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Home My WebLink About0446..~#~~ - ~ r •~ + .~ ~ i ~ t r~dc~c w~~ucn agnemcn~ or appl~rable law. Horrawe~ shaU pay thr amuunl of all mortKagc imuranre pmmiums in the maonrr pruv~dr~l undet pa~agraph 2 hcrco(. ~ /~ny amuuiNc di~hiu~cd by Lcn~lcr pur~uant ~u Ihis paragr~ph 7, w~ih ui~rre~t ~hc~eon, chall hccome sdditional indrhtedn~~c n(•Nurruwcr ucurcd hy ~hi. Mor~gagc Unlc.+ Rurmwcr an~l I~~ilcr akrc~ tn Mhc~ Icrnic ot paymcnt, cuch amouMti chall Ix pavaMr u~x-n n~~tirr t~~.m 1 rndcr tu Burrowrr rruuc.~ing paymcnt Ihcrr~~(. and ~hal) hear intcrcc! fmm tht da~e ol dichu~umc~1 at ~hc ralc payahlc (mm timc ta ~imc un ou~c~anding principaR ~nA'~qr the" Note unlesc payment ot interes~ at such rate wou1J t+e conlrarv to applicable law, in which event ~uch amountc ~hal) F+ear interect at the highest rate pe~miuibk u~der applicable law. Nulhing r~~ntained m thic pa~agraph 7 chall reqoire Lender ~o incur any ezpenu or take any action hereunder. s. laspectioa. I.ender may ma{,e ~•r ca~~.r ~01-r made reasc~nabk en~riec u~n and inspectionc of the Property, provided th:.t I.ende~ shall give &~rrower n~-t~cr pri~-r i~- anV wch intpecn~n specifying reasonable cause thercfor rclated to Lender's inte~esl in the Propcrty. - 9. Cosdemnstioe. The prc~ceedc ot any award ar claim for damages, dirce~ or conuquential, in eonnection with any condemnation or dher taking af the Propehy, o~ pan thercof, or for conveyance ih lieu of condemnation, arc hereby assigned and shall be paid to Lender. In the event of a tdal taking of the Propeny, the prc~ceeds chall be applied to the cums securcd by tfiis Mo~taage. with the excess, if any, paid to Bcxrower. ln ~hc event of a partial taking of ~he Property, unlest Borrower and Lender otherwise agree ii writing. Iherc shall be applied to the sums secorcd by this M~+~tgage such pmportion of the proceeds as is equal to that proporiion w•hich the amount ot ~he sumc ucured by this Mortgage immediately prior to the date ot taking bean to the fair market value of Ihe Propcr~y immedialely prior to ihe Jate of taking. wi!h the halance of the proceeds paid to Borrower. If the Property ic abandoned hy B~-rrowcr, or if after noticc hy I.cnder to Rormwer that the candemnor oBen to make an award or ~eule a claim fo~ dama~e~. B~~rrower fail. ~o re.~nd lo l.ender wi~hin i0 dayc atter the date such notice is mailed. l.ender ic authoriaed to collect and appl~~ ~he proceedc. at 1_ender c oplion, either to restoratian or rtpair of the Propeny or to the sum~ .ccured hy ~hic Mor~gaFe. ~ Unlese I.enJe~ and Borrow•er athervvicr agree in writ~nc. a~y such application of proceeds to principai shall not estend ar ~xxtpone the due date of thc manthlv inctallmcnls referred to in paragrapkt 1•-and 2 hereot or change the amount oE such installments. 10. Eorrower Nof Rekased. Extension of the time (or payment or mexiification of amortization of the sums securcd by Ihis Mortgage granted by l.ender to any cuccecsor in intere~t of Borrower ~hall not operate to rcltase. in any manner. the liability of the original Bonower and Borrower i succes~orc in interetl. l.ender si~all not be required to commence pn,ceedings againu such successor or rcfuse ~o ectenJ time for payment or o~herK•i~e modify amortizahon of ~hr sums serured by thic MoAgage by rcason of any demand made b~• the orieinal Borrower and Borrower's successors in intercct. ' I1. Forbesrance by I.ender NM s Waiver. Any forhearance by I.ender in eretri~ing any right or remedy herc~mder, or otherwise affordeJ hy applicable law, shall not be a waive~ of or preclude the exercise of any ~such right or remedy. The p~ocurement of insurance pr the payment of ta+ces or other liens or chargec by I_ender ~hall not he a waiver of Lender s right ta accek~ate the maturity of the indehtedne~s cecurcd hy thia MartgaRe. 12. Remedies Cnmulsfire. All rcmedies pravided in thic Mortgage are distinct and cumulative to any other right or rcmeJy under Ihis Martgage or aftordcd by law or equi~y. and may be exercised eoncurrendy. ind~pendenlly or successively. ' 13. Snccessors snd Assi~ws Bound: Joi~l and Several r.~~~iry; Cspfb~. The covenants and agrcements herein contained shall hind, and the riRhts hereunder sAall inure to. the rc~pective succescon and assigns of Lender aod Borrovrer. subject to the pravisionc of paraRraph 17 hereof_ All covenants and agreementc of Borrower shall be jairy and uvenl. The captions and headings of the paragraphc of ~hic MoNgage are for convenience only ~nd are not t~ be u~ed to inlerpret or de6ne the provisionc hereof. 14. Naice. Except for any notice required under applicable law• to be given in another manner, (a) any notice to Borrower provided for in Ihis Mortga¢e chall bt giveo by mailing such noUce by cr~tified maii addresced lo Bormwer at the Property AJdrtss or at such other addresa as Burrower mav decignate by naicr to I.ender as pmvided hertin, and (hl any notice to Lender shall he given hy cenified ma~l. return receipt reyueued. to 1 ende~ s address stated herein or to cuch other addrcn as I_ender may decienate b~~ n~~ire to B~rrnvrer as prov~ded hcre~n. Any notice prrnided for in this Mortgage shal) be deemed lo havc been g~ven to Rorro..tr ~~r I.cnder when given in ~he manner decignated herein. 1S. Uniform Mort~a~e: Governin~ Law; Se.erabilil}. This tarm of morigage c~mhines uniform covemnts tor nationa) ux and non-uniform covenani~ with limited vanahonc h~ jur~cd~ction to constitute a uniform secu~ity instrument covering rcal property. This Mortgage shall be go;rerned h~~ thr law• ~f the junsdiction in which the Property is located. In the event that any provision or clauce of Ihic M~rtgaec ~•r ~he tiote conflicts v-•i~h applicable law, such conflict shall oot affect o~her provisions of this Mortgage or ~he N~~tr which can be given eBect without the conflicting provician, and to this end the provisions of ~he Mortgagc and the 'Vo1r arc .kclared to tx averable. 16. dorrower's Copy. Borrower chall be furni.hed a contormed copy o( ~he Note and of thic Mortgage at the timt of eiecution or after recordation hereof. 17. Trsnster of the Propertv; Assumption. if all ~r an}~ part of Ihe Property or an interest therein ic soid or transferred by Borrower without t_ender's prior wrm:n ~oncen~. ercluding la) ~he creation of a hen or encumbrance subordinate to this Mortgage. Ibl ~he creahon o( a purch~ee m~~nr~ eecurit}• mterest t~r houuhald appliancec. fe) a ~rancter hy devise, descent or hy ope~ation of law upon thc dcath ~i r j~~~nt tenant o~ (di Ihe ~rant of any leasehold intercst of thrrc ycars or less not containing an option to purchase. ( ender may. at ! ender'c opl~on. declere all Ihe sums secured hy this MoAgagt to be immedbately due and payable 1 ender thall ha~e w.uved cnch ophon to a.~_~Ieratt if, prior !o ~he cale or transfer. Lender and the person to whom Ihe Property i. ~a be .ol.l ~.r transferred reach agrc~ment :n wn~ing that the credit o( wch person is satisfactory to 1_enJer and that the inter~.t pa}able on the sums ucured by this Mor~gage shall be at s~~ch ra~e ac 1_ender shall request. If I_ender has waived the opt~on ~o accelerete previded ~n th~s paragraph 17, and if Borrower'> >uccessor in interat has e~ecuted a wntten assump~ion agrcement accepted in writing by LenJer, Lender shall ydeace Borrower (rom all obligat~ons under this Morfgage and the Note. If Cender exercises such opuon ~c. acceterate_ Lender ehall mail Borrower notice of accderat~on in accordanc< <~~ih paragraph 14 hercof. Sucb notict chall prov~de a period of no~ less than 30 days from Ihe date tht no~ice is mailed within whicA Borrower may pay the sums declared due. If Borrov-~er fads to pay such sums prior to the eapintion of wch penc~d. Ltnder may. wi~hout further not~ce or dcmand on Norrow•er. ~nvoke any remedies perm~Aed by paragraph IR hercof. NON-UNIFORM COYENANTS Borrower and l.ender turther covenant and agree as follows: 18. AccekRtioa: Ranedks. Bxceq as provWed in pan~nph 17 bcreof. d~ s~.n..~r: eKK~ or .wy ~o•~~~ or a~reea~eat of eorrower in thts MortRsRe. includinR the corcnsnts to par wAen due any sums secu~ed Dy thk MorlRaRc. I.tndct prior to ~ccekrstbn shall mail notice to dorrower as provWed In pars~raph 11 hcreot specityiua: (1) the breicA:1211hc ~etbe required to core soch breach;l3) s dste. not ksa tAan 30 days trom tbe dsfe the notice Is mdled to dorror.er. by whkh srcM b~each mnst be cored: aad (4) tbat tailure lo cure st~ch breacb ow or betoro Ibe dNe specil'ied in the notke n+sy resuh h accekrstiow oE Ibe snms xcund by this Mort~s~e. forccbsure by judkial Proccedin~ and sak ot the Prope~. 7?~e nalke shall further inform dorwwer of the riRht to reinstate at~er accekratbn ~nd thc riRht lo a~e~l in the toreclosure proceedi~ the noa-e:islence ot a defauk or any Wher defense o~ doROr-er to accekrafion ~nd torecbsure. H tAe erescM is nof cre~t~ o~ or before the date speti6ed in Ibe notice. t_ender al I.ender's opliow msy declart sq ol the srn~s sec~red by this MortRaRe fo be imntediately dut and psyible withoul turtbc~ demand and msr torectose thk Mort=a~e Sy judklsl proceedinR. I.en~er chaN be eotitkd to cdkef in sxch proctedieR an t:penses ot foreclosurt. includin~. ent sM Umifed to. reawnibk st~•rrnev's fees. •Ild ~OS~S O~ dOCYlAtA1~ tY~At11Ct. abstracts snd ~itk rcports. 19. Eonoaet's Ri`ht to Reinstate. Notwrth~t~ndin~ I endtr's accelerat~on of the sume ucured by ~h~s Mongage. Borrower shall havt ~he r~gh~ to have an~ ~~Me«i~~L. hrFa~n by Ltndcr t~ cnt~rce thi. A1~rtgaqe d~tirnnl~nucJ at an~ t~me - -- ~ = y ~ ,~'~:, .. _ . . B~OK346 P~~E 444 ~ - - ;~' z..~.H-~~~' `