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Home My WebLink About0950 _ . Lendcr's written agreement or app?icabie law, Borrow~er shall pay the amount of all mortgage insurance pnmiums in.~he manner providcd u~dec parag~aph 2 hereof. Any aniounts disbursed by [.en:ier pursua~t to Ihis paragraph 7, with intercst ihcreon, shall become additional indchtedncss of f3orrower secured by this Marlgage. Unless Borrower and I.ender agree ro other terms o! payment, s~~ch amounts shatl bc payable upan notice from I.ender to Borrower requesting payment thereof, and shall bear interest from the date of disbiirsement at thc rate payahle from timc to. time on outstandtng pri~cipal under the'Note unless ps?yment of interest at such rate wauld be contrary to applicable law, in which event such amounts shall bear intcrest at tFw highe3t rate permissiGle under applicablc law. Nathing contained in th:, paragra~h 7 shaU reqtiirc I_ender to incur any cxpense or take any action ficreundcr. 8. Inspectio~. I.ender may make ar rause to be made rea~onablc cM~iec upon and ins~ctions of thc Pro~?e~ty, provided that I.ender shall give Borrower noticc prior to any such inspection specifying reasonable cause therefor related to I.ender's intcrest in thc Propcrty. 9. Condemnatlon. The proceeds of any award or claim for damages, cli~ect or conseque~~tial, in conne:tion with any ~ candemnation or other takinR of the Pra~rty, ar part Ihereof, or for conveyance in lieu oi condemnation, are hereby assig~ed ~ and shall bc paid ta I c~der. ~ . In ~he event of a total taking af 1he Property. the proceeds shall t>e applied to thc cums secured by this Mortgage, w~ith the ercess, iF any, paid to Borrowcr. In Ihe c~•cnt of a parti~l taking of the Property, unless Borrower and Lender c~herwi~c aRrce in writing. there shall be applied to the sums secu~ed by this Mor~gage such propariion of the proc~tds ' as ic equal to that ~roportion which the amount of ~he sumc secured by this Mortgage immediately prior to the date of taking bears to the fair ma~l~et vali:e of the Property immediately prior to the i~ate of taking. with the balance of the proceeds paid tn Borrower. - • • ~ If thc Properly is abandoned by Barrow~er, or if. aftcr notiee by Lender ta Borrowcr that the condemnor offe~s to make ~ an awarci or setNe a claim for damages. Borrower fails to res~nd to l.ender within 30 days af~er the date such notice is - mailed. I_ender is authorized ta coUect and apply the proceeds, at i.ender s option, eithe~ to restoration or repair of the Pro~rt~• or to ihe sums secured hy this hlorfgage. Unlesc Lender and Borrower otherw~ise agrec in ~~~ritine. any such application of proceeds to principal shal) not extend or po~tpone thc due dalc of thc monthly installmcnts ref~rrcd to in paragraphs 1 and 2 hereof or change thc amount of such installments. - . ' _ 10. Borrower Not Released. fixtensian of the time for payment or modification of amortization of the sums secured by_this T~iortgage granted by l.ender to any successor in interest at Barrower shall not operate io release, in any manner, . the liahility of the oricinat Borrow~er and Borrower'~ successors in interest. i.ender shal) not be required to commence • pmceedings ag;cinst such successor or refuse to extenJ time for payment or otheru~ise modify amortization oi the sums serured hy thic Mohgage bp reason of any demand made b~~ the :~ricinal Borrower and Barrower's successors in interest. 11. Furbearance by I.ender Not a Waiver. ~ny f~rbcarance by [_ender in~exercising any right or remedy hereunde~, or t~therwise a(Torded hy applicahle law, shall not be a waiver of or prectude the exercise of any such right or remedy. T~e procurement of insurance or the payment of taxes or c,ther liens or charges by [.ender shall not tie a waiver of I_ender's ~ rig~! te z:cclerate_the maturity of the indehtcdness sccured hy this Morlgage. ~ . • ~ 12. Remedies Cumulative. All remedies pr~vided in this hiortgage are distinct and cumulati~~e to any other right or reme~iy under this l~:ortgage or a.fforded hp law or equity, and may be exercised concurrently, independendy or s~~ccessively. l3. Successors snd Assigns Boi~nd; ~oint and Seti~eral [.iabilfty; C'aptions. The covenants and ag~~ements herein contained shal) hin~, and the rights her~under sh:~ll inure to. the re~pecti~•e succecsors and assigns of I_e~der and Borrower, subject t~.tHe pre.~ision~ of paragraph 17 hereof. All_cavenants anJ agreements of Borrower;shall tx joint and several. The captions and he:::iing~ of tne paragraphs of this Morlgage are for convenience only and are not to be used to interpret or definc the ~rovisions hereoL • ~ 14. Noiice. Except far any notice reyuired under applicable la~?• to be given in another manrsar, ia) any notice to BOffOWCT (lfO~it~td ~OP in this M~rtgage shall he givcn hy n~ailing ;uch notice by ;ertified mail addressed to Borrower at the Property Address or at such other address as Bc~rmwer may designate by notice to T.ender as provided herein, anci (b) an~• notice to Lender shal) he given hy certified mail. return receipt requested, t~ I.ender's address stated herein or !o - s~ich other address as Lender may designate by noti~e to Borrow•er 3s pror•ided herein. Any notice provided for in this Mortgage shall t~ deemed ta ha~~e been give~ to Borro~•er or Lender'when given in the manner ciesignate~ herein. 15. Uniform MorfRage; GoverninR i.aw•; Severabilify. This form of mortgage combines t~niform covenants for national ~ use and non-uniform co~•enants with limited varaations hy jurisdiction ta constitute a uniform.security in~trument covering ~ _ real property. This I~tortgage shall be governcd hy thc iaH~ of the juricdiction in which the Froperty is located. In the ' event that any provisian or clause of this Mortgage or the Note conflicts ~ ith applicable law, such conflict shall not affect - ~i other provisions of this Morigage or the i~ote K•h~ch ran be given ef~ect without the contlicting provision, and ro this _ - _ end the provisions uf the Mortgagc and the I~'otc are ~leclarcd to bc severable. - . 16. Borrower's Copy, Borrower shall be fuinished a conformed copy of the Note and of ihi; hiortgage at the time o( execution or afrer recordation hereof. . . ~ ~ 17. Transfer of the Praperty: Assumptian. Tf all or any part of the Property or an interest therein is soid ot transferred by Borrower withoist Lender's prior ~vriuen consent. excluding (a) the creation of a lien or encumbrance subordi~ate to this M.~rtgage, (b) the_creation of a purchase money security interest for iiousehol~ appliances, (c) a~transfer by devise, - dcscent or by opcration of law upon the death of a joint tenant or (d) the grant of any leasehold int~rest of three years or less not containing an option to purehase, I_ender may, at Lender's option, declare all the sums secured by this Mortgage to be imn.~Jiately due and payable. Lender shall have wai~~ed such option to accelerate if, prior ro 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 is satisfactory to I_enJer and that the interest payable on the sums secured by this Mortgage shall be at such rale as Lender shall request. 1f I_ender has waived the option to accelcrate provided in this paragraph 17, and if Borrower's successor in interest ha~ executed a written assurinption agreement ~ccepted in writing by Lender, Lender shall release Borrower from a11 oblig:~tion~ under this Mortgage and the Note. ~ If I_ender exercises such option to acceleratP. [.ender shall mail Borrower notice of acceleration in ~ccordance witfi - paragraph 14 hereof. ~uch notice ~,hatl prov;::e ~ period of not Iess than 30 days from the date the notice is mailed within which Borrowe~ may pay the sums declared dce. If Borrow~er fails to pay such soms prior to the expiration of such period, Lender may, without further notice or demand on Borrow•er, invoks any remedies permitted by paragraph 18 hereoE. ~ , NoN-UtviFORt~t Coveav~rrTS. Borrower and I_ender further c~venant and agree as follows: 1~. Accelerafion; Remedies. Exce~t as provided in pa~mph 17 hertof~ upon dorro:.e~'s bresch af snr cove~t or ! agreemcnt of Borrower in Ehes Mortg~ge, fncludir~g tfie c~vennnts !o p:y r?hen ~ue sny snms secorcd by this MortEa;e, Leuder ~ ' prior to acceier~tion shall mail notke to Bonower as provlded in psrs~graph 14 hereoE specifyiag: (i) the brtscb; (2) tbe action required to cure surh breach; (3) a ds~te, ~ot less fh~n 30 days from the dnte the natke b~~iled fo Eorrowtr, by wleicl~ socl~ • breach must be cured; and (4) that failure fo curt such breach on or htfore tbe date apeciSed ie the sN_f~:e s~y rrsdt ia ~ sccekration of the sunes secnred by this Mortgage~ foreciosure by jvdiciai proceedia= md sak af the Pro'erty. 'Ibe aotke sha~l further inform Borrower of the right ta reinstAte affer accrlention snd t~e r~ht to tessert in.tbe foreciasnrs pmceedi~ _ thc non-ezisfence of a default or sny other deferese of Borrower to accekration and forte{owrt. If tbe brescb is not carrd on or before the dafe specffied in the notece, Lender at Lender'§ opti~d may ~iecltue sq of the ssms sec~red by tbis M~rtaaae to be immcdiately due and payab}e wlthout fnrther dem~ad pr~d may forcclose this Mort~a6e hy j~dicisi procee~. Le~der sial be entitkd to colkct in such proceedir~ all expenses of forec{osure. includic~, bnt not Nmited to, reasoeabk sttoraey'~ isa, ~ ~~d costs of docnmentnry eridence, a~trt~cts~snd trtk rrports. i 19. Borrotree's RE~I~t to Reinsfate. Notwithstarding Lender's acceleration of the sums secured by this Mortgage, - Borrower.shal) have the right to have any proccedings begun by Lender to enforce this Mortgage discontinued at any timt ~ BOD~K i3~ Pllf~ BL'OK J 1( P~~~. ! l~ . RC•~CC~f~ -