The URL can be used to link to this page

Home My WebLink About0843 Lender's written agreement ar applicably l:,w. Iturrowrr shall p,ty the 3~i~t>iuf all mnr~:r' •~ncuran~~ premiums in the manner pruyideD unDrr paragraph 2 hereof. Any amuru,ts dishurscD by LenDyr p:nsuant to !his paragraph 7. with intcreat thcrron.. chill t+ccuntc aDDrtional ntdeMrJnrss of Burruwcr s,;cureD ha• this ~loniage. l.'ntess Burruaaer and I enDcr agree to other terms of payment, such ours+unh .hall F?r pa},able up.~n notice fro?m 1 rndrr t.? B,+rn?wrr reynesting p:a}•mrnt there++f.:wd shall hear intrr~ct from tFie .Life of Dishurscmcnt at the rate payable tram time to tune an nutctanding principal under the Notc anises payment of interest at such ntr woulD he cuntran• to applicable law,, in which event each amounts shall hear i ~>M lei beet rate permissihlc under applicable laav. Nothing cont:!inei in Chic paragraph 7 shall require T enter lu itni~,f :Ih)•` nse nr take .,ray action hrrcundcr. 8. Inspection. Lender may ma{.c ur cause to he made reacnnahly rntriec upa?n and inspectiunc of the Property, provided that Lender shall giyy Bormwyr notice prior to an1• saK:h incpcction specifying reasonable cause thcrcfur related to Lender's inirrcct in the Property. ~9, Condemnation. The proceeds of any award or claim for damagys, direct or concegttential, in rnnnection with any condemnation or other taking of the Properly, or part thereof, or for conveyance in lieu of condemnation. are hereby :tscigned ant ,hall hr paid to Lender. - In the ea•ent of a total taking of the Properly, the prcxeeDs shall he applied to the sums secured by this Mortgage. with the dress. if any. pail to Burrower. In the event of a partial taking of the Proper)}•, nnlecc Borrower and Lender a:herwicy agree in writing. there shall be applied to the sums securcD by this 1lfortgagc a,ch proportion of shy proceeds as is equal to that propnrliun which ehc amount of the sum; cr:urcd by this tilnrtgage immcdiatch• prior to the date of taking hears to the fair market vahre of the Properly immediately prior to the date of taking, with the balan~:e of the proceeds paid to Borrower. Tf the Property is ahandnne.l M• Borrower, nr if. after notice by ).ender to Borrower that the condemnor otters to makt~ an award nr settle a claim for Damages. Borrower fails to respond to I enter within 30 Da}-. after the date such antics is mailed. Tender is authorized to collect and apply the prnc.•rDc. at Lender's option. either to restoration or repair of the Property nr to the sums secured by this Mortgage. Untcss (.ender and Borroar~r otherwise agree in writine. am aach application of proceeds to principal shall not extend or paxtpone the due Jate of the monthly installments rrferreD to in paragraph. I anD 3 hereof or change the amount of such installments. 10. ~ Borrower Not Released. Extension of the time for payment nr mcxlification of amortization of the sums secured by this 'Mortgage granted by 1.enDrr to am• succeswr in (merest of Borrower shall not operate to relyasr. in any manner, the liahilit?' of the original Rorr:~+yer ant 13urrower's succeswrc in interest. LcnJer shall not he required to commence proceedings against such saccc~sor or refuse to eaten) time for pa}•mcnt or nthcncisy mndif}• amorlizatiori of the sums sccurrD by this I?•[nrtgage by rraxm of any demand made by the original Borrower and Borrower's succysaan in interest. 11: Forbearance by Tender Nof a Waia•er. •1m• forl?caa once ha Tinder in cacrcisinc am• right nr remedy hereunder, nr otherwise alforDcJ by applicable law. shall not he a waiver of or preclude the yaercisc of -any such rieht or remedy. The prncuremcni of incuranrr ur the payment of taaa~s or uthrr liens or charges by Lender shall not he a waiver of Lender's right to arrclrratc the maturih• of the indrhtcdnesc sr:ureD h}' this :1lortgagc. 12. Remedies Cumulative. All remedies pmaidcd in thin tllnrtgage are distinct ant cumulative to an}• other right or remcDy unJcr this Mortgage or atiorJrD by law rr eyuity.:,nD may 1?c raerciuD concurrently, independyntly ur succecsivcly. 13. Successors and Assit;nc Bound; Joint and Several i.iabilih; Captions. Thc rnvenants and agreements herein cnmainyD shat! hind, ant the riGhts hcrcunDer shall inure t:~, the resprctive succesuarc and acci¢ns of LcnJer and Borrower. subject to the pr.~?i.inns of paragraph 17 hereof. All coaenantc ant agreement. of Bnrroaa•cr shall he juin1 and sca•eral. "Ilre -options :u?d beatings of the paragraphs of this Mortgage are fur cc.nvenience only and arc not to he aced to interpret or Jrfinc the nrovisior~s irercof. 14. Notice. Except tar am• notice required unDrr applirahle law to hr. given in another manner. (at any notice to Burruwcr provided fur in this \iortga¢y shall he gia•cn h}• mailinc wch m?ticr ha rertifird mail aDdrrssrD to Borrower at the ProprrY}' ADdress or at such other address as Borrower ma•: Dcsr~~n:dr h} nuticr to I.enaer as provided hen:in, and th) am notice to Lender shall t+r given by certified mail. return r_•rr+pt rcyurstcJ. to 1 ender'. address stated herein or to wch other adders. as Linder may designate by notice to Born+wrr ac provided herein. .4ny notice prua•iJrd fur in this 'i ~lurtgage shall l?e Deemed tr? base t?rcn giacn to ilorr,+wcr c+r f enter whin given in the manner Designated herein, 15. Uniform 11ortRa~e: Gm~crnin8 Loa: Severability. phis f.+rrn of mortgage romhinrs uniform rnvenants for national ace ant rim-uniirrm covrnanss with limited variations by juris,!rctiun to :++nstitutc a uniform security inatnament rnvering ~ real property. This '.lforteacc shall he governed ha• the law ,+f the jurisJicUc+n in which the Property is located. In the _ rvcnt that :am• provisino or clause of this tllnrtgage .+r the \+,te conflicts with applicable law. such cnnfiicC shall not attest .+thcr provisions of this Morjgage ur the Nute aahich ;-an F+e Liven etTrct without the cuntlicting provision. and to this rnD the pruaisiuns of ahr ltortcagr anD the \uti aer clrrlared t.+ he srverahlr. 16. Borrowers Cop)•. Bnrroaarr shall hr furnishr,i c+~nfrnmd ropy of the Note and of this Martcage at the time ~+f execution or .after recordation hereof. 17. Transfer of the Pmpert~: Assumption. if all .•r am p.irt of the Pr.+prrty ur an intcrest therein is snld or transferreD M• Bnrn?wer with:+nt l.endrr's prior w•riUrn cununt. rarluding tat shy creation ,.f alien or encumbrance suhnrdinate to this Mortgage. Ih) the creation of a purchase nu+ne~ securita intcrest f.+r huuuho!J apl+!i:,nces, (cl a Iramfer by Devise. Descent or by operation of law trpam the Death c+f i,+int tenant ur f.l? ;he grant of anc Irasrhold interest of three years or less not rnntaining an option to purchase. 1 enter may. at I_rnJer's rptaun. declare all the sums secured by this Mortgage to be +mmraliatela- Due and pa},able. Linder shall hoar waiaed such option a+ acceler.ne if. prior to the sale nr transfer. Tender and the person to whom the Pmprrty is to to salt ,+r tramferreJ reach agreement in writing that the credit of such person ;c saticfacton• to i.cndrr and that the interest pa}•ablc c?n the s?:ms secured by this \lnrtgagc shall hC at such rate as Tender shall reyucsL If ).ender has w•aiveJ the option tr acrylcr,,tr provided in this paragraph 17. and if Borrower's successor in intcrest has executeD a written assumption agrrcment acccptrD in writing by Lender, Lender shall release Borrower from all obligations under this Morl~age and the Nnte. If Lender eacreises such option to acceler.,tr. I.enJrr shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a perica! of not less than ~0 Days tram the date the notice is mailed within which Borrower ma}• pay the sums JeclarcJ Juc_ If Borrower fails to pay sorb sums prior to the expiration of such period. 1_cnDcr ma}.. without further nnticy ar Jrmand nn Borrower, inyol.e any remedies permitted h)• paragraph 1R hereof. i Nox-hnctFOtet?t Covevw•rs. Borrower and I,cnder 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 Mortgage. including the coaenants to pay when due any snms secnred by this Mortgage, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifyirgq: (1) the breach; (2) the action r required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, 6y whkb strcb breach muss be cared; and (4) that failure to cure such breach on or before the date specified in the notice may resdt in acceleration of tht sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. 71re notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in tbt foreclosure proceeditrg the ran-existence of a defauk or an}• other defense of Borrower to acceleration and foreclosure. Tf the breach is not cured oa or before the date specified in the notice, Lender at Tender's option may declare all of the sours secnred by this Mortgage to fie immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall , be entitled to collect in such proceeding aU expenses of foreclosure, including, but not limited to, reasonable attorney's -fees, and costs of documentary evidence. abstracts and title reports. ~ 19. Borrower's Right to Reinstate. Notwithstanding LcnJer s acceleration of the sums secure) by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time . f 8341 P~ 84:3 T - _ - - r~ - - _ _ ~