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Home My WebLink About0412 ~L ~V t • •1~, ~ codex's ssritton agreement or applicable law. Borrower shall pay the amount of all mongage imur:utce premiums in the manner pn»•idect under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7. with intcrcct thereon, shall become additional indehtednesc of llornnser sec++red M• this Mortgage. Unless Born?srer and 1 ender agree to other tcrnts of payment, such am?a+ntc.hal) be payable upon notice from Lender to Barn?wer rcyuesting payment thereof. and shall hear interest fmm the Date of dishursemcnt at the rate payable fmm time to time un outstanding principal under the Note unless payment of interest at such rate would he contrary to applicable lase. in sshich cvcm such amounts shall hear iMCrc 1~ the highest rate permissible under applicable last. Nothing contained in this paragraph 7 shall require Lcndar'~p;ifttit~~X expense or take any action hcrcundcr. . 8. Inspection. lender may make or c:?++se to he made rcaconahle entries upon and inspections of the Property, provided that Lender shall giva; Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9, Condemnation. The prcx-eedc of any award or claim for damages, direct or a?nccquential. in connection with any condemnation ar other taking of the Property. or part thereof. or for conveyance in lieu of condemnation, arc hereby assigned an+l shall t?e paid to 1.endcr. In the event of a total takine of tl+e Property, the proceeds shall he applied to the toms secured by this Mortgage. with the erects. if am•. paid to $orrower. In tFie event of a partial taking of the Property, unlecc Borrower and Lender otherwise agree in w•ritinft. there shall he applied to the sums secured by this Mortgage such proportion of the proceeds as is cyual to that proportion which the amount of the sums secured by this ~lortgagc immediatch• prior t+? the date of taking hears to the fair market value of the Property immediately prior to the Jate of taking. with the balance of the pmc-ceds paid to Bormwcr. If the Amperty is abandoned by Bormwcr. or if. after notice M• Lender to Borrower that the rnndemnor offers to make an award or settle a claim for damages. Bormwcr toile to resprnd to Lender within ZO days after the d:+te such notice is mailed. Lender is authorized to collect and apph• the proceeds. at Lender's option. either to restoration or repair of the Propertl• or to the sums secured by this Mortgage. Unless Lender and Bormwcr otherwise agree in svritinL. any such applicatirn of proceeds to principal shall not extend or pcxtpone the due Jate of the monthly installments rrferred. to in paragraphs 1 and 2 hereof or change the amrnmt of such installments. lb. Borrower Alot Released. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any sttcceswr in interest of Borrower shall urn operate to rclcau, in any manner. the liability of the original Borrower and Borrower's suecessorc in interest. Lender shall not hc' required to commence proceedings against each successor or refuse to extend time for payment or otherxs•ice modifi• amortization of the sums secured by this Mortgage by reason of am• demand made M• the orieinal Bormwcr and Harrowers successorc in intcrcct. 11. i:orbearance by i.ender Not a Wainer. Anv fort?carance hs• I ender in exercising am• right or remedy hereunder. or otherwise afforded by applicable law. shall not he a waiver o.f or preclude the exercise of am• such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges hs• Lender shall not he a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to am• other right or remedy under this Mortgage or afforded by law ar eyuity. anJ may lx exercised concurrently, independenth• or successiseh•. 13. Successors and Assigns Bound; ]oint and Several Liability; Captions. The covenants and agreements herein contained shall hind, and the riehts hereunder shall inure to, the respective succeccorc and assigns of Lender and Borrower. subject to the pre?visions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this ;lortgage are for convenience onh• and an; not to l,e used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner, fa) any notice to Harrower provided for in this Mortgage shall he given h}• mailing such notice by certified mail addresu:d to Borrower at the Property Address or at such other address as Harrower mas_• designate M• notice to Lender as provided herein. and ' thl am notice to Lender shall txx given by certifimd mail. return receipt rcy++ectcd. to 1 coder s address stated herein or to wch other address ac Lender mac designate by notice to Horrosver as pns•ided herein. .4ny notice provided for in this Mortgage shall Fx deemed to have been given to Harrower or 1 ender .nc~n given in the manner designated herein. - 15. Uniform liortgage; Governing Law: Senerabilih•. This form of mortgage combines uniform rnsenants for national use and non-uniform covenants with limited variations by jurisdiction to consti(ute a uniform secorits• instrument covering real property. This Mortgage shall he governed by the law .,f the jurisdiction in which the Property is located. In the ~ event that any provision or clause of this Mortgage rr the \ote conflicts ssith applic:+hle law. such rnnflict shall not affect +.then pn?s•isions $f this Mortgage or the Vote which can 1?e given eQect ss•ithout the conflicting provision, and to this end the prosisiuns of the Mortgage and the tiote arc declared to F?e severable. 16. Borrower's Copy. Borrower sh:dl t?e furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Propettn; Assumption. If all or ant part of the Pn,perty or an interest therein is sold or transferred by Bormwcr without Lenders prior written consent. cscluding (:+l the creation of a lien or encumbrance subordinate to this Mortgage. thl the creation of a purchase mones• cecuritc intrrest for household appliances. le) a Transfer M• devise. descent or ht• operation of law upon the death of a Ioint tenant or (d? the grant of any leasehold interest of thrc~c: years or less not containing an option to purchase. Lender mas•. at I-ender'. opuon. declare all the sums secured M• this Mortgage to be immediateh• due and payable. !.ender shall has•e w:uced such option to accelerate iC prior to the sale or transfer. Lender and the person to whom the Property is tc? be sold or transferred reach agreement in writing that the credit of such person is satisfacton• to Lender and that the interest payable on~the sums xeured by this Alortgage shall he at such rate as Lender shall request. If Lender has waived the option to accelerte provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreement accepted in writing M• lender. Lender shall release Borrower from all obligations under this Mortgage and the Note. if [.ender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in acrnrdance with paragraph 14 herec+f. Such notice shall provide a period of not less than 10 days fmm the date the notice is mailed within which Born?wer may pay the sums declared due. If Bormwcr fails ro pap such sums prior to the expiration of such period. q Lender tuay. without further notice or Demand on Borrower. invoke any remedies permitted M• paragraph 1 R hereof. 1 Nox-UIVIFORAt COVHNANTS. Borrower and Lender further rnvenant and agree as follows- # I8. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or agreement of Borrower is this Mortgage. including the covenants to pay when due any sums secured by this Mortgage, Lender F 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 Borrower, 6y whkb snob ' breach must be cored; and (4) that failure to cure such breach on or before the date specified in the aotke may result in acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property. The notke shall further.inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the aon-existence of a defauk or any other defense of Borrower to acceleration and foreclosure. If the breach is oat cored on or before the date specified in the notice, Lender at Lender's option may declare aq of the sums secured by this Mortgage to be imotedhtely doe and payable without further demand and may foreclose this Mortgage by judicial proceeding. Leader shall 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. I9. i]orrowlr'6 Right to Reinstate. Notwithstanding lenders acceleration of the sums secured by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time 8001( PAGE ~2 • _1