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Home My WebLink About0950 ' • + ~i~. ~l~~t! I.Cn~cr's wnttcn agrcrment or appficable lew. Borrower shall pay the unount of all mortgage insurance prcmiums in the mann~r pr~~vidr~l under parag~aph 2 herco[. Any amounl~ ~li~hurud by I.~n~ler pur~uant to this paragraph 7, with interest therton, shall b~comt additional inilchicdncsc u( BurruHrr ucund by thi~ Mar~gage. Unlets Borrower and I.ender agrce to otfier tertns af payment, such am~~unt~ shall ~x payable upe~n nutire frc~m Lende~ tq ~O'er~requecting payment ~hereof, and shall bear interest from the date of di~bursemem at the ratc payahlc fmm time'~itnC dh outstanding principal under the Note unless payment of interect at such rate would be contrarv ~o applicable law, in which event such amounts shall bea~ interat at the F~i6hest nte pcrmissible under applicable law. Nothing containcd in this paragraph 7 shall rcq~~irc [.ender to incur xny expense or qke any action hereunder. S. Inspection, l_ender may make or cause to be made rcasonable entries upon and inspections of the Property, provided that l.ender shall give Borrower nutice pric~r to any such insQection speci(ying rtuonabk cause therefor rclated to Lender't interest in the Property. 9. Coodemnatbn. The proceeds of any award o~ claim for damages, diroc~ or consequential, in connectlo~ ~?ith any condemnation or other taking of th~ Property, or part thercof, o~ for conveyance in lieu of coodemnation. are hertb~? assijned and shall be paid to Lender. ln the evtnt of a tat~l taking of the PropeNy, the proceeds shall be applied to the sums secured by lhis MortEaae, with the ezc~ss, if any, paid to Borrower. in the event of a partial taking of the Property. unless Bomower and I~nder otherwise agrce in writing, therc shall be applied to the sums securcd by this Mortgage such proponion of the proceeds _ as is equal to that proportion w•hich the amount of the sumc secured by this Mortgage immedistely prior to the date d taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. ! If the Property ic abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor oRets to make ' an award or tettle a claim for d~m:,gcs. B~rr~wer fail. to respond to Lender within 30 days after the date such notice is mailed. I_ender ic authorized to collcct and apply ~he proceeds. at I_ender's option, either to rcstontion or repair of tlfe Pmperty or to the sum~ sccured h~• this Mongage. Unlesc Lender and Borrower otherwice agree in w~ritin~, any such application of proceeds to principal sha1) not exteod or poctpone the due date of the monthly installments rcferred to i~ paragraphs 1 and 2 hercof or change the amount of such installments. 10. Borrower Not Rekased. Extension of the timt for payment or modification o[ amortiution of the sums setured by this Mortgage granted by I_ender to any successor in interest of Borrowtr shall not opente to rekase, in any manner. ; the liahility of the original Borrower and Borrower i successon in intercst. i_ender shall not be requirtd to commenx ; proceedings against such successor or rcfuse to extend time for payment o~ otherwix modify amortiut~on af the surm secured by thi~ Mortgage by rcason of any demand made by the oriqinal Borrower and Borrowers aicccuon in intercxt. 11. Forbearance by I.ender Not a Waiver. Any fortxarance by I.ender in extrc+sing any right or rcmedy haetmder. or ntherwise a(iorded by applicable law, shall not be a waiver of or preslude the exercise of any such right or remedy. The procurement of insurance nr the payment of taxes or other liens or charges by Lendtr shall not be a Nraiver of Lender's ~ight to acrelerate the maturity of the indebtedness cecured hy this Mortgage. 12. Remcdies Cnmulati~e. All rcmedies provided in this Mortgage arc distinct and cumulativc to any other right or remedy under this Mortgage or atiarded by law or equity, and may be exercised concurrcntly. independently o- successively. ' 13. Successors and Assi~ns Baund:.7oint and Several tLbility; Csptbns. The covenants and agreements hercin contained shall bind. and the riRhts hercunder shall inurc to. th~ rcspective successon and assigns of Lender aod Borrower. subject to the provisionc of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and art not ta be used to interpret or de6ne the provisions hereof. la. Notke. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortga¢e shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such olher addresc as Borrnwer mav designate by notice to f_ender as provided herein, and I (b) any~ notice ro Lender shall Fie given hy certified mail. rctum rcceipt rcquested. to I.endtr s address stated herein or to j such o~her address as Lender may decignate b~• n~tice t~ Borrower as providrd hercin. Any notice providtd for in this ~ Mor~gage shall be detmed to havc t+een given to Borrower or Lender when given in the manner designated herein. lS. Uniform MoriR~c; Governin~ [.aw: Severability. This form of mortgage combints uniform covenants for national ! uu and non-uniform covenants with limiteJ variations h~~ jurisdiction to constitute a uniform stcurity instrument ooverins ! real proptrty. This Mortgage shall be governed hy ~ht law of the jurisdiction in which the Property is located. 1n the E event that any provision or clauce of thic Mortgage or the No~e conflicts with applicable law, such conflict shall not a}fect ( other provisions of this Mortgage or ~he Note which can be given eflect wi~hout the conflicting provi~ion. •nd to this ~ end thc provisians of the I?lortgage and Ihe Note are declared to be severable. l6. Eorrowe~'s Copy. Borrower shall be furniched a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Properfv: AssumPtion. If all or any part of ~he Property or an intercst thercin is sold or transftrred by Borrower without Lender's prior writicn consen~. excluding (al the creation of a lien or encumbrance subordinate to s~ this Mortgage. (b) the creat~on of a~+urchace mc•ney ~ecurity interest for houxhold applianc~s. (c) a ~ransfer hy devise. ~ ~ descent or by operation of law upon the Jea~h of a jo~n~ tenam or (dl the grant of any leasehold intercst of thrcc ycan or kss ~ not containing an option to purchau. Lender may. at l.ender'c ophon, declare all Ihe sums secured by this Mortgage to be ~ ~mmed~ately due and payahle. [.ender chall h~ve wa~ved such option to accelerate it, prior to the cak or transfer. Lender ; and the p~rson ro whom the Properry i~ ~u bc :nIJ or transferred rtach agrerment in writing that the credi~ nf such perxon ~ is satisfactory to I.enJer and that the intcr~.t payable on tbe sums securtd by ~his Mortgage shall be at soch rate ac Lender ~ shall rcqucst. (f I_ender has waived the option ~o accelerate provided in this paragraph 17, and if Bortower'~ suceessar in ~ interest has executed a wntten assump~ion agreement accepted in writing by Lender, Lender shall rek~se Borrowe~ from aH obligat~ons under this Mortgage and the Note. j If Lender exercises such option to accelerate, Lender ~hall mail Borrower notice of acceleration in accorA~nc~ N•i~h ; paragraph 14 hereof. Such notice shall prov~de a period o( not less than 30 days from the date the notice is m~iled within ~ ~ which Borrower may pay the sums declared due. 1( Sorrower fails to pay such sums prior to the expiration of wch peric?d. ~ Lender may, without furthcr noficc or dcmand on Horrower. invoke any remedies permitted by parognph 1R hercof. NON-UNIFOfiM COVENANTS Borrosver and Lender further covenant and a6ree u follows: ~ ~ i8. Accelcratan; Remedks. Escept as provlded io para~npM 17 btreof. opo~ iorrowers breacl~ ot aay ca~t~t or , ~ a=rcement of Borrowtr in this MortRa~e. includin~ t6e coveaiMs to pay whep due aay sr~ws seeured ~r tbh MortRq~e. I.ewder ~ prior to arcelention shdl mail notice to dorrower as prorided In psra~rapA 14 hereo~ specHyins: E1) tl~t brracA; 121 tAe setio~ ~ requlrcd to cnse such bnach; (3) a dste. not ksa than 30 days trom tMe dste the notke is maikd to Sorrowe?. by wAkh seeM breach mwt be cored; and (4) thst fdlure to cnre sncb breacM ow or betore Ibc dMe specibed ie tAe wotke ~ay resrlt i~ ~ accekration of ihe snms mnred by th~s MorlRaRe. fo~eclowre br judkial procetdiw~ aad sslt ot the tro'ertq• 'ibe ~ot{ee sha~l further inf~rm Eorrower of tl~e ri~M to niRStatc d~er sccekr~tiow aa~ tl~e ri=bt b aaeri h tbe torecbsrre Moeeedi~ ~ tbt non-existence of a dehuh or anr other dtfcnse o/ Eorrower to secekrsfbw aud toreclow~e. It Me bnscA is ~of c~reeA a~ ~ or be(ore tAe date apecified ia the notice. Lender at [.ende~'s o~lio~ a~ar Aeeb:e dl ot the wras stnrrd by fi~ Morf~tRt to bt immediately due and paysDle wifhout fuNber demand and msy tomlose this Mo~a~e by judkW pe~oeeedisR• ~•ender chaN ~ be eotitled to colket in sach proceedir~ afl expenses of forecbstire. fnclydfee~. b~t ~ot Yn~ited to. nasons~le ~n~~rnrv's fees, and costt of doc~n~entary evidence. abstrscts and Iilk reports. ~ 19. dorroaer's Ri`ht to Reinslatt. Notwiths~rnding 1 ender's accelerat~on ot the sums secured by ih~t Mongage. ~ Borrower shall have the right to have an~ prcxerd~nc~ br~,un b~ Lender to enforce th~s Mortgagc d~scont~nucd at any time ~ ~ 3s1 P~ 949 - k,_.~ _ -