|
<br />gQ- GGS084
<br />Leader's written agttxmcat or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Arty BalOUms disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />inttebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shalt be payable upon noritt from Lender to Borrower requesting payment thereof. and shall bear interest from the
<br />date of disbursement at the rate payable 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 interest st the highest rate
<br />pttrmistibk under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />arty action hereunder.
<br />& Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prier to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the PCOperty.
<br />9. Coaiersrtloe. The proceeds of any award or claim for damages, direct or consequential, in connation with any
<br />condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall lx paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if say, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall tx 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 to tht 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 [Ix Proxrty is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor otfen to make
<br />an award of settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply the oroceeds. at Ixnder's option, either to restoration or repair of the
<br />Property or to the sums secured by this Morgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall no[ extend
<br />or postpone the due date of the monthly installmrnts reterred to in paragraphs I and 2 hereof or change the amount of
<br />such installments.
<br />le. 1lurosrer Ns>t Relaeed. Extension of the time for payment or modification of amortization of the sums sacred
<br />by this Mortgage granted by Lender to any successor in interest of Borrowe: shalt not operate to release, in any manner.
<br />the liability of the original Borrower amt Borrower's suceessors in interest. Lender shall not be required to commence
<br />proccedings against such successor or refuse to extend rime for payment or otherwise modify amortization of the sums
<br />satrrcd by [his Mortgage by ceascn of any demand made by the original Borrower and Borrower's successors in interest.
<br />11. Ferieseeraee by L.nier Not a VFaiver. Any £ortrearance by Lender in exercising any right or remedy hereunder. or
<br />othenrise afforded by applipbk leer, shall not Fx a waiver of or preclude the exercise of any such right or remedy.
<br />The procuremen3 of insurarrtt or the pavmem of taxes or ether liens or charges by Lender shall not be a waiver of Lender's
<br />right [o accelerate the maturity of the indehtedrress seared by this Mortgage.
<br />11 Resraeiea Caaisdte. Al] rettrtdies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may tx exercised concurrently, independently or successively.
<br />13. 3raeeRaara cacti A>tt~ss ^oad; doisit atsi Serest [3a6R'ty; CaPtloas. 'the covenants and agreemrnts herein
<br />tbntalrxd shall hied, and the rights hereunder shall inure to, the respative successors and assigns of i_ender and Borrower,
<br />subjeex to the provisions of paragraph 17 hereof. A17 covenants and agreements of Borrower shall trc joint and several.
<br />'[Ile captious and headings of the paragraphs of this Mortgage are for convenience only and are not to ere used to
<br />irt[erprct or tietitx the provisions txteof.
<br />U. IVssiee. F.rccept for any nolitt required under applicab?e law ro be given in another manner, (a) any notice to
<br />13lorrower provided for in this Mortgage shall fie given by mailing srtcF notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by narice to Lender as omvided herein, and
<br />(b) any notice to i.ender shalt be givtn by certified mail, return receipt requested, to Lender's address scared herein or to
<br />such attter address a: Lender may designate by notice to Borrower as provided heretn. Aoy notice provided for in this
<br />Mortpge she!! be dtxroed to have been given to Borrower or Lender when given in the manner desi¢nated herein.
<br />1S. Utdfotr t1•/ost;tgs; GovsraiaL I.aw; Severaiihy. This form of mortgage combing tmiform covenants far national
<br />ux and non-uniform covenants with limited variations by jurisdiction to constitute a uniform saurity instrument covering
<br />real progeny. This Morgage shall be governed by the law of the jurisdiction in which the Froperty is located. In the
<br />event [het any provision or clause of this Mortga(tt or the Note conflicts witty applicabk law, loch canfliet shall not afire[
<br />odter provisions of this Mott=age or fix Note which can tx given eHat without the conflicting provision, and to this
<br />cad the provisions of the Mortgage and the Note ace daiared to be severabk.
<br />li. loeetssrer's Coq. Borrower shall be furnished a confotmd copy of the Note and of this Mortgage at the time
<br />of exectttiesr or after tttxadation heneof.
<br />1'f. 'lYe~ir of Ahe Arlssty; Arsratptea If all or any pars of the Property or an interest therein is sold or trsnvferred
<br />by Harrower without Lender's prior written convent. excluding (a) ttx creation of a lion or encumbrahce subordinate to
<br />this Mortgage, (b) the creation of a purchase ttttxrey saurity interest for household appliances, (c) a transfer by devise,
<br />daaat of by operation of law upon the death of a joint tenant or id) the grant of any teaaehold interest of three years or less
<br />not txntamrng as option to purchase, Leader may, at Lerrdei s option, dalare a31 the sums sauced by this Mortgage to be
<br />immediately due and payabk. Lender shag have waived such option to accelerate if, prior to the sale or [ramfer, Lender
<br />sad the person to whom the Property is to be sold or transferred reach agtcement in writing the[ the credit of such person
<br />is satisfactory to Lender and that tlx interest payable on the sums sacred by this Mortgage shall be. at such rate as Lender
<br />steal{ trsgttest, Ii [.coder has waived the option to atxekrau provided in this paragraph t 7, and if Borrower's successor in
<br />eMreet has esnctrted a wtittm assumption agreenxat accepted in writing by Leader, Lender shall release Borrower from all
<br />ohlii)etioos tinder this Mortgage awd the Note.
<br />Tf [.ender exrrcises such option fo accelerate, Lender shaft mail Harrower notice of accekratioo in accordance with
<br />pengrapir 14 hereof. Stirch notitx shalt provide a period of trot leas than 30 days from ttx dax the notice is mailed within
<br />which Bbirowp may pay the sums doctated due. if Borrower #aiis to pay such soma prior to the expiration of such period.
<br />Liadar essay. witlsout ftuthu notice or detnaad on Borrower, invoke any remedies permitxd try paragraph ; g hereof.
<br />NOt+•L'N[PastY CovexAresa. Horroerer-attd l,ettder further ; avenan! and agrce as follows:
<br />II, AceeiiseYesst Reaoise. Bip/t ss p-wvHai In rataHrgb 17 Mreof, Woe durwwer's breisb of ay cevsaoet or
<br />gtMralat lllaoetrsor (w tbi.Muytt<e, Lcidisttt tie cuvesuMa tw pray where doe say errs sceresi by this McAgage.
<br />Li~lrit gar« N aoaolsaMfttlt.aittH s~eY aeYee to lferrower as provided is peragrrtr[s 11 iu.et sPacityisR: (i) tie Mead;
<br />~ IYs.#tY1ts ra/siutl M drs sosi heoeei; !3) a dice, s»t Ions tlro 3Y cloys fror tic dMe tic ootlee b ra~iert to llorrotrer,
<br />ip m4kAi:tsael[ iaiMCi anll is assedl stud (d) [W faHose 4 ceee aaci bsaci a or before tie t1Ne spelled ie tie astlee
<br />sq! swM ie.neabsetle~ M Uto recces solaced by tisi Mos~ap, forocfosrre by j.dlei.l prwccattirrg and ,uk of tie Property.
<br />'i'Artselkrsittr;isiMt isiassa Jilowwar art IYe r[gis m eeieatlllr afNr accekrotiro asd tie rigs/ to arson is tie [orerlasue
<br />rrtlMt~trE tie arle,a4e~a ~[ a tidirit ar cry otlru dsfssrse of Bor-owu tw accelctratioa sad torsclaws. It tic breach
<br />iFSiet ~a~ or ~IG1ea /he dMa.apaeifai. ire tie srske, Levu u f.emkr's ogAiow racy doclxe aY of tie ears sectrtxd by
<br />t~I M4~s a is MsMNdIMIi{y doe aced r•gaiie +rCioat fartlrr tleaaaad cud may foreclose by laditiat Procrosdisy. [.coder
<br />slrti ~astsyYsd N S?rt~lt41-4lrNFi gnoaa/IaH aft eaPoaars d lorsciosare, lactadistg, bW nW [Mriod to, cwb of tlocatrsatary
<br />sKH~a, aislrzs~ asr/ tMs elvers.
<br />igt. )Iasww[tta ~t to Rilrtetato. Notwithstanding t.endei s acceieratton of the sums secured by this Mortgage,
<br />HOrfOwW shall lyge this ri{bt to tmvo any pra:sedi:ngs begun by lxader !o enforce this Mortgage discontinued at any ttme
<br />
|