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Home My WebLink About0993 ~ , . ~ 1' ~t~ ~ ~ I.endcr's wntten agrcement or appGcabk law•. Borrowtr shall pay tt?e amount of ~II morigage insunnce pcemiums in the mann~r pruvided under paragraph 2 heroof. Any amo?ints di~burxd by I_en~~er purcuant to this paragraph 7, with u~tercst thercon, shall become additional indebtedness of Borrower securcd by Ihis Mortgage. Unk~s Borrowcr and LenJer agrce to other terms of payment, such amounts shall be payable upon notice from t.ender t~~ Bormwrr reyuesting payment thereof. and shall bear interest from the date of disbursement at the rate rayabie from time to time on outstanding principal under the Note unless paymtnt of interest at such rate would be contrary to applicable law, in which event such amounts shall bear intercst at .the highest rate p~rmissible under applicable law. Nothing contained in this paragraph 7 shall requirc I.ender to incur any expense or take any action hereunder. 8• Inspectioa. I.ender may make or cause to be made reaso~able rntri~s upon ~nd inspections of the Property, provided that Lender shall give Borrower notire prior to any such inspection specifying reasonabl~ ra?ise therefor related to i.endti s interest in the Property. 9. Condemnatbn. The proceedc of any aw•ard or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are txreby assigned and shall be paid to L.ender. in the event of a total taking of the Property, the proceeds shall be applied to the sums se~:ured by this Mortgage. with the ercess, if any, paid to Borrower. In the cvent of a partial taking of the Property, unless Borrower and L.ender otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proc~eds as is equal to that proportion which the amount of the sum~ se:ured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Pmpert~• immediately prior to the date of taking, witfi the balance of tht procetds paid to Borrower. If the Property is abandoned b}• Borrower, or if, after notice by [.ender t~ Borrower that the condemnor ofiers to make an award or settle a claim for damages, Borrower fails to respond ta i.ender wi~hin 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceeds. at I_ender's option, eithtr to restoration or npait of the Property or to the sums secured by this Mort¢age. Unless l.ender and Borrower otherwise agree in w•riting, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such in;tallments. l0. Borro~er Not Rekased. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any success.,r in interest of Borrower sfiall not operate to release, in any manner, the liabitity of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against sueh successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made b}~ the ori¢inal Bormwer and Borrower s successors in interest. 11. Forbearance by Lender 1~`ot a Waiver. An~• forbearance b~• I.ender in eterc~sing any right or remedy.hereimder, o: otherwise affiorded by applicable law, shall not he ~ waiver of or preclude the exercise of any such right or remedy. ' The procurement of ins~rance or the payment of taxes or other liens or charges by I.ender shall not be a waiver of Lender's right to accelerate the maturity of the indebtednes~ secured hy thic Mongage. 12. Remedies Cumulative. All remedies pro~~ided in this 1Nortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded b}• law• or equity, and ma}~ be exercised cnncurrcnUy, independently or si~ccessively. ~ 13. Successors and Assi~ns Bound; Joint and Se~eral I.iability; Captions. The covenants and agreements herein ; contained shall bind, and the ri~hts hereunder shall inure to. the respective succecsors and ascigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All co~•enants and agreement~ of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to he osed to interpret or define the provisions hereof_ ` I4. Notiee. Except for any notice required under applicable law~ t~. be given in another manner, (a) any noNce to f Borrower provided for in this Mortgaee shall be given b~~ n~ailing such nohce by certified mail addres<ed to Borrower at the Property Address or at such other addres~ as Borr~~wer ma~~ designate b}• notice to 1_ender as provided herein, and ~ (b) any notice to Lender shall tx; given by certified mail, return receipt requested, to Lender's address stated herein or to f such other address as Lender ma}• designate b} notice t~~ Bormwer as pro~~ided herein. Any notice provided for in this ~ Mertgage shall be deemed to have been given to Borrow~er or t.ender w~hen given in the manner designated herein. ~ 1S. Uniform Mortg~e~ Governin~ Law; Se.-erl6ilit~•. This form o~ mortgage combines uniform covenants for national E E use and nan-uniform covenants with limited variations M• ji~risdiction to constitute a unifo:m security instrument covering E real property. This Mortgage shall be governed hp the law~ of the jurisdiction in which the Property is located. In the E event that any provision or clause of this Mortgage or rhe Note conflicts w~ith applicable law, such confliet shall not affect ; other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to this ~ end the provisions of the Mortgagc and the Note are dcclared t~ be severable_ ~ l6. Borrower's Copy. Borrower shall be f~irnished a conformed copy of thc Note and of this Mortgage at the time ~ of execution or after recordation hereof. t l7. Transfer of the Property; Assumption. If all ~r an} part of the Property or an interest therein is sold or transferred i by Borrower without Lender's prior wr.tten consent. excluding (al the creation of. a lien or encumbrance subordinate to ~ this Morigage, (b) the creation of a purchase money seeurity interest for household appliances. (c) a transfer by devise, f descent or by operation of laN upon the death of a joint tenant or (d? the grant of any leasehotd interest of three years or less ~ not containing an aption to purchase, I_ender may, at Lender'~ ~ption, declare all the sums secured by this Mortgage to be immediately due and pa~able. Lender shall have waived such option ro accelerate if, prior to the sale or transf~r, Lender ~ and the person to whom the Property is to be solJ or transferred reach agreement in writing that the credit of such person ~ is satisfactary to Lender and that the interest pay~able on the sums secured by this Mor~gage shall be at such rate as Lender ; shall reyuest. lf Lender has waived the option ta accelerate provided in this paragraph 17, an~ if Borrower's successor in interestfiac executed a written assumption agreement accepted in ariting by Lender. Lender shall release ~orrower from all obligations under this Mortgage and the Note. Tf I_ender exercises such option to accelerate. Len~3cr Shall mail Borrower notice of acceleration in accordance w~ith paragraph 14 hereof. Such notice shall provide a perioct of not !ess than 30 da}~s from the date the notice is mailed within ~ K~hich Borre~.er may pa}~ the sums de~Iared due. If Borrower fails to pa}• such sums prior to the expiration ~f such period, ` Lender ma}•, without further notice or demand on k3orroHCr. invc.ke an~ remedies permitred bp paragraph 1R hereof. NON-JNIFORM CGVENAN7S. BO«OWC~ 3t1(~ I_Cflde: further covenant and agree as follow•s: 18. Acceleratioo; Remedies. Except as provided in paraRraph 17 hereof, upon Borrowe~'s breach of any covenant or sgreement of Borrower in tbis Mortgage. including the covenanfs to pay when due any sums secured by this Mortgage, I.ender prior to accderation s6a11 maii notice to Borrower as provided in paragraph 14 hercof specifying: (1) the breacb; (2) tlx action I requircd to cure such brcach; (3) a datt. not less t6an 30 days from the date the notice i4 msWcd to 8ormwer. by ~vhich such breach must be curcd; and (4) that failurc to cure such breach on or before the date specifitd in the notke may result in accekration of the su~ securcd by this Mortgage, foreclosure by judicial proceeding and ssle of the Property. 'Il~e nottce shall further inform Borrower of the right to rei~tate after acceleration and the right to assert in the forecMeure proceediag the non-existence of a debnk or any other defsnse of Borrower to accelerotion and foreclosure. If the bresch LS oot enred on or befure the date specified in t6e notice. LeRder at Leuder's option may declare aD of the sams securcd by this Mortga=e to be immediatcly dut aod payabk witFwut further demand and may foreclose th[s Mortga~e by judicla! proceedjog. Lender shall be eolided to coUect in anch proceediag all eYpeoses of foreclosurc. inciuding, buf not limited fo, reasoaabk ittorney'e fets, and cosis of docnmentary evideoce, abstracts and titk reports. ' 19. Borrower's Rl~bt to Refestate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage. Borrower shall have tht right to fiave an}~ proceedings hegun hy 1_ender to enforce this Mortgage discontinued at any time ~l1~7K ~ P~G~ ~ - _ _ . _ 1~:.^.P s'° ~ '"f ~ } - ~