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Home My WebLink About03761' I.endcr'c wnucn agrcemcnt or apphcablc law. Borrower shall pay thc amount of all mongagc inw~ance prcmiums in the mannr~ pruvidrd undcr paragtaph 2 hcrcot. Any am~iunl~ di~hursrd by LrnJcr pur~uan~ w this paragraph 7, wnh ~ntcrcct thercon, shall lxcomc additiona) inil~Mcdnc~e uf liurruw~r ~ccttrcd hy Ih~~ Mungage. Unle.. Bormwcr anJ Lemlcr agrcc to olhcr Icrmc ~t payment, such am~unl< <hall hc payablc uEx~n nutirr fr~~m 1 cnde~ to Bu~rowrr reyuc~ting p~yment.thctrC(+f. and ehall hear intcrest trom the datc of di~burcement at thc ralc payahlc fmm timc to time an outstanding principal undcr the Note unlecc payment o( interest at such ~ate would he contrarv t~~ applirable law, in which event aich amounts chall hear interesl at the highest nte permissible under applicable law. N~-~hing c~~n~ained ~n thic parag~aph 7 shall ~equirc I.e~der to incur any expense or take any action hereu~der. 8• lospeetion. t.ender may makr or ca~~.e li~ I+e made reaconable enlriec u~n and inspectiont of the Property, provided tha: l.ender shall give &~rrower noticc pri~~r ta any ~uch inspection sptcifying reasonabk oause therefor related to Lender's interes~ in the Ptopeny. 9. Coademnation. The proceedc uf any award or claim for damages, direct or consoque~tial, in eonnectio~ ~rith any condemnation or other laking of the Praperty, or pan tAercof, or for conveya~ce in lieu of cor~demnation. arc hercby assigned and shall be paid to I.ender. in the event of a to~al taking of Ihe Property. the proce~ds chall be applied to the sums securcd by this Mortaaae, with the exccss, it any, paid lo Bo~rowe~. ln the even~ of a partial taking of the Property, unless Borrower and Lender o~herwix agree in writing. there shall 1x applied to the cumt stcurcd by this Ma~tgage such propoNion of the procteds as is equa) to that praportion w•hich ~he amount of ~he sumc secured by this Mortgage immediately p~ior to the datt ot taking bears to the fair market value of the P~oper~y immedialety prior to the date ot taking, with the balance of the pr~octeds paid to Borrower. - If the Property ic ahandoned hp Borr~w~rr. or if after notice bv I.ender to Borcower that the condemnor offers M make an award or settle a claim for dam~ce~. A~~rr~wer t~~l. ti- rccpond to l.ende~ wi~hin i0 days after the date st;ch notice is mailed. Lender ic authoriaed ta collect and appl~• the prc-ceeds. at I.e~der's oplian, eithe~ to~restontion or repair o[ the Properry or to the sum..ccured M• this Mongage. Unlesc I.ender and Bor~ow~er otherwiu agree in w~rit~ng. any such application of proceeds to principal shall not extrnd or po~tpone the due date o( the monthly inctallmentc referred, to in paragraphs 1 and 2 hereof or changt the amount of cuch inslallments. 10. Borrowe~ Nol Releised. Fxtension of the lime for payment or modification of amortiution of the sums secured by this Mort~rage granted by l_ender lo any cuccecsor in intereu of BoROwer ~hall not operate to rclease. in any manner. the liability ~f Ihe original Bonower aod Borrower'c succescorc in interest. I.ender chall not be requircd to commence proceedings against ~uch successor or rcfuce to e+etend time for payment or otherwice modify amortizahon of thr sums cerured hy thic Mortgage by reason ot any demand made by the ari¢inal Borrower and Borrower s successars in intertct. 11. Forbeannce by I.ender Not s Wsire4 Any fc-rhearance by l.ender in etercising any right or remedy hercunder, or otherwise affordeei hy applicahle law. shall nc-t be a waiver af or preclude the exercise of any such right or rcmady. The procurement of insurance or the payme~t of ~axes or other liens or charges by [.ender chall not tx a waiver of Lender s right to accelerate the maturity of Ihe indehtednets cecurcd hy Ihic Mortgage. 12. Remedies Cnmulathe. All rcmedies provided in this Mortgage are distinct and cumulative to any other right or rcmedy under this Mor~gage or afiorded hy law or equiry. and may be exercised concurrcntly. independenUy or succetsively. ~ 13. Snccessors and Assi~ns Bound: Janl and Sererd I.iabiliry~ CapHons. The covenants and agreements hercin contained shall bind, and the riRhts hercunder shatl ini~re to. the respective succecsors and assigns of Lender at~d Borrower. subject to the provisionc of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several. The captions and headingc of the paragraphc of ~hic Mohgage are h-r conveoience only and are not to be uced to interprct or define the provicion~ herrnf. 14. Notke. Except for any notire required under applicable law to be given in another man~er, fa) any notice to Borrower provided for in this Mor~gaee chall he given by mailing cuch notice by certified mail addressed to Borrower at the Property Addrcss or at such o~hcr addresc as Borr~wer mav daignate by notice to 1_ender as provided herein. and (b) any notice to Lender shall he given hy certificJ ma~l. retum rece~pt requetted. to I ender s address stated hercin or to cuch other addrcss as I.ender may de~i¢~a~e b}• n~tice t~ Borrower as provided hercin. Any notice pravided tor in this Mortgagt shall be detmed to have t+een given to B~rr~v-•cr or l.ender when grven in the manner designated herein. 1S. Uniform Mort~a~e; Covernin~ I.aw; Sererability~. This form ot mortgage combines aniform covenants for national use and non-uniform covenantc with IimiteJ vanationc h~• juncdiction to constitute a uniform security instrument coverinE real property. This Mortgage shall be governed hv thc law of the jurisdiction in which the Property is located. In the event ~hat any provision or clauce of ~hic Mortgace or the Note conRic~s wi~h applicable law, such conflict shall not affect other provisions of this Mongage or the Nntr which can be given eBect withotU the conflicting provicion, and to this end the provicions of ~he Mortgage and the 'Vcxe are Jecl~red to tx sev~r~ble. 16. dorrower's Copy. Borrower chall be furni~hed a conformed copy ot the Note and of thic Mortgage at the time of executioo or after recordation hercof. 17. Trsaster ot the Propert~•: Atsumption. If all ~r any part of Ihe Pmperty or an intt~est therein ic sold or transftrred by Borrower without [xnder's prior wr~n.n ~uncent. excluding (al Ihe eteation ot a lien or encumbnnce subordinate to this Mongage. (bl the creation of a pur~h.,ce mi~nev ~ecurity ~nterest fc-r household appliances, fcl a trancfer hy devise. descent or by aperalion of law upon the Jcath o( ~ jc.inl tenant or (d~ tht grant of any leasehold inlercst of thrce )cars or kss not containing an option to purchase. [.ender may_ at t.ender'e opt~on, decl,re all the sums secured by this Morlgage to bt ~mmediately due and payable. I.ender ~hall h:,ve w.~~ved s~ich opt~on to arc~lerate if, prior to the cale or transfer. Lender and the person to whom the Proper~y i. m be .o1J ar ~rans(erred reach agrerment in writing that ~Fu credi~ of wch peROn is satisfactory- to t.ender and that the ~in~r~r.t payable on the sums secured by thit Morlgagt shall bt at such rate ac t_ender shall requtst. If l.ender has waived the op~~on to accelerate provided in ~his paragraph 17, and if Borrower i succeswr in - interest hat executed a written assump~~on agreement accepted in writing by I_ender. Lender shal) release Borrower from all obligations under this Mortgage and the Note. If Lende~ exercises such opt~on ~~. acrelera~e. !_ender chall mail Borrower notice of accderation in accordanc~ w~~h paragraph 14 hereof. Such nohce sha)I prov~de a period of not less than 30 days from the date the no~ice is mailed wi~hin which Borrower may pay the sums derlareJ due. If Borrov-er (ails ~o pay such sums prior to the expira~ion of euch per~od. Lender may, without turther not~ce or dcmand on Borrower. ~nvoke any remediu permitted by paragraph lA hercot_ NON-UNIFORM COVENANTS Borrower and Lender tunher covenant and atr~e ~lows: 18. Acceleration; Remedks. E:cep as provided in p~n~raph 1'f IK-eot. npoe Sorrowers breacM of u~y covena~t or asrcemeat of eorrower in this MorlgaRe. iacludin~ Ibe co~caanls to pay wl~en d~c ~uy so~ws secured by tbls MoNRaRe. i.eudtr prior lo accekntbn shdl mail ootice lo noRO~-cr as provWed In para~rsph 14 hertot specNyin~: (1) tUe Ort~cA: ltl ~he aetlo~ requlred to core such bresch; (3) s dste. nol less Ihan 30 da~s trom the dale the notke b maikd to Sonor.er. br wAkh srcU b~cacA mwt be- cored: and (4) IAst (ailure lo cure soch bre~eh oa or betore 1he dMe specil'ied is the notke msr resuh i~ accekntion of tbe san~s secured by Ihis MortRaRe. ~o-ccbsun by jndicial ~oeeedin~ n~d sde ot the Propcrry. The notke shdl further infonn eonower ot tht ri~ht to rtlnststt stlcr ~ceckrstioa snd tbe ri~At to a~ert ie the toteclosrrt poeeedf~ tbe ewn-exiqence of a defauN o~ sny olher defence ot dorroMer to accekratbn aad tortclo~et. It the bnsc~ is sot coreA a~ or betore the d~te specified in the notice, /.ender at t.ender's ~tios nuy Aeclare sp ot the ssms ~enr+cd by tAis MortRa~e to be immediately dut ~nd psrablt witM-ul tur~hcr dtmand ~nd mar tonclost tAk Mo~att by j~kW ~oteedinR. I.endt- ahall be entiHed to collecf in socA proceedie~ all expenses of toreclox~re. inelodi~. ~t ~ot Ymitd to. reasonisle s~t•-rner's fees, and costt ot doc~meshry e~idence. sbstrscts and ~itle reports. 19. donvwers RiRht to Rtinstate. No1w~~h~~rndinF 1 ender's accelerot~on o/ the sumt ucured by ih~s Mohgagt. Borrower shall havt the right ~o have am prexerd~nc• MFun b~ Lender to entorct 1~~~ M~rlgaqe dncontinutJ a~ an~ I~mt - i ~ - - :,-~.:~ -- .=.~ 6r}r~jX 3~6 FaCt ~ / 4