|
Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance i;remiums in the
<br />~` manner provided under paragraph 2 hereof.
<br />*-^ Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />ti,:. indebtedness of Borrower secut+ed by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />„~, amounts shall be payable upon notice from Lender to Horrawer requesting payment thereof, and shall bear interest from the
<br />t daft of disbursement at the rate payable from time to time on outstanding principal under the i3ote unless payment of
<br />~mterrst at such rate would be contrary to applicable law. in which event such amounts shalt bear interest at the highest zeta
<br />~permissibk under applicable taw. Nothing conuined in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. ImspecEion. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender s
<br />interest in the Property.
<br />4. Coademraation. The proceeds of any award os claim for dama¢es, direct er consequential, in connection with any
<br />candemnadon or other taking of the Property. or part thercaf, e: for conveyance in lieu of condemnation, are hereby assigned
<br />and shalt be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<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 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 in 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 ProPertlr is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply 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 w principal shall not extend
<br />or Postpone the dce date of the monthly instailmants referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such ittsiaRments-
<br />lfl. Huamt-er Nut Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Morteattc slanted b_y Lauder to any successor in interest of Borrou•tr shall not operate to release, in any manner,
<br />Elea liability of the original Borrower arts Borrawers successors in interest. Lender shall not be rtyuuw to ..v...°°°°~ "e
<br />prasxedsngs against such sttccessar or refuse to extend time for payment or otherwise modify amortization of the soma
<br />secived by this Mortgage by reason of any demand made by the anginal Borrower and Borrower's successors in interest.
<br />11. F+eriearmce b• Leader Not a R'airer. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />othetsrise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The proctrtemrnt of ietsuraaee or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender s
<br />right to accelerate the maturity of the indebtedtxss sectrred by this Mortgage.
<br />fi Reaae~es CSaaec• All remedies provtded to this Mortgage are distinct and cumulative to any other right or
<br />nxteedy utttleler this Mortgage or afforded by law ar equity. and rosy be exercised concurrentN. independently or svccessivdy-
<br />I1 Saece~ sad ~ Ilo+md: 7ai.t and Sevtval I.rv; Cam. -[lee covenants seed agreements heron
<br />~rtaioed shag bind, and the rights hereunder shall inure io, the respective successors and assigns of Lender and Borrower,
<br />wbiet to the provision of Paragraph 17 hereo#. At! covenants and agrrernents of Harrower shall be joint and several.
<br />'t'he uptians a~ headings of tlee paragraphs of this Mortgage are far convenience onh• and are hat io be used to
<br />inaerPrei tx define the provisam hereof.
<br />ld. Ndiee. F.ioept for arey notice required under applicable law to bt given in aaoilrer manner. (a) any teotitt M
<br />Borxaser provided for in this Mortgage shall be given by mailing such notice by certified mail addressed ta Borrower at
<br />the Pattperty Address or a[ such other address ss Borrower may designate by notice to tender as provided herein. and
<br />(b) my notice to Lender shah be given by certified mail, return receipt requested, to Lenders address stated herein or m
<br />snctr other address as Lender may designate b}. notice to Borrower as Provided heron. Any notice provided for in this
<br />Mcstgase shall be deemed ro have hero given to Btarrotver or Lender when given in the manner designated httein.
<br />13. i]aYaaar M Gu>rnsitsg;,ate; Severaiitr. 7lris form of martga$C combines uni#orm covenants far natiotsai
<br />use and t[on-uniform cereaattts wiffi lanited variations ty jur'rsdirtian to canstitvte a uniform see:.^ity instrument rnveting
<br />teat paoperty. This Mortgagt shall be gavrmed by the law of the jurisdiccorr in which the Property is Iacaud. In the
<br />evratt that any provision or clause of this Mortgage ar the Note conflicts with applicable law. such conflict shall ntx alfact
<br />other provisiau ~ this Itdortgage ar rise More whleh ca.~ 'x givetr drect witlx+u4 the conflicting provislerr, and to this
<br />end dse pravisioas of the Mortgatge and doe l`dc are dx(ared ro be severable.
<br />lf. Iiaras~rea'a Gsn. Borrower shall be furnished a ccmfarmed copy of the blox and of this Mortgage at the tithe
<br />of excctstiort or after tecardatson hereo#-
<br />17. Tttmeter d 6e ~Yt Aaaamltiar. If all or an}• part at the Prapcm• or alt interest therein is sold ar transferred
<br />lty Boncewrr without Lrazkr'a prior written coaster, excluding tat the cratti~ of a lira or encumbrutce subordinate to
<br />tl;is Martgsge. ib} the ceation of a purchase money stxurity inurat far household spptianxa, (ci a transfer by ~~:
<br />tines or b'y operation of ~w rspna the death of a joint tenant or tdl the grant of say leasehold intertst of then years or less
<br />txx cxtataiai~ an option m putthaat, Lender may, at Lendtr"s option, delete all the sums secutt~ by this Mortgage to be
<br />due and payable. Lender shall hase .a-sis~ s..ch aptiort m accelerate if. Prior to the sale or usnsfer, Lender
<br />aa~ tit r'~'X'R to wham the Prapraty is to bt add err transferred reach sgreemart in arititt; that the credit of such person
<br />h sMdaeuxy m t.treda sad thu the interest parable ~ the wtns secured by this Mortgage shalt be at such rate a Lesdtx
<br />mall U I saedG ;ma craved t§e opec~ to morass provided in this paragraph 17. and it tiorrwtver's stecoaaor in
<br />itiS~t has tntect~d a wrHtlat altaamprion atsr~ast sacepted its writing by Leader. Lender shall re(case Borrower ffgn all
<br />onions raider the ldostgaaHee atxl the Ntsm.
<br />R Leander etxttaressae mr~ opsiQn m aceslerssc. Ltstlcr shill malt Harrower notice of acceleration in accordance xidt
<br />~rh Id betttoi. Sate tsariar sha13 pmside a period d txx less than 3U days tenon the data the notice is mailed within
<br />te~ci Harrtt~wer may pay the ~ dectarcrri due If Horrowes faih ro pay such sztms prier to the expiration of such period.
<br />Leader any, ttrititwat further atttice or demand am Harretvcr, invoke any ttttttdies ptsmitttd by paragraph 18 hereof.
<br />I~-tJt+avtetr Covataxts, Horrors and I~dcr #urther covetunt and agta as fdiors:
<br />ifi. >ta~ ~ a IN+triie+ L t+~ant;*agie 17 itteasof, ragas irrrstatctrta Iiarearlt of .ay eoR,easast or
<br />atpreseat at )aet+arar b fads iadadhrg tlae caveaatatk is gap tries dae aer area asaatrd if rile Mbrlpge.
<br />fi.~iar gtttar M redleaaYaa tial sari tasdsr to Risnrsrer ar grurlded is pnHrapi t1 -ereot aKeNykt~ (1~ tie Eatraclt:
<br />~ tfYe sttlaa ttaryatkai t• +aw seal Msaat# (3} a date, art ks ttw 36 ~ troy rie date lfae araNte fa mated b Eorres-:r,
<br />!gr Mkt tree! Iaaaelt tttt~t M aaeei; sad (dI fiat[ frdlare ~ case wc3 iaeaci ua x bdere !ie sad ~ 'hal~!-
<br />mitt7 maait L aaaaimatlaa of etecams taseaasi i}' rile f M !'!:
<br />'!#e settles taTri ibairatr iataaat iaeasarer d rite r3a3at tr eaiadaRe ttdiar accefetsiiue sad Mtc r~it ie reseal !ae tie feradaerae
<br />)lwc~aritR tie aar~ealaleaas ad s dataait ar >er7 apner ddaaaa at lioarasrer M a~esderatior and foredaave. H tic bseaei
<br />~' ~yt~ r[vaiie *YMat tacSer d~amat and may f eee+e+e yi jo~ebl~roce~s• t.eatder
<br />isi ie aartlAed is aairtt is seal }ne+>a~eg ai + at losaderare, irclydlet• lent set limited to oasts of docrm~dary
<br />asiiemee. aista,cla aai tlHe aetaatts.
<br />~ ~~ ~ ~, I3otritiAanding Lender's acceleration of the sums Secured by this Mortgage,
<br />Ha'tosreer >~ blase tie tisbt to have any pteooedittga begun by Leader W enforce this Mortgage discontinued at any time
<br />
|