|
~ "--- oo~~r~
<br />Lentkrt wxut~n agreement or applicable law. Hormwer shall pay the amount of all mortgage insurance premiums in the
<br />manner provadcJ under paragraph 2 hereof.
<br />Ptny amounts disbursed by i_ender pursaant to this paragraph 7, with interest thereon, shall become additional
<br />indeMedness of Borrower secured by this Mortgage. i_`nfess Borrower and Lender agree ro other terms of payment, such
<br />umamts shad tae payable upon notice from Lander to Borrower requesting payment thereof. and shall bear interest from the
<br />date of disburstmens at the rate payable from rime to time nn outstanding principa! under the Note unless payment of
<br />inrerCSi at such rate would be contrary to applicable law. fn which event such amounts shad bear interest at the highest rate
<br />permissible under applicable Ian-. Nothing contained in this paragraph 7 shall require Lender to incur arty expense or take
<br />any action hereunder.
<br />8. Inspection, Lander may make orcause ro ba made reasonable entries upon and inspections of the-Property, provided
<br />that Lender shall give Barrowcr notice prior ro any such inspection specifying reasonable cause therefor related to Lender's
<br />intzrast in slit Property.
<br />9. Condemnation. The prsxceds of any award or claim for' damages. direct or consequential. in connection with any
<br />candemnstinra nr other taking of the Property..?r part thereof. ar for conveyance in lieu of condemnation, are hereby assigned
<br />anti shalt he paid [o #..ender.
<br />in the event of a tares taking of tfie Property. the prc><~eds shah be applied to the sums serared by this Mortgage.
<br />•.warh the axce<s if env, nerd to Rarrawer. In the event of a partial taking of the Prtaperiy, unless Borrower and Lender
<br />orhrrevise agree in writing. there shalt he applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is egtui ro that nrmpnttinn which the amavnt of the Bums secured by this Aiortgage immediately prior to the date of
<br />taking bears to the fair market table of the Prapem• immedi:uch• prior to the date of taking. with the ba}ance of the proceeds
<br />paid to Borrower.
<br />If the Prepeny i; ahandnneJ by Borrower, ur if. after notice by Lender to Borrower that the condemnor often [o make
<br />.rn award or settle a claim for damages. Borrower fails to resixmd to [ender within 30 days after the data such notitt is
<br />malted. I_endcr is authorized ra collect and apply the proceeds, at S,znders option, either [a restoration M repair of flit
<br />Properly ar to the sums secured by this ~Scartgage
<br />L Hies. Lender and Barrawar atherw;sr agree in writing. any such application of prtaceeds to principal shall not extend
<br />nr pastpnne the due dace of the mnrthly irstaltments referred to in paragraphs i and ^ hereof or change the amount of
<br />such anstalfinenis.
<br />t0. Borrower Not Released. Fscens!en ,~t the tune far p;rymrnt or modification of amortization of the sums secured
<br />try this Martgagz granted by i.tnct,=r tea acv su~cc;,u±r rn interest oaf Bt=mower shah not operate to release, in any manner.
<br />the hahitizy of the artgmal earraw•tr and Barrawrr't s;rccessars :n interest Lander shat] not he required [o commence
<br />~erdings agasttst such suktssor r,r refuse to extend nine far payment Or otherwise modify amortization of the sums
<br />eacetr~•d by this Mortgage by reae.an a( :ins demand made hr' rfie orivinai Rarmwer and Borrower's successors in interest.
<br />t 1. Forbearance by Leader Nrx s N"elver. A nv f,~rMcaranec t±v Lender in excrcis3ng env right ar remedy hereunder, or
<br />,uherwrsc »t&~rdad by apphcalsiz 'aw staai{ n,+t he a waiver r,f or preclude the zxercise of any such tight or remedy.
<br />T"hz procurement of insurance .*r the pavrnent :~t t: xes qtr ~vher Bens ,~r ~hargcs h~• 1_endar shah oat be n waiver of Lender's
<br />rtght m arc..°ierata slit mat urns z:F the aauehtcdnrss ..cured D~ the; ~jttrtgage-
<br />iS- Remedies Cumutatiaa AH remntres ~•,rrn.-~ded ,n tttc htortt.-agz sre distinct and cnmufative to ant other right ar
<br />remede° sndcr slits Mnnaagc e; afforded f:' !av. of eatan~ .end mar t+r a,rrc~sed n,ne,urrently- indeprndent!}° 4r successively.
<br />17. Surceswrs and Ass~tt5 &mnd: .hint and Several Liability: Captinrw The covenants and agreements herein
<br />contatned shalt bira#, :,rid the rights hsars;cnder start! .otter to_ the rc~pactavz stwccssars and assigns of Lender and Borrower,
<br />s4bjcet ro t?n: pea is;ons of par;<graph I' hers=f -#lf eavc:rarrs anJ aGreemetxts at Borrower sh-atl be join and several
<br />'1?xr captions and haad;ngs of t?ta graras;rstrh.:+F thix Aiezrtgaga ale ft,r onvrnience eniv and are not to tae ttstd io
<br />irrtarpret ar define rtu pratesions eerani
<br />IJ. N4tke. Except for arty ncurca rrqu:red under ;tppticabtc law i.a be given in anazher manner. ta) any native- to
<br />Borrower prov;ded Sot .n a'.-cis Sittngag-c shall to g«rn n>~ ntar;ing such rtoucr. 4ay ccrtifred m~ai# addressed to Borrower at
<br />tits Propety .Address .~r as sst•~h other address ;as Barr,+;.cr ens. dauenata by rtcxice sa Lender as provided herein, and
<br />fbi any nonce to Lander that; !,e y,as-en bs tertrrrcd saaet. retain reectt'r ;ezjua,+tad. %cr Lander': address stated herein or to
<br />such other addtcas xs Gender mac z#+rstgnate bs~ nuti~e t,~ Bcrrawrr as pravidad tarrein. Any notice provided far in this
<br />Mortgage shalt k+r deemed to ha+r barn go-rn t+: Bern-wrr or t ender ~xhen given in the manner designated fierein.
<br />15. C'-urfortn 3tartsagr; Ga trnittg Law; Stvrra6itity. T'ttss farm of mortgage combines uniform revenants for natioaai
<br />rase and eon-u4ifertn covenants with iimitzd ,arEatrons by xa~r.sd+rrion u+ cnnst:ntta a untform security instrument covering
<br />real property. lltis s4ortc:age shall t+c gnv~rned by xl;r law :d ttty iurisdienan In wtaieh the Property is totaled, fn slit
<br />rvNti that any prows:on er ctattsr of rh,n Mcuigage c,r thz. >»te r«nfiic'ts a-isle aapiiesbte taw, stash ton8irt shall not affctx
<br />other prnv:sions of slits Mortgage er the >ate which trio t+a rzn effect witfiaut ttae conflicting provision. and to this
<br />end the provision=_ of the Mortgage and the Prue arc ttcclarrd 4+ h^ sevarahie.
<br />16. Borrower`s Cape. Betz, wee chalk be fEtrrushzd a .~,ntcrrmzd .spy of tFte Note and of than Mortgage at the time
<br />of axeeution 4r after rcrtxdation hereof-
<br />17. Tramfer of the I'4npeetyr ~autttptlun. if a}i c,r arsy p.^t~t of the Property or an inleresr tharcfn is Bald 4r transferred
<br />by Harrower without Lettdcr"s poor u•ntten sonscnt ec,3uding ta? the creation of a lien 4r encumbrance suhordi~ate to
<br />this Mortgage, ibi the creation +-!f a purchasY mono}' xrcurtev inurrst for househaid appliances. [r) a transfer by devise.
<br />drasrcnt ar isy aparatio4 of law upan t'ne death <>3 a jaiat tenant ur '
<br />F-ender may, at Lender; npttan. deaiare a!i the sums secured by this Mortgage to be
<br />rmtttediaroiv due sad payalsle_ Lender sftaii Kara watvad such epnon to acra}eratz i#. prior t4 the sale or transfer. Lender
<br />and tttc pylon ro whom the Pra>pert}° is to ha sold or transferred rzach a$reamtnt in writing that [he credit of such person
<br />is satisfactory to Lettdtr acrd that the interest payable ar= slit s.umx neared by teals Mortgage shalt ba at such rate as Lender
<br />shad request. tf Letuier has waived the ep€;en t.~ acc.rkrate provided in this paragraph 1'. and if Burrawer's seccessor in
<br />+ntetest has exeeuced a w;~•iucn assumption agreement accepted in writing ba• P_rndrr, hander shat! release Borrower from all
<br />:~igatiems under tbu Mortgage and the Kota.
<br />If L}tnder axctcises such option to acce#era[a, fender shalt maei Rorrawzr notice of acceieratron in accordance with
<br />parasrgph ti itateof. Such nottcz shalt providz a pettod nt trot less thorn ;(7 days from the dace the notice is mailed within
<br />which &rrmwer meg pay the sums declared due. it florrewer Earls xt ply such stems poor to the expiration of such period,
<br />Lender toes, witttatd fttrthtt notice ar damsnd cn Betrawrr.:ttvakc any remedies permrued }av paragraph I S herzof.
<br />1'€pir?-IJixrrxntaa ~{kVE?rAtvt's. Born,wer and i.a4dar futthrr rt3venant and avrre as follows:
<br />tti. AeceisrMior RawedletL Etteepr as provided in paraRnpb iT hereof. opoa Borrower's breach of am cotrenaet or
<br />aprtrttnetAE o7.lotro.rst ~ Mir Mortrt!ttr, taeludiaB the rovrteanb «t pay when due am suata secured bg thh F1ort~ttBe,
<br />l paler tg aetslrrartlsn rbali mail retire to Borrower as provided in para!gnpit 14 boreal sperifyltgt fi) the brearlty
<br />(~-tilt artier-rgttiM ~ race sack breaeby tJi a data. not ker than 3ti days from the date the notice b mailed to Borrower,
<br />by whit! sloth ireaeY least rte randy av~ (3} that faBere to tort such Meath un or 4efnn the date speriNed in the notlre
<br />ttpp ~aatlTt:M rrcalaratiaw of tMt saga servr!ed by shit =liartRage, larecloaure hp (itdfcial prceccadhpl end sale of the preperry.
<br />77M-trollt'e ttt!tMt trtbrt itAorrit >warowrr a[ the riltM uv rebtga[t alter an^eierwitm sad lire riftM it+ assrri in the farer4taurt
<br />~fba MMa+taitfanrt of a de(adf w any other deleare a€ burrower W twecetentlon and toreeNxare if the !coat!
<br />~'ttal eeetni on-o+r -efate the datE spetilieri M Me nurire, t.eotler at f.endtr°s opfioa acts decbtrt all of the sonar sseurad try
<br />€9itp i~ M bt YtnwadkYfefj dwr wd praltli witbrrut lortMr demand sad tttay fombra b}' iittilirid ptnrredital, fonder
<br />sifgrif-lira- ~ -` `-~ , ti+ caSett #n +mck preer~siirgt ail expenses of Larertowte, ineladinR, bid tint IimNtti tv. curls of dacumtMarx
<br />rt+lraars, alwrarxs awtl: Nflr reports.
<br />l4 l•tieruw#r!si RIKbt to Ra4g4Ytr. >:t4 writ3ttatidmg I.rndea's .sceeSrrstrvn „F tl!z sums cccttrcd by t4tts I.ieutga¢r.
<br />S.rrasear stiaSi haft tilt right to Rxs~ ants pr=rsrrdstr7ts_ l~ttt;n by Lender t s ant€ rbr tins 'rinrtg;3gv tiascenunttad a: ang stole
<br />
|