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Home My WebLink About0921 . . . . . . . . _ 1~ . . . . . . . . i_ender's written ag~eement or applicable law. Borrower shall pay ~he ?muunt of all mortgage insurance premiums in the mannec provided under paragraph 2 hereof. . • A~y anta~nts dishurscd by I.ender pursuant to this paragraph 7, witfi iriterest therton, shall become additional ~ in~lcbtedncss af Ao~rower secureci by this Mortgage. Unless Borrower and l.ender ag~ec to other terms of payment, such amaunts shall hc payablc u~n notice from t.cndcr ta Borrowcr requcsting payment thereof, apd shall hea~ interest from the dat~ of diabursement at thc rate p:+yablc fram timc to time on autstanding principal under thc Note unless payment of interest at si~ch ~ate would be contrary ta appiicable law, in H•hich event such amaunts shall t~ea~ interest at ihe highest rate permissible u~~der applicablc law. Nothing cant.iined in this parag~aph 7 shal) ~equiro I.ender to incur any cxpensc or take any action hcreunda~. 8. inspecHon. I.ender may make or cause to be made rcasonable entr.ec u~+on and inspections of the Property, provided that l.ender shal) give ~3orra~~er notice prior to any~ such inspection speci[ying rcasonable cause therefor related to Lender's imcrest in Ihc Propcrty. - . ~ 9. Condemnation. The pro:ecdc of any award or claim far elamages, direct ar a~nsequential, in connection with any . ~ rondemnation or other taking of the Property, o~ part thereof, or for ~onveyance in lieu of condemnation, are hereby assigred an~l shall hc paid to i.endcr. ' In the even~ of a total ~aking of the Property, the proceeds shall be applied to the sums secured by tl~is Martgage, w~ith thc c+cccss, if any, paid to Borr~wcr. in the crent of a partial taking of thc Property, unless Borrawer and i.ender otherwi~e agree in _writing. there shall be appliec! ta the sums secured by this Morlgage such proportion of the proce~ds as is equal to that propoction which the amount ~f the sums cecured ~by Ihis Mortgage immediately prior to the date of ~ Iaking bears io the fair markct valur of thc Propcrty immediately prior to the date o( taking, wilh thc balance ~f the proceeds paid M Borrower. ~ . if the Praperty is abandoned by Borrower, or if. aftc~- natice hy I.ender tc? Borrower that the condemnor offers to make ~ - an aH~ard or scttlc a claim for damages, 8orrower fails to res~nd to I_cnde~ wi~hin 30 days after the date such notice is mailcd, I_ender is authOri'LCa to COIICCI and apply ~he procecds. at I.endcr's option, either to restoration or repair of the ~ Proper~y or to the sum~ sccured h}~ this htcrtgage. " ~ - Unless l.er~der and Borrow~er otherwise agree in ~vritine, any such application of proceeds to principal shall not extend or postponc the duc datc of thc monlhl~• installmcnts refcrrcd to in parag~aphs I and 2 hereof or change the amount of such installments. - 10. Borrower Not Released. Extensian of the time for payment or modification of amortization of the sums secured ~ by this Mort~age granted bp l.ender to any siiccessor in interest.at Borr~wer shall not operate to release, in any manntr, the liability of the original Borrow•er and Bnrrower's successors in interest. Lender sliall nat he required to commence pn~ceedings against such successor or rehise to extend time for payment or otherwise modify amortization of the sums secured by ,hic Mortgage hy reason of any demand made by Ihe orieinal Borrower ano Borrawer's succestors in intertst. ~ ~ 1 i. Forbearatice by i.ender Not a Waiver. Any forhearance h}' I.cnder in~exercising any right or remedy hereunder, or _ otherwise a(Torded by applicahle law, shall not he a wai~~er oi ar preciude the exercise of any such right or remedy. The procurcment~of insurance or the payment of taxes or other liens or charges by I.ender shall~not be a waiver of Lender's right t~ accelerate the maturity af the irdchtedness secured hy thi~ Mortgsge. : 12. Remedies Cumulatir•e. All remedies provided in th:; 1~lortgage are distinct and cumulativc to any othtr right or ' ~ reme~ly under this Morlgagc or afTorded hy law or equi~y, and may t~e exereised concurrentiy, independently cr successively. i3. Successors and Assigns Bound; Joint ~nd Se~~eral i.iability; Captions. The covenants and agrcements herein ~ comaineJ shall hind, and the rights hereunder shall inure to. the respective successors and assigns of I_ender and Borraw•er, ' subject ta the provisionc nf paragraph 17 hereo~. Ali ca~~enants and agreements of Borrower;~hall be jc~int and several. The captions and headings of the parzgraph~ ;if this'Mortgage are for convenience- only and are not ta b~ used to interpret or definc the provisi~ns hercof. ' . - . l4. ?~tulice. Except for any notice required under applicable law to be given in another manner, (a) any notice ta . - Borrower pravided far in this Mortga~e shall hc given b~~ mailing such notice by cerlified mai! addressed to Borro~•er at ihe Qroperty Address or at such other address as Borrow~er map designate by notice to i_ender as provided herein, and (h1 any nntice to I_ender shall he gi~•en by certified mail, reiurn receipt requested, to I.ender s address stated herein ar to . _ ~uch olher address as I.ender ma~~ designate by nolice to Bormwer as provided herein. Any notice provided for in this titortgage shall bc dcemcd to have bcen given to Borrow•cr, or i.cnder when given in the manner designattd herein. " - 15. UniCorm MorlRage; Gorernin~ I.ar+•: S~~:erability. This form of mortgage combines uniform covenanls for national usc and non-uniform co~•enants with limited variatians hy jurisdiction to constitute a uniform_ security instrument covering { real property. This Mortgage shal) bc govcrred hy Ihc law• of thc jurisdiction in which the Property is !ocatec?. In the - event that any provision or clause of this Morigage s~r the Note conflicts w ith .applicable law, such conflid shal) not affect other provisions of this Mortgage or the Nate w~hich can be gi~•en effect without the conflicting provi~ion, an~ ta t~is end the pravisions of the i~tortgage and the Note arc d~clarcd tc~ hc severable. 15. $arYOw•er's Copy. BorroN•er shali be f?~rnished a con(ormed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. ~ 1'7. Tra~sfer of the ProperEy; Assumplion. Tf all or an}~ part of ihc Property or an interest thereiri is'sold or transferred . by BorraK~er without I.ender's prior written constnt, e~cluding (al the creation of a lien or encumbra~us subordinate tv _ this Mortgage, (b) the creation of a purchasr money security interest for household appliances, (c) a transfer by devise. descent or by operatien of law up~n thc death ~F a joint tcrant or (~I) the grant of a~y leasehold interest of three years or less not containing an option t~ purchase. I.ender may, at Lender's option, declare all th~ sums secured by this Mortgage to be immediately due and payablc. Lender shall have waived such option ta accelerate if, prior to the sale or transfer. Lender ' ! and the person to whom the Property is to be sold or transferred reach agreement in writing Ihat the credit of such person i ic satisfactorp to i_ender and t~at the interest payable on the_sums secured hy this Mortgage shall be at such rate as Lender shall r~qu~st. If i_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in - interest hac executed a writlen assumption agreement accepted in writing by Lender, Lender shall release Borrower ~rom ali obligations under this Mortgage and the Note. . ~ If I_ender exercises such option ta accelerate, [_enJer shall mai~ $orrow•er notiee of acceleratian in azcordance with paragraph 14 hereof. Such noti~e shall provide a period of noi less than 30 days from the date the notice is mailed ~iihin ~•hich Borrow~er may pay the sums declared d~~e. If BorroH~er fails to pay s~~sh sums prior to the expiration of such period, ; Lend~r may, without further natice or dcmand on Borrower, invoke any rcmedies ~~mitted by paragraph 18 hereof. ~ . . - ~ 1\orr-Urv~FOrtt~t Covex~NTS. Bortower and Lender further covenant ar~d agree as follows: ~ ~ 18. Acceleraiion; Remedks. Except ~s provided in par~raph 17 here~of, upop $orrow~er's bresch of any covensnt or agreement of Borrower in tfiis Mortgage, inclading the covenants to pay when due ~ny 3nms stcur~d by il~ts 1Vlorf`aEe, ~tedtr ~ prior to stccekrateon sha11 mail notics fo Bormr?e~ as provided in Parsarsph 14 hereof spsrifying: {1) the breach; (1) tht sictio~ s required to cure such brench; (3) a date, not less thAn 30 d:ys fmm the d~fe ti+e notke is maikd fo Sorror?er, by wEoich sucM _ ~ bres~ch must be cured; and (4) that failure fo cure such bres~ch on or before the date speciBied 3n ihe aotke raay raWt ta accekration of the sums second by this Mo~tgage~ furoctosure by judicial proseedia~ ~ad sak o~ the Property. 'ibe notice j shall further inform Eorrower of the risht fo reinstate affer acceleraKon ar~d the right to ~ert in the foreclosore proeetdi~ ~ the non-rx~stence oi a defaoft or any ether defense af Rorrowt.r to accekntbn ~nd foreciosnre. if tht bresch is not cared on o: before the date speciflcd in the notke, Lender ~t Lender's o~ption may declm aN ot the su~r,s secured by tbis 1Vlort=~e to be immediatdy due and paysbk without furiher demaqd aesd may foreclosc this Mortga~e by jadicisl proctedi~. Lcader shap be entitkd to colkct in such procec~ieeg aq expeases of foreclosun, incladi~. b~t not limited to, rtawsable ittoreey's tces, and costs of docnnRentary e~Idence, sbstracts =nd titk reports. ~ 19. Borrower's RiRht fo Relustste. Notwithstanding Lender s acceleration of the sutns secured by this Mortgage, - Botrower shall have the right to have ~ny proceedings F~egun by Lender to enforce this Mortgage discontinued at any time ~ g~o~ Pac~ - - - - - - . . _ _ . y ».r . . . . ~