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Home My WebLink About0379 i t • " ' I ~`t~ t i •I ender v wnucn agrrrmcnt or apphc.ihlc law. Ilurni++er shall pay the amount of all mortgage imur.utce premiums in the tnannrr pn+ridcd under paragraph 2 hereof. :1ny :unuunts• dishursrd by I.endrr punuanl to this paragraph 7• with intrrect thrrcan. shall I?rc++me additi+inal indrhhdnrs ++f Itarrcn+rr sccorcd M' this \lurtcagr. l'nlcs Born+arr :ut.l I ender :Igrre to other terms of pa}'ntcnt, such amc+unh sh:dl Ix payable upi+n notice tram I ender to &~rn+wer rcyuesting p:Iyment thercc+f. an+l .hall Isar interest from the 4 d;tr~ of dishursrmcnt at the rah payahk from time to time an outstanding principal under the ?doh unless payment of intrrea at such rltr Kuuld he cuntr:tn• a? applicahlc l:n+•. in which rvcnt such amounts shall hear inte~ect at the highest rate t prrmissihle under applicahlc laa•. T~uthing contained in this paragraph 7 shall require Lender to incur any expense Pr take any action hereunder. t 8. Inspection. Lcndcr may make or sauce to he made reasonahlr entries upon and inspections of the Property. provided j that 1 ender shall girt Borrower notice prior to am such inspection specifying rrasonahle cause therefor related to Lender's f intrre+t in the Property. f 9. Condemnation. The pn+creds of am• award or claim for damages. direct ur consequential. in connection Kith am• { condemnation ur other taking of the Property. ur part thereat, or for conveyance in lieu of rnndemnatiun. arc hercM• assigned and shall ~ paid to Lcndcr. In the scent of ~ total takinL of tln Ampert}•. the proceeds shall he applied to the sums secured M• .this Mortgage. with the es«-ss. if am•• paid to BormKrr. In the event of a partial taking of the Property. unlc~c horrYa~cr and i.ender OII1Cfwl,e agr~-~ in ++ritinL~. there shall he applied t+• the sums srcuntil by this Mortgage sash pmlk+rtiod of thc•pn+ceeds y as is equal to that proportirn which the amount of the sums .reared M• this ~lortgagc immediatdy prier to the date of taking I+ears~o thrfair market value of the Property immcdiatrl}• prior to the date of taking. with the halance of the prctcecds j paid t+. BOrrOKCf. + if the AroptTty is abandoned hr BorroKCr. or if. after notice M• 1 rndcr to Bornns•er that the condemnor offers to make t ;ut award ar settle a claim for damaT;rs. BOROKCr fail. to respond to I rndcr within 20 dare after the doh such notice is mailed. Lender is authorimd to callrct and apph• the pn•creds. at I ender'c option. Tither to restoration ar repair of the Property or to the sums err-cured by this Mortgage. l;uless Lender and Born+w'rr otherKice agree in +triting, any yu~h application of proceeds to princip:d sh:+Il not extend or pasrpune the dar date of the monthl}• installments rrfrrred to in paragraphs 1 and hereof ar ch:utge the amhunt of wch installn:^nts. 10. Borrower Mot Released. 1?xtcnsion of the time fur pacmcnt or modification of amortisation of the wms sccorcd by this Mortgage grtMCd by 1 Fndcr to•any succccsor in interest c+f Borrower shall not operate to release. in any manner. the liability of the original Born++scr and Borrower's sticcecsorc in interest. Linder shall not he required to cammencc pnx;redings against such wcceuor or refus+: to extend time far payment or otherwise mcxtif}• amortiratic+n of the sums sccorcd by this hortgage hs• react+n of am• demand made hr the arieinal Borrower and Borrc+u•rrs surcesurc in inters.!. ll. Forbearance b}' Lender lot a Waiter. Aar fartx::Irince hr Lender in exercising am• right or remrdr hereunder. or atherKice alTarded by applicable L•iw, shall not F+e a Kaiccr of ur preclude the esereisc of am such right or remedy. The prctcurcment of inst:rance or the payment c+f tares or c+ther liens :+r charges hr Lcndcr shall not t+e a ++airrr of I.endcr's f right n? accelerate the maturity of the indchhdnes se_urcd hs~ this ~lortgagc. - 12. Remedies Cumulatite. All remedies prurided in this \lortgagc arc distinct and cumulatirc to :uiv other right or remedy under this Mortgage'ur afforded hr law ur eyuin~.:uul may l+e e~erciced concurrently. independenth• or cucces,i+•rlr- 13. Successors and Ass'ry;ns Bound: Joint •rnd Seteral Liabilih; ('options. The corenams and aerrements herein contained shall hind. and the ri¢hts herctinder shall inner to. the recpectirc successor and assigns of Lcndcr and Borrower. srihjrct to the provisions of paragraph 17 hereof. All cotenants and aercements of Born.wer shall I+e joint and sercral. The captiun.:md headings of the paragraphs of this Mortgage are for rnnveniencc only and are rat to l+e used to interpret or dcfinr the pro+•icions hereof. i 14. Notice. Except far am• notice reyuirrd under applirlhle law to I+r given in another manner. fat ans• notice to Burn+w•cr pn+rideJ for in this 111ortgagc shall he given hr mailing ,ash notice by certified mail addressed to Bormwrr at the Property Adders or at such other address ac Harrower mac_ designate hr n++tire to I ender as provided herein. and - Ih) any Holier to Lcndcr shall I+r given M• certified mail. return receipt rcyucshd. tc+ I rndcr'. address st:drd herein or to ,uch other address as Lender may drsi¢nate M' notice to Borra++rr as pnicided herein. :env notice provided far in this Mortgage shall F+c de_med to hate hren given to Born+wcr ar I rndcr ++hrn gircn in the manner dcsign:ded herein. 15. ('niform ~tortgare; CmerninR Law; Seterobilih'. This f+~rnt of mortf:agc combines uniform covcn;utts far national nse and non-uniform Ccn•enauts with limited variations M• junsdicti~+n to conctiultr a uniform srcurih• instrument rnvering _ real property. This 1?tortgage shall t+r guvrrned ht the law r( the iuris+lirtion in which the Pmpert}• is located. in the r+'rnt that any pras•ISion or cl:wse of this Mortgage I~r the \ote aattlicts ,+ith applicahlc law, such conflict .hall not affect ~Ither pn++isium rf Ihic Murtcage or the Vote ++hich rut he given rtTect wi!haut the a+ntlicting pmri:i•~n. and to this ~ rnd the pra+•isians of the ~lurtgagr and the date arc +lrclared n+ hr sevcrahle. 16. Borrowers Cope. Borrrnrrr shall I+e funushed a ~~atfrnnrd copy ut the \oh and of thi; Mortgage at the time of execution ar after rrcurdation hereaf_ 17. Transfer of the Pmpeti}:Assumption. If :dl ar am pert of the Pn+perty nr an interest therein is sold or trancferrcd hr Borrower without l.ender~ prier written consent. culuding Ia? the creation of a iirn or encumhrancr whordinate to this Mortgage. thl the creation of a pur+hase manor securit+ interest far huusehuld appliances. /ct a transfer by devise. ~ descent or M• aprration of law upon the death +~f a i.~int tenant ar tdI the grant of :Im• leasehold interest of three years or less f nut containir. an option to purchase. I-cndrr ma+.:It 1 rndcr', r~ptian. dreiarc all the sums sccorcd ln~ this ~tartgagc to br !I immrJi;ihh dar and payahlr. Lrndrr shall hart waircd such option t~~ accelerate if, pricer t+. the sale or transfer. Lender k :Ind the person to wham ;hr Pn+pertc is tv he cold ar trancterrcd reach agreement in writing That the credit of such person a caticfaca+ry to Lcndcr and that the interest pacahle an the sums .:cured M• tfiis Mortgage shall he at such rate as Lender ~ ~ ,hall request. If 1 ender has Kaired the ap:ian tr+ accelerate p:m•idrd in this paragraph 17. and if Borrower i successor in interest has executed a w•riuen assumption agreement accepted in writing M• Lcndcr. Lender. shall release $orrower from all k obligations under this Murtg:+ge and the !+iotc. E If 1 rndcr r~ercisec such option to accelerate- I ender shall mail Burrower notice of acceleration in accordance Kith ~ paragraph 14 hereof. Such notice shall provide a pericxl of rat less than ?(1 days from the date the notice is mailed within I~ which Borra+ver nlay pay the wms declared dar. If Borax+rr fails to pa}• wch aims prior to the expiration of such period. f Lrndrr may. without further notice ur ckmand an Korruwer. in+•oke any remedies permitted M• paragraph I R hereof. f I Note-U:vtFOtef?t Cove=~i+!vTS. Borrower and Linder further rns•enant and agree as follows: ` i 18. Acceleration; Remedies. except aS protyled in paragraph 17, hereof, upon Borrower's breach of any cotenant or agreement of Borrower in this Mortgage. including the cotenants to pay when due any sums secured by this Mortgage, Lender prior to accekrotion shall mail notice fo Borrower n prodded in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3? a date. not less than 30 da}•s from the date the notice is mailed to Borrower. by which such breach mtrst be cured; and (4) that failure to cure such breach on or before the date specified in the notice may rrsdt in i acceleration of Ibe srrms 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 accekrotion and the right to assert in the foreclosure proceeding } the non-existence of a default or any other defertse of Borrower to acceleration and foreclosure. if the breach is not cared on ~ or before the date specified in the notice. Lender at Lender's option may declare all of the sums sccorcd by this Mortgage to be j immediately due and payable without farther demand and may foreclose this Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding a0 expenses of foreclosure. including, but not Umited to, reasonable attorney's tees, j and costs of docomentary evidence, abstracts and title reports. 19. Borrower's Right to Reinstate. Notwithstanding 1_ender c acceleration of the sums secured by this Mortiage. Borrower shall have the tight to have an}• proceedings hegttn by lender to enforce this Mortgage discontinued at any time 8tN1K~ PuE ~ ~O _ ~