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Home My WebLink About0978 . . ~ ~ . ~ . , . ) , . ! . _ , Lender's writtea a~raaaent or applicabk law. Bonower shall pay the amount ot dl mortsaje iasun~ce p~+emiums ia tl~e mannsr p~ovided unde~ paa~raph Z hereot. Any- amount~ disbursed . by Lender punuant to tha paag~aph 7. with ioterest thereon, shall become additional ~ndebtedness o[ Borrowe~ secured by this Moctts~e. U~less 8onower a~d Lende~ ap+ee to other terms ot payment. such amounts shall be payabk upo~ notice from Lender to Borrowe~ requestina payment thercot. and shail bear intercst trom the date of disburxment at the nte payabk from time to time on a~tatandins principal undar tha Note unku p~yn~eat oI interest at such ate would be cont~ary to applicable law, in which event such amounts shall bear interest at the hi~hest nte permisaibk under applicabk law. Nothing contained in this pangraph 7 shall Kquire Lender to incur +~ny expetae or take any action hercunder. a. laspectio~. Lender may make or cause to be made rcasonable entries upon and inspectioes ot the Propeety. provided that Lender shall give Bonower notice prior to any such inspection specifyins rcuona~k cause therefor rclated to I.ende~'s ~nterest in the Propeny. • 9. Cosdemaatbr. The proceedc of any award o~ claim for damaga, dircet or consequential. in connection with any condemnation or other taking of the Propeny, or part thereof, or for conveyance in lieu of condemnation, arc hereby assigned and shall be paid to Leoder. in ~he eveot of a total taking of the Property. the proceeds shall be applied to the sums securcd by this Mongs~e. N•ith the excess, if any, paid to Borrower. In the event of a parlial taking of the Property, unless Borrowe~ and Lender o~herwis~ agrce in writing. ~herc shall be applied to thr sums •securcd by this Mortgage such propohion of the proceeds as is equal to that proponion which the amount of the sums ucured by this Mongage immediately prior to the date ot ~aking 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 the Propeny is abandoned by Borrower. or if. after notice by Lender to Bonower that the.condemoor oRen to make an ~wa:~+ or uttle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice is mailed. Lender ic authorized to collect and apply ~he proceeds. at Leoder's option. either to restontion or npair of the Propeny or to the sums securcd by this Mortgage. Unlesc I.ender and Borrower otherwise agree in writinc. any such application of proceeds to principal shall not exte~d or poctpone the due date of the monthly installments ~eferrcd to in paragraphs 1 and 2 hertof or change the amount of such installments. 10. Borrower Not Rekased. Extension of the time for payment or modification of amortization of the sums secured h}• this Mortgage granted by i.ender to any cuccossor in interest of Borrower chall not opente to rcleax, in a~y manne~, rhe liabili~y of the original Borrower and Borrower e successorc in interest. Lender shall not be rcquired to commence ~r~.ceedings against such succecsor or refuce to extend time for payment or othervvise modify amortization of the sums se~~~red by thic Mongage by reason of any demand made by the original BoROwer and Borrowers successors i~ intercst. I1. Forbearance by I.eoder Not a Wsiver. Any forhearance hy I.ender in exercising any right or rcmedy htreunder, or ~.~herwisc aftorded hy applicahle law, shall no~ tx a waiver of or preclude the exercise of any such right or remedy. The procurement of insuraoce 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 indebtedneu cecurcd hy thi~ Mongage. . 12. Remedies Cumulati~e. All remedies provided in this Mortgage arc dis~inct and cumulative to any other right or remedy under this Mortgage or afiorded hy law or equity. and may be exercised concurre~tly, independently or successively. 13. Successors and Assigns Eound: loinl and Sereral I.iability; Captioas. The covenants and agreements herein contained shall hind, and the rights hereunder shall inore to. the respective succecsors and assigns of Lender a~d Borrower, t~~bject to the provisionc of paragraph 17 hereof. All covenants and agreementc of Borrower~hall be joint and- several. The captions and headings of the paragraphc of thic Mortgage are for convenience only and arc not to be used to ~nterpret or define the provisions hereof. - la. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to Brrrower provided for in this Mortgage shall be given by mailing cuch notice by certified mail addresxd to Borrower at cne Propeny Address or at cuch aher addrecc as Borrower may designate by notice to f.ender as provided h~rein, and ( hl an~• notice ~o Lender shall he given hy certified mail. retum receipt requested._ to I.ender s address stated herein or to «~ch ~~ther address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this ~tortgage shall be deemed to have been given to Borrower or I.ender when given in the manner designated herein. 1S. Unitorm MoriRage; CoverninR Law; Severability. This form of mongage combines uniform covenants for national I; use and na~-uniform covenants with limited variations by jurisdiction to constitute a uniform seciirity iostrument covering j real property. This Mortgage shall be governed hy the law of the jurisdiction in which the Property is located- In the ~ event that any provision or clause of this Mortgage or the Note conflicts N~ith applicable law. such conflict shall not afftct ~ ~~ther provisions of this Mongage or the Note which can be given efiect withaut the conflicting provision, and to this end the provisions of the Mortgage and the '`ote are declared to be severable. ' 16. eorrowe~'s Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time ~~f execution or after recordation hereof. i'7. Tnnsfer of the Property; Assumplion. if all ~r any part of Ihe Properry or an intercst therein is sotd or transfe~red by 8orrower without Lender's prior wri~ten consent. excfuding lal the creation oF a lien or encumbrance subordinate to ~hi~ Mortgage. (b) the creation of a purchase money cecurity interest for household appliances. (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an option to purchase: Lender may, at Lender c option. declare all the sums secured by this Mortgage to be ~mmediately due and payable. [.ender shall have waived such option te accelerate if, prior to the sale or transfer. Lender . and the perwn to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person i~ satisfactory to LenJer and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender ~ shall rcquest. If Lender has waived the option to acceler~te provided in this paragraph 17, and if Borcower's succasor in ~ ~n~erest hac executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all ~ obligations under this Mortgage and the Note. . If Lender exercixs such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice chall 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 Horrower, invoke any remedia permitted by paragraph 18 hereof. > ~ Non-UHiFOaM CovetveNTS. Borrower and Lender further covenant and agrce u follows: ~ 18. Accekntioa; Remedks. Except as provided in para~npA 17 hereof. upo~ sornower's brescl~ ot asy covesaat or ~ agreement of dorrower fp t~is Morf~e. lacbdi~ the covemnis to par wbss dne a~y soms stcored by t6M Mort~a~e, Le~der ~ Prior to sccckrstion aball nuil ootice to dorro~.er as provjded in ps~rspb 1~ bercof specitrla~: (1) tre bnae~; (2) t6e actioe ~ requtred to cure soch bresch; (3) a date. aot less thsn 30 dsys froe~ tbe date t6e aotlce b wailei to Dorrowtr. by wbk6 sue~ ~ breach mwt be cnred; aad (4) tbM failure to cure snch breach on or before the date qccYea b tre notke ~esl ra~lt b ~ accekatba ot tbe suss scc~red br tbis Mo~e. foreebwre by jndicW ~roceediw~ aad sak ot tbe hoperty. '~Le wotiet ~ sfnall further iafors~ ~wer ot tl~e ri~bt to reiostste ~ter sccekrstioa s~d t6e ri~6t to arert iw tlie torecbwre ~oeeeii~ the noo-existtace ot a dciault or asy ather detcase of dorrower to accekr~tioa ~d tonclwnrt. It tbe brese~ M~ot creed o~ or betore the date speciAed ia tre ootke, Leader st [.eader'~ opbs mar deehre ap ot tbe s~ws ste~~red by dds Mortta~e b be immedhtdy iue awi pysble wit~oW fnrtl~er de~ awd msy fonebu t6b Morlia~e rp jndkial'roteed~. Lee~e~ ~Mar be eotided to eoliect iw srcb ~roceedfu~ sM e:pe~sa ot torecbsYre. hclndio~, M~t soE liwited to, rearo~aMe dtoneys tees, aod cosfs ot doc~mestary e~idesce, sb~trscb ~i tWe repoefs. r 19. domuwer's RI~Yt to Rei~tate. Notwithstanding Lender s accekration of the sums secured by this Mort`aje. Borrower shall have the right to have any prceeedings begun by Lender to enforce this Mon~age discontinued at any tinte : g~~~ 435 Pa~~ ?7 _ _ .r~ ~ ~ ~.Y-" ~ >n-,~ s~' _ ~ - . . _ _ . _ . _ . . ~ _