The URL can be used to link to this page

Home My WebLink About1518 Lender's. written agreement a applicabk kw. Borrower shall pay the amount of all mortgage insurance prraaiwas is the manner provided under paragraph 2 heroof. Any amounts disbursed by 1_cnder pursuant to this paragraph with interrsS r~ shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and lender agtebtll~~~ tttrtas of payment. such amounts shall be payable upon notK-r from 1_cnder to Borrower requesting payment thereof, and shall bear interest [tram the date of disbursement at the rate payable from tune to time on apt:landing principal under the Note unless payment oI interest at such rate would be contrary to applicabk law, in which event such amount: shall bear interest at the highest rate permiuibk under applicabk law. Nothing contained in this paragraph T shall require Lender to ittcur any rarpewsa tx fate any action hereunder. fi. lwspectiow. 1_ender may make or cane to be made reasonable entries upon and inspectiora of the Property. pr~oviided that Lender shall give Boaower notice prior to any such inspection specifying reasonable cause therefor related to Larder's interest in the Property. 9. Cawiettawatlow. The proceeds of any award or claim for damages, difect or consequential, in oonrreetiow with say cortdearnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation. are ha+eby assigned and shall be paid to [.ender. In the event of a total taking of the Property. the proceeds shall be applied to the stems secured by this Mortgage. with the excess, if any, paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Leader otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the preoeede as is equal to that proportion which the amount of the sums scarred by this Mortgage immediately prior to the dale d taking bears to the fair market value of the Property immediately prior to the daft of taking, with the balantx of the proceeds paid to Borrower. If the Property is abandoned by Borrower. or if. after notice by I_cnder to Borrower that the condemnor ofltrs to mate an award or settle a claim for damages. Borrower fail. tc? respond to lender within 30 days after the date such notice ill mailed. Leader is authorized to collect And apply the proceeds. at Lender's option, either to restoration or repair of the Property or to the sums secured hY this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shag sot trrttard or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[ such installments. 10. Borrower Not Released. Extension of the rims for payment or modification of amortizstron of the stnas secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to rt:kase, in say tttanna. the liability of the original Borrower and Borrower s sttccessnrs in interest. Lender shall not be required to eanmenoe proceedings against such successor or refuse to extent 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 irMnest. 11. Rorbarawce by Lewder Noe a Waives, Any forbearance by [.ender in exercising any right or remedy Itgetatder. or otherwise afforded by applicabk taw, 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 be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. It Rerweiiea CrwtrlMivee. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or aBorded by law a equity, and may be exercised concurrently. independently a aucceaivrcly. 13. 3wccesrer>s awe Atttiepts dorud:.loirt tta?d St:vctrd i,iab~ty; Captioss. 'Ilte covenants and apeeatertts herein contained shall bind, and the rights hereunder shall inurg to. the respective successors and assigns of Lender spd Borrrwer, subject to the provaions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The pptiotts' and headings of the paragraphs of this Mortgage arc for convenience only and erne not to lle used to interpret or define the provisans hereof. 14. Notke. Except for any notice required under applicabk law to bt given in another manner. (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by cenifkd mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to i~nder u pravided herein. and (b) any notice to Lender shall he given by certified mail. returo receipt requested. to i.ender's address stated herein or to ~i~ 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 green to Borrower or Lender when given in the manner dtaignated hentdn. 1S. UwKors Mortgage; Go•eraiwtt l.aw: Severabllity. This form of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform aecurity.irWrument covering neat 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 applicabk law. stub conflict shall not afloct other provisions of this Mortgage or the Note which can be given eQect without the conflicting provision. and to this end the provisans of the Mortgage and the Note arc Declared to be severable. i 1ti. Sorrower's Curt'. Borrower shall be furnished a conformed copy' of the Note and of this Mortgage at the time of execution or after recordation hereof. 17..TtrawJer of the Property: Asserwptiow. If all or any part of the Property or an interest therein is sold or trartskrrtd by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to this Mortgage. (b) the crcatton of a purchase money security interest for household appliatttxs, (c1 a transfer by devise. descant or by operation of law upon the death of a joint tenant or (dl rite grant of any leasehold [Meter of three years or less rat containing an option to purchase. Lender may. at Linder s option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer. Lender and the person to whom the Property is a. be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interc~et payable on the sums secured by this Mortgage shall be at such rate as Leader shall negoest. if Lender has waived the opion to accelerate provided in this paragraph 17. std if Borrryrrer's successor in inttresl has executed a written autunption agreement accepted in writing by Lender. Lends shag release Borrower from all obljgations ulyder this Mortgage and the Note. if Leader exercises such option to acceknte. Lender shall mail Borrower notice of accekntan in secordantx with pwragraph 14 hereof. Such notice shall provide a period of rapt less than 30 days from the daa the notice is mailed within i whic(t Borrower may pay the sums declared dire. if Borrower fails to pay itch sums prior to the txpirstion of stuff period. Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. Norr•Ut+ttartut C01rlNATITS. Borrower and Lender further covenant and epee as !o{lows: # lfl. ~ Rowdies. E:ee}t m provftfiei i* rsraparr 17 resat. ttrow Nrrw~weh rt.a>rr et awp eo+reaswt er 1 i atnemat of Mnr+rer lw erla Mortgage, irerrtWtg ere co•ewawfs eo M7 writs tMe N7 swwn sstwrtri r!' Ili 1lflstr~sgs. iwwier ~ rrisr N wecaieiwtlaw art wail wt>fke to forrswer • rro•Ned br raragrarr 14 Mrat sraclfyMrgs (1) Ire rreaers (=1 ere rtrceias f re*irei M ewrs rarer rtrarerl t~ • tftMe. trot less traw 3• days trorw ere tlis~ Ire .allee is twwlfe/ N lfarrewa. y wrki tttrer [treat ta.wrt k etw+d; awl (4) ttrat fairae to crre sttcr rtteaer a err ref«e trc isle ~ ~ •t q~Tr~i ~ ~wslk~s aeerierwNas st tfltr setrn seerrrd h air MerKage. tarclorsre h ~ dell twrlrer iwterrs larrwwer d ere rfedre w arter aKCYkrNNs awd ere right N asaM y Ire firseMwrre prrtceat>lttg airs sorre:Merree M w tfiefasM er swy trtlrer defewse of Borrower is aecslerwliaw awl t~rsetearre. r ere rreser r till erred err i or rd«e lire tale arrcifieti r trs wMfee. Lewder rt I.cw/er's ortMw r..r [stare sit .r trs ttrws attttwrtl h ub 1Narlgrge eti >k trrs.retiiMelf ire rwysrle .rierare r ~ p~+ ~ rwf t..lilrral.i r~r.. ~sttur fuses. rs rtreMki M eaifMet flr asst rnceeiiwg ' wtsi e»sla et tieartseMary eniies~Y. arstracls awl title rrr~ris. lf. ~esrwp's R~rt N Reiastaea Notwithstanding Lender s accekrstiw+ o/ the sums sawed by the Mme. t Borrower shall have the right to have any proceedings begun by lender to enforce this Mortgage discontintrod at any time X342 ~,~~.5i7