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Home My WebLink About0980 • ? ~ ~ . 1~. Notica Except for any notia required under applicabk law to be give~ in anottxr manner, (a) any not~cc to $orro~r ~ provided for in this Mongage shall be givcn by delivrring it or by mailing ~uch not~ce by cenified mai! addres.ud to Borrow~er at the s Propert~• Address or at such othe~ address as Borrower may designate by notice to l.ender as provided hertin, and (b) any noticr ' to L.tnder shall bt giv~en by ccrtified mail to l.ender~ address slated hercin or to such other address a, l.ender may designate by notice to Borrow~er as providtd herein. Any notice provided far in this Moctgage shall be dcemed to have been gi~en to k3orrowrr ~ or Lender when given 'in the manner dcsig~ated hrrcin. l3. Governin` I,aw; Seven~biliiy. The state and local laws applicable to this Mongage shall be the law5 uf thc jurisdiction in ~ which the Property is locattd. The foregoing sent-~re shall not limit the apptic:shility of Federal law tu this Mongagt. In the event ~ that any provision or clause of this Mortgage or the Note contl~ets w ith applicable i:,w, such cunilict shall not affect other provisions of this Mortgage or the Note which can be given rffect wittwut the contlicting provision, and to this end the provis~ons ol this I~lortgage and the Note are ~kclared to be se~erable. As usal herein, rnsts", 'lexpences" and "attorne~~' fees" include all sums to the extent not prohibited by applicabk law or limited here~n. 11. Borrower~ Copy. Borrower shall be furnished a conformed copv of the Note and uf this MortRalte at the time of executian or a[ter recordation hereof. - 15. Rehabilitation Loan A~reetnetti. Borrower shall fulfill all of Borrowcr's obligations under any home rehabilitation, i~~provement, repair, or other loan agreement which Borrower enters into with Lender. l.ender, at Lendcr's option, may reyuire Borrower to execute and deliver to Lender, in a form acceptabk to Lender, an assignment uf any rights, claims or defenses which 8orrower may have against parties who supply labor, materials or servias in connection with improvements made to the Propert~•. i 16. Tnr~sfer ot the Propert~; Assumption. If all or any part of the Propeny ur an interest theroin is sold or transferred b•,• Borrowrr without Lender~ prior written conse~t, excluding (a) the creation of a lien or encumbrance subordinate to this Sccurity ~ I nstrument which dcxs not relate to a transfer of rights of oocupancy in the property, (b) the creation of a purchase money security intercst for household appliances, (c) a trans(er by devise, descent ~x by aperation of law upun the death of a joint tenant or (d) the grant of any leasehold interest of three yeacs or less not containing an ~ption to purchase, Lencler may, at Lender~ option, declare all the suma secured by this Security Instrument to be immediately due and payable. If Len~?:r exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 12 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailyd within which Borrowrr may pay the sums declarea due. If Borrower fails to pay such sums prior to the expiration of such period. Lender may, without further notice or demand on Borrower, irnoke any remedies permitted by paragraph 17 hereof. i Lender may consent to a sale or transfer if: ( I) Borrowrt causes tobe submitted to L.ender information reyuired by l.ender to t e~ aluate the transferee as if a new loan were being made to the transfe~,~e; (2) L.ender reasonably determines that Lender~s sec~~nty ~ wili not be impaired and that the risk of a breach of any cuv~enant or agreement in this Security Instrument is acceptable; (3) ~ : interest will be payab{e on the sums secured by this Security lnstrument at a rate acceptable to Lender; (4) changes in the terms of $ the Note and this Security Instrument rryuired by I.ender are made, including, for example, periodic adjustment in the interest ~ rate, a different final payment date for the loan, and addition of unpaid interest to principal; and (5) the transt~ree sigm an ~ assumption agreement that is acxeptable to [.~nder and that obligates the trans[eree to keep all the promises and agreements made in the Note and ~n in~s Secunty Instrument, as modiGed if required by L,endec To the extent permitted 'o~• applicable iaw•, L.ender also may charge a reasonable fee as a condition to Lender~ consent to any sale or transfe:. Borrower will continue to be obligated under the Note and this Security Instrument urtless Ler.der releases Borrowrr m writing. NOti-U \ I FOR M COY E~ ANTS. Borrower and L.ender further covenant and agree as follows: 17. Accekration; Remedies. The tolloK~ing shall be er~ents of default ("Ev~ents of Default'~ hereunder and under the Note: (a) the failure to make when due any installment or other payment due under the Note or under this Mortgage; (b) the failure of Borrow~er to perform any cov~enant or agreement of Borrower in the Note or under thi: Mortgage: (c) any representatiun or } warranty made by Borrower herein or in thr Note proves to have been incorrect in any niaterial respect when made; (J j the ins~l~^ency of Borrower, or the application for the appointment of a recei~~er for Borrower or the filing of a petitiun under any pro~•isions of the Bankruptcy Code by or against Borrower or any assignment for the benefit of creditors b~~ or against Borrow~er, or (e) a judgment or judgments in excess of the sum of S I,000 in the aggregate shall be rendered against Borrow+er (or am• person cumprising Borrower?, and an}• such judgmem shall remain unsatisfied for any period of 30 consecuti~~e da~•s wrthout a sta} u: execution. Upon the oceurrence of one or more of the E~~ents o( Iktault, Lender ma}~, at its option, by written notice to k3urrov~~er a.~ ma~ ~ ' tx reyuired by applicable law, deciare the entire balance on the Note to be then immediately due and pa~able, in which e~e~~~ the ' entire balar.ce due on the Note, including accrued interest thereon. shall be immediatcly due and payable uithnut pre~entment, ~ I demand or protest, or notice of such presentment, ciemand or protest. all of which are hereb~• ~~ai•.~ed, dnd may im~~~ke the pnw~er of ; sale and any other remedies permitted by applicable law. lxnder shall be entitled to collect all reasonable cost~ ~,nd expen~es o incurred in pursuing the rerrr~edies pro~ ided in this paragraph 17, including, but not limited to. re~unable att~rne~~~ iees. ; € 18. Waiverof Exemptions. Ever}~ person liable or who may becume liable undcr the ;~ote or under this 1~IortgaDc or who has ~ ~ assu~~~~.:, s~rved as surety fur or guaranteed the obligations under the Note or under this Mortgag~ hereb~• waives thr benefit~ of ~ P all exemption rights, including, but not limited to, the benefit of the Homestead exemption (but ~nl~~ to the e!ctent procided b}~ ~ faw) as ta the ~ote and this `lort e t S~ Se• E !9. If Lender or any successor in interest as to the \ote at some future date transfers, endorses or assigns the vote hereto'ore de~cribed to the federa! \ational Mortgage Association or the Federal Home Loan Mortga~;e Corporation, federaUy chartered ~ corporations, it is understood and agreed that all of the pruvisions of paragraphs 17 and 18 shall be automatically amended tcz ~ pro~ ide a; follows: € 17. Accekration; Remedies. Except as provided in puagraph 16 hereof, upon Barrower ~ breach ot anv covenant or f agreement of Borrower in this Mortgage. including the covenants to pay wfien due any sums secured b~~ this hlortg~ge, ~ Lender prior to acceleraticx~ shatl give notice to B~rower as provided in paragraph 12 hereof ~pecifying: (1) th~ breach; (2) the aMion required to curr such brexch; (3) a dnte. not less than 10 day~s ircxn the date the notice is mailed to BoROw•er, by wfiich such breach mus! be cured; and (4) that failure to cure such breach on ~ betore the date specified in the notice may ` result in acce{eration of the sums secured by this Mortgage, foralosure by judicial proceeding, and sak o~the Property. The ' notice shxll [urther inform Borrow~r of the risht to reinstxte a:tcr accekration and the right to assert in the toreclosure ~ proceeding the nonExistance of a defauk or any other defense ot Borrower to accekration artd foreclouue. ICthe breach is not ~ cured on or before the date specified in the notice, Lender. at Lender's option. may declare all of the wms secured by this ~ Mortgage to be immediately due and payable without further demand and may foreclose this MortgAge by judicial ~ proceeding. Lender shali be entitkd to colkct in such proceeding all expenses of io~eclosure. including, but not limited to, ~ reusonabk attomeys' fea. caut costs. and costs of documentary evidence. a,bstracts and titk reports. fi ~ ~ ao~K 4$6 PacE ~~Q r ~ - , . . ~ ~ .A ~ ~ . .a. ~ ~ _ i: . . _ - . _ _ ~