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Home My WebLink About0915 3. . . • . . . . ~ . . ~ ; any condemnation or other taking of the Property, or pa~t thereof, or for co~veyance in lieu of condemnation, are hercby asslgned and shall be paid to Lende~, subjeN to thc terms of any mortgage, deed of trust or other security agreement with a Hen which has priorlty over this Mortgage. 10. Borro~ver Not Rtlhsed By Leader Not s Waiver. Bxtension of the time for payment or modification of amortization of the sums secured by this Mortgage grantrd by Lender to any successor in interest of Borrower and ail other parties who are or hereafter become secondarily liable shall not opcrate to release. in any manner, thc liability of the original Bor~ower a~d Borrower's successors in interest. Lender shall not be r~quired to commence proceedings ~ against such successor or refuse to extend time for payment or otherwise modify amorti~ation of tht sums secured by this Mortgagc by reason of any detnand made by the original Borrower and Borrowcr•s successors in interest, Any forbearance by Lender in exe~cising any right or remedy hereunder, or otherwise afforded by applicabie law, shall not be a waivcr of or preclude the exercise of any such right or remedy. • 11. Succeaaors and Asstgns Boead; Jotnt tnd Sersr~t! Lisb!!ily; Co-sigaers. The covenants and agreements herein contained shall bind~ and the rights hereunder shall inure to, the respectivt successors and assigns of Lender and Borrower, subject tp the provisions of paragraph 16 hereof. All covenants and agreements of Barrower shatl bt joint and : several. Any Borrower who co-signs this Mortgage, but does not execute the Note, (a) is co-signing this Mortgage only to mortgage, grant and convey that Borrower's interest in the Property to Lender under the terms of this Mortgage. (b) is nut personally liable on the Note or under this Mortgage, and (c) agrees that Lender and any other Borrower hereunder may agra to extend, modify, forbear, or make sny other accommodations with regard to the terms of this Mortgage or the Note without that Borrower's consent and without releasing that Barrower or modifyiag this Mortgage as to that Borrowtr's intert~t in the Propcrty. 12. Notlre. Except for any notice r~quired under applicable law to be given in another manner, (a) any notice to Bonower provided for in this Mortgage ahall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein~ and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided hereio. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or I.ender when givtn in tho manner designated herein. 13. GoYSrntng Laa; Sever~biltty. The state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to this Mortgage. Jn 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 this Mortgage and the Note are declared to he severable. As used herein, "costs"~ "expenses" and "attorneys' fees" include all sums to the extent'not prohibited by applicable law or limited herein. 14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage~ if requested, at the time of execution or after recordation hereof. ~ 2S. Rt6s~bilitatlon Loan Agntmsnt. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation, improvsmtnt, repaii, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights, claims or defenses which Borrower may have against parties who supply labor, materials or services in connection with improvements made to the Property. 16. Tmnsfer of t6t Properiy. If Borrower selis or transfers all or any part of the Property or an interest therein, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage~ (b) a transfer by devise, descent, or by opeeation of taw upon the death of a jaint tenant, (c) the grant of any teasehold interest of three years or less not containing an option to purchase, (d) the creation of a purchase money security interest for household appliances, (e) a transfer to a relative resulting from death of a Borrower, a transfer where the spouse or children of the Borrower become an owner of the property, (g) a transfer resutting from a decree of dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the Borrower becomes an owner of the property, (h) a transfer into an inter vivos trust in which the Borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property, or (i) any other transfer or disposition described in regulations prescribed by thc Federal Home Loan Bank Board, Borrower shali cause to be submitted information required by Lender to evatuate the transferee as if a new laan were being made to the transferee. Borrower will continue to be obtigated under the Note and this Mortgage unless Lender releases Borrower in writing. If Lender dces not agree to the sale or transfer, Lender may declare all of the sums secured by this Mortgage to be immediately due and payable. If Lerider exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 12 hereof. Such notice shali provide a period of not less than 30 days from the date the notice is mailed or delivered 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 17 6ereof. . NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as foltows: 17. AccettrAtioa; Remedies, Except ~s provided ie par~grapb 16 hereof, or otherwlse required by taw, upon Borrower's brcstch o! any eovtaaa! or agreemen! af Borrower In thfs Mortgage, iacluding the coven~nts to pAy when due say sums secnred by this Mortgage, I.ender p~ior to Accelerntion shall give notice to Borrower xs provided in pars+graph 12 hsreo! specitying; (1) t6e breach; (2) the actlon required to cure such brexch; (3) a dste, not less than 10 dAys from the ~ d~te tde notice is mAikd to Borrower, by w6tch such breACh must be cured; nnd (4) thnt tailure to cnre such brestc6 on or before tbe date speclfied in the aotlce msy result in acceler~tion of the sums secured by this MortgAge, foreciosure by judieial proceeding, aod the s~le ot the Property. The notics shAlt turther in[orm Borrower of the right to reiastpte After accekration aad the rig6t to assert in !he foreciosure proceediog the nonexistence of n detault or any.other detense oi Borrower to sccetentioa and toreclosure. It the brenc6 ia not enred on or betore iht date speciflyd in the notlce, Lender, at Leeder's option, mAy declare a!! ot the spms secnred by thls MortgAge to be immediately due ~nd payable wit6out fnrther demand and snAy loreciose thls Mortgage by judiciAl proceediog. Lender shAll be entitled to collect in such proceeding ~11 expeases ot toreclosure, Inciuding, but not Umited to, reasonxbie attorneys' fees. court costs, and costs ot documentAry evidcnce, abatr~cts nnd title reports. 18. Borro~rer's Rig6t to Reinstate. Notwithstanding Lender's acceteration of the sums secured by this Mortgage due to Borrower's breach~ Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time prior to entry of a judgment enforcing this Mortgage if; (a) Borrower pays Lender a!I sums which would be then due under this Mortgage and the Note had no acceleration occurred; (b) Borrower cures all ~a~K 554 ~A~~ 9i3 ' ~ ~ ~ i __--r= =-=T--s: _ - -