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Home My WebLink About1939i Lenders writte~ ag~eement or applicab~e I~w Borrowe~ shall pay Ihe amount ol aI1 mo~1~ ~nsur~ty Qr~n~ums ~n the manner prov~~ed unde- paragraph 2 hereot. ! Any amounts d~sbursed by lender pursuant to this paragraph 7, w~th mte-esl Ihereon, shall become add~t~onal ~ndebteaness of Bo-rower secured by th~s Mortgage Unless Borrower and Lender agree to othe- terms ol payment, such amounts shau be payabie upon not~ce 1~om Lender to Borrower requesang payment thereof, and shati bea~ ~nteres~ Irom the date o1 d~sbursement at Ihe rate payable Irom I~me to t~me on outstand~ng pr~nc~pal under the Note unless payment ot ~nterest at such rate would be contrary to appl~cable law, m which event such amounts shall bear ~nterest a! the h~ghest -ate perm~ss~ble unde~ apphcable Iaw. Noth~ng conta~ned ~n th~s parag~aph 7 shaU requ~re Lender to ~ncur any expense or take any acUon hereunder S. Insp~etion. Lender may make or cause to be made reasonable entr~es upon and ~nspecl~ons ot the Property. prov~ded that ~ender shalt g~ve Borrower not~ce p~~or to any such ~nspect~on spec~ly~ng reasonable cause therefor related to Lenders interest in the Property. 9. COnd~mnitiOn. The proceeds ot any award or cta~m for damages. d~rect or consequent~at, in connection w~lh any condemnat~on or other tak~ng ot the Property, or part thereot. or for conveyar.ce m I~eu ot condemnai~on, h~~eby ass~gned and shatl be paid to Lender. ~ In the event of a totat lak~ng of the Property, the proceeds shall be apphed to the sums secured by thls Mortgage. w~th the excess, if any paid to 8orrower In the event ot a part~al lak~ng of the Property unless Borrower and Lender otherwise agree m~vrriting, there snall be appl~ed to the sums secured by lh~s Mortgage such proporhon ot the proceeds as ~s ecual to that proport~on wh~ch the amount of Ihe sums secured by th~s Mo~tgage immed~ately pr~or to the date of taking bears to the fair markel value of the Property ~mmed~ately Fr~or to the date nf tak~ng, w~th the balance ot the proceeds paid to the Borrower. If fhe Prpperty ~s abandonecl by Borrotiver. or ~t, atter not~ce by Lender to Borrower that the condemnar atfers to make an award or se~t!e a cla~m for damaqes Borrower Ia~IS to respond to Lender w:th~n 30 days atter ihe date such notice ~s ma~ied. Lender ~s author~zed to collect and apply the proceeds, at Lender's opt~on, e~lher to restorat~Qn~or repair ol the Property or to the sums secured by th~s Mortgage ~~ Unless Lender and Burrower otherw~se agree ~n wr~t~ng. any such appl~cat~o~ of proceeds to pnnc~pal shall not extend ar postpone the due date of the monthiy ~nstatlments referred to ~n paragraphs t and 2 hereol or ~hange the amount of such insiatlments. 1 O. Bonower Not Released. Extens~on ot the time lor payment or modif~cation ot amort~zation of the sums se~ured by th~s Mortgage granted by Lender to any successor m ~nterest of Borrower shall not operate to release. ~n any manner, the I~ab~i~ty of !he or~gmal Borrower and Borrowers successors ~n ~nterest. Lender shall not be reqwred to commence proceedmgs aga~nst such successor or refuse to extend t~me for payment or othervv~se modify amortizat~on of the sums secured by this Mortgage by reason of er~y dem~nd made by Ihe ong~ndl 6orr~rer and Bo~rowers successors ~n interest. 11. Forbearance by Lender Not a Waivsr. Any forbearance by Le~de~ ~n exercis~ng any nght or remedy hereunder. or otherw~se at(orded by appl~cable iaw, sha~1 not be a wa~ver of or preclude the exerc~se ol any such nght or remedy. The procurement ot Irsurance or the payment ot taxes or other I~ens or charges by Lender shall not be a wa~ver of Lender's -~ghl to accelerate the matunty ol the mdebtedness secured by th~s Mortgage. 12. Remedies Cumulative. Ai1 remed~es prov~ded ~n th~s Mortgage are d~si~nct and Cu'rtwlative to any other nght or remedy under this Mortgage or atforded by ~aw or equ~ty. and may be exerc~sed concur[ently, mdependently or success~vely. 13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements here~n conta~ned shatl b~nd. and the nghts hereunder shall ~nure to. the respect~ve successors and ass~gns ot Lender and Borrower, sub~ect to the prov+s~ons ot paragraph 17 hereot. Ail covenants and agreements oi Borrower shail be ~o~nt and seve~a~. The capt~ons ar.d head~ngs of the paragraphs of rh~s Mortgage are for covernence only ~nd are not to be used to ~nterpret or dehne the prov~s~ons hereof. 74. Notlce. Excep! for any not~ce requ~red under appl~cabie taw to be g~ven in another manner, fa) any not~ce to Borrower prov~ded for ~n th~s Mortgage shau be g~ven by ma~hng s~ch not~ce by cert~f~ed ma~l addressed to Borrower at the Property Address or at such other address as Borrower maY des~gnate by nohce to Lender as prov~ded here~n. and tb1 any not~ce to Lender shali be g~ven by cert~f~ed ma~1. return rete~pt requested, to'Lertcler's address slated here~n or to su~h othe~ add~ess as Lender may des~gnate by not~ce to Borrower as prov~ded herein Any not~ce prov~ded for in th~s Mortgage shatl be deemed to have been g~ven to Borrower or Lender when g~ven ~r. the manner des~gnated herem. 15. Unifomn Mortgage; Gove~ning Law; Severability..Th~s fqrm o1 mortgage comb~nes un~torm covenants tor nat!ona! use and non-urntorm ~ovenants ~v~th E~mrted vanat~~ns by ~unsdich^n to consht~te a uniform secunty ~nslrument covenng real property The s~ate ard loca! ~aws appt~cab!e to th~s Mortgage shali be the laws ot the ~unsd~chon ~n wh~ch ?ne Prope-ty ~s located The toreg~~ng sentence shali n~t i~mrt 1he appl~cab~R~ty of federat iaw to th~s mortgaoe In the event that any prov~s~on o- cla~se of th~s Mortgage or the Note cor.N~cts w~th appl~cab!e iaw. such conNsct shaU not alfect other prov~s:ons of th~s Mortgage or the Note wh~~n can he grven eifect rrnlhout the conti~ctmg prov~s~on and to th~s end the o+ov~s~ons of the Mo-tgage anc~ me N~~te are ciec~are,y ;,, t;e severab~e ~ ' 16. Borrowe~'s Copy. Borrower shatl De furn~shed a contormed copy of ~the Note and of th~s Morigage at the t~me of exec~tion or atter recordation hereof. 17. Transfer of the Property; Assumption. If all or any part of the Prope~ty or an ~nterest therem ~s sa~d or transferred by Borrower wlthout Le~ders pnor wntten ~onsent. exc~ud~ng ~a- the creat~on of a I~en or encumbra~ce subord~nate to th~s Mortgage. (b) the creation of a purchase money secunty ~nterest lor household appl~ances. (c1 a transfer by devise. descent or by opera!~on oi law upon the death oi a ~oint tenant or ~d) the grant of any leasehold ~nterest of three years or less not conta~ning an option io purchase. Lender may. at Lender s opt~on, declare all the sums secured by this Mortgage to be ~mmed~ately due and payable. Lender shall have waived such opt~on to accelerate if pr~or• to the sale or ~ransler. Lender and the person to whom the Property is to be sold or transferred reach agreement Fn wnt~ng that the cred~t o( such person ~s sat~sfactory to Lender and rhat the ~nterest payable on the sums secured by th~s Mortgage shall be ai such rate as Lender shall request. If Lender has wa~ved the opt~on to accelerate prov~ded ~n th~s paragraph 17, and ~i Borrowers successor ~n ~nterest has executed a written assumpt~on agreement accepted ~n wntmg by Lender. Lender shall release 8orrower from all obl~gat~ons uncier this Mortgage and the ~~ote. If ~ender exercises such opt~on to accelerate. Lender shatl rna~l Bo:rower not~ce oi accelerat~on ~n accordance w~th paragraph 14 hereof. Such notice shall provide a per~od ot ~ot less Ihat 30 days trom the date the not~ce ~s mailed with~n wh~ch Bo-rower may pay the sums deciared due. If Borrower tails to pay such sums pnor to the exp~rat~on of such per~od. Lender may, without i~irther notice or demand on Borrower, ~nvoke any remed~es perm~tted by paragraph t 8 hereot. NON-UNIFORM COVENANTS Bo~rower and Lender further covenant and agree as follows: 18. Acceleration; Remedies. Except ss provided In psragreph 17 hsrsoi, upon Borrowers breach of sny covenant or sgroement of Borrowsr in this Mortgage, including the covenants to pay whsn du~ any sums secured by thls Mortgags, L.~nder prior to accNe-atlon shsll mall nottcs to Borrowsr as provlded In psragraph 14 hsreoi -spectfyin9: (1) the breach; (2) ths actlon requfrsd to curo such brsach; (3) a dste, not less than 30 days irom the date the notlce is maf led to Borrower, by whlch such bresch m ust be cured; snd (4) thst faf luro to cure such brssch on or bofo~e the date spectfied in the notice may rosult In accet~ration of the sums securod. by this Mortgage, foreclosuro by judlclsl procsedtngand saieof the Propsrty. The notice shall fu~therinform Borrowerotthe ri~htto rolnstate after accelaratbn and ths riyht to asssA in the foroclosuro proceeding the ~on-sxlstenc~ of a default or a~y othe~ defense ot Borrower to acceleratlon snd foreclosure. It the brosch is not cured on or bsforo ths date specifi~! In the notice, l.~nder st Lender's optlon may declsrs all of the sums secund by th~s Mortga~e to be imm~distsly dus and psyabl~ without fueth~r demsnd and msp torocloss this Mortgs~e by judlclal proce~ding. Lsnd~r shall be entkled to collsct In such proce~ding sll .xpsnses of foroclosurs, lncluding, 6ut not Itmited to, roasonabls attomeys fees, and costs of documentary evldence~ abstracts and title r~ports. ~ 19. Bor-owers Rt~ht to Reinatate. Notw~thstand~ng Lender's accelerat~on ot tne sums secwed Cy th~s Mortgage. Borrower shall have the right to have any proceedmgs begun by Lender to en(orce th~s Mortgage d~sco~t~ ~ued at any t~me - ~~~x34? P~~19:3~ ~~:~~~__ - - _. _ _~- ---:~ ~:.L ~ .J!2r~3'~-r.t.M 9' ~ 4 __..s-i .. - -" - __:~