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80005068
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Last modified
1/13/2010 10:36:49 PM
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1/13/2010 10:36:06 PM
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DEEDS
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80005068
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so- €~asass <br />Leader's written agreement or applicable law. Borrower shall pay the amount of alt mortgage :nsurance premiums in the <br />manner provided under paragraph 2 hereof. <br />Any amoums disbtused by Lender pursuant to this paragraph 7, with interest thereon. shall became 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 requesting payment thereof, and shalt bear intere~~t frtrm the <br />date of disbursement at the rate payable from time to tort on outstanding principal under the Note unless payment of <br />interest at often rate would be contrary to applicable taw. ~n which event such zmounts shall bear intctest ai the highest rate <br />permisaibk under applicable Saw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take <br />any action hereunder. <br />S. lanpeetfon. 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 cry such inspection specifying reasonable cause therefor related to Lrnder's <br />interest in the Propem. <br />9. Coodemnsdea. The proceeds of any award or claim for damages. direct or consequentiah in connection with any <br />condemnation or other taking of the Property. or pan thereof. or for conycyance in lieu of condemnation, are hereby assigned <br />and shall be paid to Lender. <br />Fn the event of a total taking of the Propetty, the proceeds shall be applied to the sums secured ~., this Mortgage. <br />with the excess. if ~n^. paid to Borrower. In the event of a partial taking of the Propery. unless Borrower and Lender <br />otherwise agree in writing. there shall be applied to the sums secured by this Mnrt¢aee such pmponion of the prxceds <br />ag is equa] to that proportion which :he amount of the sums secured by this Atnrtgage immediately prior to the date of <br />taking bears to the fair market value of the Propem• immediate)}~ prior to the date of taking. with the balance of the proceeds <br />paid to Borrower. <br />If the Propem is abandoned by Borrower. or if. after notice hp Lender to Borrower that the condemnor offers to make <br />an award nr settle a claim for damages. Borrower fails to respond to Lender u•ithir.. J days aver the date such notice is <br />mailed. Lender is authorized to calico and apply the proceeds. at Lender's option. either a restoration or repair of the <br />Property or to the sums secured by this Mortgacre. <br />Unless Lender and Borrower otherwise a¢ree in w~rir;ng. one such application of arnceeds to principal shall not extend <br />or postpone the due dart of the monthly installments referred to in ~a:agrapM ; and ?hereof or change the amount of <br />such installmrnu. <br />10- Borrower Not Released. Ertension of the time for payment or modification of amortization of ifie sums secured <br />by this Mortgage granted b}° Lender rn anp successor in interest of Bn.*rnwer shalt not rape-~•P to release, in any manor.. <br />the liability of the original Borrower and Borrower's successors m imerest. Lender she'd not he required to commenet <br />proceedings against such sttaccssor or refuse to extend time for payment nr otherwise modify amarriza[ion of the sums <br />secured by~this Mattgage by reason of any demand made by the ~•rigmal 9orrnwer and Bnrrnwtr's successors in interest. <br />1i- Irorbearanee by Leader 1Vo[ a Waiver. Am' foreearance by 1 ender ir, esercisn~¢ any ri!-nt nr remedy hereunder, nr <br />otherwise afforded by applicable law, shall not be a wan•et of otnreclude the exercise ~.2 any such right or remedy. <br />The procurement of insurance or the payment of rases or other evens or charges by Lender shall not be a waiver of Lender's <br />right to accelerate the maturity of the indebtedness secured by :his Mortgage. <br />11 Remedies Camafative. Ail remedies prn•nded :n +,his Montage are distinct and cumulative to any ether right or <br />remedy under this Mortgage or afforded by law- or equity. and may he estretsed cnncurTtmh•. ;ndeaendentiv nr successively. <br />23. Soceessora and Asigas Boaod: Jane and Sec oral [.lability: Captions, The covenants and agreemenu herein <br />contained shat! bind, and the sights hereunder shall enure tn. the trspecvsr succescnrs and assigns of Lender and Sarmw•er, <br />mbjed to the provisions of gazagraph i^. hereof. All cotenants and a¢reemtnts of Borrower shat; h< tome and several. <br />The captiom atxl headings of the paragraphs of this Mangagt are for cnnvenrence only and art not to be useL' to <br />imerpm or define the provisions hereof. <br />I~. Notice. Except for any ttoiice required under app}iwble law re be given ~n another manner. (a) any notice to <br />Borrower provided for in this Mortgage shall lx given by mailing such nonce by toothed mail addressed to Borrower at <br />the Property Address ar at suc}s other address as korrower may designate by notice to Lender as provided herein and <br />fb) arty notice to Leader shall be riven by certified mail, ruum rtcapt reotxsted. to Lender's address stated herein or to <br />cult other addms as Lender may designate by notice to Borrower as provtded hercm. Am• natitt t>rovrded far io this <br />Mortgage shall bt deemed to have been given to Borrower er Lender when given in the mantttr designated herein. <br />I$. fJaiforat 1Noy;~et Governing Iaw; Severabttlitc. This farm of mcngage combines umferm covenants f or national <br />ttse and non-uniform covenants wifr. limited variations by jurrsdtction to consutute a uniform security instrumem covering <br />text property. This Mortgage shall be governed by the law of ;he ^urisdicuor..n which the Property is located. In the <br />event Thai any provision or clause of this Mortgage or tine Nate conflicu with applicable taw, such conflict shall not affect <br />other pmvisiotu of this Mon¢age or the Note whiy~r oar, be gavtn effect witlt^~vt the conflicting prov:sio,,, and to this <br />cad nc~ provisions of rife Mortgage and the Note are deflated to be srverabk. <br />Ib, lorroteer's Cape. Botiowtt shall be furnished a conlc.=ztted copy of rite 'dote and of this Mortgage at the time <br />of eaerettion or after mordatioa hereof. <br />tA. Tttatatita of ere Peopetg; Amampfiea. IE ail or any pan of the Propem• ar an rn[urst therein is sold or transferred <br />by Borrower withput Leclerc prior written consent, erttluding ta) the oration of a lien or encumbrance subordinate to <br />Llsis MortpaBe, fb} the creation of a purchase moray sectuity rnterat far household appliances, ic) a transfer by dev}ae, <br />dettcent or by optsation of law epon the death of a joint ieaant er tdt the grant of any )casehold interest of three wars ar less <br />not conlainittg an option to purelittse, Lander may, az Lender s apron, declazt all the sums secured by this Mottgage to be <br />itarnediaASly due aced payable. Lender shall bout waived such option to accelerate rf, Prior to the sale or transfer. Gender <br />and the person to whota the pt-optrty is to i+e .sold or transferred mach agrettnent in writing that the credit of such person <br />'-s satnfat:tuty to Lender and that the iaterrsi payable act the sums created by this Mortgage snail be at such rate as Tinder <br />shall raquryL it Lender has waived the option to atcelerau provided in this paragraph 77. and i.' Batxowet's succt~or in <br />intotatt bag exactrted a written aasutstptinn agreement accepted in writitrg by Lender, Lender shall release Borrower from a71 <br />obfiptiotta trader this It[ortgage sad the Nole. <br />If I-seeder ertereisea such option in acrekratc, lender shnJl mail Borrower notice of acceleration in accordantt with <br />para~nph 14 hsrteaL SaKL ttatiee shall provide a period of not Ieu than 3G days frtm the dais the notice is mailed within <br />'t`r°~ lorroatu ~Y Pay ~ stttetn declared due. Yf Borrower Earls to pay such sutras prior to the expiration of such period, <br />Lender-stay. srifhaut fattier notita or dealaod on Harrower invaltc any tuttedies permrned by paragraph 18 hereof. <br />TbtttiJxtmflasf Covawtr+ra. Harratrer and I.ettder furihst covenant and agree as follows: <br />7!. Aseaiataliat~ ^aoatMa~ Except aspro*iiM is prft;rapi 17 hereof, upw Borrower's breach pf aey coveaaM or <br />t*a~Mtt oila4aawr b trla'1fMlyt~e, iaerwliaB ire tovcwts to pay wrq doe srty cams sett+red by this MorlpRe. <br />i!rilt--fsiK h attagftrafiaasiaM araY aoBta M lllaaower as provided is patra~ropit I• heratf spacifyia[s: (f) [ht reeaeb; <br />f3! Mtn w~sai la c~lo ttttd- ilaacr; !~ a dwe, cwt fee eras 30 days from tic date tie notices is moiled to Borrrwer, <br />b ~ attifi Malttfl estate it etnoif steel (N trot failae to crtre socA breocr oa or bJon tie dsu cpetified in the notice <br />r{I` rMSM ter wtxaitrMia4 ~ fYt semi vessel r?' ~a M«ee•.a fosecfoswe by ;tditi.l Proee+ediaC sad sale t'x the Property. <br />7fle aai4a-~aM talNrr rt[a+tw-Harrower o[ 1Ye =IBIM to reitatMt otter acnNuatiaa sad the right to assert is the foreclosure <br />MKaail~-ere mito•eitilltacs of a aaefaalf or ry Misr tkt:ose of fkrrra>,ver to acceittary'on sad foreclosure. If ehe lrrrach <br />it teat icato/:aa~or. rafnla fro dMs is tilt aoUtt. t.eader at tinder's uptinn may declare aH of the scats created Dy <br />tllitt.llAMIMr/a M Ik'bamaiyya-y doe aad'prgttie wtgwat ftsrtrer demand and may foreclose 6y judkiri proceedtag. tender <br />^YpMit-wifMdto efMteflasoar_prkMMfuR aY tapeasa+s.ol fareelteure, includiue, cwt rte! limited ro, costs of deeunseatarro <br />triiAtican arauatts,artl N1ltitpwfc. . <br />llr ~tatnev'a-RiBllf f*-It~iittgtatte Notwitttstartding l.etukrs aeceltrauou of the sums sec-treed by chi, 'Ltortgage, <br />Borrower steal! have ibc rid6t to have any pTateadinii begun by i_tndtr to enfor.:c this MangaCe disc.arunutd at any torte <br />
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