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Home My WebLink About0646 - - ~ ? ' i , ; ,l•I~ 1 enJer's written agreement or applicahle law. Nurrowtr shall pa} the amount of all mortgage imur;u+ct premiums in the manner pnwiJeD under paragraph 2 hereof. Am• amounts Di.hurseJ by Lcndcr pursuant to (life paragraph 7. with interest thereon. shall become additional in.hMedness of Burrower secured by this Mortgage. l'nlc.. Barn?wcr anD t tnJtr :+crrt a~ other terms of payment, such amounts shall 1?t payahlr up+?n notice from I ender k? Born?wer requesting pa}•mcnt thert+?f. and shall hear intrrest from the +latr of di.hurctmcnt at the raft payable from time to time on outstanding principal under the ~ote ante{s- ppayment of intcrcct at such rate would he contran• to applicable law. in which went such amounts shall hear i terbli ej •t ~ highest rate permissible under applicable laN•. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hcrcundcr. 8. Inspection. LenJcr may make or cause to be made reasonable entries ulxin and inspections of the Property. provide) that Lcndcr shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to 1-ender s interest in the Property. 9. Condemnation. The proceeds of am• award or claim for damages. Direct or consequential. in connection with any condemnation or other taking of the Property, ar part thereof, or for rnnveyance in lieu of condemnation. art hereby assigned an+l shall 1?t paid to i.endcr. in tttc event of a total taking of the Property. the proceeds shall he applied to the sums cccurtd by this Mortgage. with the excess, if any. paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Tender utherwist agree in writing. them shall he applirJ to the cams secure) by this Mortgage s+tch propt?rtion of the proceeds as is equal to that pmlx?rtiun 1+•hich the •amrnt~t of the sums secured h}• this \lortgage immediatrh• prior to the, date of taking heart to the fair market valor of the Propert}• immediatel}• prior to the date of taking. with the balance of the proceeds paid to Borrower. Tf the Property is abandoned M• Borrower. or if. after notice by Lender to Burrower that the condemnor offers to make an award or settle a"claim" fi?~ Jan+age~:'Borruwer-fails to resix?nd ti?"i enJrr within 't(1-dat_•s after-flit'-date-arch nuticr it- mailei. 1_cndrr is authorized to collect and apply the proceeds. at I.cndcr's option. either to restoration or repair of the Prop.•+ty or to the sums secure) M• this lfortgagc. LTnlesc (.ender and Borrower othert+•ise agrce in writinL. any such applirttion of proceeds to principal shall notlxtend or ptntpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of r such installments. 10. Borrower Not Releas~•d. Extension of the time for payment or modification of amortization of the sums secured by this lfortgage granted~hy 1-ender to am• successor in intrrcst of Borrower shall not opera(( to release. in any manner. the liability of the original Borrower and Borrower ~ successors in intrrest. Lcndcr shall not he required to commence pnxecdings against such successor or reface to extent time for payment or otherwise modify amortization of the sums secureD h}• this 1liortgage h}• reason of any demand madr M• the original Borniw•er ant Burrowers successors in interest. 11. Forbearance by Lender !~bt a Wai~'er. .An}• forhrarance M• Lcndcr in etercicing am• right or remedy hereunder. or otherwise affurdeD by applicahle law. shall nut he a waiver of or prechtde the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or <?Iher liens ur charges by 1-ender shall not he a waiver of 1-ender s right to accclcntc the maturity of the indchtedness serureD M• this Mortgage. 12. Remedies Cumulative. All remedies pmviJeJ in this Mortgage art Distinct and cumulative to any other right or remeJ}• under this Mortgage or afforDeD by law or rquit}•. ;mJ ma}• he exercistJ _•oncurrtnth•. independentlc or vtceessiveh•. 13. Successors and Assigns Bound: Joint and Seteral Liability; Captions. The rnvcnants and agreements herein containeJ shall hint. and the rights hcrcundcr shall inure to, the respective soccesx?rs and assigns of 1-ender and Burrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall. txx taint and teyeral. The captions and headings of the paragraphs of chic Mortgage are fur convenience only •rnJ arc not to he• used to interpret or define the proyicionc hereof. 14. 'notice. Except for any notice required under applicahle law to be given in another manner. fat any notice to Borrower provided for in this Mortgage shall he given by mailinL such notice by certified mail addressed to Brower at the Property AJdresc or at such other address as Borrower mav_ de.ignate by notice to Lender as provide) herein. and Ihi ant' notice to Lcndcr shall Ix given hs• certified mail. return receipt rcyuesteD. to I ender c address stated herein or to such other address as Lcndcr ma}' designate by notice to Borr+?wer as procideJ herein. Any notice provide) for in this Mortgage shall he Jecmcd to hays been given to Borrower or I.enDer when given in the manner Designated herein. - 15.- Uniform Mortgage: Gmerning i.aw•: SeverabiliN. This form of mortgage rnmhincs uniform a?venants for national ! ace anD oars-uniform awenants with limited variations M• jurisd!~tion tr constiurte a uniform ucurity instrument covering ~t real property. This Mortgage shall tx: governeJ M• the law of the juris.licti.m in which the Property is l+?cated. In the event that any provision or clause of this'11ortLage or the Note conflicts with applicahle law. such conflict shall nut affect ~ other pn?visiuns of this ;Mortgage ur the '.Vote which can he Lion etirct without the conflicting provision. anD to this end flit provisions of the Mortgage anD the \ote art JeclareD t+? he styerahle. 16. Born?wer's Copy. BOrrOwer shall he furnishc+l a c~+nformed copy of the Nutt anD of chic Mortgage at the time of execution or after rccurdation hereof. 17. Transfer of the Property: Assumption. If all rr am part of the Properly or an intrrcst therein is sold or transferred by Borrower without Lender's prior written consent. excluding tat the creation of lien or encumbrance subordinate to this Mortgage. Ih) the creation of a purrhast mange security interest for household appliances. Icl a transfer M• devise. ~ Descent or by c?peration of taw upon the Death of a joint tenant or (d+ the gram of any leas+hold interest of three years or less not containing an option to purchase. Lender may. at Lcndcr', optu?n. Declare all the sums secured by this Mortgage to be immeJiateh• due and payable. I ender shall have w:+iyed such option to accelerate if. prior to the sale or transfer. Lender and the person ro whom the Property is to be sol.l to transferreD reach agreement in writing that the creJit of such person is satisfacton- to Lender ;end that the interest pa} able on the sums secured hp this !lortgage 'shall he at such rate as Lender shall request. if Lcndcr has waived the optirn? to acrtlerge provideD in this paragraph 17, anD if Borrower's successor in intrrest has executeD a written Au+mption agreement accepted in writing by l ender. 1-ender shall release Borrower from all obligations under this Mortgage and the Note. if i_rnder exercises such option to accelerate. I ender .hall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a perio+l c+f not less than z0 Days from the date the notice is mailed within which Borrower may pay the sums Declare) dt:e. I( Born?wer (ails to pay such sums prior to the expiration of such period. LcnJer ma}•, without further notice or Demand on Borrower. in+•oke any remedies permitted by paragraph 18 hereof. Nox-UxtEOtent Covex!?xTS. Borrower and Lender further rnvenant 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 lfortgage. including the covenants to pay when due any soots 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 required to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Harrower, by whk6 such breach must be cared; and (4) that failure to cure such breach on or before the date specified in the notke~may testrlt in acceleration of the sums secnred by this Mortgage, foreclosure by judicial proceeding and sale of the Property. •iLe notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosnre proceeding the iron-existence of a default or any other defense of Borrower to acceleration and foreclowre. /f the breach is toot cored on or before the date specified in the notice, Lender at Lender's option may declare all of the snras secnred by this Mortgage to 6e immediately dne and payable without further demand and may foreclose the Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding aB expenses of foreclosure. including. but not limited to, ressonable attorney's fees. and costs of docornentatry evidence, abstracts and title reports. - 19. Borrower's Rigbt to Reinstate. Notwithstanding 1.enJer c acceleration of the sums secureD by this Mortgage. Borrower shall have the right to have any proceedings begun by i_ender to enforce this Mortgage discontinued at any time r t c~c~~ BOOKJt~O PA6E ~ 4 r~~._~, - - - r~- = t= -.w