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Home My WebLink About0920 . , ~ Lender's writ~en agrcement or applicable law. Borrower shall pay the amount of all moN~age insurance pro~iUms in the manncr pruvided under paragraph 2 fiereof. ~ ~ Any amounts disbursed by Lender pursuant to this para8raph 7, with intercst thtrton, shall bccome additional indebtcdness of Bo~rower stcurcd by Ihis Mortgage. lJnless Borrower and l.rnder agree to other tertns of payment, such amounts shall be payable upon no~ice from l.ender tu Borrower rcquesting payment thereof, and shall bear interest from the date of disbursement st the rate payable from time to time on outstanding principal under the Note unless asyment of 1 interest at such rate would be contrary to applicable law, in which event such amounts st~all bear inter+est at the highest rate permiss~blt unaer applicable law. Nothing contained in this paragraph 7 shall rcquire Lender to incur a~y expense or take ~ any action hercunder. 8. lnspectba. Cender may m~ke or cause to be made reasonable entries upon and inspectians of the Property, provided ~ that i_ender shall give Borrower notice prior to any such inspection specifyi~g reasonable cause therefor rclated to Lender'a ' interest in the Proptrty. 9. CondemnaMon. The procetds af any award or claim for damages, direct or conuquential, in conntction with sny condemnation or other taking of the Property, or pan thereof, or for conveyance in lieu of condemnation, are hercby assigned and shatl be paid to Lertdtr. ` in the event of a total taking of the Property, the proceeds shall be applied to ~he aims securcd by this Mortgage. with the excess, if any, paid to Borrower. 1n the event of a partia) taking of the Property, unlecs Borrower and Lender otherwise agree in writing. therc shall be applied to the sums securcd by this Mortgage such proportio~ ot the proceeds as is equal t~ that proportion which the amount of the sumc ucured by this Mortgage immediately prior to the date of ti taking txars to the fair market value of the Propcny immediately prior to the date of taking, with the balance of the proceeds ; paid to Borrower. lf the Property is abandoned by Borrawer, or if. after notice by I.e~der to Borrower that the condemnor o}ien to make an award or settle a claim for damages, Borrawtr fails ta respond to Lender within 30 days after the date such notice is mailed, Cender is authorized to collect and apply the proceeds. at Lender's optian, either to restoration or repair of the Prqperty or to the sums secured by this Mortgage. Unless [_ender and Borrower otherwise agree in writing any such application of proceeds to principa! shall not extend or postpone the due date of the monthly installmen~s referred to in pangraphs 1 and 2 hsrcof or change the amount of such lnstallments. 10. Borrawer Nof Rekased. Extension of the time for payment or modification of amortization of the sumc secured by this Mongage granted by I_ender to any successor in interect of Borrower shall not operate to release. in any manner. the liability of the ariginal Borrower and Borrower's succescor~ in interest. i_ender shall not tx nquired to commence proceedings against such successor or refuse to ertend ~ime for payment or otherwise modify amortization of the sums stcured by this Mortgage hy reason of any demand made bv the oriqinal Borrower and Borrower's successorc in interat_ 11. Forbearance Sy Lender Not a Wsiver. Any forhearance by I.ender in exercising aoy right or remedy hercunder, or oth~rwise aRorded by applicable law. shall not he a waiver of or preclude the eaercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not tx a waiver of Lender's right ta accelerate the maturity of the indebtedness securcd hy thic Mortgage. 12. Remedies Cnmulative. All remedies pmvided in this i?lortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded hy law or equity, and may be exerciseJ concurrently. inclependently or successively. 13. Successws and Assigas Eouad: Joint and Se~ersl I.iabitiry: C.aptb~s. The covenants and agreements herein contained shal) hind, and 1he rights hereunder shall imire to, the respective successorc and assig~s of Lender and Borrow•er, subject to the provisions of paragraph 17 hereof. All covenanls and agreementc of Borrower shall be jaint and several. T~e captions and headings of the paragraph~ of this Mortgage are for convenitnce only and are not to be uud to interprct or define the provisions hereof. 7 14. Notice. Excep~ for any notice required under applicable law~ to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall he given hy mailing cuch notice by certiRed mail addressed to Borrower at the Property Address or at such other addrecs as Borr~,wer ?r.ay designate by notice to T.ender as provided herein, and (b) any nutice to Lender shall he given by certified mail. retum receipt requ~~ted. to i ender't address stated herein or to such other address as Lender may designate b~• notice to Borrow•er as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrowcr or l.cnder when given in the manntr designated herein. 1S. Unifocm Moctaage; Go~ernina I~w; Se~etabiliq. This form af mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniCorm security instrument covering real property.'Rie state and la:al laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of federal law to this Mortgage. In the event that any provision or clause of this Mortgage or the Note conflicis with applicabfe law, such cunflict shall not affect other provisions of thi~ Mortgage ar the Note which can be given effect without the contticting provision, and to this end the provisions of the ~ I Mortgage and the Note are declared to be severable. ~ ~ 16. Borc~o~w~er's Copy. Bomrnvcr shall bc fumishcd a conformcd mpy of thc Note and of this Moctgagc ac che wne of ~ ezecucion or afcer recordacion hereof. ~ 17. Tran~fer of the Pr~x~ty; A~sumpoioa. If all or any part of che Propecry or an inccrut chrain is sold or cran~fcacd by ~ Borrowrer ~vi~rt Lendei s prior ~vnttrn cor~ene, e:cluding (a) the creauon of a Grn or encumbeance subordinate to th~s Morcgage. (b) che ueation of a purchase money security mcenst for hou~sehold appliznca. (cj a cransfa by devise, j descent or by operation of !aw• upon the death of a joint tenant or (d~ ihe grant of any Icasehold interest of three years or kss i not containing an option to purchase. I_ender may. at l.ender's op~ion. declare atl the sums secured by this Mortgage to be ~ immediately due ana payable. Lender shall have waived such option to accelerate if, prior to the .ate or transfer. Lendtr ~ and the person to wham the Property is ta be sold or transferred reach ~greement in writing that the credit of such pecson is satisfactory to Lenckr and that ihe interest payable on the sums secured by this Mortgage shall be at such rate as Lender ~ shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Bortower's successor in i ~ interest has executed a written assumption agreement a~cepted in writing by Lendsr, 1_ender shall release Borrower from all ' ~ obiigations under this Mortgage and the Note. ~ If Lender exercises such option to acrelerate, l.ender chall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice sha11 provide a period c+f not less than 30 days f~om the date the notice is mailed within ~ which Borrower may pay the sums declared due. If Borrower tails to pay si~ch s~~ms prior to the expiration of such period, ~ Lender may, without further notice or demand on Borrower, invoke aoy remedies permitted by paragraph 18 hereof. : ~ NoN-UNiFOant Coverr~tvrs. Sorrower and Lender further covenant and agree as follows: ' I8. Aeceleratao; Remedies. E:cept as proviiled ie ~s~raph 17 hereof, upon Borrowt~'s brescb ot aay corewt or ~ a~reemcot ot Eorrower in tbis Mortga~e. includir~ the coveaants to pay whcn due aay suras secored by thh Mort~s~e, I.teder ~ prior to sccekntbn shaU mW notice to 8orroKer as provided in psrs`nph 14 hercof speciEyin~: (1) tbe bresch; (2) tbe setio~ ~ required to cun socw breach; S3) a aate~ not {as than 30 days from tbe d~e tbe notke b s~aikd to ~rower, by wMie6 soeb ~ bre~ch must be cwed; aod (4) tbst failure to cure such breach on or before t6e date speci5ed i~ t6e sotkt ntay radt i~ sccekration ot the snms secnrcd by tbis Mortga=e. farecbsure by judkisl proceedis= sed sak ot t0~e Propertr. 'ILe eotice sha!! further talonu Eorrow:r ot tbe ri~bt to reinstate ~fter accekratioa aad the ri~~t to ~ert ie tbr foreciowrc ~+oceedb~ t~e noo-e:isleact oE a detaulf or aoy Mher detcase of Eorrovrer to accekration snd toreclawrt. It !be bresch k eot ro~ed o~ or before tbe date speci6ed ie Me aotics. Lcnder it Le~der's optlon may dectare ali oi the soms secored by tWs Mort`a~e ~ be ~ lmmediatdy due snd pyAbk without t~rt~er demaad snd enay forccbse thi~ Mort~~e by ~adiciai proceedit~. Lender ~II be eatitkd to collect io weti procEediee~ sB e:pesses of foreclowre, includiu=. bnt eat Na~ted tA, reaeussbk sttorae~'s tas. ~ awd cods of doc~a~eatary evidence. a6strub aad titk reporb. 19. ~orrowe~s Ri~bt to Reiestate. Notwithstanding Lender's acceleration of the sums xcured by this MoK~a~e, Borrower shall have the right to have any procecdings txgun by Lender to enforce this Mongage diuontinued at any time ~ ~ 3~'0 r~ 9i9 ~ - ~