|
Lender's written agreement or applicable taw. Aorrower shaft pay rtes amnunt of aft mortgage insurance, premiums in the
<br />manner provided under paragraph 2 hereof.
<br />~} Ary amot:nts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of B~*tower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, sucfi
<br />~S7 amounts shad 6c payable upon notice from Lender to Borrower requesting payment thereof, and shall tsear interest from the
<br />date of disbursement at the rate payable from time to time nn outstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts chalk bear interest at the highest rate
<br />' permissible under applicable kaw. Nothing contained in this paragraph 7 shale! require Lender to incur any expense or take
<br />~' any action hereunder.
<br />8. Inspecfion. Lender may make or cause to he made reasonable entries upon and inspections of the Propert}'. provided
<br />that Lender shah give Aorrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in ih': Property.
<br />4, Condemnafion. The proceeds of any award nr claim for damages, direct or rnnsequential, in connection with any
<br />condemnation or other taking of Ehe Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />in the event of a total taking of the Property, the proceeds shall M applied to lire sftms 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 he applied to the cams secured by this Mortgage such proportion of the proceeds
<br />as is egttai to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking blears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid m Borrower.
<br />if the Property is abandoned h;' Borrower, nr if. after notice by Lender ro Aorrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within ~0 days after the date such notice is
<br />mailed. Lender is authorized to coifed and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Pmpery nr t« the sums secured 6y this Mortgage.
<br />Unless Lender and Borrower nthenvrse agree in writing, any such application of proceeds to principal shall not mend
<br />or postpone the due date „f the monthly installmcrts referred to in paragraphs 1 and ?hereof or change the amnunt of
<br />such installments.
<br />10. Borrower Not R=teased. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mnrtgs=: grant+•d h+• Lender to any successor in interest of Borrower shall ern operate to release, in any manner,
<br />the liahilit}' of ;Ire original Aorm»kr and Borrower'; successors in interest. Lender shall not be required to commence
<br />proceedings ;:eainst such successor nr refuse to extend time for aavment nr otherw•i,e mndifv amortization of the sums
<br />secured by this Mortgage i+y reason nt any demand made b}' the original Aorrower and Borrowers successors in intcrest.
<br />11. ~brbearanee by lender 1Fot a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall noC tx a waiver of or preclude the exercise of any such right nr remedy.
<br />The procurement of iusurance. et the payment of tnzes or ether Liens nr charges by Lender shad not k+e a waiver of Lender's
<br />right to accelerate the maturity of the indkMedness secured by this Mortgage.
<br />]2. Remedies Camulative. Akl remedies provided in this Tvlortgage am distinct and cumulative to any other right nr
<br />remedy under this Mortgage ar afforded by law ar equity. and may he exercised concurrentkv, independently or strccessively.
<br />13. Successors and Assns Sound; ]oint and Severei Liability; Captions. 'The covenants and agreements herein
<br />contained shalt hind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Bormwet,
<br />subject to the provisions of paragraph 17 hereof. Atl covenants and agreements of 8ormwer shalt be joint and several.
<br />The cap*,i:, and headings of the naragraptts of this Mortgage are far rnirvenience only and are not to rte used to
<br />interptxt ar^dcfinc the provisions hereof.
<br />14. Notice. Except for any notice required etnder applicable law to be given in another manner (a) any notice ro
<br />$nrmwer provided for in :his Mortgage shalt tee given by mailing such notice tsy certified mat! addressed to 8nrrnwer at
<br />the Froperty .Address or at such other address as Borrower may designate by notice to lender as provided herein, and
<br />tb) any entice to Lender shalt !x given by certified mail, rctum rec+~ipt requested, to Lender'., attdr~s stated trer~itt 4=r t~~
<br />stteti other address as Lender may designate h}• notice to Borrower as nmvided herein. Anv notice provided fnr in this
<br />Mortgage snail ire dkented to h;tve iron given to Aorrower or tender when given in the manner designated herein.
<br />13. lilnifort€t Monga#r; Gaveruiug Laa; SecerabAity. 'This form of mortgage combines uniform covenants for nati+znat
<br />_ =~ nr: ~ - ~ - - ,.e.,~r.a .... ~ limifert v- -' -`° '- `- - -ixt f' - -isf iftvfe a urisf..r ~ .°'ttrefy '-situ ~enf ~ -._ ng
<br />~_iLL ~°tt~~~it;~tgo F-a!! t~ r*r-d~h_- ik~ :w .r. the ;.t. ~;.3i ire whRb it:~ ps3~rit -c l :~a;b~. rT^ t#.f
<br />evC~nr liia[,3r,Y prnvf~ ~C 4:" £t- Sl' nt tor. 44 net=9z~tk '?r Ink. M1nlC t'!?!fntill with ap{pttC3t+!k ra4, 5„kti i;+`trrtlct shai4 n+?t 3tt$St
<br />ott;"e ..._ of the, asp., .,, thk .'?o` ...,,..h w,~ etTe- R.tta::~,, t!~,e ktn.ftx. ._.z~~., a:.:l :s- t:;s
<br />end tfte'_pruvisinrrs of the ~iurtgage and thk 'Vote are declared tai he severable. -~
<br />i~. >~rracvtr's t'ep.;. ~U`orrower ;ttsll t+o fttrr;ihed :: cnn[:;rnred leeiry of the Note anst of thi, `~l++rtgage at the titre
<br />of exkcutinn or after recordation hereof.
<br />17. Transfer of the V'ropeny; Assumption. if all or any hart of the Property or an intkrest therein is sold or transfrrrkd
<br />by Barru:++:r without iender's prior written consent, :xcluding tai the creation of ;t lieu ar encumbrance sut+ordmate rf
<br />this Mortgage, {h1 the creation of ., pur::hase money u'curity intrust to+r household appkianees, fs? :e Transfer by devisk.
<br />tless:ent ur by operation <,f law uix~n the death of ;: joint tenant or t+ti the gt ant r+f art}' ieasetiokd mtrrtst of theca k2ars +tt less
<br />not eanfaining an option t.. purchase. Lender may.:u 1 lender's opnon, declare alt the sums secured by thrs Ainttgage to he
<br />itnmeeleately due :rod payable. tender ,hall have waived such option tc, ;iccrlerate if, prior to the sate or transfer. I.endar
<br />and the person iu whom the ProFarty i. to be said or transikrred rca~h ;i~reement in +vriting chat thk credit r+f ouch person
<br />is satisfactor}~ to f.cnder and that fha: interest payable on the sums secured hk this Mortgage .halt be at such ;ate as t_kntlee
<br />sl:a!t revue:,. tf t ;•.nclkr has waved fhk a pt €,n h...z..elrratr provided ~„ this ~fra);raph .and if @ormw -, , .., nor in
<br />interest has executed ;+ written asstauptian agreemrr,t acce;ated in writing by 1 ender, Lemler .hal! rekeaw Aarr.~sri~ftam atl
<br />nbligannns under this htnrtgage and the Nate.
<br />if f_endzr enlereises such aptia^ so ac+: ateruk. l.en<icr .hall mat( Eh+rror+rr ui,ticc of acccterauon in aecordan+:r- with
<br />t+araraph 1J hrreef. Such notice shall ^rovidc a pcrit,ct at n.,t !c°x, than 1tI .tat, from the date the noit+:le is mottled wither
<br />which Borrower pray pay the :erns declared due. if Burrower farts ra pay curb >ums prior to the rxpirati<nr of ouch per~<xf,
<br />Lemkee may, without further nonce or +tktnand on Aorrower, atvokc aftp rkn+rdics permuted by paragraph !8 htrenf,
<br />i::>=-l.'~i~iia ~x r. .si _ ..rrr.vic'r •lifil t.c }fir {ntttte r+~nanf ,rft.t r;e,tTe 1 r,itr: ts:
<br />tg, ~!:~•~tae_t~r.; l+s~ t:,_rept « pror}~d ~ pn-~r :? hrre::f. ;opon Ros;gn~~, ~ tu^s„°HA t:# ss; rass..~at ssr
<br />agttreutent tit 14urrawer in thD: k'tur€ytrge, irtriadir'~, the corenanh to pay when doe any :rums secured Dy tb~ hiw#gagt,
<br />fader prhr to rkecttari~hrou ah ru~T mrflcz to Besrroarr ~: pra+<~d is parar~,raph I.1 harrijE spteifyit il} tttn bleat-A;
<br />12) th+: a+et#otr rt~alred to cote saeh breacht t31 a date,. twt tees than ;tH days from the date the notice ks matted to t3orrowcr,
<br />by whkh ouch breach must ha' sated; and t8) that taNurr to care sash breach an ur brtore the daft specified in the rtotke
<br />may t~aA to aceaTrrarlon of the solos secured by this ~iortgttge, fomlusure by tttdlchd pnaredirtg and !isle of the Ptvperty.
<br />The terrlice sletd! farther is#arnt Borrower of the right la rrisxtate after acceleration aaA the right to risen ~ the foreclosure
<br />praeeedTug the tmn-exlsatencu of a del •aN w aay other detrtaae of Borrower to acccieratiaa and forerlosare. tf the Areach
<br />' ds oat cared on or before the date ~Ca~lBed to the ttwtlee, t.eaeler at leader's optiaa may dechtre a!1 of the saran secured by
<br />thin biartgage to br lmntedia[#1y dire alai ~yaDk wstitwtt fttrUxr detested trod tray fatrelou by jadicial proceedi~. [.ender
<br />she!! he tnt#'led to raft is sneh pr.~_-"_~ >~ expett~s of foreckrsare, iachtt. Dot oat Amtted tw cotes of docamrnlary
<br />evince, abstracts aa+d title reports.
<br />%9. $orrowet'a iriZtat re iceiatdale. Notwithstanding Lender's acceteratinn of the sums eectrred by this Mortgage.
<br />eortnwer shalt have the right to Have any prcxeettings txgun by° Lr;nder to enforce this htortgagr discontinued at any lime
<br />
|