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Home My WebLink About0926 • ~ _ I.eader': writtea a`roemetst or applic~ble law. Borrower afidf puy the amount ot a11 mot1~ ~suraace ~d~u in the mu~aer pro~ided under pua`nph 2 hereof. Any unounb disbur~d by L.ender pursuant to thit pan=nph 7. with iaterest thereoo. ahall baome additional indebtedness of Borrower secur+ed by this Mortgage. Unkss Borrower and Lender agrec to other terana of payme~t, such a~t~ounts shdl be payabk upot+ notice from I.~ndsr to Borrowe~ requesting payment thereoi, and shall bear intercst fmtn tAe - date of dhbursement ~t the rate payabk from time to time o~ outstanding pti~cipal under the Note unl~ss p~ymeat o[ interat at ~uch rate would be contrary to applicabk law, in which avent such amounb shall bar interest at the hi~l~at rate permissibk under applicabk lrw. Nothing containecl in this paragraph 7 ahall requira Lender to incur aay aapema or take . a~y actioa hereuadec. ~ a. i~peclio~. Lende~ may make or cause to be made reason~ble entries upon and inspectio~s of the P~opecty. provided thAt Lender shafl give Borrower notice prior to any such inspection specifying rcaso~abb cause therefor nlated to Le~der's int~rest in the Property. 9. Coederaaatba. 'I1x procceds of any award os elaim for damages, direct or consequential. in connection witfi any condem~atio~s or other taking of the Property. or part thercoE. or for conveyance in lieu of condemnation. are hereby assigned a~d ahall be paid to l.ende~. • ~ In t1x event of a total taking of the Property, the proceeda shall be applied to tlie sums secured by this Mortgage, with the excesa, if any, paid to Borrowe~. I~ the event of a pastial taking of the Property. unless Borrower and Lenckr otherwise agroe in writing, there shall be applied to the sums secured by this Movtgage such proportion of the proaeds as is equal to that propoRion which the amount of the sums secured by this Mortgage immediately prior to the date of talcing bears to the tair market vslw of the Property immediatety prior to tht date ot taking, with ihe balar~ce of the pmceeds paid to Hornower. If the Property is abxndoned by Borrower, or if, after notice by I.ender to Borrower that the oondemnor o}fers to make an award or settk a claim for damages. Borrower fails to respond to i.ender within 30 daya after'the date such notice is mailed. I.ender is autlwrized to solkct and apply the pmce~ds. at Lenckr's option. either to rsstoration or npair of the Propeny or to the sums secured by this Mortitage. Unlas Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date ot tha monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. 10. Dorrower Not Reltased. Fxtension of the time for payment or modiftcation of amortiution of the sums zecuc~ed by this Mo~tgage granted by Lender to any s~ocessor in interest of Bomower shall ~ot opente to relesse, in any manner. the liability of tfie original BoROwer and Bo`rower's successors in interest. Lender shall not be requircd to commenve proceedings against such successor or refuse to exte~d time for paymont or othenrise modify amortiution of the suma secured by this Mortgage by resson of any demand made by the original Bomower and Borrower's successors in Interest. 11. Forbeuasce by Lraier NW a Waiver. Any farbearance by Lender in exercising any right or remedy herounder, o: otherwise afforded by applicabk law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured hy this Mortgage. I2. Remedies Camnlathe. All remedies provided in this Mortgage are distinct and cumulative to any other right or - oemedy under this Mortgage or at~orded by law or equity, and may be exercised concurne~tly, independently or successively. 13. Soccessors and A~as Bound; Jotat and Sersrd [.[~bi~ty; Csptions. The covenants and agreements herain contained shall bind. and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borcower shall be joint .and several. '[~e captions and headings of the paragrapfis of this Mortgage are for convenience only and are not to be used to interpret or define the provisions hereof. l4. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to $orrower providcd for in this Mottgage shall be given by mailing such notice by certified mail addressed to Borrower at the Propeny Address or at such other address as Borrower may designate by notice to Y..ender as pmvided herein, and (b) any notice to Lender shalt be given by certified mail; retum receiQt requested. to Lender's address stated herein or to soch other addras as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this ' Mortgage shal) be deemed to have been given to Borrower or Lender when given in the man~r designatod herein. ~ 1S. Uaiforw Mu~tga6e; Goven~io~ I~w: Sercrab0ity. This fonn of mortgage combines uniform rnvenants for natianal ; use and non-uniform covenartts with limited variations by jurisdiction to constitute a unifotm security instrument rnvering I real properry. 'i~is Mortgage shall be governed by the iaw of the jurisdiction in which the Property is lceated. In the ; event that any provision or clause of this Mortgage or the Note conflicts with applicable 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. i 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time ( of ex ution or after recordation htreof. ~ Transfcr of tLe Property; Assnmption. If all or any pan of the Prope~ty or an interest therein is sold or transfened ~ by Borrower without Lender's prior written consent, excluding (a) t~e creation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise. [ descent or hy operation of law upon the death of a joint tenant or (d) the grant of any leasehold interat of three yesrs or tess ! not containing an option to purchase. Lender may, at Lender's option. declare all the sums secured by tfiis Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer, I,ender • and the person to whom the Property is to be sold or transferred reach agrcement in writing that the credit of sach petson is satisfactory to Lender and that the interest payable on tfie sums secured by this Morigage shall be at such rate as Lender shall rcquest. Tf Lender has waived the option to accelerate provided in this paragraph 17, and if Bottowes's sucxessor in ~ interat has executed a written assumption agreement accepted in writing by I.ender, Lender shall release Borrower from all ; obligations under this Mortgage and the Nota ~ If Lender esercises sucfi option to accelerate. Lender shall mail Borrower notice of accekration in accoc+dance with ~ pazagraph 14 hereof. Such notice shall provide a period of not leu than 30 days from the date the notice is ma~ed 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 hereof. ~ Notv-UNtFOaM Covexerrrs. Borrower and Lender further covenant and agree as follows: - ~ ~ 18. AccelerMio~; Remedies. Bscept as pro~Wed ie pan~npii 17 bereot. olor lorrower's breaci of asy co~esa~t ot ~ a;reem~t of Dorrower fa ti~is Mort~a`e, ~ua We co~eaads to p~y whss d~e amy s~ne secars~ by this Morl~a~e, I.e~ier prbr to accderaioa s~aH rt~i1 ootke b dorrower as provided i~ par~ 14 bercot spec~: i1) ti~e be~e~cL: t~ ttie ~ rcqdned to cers wde braeb; (3) a d~e, ~ot las t6aA 36 dars fro~ tbe date We ~otke r~ bo ~or~+owa. 4~r s?ricY wel~ breac~ eunt be c~rcd; a¦a tl~at faYare to cm~e aoci brescM o~ or betore ti~ date tpedBei i~ tMe rotlce sq ra~k ~ ' sccdertlioa d tk wr ~eca~ed by ttih Mort~e, faeclossrr bp jadicial lrocetdie~ a~ sWe of t6e lro~e~. 'ltie iofke sha~ fmt6er isform Eoreowes ot t6e ri~Mt to relastate after secdera~ioe ssd /1~e ti~Yt tar are*t i~ tie fot~aloare ~e~ooeeii~ ttie oos-exietesce d a aetadt or aey ot~er defewse oi Eorrower. to accderdioe s~ toraiowre. tt Wt bewcl~ is oot cse+ed a~ or 6etore tbe ds~ tpeeWei m tk ~otice, I.e~der at La~der's optb~ ~ decLre aY oE tbe sran sectra~ by tris Mori~a~e b be im~ d~e a~ pyabk wili~oot tatLer dea~ aed wp~ foreclose thir Morl~a~e b~ M~L. I.esier ~a1 ; be eatide8 to co~cd b a~ ~e+oceedi~ a~ e:pes~a a~ toreclos~re. ~ci~, brt ~ot iisi~d rearopWe dtonr~'s ha. ~ aod coMs ot doc~ry e~ide~ce. a6stracb aoi ~le iepods. ~ 19. Dorrowa's Ri~M to R~drtste. Notwithstsnding Lende~s acoekration of the swns •secured by this Mortgaae, Borrowar ahail have tha right to have any proveedings begun by Lender to enforoe this Mortgage di:continued at sDy dme g~ 43i ~a~ 924 . ~ - - . . _ . ~