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Home My WebLink About0971 ~ ~ ~ ~ _ . ~i ' Lender's writ~en agreement or applicable law. Borr~wer sha~l pay the amount of all moriga~e insurance p~miums in ihe manner provided under paragraph 2 her~of. Any amounts dishursed by Lender pursuant to this paragraph with interc3t thereon, sh~ll become additionai inJeh~edness of Horrower secured by this Mortgage. Unles~ Bor~owe~ and l.ender agree to other terms af payment, such ~ amounts shall be payable up~~n notice from (.ender ~o Borrower requesiing payment thereot, and sfiall bear interest from the date of disbursement at tfie rate payable trom time to ~ime on outstanding principal u~der the Note unless paymtnt o! , ~ interest at such rate would be contrary to applicable law. in which evens such amounts shall bear interest at the highest rate ntrmi4~ihlt :!n~!er ar~l~r3h~r l~Mr Nnthino cnntaur~ +n lhit ;+~rag~anh ? ahall rcauirc I_ender to lncur any ~;QFnse or teke ~ , any action hereunder. 8. IaspecNoa. I.ender may make or cauu to be made reasonable entries upcm and inipections of the Property, provided that Lender shall give Borrower notice prior to any such inspection speciFying rcasonable cause therefor reiated to Lender'a interest in the Prope~ty. '9. Condemnation. The proceeds of any award or claim for damages, direct or conuquential, in co~nection with any condomna~ion or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hercby assigned and shall be paid ta Lender. In the event of a total taking of ~he Property, the proceeds shall be applied to the zums secured by this Mongage. with the excess, if any, paid to Borrower. in the event of a partial taking pf the Property, unlas Borrower and Le~der otherwise agree in writing, therc shall be applied to the sums secured by this Mortgage such proportion of tbe proceeds as is equal to that proportion which the amount of the sumc secured by this Mortgage immediat~ly prior to tht date of taking bears to the fair market value of the Property imm~diately prior to the date of taking. with the balance of the proceeds paid ta Borrower. if tht Properly is abandoned by Borrower, or if. after notice hy Lender to Borrower that the condemnor offen to make an award or settle a claim for damages, Borrower fails to respond to [.ender within 30 days afltr the date such notice is mailed. Lender is authorized to collect and apply the proc~eds, at i.ender's option, either to restoration or rcpair of the Property or to the sums secured by this Mortgage. • ~ t7nlesc Lender and Borrower Wherwise agree in writinc a~y such application of procreds to principal shall not extend or postpone the due date of the monthty installments referred to i~ paragraphs 1 and 2 hercof or change the amount of such installments. ~ 1Q. Borrowe~ Not Rekased. Eztension of the time for payment or modification of amortization ot the sums secured "by this Mortgage granted by I_ender to any successor in interect of Borrower shall ~ot operate to rclease. in any manntr, the liability of the original Borrower and Borrower's succes~orc in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage.hy reason of any_ demand made by the original Borrower and Borrower's succescors in intere~l. ; 11. Forbearance by Lender Not a Wairer. Any f~rhearance by 1_ender in exercising any right or remedy hercunder, or ! othcrwise a(forded by applicable law, sh~ll not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall nat he a waiver of Lender's right to accelerate tht maturity of the indebtedness cecured hy thit Mortgage. ti 12. Remedks Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any othe~ right or ~ remedy under this Mortgage or afforded hy law or equity, and may be exercised concurrently, independ~ntly or successively. 13. Successors and Assigns Bound: ]oint and Se.eral Liability; Captions. The covenants and agreements hercin ~ contained shall hind, and the rights hereunder shall imire to. the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17 hereof. All co~enants and agreement~ of Borrowtr shall be joint and several. The captions and headings of the paragraph~ of this Mortgage are fnr convenience only and arc not to be used to interpret or define the provisions hereof. 14. Nofke. Exc~pt for any notice required under applicable !aw to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certified mai) addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to i.ender as provided herein, and (b) any notice to Lender shall be given by certified maii. return receipt requested. to I ender s address stated htrein or to such other address as Lender may designate b~~ notice to Borrower as provided hercir. Any notice provided for in this Mortgage shall be dtemed to have been given to Borrowcr or Lcnder when given in the manner designated herein. IS. Unifam MortEaae; Go~emina Izw; Se~eab+liq. This form of mortgage-combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering ~ real property: The state and loca! laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is. ~ ; located. The foregoing sentence shall not fimit the applicability of federal law to this Mortgage. In the event that any - ; provision or clause of ti is Mor~gage or the Note conflicts with applicable law, such confliet shall not affect other provisions t of this Mortgage or the Note which can be given effect without the conflicting provision, and to this end the provisions of the ~ Mongage and the Note are.declared to be severable. ~ 16. B«cuwer's Copr. Boreu~ver shall be fumished a conformrd copy of the Nou and of thit Mortgage at the time of , ~ execvcion or after c+ccordacion hereo£ ~ ~ 17. Tnn~er of che Pcopecty; A~sumpcion. If all or any parc of t4~c ProPerry or an inceresc cherein is sold or truufccred by ~ ~ Boaower withourt Ltnder's pnor wmtten consent, ezcluding (a) t6e creauon of a lirn or etxumbeance w~rdinate to ths ~ Mongage, (b) the cmuon of a purchase money sccurity ~nterat for household applianca, (c) a tran~er by drvise, descent or by operation of law upon the death of a joint tenant or (~i? thc grant of any leasehold interest of three years or less not containing an option to purchase, [_ender may, at l.ender'a option. declare all the sums secured by this Mortgage to be ~ immediately due and payable. Lender shall have waived such option to acceierate if, prior to the sale or transfer, Len~er ~ and the person to whom the Property is to be so•.d or transferred reach agreement ~n writing that the credit of such pecson is satisfactory to I.tnder and that the interest payable on the sums secured by ~his ~ortgage shall be at stuh rate as Lender ~ shatl requtst. lf Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~ interest has executed a written assumption agreement accepted in writing by _Lender, Lender shall release Borrower from all ~ obligations under this MoRgage and the Note. If Lendtr exercises such option to accelerate. Lender shall mail Borroa-er notice of acceleration in accordaoce with ~ paragraph 14 hereof. Such notice shall provide a periocf of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to tfie expiration of such period, _ Lender may, without fucther notice or demand on Borrower, invoke aoy remedies permitted by paragraph 1R hereof. ~ ' NoN-UN~FORnt CoveN~tvTS. Borrower aRd Lender further covenant and agree as follows: i i ~ l8. Accekr:fao; Rsmediea. E:cept aB provided in paragrs~ph 17 hereof. upon Eonone~'s brcach of say caveeaut or ~ • agretmeat of Borrower in t6is Mortgs~gt, including tbe covena~ts to pay when dut sny sums secured Dy thh Mortas~e~ Leader s prbr to accekratba shal! mail aotice to Borrower as proridcd ia para~nph l4 bereof specifyiu;: (l) tbe breacb; (2) tbe sctbs rcqaired to cure sach bre~h; (3) s date, iwt las t6an 30 days from !he dste the notice is malled to ~orrow~er~ by whk6 ax6 bnsch must be cared; and (4) that t~riluro to cure s~ch bresch on or befors the date spet~ed in the ootke war raelt ia € ~ccekntbn ot t6e son~ secnred fiy thia MortEsge, forcclowrc by judictal procceding and sak of tbe Pmperty. 7be notice ' ~ shap further intorm Borrower of the rig6t to ninstste after ucckntioo aed the ri~ht to assert in t6e fortclowre procee~ E tLt noo-exi6tence ot a defanN or any other defense of Borrower to acce{cntion and foreclosnrs. !f Me brcach is oot rueed oa ~ ~ or beton t6e date specifie~ in the ~otice, i.ender at I,eode~'s optjon may dsclare aI! ot tbe wms secnred by thb Mort;a~e to be Immedistely dne sad pyabk withaut [u~4ber demand and may forcclose !hb Mortaa~e by judicW proeecdir~. Lender dWl ~ be entitled to coikrt ia suc~ procesdi~ aN e:pensa of forcclosnre, includi~. but aot Wnlted to, reasoaabis attoroey's fea, € aad costs ot docnmentary evideoce, abstracls sad titk rsports. 19. Eorrower's Ri~bt to Reindste. Notwithstanding Lender's acctleration of the surt~s securtd by this Mort~a~e, Borrower ahall have tht right to have any proceedings txgun by Lender to enforce this Mortgage discontinued aC any tir.x ~ BQOK t~.~1UQ PAGE a~9 i ' . . - ~ ~ : ; - r ~ _