|
<br />r , >.,
<br />~2.....1) 2r? ~
<br />Lender's. written agreement or applicable. law, Borrower shalt pa}• the amount of all mortgage insurance premiums in the
<br />manner providedupderparagraph ? hereoL
<br />Anyamounts disbursed by Lender. pursuant to this paragraph. i, with interest thereon, shale. become additional
<br />indebtedhess of Borrower secured6yahis Mortgage, Unless Borrower and Lenderagree ie other terms of payment such
<br />ainounis shall be payable upon notice from i_ender [o Borrower requesting payment thereof, and shall bear interest from the
<br />_ dale of. disbursement at the. rate payable from time to time on outstanding principal. under the \ote unless .payment of
<br />interestatsuch rate would be contrary to applicable ]aw, in which evert such amounts shall bear interest at *.he highest rate
<br />_. permissible under applicable law. Nothing contained in this paragraph ?shall require Lender to incur. any. expense of take
<br />any action hereunder.
<br />5... htspertion. Lender may make or cause to be made reasonableentries upon and inspections of [he Property, provided
<br />That Lender shall give Borrower notice prior to am such inspection specifying reasonable cause therefor related To Lender's-
<br />: interest in The Property.
<br />_ 9. Condemnation. The proceeds o,`' an}' award or claim for damages. direct or consequential, in tonne^.tion with any
<br />cortdernnation or other taking of the Property, orpatt thereof. ar fcr convevanta in 3ieu of condemnation. are hereby assigned
<br />and shal!'be. paid to Lender.
<br />_ In the event of a total taking. of the Property, the proceeds shall he applied. to the sums securedby this btortgage.
<br />with the excess, if any, paid to Borrower. In the event of a partial taking of the Property', unless Borrower and Lender
<br />otherwise. agree in writing,.there shall he applied to the sums secured by this Mortgage. such proportion of the proceeds
<br />as-is equalto that proportion whichThe amount of the sums secttredhy this Mortgage immediately prior to the. date of
<br />taking bears to thefair market vahn: of the Property immediately prior tc the date of faking. with thebaIance of the aroceeds -
<br />paid ro Rorrower.
<br />If the Property is abandoned by Borrower. or it, afrer notice by Lender to Borrower that. the condztnnoroffers to make
<br />an award or settle a claim for darnaees, Borrower fails to respond to Lender. within 30 days .after the date such notice is
<br />_ mailed. Lender is aaihorized to collect and apply the proceeds, at Lender's option, either to restoration.. or rerair of. the
<br />Property. or to the sums secured. h}' this Mortgage.
<br />IInlessLender and Borrower otherwise agree in writing, ern' such appfic.>.tion of proceeds toprincipaishali pat extend
<br />or postpone thedue dateot the monthly installments referred to in paragraphs 1 and 2 hereof or change theamount of
<br />such. installments.
<br />10. Borrower Not Released. Extension of the time for payment or madifiean~n +7f amoruzatsnn of ihest~ms secured
<br />by this Mortgage granted fay 1_ender to env successor in 4nterest of Borrower shad not operate to release, in any manner
<br />the liability of the original Barrower and~Bnrrower'. -uccessors in interest. i_ender ,hall not he required t, commence
<br />proceedings against such successor nr refitse to extend time for. pa}'mom or otherwise modify amortizatic n of The sums
<br />secured by thisMortgage by reasop of anydemand madebv The original Aarmu'er and. Barrow 's successors in interest.
<br />ill Forbearance by bender Nof a Waiver...Anv forbearance by Lender in exercising env. right orremedy }Hereunder. or
<br />otherwise afforded by applicable law, shall not he~ a waiver of or ; rzc!ude the exercise of am• such right nr remedy.
<br />The: procurement of insvraoee or the payment of taxes or athe.* Liens or charges by Zenner shalt nothe s w=giver of Lender's
<br />right to accelerate the maturity of the indebtedness secured };y this Mortgage,
<br />12. Remedies Cumulative. ;li remedies prrnided in this ~tnrt,.,age arc distinct anti cumglaiive to any other right nr
<br />remedy under this Mor[eageor affordedbylaw z•-r egtuty, and mate he cxerc:~ed concutrentle, independentl} or aucessivel'S'.
<br />13. Successors and Assigns Bounds Joint and Several (.lability: Captions. 'T'he x~~~c.nants and :igreemenis .herein
<br />contained shallbind, and the rights heretmder-shall inure to. the respetth'e w tossers and assigns oC Lencicr ;md Borrower.
<br />subject to the provisions of paragraph 17 hereof. All covenants i^.d agr~.mcnis of Borrower shall be joint and se'•reral.
<br />The caplions and headings of the paragraphs of this Mortgage are for eotnenignce on'tc ,+nd are not to 'rte urea to
<br />interpret or define. the provisions hereof.
<br />14. Notice. Except for any noticerequired under appiiatblr lak' tube given in another manned dn) acv notice to
<br />Borrower provided for in this Mortgage shall he given hy' mailing such nMiee by certified plait add..*rssed to Rorrower at
<br />theProperty Address or at such other address as Borrower mu} ~sienafc h} notice to Lender as pmvidci3 herein. and
<br />(IJ} an}' pollee; 1O Lrndff Shall br gr~'Cn bcrerttfied m:t ll_ rfLU7'n recr:pt regnC~ICd. Sn }. t:n[iclS addreSS~Slatc'd }1rre1R Or CO '
<br />such other address as Lender may' designates}' notice toBorrcu-er ns prni~idect herein.: .1nv Notice. prrn•ided forin this
<br />Mortgage shaII he deemed to have been eii'en to Rorrower or Lerrdcr .+hcri giv~cn in =.Fie manner Jesienated herein.
<br />15. Uniform ;Viorfgage: Governing: Lawe Severabilily. 7?tis :c-mof mortgage ct+mbines uniform covenants for national
<br />use and non-uniformcoveoantsw•ith limited variations z,y iuri,diuion u, earstitute auniform security. instn~ment covering
<br />real properrv. This Mortgage shalt be governed he the taw o th_ ,.nsils",ion in which file Propdrty is to::ated, ir. the
<br />evenC that ern' provision or clause of this Morti,ageoc he 'vote .. n@,". a rth 'snplicahle taw, su h ,.oHlliet shall not affect
<br />other provisions of this ?Mortgage. or: the Vo.r which .tan be et*~~n c3lect ,vithotit the conflinae nnmision. and to ?his
<br />end the provisions of theM1lortgage acid the ~rnc pre d,.c.i red't, he :.cvcrahle.
<br />16. Rorrower'sCopy. Barrower shall he furnished .: eonferm a~opy of the tin,c .uri-:~f fi'; 'vlixtgage ,,t 9herime
<br />of execution aratter recordation hereof..
<br />V. Transfer of the Property;Assvmption. ]f at! +~• an}' p.,!iof the Property' nr aft interest therein n :;old ar transferred
<br />try Borrower without.Lendcr"s pour written consrat. excluding ~w the crcet4onaf 'a 'ice x enc~tmbrarie v;bordntate to
<br />this Mortgage, ib} the creation of n purchase moneysecurity mteresi for neuszhold npplic,nces (ci. ii transfer: bc_devise.
<br />descent orbv operation of law upon the death of .~oirtt repent o* _: - - '.
<br />Lcndefmay: at i_cndcr'sbpu[,n. declar_ alt the sums second by [ni5 Mortgage to be
<br />immediately dueand. payahte. Lender shallhave waived such c~puon ,:,, se:xler:uzrf. prior :.o the ale or transfer. Linder
<br />and the. person to whomthe. Property is to. besold or tram (er2d each ..greement in -i ~..3 that the :: rec`iT of such person
<br />issatisfaetory toLender and Thai the interest payable an the sums sec.;reality the Mons _e shat: he at such rate as Lender
<br />: .shalt request If 1_ender haswaivedihc option to ttcceleratc , rovided nthis paragrap}? i7. and if $orreswei's successor in
<br />interest has executed a written assumption agreement accepted in t 7ting by Lender> i_ender shat release Burrower frorri all
<br />obligations under this Mortgage and the tinter
<br />If Lender e?cercisessuch option io accelerate. I_c^ndersha;i mail Rorower rrotice ofscce{cration in accordance with
<br />paragraph ?4 hereof. Such notice shalt provide.. a nerkd . t ~tcx l~ss than ~0 da.•s irorn *.he date the notice s mailed •~x~ithin
<br />which Borrower may pay the sums declared dur_ if Aormw~>r fats ^a pap wch Bums ;xinr to theexpiration .~F such oerirad.
<br />Lender mag, wiihoutfisnher nozite or demand cn Borrowar_ ;prof.'- any remcdses perm~treri by ; a agtaph 'ti hereof.
<br />NoN-UHtFOems Coy~*f.n~rs. Borrower and [_ender further cov~~natit and _rec avs follows:
<br />18: Accelerating; Remedies, Except as provided in paragraph 17 trereof, upon. Borrower's breach +~f any cm•enan! or
<br />agreement uE Borrower in this Mortgage, including. the r+»enants to pay- when doz. an_y sums azcured by this. Mortgage,
<br />.Lender prior to acceleration sbaRmail notice to Rorrower as provided in paragraph 14 fiereaf specifying:.. (1) the breach;
<br />(2)tbe actionrequiired to cure such breach; (i} a date, no[ less than 3U dayti from the date ihz nofire is mailed so Barrower,
<br />by which suck breach must be cured; and fyl that failure to cure such hreach nn nr before the dace suecified. in the notice
<br />may result in acceleration eF the sums secured. fry' this Mortgage, fnrzdosure. hyjudfcia] proceeding and sale of the Property.
<br />The. notice shag furtherinforml3orrower of the rightk> reinstate after acceleration and theright to avserfin rise foreclosure
<br />.proceeding the non-existence of a,default or any other defense of Borrower Sa acceleration and &irectusurr, if the breach
<br />is not cured on or before the date specified in. the notice, [.ender at header's option may declare aU of tbg .corns secured by
<br />this Mdrigage to tic imasediatzly due and payable without farther demand and may rorecfosz hy' judicial proceeding. lender
<br />shall beentified to coifed in such proceeding alt experssesof foreelusure, including, but nee ::invited to. costs of documentary
<br />evidence,abstraces and title reports.
<br />I4_ Rorrasver's Right to Reinstate. Th utwithstandi:;g T.rnder's nc.cclcr,ation c>f tt~ -v;ms ,.arcd b ,L+i; h^.nrtgegc.
<br />Borrower shat} hate the right to have any proceedings begun h Fender to ~ fc:rce the; ~+fortga~ nxcoartir t,ad at app time
<br />
|