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Home My WebLink About0973 . ~ , ' ' ~ ~ ~ (~i.~!li b~1.4 ,r , ` 6f~~ * d lende~'s wntt~n agreement oi_apptfcable ta4v. Bo?rower shitK amount o?igage ~nsurance prem~~_~ms in 1he , manner provided under paragraph 2 herEOl. - . Any amounts disbursed by Lender p~rsuaM to this paragraph 7, w~th interesl thereon, shall become addilional ~ndebtedness o( Borrower securPd by ihis Mortgaye. Unless Borrower and Lendar ayree to olher tQrms r,l paymenl, such amounts shall be payable upon notice from t.ender to Borrower requesting payment th~~eol, and shall bear interesl from the - date af disbursemant ai the rate payable Irom tim~ to time on outstan~ing principal under the Note unless payment ol inlerest at such rate would be contrary to appl~cable law, in which avent such amounts shall bear inleresl al the h~ghest rate permissible under applicable taw. Nottiing conisined in lhis paragraph 7 shail require Lender to incur any expense or tak~ any action hereunder. ~ . ; 8. - Inspaotlon. Lender may make or cause to be made reasonable entries upor~ and inspections of the Property, provided that Lender shall give Borrower ~totice prior to any such inspection speci(ying reasonable cause theretor related to Lenders interesl in the Property. ~ A. Condsmn~tlon. ?heproceedsotanyawardorclaimtordamages,direclorconsequential,inconn~cUo~~withany condemnation or olher taking of ihe Property, o~ part thereol, or tar conveyance in lieu ot cendemnation, hereby assigned and shall be paid to Lender. ~ ~ ; In the event of a total taking ot the Properly, the proceeds shail be appiied to the sums secured by !his Mortgage. s with the excess, if any paid to Barrower. In Ihe event oi a partial taking of ihe Property unless 3orrower and Lender ~ y otherwise ag~ee in writing, ihere shall be applied to the sums secured by this MortgaAe such proportion ot the pro~eeds ~ as ~s equal to that proportion which the amo~~t oi the sums secured b~~ this Mortgage immediately prior to Ihe date ol _ takins bears to the fair market value of.lhe P~operty immeri~at~ly prior to the date of taking, with Ihe b~lan~e ot the proceeds paid to the Borrowar. ' . ~ _ ~ I( lhe Property is abandoned by Borrower, o[ if, after notice by Lender to B~rrower Ihal the condemnor o(iers to make ' an award or setile a claim tor darr~ages. Borrower_ fails to respond to lender v.~ilhin 30 days a(ter the date such notice is mailed, lender is authorized to collect and apply the proceeds, at Lende?'s option, either to restoralion or repair ol the Property or to the sums sec~red by this Mortgage. - Unless Lender and Borrower othenvise ayree in writing, ahy such application of proceeds lo principal shall not extend - or postpone the due date o} the mon~hly installments reler?ed to in Far~~raphs t and 2 hereot or change ihe amount of such instaltments. ~ ; 10. Borrower Not Reieased. ExtEnsion ol the time for payment or modification ot.amortization ot the sums secu~ed ; by this Morlgage gra~ted by Lender to any successor in interest ot Borrower shall n~t operate to release, in any manner, . the liability ol the original Borrower and Borrowers successors in interesl. Lender shall not be required to commence ~ proceedings against such successor or reluse to extend time tQr paymen~ or othen~vise modify arnortization of the sums secured by this hlortgage by reascn of any demand made by ;he original Borrower and Sorrower's successors in interest. , 11. ~orbearance by lender Not a Wa(vor.. Any (orbearance by Lender in exercising ar,y right or remedy hereunder, , or oth~n~vise aftorded by~applicable law, shall not be a WatVeroi oi' preclude the exerc~se oi any such righl or remedy. The procurement oi ins~rance or the payment of taxes or other liens or charges by Lender shall not be a waiver oi Lender's right to acceterate the maturity ot the indebtedness secured by this Mortgage. ~ 12. Remedlea Cumulatlve. Aii remedies provided in this Mortgage are distinct and cumulalive to any other righl or remedy unde~ ihis Mortgage or afforded by law or equity, and may be exercised concurrenlly, independentlyor successively. . 13. Successors ~nd Assigns Bound; Joint and Sever~l Llabllity; Captlons. The covenants and agreements tierein contained shall bind, and the rights hereundPr shall inure to, the respective successors and assigns oi ~ '_ender anci c~;,~rower, subject to the provisions o! paragraph 17 hereof. Alf covenants and agreements ol Borrower shall bs _ joint and severat. The capli~ns and head~r.gs oi the para~raphs ot this Mortgage 3re for covenience only and are not to be - used to interprel or define the provisions hereoL _ 14. Notlce. Ex~ept for any notice required urde: appticable law to be given in anolher manner, (a} any nolice to Bor!ower provided for in this Mortgage shall br g~ver. 5v maiting such notice by certified maif addressed to Borrowet at the Property Address or at such other address as Borrower may designate by notice to Lerder as provided herein, and 1 ~b) any notice to Le~der shall b~ givan by cert~fied ma~l, return receipt requested, to Lenders address stated herein oF to j such other address as Lender may designate by not~ce lo Boirower as prpvided h~rein: Any notice provid~d tor in this ~ - Mortgaae shall.be deemed to tiaye been given to Borrower or ~ender when given in the manner designatsd herein. ` 1S. lJniform Mottgage; GoverNng Law; Severability. This torm of.mortgage coinbines uniiorm covenants (or - n2tional ~se and non-un~form covena~ts vnth ~.m,ted vanaGons 6y juristlict~on to constitute a unitcrrn security instrument covering real property. The sta?e and Iocal laws appl~cable tu this A4ortgag~ shatl be theJaws of the ?urisdiction in which = the ?roper~y is located. The fose~o~ng ;entence sna!i not I~m~t the appt~cability of federal law to this mertgaae. !n the event ~ ihat any provisron or ctau~a of ih~s Mortyaqe or the Note conll~cts ~v~th ap~,'.~cab?e law. such confl~ct sha~l not attect other prov~s~ons ot this Mortgage ar Ihe Note t•rh~ch can be g~ven effect w~thoul the ccnllict~ny prowsion. and to this end !he arovisiens of the Mortgage and ihe hlote are d~clc~red to be severabie. ~ 16. Borrowe~'s Copy. Borrower shall be fumi;hed a contormed copy of the Noie and of this Mortgage at the time ~ ot execution Qr after recordation hereaL . _ 17: Tranafer of the Pro~erty; Assumption. If all or any part ot the Propertyor an interest therein is so)d or transferred by Borrotiver without Lende~s prior wntten conser,t, excluding (a) the creation of a lien or encumbrance su~ord~nate to ; this M~rtgage, (b) the creation of a purchase mo.ney security interest for hausehofd appiiances, (c) a trans(er by devise, ` descent or by operation of law upon the death ot a joint !ena~~ o! (d) the grant of any leasehold interest ei ihree years or less not ~ontaining an oplion to purchase. Lender may, at Lender s option, declare all ihe sums Secured by this Mortgage to be ~mmedfateiy due and payable. Lender shalf have ~vaived such option to accelerate iI prior to,the;sale.or Iransfer, Lender and the person to ~vhom the Property ~s to be sold o~ transierred reach ayreement in wri,ing that the credi! oi such person = is satisfactory to Lender and that the interest payable on the sur~s secured by this Mortgage shall be at such rate as Lender _ shall request. If Lender has waived the optior~ to accelerate provided in this paragraph 17, and if Borrowers successor in interest has executed a written assumption agreementaccepted i:~ wriUng by Lender, Lendershal! release Sorrowertrom at! obligat+ons under this Mortgags and the Note. . • ~ . . _ ` I( Lender exercises such ~ption to acceleraie, Lender shal! ma~l Borrower notice oi acceleration ir. accordance with f para~raph 14 hereot. Such notice shatl provide a period ot not less that 30 days from the date the notice is mailed rvithin which Borrower may pay the sums dactared d:~e. It Barrower fails to ~ay surh sums prior to ihe expiralion of such period, Lender may; without iurther ~~iice or demand on 8orrower, ir~voke any remedies permitied by paragraph 18 hereof. ~ NON-I~NIFO~M COYENANTS. Borrov~er and Lender further covenant and agree as follows: ~ , ~ 18. Acceleration; Rsmec~les. Except as provtded in parayraph 1 ~ hersof, upon~Borrow~r's breach of any coven~+nt c~r agr~ement of. Borrawer f n this Martgag~, I nciu~ing the covsnaMs to pay when due any sums socured i~ by thls MortgaQe, Lend~r prior i;; accpleration shal! inail no:~ce to Bqrrewer as provldQd !n para~rs~rh 14 her~of specifying: (1) the brsach; (2j ~~?e acttdn ~equiied !o cure such broach; (3) z dats, not less than 30 days irvm the - _ • datethenoticoismallaaltoBor~ower,bywhlchsuchbreechmustbecured;and(4)tha2fallur~tocur~auchbr~ach on or before ths date specti[ed in ths nottce mey result In acceterstion of ih~ sums s~cur~c! ~y thls Monga~e~ foeeclosure by Judictal proseoding artd sale of the Prop~ity. The notics shaN further inform Borrow~r of the rlght to ' ~elnstste afte~ acaele,ratlon and the rlght to as~ert in the foreclosure procee~ing the nort•exlstenco of s d~fautt ar r~ any other detense of Borrower to acc8loration and foraclosure. If the ~reach (s not cur~d cin or bsfor~ th~ dats ~ speclflad in the noti Lender at Lender's option may dsclare~all of the sums s~cursd by Yhis Mort~a~e to b~ f immedlately due and payable without further demend and may foreclosa thts Mortgaqs by judlcls! pracesdln~. ~ Lendar shall b~ entitled to ca~lect ~n auch proceeaing all expenses oi foreclasu«, includfr~q, but not Ilmft~d to, ` reasonable attorney's feea, and costs of docum3ntbry• evldence, abstracts end fitfa reports. " ~ 19. Borrower's Rlght to Reinstate. Nohvithstanding Lende~s acce[eratioR of the sums secured by this Mortgage, ~ Borrower shall have the ngh[ tc~ have any proceedings begun by leniie~ to eniorce th~s Mortgage discont~nued at any time ~ ~ . ' ~ ~ . ~ ~ ~oeia~~~ ~ ~ ~ - - , . - - . _ . -