|
~0-:~8~
<br />Lenders writ!^_n agreement or applicable law: .Borrower shall pay the amount of all mortgage insurance premiums in.the -
<br />manner provided under paragraph2 hereof. - - -- -
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become addilionaT
<br />indebtedness nf-Borrower secured -!zy this Mortgage. Unless Borrower and I.endcr agree to other tet7r[s of payment, sueh~;~
<br />. amounts shall be payable upon notice from bender to Borrower requesting payment ihereef, and shalt hear interest from fhe' ._
<br />-date of disbursement at the rate payabte from time to time on outstanding principal under the Note- unless payment- of:
<br />-interest at such rate would be contrary'-to:applicable law;'in which event such amounts-shall bear iti[erest of the highestia[e-~-- -
<br />pcrmissiblc under applicable law. Nothing contained in this paragraph 7 shall regttire.l_ender to incur any expense or-take- -
<br />:my action hereunder. - - -
<br />- 8- fnspecfion. Lender may make or cause to be made reasonable cntriex upon and inspections of the Propeity._providefi -
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause there fnr.retated.to:Gender's-. -
<br />interest in the Property. ~ _
<br />- 9. 6ondemnation. The proceeds of any award ar claim far damages, direct ctr consequential, in•connectipn with any - -
<br />condemnation or other taking of the Propcrt, . or part thereof, or For convcyancc in lieu of condemnation, are hereby assigned -
<br />nnd shall be paid to Lender. - _
<br />In the event of a total taking of the Property. the pmcceds shall be applied to the sums secured by this Mortgage.
<br />with the cscess, if any. paid to Borrower in the event of a partial taking of the Property, unless-Borrower and [xnder
<br />othcnvisc agree in writing, there shall he applied to the sums secured by this Mortgage such proportion of the proceeds. - -
<br />-as• rsequal to that proportion which the anttntnt of the soars secured h} this piortgage immediately-prig fothe date of_---.
<br />taking bears to the fair market value of the Property immediately prior m the d:ue of taking, with the balance of the-proceeds -
<br />paid to Borrower. - _ _
<br />if the Pfopen}• is abandoned by 6orrnwer, or if, after under by Lcndcr m Borrower that the condemnor offers to make
<br />:m award or settle a claim for Hama{ss, Borrower twits m respond to [.t;ndcr 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 In the soots secured ht- this Mnngagc. - - -- - - - - - .. -
<br />Linlrss 1_cnder and Borrower a',thercise agree in writing, any such appiictuinn of proceeds to principal shad noC extend
<br />nr postpone the due date of the moot hiy installments referred to in paragraphs 1 and 2 hereof or change the amount of -
<br />such installments. -
<br />t0. Borrower Not Released. fiuension of the-time (or p:!ymcnt ormodification-nf amortization of the sums secured - -
<br />by this Mortgage granted by I-ender u+ any successor in interest of Aorrower shall not c,perate to release, in any manner;
<br />the liability of the original Borrower and Borrower's successors in interest. Lendrr shall not he required to commence
<br />proceedings aca:nst such suucs<or ar refitsc to e's;:~d~timc for pnymen; nr athcrw•isa modify amortization of the sums
<br />secured he this fit;+rtgagc by rca<on of any demand made by the original Borrmcer and Borrower's successors in interest. -
<br />t t. Fnrbearanrr by C,ender Not a waiver. :\n}• fnrbcaranec by Lender in exercising any right or remedy herennder, nr
<br />other•a'ise otTort'.ed h}' applicable iax•, shall nnl he ;t waiver nC .~r preelvdr the emrcise of any inch right nr -remedy.
<br />The prc,cuu•mrni of insurance or Ihr payment of rases nr other liens nr charger by i.ender chat) not he a waiver of Lender's
<br />right to arcclcratr the m~utriry of the indchtcdne~s u~cun-al by thit ikxtgacr.
<br />12. Remedies Cumulative. Ali remedies praeidcd in this ]tortga};c arc diuinct and eunndativc !o any other right ar
<br />rcntrah' under this Morgage or afforded by low or tyuity, and :nay he exercised concurrently. independcutly or ancecssivel}'.
<br />I3. Successor., and Assigns Bound; .]Dint and Several Liability; Captions. 1'he c tvrnans :vtd agreenunts herein
<br />eontaincd shall hind, and ;hc rights hereunder shall inure to. the respccuec successors and tassigns of ).ender and Borrower,
<br />subject to ;hc provisions a( paragraph 17 hereof. :111 covcmm~s and agretntcnts of Barnncrr shall be joint and several.
<br />The capGuns rind ireadings of the paragraphs of this Rinrtgagc art f,.r ,'oncen+encr carte anti arc na[ to he used to
<br />interpret .ar define the procsino. hercaf.
<br />id. Nmice. Ewcpt for env nnucc rcyuired under applicahte law m be given -~n :uua L+cr manner. ta) any rnticc ro
<br />Iim rowsr provided for in this Morteagr shall he '!feat by mauling wch raGce by .eruficd mail addresud to Borrmccr at
<br />tits Pnipcr!y Address er al such ether address as Borrotvcr t»a}' ,!esrgt;atc by :trticc to Len<kr ,ts praide.d aerein, sail
<br />fh) any nonce to Lender situ;: he ci.cn hy- ccniticd mail. return. r .ca r^aed. n~ 1 emicrs address stated herein cr to
<br />snob at!x•r address as Lcndcr say desienatt by notice u: Bnrfr•:arr a> prorated :`.cr.. m. vlrn' nr•ticr pnxvidrd for in this
<br />41; rt e,:ke °r,°71 he :]ceased t4 t"'•,, Lrcn eJVen !u Bur career ui ` ~...'_ ., I;r-
<br />•••,•• ~•.,.. , -~„scr , ir.'zr in t ,= manner -csicnatcJ hereto.
<br />l5. Uniform ,hiortgagc; CorerninK Law; Srverahiliir, fhi~~ farm ,=I nt„rtr•aee a+mhiucs uodornt coeraani•. for nation;,)
<br />use and non-uni(omt covcr.an;s with limitrJ variations by j;u labor rro t., taoshn nr .. nntfonn ,aunty lost ria neirt cavetinl;
<br />real proprn y. "this ?alort;taCC ,hall be governed h:• the ia•.,' of ;hr innsdiction ut which the Property ~< located. In the
<br />event th:u an} pnwsi,m or clause of this (vtnrtgage or the Note conflicts ,rich applicable I:nc. such conflict .hull not nlTcet
<br />other nrovistons of this ~1 nrtgaee or the Note which cstn he oven rlk~rt sci!hout the amlti;ting i+n,visiun. and 4o this
<br />end the provision of the 'sh,nengc and the tioto :arc ,Iceland r.; he ss e:ablc.
<br />IA, Borrower's Copy. Boraxvrr shall hr fu:nidteJ a .onfornx•d cop}- :,I the ' + c :m;l ,+(~ht~ht~r~age- at the hme
<br />of execution nr after recordation hereof. 4.,otnl~#1•~aM~tttAtia.ilx;,.-.,
<br />I7. Transfer of the Property: Axsumption. it all nr any pan M the Pngaertc r,r~tn iit~M,ttA tJ1W\NGiiR[blrt nr l'~gnafer rtd
<br />by Borrower wi0u!ul I_ender•x poor written ienxm. esiluding +:u ;hc :r,:anor. of ;:K•itmtr.GtsMNWrNRbeu+h~ udxttdtnntc t_i
<br />this Mortgage. thl the creation .+f a purchase nnnter scow ity nurrczt Ice ho:acholtl appliances, Rl a mtnsfcr by devise,.
<br />dasrcnt or by operation of law open the death of a Iunv ttnanl or -
<br />- Lender ma}, at ! endet'c optrnr,, dreLtfe .ail the suurt sc.-u red hs• this S.i„rtgage to ;-
<br />immediately due and payable. 1 emlar shall have w:uvtd such opurm m necrleeue ii, prior to the ,ale ,n' irmsfer. Lcndcr
<br />and the pcrsi+n to whom the Property` is to be sold or transferred reach .:grecntvnt in wriunp thin the credit ^t •atch person
<br />satisfaCiu;~' to Lender and that rite interest payable nn Ihr soots ~sut ed bs ]his Ainrtgvge shall ht ai ouch rate a. I cadre
<br />shall rryuest. If Lcntler has waived the option to nceelerate pntcidcd rn this pa raE!ru ph 17. an,i .f Bnrrrncr:', ,ncevssnr in
<br />interest has rxtcuted a wtittro assumption agreement att7:pted in uritmg by Lcmler, 1 ender shall release Bon vtrer in+m all
<br />obligations under this Mortgage and the Note.
<br />I( 1•cndor esercities such updan tit ace:cleralc, 1 ender shall m:ut Barrowrr noua~ of axeleratinn et :~ ronbms•e with
<br />para.{resph 1~ hereof. Such notice situ)! prnvtdc ;t period aa' ;. _.. ,.,; -tp ,!;:•is font the :f ;c !-_ Drier i~- :n:,fled wLhu:
<br />which Borrower may pay the cams dc-chuuil dna= tf Ht Igo+ser~fad- .n {+at suc!t ,sous pair+r to the yr-tGon „1' eu,~h peru,tt,
<br />1_vncter may. +v4ihcxrt further notice nr demand an Batnnerr, htvukc rn rentrdics perruutrd h: I•,tragraph ti itcrcof.
<br />Ncty-Untr-oa+t Cnvl env is. Ba~rewct and 1 cosier further eovcn.uu anJ agree as fallr,w,:
<br />i$. Arcricrefian; Nemedies. ftXCepl as provided in parut[raph 17 brand, upon Bncno, en's breach of un} ctn'enanl or
<br />agreement of Borrower in ibis S1or[gagr, inchtdirtg the row enuuL, to guy when due nos ,taus secured lq this ltort!tut;c.
<br />Lender prier to-acceleration shall mail notice In Bormwcr as proridrd in parrgrtph 14 hereof specifying: tlt ihr breach:
<br />(21 ihr action required to cure such hrrrch; lJi n date, nnl less than 16 days Iron the dale the notice is mailed In Burruwer•
<br />by which such breach aurst Ire cured; and 141 thin failure to cure ouch Greuch nn ar bel'om the tlatr specilial in the notice
<br />may result in acerteratiou of the soots secured by this i~lortgay;r, tureclnsure by judicial pruccedinp and sole of ihr 1°rupcrn'.
<br />The notice shat) further inform Borrower of the right kt rrinslatr after acceleration and the right to asses in the foreclosure
<br />'proeerding the non-rxislrncr of a default or any other defense u( Bon'u+rer to acceleration :utd [orccluauru. It the brcac6
<br />is not cured on or before We date specified in tltr notice, Linder at Leader's option may declare ;dI uF the ,outs crcucal by
<br />ihls Mortgage to be immediately due and payable without farther demand and may foreclose b} judicial PnacecttinK. Lendrr
<br />shall br entitled In cul{ecl in sorb proceeding ail cxpenscv of foreclosun•. includinK, but not litnited to, costs of docua:rntarp
<br />evidence, abstracts and title reports.
<br />l~, QosrawrPs Right hr Rrinstsie. Pinnvithstand: rig t.rndc is a erht: nuen of ihr sum, :secured in- this Rionga_c.
<br />Borrower shall have the right to h:rve any proceedupts negun by 1 ender :o cu rarer th„ htougage ,liccontuuic;i .^ .:nr tone
<br />
|