|
~o~ ,!lrr`:` --~~~ ~ i ~
<br />Lender's written agra"ettlenT or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amcunu disbursed by Lender pursuant to this paragraph 7, with interest thereon, sha71 become additional
<br />indebtedness tit Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payabte upon notice from Lendez to Borrower requesting payment thereof. and shall bear interest from the
<br />dart of disbursement at the rate payable from time to time on outstanding principal under the Note tmless paptrtmt of
<br />interai at such rate would be contrary to applicable law, in which event such amounts shall bear interat at the highert rate
<br />permisuble under applicable law. Nothing contained in this paragraph 7 shall require Lender to incuz any expanse or take
<br />any action hereunder.
<br />8. dnspectioh. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condsmmtion, The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or offier caking of [he 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 Propetty, the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid to Borrower. In the event of a partial taking of the Propetty, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking bears m 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 />If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor otters to make
<br />an award ur settle a claim for damages, Borrower fails to respond to Linder within 30 days after the date such notice is
<br />m=_ile!. Lender is au*_herized to collect and apply the proceeds. at Lender's opticn, either to restoration or repair of the
<br />Property or ;o ttte sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and ?hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage 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 be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interat.
<br />11. radar Not a iVaiver. Any forbearance by Lender in exercising any right nr remedy hereunder, or
<br />otherwise _ .iW"Sflatl not be a waiver of or preclude the exercise of any such right or remedy.
<br />The pros Cc elm payment of taxes or other liens or charges by Linder shall not be a waiver of Lender's
<br />right to a <of the indebtedness secured by this Mortgage.
<br />12. Remedies umu 7iie. All remedies provided in this Mortgage ate distinct and cumulative to any other right or
<br />remedy under chi; Mortgage or aftbrded by law or equity, and may he exercised concurrently, independently or successively.
<br />Y3. Successors and Assiµsw Bound: joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br />subiKt to the provisions of paragraph 1' hereof. All covenants and agreements of Borrower she!! be ;tint and several.
<br />7•he captions and headings of the paragraphs of this :Mortgage are far convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner. ta) atn• notice to
<br />Borrower provr9ed far :n .his Mertgnge shall be given by mailing such notice by ~_em9ed mac addressed to borrower at
<br />the Froperty Address or at such other address as Harrower ma}• designate by notice to Lender as provided herein, and
<br />(hl env nubce to Linder shall tie etven by cettitls i mail, return rere:pi requested. 'to Lendar•± address stated herein or to
<br />SUCK GtileC address u5 Lender may designal2 by nOttee tO Bnrrower 83 pPOrlded harctn. Anv nOtil2 provided for in rf!Is
<br />R;otteagz s - : ~ntad to have hsea given to Bairrawer sr 1_ender whew given is the fltannar dasia~.-not=d b>•rein_
<br />s15. [:tnltarm Mongaµe; Guvsrnirt[t Law; SsrsrahiliN. This form of muttgaµs combines uniform cevenams ter national
<br />use and nos-ur^.iiorm :ovenants •.vith limited variations 6v jurisdiction to :onsti[utn a unHOrm secunty instrument .:uvarng
<br />real property. This Statt¢ege shalt be governed by the law of the jurisdiction in which the Property is lusted. In the
<br />event that any provmon or clause of this Mortgage or the Vote condicu with applicable law. such canflia thrall not affect
<br />ocher pruvtsions of this Mortgage or the Vote which can be given effect without the conflicting provision, and ro this
<br />end the provisions of the Mortgage and the Vote arc declared to he severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Noce and of .his Mortgage at the time
<br />of execution or :titer recordation hereof.
<br />IL Tramfer of the Property: Assumption. IF all ur any Dart of the Propem• or an interest therein is sold or transferred
<br />by Borrower wnhout Lender's pnor wriusn consent, excluding lei the creation tit a lion or entttmbranca >ubordinate ro
<br />this Muttgage. !bt the ccaanon ~„ s purchase money security interest for household appliances, ~cl a transfer t+y devisr.
<br />descrnt ur by eperauan of law upon [he death or a joint tenant or Ids the gram of any leasehold interest of three y'eart or lass
<br />not containing an ~rption to purchase. Lender may. at Lrnder'c option. declare all the sums secured by this 1lurtgaµe to hr
<br />immediately due and payable. Lender shall have waived such opton to ucceiera[e tf. prior ro the ,ale er transfer. Lendar
<br />acrd the person to ~.vhom the Property s to be told or tranxterred roach agreement in wntmg that the :redo of .uch person
<br />ix satisfsaury to Lender and that the interest payable un the cams secured by this Mortgage shall Se a[ ;uch rete as Lander
<br />shell rzqurst. if Lracier has waived the ++pnon to aceslerata provided in the paragraph 11, tied if Hormwsr's tucerssor n
<br />inteest has rxscutrd a written assumption aareement accepted in writing by i.rnder. Lendar shalt refasst Borrourr tram all
<br />obligations under this ~tortgege and rho tiara.
<br />I# Lendar exerasea such option to acceleraro. bander shall mail Harrower nonce uF acceleration in accordaner with
<br />paragraph la hereof Such notice shall provide a period of nut Ines than )0 dove tram the data the nonce is mailed •xirh:n
<br />--clue u•-r-~. .;.s - -_ "-_ ,.:r ,sera u::e - B:: tiwsr :sirs ~o pav° ,.. ,sin=: Ert`+ - t .z ~zr i. a.,_~ -~,~ -._~.
<br />!.ender may - t+ a rur•."•er .:at:<. r,r ~'.emand ~^n Hcrrnswzr ~ r:•u1,e oral. °: rtedtas ~rrm t r ;a." tarag;:tph rt+trz
<br />Noh•Uvrnaasr (: ovttYU+rs Eorrower and Lender furthv eosin ant and agree as rtrlloww
<br />t9. Arezisratiao: Remedies. Esenpt as prnrided la paragraph i4 heeso#, upon Borrower's breach of nay eorrnane ar
<br />agreement of Borrower in thls 4iongaµs. includinµ the cnrsnan+s to pay whoa due say sums secured by this tlortµaas,
<br />Leerier prior to acceleration shaft mail notice to Borrower as pravidrd In paragraph li hereof sprcitrinµ: t t) tbs breach;
<br />FS} the act#aa rzgnired to c-tiro sorb breach: IJ) a date, sot Izss than 3f1 days from the dais the uulizr is tnafled to Borrower.
<br />by which such breach mass bs cured; and ta) abet failure to rota such Breath oa sr beiure thr dale specif!ad in the nuitcc
<br />may result in acceleration at the .urns xcured by this Monµage, fornlosurr by juditiu! proerediuµ and sale of the Property.
<br />TIM tMtiee shall ftuther {ntnrm $orruwer of the right to rrinstats after acceleration and the right to avert in the fureclusure
<br />prarseding the rwn-taistrnce of a dsfauU or any rather defense uF Borrower to atcNaration and furecunurs. If the breach
<br />Is not cum! on or hefarr the dots specified is ihs natter. [xtutsr al Lender's upturn may declare a!1 ,rt the rums secured by
<br />thls ilfurtgage to ice inemsdtarrly due and payable without Fartifer alemund and mae forecune by jndiciai procreding. LCndef
<br />shall be rntittrd m rn!lert in such prateedtag all sxpemrs of forcrlnsare, includinµ, but not limited tu, costs of documentary
<br />ei~idenre. a`m.-trolls and floc repi5[f5.
<br />4.:. -::,r=x: s Ftig.`,t to Rrias:at¢. :'utwithstandmg Lender'i ac.:zierauon ~,i thz sums su,:ur~t'1 sirs \i.;rtgugt.
<br />Borrower strati have the rich[ to have any proceedings 'x¢un by Lcndrr to rntorce :fits Muttgage discununueJ at soy tune
<br />
|