|
<br />I
<br />
<br />83"':';;'004992
<br />
<br />Lender's written agreement or applicable law, Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. shan become additional
<br />indebtedness of Borrower secured by this Mongage. Unles.s Borrower and Lender agree to other (eonl) of payment. such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest- from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable law. in which event such amounts 'shan bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. IDSpectkm. Lender may make or cause to be made reasonahlc entries upon Clnd inspections of the Property.. provided
<br />that Lender shall give Borrower notice prior to any such inspection c;.pecifying reasonable cause therefor related to Lender.s
<br />interest in the Property.
<br />9. Comft.mn.fion. The proc~ds of any award or claim for damages. direct or consequential. in connection with any
<br />condemnation or other taking of the Property, or part thereof. Of for conveyance in lieu of condemnation. are hereby assigned
<br />and .han he paid to Lender.
<br />Tn the event of a total taking of the Property. the proceed$ shall be applied to the sums secured by this Mortgage.
<br />with the excess. if any, paid to Borrower, In lhe event of a partial taking of the Property. unles~ Borrower and Lender
<br />otherwise agree in writing, there shall he applied to the ,,>urn.'\; secured by this Mortgage such proportion of the proceeds
<br />as io; equal to that proponlofl which the amount of the <f;ums <;.ccured by thi~ Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Propertv imme-di<ltcly prior to the dale -of taking, with the balance of the proceeds
<br />paid [0 Borrower.
<br />If the Property is abandoned by Borrower. or if, after notice hy Lender to Borrower that the condemnor offers to make
<br />an award or s.ettle :i claim for damage~, Borrower faits tll respond to I,cnder within 30 days after the date such notice is
<br />mailed. Lender i!O authorized to coHeet and apply Ihe :proceeds:, at Lender's option. either to restoration or repair of the
<br />Property or to the sums st"cured hy thi~ Mortgage.
<br />Unlt:ss lender .and BorrDwt'r otherwi..e agree in wrltin~, any such arplication of prtx:eed~ to principal shan not extend
<br />or postpone tlw due dare 0f the monthly installments referred !O in paragraph.. 1 and 2 hereof or change the amount of
<br />'Such installments,
<br />to. Bono",<< Not Rc-Ifldffl, Extension ('\'f (he rirt1C' for pavment or modification of amortil_stion of the sums secured
<br />by this Mortgage granted h~< Lender to any "ilcce,>,sor Hi In~('re~l of Bt)rro~'eT shall np[ operate to release. in any manner.
<br />the IiabiHty of the original Rorrower and Bj)rf(lw~r\; 'HKl:l'S,,(lr<; in intcrC"st. L\~nder ..hall not he required to commence
<br />proceedings against stJch succe-ssor ('f rcfw;e {t'\' c\;tcnd time r~~r pavmem or 0IhcrA'i...c modify tlmortization of the sums
<br />5eclired hy thi~ Mortgage_ by rea'\.On l'f any demand made hv rhe Ni~jllal Borrower and Borrower's successors _in interest.
<br />1 t. F~aranct: by [("lICkr Not a Waln'r. Any f{lrhcaran(l,~ b..- I t:nder in exercising ,my right or remedy hereunder. or
<br />ntherwisc afforded by applicahle Jaw, ",h;-tl! n(lt he a waivt,~r ()!' or preclude the exercise of any such right or remedy.
<br />The procuremenr of imuram:(" Of the pilvment of la\t;.. l)f other liens t_'r chargc~ oy I ender ..hall not he a waiver of Lender's
<br />right to acceleHltc the maturity pf thi;." mdchrC'dne-"\'I., ,"cl..,tlh'd hy ftw. Mort~llgC.
<br />12. Re:medta: Camulativt>. :\If remetlie.J> rro....ajcd in thi.. Mortgage arc di'itincI and cumulative tfl ,lny other right or
<br />remedy tInder this Mort~wg~ Of affordl;"d l1y law <if equIIY. ;wd m,tV he t:\l~n:i,,\.Cd .;:onC\lHcntly. loJcpcndc,ntfy or succl:s.sively.
<br />13. SucCU50f5 and Assi&m Bound; Jnint and Sf-\'rral Uabtl1t:f: Captiom. The covenants and agreemenl~ herein
<br />contained shaH bind. >!:nd the rights ht.'Tt'tmd~r ~han irWfC In, the n.'-"pcc!ivc "I.\KCc;;..or~ and ass.igns of Lender and Borrower.
<br />~ubiec{ to the pn..visioo\: ,Jf paragraph !7 hereof .\1I "-:,-nrcnilnh and ;lgl't'emcnt'i of B.orn)'\\'a ~haH be j0int and several.
<br />Th(: captions ami he-&djng~ {If the par>l,[!.n1ph" 1'( :hr'i Mnn~i,\gl' flrc (('r ~',HlVcnu;-nct" (ml~' and are nor to be used to
<br />mterpret or define the rro"'ision~ hereof.
<br />14. Notk~. Except for any n~)ticc required under .spplic;=!,lc k,,~ 1,' he given tn ;mother manner, (a) .any nNice to
<br />Burrower prtwided for H1 In;';. Mnrtga~e ..hall ht~ !~lYl.;'n hr m-ailin,l!' %t1\._'1I llntH.'e r.y l(~nlfh:d Hh1il addr~ss.ed to Borrower at
<br />the ProfXrty Addre~'" ..n at ~u,.;h ,,-'{her ;.d~ft'.." .I~ n"'ffC''''",.:r fHay l.Ic<itgnah.' b'..- nnliJ;,;c fo '_cnder as provided h-erdn. and
<br />(b) any nottc\~ 10 Lender s.hall he gwcn b\- certified rn~ld, Tt:!ltm rC'..'I.'lPI n.'qucst~'(L to LendC"r', address stated herein or to
<br />such ()t-her addre$.'i ::!os. tender mil)- dC<ilgndh~ hv th~~il,.'t: hI H(1rr~)\l"Cr a\ prtlV!ded f1l'n.:in Any notkc provided ffe)f in thi'\
<br />Mortgage s.haH be deerned to tLt....1.' been ~Iv".n lu H-<->rfo...cr or I ,:nder ,-...hen ~lH'n in the mitflUer de,o;ignated herein.
<br />IS. tJn-lform Mol1~: (~--()\.t'mm,: Law: .se':t'iabitit)'. T1w.. (.-'1 to nf rn(lrt.\7,a~c i;l.mbrue-s uniform (.:ovenfint~ for national
<br />uS( and Ilon,ufliform l,.-\'I-vcnam"l W!fh Hmih:..l \i.H'I~HH_ln\ hv jllfl",dh.:lh)f! ti' (t'n'l.llful~ a till/form s-ccurilv in..trumcnt covering
<br />real p-r(:~pcrty This Mortgage "h;j!l he g:o'wafw-d h\- th~ b\." d the Iljri..di(,.~IJ(l.n iO which the PrC\l-lC;ty ;i" locnted. In th~
<br />cveJ'!f that any pn)'o,j).wfl nr d~Hl'Se nl thi.. MOrl,g...ge ,'f [hI,.' ....,\.!t" ;.;Pllt1kh wifh aprJit:,ahle law, "tKh ~:ont1ict ,hall not afTect
<br />other provisiom of thtl, Mortgage d ;he SOk wh!(h ":.w bt: !..~ivcn dfi'c! 'A ilh('HI !he' ..:-ontlicting provision, and to thili
<br />end the pm'l.i\ioo., nf lhe ~-h)rtgage ~~nd the ~\ltc ;.Ire ,k,,'br.:-d tf' Ix-- "I;'verar.!e.
<br />16. Borrower'l~ Cop)". Rorn~wer ,han P(' ftlrl1l'.Ju~'d .t ,-,'nfnrmt"d Cflpy tJ{' Ihe Note anJ of Ihis Mongagc at the time
<br />t~f ~fi;utklll or after rc\:ordlUl(ln hl~rcof.
<br />17. Tf1UlSfer-o( the Propet1)': Assumption. if all tlf any pMl (l( the Pn1~)Crty or ;/fl interest therein i\ ,(lid or transferred
<br />by Borwwer \Ito'itm.)ut Lender'!- pnt}f .....nlten I.-.;,)n~nl. ~~xdudinf! I.:l th~ ('fc(Hion of a lien l~r en~umbrance suh~..;n.hnate to
<br />this Mortgage, t.b', the creation t.f <1 purcha~.; m.oney -"';:':Hri~.. loter-c-;,! for hnu..chllld ~\pph;lnccs:. h:l a tramfer by devise,
<br />descent or by operafion \,.t" 1,1\'. upmi. the- death ~~f ,I .iOllH h~nant -w tOl th.: grant (~f .my le.iSehold int~re:~t of three year.. or less
<br />not containing an t')~'tlon to purchase. Lender In.il}. .u Lender', oplj-\..n. d-e-~lare- 'll! rhe ~um" stJ.:iJrcd hy this ~'fortgage to be
<br />imme-J.i:ttely due and payable, L.t":-ndcr "haH ha...'~ 1.l..1jVCJ ,<u:.::h oplion !I.' i{(CderOltc if. prior to !hc \::dc or transfer, Lender
<br />an'" the person In ....,horn the Prnpcn)r I!;, t;,\ be ~old N trJ.n~krr~:d re~~(;h agreerncm 10 writing Toat the ..;redit of \w;h pep,on
<br />is sath.fact-;;;.ry It) Lender and th';it the- inh.'r;;..t r..)'<ihk: ~m the :.;;i1t\ ,'.,cc,;;,...d hy tilis ~..10rlgdgc shall b.: a.t SIKh rate d'i Lcnder
<br />s.haH request. If Lender has waived the ,}ptlClr\ h. d(-c:el~rl.lh: pw\-.i-di..'i."1 :n (hi~; paragraph 17_ and if BorrDwer'!> !'.\lcce\sor in
<br />interest has ~xC'cutcd a wrluen .u:s.umpaon a~rccmcnt .Kccrcd in \\ri[ing by Lender, Lender ...h.J.ll rckas.e Rorro\'-cr from all
<br />obtig.atiOn~ under this Mortgage and the Note.
<br />H Lender e~efds.es ~Udl option to ,acce!~J';.!h", Lender ~h.llJ mail BNf0wer notice (}f ac-cderalion in acc0ftlan;,;:c wrlh
<br />par4iraph- l4 hereof, Such notice _;;h.aH provide J. period Qf not ks... lhan 30 &.iys from lhe date the notic(' is m~i1ed within
<br />which Botwwer ma)" pity the Sllm5 de-dar(:1J due. H BOrrO\l.-{'f fails 'n p.ay sw,,:h "urn'll pr!",;.r to the expiration of "I.u<.:h perio::ld.
<br />Lender may. without further nl1HC~ i..':[ demand {'n Borro\.l,cf. mvof.-C -:in) remedies rermlttc~,! hy pMa,graph J 8 hcrCt1L
<br />
<br />~
<br />
<br />NON~UWU~M COVf.N'''-N'fS~ Iknr-owe-r ..ild Lcn-d{.'r funhcl (;:\VC:1UHl and agree ..l:!. h.,HtIW,'.l:
<br />UL A~celuatioD; Re:nwdm. F~t"tp... provkkd in par.tgraph .7 hereof. upun Born)~'t!Fs brtaeh o.f llll)' covenant or
<br />fll<<*BWM of Bolf'O'llfet m lhi!; M-orlI>>Ite:. ilKludina: thf -t~)\'tna-nb to p3}" ~-h.en due an,,' tiurllS secured by this Mortgage,
<br />laller priof '0 llCC~~ .... mall ....Ik. '0 8otTo...r as p",,'id<<l in pa""ll"'ph 14 hn"" specily'IJtll: (I) t"e breach;
<br />(2) tile lIClioG '......... to. c"'" ....h "'-10; ell a dat., ""I 1_ fb... 311 days [rum lh. do,. tbe oolk. is mailed 10 Borro.....
<br />b)' ..hldI _10 ~ ....... "" ......4: and t4} fhal laau.. 10 cu,e .",h hn:ach "0 '" belon tbe dafe .pecilied In the noti..
<br />..., RfiIJIj 1ft ll<uhrllllutt or ,lot ..._ ...,..Jflf by fhl. ,\lonl\_e. r.....:I....... by judklal p....,<<dIU; and ""Ie or the Properly,
<br />n.1IIIlficw ""'fIIiloff Worm .........e' of tb. 'iIlh' 10 ",instale altn aHelent..o and ,he riIIl.. In _n In the fo"'d.......
<br />~ .tht _,........... ..r . dd.~t 0' .0) ...he, d.,r~_ of 8Mrow... t.. .....'<'le...1lo0 ami fored...or.. If lhe hre....
<br />It _"'""" .... or lief_tile lbue ...<:llled m lhe nolke, tende, at Lender', option o,ay declare .11 of lbe ..._ ..cured b,
<br />llilfI; ~ '" lto ~) 4lor MMl ""rable ..lUtmtt further __ and may fo_l<"", by indicial _<<dlnl\. l.~nder
<br />..w .. ...udio4 ....,..,t 1ft _10 pt<t<"","", "" '''~ of lored.....'.. ind""", ho' not IimJt<<l t... .oo. or .....u.u.nt..y
<br />~. ...... ..... tliIe ,.".,...,
<br />1.9.. ~51l_f _to_ .....k. Nmwlth1Ot>>udmg l..-ender\ ~(:.:;ekrat'\~o of dw "Hnl~ ~c-uH\d by rhi!'i ~-h)n8a!te,
<br />~:fr ~l n.-'Ife; the ri,h~ w ~ve an)' prO'..:erdtriJp. ~gun h Lt"-mkr j.) Cn1Of{'C If\l:. Mt!-ng~","C \h1\.'OnHtn~~d ,'tt jil;O} tUlle
<br />
|