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Home My WebLink About0920 _ - - ~ - . . . : . . ! l.ender's w~itten agrcement or applicabl~ Isw. Bo~raHCr shali pay ti~e amaunt of all morigkga lnsurance premiums in tho ~ ~ . manner provided under paragraph ~ hereof. ~ Any am~unts disbi~rsrd by Lender nursuant to this pa~ngraph with intecesl thereon, shall becomo additional indebtedness of Borrower secured by this Mo<+gage. Unless Bo~rower and I.ender agrinc to ather ttrms nf payment, sueh amounts shall be payable upon noticc from I.ender ta Barrowcr reques~ing payment thereaf, and shall bcar interest from thc date of disburscmert at thc rate payable fr~:ii time to time on outstanding principal under tho Notc unicss payrn~nt of ~ ~ inte~est at such rate wouid be contrFry to applicable law, in ~+hich event such amaunts shall bear interest at the highest rate pzrmissible under applicable law. Nothing contained in this paragraph 7 shall require i.cndcr to incur any cxpenss ar take any action he~eunder. ~ 8. insperHon. Lender may make or cause to be made reasonabte entries upon and inspections oF thc Pr~perly, pror+ided that T.ender shail give $orrower notice prior to any such inspection spccifying rtiaso~able cause therefor relatcd to I.ender'a inte~~st in the Propcriy. . ' . . 9. Condemna~bn. Tho proceeds`of any award or claim for damages, direet or consequentiat, in eonnection with any condemnation or other taking of th~ Property, or pa?t thereof, o= for conveyance in lieu af condemnalion, are hereby assigr.td and shatl be paid to Lendcr. ~ ~ ~ In the ~vent of a tatal taking of the Prcp~rty. the proceeds sha!! be applied to the sums secured by this INortgage, • •,vith the excess, if any. paid to Borrower. In th~ event of a partial taking of the Pmperty, unl~ss ~arrower and Lender . otherwi~c ag~te ir ~vritinR. there shall be applied to the sums secured by this Mortgage such pnoportion of the pruceeds as is e~ual to that proportion which the am~unt of the sums sccured by this Morigagc" immediately peiar to th$ date uf taking bears to the fair ma~ket ~alue of the Property immediately prior to the date of taking, with tTie balance of the prxeeds paid t~ Borsower. z . If ths Prop~rty is abandoned by Borrower, or if, after notice by i.ender to Borrower ths; the~ conden:nar otY~rs io make ~ an award ar settle a claim :or damages, Borrower fails to respond to Lender within 30 days after the date su~h notice is mailed, Lender is authorized to coilect and apply the proce~ds, at L~~der's option, eithcr t~ restaration or repair of the Property or to the sums secured ~by this Mortgage. ~ Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not exttnd oe postpone the due date of the monthly instailments refcrred to in paragraphs t and 2 her~eof or change the amount of such installments. ~ ' - ~ ~ 10: Earro~rer 1Tot Rekssed. Extension of the time for paymeni o~ modiflzatian of amortization of the sums secured ~ by this Mortgage granted by Lender ta any successor in interest c±f Sorrower shall not oper~te to release, in any manne~. the Iiability of the original Borrower and Borrowe~'s successors in interest. i_ender shall not be requircd to commence ~ proceedings against such successor or refuse to estend .time for payment or otherwise modify amortization of. the surns - secured by this Morigage by rcason of a~y damand made by the original Borrower and Borrowa:-'s successors in interest. ll. Forbear~ncr by I.ender Not s Wsivcr. Any forhearance by I.ender in exercising any right or remedy hereunder. or otherwise aftorded by aF~!~cable law, shall not be a waiver of or preclude ~the exercise of any sucn right or remedy. . _ Titie proctirement of insurance or the payment of taxes or other liens or charges by I.ender shall not be a w;.iver of Lender's ~ right to accelerate the maturity of~the indebtedness sectired hy this Mortgage. . - 12. Remedies Catnelathe. All remedies provided in ~this Mortgage are distinct and cumulative to any ~ther right or ~ remedy t~nder this Mortgage or afforded hy law or equity, and may be exercised concurrently, independently or ss~ccessively. . ~ 13. 5uccaso~ and Assigas Bound; Jaint and Se~~ernl Lis~bility; Csptions. The covenants and agreements herein . ~ contained shall bind, and the rig~ts hereunder sha11 inure to, the respectave successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. Al) covenants and agreements of Borrower shall be joint and several. The captions and headings of ihe paragraphs of ~his Mortgage are for convenience only and are not t~ be used to interpret or define the provisions her~of. - ~ . 14. NMke. F.xcept fot any notice required under applicable law to be given in another manner, (a) any notice to ~ - ' Borruwer provided for in this Mortgage shall be g+ven by mailing such notice by certified mail address~.d to $orrower at the Property Address or at.such other address as ~orrower may designale by notice to 1.ender as provided herein, and ~ ~ (b) any notice to Lender shall be given by ~ertified mail, return receipt requestec~. to I.ender's address stated htreen or to - such other address as Lender may designate by notice tcs ~2orrower as provided herein. Any notice provided for in this Morigage_shall be desm~d .o have t~eea given to Borrowe~.or !_ender when given in the manner designa~.d herein. ' - 15. Unifon~t Mort~a~e; Governis~ ?arr; Ser~erability. This f~rm of morigage cortsbines uniform covenants for national eise and non-un;form covenants with lim~ted variatians by jurisdiction to constitute a uniform security instniment. c~vering real proQerty. '1'his '.4lortgage shall be governed hy the law of the jurisdiction in which the Proptrty is located. In the - event that any p:ovision or clause of this Mortgage or the Note conflicts with applicable law, such con8ict shatl not affect other pro~isiona of this Mortgage or the Note which can be given effect withotit the conflicting provision, s.nd to this end the provisions of the Morigage and the Note are dcclared to be severable. • ~ ~ . . 16. ~orrawer's Copy. Borrow•er shall be furnished a conformed copy of the Note and of this Mortgage at the titne ~ of execution or after re~.ordation hereof. ~ ~ Transfer of the Property; A~umption. tf a~l or any part of the Property or an interest therein is sold or tr~nsfened . _ by Borrorrer without Lender's prior written consent, excluding ta) t}~e creation of a lien or encumbr~nce subordinate to this Mortgage. (b) the c~eation of a purchase money security interest for houszhold appliances, (c) a transfer by deviae, ~ ; descent or by operatioo of law upon the death of a joint tenant or (d) the grant of a~y. feasehold interest nf ihree years or less not containing an optioh to p~rrchase, Lender may, at Lender's option, declare all tt~e sums secured by this Mortgage t~ be immediatety due and payable. Lender shall have waived such option to a~celerate if, prior to the sale pr transfer, I.ender and_ the person to tivhom the Prope~ty is to be sold or transferred reach agreement in writing that the credit of such p~tsan is satisf~ctory tu Lender and that the ir.terest payabl~r on the sums secured by this Mortgage shall be at sach rate as I.ender shali request. If Lender has waivecf the option tn accelerate provided in this paragraph 17, and if Borrower s successor in _ ~ interest has executed a written assumption agreemeM accepted in writing by Lender, Lender shall release Borrower from all - obligations under t~is Mortgage and the. Note. • ~ - If Lender exercises such option to accelerate, Lender shall mail Borro~~•er notice of acceleration in accordance wiih paragraph l4 hereof. Such notice shall provide a period of not Tess than 30 days from the @ate the Rotice is mailed within which Borrower may pay the sums dectared due. If BorroK~er fa':1s to pay si~ch sums prior to the expiration of such period, - Lender may, ~,~ithout_ further notice or ~mand on 13orrower, invoke any remedies permitteri by paragraph 18 hereof. ~ Nox-[iNiFOxtat Covet~~HTS. Borrower and Lender further covenant and agree as follaws: ~ 1~. Acc~ier,~ioe; Rcmedies. Except sis pro~ided in pars~rsph 17 hereaf, npon Derrowe~s bre~ch of aay coveosAt or sgreement o~ Eorrower fa ifii~ MortssEe, inciading the corrwasts to psy whsn dae ~sy snrns secw~ed bY tLis MArttsGe, I.eader prior to sccekcAtba sba~l mai! aotlce to l~onower is ~ovidrd in para~raph l4 hereof specifyio~: (Ij ti~e breack; (2) tM ~ction ~ r+eysirtd !o cnrc eacb bresc6; (3) a~e, not le~ thsin 30 days frot:~ the date tbe aotice i~ ~c+sikd to Eorroe~a, by w~iclr srcb i±cesch u~~st be c~red; asd (4) tb~ idi~rti to cnre sech bresc6 on or beEw+e ti~e dste s~eci6ed i~ t6e aotics ~sy radt ~i u accekr~io~ ot tie s~s secorrd 6y t6i~ Mort~t, forecbwr+e by j+adkial pmceedtat aed saie of tye Pnuperty. '~Le ~te ~ si~ furti~c i~form Earraaer ot tbe r~ht to n~asbte dfer sce~tler~tioa aad tl~e ritht io a~rt i~ t~e ~orerios~ry procc~L ~ ~ the ac?n-e~cisttuce of n dtf~ or aoy atber defc~e of Botrower to ~ccelrratioa sed forecbsrre. I f ibe 1~+ e a c h i s a o t c~ e d oa ~ or bdore t~e dste specefi~d in t~e notke~ I.eade~'t Le~der's optbn may declme a~ of tb~ se~ms secued by tl~r Mart~i~e ta be ~ i~pu~edi~tdy dde aad payabie witfio~t fnrtber demaad snd may forccbse tbts Mortt~6~ ~'Y 3~~ PK"a~E. Le~der slu~ ~ bie eetlded to colkct ie a~cM procading ait e:peases of foreclas~rr, L~clu~e~, but aot ~mNed to, re~eoesbk attor~~'s fees, aud cods of docaa~entary evl3edce, ab6tracts ~ad titk repo+rts. ; 19. D~orrawe~s Ri*bt to Re~etate. IJoiwithstanding Len~er s acceleration of the sums secured by this Mottgage, ' Borrower shall have. the right to have any proceedings t~egun by T_ender tc? enforce this M~rtg~ge discontinued at any time ' ~Q~ t~. ~ tl~~l! ~ . j ~ - - ~ _ - . _ ~