|
<br />QL1. _ OC5803
<br />v.
<br />
<br />f c{H.kr\ wfJll-....n agrct:ment {)( appli~:ablc Jaw. Borrower shaH pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragrnph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. shall become additional
<br />indebtedness of Bnrrower secured by thIS Mortgage. Unless Borrower and Lender agree to other tenns of payment, such
<br />amounts shaH r..c pay~bk upon notice from Lender to Borrower reque"iring payment thereof. and shall bear interest from the
<br />Jate or dhbursemeni at ihe fait;; payabk frvffi time :0 tim~ er; cut&tan-dLr'!g pr!!1dpa~ u!Hier the Note unless payment of
<br />int!!re5l ~H S!l(:h !"~tc would be contrary tn app!ic~b!c !~w. in whkh event sueh- amount; shaH helli' tiit~r~t at the high9St rQ~
<br />permis,ible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or tllke
<br />any action hcre~nder~. ~ _.. _ t..1' . << .. _ n.___' .'
<br />8. IMptdiO-D. Lcnoer may maKe or calise to oe maa-e rcasumlUlC t:fitln5 iijXlii and m~pect;{:mg cr ~~~ =--: ~i-..;:r;:y-; P!~}~t~.e..~
<br />that. Lender shall give narrower norice prioT 10 any such inspection !'ioJ'Ct:ifying f~awmibta Cati3C therefor r-e!ated to Lender',
<br />mtere<t m the Property,
<br />9. Condemnation. The pro-ceeds of any award or claim for damages, direct or con'icquential. in connection with any
<br />,'ondemo.tion or other taking of the Property. or part thereof. or for conveyance in lieu of condemnation, are hereby assigned
<br />dild shaH t'i~ paid: h"1 Lender.
<br />J!! !h-r ~.vl"nf of a tntai taking ~)f the Prnpeny, the proceeds s.hall be app1ied to the sums secured by this Mortgage.
<br />u-ith the t'''('c....: if :H1Y p.lid hi Borrower. In the event of a partial (akin~ of the Property.. uniess Borrower amf Lender
<br />t'lher\...'j~.c ~grce ~n writ!!1f,!, there sh:tH he applied ro tht' sum~ secured by this Mortgage such proportion Of the proceeds
<br />as i'i eqllai to that prnpt..rtion which the amount of the stirn!; "ectlred hy this: ~{ortgage immediately prioT -to 'the- date of
<br />laking hear" t-0 the faIr marke'f vainc of ihe Propt'riv immediate-iy prk'!f to the date of taking. with the 'balance of the proceeds
<br />paid to Borrower.
<br />ff the Properry j.;; an:Hldoncd h~./ B;)rrower. or if. after n('ldee hy Lender to Borrower that the condemnor offen to-make
<br />"n award or ,c!tlc " claim for damage,. Borrower fail, to respond to Lender within 30 days after Ihe dato:> such notice is
<br />m;ided, I .cnd-cr i~~ ,ilu!norilt.'d tQ coliec~ and applv the proceeds. at Lender's option. either to - restoration or repair of- the
<br />Property or to the ~ums _~ccured hy this 1\1ortgage.
<br />Cnk-5\ L;nd~r ;\nd BOrH'lWer o-thenvl"l'- agret~ in writjn~. any .sue' .....-rylication or proceeds to principal shaU'not extend
<br />c~r P.{'lstpone the due date nf the monthiy insr-cIiiments r-tf\:-."'~l! tr ;", , , ue.-Juph:i ~ 3tld' .., hereof. or change the - amount 'of
<br />,>uch installments,
<br />to. Borrower Not Reietied~ Extension of i;lt: lime for tl<lvrnent (if modification of amortization of the sums secured
<br />by ih\s Jvlririgage. gnm:<.;d b:.-' Lcnder tn ;';.ny ~;u;;:ces;,;or in !p.!erest of B!..)rrDWer ~hal1 nol operate to release~ in 9JlV m-anner~
<br />!he iiabitil)i of rhe origjni1! Borrower and Borrower'" successors in interest Lender shall not he required_ to commct'lCe,
<br />proceedings against ~uch o.;uccessor Of refu~ to cxt~nd rime for p&yment Of otherwise modify amortization of the, a'urns-
<br />"ecur:~d hy this rvfortgage nv j~a5~; of ::~~y. clem, a~d "n;a~ by th.",~ .ori:i,n_'L:_~~~=~r~~~~:~:~~ ~~~r~~..e.-r'~.~~:=', u, _rs in, interet" t.
<br />11. Forbearance by Lender ~f)l a waiver. Pln\ tomearam.:c ny LCflUl;"1 HI ~_'I.t;H..I:-lIIZS: UH)" ut:;>U ~. ;-.;;:...""....;1 he!'!!!!t!der.o.r
<br />,Hhcr.;n:i->: :_dr0~ded hy ~pp-!icshh~ !;.!'W, ,:-h:'lH !~(,! h{" ~ W~iVl;""r j)f or p.reclude [he exercise of any such right o-r .remedy.
<br />The J\n.)Curement of imurance or the paymellt lli' {~he" 6f ,!thei Herr.;: or char,!Zc'5 hy Lender shan nO! be ~ wliiver of I.,.ender'!i.
<br />right [0 ;i....:rckratc the maturity of rht~ ;nde~!ednc"'s ....l~('llrnj oy thi.., Mnrrgage.
<br />12. Remedies Cumulatiye.. Ail r~medic'\ pro,,'!ded in Ow. ~-h'rtgagc .are di':\tinct and climulaHvt: to any 'Other- right or
<br />remedy under rhi':\ :\f('f1~~l~t' (ll afft;.rdcd t,v 1:'1,\'\ nr equlty_ Jnd may M..: c\cn.:i"ed concurrently. independently or successively.
<br />13. Succ",.,,,,,,, and A'''~lls Buund: Joint a"d Sc'~ral [.lahility; Captions. The covenant' and agreements herein
<br />::.''-'~m~in~-d <:.n-,!H hind_ ;!nd rhe dghh hereunder "hall Hlure If). the n:\pcc-ftVC SllCCC'SSOrs and ass:igns of Len~er and Borrowe~..
<br />",ubjt:ct [0 tht: pr(~vl"H.ln'i oj p<lra,\!raph 17 hCft'()~. ;.\H CtWCIW.!ltS and agreements of Borrower shall be Joint and several.
<br />"The CiJptwos and hcadmg\ of the p;1r.j~mph~ of this Mortg-agc nr~ for cn'nveolcm:e only and are not to be used to
<br />,nte:rpret or define the proYJ",ion"- hereof.
<br />!4. ~otiee. Ex(cp! fflf any f!>:)!H:j-," fl:q1.!ln~d unJer ;lpplkab!e la", !o- be given in another ma.nner. (a) any _ notice, 10
<br />BOrfPwer provided for H1 this ~'fortgage ...hall he given by rn~-llljnf! \uch no-tice by certified mail addres-s.ed to BorroWer at
<br />the Property Addr~s..'i l..~r .if such other addre:;~ <1_'S Bornw/er m~1Y deSI~natc by notice to Lender as provided herein.._ and
<br />(h) an" notice- ~L~ Lender s.haH ~ ,t;i\'t'n hy ("ertifie-d mad. return rec\:rpt requested, to Lender's address stated he--rein or to
<br />..uch other adore':>, 3.~ Lt~nder maY dC-'ij~nJ:te D\" nt"'lflcc 10 Borrower as prOVIded hereln, Any notice provided for _in this.
<br />~"0rt?ag~ snail be ut''Cmc-u h~ h:l\ ~ b\;t-1l tl"\:"l-~ ~\-:-. 8olfuYii:;r \,"".; Lc...Gt:r ;;..h~:;- ;::V'l:-:':. :~ th~ !!!an!1~!' rle!ig!'!~!!:d' ~-rei~.
<br />I:;. :..riiU'iOih'; ~-1(::-:=::~: G~,,~~ing Law: ~~rrahiU:ty. This f0rm ('\f mortgage combine, uniform covenants for national
<br />use and no--t\-unifonn (lWenant')- \-I.-ith limih:d \'~i.natlOn$ hy jUit~i.h\..tion h1 consriuue a uniftifrn iCCUr-::y !n!!!nrnent covering
<br />real property Tru, Mortgage ",u!! he gnvcrn~d tw the law .Jf the _Iori\diction in which the Property is -located. In the
<br />event rh:.H any rr,-,\'i~'\.1n ('n d~ll~t: ~)t !hh M0f1gJ.gt.' Of rhe NnH: cpnt\icts \vtth applicable taw. such confl-ic-t shan not affect
<br />fHher prnv,~i(m~ l)f thIs Mortgage I}r ih~ Note whi~h can be ~,~iven effect without the conflicting provisiun, and to- this_
<br />C'r~d the pnwis!(ms. '.,f th~ M(\n!!a~e :lfld the ~.)le are declared to he st:'verablc.
<br />16, Borro....r's t.....py, Bmrower ,hall be furtll,hed a """formed copy of the Nole and of Ihis Mortgage al the time
<br />~1-f e'!{Cf,.'ut1DO \'r afler rc~orda!ion here('~L
<br />17. Trausf~.r of the Property: A~mptioft. U alllc~r any part of the Property or an inh::tcsi th~rein l5. soid Dr ti.ns~-d
<br />by 8orrov.'er \\-'irh-our Lender's prior wrluen consent. c\;.ciuding. l,fl the creation of a lien or encumbrance subordinate -to-
<br />thi" Mongage. {hl the crCJ.tl(m of a purchase money 'i-C'.:uritv Interest for household appliances, (c) a transfer by devisel
<br />deSCf'nt or hy t!per-::1tion ~1f law HVL"!! ih>;; .kiith nf rt j(';!nf ten:mt Of t~' 1~: ;r: ~ ~ ~. ~-: ~ :~~~l": ~__:__ __ .. ___~ ...: IIH- Df "111
<br />--j --it-- 1~;"P'8 II1II iJ,tRIiA 111 r Till fI] Lender may, at Lender's opHon. declare aU fhe sums. secured by this Mortgage to be
<br />;mmedi-atd~' due and payahle. Lt'nder <;;hali have w-;!~ved "\ucn opfion to accelerat.e if. prior to the sale or transfer; Lender
<br />and the pt::-fson to wh(1m the Prop-e.rty is 11..1 he snld or tran'3fcrre-d reach agreement in writing that the -credit of such penon
<br />is ..tistaeton '" Lender and tha, Ihe intere,; payable on the 'urns ."cured hy tbis Mortgage shall be al such rale as Lender
<br />shaii request. if Lc:nuel hi.t5 Wuiv-i:rl th~ t'p\iv-;; :\.'; J:;:x!er~;te p-r0~r~d~ :~ th~5 ~!'ag-~ph 17. ~n4 if Bnrrnwer~s successor in
<br />interest has e"""uted a written ."umplion agreemem accepted in writing hv l.ender, Lender shall release Borrower from all
<br />obligatiOn! under this Mortgage and the Note.
<br />If t.ender exercises such opnon to acceJerate. Lender ...hall mail Borrower notice of acceleration in accordan<< with
<br />paragraph 14 hereof. Such "<'lice shall provide a penod pf npt les, than 50 days from the date Ihe notice is mailed within
<br />which Borrower may pay the "urns dedared du!':. It 8orro\\'er fad5. to pay ~uch sums priur to the ex.piratiun of such' pedod.
<br />Lender may. wlt~1Ut further noHcr (~r demand 0n &rrower. 'n\'oKc any fC'ml--dies permttted hy paragraph 18 hereof.
<br />
<br />N~~U~!~D~!'A C{,}-\i--p_lI.tANT~ R(\rrnwer and Len-der further -covenant and agree as ioliows:
<br />
<br />II. Ae<<lenltloa: R........u.... Exc..pt.. .....v!dt-d in pal1lllcaph 17 he......f, upon Borrower's breach of lIUY co.....ut Of
<br />...-... of .............. i" this MMl1!llIc, includit!lll the cuv"",...!>; .n pay wh..n due lIn) <ums _red by this MorfIiIlIe,
<br />I.......r prior to ..,~ ...all mail notice 10 Bono",.... a. pmvided io paraeraph 14 hereo{ ttpeclfyllllll III the brueh:
<br />11liH ~ r~ to eI'" .uch bre..,h: (3) II dale. ..... Ie... than J6 days from the date Ihe IItlIict! h mailed 10 Bono_,
<br />by wlliIdl _h llRlodl mast "" cu....d1 and 141 tit... falt...... 10 co", such r.....ch on or hefo.... I.... <!lite lOpKlfied 10 lbe aotite
<br />...., ""'"' hlllC~of I"" ..._ _ond bl 1101, Mol'tll.. i""""losure by judicial p....-.llfliC iiiid iiiili? of tblt: P~.
<br />'0... ~.,.. ..... f~ 1m...... Borr..w.... of 1M riIlhl ,.. rriMlate die\" accmmloe .."'! ,"" ril!~ to _rt In the r~
<br />~ Ilw _lomore of II detaalt or _, ;'I""r dem- uf Irorro..er 10 ~ratlol1 ....d fo~. If Ilw bnacll
<br />io _..... ........ ...t..... ,he 4at<t ..,.,cihd iu I"" _ke. iNeder at r...ndff'. optioll ......,. d.....re all of the IU_ secttnld by
<br />,... M..... to be .........llDly d.... ...... pay...... without run1m' tkl1l".... ...d m"y r"""'...... by judiciAII Pro<<edluia. l....u..r
<br />...... "" ....1IUooIl to colle.. I.. "tH.'h "r~ all '~Pf'n._ of r.."'<lM.....,'mludina. ..... ""I Ilmlleri to. c_ ..r doell_uta.,
<br />".-c.. .....,,,,....0 till<- ~
<br />t9,. llartVWtrf"'i 1iticht to R~_~ "~t'-i'y,.!lh.~~<tI1i-,=1Jnj!1 L['nd~r'~ ,n_,6ef;..HH.n ,,;f lht \!_lllU ll.t"cure-d hy nu"O M{lrtgagc,
<br />H.:t.~H'l"'1Ct ~h"lH ilill,,-e tn.!"" itf_h-~ ~p h..v(' <!f1\ pr-i1(t"~dmj.t\. ~lIC'fl-~m n\-- 1 c-no.e-'\'" ~i'> -;'-Jh}r.;~~ tilt" ?vk'n1ta~lt ~ti'i~\.)::fl'tmmM aJ ant- time
<br />
<br />N!F\t\ H/&.4
<br />;::~l' i.f;'~'f ;( !:H54f\
<br />
|