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Home My WebLink About0956 _ _ - ~ - _ . _ _ . . . _ . _ _ ~ , ~ l.a~'s writlea a~reemsat or spplicabk law. Borw~w~e~ shall par the aawuM ot all aaortsap iowraaos pnaniuaAt ia tbt enaonar provided wider pu~apl~ 2 baeo[. My amoums disbursed bp i.eade~ purwaat to this Wn~raPh 7. ~vith interast thereoa. ~haU becortb dditional iadebtednea o[ Horwwer secured by this Mortsaje. Uoless Hortowe~ and I.e~der a~ree to oN~er ttma ot paymetk. wcb amounb ~all be psyabk upon notioe from Lcnde~ to Borcowe~ roquestins Qayment theroof. and shall baar interaR trom Me date of dhbunea~eat at the nte p~yaWe from time to time on ouata~ principal under the Note unless payaNnt ot intereu at:ucb ra~e would be contrary to applicabk law. in which event wch unouna ~+dl bear iatereW at the hi~st rale permiaibk ~ader applicabk law. Nothin~ oontained in this pantraph 7 shap require I~ender to incur any expems or taice any action her+eunder. i. i~scMo~. Lender may make or cau~ to be made ressonabk entries upon and inspxtions of tlie Propetty. pwrided that Lender shall ~iv~e Borrowa~ notice prior to aay wch inspection specityina reasonabk cause therefor rdated to La~dar's interat in the Property. 9. Cowie~do~.- The proceeds of any award or claim for damases, diroct or consequeatial. in connection ~vith any condemnation ot ottier taking of the Property, o~ pan thereof, or for conveyana in lieu of condemoation. ue hereby sss~aed and shall be paid to L.ender. Io the eveot of a total takina of the Property, the proceed: shall be applicd to the suma secured by this Mo~qa~e. with the excess, if any. paid to Borrower. In the event of a putial takina of the Property. unles~ Borrower and Lender otherwise agree in writina, there shall be applied to the swns secured by this Mortgase such prnportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediatdy prior to the date of taking bears to the fair market value of the Property immediatety prior to the date of taking, with the balance of the proceeds paid to Borrower. . . If thc Property is abandoned by Borrower, or if, aher notice by i.ender to Borrowe~ that the oondeannor olfets to maYe an award or xttk a claim for damages, Borrower fails to rapond to Lender within 30 days aher the date such notice is maikd. Lender is authorized to colkct and apply the proceeds. at Lender's option, either tn restoration or repair of tLe Property or to the sums secured by this Mort~tage. Unlas Lender and Borrower otherwise sgroe in writing, any such application of procetds to principal shall not eactptd or postpons the dtx date of the monthly installments nferred to in pangraphs 1 and 2 hereof or change the amount of ~ such installments. 10. Dorrower NM Releasea. Factension of the time for payment or modi~cation of amortization of the sums secured - by this Mortgage granted by Lender to any successor in interest of Boirower shall not operate to rekase. in any manner. the liability of the original Borrower and Borrower's succasors in interat. Lender shall not be required to canmenoe proceedings against such 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 by the original Borrower and Borrower'a saccessors in interat. tl. Forbean~ce by i.eader Not a Wsiver. Any fotbearance by Lender in execcising any right or remedy hereunder, or .otherwise afforded by applicable iaw~ shall not be a waiver of or pnclude the eaercise of any such riEht or nmedy. The procurcment of insunnce or the payment of taxes or other liens or charges by Lender shall not be a waiver of I.ender's right to accelerate the maturity of the indebtednas secured hy this Mortgage. IZ. Remcdks C~olati~a Ali remedies provided in this Mortgage are distinct and cumulative to any other right or rcmedy under this Mortgage or af[orded by law or equity, and may be exercised concurn~tly. independently or successively. _ 13. Socces~as aod Asa~~s ~ouad; Jdat ~md Seved i.iab~lr; Captions. The covenants ar~d agraments herein contained shall bind. and thc rights hercunder shall inure to, the respoctive successors and assigns of Lender and Borc~ower. subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Borrower shall be jant and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be usod to interpret or define the provisions hereof. 1/. Notice. Except for any notice requircd under applicable law to be given in another mannor. any notice to Borrower provided for in this Mortgage shall be given by mailing such noticx by certitied mail addressed to Bonower at the Property Address or at such other address u Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail, retum roceipt requested, to Lender's addrcss stated herein or to such other address as Lender may designate by notice to Borrower as provided hercin. Any notice pr+ovided for in this Mortgage shall be dcemed to have been given to Borrower or Lender when given in the manner designattd herein. 1S. Uniform Mort~~e; Go~ernia~ I.aw; Severability. This form of mortgage combina uniform covenants for national . use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform socurity instrument oovering real property. This Morigage shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Morigage or the Note conflicts with applicabk law, such conflict 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 Mortgage and the Note are declared to be severable. ~ 16. Dorrower'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. Transfer oE t~e Property; Assvmption. If all or any part of the Property or an interest thercin_is sold or transferred by Borrower without L.ender's prior written consent, excluding (al the creation of a lien or encumbrana subordinate to this Mortgage, (b) the creation of a purchase money security interest for houuhold appliances, (c) a tnnsfer by devise, ! descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of throe years or 1as . ~ not containing an option to purchase, Lender may, at Lender s option, declare all the sums securtd by this Mortgsge 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 sold or transferred reach agreement in writing that thc credit of such person ~ is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate u 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 I.ender, L.ender shall release Borrower from a11 obligations under this Mortgage and the Note. 1f Leoder exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 heroof. Such notice shall provide a period 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 the expiration of such period, Lender may, without further notice or demand on-Borrower, invoke any remedies permitted by paragraph 18 hercof. ~ Nox-UtvtFORM CovExerrrs. Borrower and Lender further covenant and agree u follows: 18. Acceleratjon; Remedks. Ezcept a~ prorided ia p~ra`rapb 17 bereof, ~poo Dorrower's bresca ot a~y co~eaet or ~ a`reewest ot Borrowes i~ thts Morl~ade, iecludia` tl~e covea~Ms to pay whee dae aay sams secared by tlds Mort~a~e, I.eader ~ prbr to sccekntbn sball mail aofke to Sorrower as provided in ~nph 116ereot ~pcci[~: (1) ttie breacti; (2) tbe sctbs reqotred to cm+e wcb breac6; a dae. aot las t6an 30 days from t6e date tbe ao8ce M m~ed to lorrower, b~? wrk~ srei : breac~ nait be cued: aod (4) thst taflare to cnre wc6 breach on or betore t6e date specl6ed ~ tre ~ofke v~ e~a~lt ~ sccderatios of ttie so~ aecered by trk Mortsa`e, foreclosare by jodkial proceedlo~ a~d de ot tre h~ope~?. 'ltie ~ofke ~ s~ forWer 1¦to~ Eorrower oE tbe ri~rt to ~i~hh dter accekrstb~ aad tbe ri~t b awert i~ ttie toeeclonrs poeee~ ~ t~e ooMexWence ot a dcEadt or a0y otber detease of dorrower to accekrMlo~ asd forecloau~e. It t~e bwc~ i~ ~ot ea+ta o~ or betore tbe d~e ~peclSed io tbe eotke, Leader at I.ender's optbn may declare d ot tbe sass sec~roi by t~it Morlsa~e tu be imaedWdy d~e aed paya6ie wit~oat tart6er deeu~d aod a~sy forecbse tYis iViorha~e ~ jrdkW lroceedl~. I.e~er sY~ be eotHkd to collect b s~ci ~roceedio~ ss espea~ea ot toreclosrre. ischidio=, b~t aot WMitei to, rea~oMble aftoe~e~'s tees, ~ and ~osb of doca~ e~ldeace, ab~teacb aod title reporb. 1!. Dorruwer's Rl~t to Reirtde. Notwithstanding Len~Ps accekration of the sums secured by this Mortsa~e. , Borrower sha116ave the rig6t to have any procadings begun by Lender to enforoe this Mort~a~e discondnuod at au~? time a~ ~19 r~ 956 ~ ~ - - ~