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Home My WebLink About0249. • lender s wntten agreement or appi~cable iaw Bo~rowe- 5halt pay the amount ~t ~N ~~ge insur~4 ~emiums ~n the manner prov~decl under paragraph 2 he~eol Any amounts d~sbuised ny Lender pursuant to Ih~s paragraph 7, w~Ih ~nterest thereon, shatl become add~t~onai ~ndebtedness ol Borrower secured by Ih~s Mortgage_ Unless Borrower and Lender agree to other terms ot payment, such amounts shall be payabte upon nol~ce trom Lender to Borrower request~ng payment thereo~, and shafl bear ~nterest Irom Ihe date ot d~st~ursement at the -ate payaule from I~me lo t~me on oulsland~ng pr~nc~pal unde~ the Note unless payment ot ~nterest at such ~ate would be contrary :o applicable law, ~n wh~ch eve~t such amounls shall bear ~nlerest at the h~ghest rate perm~s~:ble under apphcable ~aw. Nomin9 comained in this parag~aph 7 shau ~equ~~e Lender to mcur any expense or take any ac'~on herEUnaer. • 8. Inspsetlon. Lender may make or cause ~o be made reasonable ent-~es upon and mspect~ons ot the Property. prowded that lender shalt grve Borrower noUCe pr~or t~ any such ~nspecUOn spec~ly~ng reasonable cause theretor retated to lenders interest ~n the Property. 9. Co~demnation. The proceeds ot any award or cia~m for damages, d~rect or consequent~at, m connect~on w~th any C~ndemnat~on or othe- tak~ng ot the Property, or parl thereof, or for conveyance ~n I~eu o! condemnai~on, hereby ass~gned and shall be pa~d to Lender In the event ot a total tak~ng of the Property, the proceeds shall be appl~ed to the sums secured by th~s Mortgage. w~th the excess. ~I any pa~d to Borrower. In the event ot a pa~t~a! tak~ng ot Ihe Property unless Borrower and Lender othe+wise agree in wril~ng, there shatl be appl~ed to the sums secured by th~s Mortgage su~h propo-t~on ot the proceeds as ~s equal !o that proport~on wh~~h th~ am~unt ~1 the sums secured by ihis Mortgage immed~ately pnor to the date ot tak~ng bears to the tair market value ot the Property ~mmed~ately prior to the date of tak~ng, with the baiance of the proceeds pa~d to the Borrower If the Properiy ~s aban~ioned by Bo-rowe~. or ~1, after not~ce by Lende- to Borrower that the condemnor olleis to make an award or settle a cla~m br damages 8orrower tads to respond ro lende~ w~thm 30 days atter the date such nOt~ce ~s ma~led. Lender ~s author~zed tc cotiect and apply Ihe proceeds. at Lender's opt~on, e~ther to resto-ation or repa~r of the P-operty or to the sums secured by th~s Morigaye. . Unles~ Lender and Borrower otherw~se agree ~n wr~t~ng, any such appl~cation of proceeds to pnncipal shalt not exten~! or postpone the c]ue date of the monthiy ~nstatlments reterred to ~n parayraphs t and 2 hereot or change the amount ol such instaliments. 1 O. Borrower Not Released. Extension of the t~me tor payment or moditicat~on of amort~zat~on ot the sums secured by th~s Morigage granted by Lender to any successor ~n interest of Borrower shalt not~operate to release. ~n any manner, the hab~l~!y ot the or~g~nai Borrower an~! Borro;r~ers successo-s ~n ~nterest. Lender shal~ not be reqwred to commence proceed~ngs aga~nst such successor or retuse to extend t~me tor payment or otherw~se med~fy amort~zat~on ot Ihe sums secured by th~s Mortgage by reason ol a~y demand made by ihe or~g~nat Borrower and Borrowe~s successors ~n interest. 11. Forbea~ance by Lender Not a Waiver. Any torbearance by Lender ~n exerc ~s~ng any r~ght or remedy hereunder. or otherw~se atforded by appl~cabie law. sha~~ not be a wa~ver ot or Qreclude the exerc~se of any such r~ght or remerfy The procurement of ~nswance or the payment ot taxes or other I~ens or charges by Lender shall not be a wa~ver of ~ende~ s r~ght to acceterate the matur~ty ot the ~ndebtedness secured by th~s Mor,gage 12. Remedies Cumulative. AII remed~es prowded in th~s Mortgage aredist~nct and cumulative to any other right or reme~y under this Mortgage or aftorded by law or equ~ty. and may be exerc~sed concurrently. independently or success~vely. 13. Successo~s and Assigns Bound; Joint a~d Several Liability; Captions. The covenants and agreements here~n conta~ned shall b~nd. and the nghts hereunder shall ~nure tb. the respecl~ve successors and ass~gns of ~ender and Borrower. sub~ect to the prov~s~ons ot paragraph 17 hereof. ~ll covenants and agreements ot Borrower shal} be ~o~nt and several. Tne capt~ons and head~ngs ot the pa!agraphs ot ih~s Mortgaye are tor covemence only and are not to be used to ~nterpret or det~ne ihe prov~ssons he~eof. 14. Notice. Except tor any not~ce requ~red under appi~cabie Iaw to be g~ven ~n another manner. la) any notice to Borrower prov~ded for ~n th~s Mortgage shaii be g~ven by ma~l~ng such not~ce by cert~}~ed ma~l addressed to Borrower at the Property Address or at such other adaress as Sorrower may des~gnate by not~ce to Lender as prov~ded herein, and_ '~ ib) any notice to Lender shall be g~ven by cert~l~ed ma~l, return rece~pt requested. to lender s address stated here~n or to such other address as Lender may des~gnate by not~ce to Borrower as prowded herem. Any not~ce prov~ded tor ~n th~s Mortgage sha~~ be deemed to have been g~ven to Borrower or Lender when g~ven m the manner des~gnated herein. 15. Uni(orm Mortgage; Governing law; Severability. Th~s form of mortgage comb~nes un~form covenants tor r~~iLOna~ use ar~d nor~-unrform Coven~nis tivith !imi!et~ vandGuns by ~unsdiCt~on to c~~nstitute a ~niform seCUrity cnsttU--~ent cover~ng rea~ property. The siate and Ioca~ a~vs ap~~!.cat~ e tv thf; Mortgage sha~i be Ihe ~aws ot the ~unsdichon in which t~e Preperty ~s tocated The forego~ng sentence sn~~~s n~; +~m~t tht a{~~~I~c;ability o~ tederai Iaw to ih~s mortgage in the event that any p•o~~sion or clause ot ;h~s Mortyage or tr~e Pd~~1E C~~nti~c?s :ti:'r~ app;~catl~e ~a:r such can?!~ct shalf not atfec! other prov~s~ons of th~s Morigage or the rJ~~t? :'rhiCh C;if~ ti~ c~+.Pn f~ftF;( 1~.ti~tlrOi;' Ihf' ~~~~ti~c'my prov~s~o~ Lind to th~s end the pro~•ts~ons of the Mortg~ige dnci th~ ttii.tEr .f!E~ ~f~~r.;~rec! !r; :,F St.:F•~a:~le 16. Borrowe~'s Copy. Borrower shail be furn~shed a conformed copy ot the Note and ot th~s M.ortgage at the t~me ot execubon o~ after recordat~on hereot 17. Transter of the Ptoperty; Assumption. If all or any part of the Prope~ty or an ~nterest therem ~s soid or transfened by Borrower w~ihuut Lenders pnor wntten cor,sent. exciud~ng 4al the crea[~on of a~~en or encumbrance subordmate to th~s Mortgage. (b) ihe creation oi a purchase money secunty ~nterest for household appl~ances Ic} a transfer by dev~se. descent or by operation oi law upon the death of a ~oint tenant or ~d) the grent of any Ieasehotd ~nteresl ol three years or less not conta-ning an opt~on to purchase. Lende- may. at Lender s opt~on. declare a~l the sums secured by th~s Mortgage to be ~mmediately due and payable. Lender shal- have waived such option to accelerate ~f pr~or to the saie or transfer. Lender and the person to whom the Property ~s to be sotd or transferred reach agreement m w:~tmg that the credit ot such person ~s sat~sfac[ory to lender and that the ~nterest payable on the sums secured by tn~s Mortgage shaU be at such rate as Lender shall request. It Lender has wa~ved the option to accelerate prov~ded ~n th~s paragraph 17, and if Borrower s successor ~n ~nlerest has executed a~vntten assumpt~on agreement accepted m writmg by Lender. Lender shalt release Borrower from all obl~gations under this Mortgage and the Note. • It Lender exercises such opt~on to accelerate. Lender shall ma~l Borrowe~ not~ce ot accelerat~on ~n accordance w~th .paragraph 14 hereof. Such notice shall prowde a per~od of not less that 30 days from the date the notice ~s mailed w~th~n which Bo~rower may pay the sums declared due. It Borrower fa~ls to pay such sums~ pr~or to the exp~rat~on of such per:od, Lender may. without further nollce or demand on Borrower. ~nvoke any remedies perm~tted 'oy paragraph 18 hereot. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as tollows- 18. Accelsration; R~medfes. Except as provided in paragraph 17 hersof, upon Borrowers breach of any covenant or agroementof Borrower In this Mo~tgags. including the covsnantsto psywhen due any sums secured by this Mo~tgage. Lsnde~,prior to acceleration shall mail notice to Bonovrsr es provldsd in paragraph 14 hsreof spectrying: (1) the bresch; (2) the actlon roquired to cure such bresch: (3) s dste, not less than 30 dsys from the date the notice is rr.ailed to Borrower, bywhich such breech must be cured; and (4) tF~at failure to cure such bresch on or befors the date sp~ctfisd in ths notice may result in acceleration of the sums securod by thls Mo~tgage, foreclosure by judlcial proceeding and sals of ths Property. The notic~ shall (urther inform Borrowerof the rightto rolnstate siter scceleration and the Nght to asseK in the foroclosure proceeding ths non-existence of a defsuR or any other defense of Borrower to acceteratlon and foreclosure. li~the b~each is not cured on or bstoro the date spscifled in the notics, Lender at Lenders optfon msy declars all of ths sums secured by this Mortgage to be immedistely due and psyable without turther demand and mar foreclos~ thls Mortgage b~- judiclal proceedln~. Lender shall be entitled to collect in such proceeding all sxpsnses of foreclosure, Includiny, but not Ifmited to, ressonsblo sttorneys fees. and costs of documentary evidence, abstncts and tRle reports. 19. Borrowers Right to Reinatsts. Notw~thstand~ng ~ender s accelerat~on ot the sums secured by th~s Mortgage. Borrower shall have the r~ght to have any proceedmgs begun by tender to entorce th~s Morigage d~scont~nued at any t~me B~;rK •,~l) Ps~~F 2~t7 ~ - ~ •~ ~~~ Hr~F~' _