|
CO
<br />~' Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />Cad manner provided under paragraph 2 hereof.
<br />r-1 Any amounts disbursed by Lender pursuant to this paragraph 7, with i^terest thereon, shall become additional
<br />~ indebtedness of Borrower secured by ibis Mortgage. Unless Borrower and Lender agree to other terms 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 shall bear interest at the highest rate
<br />~ permisstbie under applicable law. Nothing contained in this paragraph 7 shall require Lender to inwr any expense or take
<br />~ arty action hereunder.
<br />& Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shaA give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Coadematbn. 'the proceeds 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, or for conveyance in lieu of condemnation, are hereb}• assigned
<br />and shall be paid to Lender.
<br />In the event of a total taking of ttu Property, the proceeds shall be applied to the sums secured by this Mortgage,
<br />with Cite assess, if any, paid to Bottowec. In the event of a partial taking of the Property, unless Borrower and Lender
<br />othetxrise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Harrower.
<br />If the Property is abandoned by Borrower. or if. after native by Lender to Borrower that the condemnor offers to make
<br />an award or settk a claim for damages, Borrower fails to respond m Lender within 30 dais after the date sucb. notice is
<br />[nailed, Lenikr is authorized to collect and apph• the proceeds. at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing. an}• such application of proceeds fo principal shall not extend
<br />or posiporx the due dart of the monthly installments referred to in paragraphs 1 and 2 heteof or change the amount of
<br />such iratalirtxatts.
<br />"~ o ~. 1sI..-^~ ' _..°~~::s.w ~ t R :.m° frr Y~v - °w caiiar~ -
<br />..~ °°.E,:t v, - of aa`nariicai~pn of the sums stctiicd
<br />by this Mortgage granted.by Lender to any successor in intcrest,of Borrower shall not operate to release. in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proxedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by eraser. of any demand made b} the original Borrower and Borrowers successors in interest.
<br />11. Ferbea:asee by Lade[ Nat a Waiver. Any forbearance by Lender in ezrrcising an}v right or remedy heretmdtr, or
<br />othetwi~ afforded by applicable Saw, shall not be a waiver of or prccludc the exercise of any such right er retlte~dy.
<br />71te pracurgnent of iasutartce or the payment of taxes or ether lints or charges by Linder shall not be a waiver of Lender's
<br />right to accelerate the tnatmity of the indebtedness s-salad by this Mortzage.
<br />12. Rat Cam. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded try taw ar equin•. and may lte ez.rcised concurrently, independently ar succegively.
<br />23. Ssccsasa lard Aasigas ssant~ Taint and Several ice; Capioas. The covenants and agreemrnts herein
<br />rxmsained sbaB bard and the rights hereunder shad inure [o, the respective successors and assigru of Lender attd Borrower.
<br />subject tit the provisioac of paragraph i? htrcof. All covenants and agreements of Bottoscer shall be joint and several.
<br />17se atptions and headings oL the paragraphs of this Mortgage arc for rnnvenierw^e only and ate not to be resod to
<br />wttetprrl m define the provisaor~ hertaf.
<br />11. Nsttia. F.actp[ far any notisx nequirrd under applirabk law to be given in another manner, fal any notice to
<br />Borrower provided far in this Mortgage shall be given by mailing such notice by ctrtifled mail addressed to Borrower at
<br />the Property Address as at sttth other address as HorrewYr may designate b}~ natl..-e to I.endrr as provided htrcin. and
<br />ib) any mtri:r3e to Lender shall he gi><en by C~tilSed Inail. [earn trrtipt requesxd. to Lenders address stated heron or to
<br />ash alter address tt Lender may desigale tr}• native to Herrotxer as provided herein. Any notice provided far in this
<br />Mnrtgag+e stall be leaned to has[ bout givrn to Bnrrttsrer or Lender whrn given k the auntxr designated herein.
<br />13. Lrettaee Garsaraist~ Law; Sevrs>li&y. 1}tis farm of mortgage citrtttirxs uniform covenants for nattana!
<br />tae tend non-tutifarm svenants >R°sh limited variaxians by jttrisdiCtxttt w constitute a uniform strurity instntment covering
<br />.'~' '. 'Ik;; Marti s ;all 1~ ~:xrred tsy rlsc law cif ihr iurisdic~tse~ in s°itich the i~raperty is locates. In the
<br />ese~ tat any provisictA ~ lease oL this Mortgage or the Vote conflicts with applicabk taw, such catflict shall net affect
<br />orhe psovisioa d this Mortgage ar the Note tshictt can be given effect +siihotn the confliMiAg prOVlSiOn. and to this
<br />end the petvrisscvars of the Mote ,fit and tht \oto are deelare~d to be 9rvtrabk.
<br />ItL. lfsesswer'a Caps. ttostowcr shall be furnished a ttxtformed rxvpy of the Note and of this Mortgage at flu time
<br />of atcusino os after rtvastiatian herrc~.
<br />17. ?+afeshr d Ile I"ra'atr, If alt or ::ry part of the Praperry or an interest therein is sold or Iraasftrrtd
<br />bye Borrowev >`•lhettt Leader's prior wrinen caatsent. exclttling tan the :[ration of a lien ar ettcumbratsce subordinate to
<br />this Ittortgsye, tb) the eseatioe of a put~tsase scmev sa-unity illtetut for hcwseho{d appliances, icl a transfer by devise.
<br />loess oc by upOrattOA of law upae itx death .lt a ~tnI tentttt o r idt the gran[ of any kasdtold interrat of these years or less
<br />'~ as op~ot m Y.a•^'...atse. l.r~ may, n Lender's Pico, declare all the stints insured by this Mortgage to be
<br />° doe and payahk. Leader sha13 have K•aiva3 such option rD acxderatt 'sL, prior to [ht sak Or transfer. Lender
<br />and rbt piston to r•hmi® the Ftngttrty is to ix sold or traasfertrd tcaclt agreement in writing that fix credit of such person
<br />is s>sti~acsostr to Leader asd that ffir inttssst pa;•aisk on the aums sactared h} this Mortgase shelf be at such raft as Lender
<br />trbafl rsxlsteat K Lender [tat waived the itptioa to acreientt provided in this paragrapl: 17, and if Borrower's soccaaor in
<br />lets emes€I s ut-ir~ attest ; avx+epted in -r.-ritiAg by Lrndtr. Lender stsaII release Borrower tenter aB
<br />albmt tmd;s Eta #ot~e aad the -tilortc.
<br />If lender' + sath optioA to mane, LeAder shelf man Borrower tmticr of accekntion in accordance wil:
<br />pttah 14 heseetf. Such notice Iswridr a period ~ ttm kas than 30 da;a faun the date the notice is Atailyd within
<br />niech Daerasser may lay tht sums deciatrd due. If Itcxrovser Laik to pay such sutras prior to tht expiration of such parted,
<br />L ~i• rs f;~~s azrce ~ de~snd an Hat~w~r, invoke :ity rrmrdin permitted try paragraph 16 hereof.
<br />I~st.;.#srtfoasn ~. tiotttawer and Lender further covenant and agree as foliaw::
<br />ItR Aealteafia~t lrnxndkt. >~ s ptrastied m ptra~st*ti n awed, [span t{xvaweYn mead[ d trey cw.+aaxst ss
<br />eitreeed d Ilsesa~nser L tfYia llias~tpe, ieremiiag rde caveaan/a to !aT +sia lee ay s~ noosed ti] tits Morlprge,
<br />[aloe paint la teeatetseea ttix{ ttttslti entree M iatarwtr m prsrlded b psaEttspti 14 coxed spacNylstg: LII tie tistr+sr~
<br />~ Asa tsslsa tsst~itael i rtes noel: ~ {~ s dtse, eat less ~ 3B days fsate ie dtfe tlst aa~cc is maHad m Iareaw~s,
<br />tss wik# tttttttit inetaci sees[ it ~ trod tit Itiat t'alire fo art ~ mead ao er idare tie dsAe special ~ tYe extkt
<br />ttattd ttetttilt m attoeltseire d ie ttws ,ttacesud by flits Maet~e, taeedoaore Try peaceadL~ al earn d [tie prai~7•
<br />'Ilse stf>im [tire/ >lYr~ hits )gaass+sm sf Ile ttt~t b ttsieets~e titrx acedaetlea aai ttie right ~ assert is tin: fotreelaeee
<br />_ preoeetllttH fee exr+.deieetw d a dtnlseit ar ttnry slier deiasstte of 7issswwar is ecceJaatltw tntd fanckaore. If tie breecti
<br />tit tart tte~ se or iMleae fir dale fptsifxi m ie eeftes, Lanier as Leelea's aptisst nary deefare aH d Rte noes termed ti7
<br />iii[ ti6rlp~e Y cot id1 rise tttnd pttf3etiia ssiiseR taxYser deteaei arl aray fatrteteec by jtsiieW ptoreeilwL. Ltsder
<br />ttisti tie srwa6sd tit eaiMe# Y ^errle pnpoaeix; ell e>;parsss +~ fna:dase, ttsemdis~, bet aaA to„ cants aE dttettmeetlary
<br />~~
<br />~. lisextnra`1t tt~;tit b Nasanding Lendtsa ar.CekrattoA of the sums stcurr~ by this Mortgage,
<br />tterrOwa• sira8l~se tbie right to bane nay peooandiags beguA by Lrn&r to enforce this Mongagr discontinued a[ an}• titAe
<br />
|