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Home My WebLink About1379 ,1, r I.rnder's written agreement or apphcahle law. Borrower shall pay the amount of all mortgage insurance premiums in the manner prawded under paragraph 2 hereof. Any amo+tnts dishurscd by Lcndcr pursuant to this paragraph 7, with intrrcst thereon, shall become additional in?kMedncsc of Burruw•cr secured by this Morlgage Ilnltss Borrower and I rnDer agree to other terms of payment, such amounh shall be payable upim notice from 1 ender to &~rrowcr rcgttesting payment thereof. and alto!! btar,~tteresl from the date of disbursement at the rate payable from time to Time ~xt outstanding principal under the Not! Unless payment of interest at such rate would I+e contrary ti? applicable law, in which event such amounts shall hear interest 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. fl, Iturpection. Lender may make or ca+„c to he made reasonable entries upon and inspections of the Property. provided That Lender shall give Borrower nutne prior to any xuch inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in tonnectiow with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. arc hereby assigned and shall be paid to Lender. in the event of a total taking of the Properly. the prxeeds shall be applied to the sums 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 Lender otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the protxeds as is equal to that proportion which the amount of the sums secured 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 ahandoneD by Borrower. or if. after notice by Lender to Borrower that the condemnor olfen to mate an award or settle a claim for damage+. B+?rrower tail. to respond to !.ender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceeds, at Lender c option, either to restoration or repair of the Properly ~ to the sum. secured by this Mortgage. U:+lesc Lender and Borrower otherwise agree in writtnF. any such application of proceeds to principal shall not extend or poctpo:te the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of such installments. 10. Borrower Not Rele~ed. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to rcieast. in any manner. the liability of the original Borrower and Borrower's sttecessorc in interest. I.tnder shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwiu modify amortization of the sums secured by Ihic Mortgage by reason of any demand made by the ori2ina) Borrower and Borrower s sttcttsson in interest. 11. Rorbearance by lender Not a Waiver. Any forbearance by 1_ender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall trot 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 indehtedness secured by this Mortgage. 12. Remedies Cnmulatitre. All remedies provided in this Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or aBorded by law or equity, and may be exercised concurrently. independently or sttcetisively. ' 13. Sactessors and Assigns Bound; .joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to. the respective successor and assigns of Lender acrd Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joird and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to interpret or defint the provisions herrnf. 14. Nolke. Except for any notice required under applicable law• to be given in another manner. (a) any notice to _ Borrower provided for in this Mortgate shall be given by mailing such notice 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 (b) any notice to Lender shall he given by certified mail. retr+rn receipt requested. to I enders address stated herein or to st:ch other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall bt deemed to have been given to Borrower or lender when given in the manner designated herein. j 1S. Uniform Mortgage; Governin(! law; Severabilitr. This form of mortgage combines uniform covenants for national use and non-uniform covenants with IimiteD variations by juncDiction to constitute a uniform security instrument covering ~ real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the f event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not afTect !f other provisions of this Mortgage or the Note which can be given effect without the con9icting provision, and to this end the provisions of the Mortgage and the Note are Declared to be severable. 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time - of execution or aGer recordation hereof. • 17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred by Borrower without lender's prior writrrn consent. excluding (al the creation of a lien or encumbrance subordinate to a this Mortgage. (bl the creation of a purchase money security interest for household appliances, fe) a transfer by devise, descent or by operation of law upon the Death of a jc?~nt tenant or (d? the grant of any leasehold interest of three years 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 weaved such option to accelerate if, prior to the sale or transfer. Lender and the person to whom the Properly is ti? be +o1J or transferred reach agreement in writing that the credit of such person I is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. tf 1_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower i aucctssor in interest hoc executed a written assumption agreement accepted in writing by 1_ender, Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. 1_ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within ~ which Borrower may pay the sums declared due. If Borrower fails to pay such stems prior to the expiration of such period. x Lender may, without further notice or demand on Borrower. +nvoke any remedies permitted by paragraph IR hereof. r NON-UNIFORM COVENANTS Borrower and Lender further covenant and agree as follows: lfi. Accektration; Rcmedks. Except as provided is puagraph 17 hereof. upon ><orrowe~s breach of any covtwant ar t agreement of Iorrower in Ibis Mortgage. inclndirrg the coreaaMs to pay whew due awy sours seenrcd by thus Mortgage. i.eader ` prbr to acceknNow shed! mail notke to fiorrowtr sts provided in paragraph 14 hereof specHyiwg: (1) the brrach:121 the sdbw required fo core sash breach; (3) a date. not less thaw 30 days from the date the wMke fs moped to 13otrrowcr. by whkh such btteach most be cared; sad (4) that failure to care torch bresch ow or bdore the dale spectPed iw the notke may result b { nccekration of the sams secnrcd by this Mortgage. toseelowre by jadkist'rocceditrg and sale of the Property. The notkt a shall further inform !Borrower of the right to rtiwstale sifter sKCCkratbw awd tlrt right !o tttsscrt in the tortcfiosare psoetedlwg the aon-existence of a defauk or any other defense of Borrower to accekrstbw and for~eelosott. Ifs the breach is woe cared ow or bdore the date specified iw the notice. Lender a1 I.rnder's optiow rway declare sill of fleet coats secured by thfs Mortgage b bt immediately due and payable without further demand and may foreclose thk Motrt~a~e 6y jiadkisi proctediag. 1.enAtr chap be entitled to collect iw such proceeding ap t:pcnses of forectosnre. luclrrdirrg. brit not Bmittd to. rrusownble aft+,rnevs fees, and costs of docawtenlsvy evidence. abstrxts and title reports. ' ~ 19. Borrower's Right to Reinstate. Notwithstand+ng I ender s acceleration of the sums secured by th+s Mortgage. Borrower shall have the right to have am proce~Dinec hrf~in by Lender to enforce thn Mnngage dncondnued at an) time ~~x 3~3 p~~E 137 - ,