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Home My WebLink About29051j ~ . . ~ • ~ ~• .1 ~ ~~ ~' ~ ;~11i? Lenders wiilten agreeme-)t or appticable law. Borrower shatl pay the amount ot all mortgage insurance premiums in Ihe manner p-ov+ded under paragraph 2 hereot. Any amounts d~sbursed by Lender pursuant to this paragraph 7, w~th ~r:terest thereon. shalt become add~honal ~ndebtedness ot Borrower secured by th~s Mortgage. Unless Borrowe- and Lende~ agree to olher terms of payment, such amounts shall be payable upon notice irom Lender to Borroher requestmg payment thereot. and shall bear ~nterest irom tne cfate ol d~sbursement at the rate payable from time to t~me on oulstanding pnncipal under the Note unless payment ot ~nterest at such rate would be cantrary to appl~cable law, in which event such amounts shall bear ~nteresl at Ihe h~ghest rale perm~ss~ble under appl~cable iaw. Noth~ng contamed :n Ih~s paragraph 7 shall reqwre Lende~ to ~ncur a~y expense or take any act~on he~eunder. 8. Insp~etlon. Lender may make or cause to be made reasonable entr~es upon and mspecl~ons ot the Property. prov~deci that Lender shall give Bor-ower not~ce pr~or to any such ~nspection spec~fy~ng reasonable cause theretor related to ende~s ~nte~est ~n the Propert~. -.. 3 9. Condemnation. The proceeds of anyaward o~ cla~m tor damages, d~recl or consequent~a~, ~n connect~on w~th any conaemnat~on or other taking of the Property. or part thereof, or for conveyance ~n I~eu ol condemnaron, heseby ass~gned and shati be pa~d lo Lender. In the event of a total lak~ng o1 the Property, the proceeds shali be appl~ed to the sums secured by th~s Mortgage w~th the excess. if any pa~d to Borrower In the event ot a part~a! takmg of the Property unless Borrowe~ and Lender othe-w~se agree m wr~t~ng, there shall be app~~ed to the sums secured by Ih1s Mortgage such proport~on ot the proceeds as ~s equal to that proport~on wh~ch the amount ot the sums secured by th~s Mortgage immed~ately prior to the date ot tak~~g bears to Ihe fa~r market vaiue of the Property ~mmed~ately pr~o~ to the date of tak~ng. ~wth Ihe batance ot the proceeds pa~d to the Borrower. If Ihe Property ~s abandoned by Borrower, o- ~I, after not~ce by L•ender to Bo~rowe~ that the condemnor otfers to maKe an award or settle a cla~m for damages Borrower ta~ls to respond to Lender w~th~n 30 qays atter the date such not~ce ~s ma~ied. Lender is authonzed to couect and appty the proceeds, at Lender s opUOn, erther to resloraUOn or repa~r ot the Property or to the sums secured by th~s Mo-tgage. Unless Lender and Borrower otherw~se agree ~n wnt~ng. any such appl~cat~on uf proceeds to pr~nc~pal shall not extend or postpone the due date of the monthly ~nstallme~ts referred to +n paragraphs 1 and 2 hereol or change the amount of such ~nstallmeMs 1 O. Borrower Not Rslsased. Exlens~on ot the t~me lor payment or mod~f~cat~on ot amort~zat~on of the sums secured by th~s h~ortgage granted by Lender to any successor ~n mterest ot Borrowe- shall not operate to retease. ~n any ma~~ner. tne t~ab~l~ty ~t the ongmal Borrowe~ and Borrowe~s successors in ~nterest Lender sl~all not be -eqwred to commence ~;roceed~ngs aga~nst such successor or refuse to extend t~me for payment or otherw~se mod~ty amort~zat~on of the sums secured by th~s Mortgage by reason of any demand made by the ong~nal Borrower and Borrowers success~rs m mterest 11. Forbearance by Lendsr Not a Waivsr. Any forbearance by Lender ~n exerc~s~ng any r~ght o~ remedy hereunder. :~+ othe-w~se atforded by appt~cabie law. shali not be a wa~ver of or preclude the exerc~se ot any such r~ght or remedy ?ne procurement of ~nsu~ance or the payment ot taxes or other t~ens or cha~ges by Lender shal~ not be a wa~ver of L~ndei s r~ght to accelerate the matunty ot the ~ndebtedness secured by th~s Mortgage. 12. Remedies Cumulative. All remed~es prov~ded ~n th~s Mortgage are dist~nct and cumulative to any other nght or remedy under th~s Mortgage or atforded by iaw or equ~ty, and may be exerased concurrenuy, ~ndependently or successwely 13. Successors and Assigns Bound; Joint and Severst Uability; Captlons. The covenants and agreements nerQm con!ained shall b~nd. and the r~ghts hereunder shall ~nure to. the respect~ve successors and assigns ot Lender and Borrower_ sub~ect to the prov~s~ons of paragraph 17 hereof. Alt covenants and agreements ot Borrawer shall be ~o~nt and several. The capt~ons and headmgs of the paragraphs of th~s Morlgage are lor covemence onty and are not to be used to ~nterpret or def~ne the prov~s~ons hereot. 14. Notice. Except tor any not~ce required under appl~cable law to be g~ven ~n another manner. la- any not~ce to Borrower prov~deii fo~ m th~s Mortgage shall be g-ven by ma~ling such not~ce by cert~f~ed mad addressed to Borrower at tne Property Address or at suct- other address as Borr~wer may designate by notice to Lender as pro~~ded herem. and ~b- any not~ce to Lender shall be g~ven by ce-tif~ed ma~1. return rece~pt requested. to Lender s address stated heretn or to such other address as lender may des~gnate by not~ce to Borrower as prov~ded here~n. Any notice prov~ded for m th~s Mortgage sr~aii be deemed to have been g~ven !o Bor-ower or Lender when g~ven ~n the manner des~gnated here~n. 15. Uniform Mo~tgage; Governing Law; Severability. Th~s form of mortgage combmes un~torm covenants for ^as~onai use an~i non un~form covenaMS w~th i~m~ted vanaUnns hy ~unsd~ci~r,n to constrtute d un~form secunty ~nstrum~nt „~~~;er~ng real property The state and locai fa~vs appl~r,ahie t~ Ih~s Mortgac~e sha!! be the !aws of the ~unsd~ction ~n w~~ch 'hP Pr~pPrty :5 ~ocated The terego~ng ser.tence sha!~ not hm~t the tippiiC<~~iiity ot tPhPt~l !aw 1o ThiS mOrtg~qP in ine event ~'~-1? a~ty n~0`.'iSiOIS Or c~ause o± m~s Mor~gaqe o, m~ Nc~te c,, ~1!iCiS Wiih ~ippi:C~tt~~f~ :Y: GU~;h COfI"ItCi Sha~l /lnT l}fP.Ci ~~thPt ; r,~. ~;~~ns of tr~s Mortgage or !he Note ~.vM~h ~.an he t~i~•en E~tt~~i tv~thr,ut 'hF:> ~r~r~t „-tinc~ p~nv~Sir,n ,;nr1 !n th~5 i~~~! t~c~ :,rn:~c~~ns ~f ihe Morigage and ~hp Notc ~r~ ~1P~tarec: ?r, tit~ 5~.•F~r,ih;~ 16. Borrower's Copy. Borrower shal~ be furn~shed a cQntormed copy of the Note and ot th~s Mortgage at the t~me ot eXecuhon or after recordahon hereot 1 ~. Sransisr of the Property; Assumption. It at! or any part ot the Prope~ty or an ~nterest therem is sold or transferrecf by Borrower w~thout Lenders pnor wntten cansent. exclud~ng ~a- the creat~on ot a I~er, or encumb-ance subord~nate to th~s Mortgaqe, (b) the creat~on ot a purchase money secunty ~nterest (or household apphances. Ic) a transier by devise descent or by operation of law upor. the death of a ~o~nt tenant or ~d- lhe grant of any leasehold ~nterest of three years or less not contain~ng an opt~on to purchase Lender may. at ~_ender's opt~on. declare ali the sums secured by th~s Mortgage to be :rrmed~atety due and aayab-e. Lender shal! have wa~ved such opt~on to acce!erate ~t pnor to the sale or transfer. Lende~ and the person to whom ihe Property ~s to be sold or transferred reach agreement ~n wr~t~ng that Ihe cred~t ot such persor. ~s sat~sfactory to Lender anA that the ~nterest payable on lhe sums secured by th~s Mortgage shall be at such rate as Lender snafi .-equest if Lender has wa~ved the opt~on to acceierate prov~ded ~n th~s paragraph 17. and ~t Borrower's successor m ~ ~terest has executed a wr~tten assumpt~on agreement accepted ~n wnt~ng by lender. Lender shall release Borrower from af I obi~gat,ons under th~s Mongage and the Note I( lender exerc~ses such ept~on to accele~ate. Lender shatl mail Borrower not~ce oi acceleration ~n accordance w~th parayraph ~ 4 hereot. Such not~ce shall prowde a per~od ot not less that 30 days lrom the date Ihe not~ce ~s ma~led w~th~n wn~~h Borrower may pay the sums declared due. If Borrower fa~ls to pay such sums pno~ to the expirahon of such penod. Lender may. without further not~Ce or demand on Bprrower. ~nvoke any remed~es perm~tted by pa.-agraph 18 hereot NON-UNIFORM COVEIVANTS. Borrower and Lender further covenant and agree as follows: 18. Acceleration; Rsmedfes. Excspt ss provlded In peragrsph 17 hersof, upon Borrower's bresch of any covenant or agraement of Borrower in thls Mortgage, including the covsnants to pay when dus any sums secured by this Mortgags, Lender prlor to accslsratlon shall mall notice to Bonower as provlded in paragraph 14 hereof specifying: (1) the breach; (2~ the action requirsd to cure such breach; (3) a date~ not less than 30 days from the date the notice is meiled to 8onower, bywhich such brsach must be cured; and(4) thatfslluretocure such breach on or before the date specified in the notlce may result In accslsratton of the sums secured by thls Mo~tgage. foreclosu~s by judlclal proceeding snd sals of the Property. The notlce shall furthe~infonn Borrowerof ths rlghtto reinstste after accelsration snd the ri~ht to assert In the foreclosure procsedin~ the non-exlstsnce of s default or any other defenss of Bonower to acceleration and foreclosure. If the breach Is not cursd on or before the date specitied in the notice, Lender at Lender's optlon msy declars sll of the sums securod by this MoKgage to be immediatefy due and psysble wlthout turther demand and may torecloss thts Moetgsgs by judiclal procesding. Lender shall bs entitled to collect in such proceeding all sxpenses of foreclosure. Inctuding, but not tlmtted to, ressonable atto~ney's fess, and costs oi documentary evidence, abstrscts and title repo-ts. 19. Borrowsr's Right to Reinstate. Notw~ihstanding Lendei s accelerat~on of the sums secur~ by th~s Mortgage 8~~~~r,v~er snalt have the r~ghs to have any proceedings begun by Lender b entorce Ih~s Mortgage d~scommued at any t~me ~fl~346 PACE~~