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Home My WebLink About0960 ~ { ~ .~:,:,3i~ ' ~ t~'j ~ ~x Lende~'s written a~reeaxnt or applirable law. Borrower shali pay the amount of all mort~a~e insurance prcmiums in the maoee~ provided under pa~a~nph 2 hereoL ~ Aay amounts disbursed by Lender punuant to this paragraph 7, with intercst thercon, shal) become additional ' inde~tedness of Borrower secured by this Mortgage l3nlc.s Borrawer anJ [.enJer agree to other terms of payment, such ; smounb shall be payable upon notice f~om I_cnder to BorrowCr requecting paymrnt thereof, and chall txa~ intercst trom the ! date of disburaement at tho rate payable from time to time on oolstanding principal under the Note ~inless paymrnt of y interat at:uch rate would be contrary to applicable law, in which event such amaunts shall bear interest at the highest tate ~ permiaible under applicabk law. Nothiog contained in this paragtaph 7 shall require I.ender to incur any expense or talce ~ any sction hereuoder. ~ I~ttHo~. Lender may make or cause to be made reaso~able enlriec upon and inspections of the Property. provided that Lender shall =iv~e Borrowe~ notice prior to any such inspection specifying rcasc~nable cause thercfor related to Lender'a ~ 3 interest in the Pmperty. ! Co~iete~Mb~. Tht proceeds of any aw•ard or claim for damages, direct or con.cyuential. in connection with a~y ; eondemnation or other taking of the Property, or paN thereof. or for canveyance +n lieu of co~demnation. are hercby assigned and ~all be paid to Lender. In the event of a total taking of the Prope~~y. the proceeds sball be applied ~o the sums secured by this Mo~tgage. with the excess, it any paid to Borrawer. In thc event of a partial taking ot. the P~operty unlecs Horrower and Lendtr otl~?ae s=roe in writin~t. therc shall be applied to the cums securcd by this MortgaRe such, prapottion of the procteds as is equal to that proponion whicl+ the amoun~ of the sums secured b~~ this Mortgalte immed~ately prior 1o the date'of ~ takit~ bears to the fair market valuc.of thc Propcrty immediately prior to the date ot taking, with the balance of the proceed~ paid to Horroaer. It tbe Property is abandoned by Bc?rrower. cK if. after nMice hy Lender to Borrower that the conde~nnoor oRen to malce ae a~rud or settk a claim for damagcs. Borrower fails to rcspc~nd to Lender within 30 days after the date such notice is mailed, Lender is udhorized to collect and apply ~he proceeds. at Lender's option. either to rcctoration or repair of the Propeny or to the.wms secun~i by this Mortgatte. ~ Un1as [.ertder and Borrow•er othervvise agrce in writing. aoy such appliration of proceeds to principal shall not extend ~ or postpone the due dale of the monthly installmcnts referrcd to in paragraphc 1 and 2 hercof or change the amount of = ~ such inst~ilments. ; 1~. ~orrower Not Relezsed. Extension of the timc for payment or modifiration ot amorlization of the ~sums secured by this Mortgage granted by Lender to any succeswr ~n intrrest of Borrower shall not operate to rclease, in any manner. the liability of the original BorroK•er and Borrower's success~~rs in interest. lender shall not be rcquired to eommence proceedings against such successor or refuse to extend time for payment or otherv?ice me~dify am~rtization of the sums secured by this Mortgage b}• reason of ~m• demand madc by the original Borro«er and Bc?rrow•er s successon in intercst_ IL Forbearsnce by Lender :~ot a Wai.er. :1ny fonc~arance by Lender in exerciaing an~~ right or remedy hercunder, or othenvix afforded by appticahle law•. shall not t.~ a wai~•er ~f or preclude the exercise of an~• such right or remedy. The procurement of insurance or the papmcnt of tazes or other fiem ur charyes hy (.ender sha11 not be a waiver of;Lender's ' riaht to accelerate the maturity of the indebtedness srciired by this Mortgage. ~ l2. Remed'~es Cumulativt. All remedie~ providcd in thii ~tortgagc are disnnct and rumulati~e to ant• othcr right or - rcmedy under this Mortgage or aftordc~f hy law ~,r rqui~c. ~n~ may hc rxrrci~eil cnncurreMh~. independently or suecetsivdp. 13. Snccessors and AssiRns Bound: Joint and Scveral l.iability; C~ptions. The c~~•enants and agreements fiercin rnMained shall bind, and thc rights hcrcunder shai{ i~u~r to. the rt5peiti~c succtss~~rs and assigns of I.ender and Borrower. subject to the provisions of paragraph 17 hcrc~~f All coven:~nts and agrcements ~f Borrow•cr shall he j~int and several. The captions and headings of the paragr.phs of thiti Mortgagr arr for c~n~•enience onl)• and aie not to be aud to interprct or de6ne the pro~~icionc hereof. ' " ~ 1!. Notice. Except for any notice reyuired under spp~~rehlr law t~~ be gi.'en in anather manner. (a) any notice to ~ Borrower pro~ided for ~n this titortgaee ~hall be gi~~rn by mailing w;h n.~tict b~ certified mail addressed to Borrower at ~ the Property Address or at such other address as Burn•:ver may des:gnate hy ~.~tice to Lender as pmvided herein. and ~ (b) any notice to l.ender shall be ~?iven b~~ cert~fied mail. retum re:ei{+t requested. to Lender s addrecc stated herein or lo = sueh other address as [_ender ma~ desicnatc hy notire tu Borr«~wer as provide~l herein. Any notice provided for in this ~ I?iortgage shall be deemed to ha~e bccn given to Rorruwer rr Ltndcr whcn gi.•en in thc manner de~ignated herein. IS. UnHorm Mort~aRe; GoverninR Law; SeveraM'lity. This f~rm ~~f mortgage c~mhines uniform c~venantS for nationa) ~ ux and non-uniform covenants uith limite.! ~ariati.~n. hy jurisd~~tiun ~o constitute a,uniform security instn~ment covering ~ ltal property. This Mortgage sh~ll he g~~~~enud by thr law ~f !he juris~lirtion in ~hich the Property is located. In the ~ event that any provision or clau~e of thic ~lortgace ~~r thr 1'ute ci~nfli:ts with ap~lic~hle law•. such conflic~ shall not affect E other provisions of this Mortgage or the '~~~tr wh~ch ran he givrn efiect Mithout the conflic~ing provi~ion. and to this f end the provisiom of the Mortgagc and thr t~~~tr arc dectared to hc se~~erable. ~ 16. Dorrower's Copy. BorroHer Sha11 i.~ furnisheJ a am(~~rmrd c~~p~~ ~~f the Note and t~f this ~liortgagc at the time - ~ of execution or aher recordation hereof. E 17. TraRSfer ot f6e Properf~: AcSUmplion. 1f aU ~~r any part of the Pr~~per,~• c.r an interett therein ic s~ld or trantferred ~ by Borrower without Lender's prior urit~rn ~.~me~~t. txcluding la? the crea~i~n of a lien or encumhrance suhordinate to ~ this Mortgage: (h) the creation of a purch.,se m~~ney ~ecuri~v interest f~~~ he.uaeh~~ld apptiances_ (cti a trancfer h~• devise. ~ descent or by operation of law upon the death uf a joint tena~t or (d~ thc crant of am Itacehold interest ~f thrce )•cars or less ~ _ not containing an option to purchase. Lender may, at Lender'S optii~n. declarc all the tum~ secured b~• this Mortgage to be immediately due and payable. i.ender shall ha.e wai~•ed such op~ion to a.celerate if prior to the sale or ~ransfer. I.ender ' ~ and lhe person to whnm the Propert~• ic to be sold or transferred reach agrecment in writiiig that the credit of wch ptrson z ~ is satisfactory to LenJer and tha~ the intete~~ pa~•able on the ~ums srrured b~~ this Atortgage chall_ be at such rate as 1_ender ' shall roquest. Tf Lende~ has waiveJ the opti~~n to accelerate pr~videJ in thi~ paraRraph 1~. ~nd if BorroN•er's successor in ~ interat hu executed a writlen assump~ion agrcemen~ arcep~ed in wriiing b}• Lender, ~ender sh.dl release Borrow•er from all obligations under this Mortgage and thc Notc. ~ if Lender exercises such option to accelerate. t.ender shall mail Borrower notice of acceleration in accordance with ~ puagraph 14 hereof. Such notice shall proviJe a peri~xl u( n~t less than 30 days from the date the natice is mailed within which Borrower may pay the sums declared due. If Rorruwer fails to pay such sumc prior t~ the expiration of such period. ~ Lender may, wi~hout further notice or demand on 8orrowr[. ~nvokz any remedies permiued hv paragraph 1R hereof. E NoH-UNIFORM COVEtv~rvTS. Borrower and l.ender (urthcr co~•cnant and agrce as follows: ~ ls. AceekMioa; Remedia.. Except as provided in para~raph 17 hereof, upoa Eorrower's breach of sny covtaaot or ~ a~teemeot of Eorrower iu tAis 11to~age. includin~ Ihe covcnants lo pay when due an~ sums secnrcd by tbk Mo~a`e, Leodcr prior to sccderalioa sball mafl notice to Borrower as prorided in para~;raph 14 hcreot specifyin~: (1) tbe bresch; (Z) tl~e actbn ~ to e~re wch ~each; (3) a date. not les+ than 30 da~•s from Ihe dste the notice ts maited to Borrower, by whkh socb breack ~rst be cwred; snd (4) tlwt failure to cure wch breuA oa or beforc the date speci~ed ia ihe notice msy tes~M M ! sccekrstfoo ot tLe sams secnred by th~ lfortga=e. foreclosere py judicial proceedin~ md sale of the hopert~. '!Le potice sbaq irrWer btorm dorrower ot the righ~ to reinstate afler accckration and tbe ri=hf to assert in t~t fortclosun rwt~ g ~t oow-existeace ot a detault or aoy other detense ot ~orro~+er to accelention and torcclosure. if tre bresc6 is ~ot csred oa - or before t6e dste speciried ia t6e noticc. l.ende~ at I.ewder's option may declare sp ot the sn~ sec~red by tYi~ Mo~qa~e to 6e ~ iv~tely dre aad paysbie witbo~t t~riber dem~ aad msy torecbse th[s Mort~e by judkial procee~. Leader duA ~ be eNber te co0ed i~ ssc~'roeecdia~ a~ espeases ot torectosare, b~cludiu~. bnt ~ot Wwhc~ to, reaweabk Mtor~ty's fea, ~ a~i ~Mt ioc~e¦tary e~We~ce, abarscls aa! tide nporls. ' i - l!. ~o~towa's ~i~M to Reiastate. Notwithitanding Len~ier's accelerotion of the sums xcurcd by this Mort=a~e, ~ ~ Borro+rer ~sll have the riaht to have any proccedings hegun by Lender to enforce this Mon~a~e discontinued at any time j ~ BQOK ~ P~GE c~O