|
<br />~._----------~---,. ._, --.-"
<br />
<br />83- UU17{)'."
<br />, , 0 h
<br />Lender's wriuen agreement or applicable law, Borrower shall pay Ihe amounl of all mongage Insurance premiums In I e
<br />manner provided under pa,agraph 2 hereof. . . , .
<br />Any amounts disbursed by Lender pursuant 10 this paragraph 7, with lnlere~t thereon. shaH become additional
<br />indebtedness of Borrower secured bv this Mort~age" Unless BC\rrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notic~ from Lcnder to Borrowcr reque~ting payment thereof. and ~hall bear interest from the
<br />dale of disbursement at Ihe rate payable from time to time on ontstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable taw. in which even! sllch amountc; 'ihall bear intere!\.t at the highest rate.
<br />pcrmissihle 'llnder arplicablc law, Nothing contained in this para!!raph 7 ..hall require Lender to incur any expense or take
<br />:my action hereunder. _ .. ,
<br />8. Impeclion. l.ender may make or calise to he made rea~onahlc cntrll~' lIpon ~lnd m'\pectlon~ of the Property. prOVided
<br />thai Lender shall give Borrower notice prior [0 any 'i,(I(;h inl:opccr;on c:.pccifying rcasonahlc cause therefor related to Lender.!!
<br />interest in the Properly.
<br />. 9. Condemnation. The procccd'\ of any a\l..'nrd Of claim for damages. direct or com,equcntial. in connection with any
<br />condemn::Jtion or other l::Jking of the Property, nr part thereof. or for conveyance in lieu of condemnation. are hereby assigned
<br />and sh~1I be paid to Lender,
<br />Tn the event of a tNal taking of the Properly. the ('wcccds ...hall he applied to the sums secured by this Mortgage.
<br />with the exccss. if any. paid t("1 Rornw"l~r, In thc cvcnt (If ;t rartial taking of the Property. unless Borrower and T.ender
<br />orhcrwisc agree in writing. there shafl he applied !O the "'!lm... \ccurcd hy this t\.1ortgage such propqrtion of the proceeds
<br />as is equal to that propi'lrticlO which Ihe amount of (he "lHn... "<-,cured hy this ~fortgagc immediately prior- to the date of
<br />taking bears to (he fair marker valuc (If the Property immcdialdy prior to the date of taking. with the balance of the proceeds
<br />paid to Borrower,
<br />If the Property is ahandoned hy Borro\\'er. or if. after notice hy Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages. Borr0wer fails III rcsp\lOd to I,cnrler within 30 days after the date such notice is
<br />mailed. Lender is al.lthoriz~d to collect and apply the prcxccds. at T ender's option. either to restoration or repair of the
<br />Property or to the sums secured hy this ~,f(lrfga~e_
<br />Unless Lender and Borrower olhl'fwisc agree in writing. :1m. "LKh application of proceeds to principal shan not extend
<br />or po...tpt....ne the due date (tf the monthly installments rC'fl'rrcd !("l in paru!!raph'\ I and 2 hereof or change the amount of
<br />...uch installments.
<br />10. Borro"'("r Not Released. E....tensinn ('( the timt' I('r jU\ lilent or m0dification of amortization of the slims secured
<br />hey this M~'rt~a~c gr;mtcd l1y Lender hl an\- ,U..:\:L'",\\}r III intl" .f (\f Rprro\\'cr "hall not operate to release. in any manner,
<br />lhe liJhililY tlf the ,-,riginal Borrower and R~'rnlWl'f', ~lI..-'~'l.' I... 111 inlCn~Sf. I.ender "hall not he required to commence
<br />proceeding.s against stich successor (If '-dusc to extcnd tili:t' I\r payment (lr Olherwisc modify amonization of the sums
<br />"c~ured h\' this ?\1or1eage h\' reason {'f ;\Il\" demand maut: h\ !hc nri!:!inal Borrower ;md Borrower's successors in interest.
<br />11. 'Forbearanc; by I~nder Not :t 'V~h.cr. An\' forht.';lf.Uh..-I..' b\" i 1..'lHta in c'\crci'\ing any right or remedy hereunder, or
<br />\11hcrwi~\.' afforded by applicahlc law. ...hall lWI hl' ,I wal\el" l,f \'r prCI....llIdc the ('xcrcise of any such right or'remedy.
<br />TIle procurement of insurance or Ihe panncllt of ta\t.'''' \\1" 1\lha lrCI1'\ (lr \.:haq::t.'s hy I.ender "hall not be a waiver of I.ender's
<br />right Il' ;lc~t:k-ratc the malllril\' ('f thC' indcbh...dn1....... .....'curcd h, Ihi... Mtlrt~a~l'
<br />12. Rt'ml"dies Cumul.,i":...... All rC1l\C'tlil's phnidl'd 111 1111'" ~hlrt~;I~l" ;IIT di'qind amI cumulative 10 any nther right or
<br />r~mcdy under this Mortgage ('Ir atTnrdcd lw law \'1" l'4U11\ _lIld 1ll,1\' "t.' l.'\erL'I\\.'d l'(lncurrcntly, independently or successively_
<br />13, Successors and As..tiie.ns Bound: Juint and St.'H'r:" I.iability: ('aplions. The C(Wcnants and agreements herein
<br />1.....\lllaincd shall hind. and the righls hcrl'lll1d~ ...h;l1l1l11111.' ill, Ih\..' f'l''''Pl.'\."li\T ..1ll"l:C'.....t\rs and ~lssigns of Lender and Borrower,
<br />"ubjcct 10 the pro\'isiQns of pafi.lgraph t 7 11I..'I'I..'\lj \11 ,:lH't.'lI.lIIts ,lIld ;lgrl't.'mcnh of Borrower shall be joint and several.
<br />The captions and heading!\. of the paragraph... l,r thi" ~I,lrtg"g\.' arl..' (I'r convcnicnce only and are not to be ll~cd to
<br />intcrrret or define the provisions hcrct."lf.
<br />14. No.icr-. Except for any nOlice reqtlift,'d under ,lpplic;lhlc la\\. hl be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgagl' shall hc ~I\'cn l-1y mailing loIul.:h nOlice by certified mail addressed to Borrower at
<br />the Property Address or at such other :Iddrc..., .IS Bl"lrrp\\'I..'r Illil\' dCloIignalc fly Ilt"'ltke to I.ender as provided herein, and
<br />(h) any noti~c tt) Lcnd.:r shall he ~i\t.'n hy I..'crtificll tll;llJ. reI tlfll rl'cclpl n:qucstcd. to I.ender's addrcs.1i stated herein or to
<br />such olher address as Lender may tlc..i!!natC' '"'y notil..'c {I\ HllITI\V.'cr as pn.widcd herein. Any notice provided for in this
<br />~1(lrtgagc shall he deemed to h:l\-"C ~Ct.'n ~~t\l'n to Bl\rrln\.I..'r l" I cnda when given in the manner designated herein.
<br />I!'. l_lnifuFml\fortgage; Go"'ernin~ I.a": St."l'fahili1~. I hi.. ("flll \If nhlrtgage combines uniform covenants for national
<br />lIse and non-uniform covenants with Iimilt'l..l vaflau~'ns by juri.....fh:tion to constitute a uniform sccurilY instrument covering
<br />real properly. This Mortgage sh:,1I hI.' gn\I.'rnnl h\' the b\\. III the juri~diction in which the Property is located. In the
<br />event th.1t any pn.wision or clau;..l.' nl thl'" Mi,'rt~~l.!-~ \'1' thl' ~\lle L'llnfiict" \-I, ith applicahle law. ~llch con met shall not affect
<br />other pn.)\'lsions of this l\1ortg;\gc llr lilt.' Nlltc \\.Illl."h ..,w hI: !!"-cn dfC'Cl \\'ilh('lut the contlicling provisiun, and to this
<br />end Ihe pro\'i!\ions of the ~f(lrtgagc and the NOle are d\.'l.'larctl tp he '\cverable.
<br />16, Bono"'er's COP)'. Borro\\I,'r shall be fllrni...hcd .1 I..-,'nh'rmcd Cl'PY of the Note and (If this Mortgage at the time
<br />i,'f exc~ution or after rCi:ordation hercof.
<br />17, Transfer of the Property: A~sumplion. If all nr any pari ('f .he Property or an intereSllherein is sold or tran.ferred
<br />hy Borrow('r without Lender's prior writtcn 'on~ent. I..'\duding t;t) the 1.:~;Hion of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a pun:hasc nll\llCY "'I..'l.."llrit\ interl.'st for household appliances. (c) a transfer by devise,
<br />descent or hy operation of law UP(\O the death i"f a -'\HIlI 1t.'n.lIlt t\r hllthc panl of an)' leasehold interest of Ihree years or less
<br />nOI containing an option to purchase, I.t.'mlcr may. ;11 1.1...11dl'l.... opti(\Il. dc,,:huc all the sums secured hy this Mortgage to be
<br />immcuiatcly due and payable. tender sh~IH h,l\c \\,u\"\.'d "lI~h opt'on h\ accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is 10 be sold or transferrcd reach :Igreemcnt in writing that the credit of such person
<br />is salisfaCh.lT)' 10 Lender and that the inlere..t p..iyahlc t'll the "UIll-.. sccured h)" thi~ Mortgage shall he at such rate as Lender
<br />shall request. If l.ender has waived the opti\)n h) .1Ccdcr..\le pnwiuct.! in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement acccpted in writing hy lender. Lender shall release Borrower from all
<br />obligations under Ihis Mortgage and lhe NOle,
<br />If Lender exercises such option ft."l accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />para~raph 14 hereof, Such notice shall pwvide " period of nol less than 30 days from lhe date the nolice is mailed wilhin
<br />\..-hich Borrower may pay the sums declared due. If Born'\\cr f;tils h) pay sm:h sums prior to the expiration of such period,
<br />lender may. without further notice or demand 011 OQrro\\cr, in\"o~c ,any remedies permitted by paragraph 18 hereof.
<br />
<br />NON.UNIFORM COVENANTS. Borro\\"cr anu Lender further l.:o\'cnant and agree as follows:
<br />18. Ac<<leratloa; Ite_di... Except as pro\'lded In 1"""l:fl.ph 17 hereof. upon Borrower's breaeh of any covenanl or
<br />acreementof Borrower in lhis Morla...e. indudiRll Ib,' ,',nena..ls In pay ..:'en due any sums secured by Ihls MortK"lle,
<br />Le....er prior I",,"eleratloa. slIa1I mall nolke 10 Oorro..er as pro,ided in par"llraph 14 hereof spedfYina: U) Ihe breach:
<br />(Z) theacl~,re'luired loeu.. sucb .....lOCh; (3) a dale. ....lle..s than 30 day~ froA' Ibe dale the nolice Is .....ned 10 Borrower,
<br />by' whith sllCll.....ach _he cured; aod(4) Ibal failure 10 cure surh breach on or before lhe dale sperlfied in lbe notlre
<br />....,.. rKllll, ill _a,(ce1eratioR of tbe SUI"~ s4:chll'd b" .hilii. ~lnl'':MJ:~, rOIl.dosure b" judh.:ial proc4'edinK and sa"~ of the- Property,
<br />'raw, nol~e ~"'JJJIlJt~r-inl'_"'I;-_-BQnuw(,-f of UK' dab. t.... ..cin~tate af.C'r aCf:elf:'l1Iiliun und the rixht .0 a.~crt in the rorel'k.sure
<br />prll<<(1dlo&lbe ~.lote~e of a ddaull or auy olber ..d.n"" of Oum,".r In acc.leration ....d for.d.~sure. If lbe h,each
<br />Is not Cllred on or befo.. tbedat".,...,ified in the nolic., tender al !....der.s oplion n.ay dedare all of the SUIIlS serured by
<br />Ihkl\1ol1Ne to bci...~dy due and payable wilh",.. fu"ber deRla..d and RIll) fored_ by i..dldal p""'<tedl.... I,ender
<br />SIu!It he entltl"J! 10 coll<<I lA s...,h pros:~l... all ulW""" of fur<<lo...r.. lndudl..., but nol limited to, colt. of documenlary
<br />e'!dellee. aIloIrlOCb alld. Iltle .."'....
<br />t,. ~"'d. .....' to RtiM&a~. Nt)t"ith~(andll1t: I.cndl.:r's -tl\:,dcratiHn t~r the ~ums sCi.:ured hy this Mortg;'igC.
<br />Ht)rro\\-cr shaH have the tight h.1 ha\;'C any pf\--';-j,'\.'din~~ hq~un hy I t.."ndcr h) t.'Uft.)h.:c..:: lh,\ Mt,rtgagc di\..:ontlO~~cd 011 an~' tHnl...~
<br />
<br />t
<br />
<br />
|