|
<br />
<br />I
<br />
<br />83-002518
<br />
<br />Lendel"s Written agreement or applicable law, Borrower shall pay the amount of all mortgage insurance premiums in the
<br />mannerprovided under paragraph? hereof.
<br />Any amoun\s disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indel:ltedness ofB(JfrOwer seCured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such
<br />"!I'OUfitSslIallbeJ)'!.yabreuponootke from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />dl!ie'o{disbtl_ilrafthe'rate payaBle from time to time on outstanding principal under the Note unless payment of
<br />il'ltiiTt!st:lit'stJi:hrilk'W6tIkl becorttrat'y to applicable law, in which event such amounts shall bear interest at the highest rate
<br />~iSSlhleunller'lljlpfteable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />tllIY ~nlieteUrIder'
<br />., ~. Lender may make or cause to be made reasonable entries lIpon and inspections of the Property, provided
<br />that.bonder sliailglveBortower notice prior to any "teh inspection specifying reasonable cause therefor related to Lender's
<br />inte~t. in. thePTQpertt
<br />9-. Cottdem~.. The -proceeds of any award or claim for dama'ges, direcf or consequential, in connection with any
<br />condemn'adon or'otlier takint of the Property. or part thereof. or for conveyance in Heu of condemnation, are hereby assigned
<br />.ndshall bepa!d IdI.ender,
<br />In theeveul of a total taking of the Property. the pmceeds .ball he applied to the slim. secured by this Mortgage.
<br />Wi~h- tbe ex~"'S~ If any, paid to &rrower. In the event of a partial taking t)f the Property. unless Borrower and Lender
<br />otherwise agree inwr!t!ng, toore .han he applied to the mms secured by thi, Mortgage 'lIeh proportion of the proceeds
<br />as IS equal to that prOportion which thc amount of !he slims secmed by this Mortgage immediately prior to the date of
<br />taklng bea_rs-l-o'the fair market value of the Property immediate-!y prk~T 10 the date 0f laking. with the o-alance of the p-roceeds
<br />paM to Burrower,
<br />If the Property is abandoned by Borrower. or if. after notic.e "-r Lender to Borrower that the condemnor offers to make
<br />an award or settle .a -claim for damages, .Borrower f:tih- ,{'l n."'ipnnd tn Lender within _,0 days after the date such notice is
<br />mailed, lAnder' is aUfborir.ed to c"Uecl and apply the proceeds. at Lender's option. either 10 ,esloral;"n or repair of the
<br />Property or t" the sums secured by this Mortgage,
<br />Unle$<t l..e-i1der and -Borrower o-theNo!i~ agree in writing, ~U1V li\.k'h appli-.::rlTion of proceeds to princip31 shall nat extend
<br />or postpone: the due date of the monthly ins(~tUmcnt$ referred !i.~ in r~H'agraph~ 1 and 2. hereof or change the amount of
<br />such installmetm.
<br />_tO~ BOrroWt'r--Not Rekaed. F.~tten~on of the time for pavmem nr mooifk3fion c.f amortlzation ('If the ~ums secured
<br />by this Mortgage granttd by Lender to any ",ucces.St.-'l-r in intcrc!:.t of Born,wer >:;haH om ope-rate to release. in any manner,
<br />the liah1Jit)' of the origin~J Borrower ~md Borrower'" 1'tlCCeS\i1l'~ in imcresi. I...~nder ot;hall n,,-1t be Te:quired to commence
<br />proceedings attainst such $lh.---cessor or refuse to c~tcnd HOle for payment nr l)[hcrwi;.;.e modify amortization of the sums
<br />secured by this Mortgqe by reason of any dc-manu made b~ the \)riginal BornJ\\"cr :md norrower'~ -successors in interest.
<br />11. F~ by Lende.. Not a ","ai~t'r. !\ny forbC'ar;wce nr Lender in c'(ercfsing any right or remedy hereunder. or
<br />Olberwi\e afforded by applicable taw. shaH not he ~l waiver :-.,f ,\f prcdudc the e'i.:crcisc of any sllch right or remedy.
<br />The procun:<me:nt of imurance or the paym~ot os h'l\C'S Pf other liens. .'t' '..:har}tc" hy Lender ~hal! not he a waiver f)f Lcnder1s
<br />right to accelerate the maturity ,-;-f the indebtednco"s <.,ccun:.~d hv ihi., Mortgage
<br />I%.- ~ CtllD-tdadvt.. AU remedie~ prn\.'fi:lcd !"l thh: ~h,;rtgage <iTe di-st'irKt Hnd {;lImu.!ativc !f' any OIher right or
<br />-remedy under this Mortg. Qr afforded hv Ia'.;t.- i~r ('quit\", Mld flU)' h.: {'~;;n':f"e-J (.''-'Hl\,~Ufi'Cn!ly, mdependcmly or successively.
<br />13. ~ lUld ~ Bound: Joinl and s,.,eral Uabillt,., Caprion.. The em,,"ant. a"d agreements herein
<br />-contained shall bint.t~^and tM r.ighu hereunder ,,!-mil mt.HC- h). 1hc n:-"ipC'l:!i\-c :s-tl.;';I.:C'."'(lf'; ~lOd assigns. \'f Lender mnl Borrower,
<br />1ubject to the pnwi1ion:s of parneraph !1 heft-of, All (-\.Wcn<H11~ and ;~grvernent~ (\f BfHTo'wer "hall h.e joint and several.
<br />The captions and headin&~ of the paragr.:.J.ph" uf ~his Mf..rtg:'l~1; :If(' f\~r ..:(~n\'enien(e ~).nly ;HHl are not to be uRed to
<br />onterpre! '1f defttlC the provi\ion. herevF.
<br />14.. Notk-e. Except fof' any UQttce rtqHir('d tmdcf 4'f'_!k;"hie 1,1\~ tp he given in another !n:llnner. (a'1 any notice to
<br />Borf'ower p-rovfded,f(lf in thi~ M(lftgugc e;;.haH he !~iv~n hy m~{"iHft >tKh i~('>tIC<: b\ i,,'-cnified n\;;~il addr~s(d 10 BClHower at
<br />the Property AddreSJi. Of at ~u~h l.-4hef J:ddp-:':':i ;t-S. Jl()t!'\1~Cf rna~ d~"'-trn-att' by !''/{.!tc(' te. tender ~s provided herdn. and
<br />(b) aiiy-ooti\:-e m Lender'i-h:aH be giv\Tn hy -ccrhtk-"tl J:u;d, return !C\.t,pi fcquelltec. fn LetH.!er'.. address- stated herein or to
<br />such ot~r ~'i as L~r m-2:1!i ~j~n~d-e f1) Hutu;t; t.' Bornmcr ~l~ PhlVidccd herelft ,"ny Ht'HlcC- pnwided for in rhL'\
<br />M-ong.age: shaH he- -<;ittmw. ~o h~"!;.~; t~~n ~i"c!1 to _&};r-m'-'er or Lender ...:hen pven in the manner designated herein.
<br />}5;o, lJDitof. M.o~f;{ t-;i~""'!i;f~ !,.,a't\-'_~ &v'tT-!!biIlt~.. Thi... h~rn:1 i ,j' m;;1.f1gage .: omhines uniform covenant-> f{)f national
<br />use- and fh...m~uniform c-t..\;\'e~ar,~} \~i\h lim.if.::J \-'~r;al;-on~ hy jun~dh:tjnn In {"('lhtit~He a uniform se*,,;urity instrun1t:-nt covering
<br />real property. This. MOf.tg~&e !',h;alL be gHverned hy the how {";~ ~h\-;- mrisd:c-hon lfl ",.tlkh the ProlX"rty ,'\ hx:ated, In the
<br />e~t that any ptnvi$ioo or dause of this ~:f{)t1ga.t:e N the ~,)tc-- ('fHlniel.s \\"hh -applicable law. -such conniet ~twn not affect
<br />ot;h.". pr,wisions of this Mongag~ (If the N\.'llc \\ht~h -(J.H bt: gt\'t.---n effed withom the conftictlng provision. and to this
<br />end the pro...ision~ of the Mmtg"ge and the Note at<: declar<d to he ,""vcrable,
<br />J6.. ' 80n0wer~-I Co,)'. Borrt.)wer \hl:4U b-c furni~he\i ,1 ";-t'nfc~rm~d ..:ory nf the Note and of this. .\1'-("lr1gage at the time
<br />,,( cle<;ution or afrer "",ordation hereof. .
<br />1-'1. Tran:sf... of t_ Property; Asw-mption. If all OJ ill\) P,Ht t}! lhe ProperlY i.)f an loten:st therein is ~old or B'ansferr-eJ
<br />by ~ro..~ without Lender's pri(lr written ....~'-)n-S\:'llt. t;'J,.dudit'1s (.i.i the ('[Cation of a !ie.n nr elH.~urnbrarn."t'! subordinate to
<br />this ~, (b.) the c:reaUoA of A pur(;hase ftWHC,y -'ie~ur~('y ,n-ttreU for household appH3n1.,~es, {e) a transfer by devise.
<br />~I Ol' by operation of law upon the death 0/ a j,'inl tona'" '" (dl the grant or any lea'iehold i"te",~1 of three yea" or Ie...
<br />!lOt ~Il" op\\Qn to J"Urcluue. Lender may, at Le.,,<h'f, "1'110"', deda", an too sum. secllred by this Mortgage w be
<br />im~ely: duelU)li .payable. Lender ,hall ha,'. "",,'sed such "ption to """clerole if. prior to Ihe sale or transfer. Lender
<br />.~:dwf _~tlon .to, whom.~ Propert)' _ rs. lU be $QJd (~ trans.h;rrcd reach agreement in writing that the <redit _ oi ~uch person
<br />i$ 5;!tJsf..,I"q 10 l.en4er and that the interest pa)'ahle on rhe sums secured by Ihis Mortgage shall he at stich rate a~ Lender
<br />$batlt'Of!,~, If ~ll'Iswai\'~tbe option '" a;;celerate p,ovlded in lhis paragraph 17. and if Borrower's sU~I.'eS$Or in
<br />im"",,l,/l.a$~ IlWrit~ccllll$$\lffiption agreement accepted in writing bv Lende>', Lender shall. release B"rrower from all
<br />~ut>doftbisMortcaae&lldtli!:Note. . ,
<br />tf ~r ""~ such option to l\j;cderare. L~ndc:r ,hail mad Borrower notice 0/ acceleration in accordance with
<br />~14.~t SuchnOticcshaU provide a period of not Ie&> Il1an 30 days from the dale the notke i.s mailed w~thin
<br />~.~ Il18Y.J>llf 1M _ """Iared due, If Borrower fail; to pay such SUIm prior to the "xpirati"n of \u.ch period,
<br />~ .~1, ~ttKmt. ftlftber not.iee or dell'UUld 0" Borrower, inv<>l<e any remedies permitted by paragraph 18 hereof,
<br />
<br />~~~c~n..~r and !.ender further covenant and agree as i"II<)Wo;
<br />. , . .~...pso~iIl~nqotI t7lMmtf,.uponBormwet'sbteaehof ,,"ycov.lU!Dt or
<br />~. iIlcllIcI~ .tIle~ov~I".pa)' wll,"tdue. lll1)' _ seeared Ill' Ihls Mortr.lIIe.
<br />.....~~~ow<< '" PNvkle.d '" ~14 henoJ'llperifYi!l&: (I) thelmtal:b;
<br />..,.,~.(3).j1""""llus 1~3HtI)'O r....... I"" "*,, the _lice Is,.W 10 BomJ~'
<br />c~~'(4)tblltl.I~'" ~ 5lld1Imta1:1tOllorbefore thed.I"~ mlhe "'*"
<br />."'bJ1tils~f~by ~. ~ a4 ~.ot tIlePntpol~.
<br />oI!tliI>.Io~ ~~~d the .ricltt~._ltllll the ~
<br /><<~!illl,"~~l>f~~ to~lIIIdf~ Ifllle t!I;udt
<br />..~. ...~......., ~.'~ ~._)'~."<Il the SUIJlS-.mJby
<br />~l~~_:ma,f~bJ~~. ~
<br />..JilJ.,,~of~ ~..Inlt.. ~ 1l>Abd......~ n,..,..ary
<br />
<br />
<br />
|