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Home My WebLink About1027 • i ' i ~ Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage itrsuranoe premiums in the manner provided under paragraph 2 heron[. Any amounts dislna:ed by tender pursuant to this paragraph 7. with interest thereon. shall become additional 1 indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terns. of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from ,Ire date of disburserrrent at the rate payable from time to time on artstanding principal under the Nole unless pajrmart of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate g permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or tike ! any action hereunder. ~ a. lmreetiow. tender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Larder's interest in the Property. 9. Codewraatioe. Ths proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned and shall be paid to I.cnder. in the event of a total taking of the Property. the proceeds shall be applied to the sums scarred by This Mortgage. with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Fender otherwise agree in writing, there shat! be applied to the sums secured by this Mortgage sucfi proportion of the proceeds as is equal to that proportion which the amount of the sums xrured by this Mortgage immediately prior to the: date of ~ Taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. ~ if the Property is abandoned by Borower. or if. after notice by Lender to Borrower that the condemnor otters to maize an award or settle a claim for damages. Borrower fail. to respond to 1_ender within 30 days after the date such notice ~s mailed, Lender is authorized to collect and apply the pre~aSe¢{~•at Ler~et's o~tiorl. either to restoration or repair o[ the: Property or to the sums secured by this Mortgage. . ~ t ,N _t ~ - Unless Lender and Borrower otherwise agree in writing. arty, i,~1i application of proceeds to principal. shall not extend or postpone the due date of the monthly installments referred to rn paragrspl(s 1 and 2 hereof or change the amount of such installments. lA. Borrower Not Rekssed. Extension of the time for payment or modification o[ amortization of the sums atxurtd - 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 i successors in intemt. Lender shall not be required to eommenoe proceedings against such successor or refuse 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 interest. 11. Forbearawce try [.ceder Nof a Wairer. 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 the exercise of any such right or • remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not bt a waiver of Lender's right to accelerate the maturity of the indebtedness secured 6y this Mortgage. 12. Rereedka CaraeWbe. All remedies provided in this-Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively. ' 13. Saceasors sad AtaiRas Eoued:.7oiet ad Strend 1LbBify; Capdoas. The covenant: and agreements herein ' contained shall bind, and the rights hereunder shall incrg to, the respective successors and assigns of Lender apd Borrower. { subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joirg and several. The captions-and headings of the paragraphs of this Mortgage are for convenience only and are not to Ife used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to i Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such titre-r address as Borrower may designate by notice to Tender as provided herein, and - (b) any notice to Lender shall be given by certified mail. return receipt requested. to Lender's address. stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this f Mortgage shall be doomed to have- been given to Borrower or Lender when given in the manner designated herein. x lS. UwBorrw MorigaRe; Corerwlag Law: SerenbBity. This form of mortgage combines uniform covenants for national II use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform_sticurity instrument covering real property. This Mortgage-shall be governed by the law of the jurisdiction in which the Property is located. in the event that any provision or clause of this Mortgage or the Note conflicts with applicable law. such conflict shall not aRect ~ other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to the end the provisiorra of the Mortgage and the Note arc ~kctared to he severable. lf. tbrrower's Cory. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at tyre time " of execution or after recordation hereof. 17..Traasfer of ere hoperty: Aswmptiow. If all or any part of the Property or an interest therein is sold or tnnferred by Borrower without Lender's prior written consent. excluding (al the cteatrorr of a lien or encumbrance subordinate to this Mortgage. (b) -the creation of a purchase money security interest for household appliatrces, (c1 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 year or less ' not containing an option to purchase, Lender may, at Lender s option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived :tech option to accelerate if. prior to the sale or transfer, Lender and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person is satisfactory-to Lender and that the inten'st payable on rho sums secured by this Mortgage shall be at such rare as Lender shall request. Tf [.ender has waived the option to accelerate provided in this paragraph 17. and if Borrowers successor in interat has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all obligations under this Mortgage and the Note. if Lender exercises such option to accelerate, Lender shall mail Borrower notice of accekntion in accordance M•ith paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice a mailed within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period. ~ Lender may. without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof. - £ NON-UNrFOriM COVHNANTS. BOrrOwtr and Lender further COVtrrint and agree ~ follaMS: li. AcederadoM Rewredktt. E:cent as rrovMcd h raagryr 17 renof. area Yernwes'a rsroer of say carerN ar ' agreeaewt of •ersmwer d Ws Mortgage. iwc~leirrg Ire eoreatreb to ray wren tMe trwy sttas seearetl Try tW Matgtrge. Carter ` rrfiatr N aecderatlew err seafi wofkc to flonrwer r rruritld fors rarsigrarr 14 8ter+eot areeifrla~s (1) ere rseacr: (21 ere sttkw rtgietl M care tarsi bread (3) = tale. sot lea lrarr 3• days inoar ere date ere wtNke i, twre~ M lerstower, h' wrkr twtr ~ - bseaer twiaet be etetrt~ ttwtl (4) trot faiare a core ssrcr rreaer o. K refore ere 4ate ereetfietl V ere wotiee tract stwttlt V ° seceieratlw et Ire ta~ere stead try rite MorigsRe. tesccloare h lyd{eW lroeeaif~ turd tale at ere >rsorerty. '11te wetke ~ sir sorrier lwtors •orrrsra of ere riRM to sYirrNNe after aecden8ow turd ere r1gAt 1o Weser! r ere torselaarr }reeee>ttg ~ Ire rrortzMewee of s default-or trwy crier tiefewse of •orrower a sccelerMlow ttrrtl foreeloaase. R At btrrxr is set card M er before Ire thte aredid r ere wtrttce. Lewder st Leader's optioe !say dalare r of ere ataus stead br tlde Mortgage f~ k iarwtsiWely sire awtl rayaMe witrowt farrier demand sad w>q tersctae rile Merl gs ~ jtriieW NreeeatlR. Leedcr iMap re ewWktl a tercet V ntrer rsrces~ r t:pewsa rat toreclo~re, iwcrdiwg. Awt tsN Bwitetl N, reatawaMe staxseYa fsa. tttatt coeb et doe.tsewfari? eridewte, abstracts scats title rerorb. 1 11. tiarrrwa's Rigrt N Reieetate. NMwithstandinft Lenders acoekration of the scans secured by thr_ Mortgsge. Borrows shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinried.at any time ao~x 341 PsGE ~~~y - ~ _ ; _