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Home My WebLink About0532~ .~ . ,~~ ` ~.~ ti LcnJcr'c wnltrn agreemcn~ ar apphr•rhle I~w. Rarrowe~ shall pay thr amuunt uf all m~~rtgagr imu~anre pn:miums in the manncr pruvidr~l under paragraph 2 hereof. A~ amuunl~ d~~h~i~~cJ hy I.cn~lcr pur~uarl tu Ihis par.~k~:~ph 7. w~ih u-Irrr~t ~hereun, thal) t+ecome addiliona) in~khicdm.~ uf N~-rruN~~ ~rri~rrd hy ihi~ Motlgagc Unir.~ H~~rriiMCr an~l I rnJcr aRrrc t~ ~Ihcr termc iif paymcnl, tuch am~~uM~ ~h~ll Fx pa~'ahlc u~m n~,~irr fr~•m 1 rndr~ ~u Ilurruv-rr reyiie~ling p:~~mcn~ thq~f~ anJ ~hyY hea~ interett fmm the d:~te ot di~hurkment at ihe rate payahlr fmm time to t~me on nuiclanding principal dndcr ~he Note unlecc payment ot interect at such rate waufd M~ conlrarv t~~ applirable law, i~ whirh event tuch am~un~c tihall hrar inlerect at the highest rate permiuihle under applicable Iaw. Nulhing c~~ntaineJ m th~c par.~graph 7 chaD reywre Lrndcr ta incur any expenst or take any action hcrcundcr. 8• laspection. I.ender may ma{,c or.:~u,e ~~~ Fx made rea~onable eMriec upon and inspectionc of Ihe Proputy, provided tha~ 1 ender shall give Aorr~wer nahrr p~inr ~~~ any ~uch incpec~ion epeci(ying re~sonable cause thercfor related to l.ender's ~nterest in Ihc Propcrty. 9. Coademnatbn. The pnxeedc of any award or claim for damages, direct o~ co~sequential, in connoction with any condemnation or other taki~g of Ihe P~apeny, ar part thereof, or far conveyance in lieu of condemnation, are hereby assig~ed and shall be paid to Lendtr. in the event of a tota) laking of Ihe Pmperty. Ihe pnxceds chall be applied to ~he soms secured by this Ma'taage. with the exc~ss, if any, paid to Borrower. ln ~he event of a partial taking o( ~he Property, unlexc Borrower and Lender athenwise agrce in writing. there ihall be applied to ~he sums securrd by Ihis Mortgage coch proportion of the proceeds as is equal to that propoNion w•hich the amounl ~,( the sumc ucured hy this Me-rtgage immcdiatety prior to the date ot taking txars to the fair market valuc of ~hc Pmpcrtv immcdiatcly prior to the date o( taking, with the balance of the procetds paid to Borrowcr. ' if the Property it ahand~ncd bv A~~rroK•rr. ~r.if after n~~ice hv 1 end~r to Aorr~w•er ~hat ~he candemnor o(fers to make an award ~r ~ettle a claim (or J:~m:~~c~. Rorr~~w•cr Lul. t~. rc.~x.nd t~ I c~der w~ithin z0 days af~er the date such notice is maded. l.ender ic authori~ed to collec~ and ~pph• ihe prc.ceedc. at I.ender'c option, either to rectontion or repair of the Propcny or to ~he sum~ ~ccurcd by ~hic Mortgarc Unlesc t.e~ider and Borrower Mhen~r~ce a~ree in wriUnc. any siKh applicalic~n of prtxetds to printipa) shall not extend or poctpone the dur. Jate a( the monthh• ~nclallmen~c rcferred lo i~ parag~aph~ 1 and 2 hercof or change the amount of cuch installmentc. 10. Eormwer Not Rclczsed. Fxtcnsion of thc timc f~.r paymcnt or m~dificatian of amortization of the sumi securcd by thic Mortgage granted by t ender to any cucetca~r ~n intereet of Borrower ~hall not operate to rclease. in any manner. the liability o( Ihe original Borrower and Bc~rrovrcr'~ succes~or~ in interest 1 enJer ~hall not be rcqoired to commence pr~ceedingc against such suttessor or retuce to erlenJ t~me tor payment or othen+~i~e modi(y amorlization of Ihr wms ~erured by thic Mongage hy rcau-n of any demand made by the orieinal Rorroeve~ a~d Horrower's successors in in~erect_ ' 11. Forbeannce by I.ender NM a Wdver. Any f~rhearance hy l ertder in e~ercicing any right or remedy hercunder. or othervviu afiordeci by applicable law, shal! nM tie a waiver ot or prcclude the erercise of any such right or rcmedy. Thc procureme~t of inturance pr the payment at taaes or other liens or chargec by Lendrr chall not he a waiver of [tnder s right ~o accelera~e the maturity of the indehtednecs cecurcd hy thic MortgaRe. 12. Remedies Cumulati~e. All rcmedies provided in this Alortgage are dis~inct and cumulative to any olher right or remedy under this Martgage or aBorded by law or equity. and may he eierciced concurrently, indtpendently or succtuivtly. ' 13. S~ccessors and AsaiRos Bound; .Ioinl and Serersl I.iabiNry; CapHons. The :ovenants and agreements hercin comained shall bind, and the riRh~c herciinder shall im~re to. the respective succecu~rc and atsigns of 1_ender .at~d Borrower. subject to Iht provisionc ot paragraph 17 hereo(. All cavenants and agreemen~~ ot Borrower shall be joiry and several. The captions and headinRc of the paragraphc of ~hi~ Mortgage are fc~r convenience only anJ aro not to be uced to ~nterprct or deBne Ihe provicionc hereof. 14. NWke. Except for any notice reyuired under applicable law to be given in another manner, (a) any notice ta Borrowe~ provided for ~n Ihis Mortga¢e chall tx g~ven hy mailioR ~uch nol~ce by cerlified mai) addrecud to Borrowtr at the Property Address or at such othcr addres~ as B~~rmw~er mav devgnatc b}• nniict to 1 ende~ as provided herein, and (fi) ~ny notice to Lender shall he given by certifieJ ma~l. ret~~rn receipt reyue~ted. to 1 ender s address s~ated herein or to cuch other address as I.ender may deci¢nate by nntire t~~ Borre~wer as p~~~~de.i hrrein. Any notice provided for in this Me~rtgage shall be deemed to havc F+een ~~ven ~a Rormv-er ur I cnder when g~ven in ~he manner decignated herein. 1S. Unitorm Mort~a~e: Governin~ I.aw; Se~erability. Thn t~sm ot mortgagt combines uni(orm covenants for national use and non-uniform cm~enamc wilh Iimi~rJ vanaU~~nc h~ j~~r:cdiction to rnnstnute a uniform security inslrumenl rnvering real properly. Thic Martgage shall be governed h~• the law of the juricJ~clion in which the Property is located. fn tht event ~hat any provision or clause of thic M~rtgace ~•r the T~~~te c~nfliclt w•e1h applicable law, such conflict shall not afieet other provisions of th~s Mortgage or Ihe Nnte wh~ch can Fx grven efiect wiihout the conflicting provi~ion, and to this end ~he provisions of ~he Mortgagc and ~he 1I~~~r arc Jccl~red to he uverable. - 16. Eorrower's Copy. Borrower shall tk furni~hed a c~~nformed copy of tht Note and of this Mortgage at the time of execution or a(ter recordation hereot. 17. Transter of the Property: Atcumption. 1f all ~r an}• part of the Prnperty or an interest therein ic sold or tnnsferted by Borrower w~thout Lender's pnor wn~irn ~~~ment. e~cluding lal tht creation c-t a lien or encumbranct subordinate to thit Mortgage. (bl the creahon of a purch~.r m~~ne~• cecuritv interest (~r houuhold appliaoces. (c) a Iran~(er hy devise, desceM or by operation of law upon Ihe Jcath ~f ~ p+~nt lenant or (Ji Ihe gnnt of any leasehold interesl o( Ihrce ycars or kss not contain~ng an aption ta purchase. I.ender may~. at 1 ender'~ ~pti~n..de~l.~re :,II ~he tums ucured by ~his MoNgagt to be ~mmed~ately due and payahle Lender chall ha~e w.~~.ed wch option ~o :ucrlrrate i(. prior 1o the cale or transfer. I_ender and the person to whom the Proper~y i. t~+ bc .~~I.1 ~~r trans(errcd reach .~grr~ment in wribng that Ihe credit of wch percon ~s satisfactory• to LenJer and Ihat the in~e!r.~ payable on the sumc ucured by Ihis Morlgage sha!I be at such ralt ac l.ender shall request. If I_ender has waived the op~ion to accele~ate provided in this paragraph 17, and if Borrower'~ succeswr in ~nterest has executed a wn~ten assump~ion agreement accepted in wri~~ng by I.en.kr. 1_eneier shal) rtlcace Bo~rower from all obligat~ans under this Mortgage and the Note. If I_ender exe~cixs such opt~on ~i• accelerale. l.enJer ~hall mail Borrow~er notice of acceleration in accordan~c a~ih paragraph 14 hereof. Such not~ct ~hall provide a pericxi of no~ less than 30 days (rom ~he da~e the notice is mailed wi~hin which Borrov-er may pay the sumc decl~reJ due. It Borrower fail~ ta pay such sums prior to the expira~~on of auch ~-er~~d. Lender may, wilhout fuAher nol~ce or dcmand an Borruwer. ~nvoke any remedies pcrm~tted by pangnph 1 R hercnf. NON-UNIFOIIM COVfNANTS Borrower and i_ender further covenant and agree as follows~ 18. Accekrslioa; Remcdks. Ezcept as provWcd ia pan~nph 17 hereot. upos eorrowers breach of ssy co•casut or atreement ot Borrowcr in this ;-1ovtRs~e.lncludin~ the covenaats to pay wben dnt any sums secured by thls Mort~a~t. I.endtr prbr lo accekration shdl mait ootice to donower as pro~ided In p~rasrsph 11 hereo( specityin~: (1) the bn~ch: /211he setb~ requfnd to cure snch brescb; (3) a date. nolless Ihan 30 days from Ihe dNe Ihe notice B mdkd to eorrower. by r•hkh sre~ Mcach must be cored: and (1) that failure lo core srch sreuA on o~ be(orc Ihe dNe sPecificd in the nolke n~~y result i~ •ccekntion oE t~e sums secured Dy 1ha MorlRa~e. foreclown by judicid proceedfn~ ~nd sale o/ the Prope~. Thc notice shdl turther intorm do~rower of Ihe rq~h1 lo ninslsle Nler scctkntion and Ihc ~bl to assert in tbe foreclosurt ~r~oetedi~ tbe non-existence ot a defauN or any Wher defense of eorro+ner to sccckrstion snd torecbsote. It 1he b~cseh is not crred o~ or bcfore the date sPecified in thc noticc. l.ender ~t I.rnde-'s opliow mar declue s0 ot the snn~s secrred by thfs MortRaRe fo be immediattly dut snd paysble wilhout tuAher d~m~nd ~nd ~nsy toretlost tAis Mo~~e by j~dicW protetd{nR. I.ender sAall be eotitled to tolltei in wch proctedinR a0 txpenses ~~t foretlosurt. inclndi~. bnt nM Umiled to. nason~ele a~~•,rnev's fees. and costs ot docuwunhry e~idence. abstrscts and ~i~le ~eportc. 19. aomo.~e~s Ri`ht to Reinstat~. '~iotw~th~iend~n~ I ender's accelerahc-n of the sum• ucured by th~c Mortgage. Borrower shall have the right ~~. havt am pnxerd~nr. hr~un b> L~nder to tnfc~rce Ihi- ~L•x~Raqe dnc~nl~r.ued a~ an~ hme a~nx346 PacE ~`3Q ~ ~_o- _ _ _ . _ - _ :: - _ : ~~ ~ <~ - - ~~-~ ~.~~ .