|
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, shall became additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such
<br />amounts shalt be payable upon notice from Lender to Borrower requesting payment thereof, and shall tzar interest from the
<br />date of disbursement at the rote payable from time to time on outstanding principal under the Note unless payment of
<br />intetrsi at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragnph 7 sha}1 require Lender to incur any expense or take
<br />any action hereunder.
<br />S. fmsQeetion. Lender may make or cause to bt made reasonable zntries upon and inspections of the Froperty, provided
<br />itiat Lender shall give Borrower notice prior to any such inspection specifs-ing reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />4. ~Coedemitat~a. The proceeds of any award or claim for damages, direct ar consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof. or far conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a total taking e,` the Property, the pn~rceeds shall tee applied tc. the sums secured try this Mortgage,
<br />with the excess, if any. paid to Borrawzr. In the event of a partial taking of the Propzriy, unless Born~wer and Lender
<br />otherwise agree in writing, them shall be applied to the sums secured by this Martgage such propartian of the proceeds
<br />as is equal to that proportion which the amoont of the sums secured by this Martgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior ro the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Proptm is abandoned by Borrower, or if. after notice by Lender m Borrower that the condemnor offers to makt
<br />an award or settle a claim for damages, Borraw•er fails to respond to Lender within 30 days after the date such notice is
<br />mailed Lender is authorized to rnllect and apply the proceeds. at Lender's option, either to restontion ar repair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Bart•ower otherwise agree in writing, any such application of proceeds to principal shalt not zxtend
<br />err postpottc the due dare of the monthly installments referred to in paragraphs 1 and ?hereof er change the amount of
<br />such installmtttit.
<br />1$. iaarrpwp Pioi itttiraaed. i=xtrnsion of file tint for payment or modifscation of amortization et' the sums secured
<br />by ibis Mortgage granted by Linder to am• strcttssor in interest of Borrow•tr shall not opente to release, in any manner,
<br />the iiabelity of the original Borrower and Borrower's succtssars in imercst. Lender shall not be required to commence
<br />proceeditrgs against such successor or infuse to extend time for payment or otherwise modify amortization of L`te sums
<br />socu.•Yd by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
<br />11. Fotirx•asct i!r Lenekr'.Vot t R'a#ser, Any forbearance by Lende* in exzrcising any right err remrdy hereunder, or
<br />oilvz-resist atlorded by applicable Saw, shall tact 6e a waiver of or preclude the exercise of any such right or remedy.
<br />The pracarcmtnt of ittsuranee or the payment of tarts or otfier liens ar charges by Lender sha13 not be a waiver of Ixndtr's
<br />right to accelerate the maturity of Btr indchitdttecs srrurrd by this Mortgage.
<br />!2- Roaedirs G~alatlvt. All rtmrdits pra.ided in this Mortgage arc distinct and cumulative to any other right or
<br />remedy under this Mortgage err atfordrd br law or equity, and may be cxeecised concurrenth~, independently or successively.
<br />23 Saceraors ird ~ Hoasda Jois# sad Se•tt•~ i.ia6~$itt; C.aptioas. T?ee covens»ts and agrremtnts herein
<br />csmtairtid Shild hind. and the rights lx'!-::nder shall inure to. the resptctive sth'~essars and assigtn of Linder and Barnowt:r.
<br />stthject to the provisions of paragraph 17 htrtaf. All mvenams and agreements of Barrawer shall be iainz and several.
<br />Ter options sad headitsgs of the paragraphs of this Martgage are fur convrnience only and are oat to be used to
<br />interpret or tit:fine the previsions hereof.
<br />If. nietiea E;ttpt for any ttceix toga-i_*rd under applicable law to bt given in artother manner, fal any notice to
<br />BorroRCr provided for in this Martgage shall t+t grvrn by mailing such notice b} cr,-tified mail addressed to Borrower at
<br />the Froperty Address or ai such other address as Barmwrr may designate M' native to Ltndcr as provided herein, and
<br />tbl any noti.^e to Ltttdcr shall be given by certified maxi, retvm rrreiai rtgiteued. to Lender's address stated herein or to
<br />such atntr address as Linder may dfsignate {+v' rtoritc t. Bcst7P.wrr as prov°ided htrei^. Any nutlet provided for in this
<br />Martgage shall be dr~med to i,evt bete given to Barrewer of Ltrdtr when giv'rn in the manner desii,:.atrd betrKtt.
<br />iff. Ut~orm Martgage; Go>•ersatg Law: Stveraltilir}. This form of mortgage combitra uniform revenants for nstirnal
<br />case and nets-unifurm covenants with limi±ed varianms by jurisditti~re to constitutz a uniform secunn• instrument covering
<br />real propertu. This Mrntgagt shall be governed by the law of tht jurisdiction in wfiich the Property is located. In the i
<br />t--tail tlisi ar.y prc'r+issar, c~• clausz of this T.$ortRagt err .hr More econfii~ts wide applicable iaR, sueit tonRict sitaPr oat afrec't '•i
<br />other provisions of this Mortgage or the tiatt w'tn:.h can be eivxn effect withivut 2ht cantlicting provision, std to this
<br />and the provisions o€ the Mortgage and the ~:+tr art declared to be severable.
<br />lt[. 1io:rosnr`s Copy. Harrower shall t+c f'=tn=shed a ~nfarmed :spy of the Note and of this Mongagr at the film
<br />of cxeeutic~t nr after rtrordrtiott her~f.
<br />IT. Trarrftr of tie B4a~estr: if all or any pan of the Pmpem or an interest tlxrtin is sold or transferred ~
<br />lay Bnrrt+wxr witleLNrt Trade{s pmu written cansrnt. ec~taling ter! the creation of a lien nr t:ncumbrance subordinate to „~
<br />this Mortgagr, ft+l the crealiaa of s purchase mc*nc> securin~ mtertst for hv'tusehold app!iaraccs, fcl a ttansfcr 6y° devise, °'
<br />tieacma or by operation ai law upon aht dinth of a joent tenant err rd~ the grant of any lcatehold intctrst a: three ycan or less ~
<br />tstat aaatminbtg err, option :o putchaae. L~xler may. at I.etu~r'v opt`vn. decl-arc all the sums r~u:ed by t!:is Mortgage to be
<br />imzttectiately der attd payable. I~nder shay] ]caul waved such option t.~ amtkrate if, priar so the sale or transfer. Ltnder
<br />and ter pcrttar to w°hom :.he Pro7e;-ty is to bt sa{d x transferred tea,^.h agtrettxni in w-rsiing that the credit of such person
<br />s zatisfaston i<, Leadis and that tar iattrest payable on the sums sertued by this Mertgagt shall be at such rats as Leader
<br />shall roquest. If !_atdet has waived the optic n ro accelerate provided s» this pangnph 17, and if Sorttrver i strccessar in
<br />IntLreat has eaP.Ctited a RTftMa assumpiltan agretitunt aCCtp2ttl rn wTrirng try Linder. Lt#tdef Shell release Borrower from 8ll
<br />abltginirns alder this Martgage sad the Note.
<br />I£ Ltstder exorcists such option to acceleratt. Lender shall mail Borrower notice of ac~;elention in accordance with
<br />paragraph l3 htteaf. Such ntrtiae shall provide a period of not less than 36 days from the date iht notice is mailed within
<br />whicEt Btxroa•tr may p:ty tYr sums declared Sur. i# Harrower fads °a pay° such xurns priar to the zxpintion of sixth period.
<br />Leader iaay, w-ithtn#t furihtr aativ~ or demand on Borrower, a»vole any rctsvedies petmrtted by paragraph 1 g hereof.
<br />N~-itt+*~astu ~L'^v~~a'~. Bo=-rosztr ara L~ra~r fur ;n r `~.vc;.a,,. a.~' :gam as f~l~ s:
<br />ii. Atmi~aap fteaae~ea. l[atepi r provided la paragraph IT hrreoG epos Borroter's 6reye6 of eery coveaast or
<br />a d 16a#~rosetea Y iii M~tie. itie cosrsasis to par .rhea tae tiny iwata oersted by thk Mortgage,
<br />ILsier paisr f• accNeesttlsr a1W ~ aodre to iwaewer as provided iw parttgrapi 14 latest apeci(ytag: il) tie btdcb:
<br />fa) tie aeliss tt#plited to tie ttatti troth; (3) a daae, sat leas tiers >8 days frost the date the noeice k mallyd to Eorrawer.
<br />h wlieh astir liertaeft >~ ik e~ iri i4) t-at fsfire ~ ere secs iteach os or iefore the dau apeci6ed ~ tic ttatire
<br />~' remelt i• saceiatatlas of i}t tines asrascd by dde Motlpge. foreelaBS•c by jodir3d praeeedit>; n+d tattle of the Property.
<br />lie sdics air] fsetier ~fna isrrswn rt tie rl~ b intltsWte >dEU acceJerados sad tie sigh to assert ~ the foterlosnee
<br />¢rscastiitg ire ass-cda6estce a[ a dehsit as try slier deteare td lormwv to arrsierstioo od foreetesare. $ tree Ereaei
<br />k sail tsted es ~ btdsee tie ia4 apet~l la the entice, l.esder at L+reder'e optlar soy deelsre ~ of the att>o4 aeeared by
<br />tiler m 6e Ise~dy tihae aed paaaik wYAors farrier drtesed sad say foreclose by }tsikid procsediaeg. Letttlrr
<br />alai to etatltlad to r le asAr trooeedirg tt9 e:peatss d fonecbasre, tacisdloe, bin trot tlmNijd to. costa of docatatestary
<br />esYrre, sfatittatts ad lMk tepoe4.
<br />b. JSrtnwes's RigiE Y Natwithatandit2g Larder's acrxkration of the sums secured by this Mortgage,
<br />Bartotrer ahsB have the right to hztvt airy prixixdiags begun by Lender to enforce this Mortgage discontinued at any time
<br />
|