|
�
<br /> � �
<br /> 7g--� ii C) � i 4 .1
<br /> L.ender's written agrcement or applicable law. Borrower st�atl pay the amount of all mortgage insurarsce premiums in the
<br /> manaer pYovided under paragraph 2 hereof.
<br /> i Any amounts disburoed by Lender pursuant to this paragraph 7, with interest thereon, shall become additionai *,:,
<br /> 9 indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lrnder agree to other terms of payment, such i .
<br /> r3 amounts ahall bepayable upon notice from Lender to Borrower requesting payment thereof, and s6a11 bear interest from the x �
<br /> � � date of disburxmenC at the rate payable from time to time on outstanding ptincipal under the Note unless paycuent of C`; '
<br /> interest at auch rate would be contrary ro applicable law, in which event such amounts shall bear interest at the highest rate ;, ,
<br /> ; permisai"ble under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take ! ;`
<br /> Q any action hereunder. �- , '
<br /> e 8. Inspectiop. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided ;
<br /> '• that F.ender shall give Borrower notice prior to any such inspection specifying nasonable cause therefor related to Lender's
<br /> ? interest in the Property. E
<br /> � 9. CondemnaHon. The proceeds oE any award or daim for damages, diroct or consequential, in connection with any t ,
<br /> condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> � . and slfall be paid to Lender.
<br /> 3 In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage. �� '
<br /> # with !he excess, if any, paid to Borrower. Tn the event of a partial taking of the Property, unless Borrower and Lender '
<br /> ; otherwise agrce in writing, there s6ati 6e 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 ro the date of r, :
<br /> } taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds P.
<br /> paid to Borrower. {„
<br /> " Ff the Property is abandoned by Horcower. or if, after notice by Lender to Borcower that the eondemnor offers to make i ' `
<br /> � an award or settle a claim for damages, Borrower faits to respond to Lender within 30 days after the date such notice is �
<br /> ! mailed, Lender is auttioriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of the {
<br /> � Properly or to the sums secured by this Mortgage. }: ' '
<br /> ' Unless Lender and Borrower otherwise agree in writing, nny such application of proceeds to principal shall not extend
<br /> � or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of ��
<br /> ; such installments. 1t
<br /> Z10. Borrower Not Relensed. Extension of the time for payment or modification of amortization of the sums secured �
<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 BorrowePs successors in interest. Lender shall not be required to commence �'.
<br /> � proceedings against such successor or refuse to extend time for payment or othenvise modify amonization of the sums �:
<br /> � secured by this Mortgage by reason of any demand made by the original Borrower a�d Borcower's successors in irterest. 4 . , ,
<br /> + 11. Forbearsnce by Lender Not a Waivea Any forbearance by Lender in exercising any right or remedy hereunder, or �j
<br /> � otherwise afforded by applicable law, shall not be a waiver of or prectude the exercise of any such right or remedy. �
<br /> { The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's �,
<br /> � right to accelerate the maturity of the indebtedness secumd by this Mortgage. �
<br /> � 12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or ;
<br /> j rcmedy under this Mortgage or afforded by law or equity, and may be exercised concurrenUy, independently or successively_ '
<br /> t 13. Saccessors and Aseigns Bound; Joint and Several I.ia6tlity; CapHonv. The covenants and agreements heroin �
<br /> � ' contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, '
<br /> a subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and severeL �
<br /> � 'I�e captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> � interpret or deflne the provisions hereof. '
<br /> i4. Notice. Except for any notice required under applicable law to be given in another manneq (a) any notice to `
<br /> Borrower provided for in this Mortgage shall be given by rnailing such notice by certi8ed mail addressed to Borrower at ;
<br /> ( the Praperty Address or at such other address as Sorrower may designate by notice to Lender as provided hereia, and � ',
<br /> � (b) acry notice to Lender shall be given by certified mail, retum receipt requested. to Lender's address stated herein or to 4
<br /> such other addrcss as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. ;
<br /> � 13. Uniform Morlgage; Govemiag Law; Severa6fltty. "This form of mortgage combines uniform covenants for national �
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> r+eal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> q evrnt that any provision or claux of this Mortgage or the Note conflicts with applicable Iaw, such conflict shall not affeM
<br /> 3 other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> end the provisions of the Mortgage and the Note aro declared to be severable.
<br /> . � 16. Borror►er's Copy. Borrower shall be furnished a conformed copy of ihe Note and of this Mortgage at the time
<br /> of execution or after recordadon hereof.
<br /> � 17. Tramfer oE the Propecty; Aseump8on. If all or any part of the Pmperty or an interest thenin is sold or transEeaed
<br /> by Borrower without Lender's prior written consent, ezcluding (a) the creation of a lien or encumbrahce subordinate to
<br /> � this Mortgage, (b) the croation of a purchase money securiry interest for household appliances, (c) a transfer by devise,
<br /> � descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intemst of thm years or less
<br /> not containing an option to purchaae, Lender may, at Lendeis option, declare all the sums secured by this Mortgage to be
<br /> ♦i immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, I.ender
<br /> � and the person to whom the Property is to be sold or transferred reach agrcement in writing that the credit of such pecson
<br /> is aatisfactory to Leoder and that the intecest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall reqaest. lf Lender has waived the option to accelerate provided in this paragraph l7, and if Borrower's successor in
<br /> ; iaterest has executed a writtrn assumption agreement accepted in writing by Lender. Lender shall ralease Bonower froxn all
<br /> i obligationa under this Mortgage and the Note.
<br /> If Lender exercises such option to accelerate. Lender shall mail Borcower notice of acceleration in accordance with
<br /> ` � paragraph 14 heceo� Sueh notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br /> which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> Lender may, without fuRher notice or demaod on Borrower, invoke any remedies permiaed by paragraph 18 hereof.
<br /> � , Notv-Uxtront`t Cove�uwxTs. Borrower and Lender further covenant and agree as follows:
<br /> � 18. Acceleratioa� Remedles. Fscept as provided in pacaqnph 17 hereof, upoo Borrower's brocA ot any covenant or
<br /> ` s�reement of Borrower in thb Morlgage, includiug the covenants fo pay when doe any anms securcd by thb Mortgage, f
<br /> Leoder prbr to acceleealion ahall maa notice to Horrower as provided tn paragraph 14 hereof specifying: (1) the breach; �; ,
<br /> _, (� t6e act(on reqoired to cnre snch breuh; (3) a date, not teat than 30 daya from fbe date tbe nodc� Ls malled to Borrot�er, ., �.._...:.
<br /> by w6ich mch 6eeac6 moet 6e cared; aad {4) 16at hilure to cure such breac6 oa or beforc the dst� spectlied in the notice ,�t
<br /> ;� may ersui! In accderallon, of the snms secured by this MorlgaAe, foreclosure by jadiclal proceedi� �d sale of tlro Property. :
<br /> ,;� ;1Ln aodee.s6aD fnrt6er i�ocm Borrower ot the rlgbt to reiostate after acceleration and t6e right to acsert io the forecloauro ;r ,'.;:.
<br /> ;, , proceedine the aon-ezisfeace.of a default or any otlrcr de(eose of Borrower to accelention and fonclosore. If the bresch � "'
<br /> t:'. ip not �cneed"on.or bdore the dafe apeei8ed �n t6e ootice, Leoder at Lender's option may declsrc all o[ the snms secored 6y �'" ?
<br /> - 'this Motf�a`e to be immediatdy doe and payable wifhout turlher demand and may foreclose by judicld proeeedi�. I.mder d ',� :. `+
<br /> , ' � ih�D 6� mtlfkd Io coBect In s�6 proceediag'alI expeaw of foreclosure, Including, bot �wt limked to, COBfB OE aOCOIOlO{�ry .F � + '. ,.
<br /> e�Ideoce�abd�ch and Utle repo�r. ;�: � ?s,e
<br /> " . ' 19:: Borrow�s RI`Lt:to Reimtate. Notwit6standing Lender's acceleration of th� suma secured by this Mortgage.
<br /> � � Horrower ahall bave the iight to have any p+nceedings begun by Lender to mforce this Mortgage discontinued at any time
<br /> , ,
<br /> ; ,
<br /> . ; J
<br /> ,
<br />�
<br />
|