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Home My WebLink About0462~ . ~ l.ender's writ~cn agrcemcnt o~ applicabk 14w. Borrower shall pay the unount ot alt mortgage insurance prcmiums io the mannrr providrJ unde~ paragtaph 2 hercot. Any amauntc di~horscd by I.cnJc~ pursuant tu this parrgroph 7, wi~h intcrest thercon, shall becwne additional inJehtedneic of Rorrow•r~ securcd by ~hic Mortgage. Unkcs Ba~rovre- and I.enJer agree to other,t4rtns of paymeot. such amcKmts shall he payablc u~n no~icc from I.ende~ to Bormwcr rcquesting paymcr~t thcrec~f. and shalFbtat intercst from the date of dicburxment at the rate payabk fnxn time to time an outstandina principal under the Note unlas paymeM ot interest at such nte would be cont~arv ~a applicabk law, in which event cuch amounts shall t+ear interat at the hiahest nte pe~missibk under applicabk law. Nothing comained in this pang~aph ~ shall reQuire I_eode~ to incu~ any espease or takt any action hereunder. •. I~yert~ow, l.ender may make or cause to l~ made reasonabk entries upon and inspectian of the P~noperty. provided that I_e~der shall give Borrower notKC p~ior to any such inspection specifyin6 reasonabk Cawe theretor related to I.tedet's interest in the Property. 9. Co~dewwaNow. The p~~ceeds of any award or claim tor damaaes, dircc~ or consequential. in connectioa ~ridi any condemnation or other takina of the Propertp, or part thercot, or tor oo~weyanoe in liW ot ooodemnation. are het~r s~aed and shall be paid to Leoder. in ihe eve~t of a ~a,l ~aki~a of ~he Pnopeny. the proceeds shall be applied to ~he sums securcd bp ~his Mortss~. with the exoess, it any, paid to Aonawe~. In the event of a pa~tial takioa of the Property. unkss Bornower and Leode~ otherwix a6ree in writinR. there shall be applied to the sums xu~~sd by this Mortgage such proportion ot the prooeeds u is equal to that ptopoMion w•hich Ihe amc+ont o( ~he sumc securcd by this Mortgagt immediately prior to the date ot takingbears to the tair ma~ket value ot ~hc Pmpcrty immediately prior to the date ot taking, with the balanoe of N~e proceeds paid to Borrower. if the Propeny it a1-andoned by Borrower, or if. after notice by t_ender to Bormwer that the condenmor olfea to mate an award or xttle a claim for damaqe~. Be.rrower faik to tespond ta Lender within 30 days aUer the date such notict is mailed, [~nder ic authorized ta collect and ap~+ly the proceeds. at Lender i option, either to restoration or repair of t6e Property or to Ihe sum~ cecured hy this Mortga~te. Unless I.ender and Borrower othervuice agree in a•rit~o~,. aoy such application of proceeds to principal shall not tutend er pcxtpone the due da~e of the rnonthly insl~llments ~eferrcd to in paragraphs 1 and 2 hereof or chsn~e the amount o[ such installments. - lA. Sono~+er Nof Rdeased. Fatte~sion of the time for payment or moditkation ot amortitation of the sunn securcd by this Mongage gnntcd by l.cnder to any cucceuor in intcrect of Borrower chall not opente to rekase, in any ma~net. the lisbili~y of the original Borrower and Bc+rtower e successcNC in interest. I_eoder shall not be requircd to commenoe pn-ceedings against such succestor or tefuse ta e~tcnd time for payment or Wherwise modify amortiztdwn of the sums securcd by thic Mortgage by reason of any demand made by the orieinal Borrower and Borrower s s~~cceswn in intereat. l l. Forbesraace by t.ender Na a wai.~er. Any fort+ea~ance by I.ende~ in exercising any right or remedy hertunder, or otherwise afforded by applicabk la~r, shall nM be a waiver of or preclude the exereise of any such right or rentedy. The procurement of insurance~ the payment of taxes or other liens or charges by Lender shall not be a waiver of t.e~ders ~ght to accelerote the maturity of the indel~edness ~ecurrd hy this Mortgage. l2. Reu+edies Co~adati~e. All rcmedies providcd in this Mo~tgage arc distinrt and cumulative to any other riaht or rcm~dy undu this Mortgage or aBorded hy law or equity, and may be exercised concurrcntly, independently or successivefy. ' 13. S~eeessors and Assi~as ~uA:.Joiwt asi Se~eral l.iabi~ryr: Cspt{ons. The covenants and a~eemrnis herein contained shall bind, and the rights hertunder shall im~rc to. the respective successo~s and assigns of Lender apd Botmwer. subject to the provisionc of paraltraph 17 hereof. All coveoants and agreemrnts of Borrower shall be jaM and sev~enl. The captions and headings of the paragraphc at this Mortgase arc for coovenience oaly and are not to be used to interprct or define the provisans herrnf. 14. Natke. Eacept for any notice requircd under applicable law to be given ie another manner. (a) any notice to Borrowe~ provided for in this Mart~taee shall be giveo by mailing such notice by certifkd mail addrcssed to Bonowet at the Property Address or ar wch dher addresc as Borrower may designate by no~ice to T.ender as provided hercin, and (b) any notice to Lender shall he given hy cenified mail. rctum receipt rcquested. to l.ender s address s~ated heroin or to such other addrcss as Lender may decignate by nc-tice to Borrower as provided hercin. Any notice provided for in ihis Mongage shall be deemed to have been g~ven to Borrower or lender when given in the manner designated hercin. 1S. Ua~onw MortRa~e: Go~erni~ i.arr: Sererability. This form of mortgage combi~es uniform covenants tor national use and rwn-uniform covenan~c with limited varia~ions by jurisdiction to constitute a uniform security irutrument eoverin~ rca) propeny_ This Morlgage shall be gove~ned hy the law of the jurisdiction in which the Property is located. In tht event that any p~ovision or claux of thic Mortgage or ~he Note canflicts with applicabk law, such conAict shall not aRM other provisions of ~his Mortgage or the Note which can be given eBect wi~hout the conflicting provicion, and to thif end the provisions of ~he Mortgage and the Nc~te arc Jeclared to be xverable. 16. lorrower's Copy. Borrower shall be turniched a conformed copy of the Note and of this Mortga6e at the time o( execution or after recorda~ion hercv~f. 17. Trsssfer ot tbe rropertys Ass~mptiow. If atl or any pan of the Propeny or an interest thercin is sold or tnnsferred by Borrower witt~out Lender's prior writ~.n consem. excluding (al the crcation of a litn or encumbrance wbordinate to this Mongage. (61 the creatic+n of a purcha~e monev ~ecurity mtercst for household appliances. (c) a ~nnsfer hy devise, descent or by operation of law upon the Jeath of a jo~nt tenant or (dl the gram of any leasehold intercst of Ihrec ycars or kss not containing an option to purchase, Lender may. a~ Lender'c opt~on. declare ali ~he sums seeured by this MoREa6e to be immediately due and payable. Cender chall have w~ived such option to accclerate if, prior to the cak or t~ansfe~. Lender and th~ person to whom the Proper~y ic ta bc :oIJ ar transferrcd rcach agrecment in writing that the credi~ of cuch person is satisfactory ~o Lenckr and that Ihe interr.t payabk on the sums secured by tbis Morigage shall be st sach rate ac Lender shall rcquest. lf Lender hu waived the option to accekrate provided in ~his p,aragnph 1'I, and if Borrower's successot in interest has executed a written usumpuon agreement accepted in writing by Lender. Lender shall release Borrower fram all obligations under this Mortgage and the Note~ If [.ender exercixs such option t~ acce(era~e. Lender chall mail Borrower notice of accekration in aecordanc~ M•it1~ paragraph 14 hercof. Such nWict shall provide a period of not las than 30 days from the date the notice is maikd within which Bo~ rower may pay the sums declared due. If Borrower fails to pay such u~ms prior to the eapintion of cuch period, Lender may, without further notice or demand on Ibrrower. invoke any remedia permitted by panatsph I R hercc+(. NON-UNIFORM COVENANTS Borrower and Le~der funher covenant and a~ree u follaws: la. wccekratio.; Re~weaia. ~xcept as pro~wd ~~..a~ra'M ~7 ~eeeo% wow sorro~..ers r~acU ar ..r eoreiaN .r a~reeo~nt ot Eo~rower iw tbis Mart~aRe. iwcludinR He core~s~Ns to py wl~e~ ~~e My s~s secrrei br tMk Mort~~e. I.e~ prbr to accekrstbw sball auil wotke to do~ror-er a~'toride~ M pva~rapA 11 Atreof spetN~: tt) tAt brr~cA:12) tAe setle~ reqoired to c~re sucM 6rescA: l31 a d~te. ~ot les~ t-a 3A dsys tro~w tbe ~ate tUe ~otice M w~Yer Io Sorrower. h w~kl~ s~eai bescM a~rst be csred: ~d tq tlut /~il~~+e lo cve s~cA Mesc~ ow ot retore tre date s'eeMia~ I~ tUe wotice war res~lt M accekrstio~ ot tre sr~s sccved by 11ds Mo~aRe. to~caiosrr+e h j~dkial ~ceedi~ a~i s~le ~t Il~c r~o~e~. 71e wotfee sAall f~rtAe~ io~onu iorrower of tlic ~M lo ni~tste ~fler ~ceeieratlow awi tre ~At fe aNeet iw M~e toe~el~e ~eeeei~ Ife ~ow-esktewce et a detarll or awy otl~ iefeaa of lonower 1~ ~ccelerMiow s~/ te~ecbwre. N N~e ~e~ew is wet c~ei N or 6etore Ihe dsle yeci~ i tbe ~olict. l.ende~ at I.e~'s o~fMw ~ ~eel~e a~ ot frt s~t sceres~ ~ fNs Mort~aRe N rt immed'ately d~e awi pysbk withont fiuther danand and ~ fereclo~e IAft MM~a~e ti}ikW /~cteAbR: I.~nder alail be e~titkd to eo~eet i~ srcM reoeeedi~ aM e:~ewses nt toreclosn~e. M~t1~~MK. Mt wot Y~i M. ~e~to~abk s1t.~rweY's fees. ssa eostt o~ docr~e~hry tNdewce. sestrsc~s awd ~itk eeprts. 19. io~rowe~'s R~Mt fo Reiwstste. Nawi~hs~and~ng 1 enders xcekratwn o1 the sums secured by ~h~s Mun~aae. Borrower shsll have the ri~ht to have any (+rocerdinc~ beN~^ bY Lender Io entorce Ih~s Mongage d~xontinued a~ any timt i ~ ~~`.~ 348 ~~~E 462 ; E -~-~ ~~_~~:~e _ _ - _ -~ ~?~ .+i..~ s~3s