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Home My WebLink About0941 . . • • ~ ~ . I.eeider's writtea a~reeaaau or applicaele law. Botrower shall pay the amount ot all mortsase inturance p~niuau in tl~e maaaer provided unde~ pusanph 2 hereot. . 1. ~'r ~J bi('•~~r~. Aey amounts disbursed by l.e~der punuant to tha parat~aph 7, with interest tlrA+~ aau ~tional indebtedneu o[ Borrower secured by this Mon~age. Uoless Borrowe~ and l.ende~ a~ree to other terms ot psymeM. such amounts shall be payabk upa? ~c+~ice f~om Leode~ to Ba~rower rcquesting payment thereof, and shall bear i~tercst from the ~ date of disbunement at the rate payabk t~om time to time oo austandint principal unde~ the Nbta uhku ~payment ot intercst st such nte would be conuary to applicabk law, in which event such amourtts shall bear interest at the hishest rate permiuibk under applicabk law. Nathing containtd in this pa~agnph ? shall requir+e Lender to iocur any expense or take any action hereunder. - , A. I~ectisw: Lender may make or cauu to be made rcasonable eotries upon and inspections of the Propeny, provided that Lender shal! give Borrower notice.prior to any s~~ch inspection specifying rcasonable cause thercfor rclated to Lender's ! interest in the Pooperty. ' - 9. Coaaea~sMo~. The prceeedc of any award or claim fpr damages, diroct or consequential, in connection with any condemnation or other taking of the Propeny, or pa.n thercof, or for conveyance in lieu of condemnation, arc hereby assigned and shall be paid to Lender. in the event of a total taking of the Property, the proceeds shall be applied to the sums securcd by this Mortgage, with the excess, if any, paid to Bon~wer. in the event of a partial taking of the Property, unless Borrowe~ and Lender f otherwise 3groe in writing. tl~erc shall be applied to the sums securcd by this Mortgage such pmportion of the procceds as is equal to that praportion which the amount of .the sums sccured by this ~Mortgage immediately prior to the date of ; 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 tht Property is abandoned bp Barrower, or if. after notice by Lender to Bomower that the condemnor offers to make ~ an award ar uttle a claim for damages. Bc~rrower fails to respo~d to l_ender within 30 days after the date such notice is i mailed, L.ender is authoriud to collect and apply the proceeds, at Lender s option. either to restoration or repair of the ~ Propeny or to the sums secured by this MortRage. y Unless Lendrr and Borrower otherwise agree in w•riting, any such application of proceeds to principal shall not extend ~ or postpone the due datt af the monthly installments referred to in paragraphs 1 and 2 hereof or cha~ge the amount of. ~ such installments. ~ 10. Bonor?er Not Rekased. Extension of the time far payment or modification of amortization of the sums secured by this MortRage granted by Lender to any ~uccessar in interect of Borcower shall not operate to release, in any manner, the liability of the original Borrower and Bc•rrower e successorc in interest. Lender shall not be req~~ired to commence proceedings against such succcssor or refuse to extend time for payment or othervvise modify amortization of the sums secured by Ihis Mortgage by reason of any demand made by the orieinal Borrower a~d Borrower s successors in interest. 11. Forbearaace ~y Leader Not a R+aiver. Any forhearance by i.cnder in exercising any right or remedy hereunder, or oiherwise afforded by applicable law, shall not be a waiver of or preclude the ezercise of any such right or remody. The procurement of insurance or the payment of t~xes or other liens or charges by I.ender shall not be a waiver of Lender s ' right to accelerate the maturity of the indebtedness secured hy thic Mortgage: ' 12. Remediss Cnmulati~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or ~ rcmedy under this Mortgage or afforded hy law or equity, ard may he exercised concurrently, independently or successively. 13. Snccessors and Assigas Bound: loint s~nd. Several i.iability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective succecsors and assigns of Lender and Borrower, subjcet to the provisions of paragraph 17 hereof. • All covenants and agrcements of Borrower shall be joint and several. 71~e captions and headings of the paragraphc of this Mongage are for convenience only and are not to be uxd to interpret or define the provisions hereof. . I4. Notice. Except for any notice required under applicable lavv 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 mail addresced to Boirower at the Property Address or at such other addresc as Borrower may designate by notice to i_ender as provided herein, and ~ (b) a~y notice to Lender shall be given by certified mail, return receipt requested. to i_enders address stated herein or to such other address as Lender may designate by notice ~o Borrower as provided herein. Any notice provided for in this ; Morigage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. ' IS. Uniform Mo~igage; Governin~ Iaw: Severability. This form of mortgage combines uniform covenants for national uu and non-uniform covenants with limited variations hy jurisdiction to constitute a uniform security instrument covering real property. This Mortgage shall be governed by the law of the ;urisdiction in which the Property is located. In the eveot that any provision or clause of this Mongage or the Note conflicts with applicable law, such conflict shall not affect ` other provisions of this Mortgage or the Notr which can be given efiect without the conflicting provision, and to this ~ end the provisions of ~he Mortgage and the Note are dcclared to he severable_ a ~ 16. Borr+o~ver's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time - of execution or after recordation hereof_ ! 17. Traosfer of tbe Pmperty; Assumption. If all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creation of a purchase money security interest for household app~iances, (c) a transfer by devise, i descent or by operation of lav? upon the death of a joint tenant ar (d1 the grant of any leasehold interest of three years or less ' not containing an option_to purchase. [_ender may, at Lender's option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer, Lender ~ ~ and the person to whom the Property is to be solJ or transferred reach agreement in writing that the credit of such person j is satisfactory to I.ender and that the 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 Borrower's successor in ; interat has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all ~ ~ obligations under this Mortgage and the Note_ ~ j If Lender exercises such option to accelerate, [.ender shall mail Borrower notice of acceleration in accordance with ~ ~ paragraph 14 hereof. Such notice shall provide a perioci of not less t}pn ?0 days from the date ihe notice is mailed within which Borrower may pay the sums declared due. If Borrovver fails to pay such sums prior to the expiration of s~ch period, ~ Lender may, without further notice or demand on Borrower, invoke'any remedies perroitted by paragraph 18 hereof. I ; NoH-UNtFORwt CovEtveHTS. Borrower and Lendor further covenant and agree as follows: 18. Aceeleratio~;.Remedies. E:cep as provided in para6nph 1'f hereof. upoa Borrowt~s brescb of any coveoaat or 3 a6reemeat ot domow~r ia tbts Mortgs6e, inclwlin~ tbe coveoants to pay whea dne any sums secured by this Mort=sae. I.ender prior to aceeieratio~ s6aD enail notice to Bomower zs provided ia para~rap6 14 hereof spccifyiu~: (1) tbe bresch: (2) the sction ; rcq~ired to c~re soc~ breacb; (3) s date, sM las than 30 days from the date t6e aotice is mailed to Borrower, by w6ic6 soc6 t brach m~st be c~red; aod (1) trst f~are to core such bresc6 oa or before tbe date speci6ed i~ t~e aotiee may r~estlt ia G scedee~o~ oE tie sems second by thjs Mort=a~e. foreclosore bp ladicW Proceedioa a~d de ot tbe Prupe~. 'ltie aotke ! siaN fortl~er iwfoan Dorr~ower d t6e ri~M to rcisstste dter scceleratio~ aad ibe ri~bt to arert iu tl~e forecloa~re proceedi~ a tre eo~esWe~ce af a defark or asy M6er defense oE SoROwer to scceleratioe aad foreclosore. It the 6reseb h nM esred os i or bdon tl~e d~e ~peci6ed iw t~e notice. Lcsder N Le~de~'s optios a~ay declare sll of the soas sec~nd by t6is Morqa~e b be iswe~dy dre a~d pya6k wkbort fortber demaad aed w~ay forecbse tbis Morl~a~e by jrdicid proeee~. Le~er ~iaY ~ be estldai to corect i~ s~ prnceediwj d espeetcs of foreciosnre, Incfrdia~, brt ~ot limited to, rcaso~able attorwey's fees, ? ` a~d co~b ot aoe~wewtary e~ide~ee, abstracts ana WM rep~ls. i ~ I!. /an~owu's Ri~t to Reio~tNe. Notwithstanding Lender s acakration of the sums socured by this Mortaage. ~ Borroaer shall have the rigbt to have any procoedings begun by Lender to enforce this Mortgage discontinued at any time ~ ~ ~ ~ _ ~66971 ?r_ 7! ` ~ 941 ~ ~ ' . . . : ~ . ~ P _ • - •v~~ss--- - . . x . ,~,s~ ..,i; ` e ~ 7-~:ia ' ~ ~