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Home My WebLink About0993 j ' • ~ ~ ~ ~ ~ ~IV~ ~ Lenders written a reement or a licable law. Bo~rower shaU g pp pay the amouM ot all mo?tgage ~r.sutance premiums in the. man~er provided under parag~aph 2 hereof. • - Any amounts disbursed by Lender putsuant to this paragraph 7, with intere§t thereon, shall become additional mdebtedness of Bo~~ower secured by this Mortgage. Unless 8orrower and Lender agree to other te~ms ot payment, such amounts shall be payable upon notice from Lender to 8orrowe~ requeSting payment thereol, and shall bear interest hom the date of disbu~semenl at the rate payable Irom Ume to time on outstanding principal under the Note unless payment of ~ interesl at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this parag~aph 7 shall ~equire Lender to incur any expense or take a~y actio~ hereunder. . 8. Insp~ctlon. Lender may make or cause to be made reasonable entries upon and inspections oi the Property, ptovided that lender shall give Borrower notice priorto any such inspection speciying reasonable causetheretor related to Lenders int8rest in the Property. - Cond~~~stlon. The proceeds ot anyaward orclaim lordamages, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu ot condemnat;on, he~eby asSigped and shall be paid to L@nder. - In the avent of a total taking ot the Property, the proceeds shall be applied to the sums secured by this Mortgage. . wilMtNe excess, it any paid to Bor~ower. In the event of a partial taking of the Property unless 8orrower and lender oth~rvvise agree in writing, th8re shall be appfied to the sums secured by this MoAgage such prqportion ot the proceeds - as is equal to that prpportion which ihe amount of the sums secu~ed by this MoAgage immediately prior to the date of taking bears to the tair market value ol the Property immediately prio? to the tlate of taking, with the balance ot the proceeds paid to the Borrower. - . ±It~tre Property is abandoned by BoROwer, or it, atler notice by Lender to Borrower that the condemnor otters to make an~awaid or settle a claim for damages. Borrower fails to ~espond to lende~ within 30 days atte~ the date such notice is mai~ed. Le~der is authorized to collect and apply the proceeds, at l.e~'s option, e+ther lo restora~c~ or repair of the Property or to the-sums secured by this Mortgage. ~ . Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shalt not extend - or postpone the due date ot the monthly installments reterred to in paragraphs 1 and 2 hereot or change the amount ot such installmeMs. • ~ . . ~ 1 O. 8omovwr Not R~INS~d. Extension ot the time tor payment or moditication of amortization of the sums secured by thls Mo?tgage granted by Lender to any successor in in~erest of 8orrower shall no! operate to release, in any manner, the I~ability of the original Bonower and Borrowers successors in interest. Lender shall not be required to commence " proceedings against such-successor or refuse to extend time for payment or othervvise modiy amonization ot the sums se~y~pci~ tt~t~Qrt.gpt,~ypy+pqa~or~~?~y~eq'~andt{q~@p~t~aorigip~t Rq~~~ and Borrower's successors in interest. 11. Fo~aanc~ by L~nd~~ Not a Waiv~r. Any forbearance by Lender in exercising any right or remedy hereunder. or othervvise aftocded by applicable law, shall not be a waiver ot or preclude the exercise of any such nght or remedy. The procurement oi insurance or the payment oi taxes or other liens orcharges b.y Lender shall not be a waiver of Lenders nght to accelerate the maturiy oi the indebtedness secured by this Mortgage. . 12. R~m~dl~s Cumulatlw. All remedies provided in this Mortgage are distinct andLiykr?~lative to any other right or remedy under this Mortgage or a8orded by law or equity, and may be exercised concurrently, independently or successively. 13.- Succ~ssors snd Assl~ns 8ound; Jolnt a~d 8~v~ra1 Uabllity; CapNons. The covenants and agreements herein contained shall bind, and the rights he~eunder shall inure to, V~e respective successors and assigns oi - Lender and BoROwer, subject to the provisions of paragraph 17 hereof. All covenants and agreements ot Bonowe~ shall be ~oint and several. The captions and headings of the paragraphs ot this Mortgage are for covenience only and are not to be used to interpret or detioe the provisions hereof. ~ ~ 14. Notlc~. Except tor any notice required under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Mortgage Shall be given by mailing such notice by ce~tified mail addressed to Borrowe~ at the Property Address or at such other address as Borrower majr c~~ , i na by noticg der_as provided herein, and Ib> any noGce to Lender shall be giv8n by certified maii, return re~di~~eq~est~d-~o r~~ address stated herein or to such othe~ address as Lendel may designate by notice to Bortower as providetl herein. Any notice provided tor in this Mortgage shall be deemed to have been given to Borrower or Lender whe~t given in the m8nnerdesignated he~ein. ' 15. UMform IMort~a~; Gowmin~ Law; 8ev~rsbllity.; •~Tjt~~~~m~4r~noAqag~combines uniform covenants for ~ natwnal use and non-unifqrm covenants w~th I~m~ted vanaUons by ~unsdiction to constitute•a unitormsecurity ~nstrument covenng real property. The stale and local laws appl~cable to th~s Mortgage shall be the Iaws of the jurisdict~on ~n wh~ch 1he Property ~s located. The torego~ng sentence shalt ~ot I~m~t the a~phcab~hty of lederal law to this mortgage. In the event that any provis~on or clause ot this Mortgage or ihe Note contlicts w~lh apphcab~e law, such contl~ct shall not al(ect other - p?ov~s~ons ot this Nlortgage or the Note which ca~ be g~ven etfect wdhout the conthchng provision. and to this end the prov~s~ons of the Mortgage and the Nnte are declared to be severable. • ~ 16. BoROw~rs Copy. Borrower shatl be turnished a contormed copy ot the Note and ot this Mortgage at the time ~ ot execution or after recordation hereoL 17. Transf~r ot th~ Prop~rty; Assumption. 11 a11 or any~art of the Property oi an ~nte~est therein is sold or transterred by Borrower without Lende~s pROr written consent, excluding (a~ the creation of a Ifen or encumbrance subordinate to th~s Mortgage, (t~ the creation of a pu~chase money secunty interest tor household appliances. (c) a trans(er by devise, - descent or by operation of law upon the death of a joint tenanl or(~ tltie grant of any leasehold interestot three yeacs or less not containing an option to purchase. Lender may, at Lenders option, declare all the sums secured by this MoNgage to be ~mmediatey due and payabte. Lender shall have waived such option to accelerate if prior to tF1e~~[e~qapansfer; Lender _ and the person to whom the Property is to be sold or transferred reach agreemenl in writing that the credit ol such person ~s sat~stactorylo Lender and that the inter~st payable on the sums secured by this Mortgage shall be at such rate as Lender shall reques4 If Lender has waived the option to accelerate prov~ded in this pa~agraph 17, and'it Borrowe~s successor in ~nterest has executed a written assumption agreement accepted ~n w~iting by LencieT,Lender shall release Borrower trom atl obhgations under this Mongage and the Note. • - It Lender exercises such option to acoelerate. Lender shall mait Borrower notice of accelerat~on in accordance with paragraph 14 hereof. Such notice shall provide a period of not less that 30 days trom the date the notice is mailed with~n wh~ch Borrower may pay the sums declared due. If Borrower fa~ls to pay such sums prior to the exp+ration ot such per~od. = lender may, without fu~ther notice or demand on Borrower, invoke any remedfes permitted by paragraph 18 hereot. ~ NON-UNIFORM COVENANTS. 6orrower and Lender turther covenant~and agree as folfows: ~ ~ 18. Acc~l~ratton; R~m~dl~s. Exc~pt q provtd~d In para~raph 17 h~nof. upon Borrow~rs bnach.of any . ; ~ cov~nantota~n~m~M ot Borrovr~~ in thls Mott~s~, includln~ th~ cownsnq to pay whtn du~ ~ny sums s~cund by thts MoR~s~~ L,~nd~~ prlort0 scc~l~rst~on shatl n~all notlw to Bonovw~ as provid~d In para~rsph 14 h~roof spsclfyfn~: (1) th~ brach; (Z) th~ action nqulnd to cun ~uch bnach; (3) a dat~. not I~ss than 30 days from the dateth~ notlc~ Is m~)I~dto 9orrovwr, bywhtch suah bnsch must b~ cund; and(4) thsthltunto cun wch broach on or b~foro th~ dat~ sp~eitl~d In tha notle~ may nsult In sex~l~ratlon ot th~ suma s~cur~d by thls Mort~i~e, ; foreclosuh by judiclsl proc~idln~ and sal* of th~ prop~rty. Th~ nodc~ ~hall furth~rlnio~m 8otrqwKOith~ ~htto - # nlnstst~ afts~ aoc~l~ratlon snd fh~ rl~ht fo ass~K In th~ tohclosutr procNdinp th~ nori-~xlsbnce of a d~tauR or ~ sny otMr dN~ns~ of 9omow~~ to acc~l~r~tlpn arM fonclosun. lt th~ br~ach Is not cund on or b~ton th~ date ~ speclfl~d In th~ nottcr~ L~ndir st L,~ndN's optlon may d~clan all ot th~ sums sicund by thls Mortpap~ to be immNfat~ly du~ and payabl~ wl~hout iurtMr d~mand and m~y tonclos~ thls Mo~typ~ by jud1g1~1 proc~sdln~. ~ Lend~r shall b~ ~ntitl~d to coll~ct tn wch procNdtn~ sll ~xp~ns~s ot fonclosun, Includlnq. lfut not Ilmfted to, nasonabl~ a3tom~s fNS, and cosb of documsntary ~vld~nc~, abatrscts and tRl~ npo~ts. ~ 19. Borrow~rs Rl~ht to R~Instat~. Notwithstanding Lenders accele~ation of the sums secured by this Mortgage. Borrower shall have the right to have any proceedings begun by Lender to enforce this Mohgage d~scoRtinued at any t~me ~ ; B[i~~~ ~ • a~