mortiagc Unless Horrowrr and Lcndcr agree to other terms of payment, wch amounts shall he payahlc upcm Warier from 1 cndcr w Hurrc+wrr rcyucsting payment thereof, and shall hear interest from the ' date of dishurscmcnt at the rate payahlc from time to time nn rnHstandinR principal under the Note unless payment of ~ interest al such rate would he contrary tc+applicahle law, in which event wch amounts shall hear interest a1 the highest rate permissihk under applicable law. Nothing rnntained in this paragraph 7 shall rcyuirc Lender to incur any expense or take any action hereunder. 8. Inspectbtt. Lcndcr may malt ur cause to he made rcasonahlr entries upon and inspcclionc of the Property, provided that Lender shall give Borrower notice prior to :my such impcctiun specifying « asunahle cause therefor related to Lender's intrrrct in the Property. 9. Condemnatbn. The pnxeedt c+f any award ur claim for damages. direct nr cunseyuential, in rnnnection with any condemnation ur other taking of the Property. or part thereof, or for conveyance in lieu of condemnation. arc hereby assigned and .hall t+e paid to Lcndcr. In the even! of a total soling c+f the Property. the pn+ccrdc shall he applied to the wins secured by this Mortgage. with the recess, if any, paid to Harn+wrr. In the event of a partial soling of the Property, unless Horrowrr and Lender c+therwisr agree in writing. then shall he applied to the sums secured by this Mnrtgagr such proportion of the proceeds ac i? cyan) to that proportion which the amount of the rums srcrrred by shit Mortgage immediately prior to the date of taking heart Io the fair market valor of the Property unnxdratcly prior Ic+ the date of soling. with the balance of the proceeds paid la BofrowCf. If the Property is abandoned by &+rrowrr, ur if. after notice by Lender to Borrower that the condemnor offers to make :m award ur settle a claim far damage., Br+rrr+wcr fails to rrspr~nd N. I cndcr within if) clays abet the d:rtc such notice is mauled. Lrndrr i. authorised to collect and apply the pn+crcds. at I.ender't option. either to restoration or repair of the Property or to the sums srcurcd M• shit Mortgage. llnies. 1 cndcr and Horrowrr otherwise agree in writing. any tuck application of proceeds to principal shall not extend ur pc+stpc+ne the due date of the mrn?thly installmenh referred to in paragraphs 1 and 2 hereof or ch:mge the amount of such installments. 10. Borrower Not Released. hstcnsinn of the time fur p:?yment nr modification of amortiration of the sums secured by Ihn•Murt~age grained by Lcndcr to any wcccssor m interest of Hc?rrowcr shall not operate to rclcacc. in any manner. the liability of the original Horrowrr and Borrower's succeswrs in imerett I.rnder shall not F+e reyuired to commence prucredingt against such successor or refuse to extend trine fur payment ur otherwise mcxlify amorti7alion of the saint srcurcd M' this Mnrtgagr h~• reatcm of am• demand made by the uriernal Horruwer and Horre+wer's weer+wrt in interest. 11. Forbearance by tender'.Vof a Waiver. Ans IorF•e:u:u+ce by Lcndcr in e+cercising :rm• right or remedy herenndcr. or otherwise afforded by applicable law, shall not hr :r waiver of ur preclude the c~ercisc of am• +uch right or remedy. The procu«ment of insurance nr Ihr payment of talcs ur other been ur charges by !cndcr sh:dl not fx- a waiver of Lender's right tx+ accelerate the maturity of the indebtcdnrss srcurcd by this Mortgage. 12. Remedies ('umulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or ryuity. and may F+e rxcrcrud concurrrmly. independently or wccestis•rl)• 13. Successors and Assigns Bound: Joint and Several Liability; ('aptbns. 'll?r covenants and agreements herein contained shads hind, and the rights hc«under shall inure to. the rr+prct?vc snccrssun and assigns of.l_cndcr and Borrower. subject to the provisions of paragraph 17 hereof A!I awenanh and :?grcemcnts of Rorr:rover shall Fx joint and several. The captions and headings of Ihr paragraphs of This Mortg:age arc fur cunvcnrence only and are nut to txx used to interpret or define the provisions hrrcof. 14. Niotice. Except far any nosier reyuired under :rpplicahlr law to l+c given rn another manner. fa? :rny notice to Horrowrr provided for in this Mortgage shall F+e grven by mauling sorb nuhcr by certified mail addressed to Hurnra'cr at the Property Address or at such other address as Burrower inns- dcsit;n:rte by notice to I.endcr as provided herein, and Ibl am• notice to Lrndrr that) tx grvrn by cert?fied mail. return receipt rryuested. to I ender'. address slated herein or to such other address as Lrndrr may designate by notice to Borrower as pr,n•ided hrrcin. Any notice provided far in this Mortgage shall hr deemed to have been given u+ Borrower or 1 cndcr w'hcn given in the manner designated hrrcin. 1 S. lJnitorm Mortgage; Governing I.aw; Seterabilit~. This form of mortgage combines uniform covenants for national ux and non-uniform covenants with limited variations by jurisdiction to constitute a ur»form security instrument covering real property. The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. The foregoing xntence shall not limit the applicability of federal law to this mortgage. In the event that any provision or claux of this Mortgage or the i r Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given efTect without the conflicting provision, and to this end the provisions of the Mortgage and the Note arc declared to be xverable. ' 16. Borrower's Copy. Burruwcr shall hr furnished :r cunG~rmcd ropy ..f the Notc and of thrs Mortgage at the time of execution or after rrcordatiun hereof. 17. Transfer of the Property; Assumption. If all or am part of the Property or an interest therein is sold or transferred M• Burruwcr without Lcndrr'c prior written convent. rsrluding t.rt the creation of a lien nr cncumhrance whonlin:rtc to this Mortgage. (hl the creation of a purchase money sccuritc~ interest for household appliances. !c1 :r tramfer h}• devise- dcu:cnt ar by operation of law upon the death of :c joint tenant ur (dr the grant of ans Icaschold interest of three vran or lest not containing an option Ic+ purchase. I ender miry. at 1 cndcr'~ ~~ptum. declare all the sums secured by this '.Mortgage to F+e rmmrdrately due and payahlc. Lcndcr shall have w;uved such option to accelerate if. prior to the sale or transfer. Lender j and the person to whom the Property is to he tc?Id or transferred reach agreemrm in writing that the credit of such person i is satisfactory to Lcndcr and that the tote«st payahlc on the sums secured by this Mortgage shall F+e at such rate as Lender t shall reyuesl. If Lender has waived the option to accrlrrrtc provided in this paragraph 17. and if Borrower's wccestor in enterers hat executed a written astumphon agreement accepted in writing by Lender. Lender shall release Borrower from all i obligations under this Mortgage and the Note- If Lender exercises such option to acceler-.rte. 1 cndcr shall mail Borrower notrce of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of nut less than 30 Jays from the date the notice is mailed within which Born+wer may pay the sums declared due. If Barrowcr taut. to pay wch wins prior to the expiration cif such period. Lcndcr may. without further notice nr demand tin Horrowrr, rnvolr any remedies permittca M• paragraph IR hereof. t Nor-UytFOR*`t Covt=~~trrs. Borrower and Lender further covenant and agree as follows: 18. Acceleration: Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or agreement of Borrower in this Mortgage. including the cotenants to pay when dot any .urns secured by this :Mortgage. [.ender a prior to acceleration shall mail notice fo Borrower as prodded in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower. by whkh 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 acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. The notice ' shall further inform Borrower of the right to reinstate after acceleration. and the right to assert in the foreclosure proceeding the non-existence of a default or anv other defense of Borrower to acceleration and foreclosure. If the breach iS not cured on i or before the date specified in the notice. lender at Lender's option may declare all of the sums secured by this Mortgage to be A immediately due and payable without further demand and may- foreclose this !Mortgage b)• judicial proceeding. Lender shall be entitled to collect in such proceeding all expentes,of foreclosure, including, but not limited to. reasonable attorney's fees. and costs of documentary evidence. abstracts and risk reports. 19. Borrower's Right to Reinstate. '`otwithstand?ng 1-ender. acceleration of the sums secured by this Mortgage. Borrower shall have the right to have an: proceedings tram h) Lcndcr to rnforrt this Mortgage discontinued at am' time ac=ne ~ PAGE a ~y _ _ • ~ 3 ~ t - "3. - . ~~Y. 'Y~ _ k