|
_ _ ~"
<br />_ ~
<br />~'` t~09S39
<br />Lender's written agreement or applicable law. Borrowe: :hail pay the amount of all mortgage insurance premiums ;n file
<br />manner provided under paragraph 2 hereof.
<br />- Any amounts disbursed by Lender pursuant to thi> paragraph 7, with interest thereon, shall bernmc a~tiorial
<br />indebtedness of -errwer secured by this Mortgage. Unless Harrower and i.tnder agree to other terms of payment. such
<br />amoums shag be payable upon notice from ixnder to Borrower requesting paymenf thereof, aid shad bear interest from-the
<br />date of disbursement at the rate payable from time to time-on outstanding principal under the Note unless payrsratr of
<br />interest at such rate would be contrary to nppifcable law,-in which event such amounts shag bear imtresr-at the highest-rate -
<br />per-missihle under applicable law. Nothing contained in this paragraph 7 shalt require Lender to incur any-expcnse• or take
<br />any anion hereunder. -
<br />8. Inspection. Lender may make or cause to ix made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower melee prior to any such inspection specifying reasonable cause therefor related to LerWer's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for dama¢es, direct or consequential, in connection with any
<br />condemnation or other taking of the Propert}', or part thereof, nr for conveyance in lieu of condemnation- arc hezeby assigned
<br />and shall be paid to Lender.
<br />Tn the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid m Borrower. Cn the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, Them shall be applied !n the sums secured by this Mortgage such proportion of tht proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior tothe--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 />7f the Pcooerty is abandpned by Borrower, or if, after notice by Lender to Borrower [ha[ the condemnor offers to make
<br />an award nr settle a claim for damages. Borrower fails to respond-to i,ender within 30 days after the date such notiee~is
<br />molted. Lender is authorized to collect and apply the-proceeds, at Lender's option, either to restaration~or repair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unicss Lender and Borrower otherwise agree in writing, any such application of proceeds da principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />]0. Borrower Not Released. Extension of the time for payment nr modification of amortization of the sums secured
<br />by this Alortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest, Lender shall not he required to commence
<br />pmecedings against such successor or refuse in extend time tar pa)mcnt or nrherv-•ise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and -orrowcr's successors in interest.
<br />ll. Forbearance by [xnder Not a Waiver.:',ny fanc~arance by Lender in exercising any right or remedy hereunder, or
<br />otherwise alFn rded by applicable law, shall not ht a waiver of nr preclude the exercise of :mv such right or remedy.
<br />The procurement of insurance or the pavmer.i ni !axes sr other liens or charges he 1 cndcr droll oat he a waiver of Lender's
<br />right to ^ttcitratc the maturity of the :ndehtcdness secured by this nloneace.
<br />i2. Remedies Cumulative, All remedies pnmidtd in !hie Mnrtcage a a nc! and n!mulative to any other right or
<br />remcdc under this Moreagt or afforded by law• nr cquin~. and may he eccrciscJr cnncurrcmir, indcpcndently or successively.
<br />13. Successors and assigns Bound: Joint and Several Liability; Captions. The covenants and aerecments herein
<br />contamui shall hind, and the rights hcrcundcr xhail inure !a, ;hc respcc!i•:e su.'.'en,, rn and assigns rd I cosier and -urro,ver,
<br />subject io ;he provisions of paragraph i i hereof. Ati urvenams anti aereemcnts aC $orrower shaii 6c joint and several.
<br />The captions and headings of the paragraphs nt this Mongaec are for ::mvcna-ncc noh~ area arc nn[ to he used to
<br />mturpret or define the provisions hcrcof.
<br />rw. Nr.iice. Except fnr any nOliee required r nritr a•+Piieahic )aw i.~ ire-ric`th-iii~annr her manner, i- :env notice to
<br />Bs:t.-,!w ?vided far in [his Mrrtgagt shaii !±c :; yen M' :melting , ..::nt;re !,}~ ccrtt5td-n+aii .:cidresscd to -nrrurver a[
<br />the Pr npem .,ddress er ;u such nihu address :, 13r rn -ncr mar , , gn:nt' ing,.norrvs in T,zn.iar : , ! r,. idrJ i attic ,...d
<br />thl any notice `to Lender shall he given hp ceru8ed m;uL :c:nrn :acr:ryrt i'espia: Bird. :.~ f enrler'c adain•sc s!a!ed herein or to
<br />such .?thee address as Lender ma}• designntt by n. us-t !,, :f.:rr,,wrr a; )*pr,-,il~-~~rcr~n a.n•: r:,v:ricJ for in !his
<br />`+1.rigage shall he deemed ter have been grven t r -. - ,rice-'.roc:..°:z~-.rr-th2 t::..:s:•~ -_~ta.c:'. her: in.
<br />15. Uniform Mortgage. Governing 1 :tw; Srrerabifitp. i hi, tannad mnrtgsge event+incs r.n:form c . an!s ihr national
<br />u
<br />use and non-uniform covenants with limited varia!iuns he luns,irc!Inn`,-'tn .:a:xtn:ne niiorm s eunrv ir><tnunrnt ~ x'cring
<br />real property. This Mortgage shall be governed he the !a -,C the _airisd'u'linn m :which the, Pre,per n' n Incased. In the
<br />even[ !hat any provision or clause of [his blurt Gage nr !ire \rac n,:aiicn uuh.appiie:drle I:,}vi such ronilic! sh„11 ^ot nfiect
<br />other provisions of this Mortgage or the Nott „Imh :. rli<a~muhnu; the ct,nd!-;mc p :pion. and to this
<br />end the provisions of the h1orgagt and the *so!c arc Jeclarcd t.,~i,c +cve rnhir
<br />16. Borrower's Copy. Borrower shntl he funu~hcd .: <anh,nned ;. ~ '. ~hc tints ear,: „f rho ~k,nengc at the [im-:
<br />u( execution or after recordation hcrcof.
<br />17. Transfer of the Property; Assumption. if ::II rr unr pert n! !hc Pmt:.;;, :: :n!cr es: '.::e: e:r. is ,old or !ransCcrred
<br />6y Sorrowtr without Lender's prior xarincn .-nnscnt, excluding :.u !hc ~:. a:rw :v ,~~ ., .,r me:nnhnurs:c vela: nhnatc in
<br />this Mortgage, (n) the creation of a purchase : anrv + : innv ev ~~• r t-rxn:n-irnld .,ppl, ,, refer he ate,•ise.
<br />n car n•, . ^.r, i : .:.v
<br />descent or by aptration of la:v open ihr death of :: tonri ir!ant :u , " • - . .. ... .. . :.. . ~ ..
<br />Lender may, a! I rndcl'. nphon, dcd.ur „i !ir.; ,. , ._ eel !r !his Mori&age to ht
<br />immediately duo and payable. 1_ender shall have waned , :ch ,q>uon s. ,,~._.u ~:!e „ poor ! ± the ~.de .u tram (c r. ! wrier
<br />cmd the persor. !o whom the Prnpenv is to 6e s.,id or truu!ccrrd ro:uh agrcauu-nt r ,; n,r~p i~ .. !':. urdit a, .n.: L• person
<br />is satisfactory iu lender and tha! the intcre,t pa}~:!ble nn the s.. eel 6;- ~. n Ahoru~.rgc ,h~ril be :,! s-... -a .. ~- L rode!
<br />shtrll reyursi. If i endtr has waived the np!ion !o u,a-Ie, o;c pre ~alrJ ~, Hri, t:'r;,graph 17 -n.i ~; ILxn~n cr ,r ., a,
<br />interest has executed a whiten assumption agnesxnt accepted in r:riling by 1 ,n,icr, i code; :troll :ucau Bntmwe: ~i u:m alt
<br />obligmions under Eris Mortgage and the Nnte.
<br />I( Lender exercises such option to accelrtale, Lemier sh:dl road itrnlow oa noh.c r! octet a!um •.. .,...,_n{m,,. xuth
<br />paragraph Ii hcrcof. finch nonce shaii provide a pennd ~ I n,rt ics-. than ~!t d:, r-. imm !nc d ,r the a, ,:.~ -~ - .: ,•
<br />which Borrower may pay the sums declared due IE -arnn: cr buts is pay +. . ,•:ms p, i,,: !.: rLc ~,Pu,:!io:•-. ,i r~nd~
<br />Lender may, without lurther notice or Jenrvui nn Bsr row er, un-oke any n. i.u-drc, ~ rm n!a.i br ~, , r:q+V, t _n.r ..
<br />Non-Utaf t'attit COVErv1N i5 ETorrvwer anti 1 cndcr further enscn,:nt anJ :, f;rtt- Y'. I•,ilnw>
<br />Ig. Acceleration; Remedies. Except as povideA in parrgraph 17 he col, upon lisrrower'. hunch of :ray a count u
<br />agreement of Borrower in lids Rfortgngc, including the covrnunb Io pu yr when dua• n sumo secured by ihis,Mortgagcr
<br />Lender prier to acceMrntion shall mail notice In Borrower as provided iu parugrnpb f-lshcrrof spaeitying: 1 t) the breach;
<br />tZ) the action required to cure wch breach; {3) a date, sot Icss Than 111 Buys from Ihr dale the notice is mailed to ltorrowrq
<br />fy which such breach must be cured; noel (4) that fnihrre Rr cure wch breach un nr before Lire date specified in ihr notice
<br />may result En urcrlerotion of the sums secured by this ;1lortgage, forecissure by judiei:d proceeding and sale of the 1'roprrt}'.
<br />The nstice shall further inform Borrower of Ihr right to rcinslr.:e after acceleratius and the right to assert in the fordosunr
<br />proceeding the non•ezislenat of a default or any other defense of Borrower in acccleratiou and foreclosure. if the breach
<br />'iz not cured un or before Use date specified fn ihr notice, Lender at Lender'. option mac deelnre all of the Bums secured by
<br />this Mortgage to be immediately due and payable without fivilur Armand mid may foreclose by judicial proceeding. fender
<br />shall be rnYtged to collect In such proceeding ail expenses of Fnrecls.wrr, including. 6u1 nut limir-d tu, costs oi' documentary
<br />evidence, atrstrucis unA title reports.
<br />19. Borrowe:',=, Right to R¢rnslsle Nuhvit h5!and urg Lt uJc:'s ~ .. .u a:mn of !lax ,,:m, red by !hn Mor tgagc.
<br />Cisrrower shall have the right to have any prnettdings hcgtm h, I cndcr ren•rs ih., \toi!g.rgt Ji,.on: nuicJ n! an: !; rtes
<br />
|