|
�
<br /> r- �
<br /> Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner provided under pua�raph 2 6ereof.
<br /> Any amounts disbursed by Lcnder purcuant to this paragraph 7, with interest thereon , shali become additional
<br /> indebtedness of Borrower securod by this Mortgaga Unless Borrower and Lender agree to other �erms of payment, sucfi
<br /> � amounts shall be payabk upon notice from Lender to Borcower requesting payment thereof, and shall bear interest from the I
<br /> � � date of disbursement at the nte payablt from time to time on outstanding principal under the Note unless payment of
<br /> � iaterest at such nte would be contnry to applicable law, in which event such amounts shall bear interest at the hi�hest ratt
<br /> jL permissiblc under appiicabie law. Nothiny contained in this paragraph 7 shall rcquirc Gender to incur any ezpense or take
<br /> Cj any ution henuader.
<br /> � t. iarpectlo�. Lender may ma�e or cause to be made reasonable entries upon and inspeMions of the Property, provided
<br /> � that L.ender shall give Borrower notice prior to any such inspection specifying reasonabk cause therefor related to Lender's
<br /> 1� interest in the Property.
<br /> (� 9• CandemuMoa. 7"he proceeds of any award or claim for damages, direct or consequential, in conoection with any
<br /> condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereMy assigned
<br /> and shall be paid to C.ender.
<br /> In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borrowec In the event of a partial taking of the Property, unless Borrower and I.ender
<br /> otherwise agrce in writing, therc shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior �o the date of
<br /> taking bears to the fair market value of the Property immediately prior to the date of taking, wiih the balance of the proceeds
<br /> paid to Borrower.
<br /> If [he Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offen to mslce
<br /> an award or setNe a claim for damages, Borrower fails to responJ to Lender within 30 days after the date such notice is
<br /> mailed, L.ender is authorimd to collec[ and apply the prceeeds, at I..endcr's option, either to restoration or repair of the
<br /> Property or to the sums secured by this Mortgage.
<br /> Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly installments referred to in paragraphs I and 2 hercof or change the amoimt of
<br /> such installments.
<br /> 16. domower Not Releaced. Extension of the time for payment or modification of amortization of the sums securcd
<br /> by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner.
<br /> the liability of the original Borrower and Borrower'c successurs in interest . Lender shall nnt tx required to commence
<br /> praceedings against such successor or refuse to excend time fc.r payment or otherwise modify amortization of the :ums
<br /> secured by this Mortgage by rcason of any demend made by tfie original Bormwer and Burrower's successors in interest .
<br /> 11. Forreara�ce Yy L.e�der Not a Waiver. Any forhearance by i .rnder in exercising any right or remedy hereunder, or
<br /> otherwise afforded by applicable law, sha❑ not he a waiver of or preclude the exercise of any such right or remedy.
<br /> Tl�e procurement of insurance ot the paymenl of taxes or other liens or charges by I.endcr chall not be a waiver of I.ender's
<br /> right to accelerate the maturity of the indebtednecs .ecumd hy thi. Mortgage.
<br /> 12. Ae�sedfes Cu�uhNve. All rcmedies provided in this Mongage are distinct and cumulative to any other right or
<br /> rcmedy under this Mortgage or aHorded by law or equity, and may 1+e exercised concurrently , independentty or successively _
<br /> 13. Sreceworr ad Ard`as Eound; Janl anA Severd LL61Nty; Captloxe. 71�e rovenants and agreements herein
<br /> contained shall bind, and the rights hereunder shall inure to, the rcspective succecsors and assigns of l.ender and Borrower.
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall tx joint •and sevewl .
<br /> The captions and headings of the paragraphs of this Mortgage are for convenience only and arc not to be used to
<br /> interpret or deBne the provisions hereof.
<br /> 1�. NWiee. Except for any notice required under applicable law to be given in another manner. (a) any notice to
<br /> Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addresxd �u Borrower at
<br /> the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br /> (b) any notice to Lender shall be given by certiRed mail , rewm receipt requested, to Lender's address stated hercin or to
<br /> sueh other addrccs as Lender may designate by noticn to Bormwer ac provided herein Any nolice provided for in this
<br /> Mortgage shall be deemed to have been given to Bormwer or I .ender when given in the manner designated hercin.
<br /> 15. U�Nerm Mo��e; Governlw< Law; Severabilitv. "Tl�is (orm of mortgage combines uniform covemnts for national
<br /> use and non-uniform covenants with limited variations by jurisdiction to constiwce a uniform securiry instroment covering
<br /> real property. This Mortgage shall be governed by the law of the juriadiction in which the Property is located. In the
<br /> event th•at any provision or clause of this Mortgage or the Nuie conflic�s with applicable law, such cnnflict shall nM a/fect
<br /> other provisions of this Mongage or the Note which can br given elfiect without the conflicting provision , and to this
<br /> end the provisions of the Mortgage and the Note ere declared [o be severable.
<br /> 1�. forrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of exuu[ion or after recordation hercof.
<br /> 17. Tnsder ot tYe Pro�eety; Aoeue�oHon. If all or any pxrt of the Property or an interest thercin is sold or transferred
<br /> by Borrower without Lender's prior written consent . excluding (al the crcation of a lim or encumbrance sutwrdinate to
<br /> this Mort�a (b) the creation of a purchau money security interest for household appliances, (cl a transfer by device,
<br /> descent or by operation of law upon the dea[h of a joint [enant or ldl the grant of any leasehold intercet of threr years or Itss
<br /> not containing an option to purchase, Lender may, at Lender's option . declare all �he sums secured by thie Mortgrge to tre
<br /> immediately due and payrble. Lender shall have waived such option to accelerate if, prior to the sale or transfer, l.ender
<br /> and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such persnn
<br /> is satiafactory to [.ender and that the interest payab�e on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall requect. /f I.ender has waived the option to accelerate provided in this parygraph 17, and if Bortower's successor in
<br /> interest has executed a written assumptioo agreement accepted in writinQ by Lencier. Lender shall release Borrower from all
<br /> obli�ations under thie Mortgaee and the Note.
<br /> if Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br /> par�nph 14 Mereof. Such notice shall provide a period of na Iess than 30 days from the date tMe notice is mailed within
<br /> which Bo[rvwer may pay the sums declared dut. If Borrower (ails io pay such sums prior to the expiration of such period.
<br /> Lender may, without further notice or demand on Borrower. � nvoke any remedies permitted by paraeraph t R hereof.
<br /> Now-Ut+�ro���.t CoveN�Nrs. Borrower and t ender (urther crnenant and egrce as follows :
<br /> IR AaeienfiN; Re�eAies. F.ice�t ar proviieJ M p�r�raN 17 kroe(. u/e� iearewer'e MeacY af aey cave�ut or
<br /> a�eeeeeat of iorrowor in tldc Mo��e, tacludiw� Hie covewawts to 'ay w6en due rwy c�me cecu�a�d by thir Mortsa�e.
<br /> I.a�ier �ier t� �ccekratlo� rYdl �fY wotice b �e��rer ac provided i� �ra�h II Yeroaf qecityi�: / l) tre Me�c�:
<br /> (� ttie xY� re�4e/ M c�e wci rreae5: l3) s d�e. wt le�c t�u J� A�yc fror /re Mee Me ��e is yiled N Mersw�er. � .
<br /> �y wik� r�eY MercA �rut ie e�re� � l4) lrat fallrre b cwe wc\ MeacY u� or Yef�oee tie 4re �fied i� tYe Wk�e ^�
<br /> ��y raNt i� �ler�tla� ot /rt ��s reewea ry IMis Maelp�e. ferecio�we �y jWicid �roeeeY� u� de d !re !�e*e�ty. .
<br /> TYe �W4e �v fwlrer itr� iorhwar of IYe �Yt b rehrfale aNer �oeler�tfo� awi �e ri�Yt ts are�1 b tk f�roclar�re ` `"` ,
<br /> .n.e..il„I Ire .....,d.�e.ae d . �efarY �r ay .�Yer kfere ef .n.rs.aer N rccekr.Ms. ... t..ecla.w�e. H IYe 6reaeY J - .
<br /> h �t e�ni e� ar Yet�e tYe I�Re �et� i� IYe �eMee. l.erier N I.e�'s e�tls� wuy iecl�re ar of ltie rr�e �eawroi �y p;�
<br /> iW 1NM1/ye M Ye I�edi�hly �e a�i pya6le wlliwrt fuAYer �eor� a� �ry fe�e��io�e iy jr�icW prooee�i�. I.e�ier
<br /> ii M e�Wle� N ediset i� wcY �erce�Y� aY e:�e� �f h�eelwrre. �eir�i�, Yw aN Ii�Ye� M, c�rts of Iea��eMary
<br /> �vl�erce, aielracic or/ tltle spw4.
<br /> 1!. �Mrw�er's R�Yt M Se1r1Ye. NotwNhrtandin� I_ender'c acttienuon of the sumc secured by this MortQage, �
<br /> Horrow�er fhall bave the ris6t t0 have aay proceedin`s besun by l .ender to enforce this Morcyx�e discontinued at any hme
<br /> �
<br /> a
<br />
|