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Home My WebLink About0419~ ~ ~ ~ ~ - ~~ ` 1 cndrr'c wntt~~ agrecmcnt ar apphcablc law. l3orrc-wer shall pay the amount i~[ all mohgage inwrance premiums in the mannrr pr~~vidr~l undcr pa~a~;taph 2 herco(. Any am~~unt~ di.hur.cd hy I cnilcr pur~uanl lo ~his pa~~graph 7, wi~h inlcrcct therci~n, chal) t+ecome additianal inJrMcdnc,~ ~~f N~~rri.wc~ ,ccund by th~. Munga~c Unlc.~ Bormwcr anJ I rnJcr agrec to olhcr lerm~ ot payment, tuch am~.um~ ~hall tx pavahlc eiM~n n~airc fr~~m 1 cndrr 1~~ &~r~uwcr rcyuctiting paymcnt thcre~-(, anJ chall hea~ interett from !he datc ~f di~hurumcnt at thc ratc pavaMr (rom time to time un ~ulslanding principa) under Mc Note unlexc psyment of interest at iuch rate would he contrarv ~~~ applicable law, in which event ~uch amounlc shall hear i~terest at the high:.st nte permissibte under applicable law. Nulhing am~:+ined m thic paragraph 7 chall ~equirr I.ender to incur a~y ezpense or take any action hcrcunder. 8• laspectioo. 1.enJc~ may make .~r c:~ene to he maJ~ ~eaconahle enlriec u~n and iospections of the Property. provided thet l.ender shall give Borrowe~ n~~~ice pri~~r ~a any wch mspect~on specifymg reasonabk cause iherefor relatod to Lender's intercc~ ~n Ihe Property. 9. Coademnation. The pnxccdc ~.f any award ar claim for damag~s, direcl ar toostquential, in connociio~ with any condemnation or other taking af the P~operty, or pa~t thercof, or for conveyance in lieu ot condemnation. are hereby astianod and shall be paid to i~nder. in the eveot of a tot~l taking of the Property. thr pr.ocecds shall be applied to the s~uns securcd by Mis Mort6age. with the ercess, if any, paid to Borrowcr. In the evrn~ of a panial uking of the Property, unless Bon~owe~ and I.ender otherwise agree in writinR. there shall he applied ~~ the cumc securcd hy this Mortgage such proportion of tht proooods as ic equal to that propotiion w•hich Ihe amount o( ~he sumc ucared by this Martgage immediately prior to the date of taking hears to the tair markel value of the Property immediately prior ta the date af taking, with Ihe balance of the procetds paid to Bormwer. . lf the Property ic ahandoned h~• BnrroweF. ~r if af~er notic~ by l.ender to R~~rrower that the condemnor oRers to mate an award or cetlle a claim f~r dam:~ce+. R~~rn.wer t~~l. ta re~~nd to I.ender within i0 days after the date such notice is ma~led 1_enJer i~ authoriicd to collect and apply the prcueeds, at l.ender's option, either to restontion or repair ot the Propcr~y or to the wm~ .ccurcd hy thic M~r~~agc. Unlesc 1 ender and Borrow•er othervv~ce agree in w•rit~nF. any-such application of proceeds to principal shall not exta-d or poclpont the due date o( Ihe monthl~• inclallmenls rcferred to in parag~aphc 1 and 2 hereof or thange the amount of cuch inslallmentc. 10. Borrowe~ Not Rekased. Extencion of the time for payment or mc-dification of amortezation of the sums secured by thic MoN~age granted by l.ender to any cnccecsor in interect of Barrawer ~hall not operate to rcleau. in any manner. tF-~ liabdity of the ori¢inal 8orrower and Bc~rrower ~ successor~ in inttrest. I.ender shall not b~ rcquired to commence pr~ceding~•aga~nst such successor or rcfuse to etitend time for payment or otherwiu modify amortizat~on of the sums ~ecureJ hy thic Mortgage by rcason of any demand made b~ the orieinal Horrov-er and Borraw~ers successors in intercst. 11. Forbeannce by l.ende~ Not s Wdrer. Any f~rhearanct by l.ender in e~ercising any right or remedy hereonder, or othenvix afturded by applicahle law. shall not tx a waiver ot or preclude the cxercise of any such right or remody- The procurement of iniurance or the payment of taxes ar ather liens or charges by I.ender chall not tx a waiver ot l.enders right to accelerate ~he mawrity of the indehtedness secorcd hy thic Mortgage. 12. Remedies CumulaBre. All rcmedia provided in thic Mortgage arc distinct and cumulative to any other right or remedy under Ihic Mor~gage ar aBordcd hy law or equi~y, and may he exerciud concurrcntly. independenUy or successively. ' 13. Succcssoa and Assi~as Bound; .loinf snd Several l.isbilify; Capfbns. Tfie covenants and agreements herein contained shall hind, and the riRhtc hereunder shall inure to. ~he recpective succesu~rs and assigns of Cender aod Borrower. subject to the provision. ot paragraph 17 hereof. All covenants and agrcements of Bo~rower shall be joiry and sevenl. The captions and headings of the paragraphc of Ihic Mortgage arc for comenience only and arc not to be uced to interpret or define the provitionc hereof. ~ ~ 14. Naice. Excep~ for any notice rcquired under applicable law• to lx given in another manner, (a) any notice to Borrower provided for ~n thi.c Mortga¢e shall be g~ven by mailing such notice by cerlified mail addresud to Borrower at Ihe Property Addresc or at cuch other addresc as Borrower mav designate by notict to T.ender as provided he~ein. and (bl any notice to Lender shall he given by certified mail. return recapl requected. to t ender s addrcss stated htrein or to such o~her address as I_ender may deaignate h~• n~tire tr Borrower as provided herein. Any notice providtd for in this Mortgage shall be deemed to havc heen g~ven to Bora~vrer or I.cnder .+•hen g~ven in Ihe manner detignated herein. 1S. Uni(orrn MortRa~e: GoverninR Iaw: Se•erabilil~~. Thic (orm of mongage combines uniform covenants for national ux and non-uniform covenam~ with IimitrJ vareation~ h~ ~:~ri~diclion to constitute a uniform security instrument eovering rcal property. This Mortgage shall tx governed b~• ~he law of the jonsdiction in which Ihe Properly is located. In ihe tvent that any provision ~r clauce o( ~hi~ Mortgage ~r the Nc.te conflic~s veith applicable law, such conflict shall not aRecf other prov~sions of thic Mortgage or the Nntr wh~ch can he g~ven ~fiect without ~he conflic~ing provision, and to this end the pravicions af the Mortgage and the Note are declared to tx severable. 16. Eorrower's Copy. $ormwer shall f-c lurni~hed a conformed copy of the Note and of lhis Mortgage at the time oF execution or after recordation hereof. 17. Traasttr ot tht Propertv: Acsumption. If all or any part of ~he Property or an interest ~herein ii sold or transterted by Borrower w~lhout Lender's pn~r wn~nn i~.ncen~. e~cluding fal the crcation of a lien or ~encumbranct subordinate !o th~s Mortgage. (b) ~he creah~n of ~ pur.h~~c m~~ne~• ~cun~y in~erest fc-r household appliances, (cl a tranc(er hv devise. descent or by operation of law upon thc death of a ~~ant tenam or (c1i the grant of any leasehold inttrest of thrce ycars or ltss not contaimng an op~ion lo purchast. l enJer m~~. at I.ender'~ option, derlare all ~he sums seSUrtd by this Mortgage to be ~mmed~ately due and payable 1 rnder tihall have N.uved such opUOn 1o a:cclerate if, prior to th~ cale or transfer. Lender and the person to whom the Praper~y i, t~~ t-c .ol~l ~-r ~ransferred reach agrermen~ in writing that the creJi~ ot ~uch person is satisfactor}~ to [.enJer and lhat 1he imrrr.i pa~ ~bk on the sumc ucured by Ihis Mortgage shall be at soch rate ac I_ender shaU reques~. If LenJer has waiveJ the op~~on tu accelerate provided ~n this paragraph 17, and if Borrower'~ wccessor in interest hac executeJ a wntten ascump~~on agreemem accepted in writing by i.ender. Lender shall release Borrower from all obligations under this Mortgage and thc Notr. . If 1_ender exercises cuch option t~. acceler•rte. I.enJer tihall mail Borrower notiee of acceleralion in accordanc~ ~ith paragraph 14 hereof. Such not~ce chall prov,de a pericxi of not less than 30 days from ~he date the notice is mailed wi~hin which 3orrower may pay the sumti declered due. I( Borrower fails io pay such sums prior to ~he expiraUon ~( ~uch peric~d. Lender may, without further nohce ~r dcmand on l3orrower. mvoke any remediu permitted by paragraph Ift hereof. NON-[iNIFORM COVENANTS Borrower and t.eoder turther covenant and agree as follows: i8. Accelerstion; Remedies. Ezcep as provided in pan~raph 17 hereot. upoo Dorro~+tr's brestw o1 awy cortw~wt or a~recment ot Borrower in this MortRa~e. includin~ /he corensnls lo pay when due ~ay snms secured by Ihfs MortR~e. I.tnder prior lo scceleratbn shdl m~il notice to doRO~+er as provided In pars~nph 14 Atrtot specf(yini: (1) the Mr~cA: 121 ~he scliow nquired to eere snch bnach; (3- a date. not kss Ihan 30 dsys from the date the notke b msikd to donower. by whkh sueA b~each must be cnred; snd (1) Ihat failure Io cure soch bre~cb on or before Ihe dMr speclfied fn the nolke msy resdt i~ accekration of tbe sums securcd by ~his MortRaRe. foreclosure by judlcid pwceedf~ ~nd sale of tbe Prope~ry. 71~e eolk~e shdl furtber i~(orm eormwer of Ihe ri~ht to rei~hte dler scctkrstbn snd tbe ri~bt 1o asscrt ie the torcclosnee ~oceeai~ tbe non-txistence of a defauk or any Mher defense ot Borroaer to aecekrstbn ~wd toreclosrre. It the breicA is nof "c~tea ow or before Ihe date speci6ed in the notice, l.ender a~ l.rnder's optfw~ n~ aeclart d~ ot the sr~us tetrred bp tbb MoRRaRt Io bt immediately due and payable wilhoul turther dem•rnd and ~nay tortclose this Mo-l~a~e by judkW Proeetdiu~. I.ender shall be eotitled to colleet in such proceedin~ a0 e:peoses ni (oreclosure. lexlndie~, but wot Umited to. nason~bk a~~~xnev's fees. snd cosls of docwnentary e~ldence, abstrscLc ind ~i11e nports. 19. dorro.+e~'s RiRht to Reinstate. Notw~Ih~t~ndinK 1 ender's accelerat~on ot ~he sums xcured by th~t Mongage. Borrower shall have ~he r~gh~ to havc am pnxerd~nc. tk~~~n by Lcnder to ~n(orce IA~+ M~ngaqe dnconlmueJ at ~ny ~imt - ,,;.-~: _ ~ . _ °= - --=~~.~:~~ - ,~__...,... . _.. a~~~K 346 p.Gt 417 ~ - ~_ ~~