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Home My WebLink About0232 ' + Lender s written agreement o? appl~cabte law Borrower shall pay the amount of 211 mortgq~,rahCe pril~i,t{,n1s in the manner provided under paragraph 2 ne+eot Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. shall become additional Nll1Qb1P(1+1P.SS AI BOrrOWBr SQr?UrRd by this MO•tgage Unless Borrower and Lender agree to other forms of payment. such amounts shall be payable upon nonce from lender to Borrower requesting payment thereof. and shat! bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shah bear rnterest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shall give Borrower nonce prior to any such inspection specifying reasonable causetherelor relat°d to Lender s interest in the Property. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequent+al :n connection with any condemnation or other taking o! the Property. or part thereof, o? for conveyance in lieu of condemnation. hereby assigned and shall be paid to Lender In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage. with the excess. it any paid to Borrower. In the event of a partial taking of the Property unless Borrower arxf Lender otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immi~iatety prior to the date of taking bears to the fair market value of the Property imrnediatety prior to the date of taking, with the balance of the proceeds paid to the Borrower. it the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor o}leis to make an awa?ii or setNe a olefin fur damages. Burrower fails to reSpui+d iv Lf'n~Jer wRPiiri 3^v clays after the date such nonce is mailed. Lender is authorized to collect and apply the proceeds. at Lender's option. either to restoration or repair o1 the Property or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shalt not eztenrt o? postpone the due date of the monthly installrents referred to in paragraphs t and 2 hereof or change the amount of such installments. 10. Borrower Not Released. Extension of the time for payment or mod~tication o1 amortization of the sums secured by this Mortgage granted by Lender to any successor in rnterest of Borrower shat! not operate to release. in any manner. the liability of the original Borrower and Borrowers successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization o! the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in rnterest. 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder. or otherwise afforded by applicable law. shall not tie a waver o! o? preclude the exercise of any such right a remedy. The procurement of insurance or the payment of taxes or other Dens or charges by Lender shall not be 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 aredistinct and cumulative to any other right or remedy under this Mortgage or afforded by law or egwty. and may be exercised concurrenuy, indeperidentty or successively 13. Successors and Assigns Bound; Joint end Several Liability; Captions. The covenants and agreements Herein COntatned Shall bind. and. the rights hereunder shall inure to. the respective successors and assigns Of Lender and Borrower. subject to the provisions of paragraph t 7 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mortgage are for covenience only and are not to tie Jsed to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner. ca) any notice to Borrower provided for in this Mortgage shall be given by mailing such nonce by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to lender as provided herein. and , Ib? 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 Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law; Severability. Th?s form of mortgage combines unrtorm covenants for ndiiOna! use and non unrfOrrr? Covenants L•rth ! ~rnite+l vdr~at~C~nS t)y {unSdiCtiOn to COn~titute a unifo±m Security :nStrumen+ covering +edl grope+ty The slate and IOCai °d,vS 3pp~iCd!~`e !O this Mortgage sham be the laws of the Iu+iSdiChOn i1 which s the Property is located The foreyoi~y sentence shat; n~~t ~~r^~t the apphcat,~!ity of federal aw to this mortgage In the event mat any provision or c!a;ae of this Mortgage or the NOie COnh;ClS w~;h applicable le?v. Such CO!tf!iCt shall nOl affect Giher (irrwi5sOn5 Of this !'.loriyFtg@ Gr fhe i~OTF? Wh~Ch ;.;fn tie C:~.er1 t.}feet WithOU+ the CO'1rtiChny prOtiiSiOn dnd Sb fhi5 enh the provisions of the Mortgage rind the iJ+:!e <!re +:f-GcrF'lt rte =F=.eratie ~ 1 R, ~~~(,f~q~r'ta r?~_ Rnr?hyyPr cnaii he f~~rn.chari a rnnfnrmgil ~nry nr tho NnfP anr~ of thic rylnrfga~a of trip tune of execution or after recordation hereof. `t 17. Transfer of the Property; Assumption. It ail Or any part of the Property or an interest there?n is sold or transferred by Borrower without Lenders prior written consent. excluding Ia? the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creation of a purchase money security rnterest for household appliances. Ic? a transfer by devise. descent or by operation of law upon the death of a joint tenant orfd? the grant of any leasehold interest of three years or less not containing an option to purchase. Lender may. at Lender s option. declare aft the sums secured by this Martgage to be immediately due and payable. Lender shall have waived such opt+on to accelerate it poor to the sale or transfer. Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the rnterest payable on the sums secured by this Mortgage shall be at such rate as Lender shall request- If Lender has waived the option to accelerate provided in this paragraph 17. and if Borrowers successor in interest has executed a written assumption agreement accepted in writing by 1_ender. Lender shall release Borrower from all 3 obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. Lender shall malt Borrower notice of acceleration in accordance with paragraph t 4 hereof. Such notice shall provide a period of not less that 30 days from the date the notice is mailed w,thin which Borrower may pay the sums declared due. If Borrower tails to pay such sums poor to the expiration of such period. Lender may. without further nonce or demand on Borrower. invoke any remiedies permitted by paragraph 18 hereof. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 18. Acceleration; Remedies. Except as provided in paragraph 17 hereof; upon Borrowers broach of any covenant or agreement of Borrower in this Mortgage, including the covensntsto psywhen due any sums secured by this Mortgage, Lender prior to acceleration shell mail notice to Borrower as provided in paragraph 14 hereof required to cure such tireach; (3j s date, not less than 30 days from the ~ specifying: j1) the broach; (2) the action date the notice is n',silsd to Borrower, by which such breach must be cured; and (4) thatfailuroto curosuch breach ~ on or before the date specified in the notice may result in acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrowerof the right to I reinstate afteracceleration and the right toassert friths forectosursproceeding thsnon-existence of s default or any other defense of Borrower to acceleration and foreclosure. If the broach is Hat curod on or betoro the date specified in the notice, Lender at Lender's option may declare ell of the sums secured by this Mortgage to be immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall be entitled to collect in such proceeding all expenses of foreclosuro, including, but not limited to, reasonable attorney's tees, and costs of documentary evidence, abstracts and title roports. 19. Borrowers Right to Reinstate. Notwithstanding Lender's 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 f iK _