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Home My WebLink About0869 4~ • , Lender's written agrcetrtent or applicable law. Bolgp+~r aU Qay tl}e amount of afl mortgage insurance premiums in the manner provider! under paragraph 2 hetrof. r , t , Any amounts dicMtrsed by I.tnder pursuant 1~0 _l is paragra?Mwith interest thereon, shall become additional indebtedmess of Borrav?rr secured by this Mortgage. Unless Borrow•cr and I.rnder agree to other temps of payment, such arrtottnts shall be payable upon nutlet from lender tq Borrower regttcctinR payment thereof. and shall bear interest from the date of disbursement at the net payahk from time to time on outstanding principal under the Note tMku payment of interest at such net would be contrartr to applicable law, in which event;uch amounts shall liar interest at the highest rate permim~bk tinder applicable law. NMhing contained in this paragraph 7 shall require [:ender to incur any expense or take any sction hereunder. s. alectMa. i.ertder may make or cat+se to be made rcasortabk entries etpon and insptcliorrs of the j'Mpeny. provided that Lender shall give Borrower novice prior to any such inspection specifying reasonable cause therefor related to Fender's interest in the Properly. Ca~iewwgtiow, The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or pars thertof, or for conveyance in lieu of conr~erm~ratiott, hereby stnigned and shall be paid to Leader. ~ r : ~ in the evert of a total taking of the Properly. the proceeds shall be applied to the sums aecttred by Mis Mortgage. with the exoest, if any, paid to Borrower. In the event of a portal taking of the Property. unless Borrower and Larder otherwise agree in wrritirtg. there shall be applied to the sums secured by this Mongage such proportion of the proceeds ss is equal to that proportion which the amount of the sums secured by this Mongage immediately prior to the date of { taking bears to the fair market value of the Proptny immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. t if Nee Properly is ahandoned by Borrower. or if. after notice by !.ender to Borrower that the rnndemnor offers to make an av?~ard or settle a claim for damages, Borrower fails Io respc?nd to Lender within 30 days alter the date such notice is ~ mailed Lender is authorized to tdkct and apply the proceeds. at lender i option, either to restoration or t^epair of the Properly or to the sums secured by this Mortga~tt. 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 of such installments. s 1t1. IMtfl/wp ~Iot Rekater, Factension of the time for payment or modification of amortization of the wins sectrted s by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. l_tnder shall not be required to commence Prooeedin8s against such successor a r+eftese 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 intereu. ' i1. )Foteearawc~ er i.ewier loot. Wsher. Any forbearance by lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law. shall not be a waiver of or preclude t:re exercise of any such right or remedy. The proctrremtnt of imsunnce:~r the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's i right to acccknte the maturity of the indebtedness secured by this Mongage. 12. Rewreiies Ctrmrh~tivr. All remedies provided in this Mongage arc distinct and cumulative to any other right or remedy under this Mortgage or aRorded by law or equity, and may be exercised concurrently. independently or successively. 13` Soeeesaas awl Assigns lsoswi; .!clot awtl Several I3abitifr; CapMoas. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender attd BaMrower. wbject to the provisions of paragraph 17 hereof. All rnvcnants and agreements of Borrower shall be joird and several. The apCans and headings of the paragraphs of this Mongage are for convenience only and are not to be teed to interpret a define the provisions hereof. t4. NNite. t?ucept for any novice required under applicable law to be given in another manner, (a) any rtotiee to ` { Borrower provided for in this Mongage shall be givrn by mailing such notice by certified mail addressed to Borrower at t the Property Address or at such other addrtss as Borrower may designate by notice to Tender as provided herein, and (b) any notice to Lender"shall he given by certified mail. return receipt requested. to Lender's address stated herein or to wch other address as Lender may designate by notice to Borrower as_ provided herein. Any notice provided for in this Mongage shall be deemed to have been given to Borrower or Lender .when given in the manner designated herein. 1S. Uaifora Mortgage; Govtrairrg I.aM; Severability. This form of mortgage combines uniform covenants for motional 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 Iht Properly is located. In the . event that any provision a clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Morlgage or the Note which can be given effect without the conflicting provisiom. and to this F end the provisions of the Mortgage and the Note are rkclarcd to be severable. If. iionswer's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mongage at the time of execution or after recordation hereof. 17. Trawtfer of tic Pro~erlr; Aswrwptiow. If a!I or any pan of the Properly or an interest therein is sold or transferred by Borrower without tenders prior written consent. excluding (ai the creation of a lien or encumbrance subordinate to this Mongage. (b) the creatrat 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 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 colt or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the intere.t Fayable on the sums secured by this Mortgage shall bt at such rare ac Leader 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 by Lender. Lender shall release Borrower from all obligations under this Mongage and the'Note. If Lender exercises such option to accelerate, lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the daft the notice is mailed within which Borrower may pay the stuns r.xlared due. If Borrower fails to pay such stems prior to the expiration of such period, Lender may, without funkier notice or demand on Borrower. invoke any remedies permitted by paragraph IR hereof. I f Neer-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as fellows: ~ li. Accderatisw; Rerwerks. Esce}t as prorhkr iw pragra'Ir 17 eersot. tr'oa iorrowers breach of awy coreaartf ar agretwreat of >sotr~swer 1• tNs Mortgage. hxls~rrR the coretaats to pr whew else oar sears ttecared by tbfs MortlCaRe. i.ewrer prix N atreieratiow shall rwaN aotite to torrower as provided iw pragraplr 14 bereol spccNriag: (1) the brraci:121 the sctiow ragwieei b cane swci itsaci;l3) s dale, wet less thaw 30 days !roar the date tie aofke b waged to Rorror.er. by whkh sacs ` hseach Twat ee ems awl (q that faibre to core street ireaci oa or eetore the dots speeiRer h the wotics way resaN b acceleratiaw el the swas secwed br ells MottgaRe. loreelosarr er jsdkial p~oceeriag awl sale et tie Property. lire allies. stale /artier iwtetra Borrower of the right to rsirWMe alter seeelerMiow sad !ie right m srerl b the toreelastrrs proeee~ag tie woo-e:istewee of a detaail er oar otter defewse o1 Borrower to scceleratiow awd toredowre. K the bread is art caged ow or betste tie rate getiitr i tie aotke. Lewder st !.cadet's aphra oar reehue art a< the stoat seerKatl iy~ti4 MorlRaRt io M iwlae~alellr rtre awe parable withoat ltrrtier demand and rosy foreclose tilt Mortgage h' jrrrkW pr~sceeriag. /.endtr• chaN ee eaiWlei N eaiaet fir steel prreesdiaR sN tx'eases of forecbssn. Mcla~diag. eat act Waiter ter. rsatoaable att+xerY's.fees. aad cstb at racrratealarr eridewce. sestracts aad silk reports. 1S. ilsrtowet's Rlgit is Reiattate. Novwithstandmg Lenders acceleration of the sums secured by thy: Mongage. Borrower shall have the right to have any proctrd~nes bey~n by Lender to enforce this Mortgage discontinued ar any time 6QOK JJ~ -PAGE C7V0 -