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Home My WebLink About1192, •1~1J .~ ' ~ ~~~•~ Lenders wntten agreement or appl~cable law. Barower sha11 pay the amount ol all mortgage ~r~surance prem~um5 m Ihe manner provided under paragraph 2 hereol Any amounis disbursed by Lender purSUant lo Ihis para9~aph 7, vmth ~nterest Ihe~eo~. shall become add~t~onal ~ndebtedness ol Borrower secured by th~s Matgage. Unless Bor~owe~ a~d Lende- agree to other terms of paymenl, such amounls shall be payable upon notiCe Irom Lender to 8orrower requesl~ng paymenl the~eot, and shall bear ~nteres! Irom ihe date oi d-sbursemenl at the rate payable !rom Ume t0 t~me on outstand~ng pn~c~pal under the Note un~ese payment ot ~nterest at such rate would be contrary• to appl~cable law, i~ vrh~Fh event such amounts shall bea+ mteresl at the h~ghest rate perm~ss~ble under appl~cable iaw Noth~ng conta~ned ~n th~s paragraph 7 shau reqw-e Lender to ~ncur any expense or take any act~on hereunde-. ' 8. Insp~ctfon. Lerxier may make or cause to be made reasonaDfe enlr~es upon and ~nspect~ons of the Property. prov~ded that Lender shall grve Borrower not~ce pnor to any such mspect~on spec~fy~~g reasonabie cause iherefor re~ated ~o Lenders mterest in ihe Property ~. COndNnn~tiql. The proceeds of any award or c~aim ipr damages, d~rect or consequsnt~al. ~n Connect~on w~lh any condemnation ot other lak~ng of ihe Property. o~ part thereof. or for conveyance m I~eu ot coRdemnaGOn. hereby ass~gned and snall be pa~d co ~ender. In the event of a total tak~ng ol the Property. the proceeds sha1~ ~ apphed to me sums secured by th~s Mortgage w~th the excess. ~f any pa~d to Bonower. In the event ot a oart~a~ tak~ng of the Propeny uniess Borrower and lender othen~r~se agree m wnt~ng, there shau be appi~ed to the sums secured by th~s Mortgage such proport~on ot the proceeds as ~s equal to that proportion which the amount of ihe sums secured by this Mtxtgage ~mmed~tely pr~or 1o ihe date ot takmg bears to the lai~ market vaiue of the Property ~mmed~ateiy pnor to the date of tak~~g, rnnth the balance ol tne proceeds pa~d to the Borrower. It the Property ~s abandoned by Borrower, or ~f. after not~ce by Lender to Borronrer tnat tl5e oondemnor offers to make ~ an award or settie a cla~m for damages Borrower ta~is to respand to LeRder w~th~n 30 days aiter the date such noi~ce ~s ma~ied. Lencier ~s aulhonzed to collect and app~y the p-oceeds. at Lendeis opt~on. e~ther to r~¢storat~on or repa~r ol the Propeny o- to the sums secured by th~s Mortgage. Uniess Lender and Borrowe- otherw~se agree m Nnung. any sucn app~~cat~on ot proceeds to prmc~pa~ shau ~ot extend or postpone the due date ot the monlhly ~nstallments referred to ~n paragraphs 1 and ? he~eof or change the amount ot sucn mstal~ments - 1 O. 8omow~r Not R~I~ss~d. Extension ol the t~me fo~ payment or m~dif~cat~on ot amortiiat~on ot ihe sums secured by tn~s Mo~tgage granted by Lender to any successor m mteiest of Borrower shali not operate to ~etease. m any manner. ~ne nab~i~ty of the ong~nai Borrowe~ and Barowers successors ~n mterest len~+e~ shaii not be requued to CommenCe p-oceed~ngs aga~~st such successo~ or retuse to extend t~me fa payment or othen~r~se mod~ty amort~zat~on ot the sums secured by th~s Mortgage by reason of any demand made by the or~g~na~ Borrower and Borrowers successors ~n mterest. 11. Forb~sane~ by L~nde~ Not a Wsiwr. Any forbearance by Lender ~n exerc~s~ng any r~ght or remedy hereunde- o- otr,erw~se atforded by app~~caDte ~aw. sha11 not be a wa+ver of or prectude the exe~c~se ot any such r~ght or remedy. The procurement of msurance or the payment of taxes or other I~ens or ~harges by Lender shalt nol be a wa~ver ot L~nder s ~~ght tc accelerate the matunty ol the ~ndebtedness secured by th~s INongage. 12. Rem~dles Cumulstiw. An ~emed+es prov~ded m th~s Mortgage are d+sbnct and cumu=at~ve to any other r~ght o~ remedy under th~s Morigage or afforded by taw or eqwty. and may be exerc+sed concurrentty. ~ndependently or successrveiy 13. Successors snd Assi~ns Bound; Joint snd S~v~rsl Llabilitr Csptions. The covenants and agreements nere!n conta~ned shall b~nd, and the r~ghts hereunder s~all ~nure to. the respect~ve successors and ass~gns ot Lender and Borrower. sub~ect to the Grov~s~ons ot paragraph 17 hereo! Ail covenants and agreements of Borrower shall be io~nt and severai. The capt~ons and head~ngs of the paragraphs ot th~s Mongage are for coven~ence only and are not to be used to mterpret or detme the prov~srons hereof ' 14. Notic~. Except for any not~ce requ~red under appi~cabte ~aw ~o be g~ven ~n another manne~.la) any not~ce to Borrower prov~ded (or m th~s Mortgage s~au be g~ven by ma~img such nouce by cert~hed ma~i addressed to Borrower at the Property Address or at such other address as Borrower may des~gnate by n~t~ce to ~Lender as prowded herem. and ~b- any noUCe to lencler shaU be g~ven by cert~hed ma~1. retum rece~pt requested. to Lenders address staled herem or to such other add-ess as lender may des~gnate by not~ce to Borrower as p.ov~ded here~n Any nol~ce provided for ~n this Martgage shal~ be deemed to have Qeen g~ven ta Borrower or Lender wnen g,ven ~n the manner des~gnated here~n 15. Unitorm Mort~a~; Gowminy Law; S~wability. Th~s torM of mo-lgage combmes un~torm covenants to- ^an~nai use and norf urnform covenants :v:ih~[~t~'~+TP(1 vA•.~?~ons bv t~~~s~i~cf:~n Io Consh~ute a un~torrr; SC'Cu-iiy ~r15TruTE+n1 •%':el~~~ ~ea! properiy The state an~i :GC~~ ~dWS aQ=~'~Cdb~t !G 'hc5 !NIr7r?!)a(~~ c~~:~ be the !aN5 C1 ?t]P ~Uf+SdiCiiO!1 ~!~ whtCh '^~.' P~ operiy ~s Ir,catecf The !orego:^C~ Se~11E'n~P 5!?a1' ^.01 !:I!',~t !ne ap~ ~cae,;;cy ,t tedefa+ ~av~~ to m~s mortqage in me event '.^di d/ty prOV~StOR OI C~duSP Cf iht5 ~A~irt~a(~PO~!hP ~j~iE' ~~;r+`'iCTS :.~tn ~~',F~::Cn:~!~-'ci'.r SuCh CO^'itCt Stia~! ~1(~i a}fefT Uf!~P! (:I~~:'~s~nns of th~s Martgage o~ the DJritP ,Vhirt~ Can DF• C~~Ye-1 Pf!f?rt ~5~~!?:~i.~ ~^E ~:~,i?! 'r*~nC: r~*: ~y'~S:r;+? ~•;(j •~, ~~•yS Pr1f~ ~hP :1'O.~s+cns of ?r.e Mo-tgage and tne ~dcte are csec~a•en :O fiP _E'vEc~dh_P 18. Bortow~r's Copy. 8orrower shali be tur~~shed a~onformed copy of the N~!e and ot th~s Mortgage at the t~me o~ execut~on or afte- recordabon hereof 17. Tnnsi~rof th~ Prop~rty; Assumption. It a1i orany ~,art ot tne P+apeny a- an ~nterest there~n ~s so~d or transferred by Borrower w~thout Lende~s pnor wntten consent, exciud~n9 ia1 the creat~ort o` a tsen or encumbrance subord~nate tc- tn,s Mortgage. (b) the creatwn oi a purchase money secunty mteres: !or haussttotd app~~ances. (c- a transier by dev~se. descent or by operat~on of !aw upon the death of a ~o~nt tenant or (d~ the grant ot any leasehold ~nterest of three years or less not conta~n~ng an opt~on to purchase Lende~ may. at Lender s opt~on. deciare aIi the sums secured by th~s Mortgage to be :rrrr,ed~ateiy due and payabte Lender shait have wasved such opt~on to acceterate ~f pr~or to the sale or transfer. Lender and the person to wt-om the Property ~s to be sotd or transiersed reach agreement ~n wr~t~ng ihat the cred~t of such person ~s sat~stactory to Lender and that the ~nterest payab:e on ihe sums secured by th~s Mortgage shal! be at such rate as Lender shaU request. li Lender has wa~ved the opt~on to accelerate provrcieci m th~s paragraph t 7. a~d if Borrowers successor ~n ~ nterest has executed a wniten assumphon agreement accepted m wnung by Lende-. Lender shau re~ease 8o-rower irom atl or,i~gat~ons unde~ th~s Mortgage and ~he Nete ~ ~ If Lende- exe~rc~ses such ophon to acceierate. Lender sha11 ma~~ go+rower nouce of accele~at~on ~n accordance w~th L~a-agraph 14 hereof.. Such not~ce shali prov~de a per~ad ot nat iess thai 30 days irom Ihe date the nol~ce ~s ma~ied w~th~n wh~ch Borrower r~ay pay the sums dectared due. If Borrower ta~is to pay such sums R~b~ to the exp~rat~on of such per~od. lender may. w~thout further not~ce or demand on Borrovrer. ~nvoke any remed~es perm~tted by paragraph 18 hereof. F~ON-UNIFORM COVENANTS Bo-rower and Lender further covenant and agree as toIlows: 18. Acc~l~atbn; R~m~dl~s. Excspt q provid~d in p~~ptiph 17 h~nM, upon Bomow~rs bnach oi any covenant or s~n~m~nt oi 8orrow~r in this Mortpap~. includlnp qN cownaMs to pa~- wh~n dw an~r wms secur~d by this Mo~t~a~, L~nq~r prtor to acc~l~raUon shalf insil Qot~ to 8omovwr as provid~d in psn~rsph 14 heroof spsciiyin~: (1) tM bhach; (~) tha sctfon nquind to cun such bnich; (g} ~ dat~, not I~ss Msn 30 days from th~ dste the notic~ is msil~d to BoROVwr, by which wch bn~ch must b~ eund; aed {4) that failun to cun wch bnach on or beton th~ dat~ sp~ciiNd in th~ notlp may nsuit in acc~l~ration of th~ sums s~cund b~- this Mort~p~, foreclosure by Judicisl proci~dtn~ snd aal~ of th~ Prop~rtr. Th~ notics sha~1 futth~r inform Bonow~rof th~ ~ht to reinststs aitsr acc~l~ratfon and th~ ~i~M to asNrt In th~ fonclosun pnoe~dinq tM non-~~cisbnc~ of a d~fsuk or~ any otMr dsfens~ of BoROw~r to sccii~rstlon and tohclown. N tf~ tir~ach b noR cund on or b~ton th~ date specfti~d tn th~ notiu, L~nd~- st L~nd~rs optlon may d~cisn sll of tla sums s~cund by this Mort~s~ to b~ immedlst~ly du~ and_psyabl~ without fu~tMr d~msnd and may tohclos~ this Mo~s~ by judi~la~ proc~ed~no, Lender.shall b~ ~ntitlsd to coll~ct in such procNdin~ sii ~xp~ns~s o/ fonclosun, includin~. but not 1(mited to, reasonabl~ attome~s fs~s, snd coats of docuia~ntsry ~vid~nc~, sbstrscts snd titl~ nports. 19. Borww~rs Rfyht to R~insLte. Notw~thstand~ng ! enders a~ce:erat~on of the sums secured by th~s Mortgage B,r.~,we- snau nave the nght to have any proceed~ngs begun by Lende~ to enlorCe th~s Mortgage d~SCOnt~nued at ~ny time ,. ~,~~4~ ~~~,~1.1~ ~ ..~ ~ ~::~- . ~~,;~:~:~~-~~~.~~ ~~ ~ - . :4 ' ~ _;~ _ . -