|
<br />$i~,.., '~~~r
<br />Lettslrr's written agreement or applis:abk: law. Harrower shall pay the amrntnt of ail mortgage insurance premiums in the
<br />manner provide) arnder paragraph 2 trareof.
<br />Any arnauMS disbtrrsed by lender pursuant to this paragraph 1, with interest therram. shalt become additional
<br />" tj int[eb;ednexs of Barrower secured by this Mortgage. Units $orrower and (..ender agree to other terms nt paymertt. such
<br />11 amounts shall be payable upon notice from Lender to Borrawer requesting paytrtent thermf. and shall bear interest from the
<br />date of disbursement at the rate payable from time to tune on atistandmg principal under the Note unites paytturrt of
<br />interest as such rate wauld be contrary to appticabte taw, in which event such amotmty shall bear intta-est at the highest rate
<br />permissible under apptieahte law. Natfiing contained in this paragraph 7 shall requite I_ettder to iucttr any expettst or take
<br />any action hereunder.
<br />8. insptettts~ Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that [.ender shall give Borrawer native prior to any such insptcrian specifying reasonable cause therefor related to Lender's
<br />- interest in the Property.
<br />9. CarMrmaatWn. The pracceds of any award or claim for damages, direct or consequential, in ennnectian with anv
<br />condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation, are hettby assigned
<br />: and shall be paid to Lender.
<br />In the event of a total taking of the Property. the proceeds shalt be applied to the sums secured by this Mortgage.
<br />with the excexs, if any, paid to 3orrau;er. Ir. the eve;:( of a partial taking of the Property. unless Harrower and Lender
<br />otherwise agree in writing, (beet shall be applied to the sums secured by this Aiortgage such prttpartion of the praceeds
<br />• as is equal to that proportion which the amount of the sums secured by thix Mortgage immediately priar 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 Borrower.
<br />[t tfic Property is abandoned by Borrower. nr if, after native by Lender to Bortnwer that the condemnor offers to make
<br />an award or settle a claim for damages. Anrcnwer fails to respond to Lender wuhin 30 days after the date such notice is
<br />mailed. Lender is authorized ro collect and apply the praseedx. at f~ndtr's option. either to restoration or repair of the
<br />Property ar to the sums secured by this Mortgage.
<br />[lnless Lender and Barr+wer atherwise agree in writing, any such application of praeeeds to principal shat[ not extend
<br />nr posrpane the due dare of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />- such installr*ten[s.
<br />10. Borrower Vol Rehaaed. Pxtension of the time far payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrawer shaft oat aperate in release, in any manner,
<br />the }lability of the arigmal Borrower and Borrower's successors in interest_ Lender shalt not he required to commence
<br />proceedings against such successor or refuse to extend time for pavmznt ar otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand mad( by the original Harrower and Borrower's stccessors in interest.
<br />tl. Forbearance by [,etrder Not a Waiver. Any forbearance b}' Lender in exercising anv right nr remedy hereunder, or
<br />- otherwise afforded by applicable law, shall not be a waiver of c+r preclude the exercise of anv :ach right nr remedy.
<br />The procurement of insurance ar the payment of (aces or other liens ar charges by Lender ehall oat ere a waiver of Lender's
<br />- right tc+ acccteratc the maturity of the indebtrdntss scatted by this Mortgage.
<br />l2. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumniative to any other right or
<br />remedy under this Mangagc or afforded by law ar equity, and may ht exercised concurrently. independentiv or successively.
<br />...._.-.~,..,~,.= .. t, _,~ '~y~ amc. .sum ~~~;'lr3iiat'arid aeveraf iraiStitty; taptiom. Y'he ravtnaots and agreements herein
<br />contained shall hind, and the rights hereunder shall inure to, the respecnve successors and assigns aF T.ender and Borrower,
<br />subject to nc~ pravisinns .?t paragraph 1'. hereo; .4l! covenants anJ agreements .+f Borrower sha1V be solo( and several.
<br />7ht .options anJ headings of the paragraphs +:f this Mnetgage ore for .:onvenitnce ,?niv ;rod are not to be used to
<br />interpret ar define the provisidns hereof.
<br />l4, Nutlet. )except far any notice rtquireti under applicable taw u? he green m another manner, lai any native to
<br />Barrower pray=tied far in this Mortgage shall he given by mailing cuch notroc by certified mail rtddressed to Borrawer at
<br />the Prapzrty :4ddress or at such other address as Barrower mai~ desrgnatr by notice to lender as provided herein, anJ
<br />(hl an} natrce to [ .~n.ler ~hatl t?e trivet; t+y certified ma,l, retunt receipt rcgttested. to t tnder's address stated herein ar to
<br />such other addre» .cs Lender Wray Jesigrta[e by nonce to Barrower us provide) htrorn, Any notiu_pravided_for in this
<br />Mortgage shai3 he Jeemed ro ha+e Keen given to Barrower or 1 ender when green in the mannsr dagignated •hersgn.
<br />I5. I!tsiform rifottxat<r; Cavtrnitg i~wt Se.erabiNty. 7?n. t?+rm of mortgage carnMtieis nnNtrrm covenants#ar national
<br />_ use anti Wan-untfarm tiovenanrs with limited variatrans by iurrsJrrvtion to Eanstrnnc zs ttnifrntn 3t~urity ittshtuntnt covering
<br />tool propZnr This Marigage sha+! be eatetned by the law of the lurisJtction a+ which the Properly is 1•xated.~ Tn the
<br />event ;het :r:;' t -+v.s:..i- rianst --- thix ~iot*gage ar the Matt ~ant~iiis with appficatalt law-, such cottf[ict sha31 not affect
<br />other pr,r,+siat=s of +.t',=s 4iarigage :-- ?hr< ti.?cs tvhith ,:an Fe giv°En etTect withc+ut the eontltcting ; rrvisinn. and to this
<br />end the pr,+vrtrom c € .ha Mortgage and the Vote arc declared to he severable.
<br />t6. Boemwert Copy. Born?wer ,hall hr £unu<hrd a conformed copy c?f the Note and of this Mortgage at the time
<br />of execution ar attar recordation heres?f.
<br />p~t7. Trursfer of the Property; Assumption, if all or an} part rt the Prnpeny or an interest therein is sold c+r transferred
<br />by {N)rri+aer Wdha?ul [.endtr's priar wnaen consrm, excluding ta) the creation of a lien or cncumhranct cuhorJtnate to
<br />this Mortgage. fhi the creation +~€ n purchase maneti security inttrcvt for household appltanc:ea, tr) a transfer by devise.
<br />descent or try ul'rerauon of law utwn the death of a 1+?int tenant or '
<br />l ceder :na}. at Lender's .?ptu?n, declare ul1 the some yenned by this Mortgage h7 be
<br />:mined .rtety due and payah;e I ender ,hall hoot waved such opUan !O ac alerete if, poor to the sale ar transfer. Lender
<br />and tha pcrscut tr whore the Property i. to he +oid or transferred reach agreatnent in writing that the a'edit of such penun
<br />is sansfactar} n+ 1 ^.nJrr .,od r6,,t the uttcrrst payable on the cum, ,ecurtd h} this Mnugage ..hall he at such rate as Louder
<br />shall reyucsi. If 1 ondrf ha; wowed the ~~puon [c+ acceler,rte pa+srsicd m this (?.rrng+aph 1). anJ if fturrowei's successor rn
<br />merest ha~- executed :. uru~ctr assuntpt.an agreement acceptrJ ir? wtiuny ht~ Lender. 1_endtr <hall relaasc Harrower front all
<br />obltgatrans under this Mortgage and :t><: Nate.
<br />If Leodtr extrcitiGS wvh c?puce; ±a accaatate. S.eadcr shat' rna{i tiatr,,:wi nonce ,+f s,celtraur.^ u? accnnian.c wrth
<br />paragraph 'd hr.:cat tia,h n.~tuc ,hell ^~cwtdr ;r pcnod ~~t n..: less that: alt 'a•.~, L.;rt ;t;rrwarc the no:i.c i•, maiicJ :.ithin
<br />u~htch Hrurr+wc; :nay ;+a; r??e +urnx devote) Jut !t Borr++wer t,ih ro ;+ay sorb ,sun, poor o+ the rxpirati++n nt such pcrtad.
<br />Lerde: •ne- -,h 1. ':: +......._~ .!_.,7n.J It_•rr :...- ,..-A. -..,, ,., z-•tie, f-art;,-tt~.. t-, ,,,raa:atrir i`+ht;tevf.
<br />- Ai_rti.t;s;rtuxsi C"uv F'~aars n.+r rowan area i code; urrtha r.. ~.:a.,t .end el;rce a, r,.Rcws
<br />Ig. AacekrWiaa; Remedies, Except as prorirkd in pata>iraph 17 Ntrexsf, upon Borrower's breach of any eaveuant art
<br />- t4ereement ni Barrower in this ~iortgatte, igefudioK the cu.toanta to pay wbea due aay aunts .rented by this ~IottKttRr,
<br />Leader priar to acceleration shall (twit rtutirt to Borrower as pnrsidrd in paragraph I~ herratf .preifying: 11) the lxeach;
<br />!2t the aNivn rrgnired to curt Such hrracts; tit a date. oat (era than ~U days fnutt the date (tae testier i+ trralkd tit Bortawrr,
<br />by sylticb each 6rraclt moat br cured; and ty) that Failure to .ore >uah breach vn ar before the date speaiftcd iu the erotic(
<br />may rcwh is accrlaratiars of the sutns sttuterl by this Ltartgage. [tsrrcluaure by judicial pnxerdittq and alt of the Pnsperty.
<br />7'bt nvtb:t siraU farther isfarm Borrower stf the ritfht to rc~trde otter acceleration and [he riKitt to asFtrt in the forrciuaurt
<br />prucert8ne the noa-exlYttncr of a etefsuk nt any other dtferrte of Burrower to ac•eetrratian and torrctusate. It rht breach
<br />is set a'arcd ssn ur btiure the date sptriAtd la tht rtoticr, l.rsder at i.rrairr's option may declare all of the Suau wea°urrd b>
<br />ttlrb Muxtt to ire iarmartiattly ties and payable wilhuat fwNrrr demoted aad may tarcehsse 6y judkial prwerdirrg. 1-ruder
<br />sal ter rnta~rd to collect Its srsch procrrdhtp alt rxpe~rs of iarectrsstsrt, iarludhrR, hat s+ot limbed to. mats of datcumrmary
<br />sa+.dcas+:r, sr~:tres:is Brad title reports.
<br />t9, Bsrro..rPs Rtt(bt ks Rdiaaiart< lotwethti..nsi+n~t fancier"s a., ate: at''.n ..t +h~ +,-am•. ~..tua.i h. tF;i4 \1..rt, rt.'.
<br />tl._?rra~'~r, .hat. tsar •?rv ash( '..c h ~.c ai,',- nr set:'dcng 'era-rr, h, !.-,tda•, r,• _ , r -~ ,h xi ~_r .. ....,t t,.,, <' ... ..,-
<br />
|