|
~~r WVJ4L.7a7
<br />Lenders 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 iherecn, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower reyuesting payment thereof, and shall bear interest from the
<br />da€e of disbursement ai Ghe rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate would be rnntrary to applicable taw, in which event such amounts shall bear interest at the highest rate
<br />permissible tinder agglicable law. Nothing contained in this paragraph 7 shall requite Lender to incur any expense or take
<br />any action hereunder.
<br />& Inspection. Lender may make or cause to t>e made reasonable entries upon and inspections of the Property, provided
<br />that Linder shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Caade®natbn, 71te proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />rnndemnation or other taking of the Property, or parE thereof, or for conveyance in lieu of rnndemnation, are hereby assigned
<br />and shall be paid to Lander.
<br />In the event of a total taking of ibe Property, the proceeds shall be applied ro the snms secured by this Mortgage,
<br />with tlu excess. if any, paid m Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree ir. writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proporiian which the amount of the sums secured by this :Mortgage immediately pride to the date of
<br />taking bears to ~'te fair market ~atue of the Propem• immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Barrowv.
<br />If the Property is abandoned by Borrower, or if, after nntice by Lender to Borrower that the condemnor offers to make
<br />an award ar settle a claim far damages, Borrower fails to respond to Linder within 30 days after the date such notice is
<br />tnaitat, Lender is authotiad to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property ar to the suttts severed by this Mortgage.
<br />Unless Larder and Borttnver aiherwire agree in writing, any such appiicatien of proceeds to principal shall trot extend
<br />,~ postpone the drn date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments
<br />10, 76orr9ww NaM Rrieased. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Leader to any successor in interett of Harrower shalt not operate to release, in any manner,
<br />the liability of The arigirsai Borrower and Borrower's suc.'~essors in interest. Lender shop not be required to commence
<br />Prc>ce~ittgs against such snt+cessor or refuse to extend time for payment or otherwis- modify amortization of the sums
<br />sccurrd by ;his Mortgage by teasott of any derrtarod made by the original Barmwxr and Borrowers successors in interest.
<br />11. Itarresaee by Leader Nat a Waiver. Am' forbearance br Lender in eztnising any right or ttmedy hereunder, or
<br />orltctwise affatded by applicable law, shall trot be a waiver a: or ptecltde the exercise of any such right or rerttedy.
<br />The laracurerncslt of itlsttrartee ar Llte payment of rates ar :xtxr liens ar charges by Leader shall not be a waiver of Lender`s
<br />tight to accelerate the maturity of the intiebted:tecs srcurrcl by this Mortgage.
<br />li Rsaoedies Alt remedies provided in this Mortgage are distinct and cumulative to any ether right ar
<br />rte tinder this Mortgage ar afforded Isy taw or equity, and mxy be exrristd concurrently, indePendmdy ar successively.
<br />13. Swee®sais tied A~ H,sark ]s'st tied Secerat l.iahBty; Captiems. The covenants and agreements herein
<br />cimtaiaed sfiaB taind, and the tights herecnt~ shall inutr zo. the respective strccesmrs and asssgns of Lender and Borrower,
<br />srrbjeti io tltt provisions of Paragraph 17 hereof. All rnvenants and agreements of Borrower shat! be joint and several.
<br />Tlu capt3ats and hixdirtgs a the paragraphs of this Mortgage err far convenience only and are not to be trs~ to
<br />~ or defrtre floe pre~+ittions hereni.
<br />114 Ntltice. Erooept for any notice trquircd tinder applicable law to fie given in another manner, (a) any Halite to
<br />Horroaer ptnvided fa is this Mctiigagee shag be given by mailing strrtt natttx by certified mail addressed to Borrower at
<br />floc Prgtem Address ~ ru s+dt other address as Borrower may designates by ttotece 2n Lertdcr as Providt~ herein, attd
<br />~) any mdse to Lender shall be given by certified mail., return rrcript rtxlttested, to Lender's address stated herein or to
<br />web t>dser address as Leader may designate by notice to Barttrwrr as proiided herein. Any notice pmvitled far in this
<br />ltioatyaar sha}l fie dx-aEd to have bear givca to Borrowe; tx I.cntler when given in the manner designated huein.
<br />IS. 1tJsitasa Gave; Sevasari7Ey. This form of mortgage mmbitus uniform covenants fix natiaoal
<br />use and am-uTUform cavtnatotc vidNt Imtited variaiiara by jurisdi~ion [a rnnsiitute a uniform security itxstruaueat mveritt[;
<br />r~l prtrpgty, This Mta>~e shag be governed by alu taw of the jtrristiiciion in which the Property s !attired. la the
<br />evtsti that nay pmvition m darrse of this Mortgage nr flu Nave mnRicts with applicable law, such canRict shalt trot af:eM
<br />othtx provi>aoas ~ this Mratgage ar the Nog which ran be given eBeet without the conflicting provision, and to this
<br />tad ttse Pr+oviaxass of tht Mortgttgt and the Nor err declatrd to be sevtxat+k.
<br />lf. Capt. Bottvvrer shag be furnished a ~nfarmed utpy of the Note and of this Mortgage at the tutu
<br />+~ ezocrAiarr tx after rocaedaaae htxenf.
<br />i7. '~ ~ tee Aotaatty; Aawa~ma. If all ~ any part of the Ptt;Paty ar as interval thcdn 's sold ar transferred
<br />by Hmtotwrx wi[brart Lender's pri©r mitten e~~+ eztlndigg (a) the ~=r>+*+~+ of a Ikn or racirmbranee mbardioate to
<br />This Mattiage, (bl the taratittn cif a ptlrtlrase tnoroey security itrterest far hotsrlwld appliances, (c) a ttansfrr by dtviae,
<br />dtsaomt tw by operation of law ttptan ttx death of a joint teaent or (dt the grant of any leasehold interest of three years or lest
<br />not as ttlttiost sa pnn~ase, Leader reay, at Ltat~r's cation, declare all flu stems secured by this Mortgage to be
<br />immesia~ly titre and papatak. leader shall have w•sivad such optirn to axektaie if, prior to the sale err transfer, Le~cr
<br />and ire pt~m za tvlrota the Property is to be sxdd tv transferred resat agreement in writing that the credit of such petsmt
<br />is aatidatsoty t4 Lear aad that the intmest dyable on flu stints sccttrcd by this Martgsge shall be at such rate as Lender
<br />shall satptesi. R Loader has waived ttlr aptttm to aeaekrate provided in this paragraph 17, and if Bc>=-rower s sta:casaor in
<br />i has a wsittes ~agtaematt in writing lsy Lender, Ltttrter shall ukase 'Harrower ftrnn all
<br />under ~ hiv~g and the Nn~
<br />8' Lttada ertaciars s~ to axdaate., !reeler shall mail Barroww aorta of ~~••^~~++tion in accordanx with
<br />1'~~ !8 btste~. &a~ nttttira: 1 pt+awide a period of net ~ than q0 days from t'te data the notice is matltd within
<br />tvrit3t tray pay The arms tieciar+al dm. It Horrawrr fails to pay such sums prior to the expiration of such period,
<br />L,wdm may, w^ishotw Itutrez mtiet a dtxnand tat Harrawrs, insroke tidy rtaudies permitted by paragraph I g hereof.
<br />3tltte:-sat Govar:ut7a. $~arta~ and L~der frttffur wvtnant and agrce a; fol~ws:
<br />I!L Ar~tia/irll~ts IBasot~t m 1 i. pasagraph 17 iesenf. apw Hessosrde bract of ray covoeaat or
<br />rK leasaas iR 18tf + i ire csvtttt~ts 18 py trice tru nay saes seemed ry this t0ltortpgc+
<br />Leerier ptiisr ~ yae+telse~fste atittif eat! tss6ee is Batsaserr a r~eayl~`,~p>~r,plt la t~,ear >: tl> try ere.te;
<br />~~>A~ ~T ti ~ ~ f (. ! a bale. not bras tltee ~ t4ays frm ill! tilt the entice ie atlBed to 11tirTar-t{a
<br />~, twei. vine!! ~ l+e »tk tied £•t~l fates ~ cair aoei $a m re3are ~e >~ ~ t~ eat~e
<br />>~ caul! L aaelisseMee ai era ears aeeesai $ ~ fesedasest rY 1tw~t'~l P atM side of tie pt'oPerO'.
<br />ifs ttta[iee vii farafsr leites>e ipraewar t# tie ellillf a t t&ler acedtKetisst ntd ire rig# to au/ee L tie Itrtwtdoraue
<br />lie # w dtat~eil er >.q ettrtx slue of iw+anrer to accderaabo ad fer~loaele. If tie ixeach
<br />rt ~ ftea~ ~ it ~ ~e ~ i• ifR la~i~' iAadlC ~t Glll~ar+a O~,iYa i/l~ daC1~R a~ Of tiC aYM ICCYrO/! by
<br />tldl iyesl)~e M icy /ee attd !l(galle wlMtoaE ttetioer daowi r~ ~Y ttueclase rS' Jr~leid proeeedieg. !.cedar
<br />till fs tttittllMli t• t+si~ett irtwai ~recae#ir1E ai tc~reaas tf larecleeete+ ia~lpyH, htg trot ~ite3 to csets of docameatary
<br />tssidursts tdstrlet itei t4ge ra~eils.
<br />leeeswe~'a 1R>frt tr teieriplle. Notwiflsstandigg Ltmder's acceluation of the sums secured by this Mortgage,
<br />Herro'tveT tips rtNi ffie ~ to !rave u;y procadiajs begun by Lender to cntortx this Mortgage discontinued at any time
<br />
|