The URL can be used to link to this page

Home My WebLink About0960 ~ ' .3~r~ ~ Lenders wr~uen agreement or appl~cabie iaw Borrowe~ shall pay the amount ut ail mortgaye ~nsurance prem~ums ~n ~ne manner prowded under pa?ac~raph 2 hereoi. :.r~y amoums d~sbursed by Lender pursuan~ to Ihis paragiaph 7, w?th ~nteresl Ihereon, shall become acid~l+onai ~ndebtedness of Bor?owe~ secured by th~s Mortgage. Uniess Bo?rowe? and Lender agree Io o~ner terms ot payment. sucn amounts shall be payable upon notice f~om Lender to Borrowe? request~ng payment Ihereof, and shall bear ~nteresl trom the date of d~sbursemen! a! Ihe ~ate payable irom time !o Gme on oulstanding pnncipai under Ihe Note unless payme~t ot ~nterest at such rate would be contrary to applicable law, in which event such amounts shaU bear ~nterest at the h~ghest rate perm~ss~bte under apphcabie taw. Noth~ng contamed m Ih~s paragraph 7 shaU ?equ~re Lende? to ~ncw any expense or take any achon hereunder. 8. Inspection. Lender may make or cause to be made reasonabte entnes upon and ~nspect~ons oi the Prope~ty. prov~ded that Lender shall g~ve Bo?rowe~ noUce pr~or to any such mspect~an spec~ty~ng reasonable cause therefo~ reialecf to ~ Lenders mterest in the Prope?ty. 9. COndemnatio~. The proceeds ot any award or cla~m for damages. d~rect or consequenUai. connect~or~ w~th any condemnat~on or othe? lakmg of the Property, oi part thereot, or for conveyance ~n I~eu of condemnaCOn. hereby ass~gned and shall be paid to Lender. tn the event ot a lotal tak~ng of the Property. the proceeds sha11 be appl~ed to the sums secured by th~s Mortgaye w~Ih Ihe excess, if any paid to Borrower In the event ol a pan~al tak~ng ot the Properiy unless Borrower anci Lender otherw~se agree +n wr~ting, there shall be app~~ed to the sums secured by th~s Mortgage such proport~on of Ihe proceeds as ~s equal lo thal proport~on wh~ch the amount oI Ihe sums secured by th~s Mortgage ~mmed~afeiy pr~o? to the date ofi tak~ng bears to the fal market vaiue of the Property ~mmed~ately pno~ to the date of tak~ng. w~th the balance ol Ihe proceeds pa~d to the 8orrower. ~ It the Property is abandoned by Bo?rowe?. or ~t, aner noUce by Lender [o Bonower that the Condemnor ofte?s to make ~n award or settle a cla~m lo~ damages. Borrower fa~ls to respond to Lender w~th~n 30 days afte~ the date such not~ce ~s ma~~ed Lender is authonzed to coflec! and apply the proceeds. at Lender's option e+ther to restora?~on or repa~r ot the Property or to the sums secured by th~s Mortgage Unless Lender and Borrower olherw~se agree ~n wr~t~ng. any such appi~cat~on of proceeds t~ p?~nc~pai shati not extencf or postpone Ihe due date of the monthly ~nstallments referred to ~n paragraphs 1 and 2 hereof or change the amount of such installments 1 O. Borrower Not Releassd. E xtens~on of the time for payment or mod~ticat~on ot amort~zat~on of the sums secured by th~s Mortgage g?anted by Lender to any successor ~n ~nterest of Borrower shai~ not operate to re~ease ~n any manner. the ~.ab~hty ot the ong~nal Borrower and Borrowers successo~s ~n ~nterest. Lender shait not be requued to commence p?oceed~ngs aga~nst such successo? or retuse to extend t~me for payrnent or otherw~se mod~fy amort~zat~on ot the sums secured•ti+~ tttis MorttJage Ay r~asoH ~df ~ny dema~d m~de by ltie brig~na~ Bc+rrower and Borrower s successors m mte?est i t 1. Forbearance by Lendsr Not a Waive?. Any forbearance by Lender m exerc~s:ng any nght or remed; he+eunder or otherw~se afforciecf by apphcabie law, shatt not be a wa~ver of or preciude the exerc~se of any such nght or remecly The procurement of ~nsu~ance oslhe payment ol taxes or other I~ens or charges by Lender ;hail no! be a wa~ver of L°~de+ s r~ght to acceterate the matunty ot the ~ndebtedness secured by lh~s Mortgage. 12. Remsdles Cumulative. All remedies prowded ~n this Mortgage are d~shnct and'~utnuiative to any otner nght or remedy unde? th~s Mortgage or afforded oy iaw or equ~ty. and may be exerc~sed concurrentty ~ndependerniy o? success~ve~y t 3. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements here~n conlamed shatl bind, and the ?~ghts hereunder shali +nure to. 1he respeci~ve successors and ass~gns of Lender and Borrower. sub~ect to the prows~ons of paragraph t 7 hereof Ail covenants and agreements ot Borrower shall be ;omt and severa:. The capt~ons and headmgs of the paragraphs ol th~s Mortgage are br covernence oniy and are not to ::e used [o ~rnerpret or del~ne the prov~s~ons he~eof 14. Notlce. Except tor any nQt~ce reqwred unoer apphcabie idw !u t~r yiver~ ~f, al'iGit~~r f~'~an;~Et, i8; ar,y r;,S+ce to Borrower prov~ded for ~n th~s Mortgage shatl be grven by ma~hng such nouce by ce~t~t~ed ma~~ addressed to Borrower at the Property Address or at such other address as Borrower may des~gnate by r}ptice to Lende? as prov~ded here~n. and ib) any noUce lo lender shall be g~ven by cert~hed ma~l. retum rece~pl requeSted. to lendei s address slated here~n or to such other address as Lender may des~gnate b;r notice to Borrower as prov~tlec7 nerem Any not~ce prov~ded tor ~n th~s F,Aortgage shall be deemed to have been g~ven to Bor.ower or Lender when g~ve:~ ~n the manner des~gnated here~n I~'~ 15. Uniform Mortgage; Governing Law; Saverability. Th~~forrrt of mortgage comb~nes unrtorm covenants fo? i ndi,c,na! use and nort-un~form Co4enants •rr~th ~~m;ie~f ~~ar!at~~~n5 by ~uns~i~ctfon !U rnnshtute a t;~~ti,r.^', c~r_i;r:ty ~~5~•U!?mn^1 i ,'f1VE'.IIR(~ rea~ property The state and toca~ ~~i1V5 ~(~P~tC~ll)!P TCi !h,5 ~~A(~f1q~3~IP S~8~' Iif• }hP ':!L•/S f>} r"F° '~_.':5(it~!~~i~1 ::n;('•- "lf~ P~~,(~Crty ~S !OCiTP.d The tOteqot~g Sen+en~.e Sh3it n;~' ;~n,~~i?h~= ~itiC!~C 3.., tE-•,-7F";3' 1•,•~, r+-:~.••ld~7F S!~,n F:.,c:~q '`1e( Fif? ' tGV~ + fl C'dUSf' Ct th~5 i'•' - r}' h~" r ~ 1 t, - ~ • ) D s u . . , U~,.ga~e t F i~ ~i(. C' i ~rt5 .i~; , , • ~f.. ' ~ ~r;c , r~7~ ~f}f:r! . 'c.r (i~O:i5fin5 G} ihlS ~`.~Ortgaye nr thp t j~r:p tV~li~ h ran bf' O~.F"1 ~~~fPC. !r,, .e rn~. . . c c.r~, • . ,.~"~ns r,t the Martgage arct t!?e Pdnte are ~~e~~a~~:! r,e s.~~:~..ac,!~~ ~ 16. Borrowsr's Copy. Borrower shall be furn~shed a conformed copy ot t^e ~te ~^C1 Of ih;s !,Aor~gage at t~e r~me f ot execut~on or atter recordat~on he+eo! 17. Transf~r ot ths Propsrty; Assumption. If all or any part of the P+operiy or an ~nterest the?em ~s s~td or ;ransler+ed by Borrower w~thout Lenders prior written consent, exclud~ng (a1 the creat:on of a 1:en or e~cumbrance subord+nate to th~~ Mortgage. (b) the creat~on ot a purchase money secunty ~nterest ta househo!d appa~ances (ci a transter by dev~se descent or by operaUon ot law upon the death ol a ~o~nt tenant or ~d? the grant of any iease!~o~d ~nterest of three years or ~ess not contain~ng an option to purchase. Lende? may, at Lender's opt~on. declare atl the sums secured by th~s Mortgage to be ~^~med~ately due a~d payable Lender shal! have wai~ed such opt~on to acce?erate ~f pr~~r ?o"the sale or hansfer: Lender ard the person to whom the Property ~s to be so~d or transterred reach agreement ~n wr~tmg that the cred~t of such person ~s sa!~sfactory to Lender and tha! the ~nterest payable on the sums secured by th~s Mortgage shall be at such ~ate as Lender ~ shall request. It Lender has wa~ved the opt~on to acce!erate p~ov~ded m th~s paragraph ~ 7. and ~t Borrower s successor :n ;nterest has executeda wnlten assumpt~on agreementaccepted ~n wr~t~ng byLender. Lender shatl release Borrowerfrom a~! o~+~gat~ons under th~s Mongage and the Note. ~ U ~ender exerases such opl~on to accelerate. Lender shatl ma~t Borrower noUCe ot accelerat~on m accordance w~th paragraph 14 hereof. Such not~ce shall arov~de a per~od of not less that 30 days trom the date the not~ce ~s ma~ted w~Ih~n wh~ch Borrower may pay the sums declared due. If Borrower fa~IS to pay such sums pnor to the exp~rat~on ot such penod. Lende! may. w~thout tu?ther not~ce or demand on Borrower. ~nvoke any remed~es perm~tted by paragraph t8 hereof NON-UNIFORM COVENANTS. 9~~•ower and Lender further covenant and agree as foliows: ~ 18. Acceteration; Remsdles. Except ss provlded in para~raph 17 hereof, upon Borrowsr's breach of any { covenant or agreement of Borrowsr in this.Mort~a~e~ includlnp ths covsnants to psy when due any sums secured ~ by this Mortyegs, Lender prlor to sccslsratlon shsll mafl notlce to BoROVwr as provided in paragraph 14 hereof specifyfng: (1) ths breach; (2) the action required to cure such breach; (3) s date. not Isss than 30 days from the date the nottce is mal led to Borrower, by whlch such brsach must be cured; and (4) that failu re to cure such breach on or before the date spscitlsd in ths notics may rssult In acceleratlon of the sums secured by thts Mortgage, toreclosure by judicial proceeding and sale of the Piropsrty. Ths notice shall turther inform Borrowerof the ~ight to reinstate aker acceleratlon and the Nght to ssse~t In ths fonclosurs proceediny the non-exlstencs of s detault or any other defense of Bonower to acceleration and tor~closurs. Ii the brsach is ~ot cured on or betore the date specfiied in the notics, Lende~ at Lenders optton may declare all ot the sums secursd by this Moet~sge to be immedistely dus and psyabls without tu~ther dsmsnd snd may foreclose thls Mortqs~e by judlcial procseding. Lender shall bs entitted to collect in such procs~ding sll sxpsnsss oi torsclosure, including, but not Itmited to. reasonable attomey's fees* snd costs of documsnlsry avldence, sbstracts and title rsports. 19. Borrowe~'s Rightto Reinstate. Notw+lhs!and+ng Lendei s acce!e.?a!~~n ~t !he su~s sec~~eci by lh~s !:~~r!gage B~i!*OYlP• shaft have the r~ght to have any proceed~ngs begun by Lender ;o enforce th~s Mortgage dtscont~nued at any t~mP BOrJK ~hA P~6E ~ ~ ~ - , _ ~.x ~ - - = ~ ~~-~r,~-,~ ~~~a~~~~~ ~ ~ ~ ' r~~, ~ ~ . . ~ -