|
80- X05183
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interzst thereon, shall become additional
<br />indebtedness of Barrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, suet
<br />amounts shalt be payable ,'eon notice 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 a[ such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable taw. Nothing container! in this paragraph 7 shaii require Lender to incur any expense or take
<br />any action hereunder.
<br />8. ittspectiott. Tender may make nr cause to be made reasonable entries upon and inspect,ons of the Frnperty. provided
<br />that Leader shaii give Burrower notice prior to any such inspection specifi~ing reasanahle cause therefor related to Lender's
<br />interest in the Property.
<br />9. Cotrdetnnafion. The proceeds of anp award er claim for damages, direct or mncequential, in connection with any
<br />condetr,nation ar other taking of the Property. or part thereof. nr for conveyance m lieu of rnndemnatian, are hemby assigned
<br />and sha13 he paid to Lender.
<br />In the evtni of a total taking of [he Property, the proceeds .hall be applied to the a,m5 steered by this Mortgage.
<br />with Eht excess, if any, paid to Borrower. In the event of a partial takmo of the Pmperrc. unless Borrower and Lender
<br />otherwise agree in writing. there shall he apptie;i to the sums secured by this Mortgage such pmpartian of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by th,c blangage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediareiv prier to the date of ,akmg. with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or .f, after notice he Lender m Rarrosver that the rnndemnor offers to make
<br />an award or settle a claim for damages. Borrower faik n, reps+nd ro Corder w~uhm 7n day. after the date such notice is
<br />mailed. Lender is authorimd to cotlect and apply the pr',cceds. at I ender's option. either to restoration or repair of the
<br />Propetty or to the sums secured by this Mortgage
<br />Unless Lender and Borrower othrrw,ce agree m •xriting. am such apphu,t n of pnkreds to principal shalt not extend
<br />or posipane the due dart of the monthly installments referred to in nnracraph, ! end '_ herraf ar change the amount of
<br />such installmems.
<br />18. borrower tint Released. Extens,an t+( the trmr fur payment .,r modifi<a::,+n „t amor,,,azwn of the sums secured
<br />bV this Mortgage eranted by Lender to an} succc++,=r :n m±rrr,t =:f R„rr.,,+e; ,halt nr, operate to mieast, in sop manner.
<br />the liability of the arigioai Burrower and Borrow rr~, wca s,nn •n in,rre,* I ro-drr ,hall not he required to commerce
<br />procesalings againt such suecessnr or refuse :a rxiend rime f.+r pa, mint av <,i tferwr+r modify amartt'tat ion of the sums
<br />secured by this Mortgage by reason of .vm demand made !„ the .,rte+na! Aorrnwrr ,rod R„rmwer's sucrtscors in interest.
<br />il. Forbearawee by [.ender tiM a Watery. ••\m forhraran_r M I cndrr to c,rrr„,ng .vn right „r remedy hereunder, or
<br />atherwtse aft+ he a ua+er t - pr• tuor 'he ~x -ise s+I env such right or remedy.
<br />Tht procure t i 4nY t.r rs - -tl:rr t.en r char , by I rider shall oat he a u-arver oC Lender's
<br />right to accrie to tr ~<, r-.d h+ th.~ li rtgae
<br />SZ Ren~ltl'!!b~~~Drr+ dcd =+ the St rtg.,ge ere divm.z and rumulauve to any <,ther right ar
<br />remedy under this Mortgage +?r atiarded by lau ,,r rqu:t} nrci rna+ Ft r,erc,sed ~oncurrentis~. independently or suecessivel}.
<br />iJ. 5tteeewers and Anti?tns board: Joint and Sestt9l 1iab0ih: ('aptians. lire .n. orients and agre+:ments herein
<br />coma}nett sha37 hind. and the rights hereunder shaii ,Wore .:..he re,pe. r.,c susc,c.>r, .rod asaigm of 1 ender and Borrower.
<br />sublec~i to tM provistans o+, paragraph 1, hereof AIE covcnent, rind aerermrnt, of Barmwer shall Fk ioint and several.
<br />The captions and itcadings of the paranrapM .+f this i9„rigagc .err is+; .;,nsen,en,r :+nlv end arse not to !x used to
<br />rmerprtt or de6rr the provision, ?ttreof.
<br />1!. \atke, Except for ant' nonce required ender applicahic !au ~; f+t g,ver. ~n another manner. (at soy notice to
<br />Borrower pmv-ided for :n this 1lnsigagr shaii ht gn~rn i,s' roasting ,uch not:cr hs ;rrt;fied ma,l addressed to Borrower 3t
<br />the Pzxaperty Address or at suite other address as Borra?wrr rna, des,}rnate t,x~ notice t., tender a: prrn^isicd herein, and
<br />thi any ncNict to Lender shall i,e given h}- certrntd ma,l. retrern recc,pi -ryacsicd. r=+ t rndtr', zddress stated herein or to
<br />such other addrea as Lettdrr ma} designate by nonce t;+ Barr.+w-er as pra.,ded h+~rrir: 'tiro notia:r pmvrded (ar in this
<br />Alartgagr shaii he dttmtd to ha,t i,ern given '? Bnrmwrr nr 1 coder ~-.+i?e-i , vin tit rtes manner designated htrcin-
<br />1,4, L'niterta itoRtt:agr: Gmrrtttiatt Law: Severaln7ih, i'h:, !.+nn a+t martiagr ..+mhints ,rmform rovtnants for national
<br />use atxi tu~it-uniforna ea vtnants with iimaed ,-ariauoac h+ >urtvl~ctron n :. nstrtutc a un,forr:, x~surxn~ instru mint u,vering
<br />rcai prgpert}~ This Mortgage sheik i•,r go,rrnrd 'ha rtes is>_u .+1 tfx ,:ore,Jri t,,,r. ~.n uhi,h the Propl`rt: +s located In the
<br />ev~5i that any pravesion or tiaax os thi+ Al~ngage , ~ the Nntt ravtficts Koh appi+cahk law ,uch cortl:ri shaii not affect
<br />other pmvtsit'irts of ffiis Mortgage as rtes Note u$:ch car, he g;vtn stirs-t wrthcnrt ±hr tontLcting provkion and to this
<br />end the pravisvans of t)fe >tortpage and ttte \ntc arc :.trcfared a+'•c sr+°rreh?e.
<br />1L. boarewer's Copy.. Borrower shaii hr f,crn.shed a ctmfe~rrncd ,opv of the time an=f :=f th:, Mortgage nt the amt
<br />of execr_Aipn ar after ru~ordatiort hcteai.
<br />1T, Trorttr of tk rroperlt: Asanarptioa. ti ail ,,r an. pars of the Pre+prrtx „r alt mttrt~st there+n is sold c:r ;ransfer:eci
<br />by Borrower without Lender's pnnr written .,+nsrnr esci<rding ,..i rhr :reat;on „t a teen ar tnctm,France sutxxilinate to
<br />this Mortgage. fb) the etrattan of a purchase money sccurtn ~n!rrrst for hnusehnld applsancec. ,c1 a transfer by doyley.
<br />descent ar by optra[ion of tau year, the death +:i a ;o,nt icnatn or sd, ;he grant of any l: asehaid :merest of !hrec }cars or less
<br />trot cottxaining an option to purrhaae, t.eresier ma+. at t esedcr'- .+pu„n drtila,c• aft the ~utcfs sc~~:rid hti th,s Mangagr t,, br
<br />immediately dttr and payabk. t.cnder sits?} here ua.r:ed nt>h ,+pt,on t,~ :,<iriernte :t. error ta= the .ale or transfer, Linder
<br />and the persari le wham tht Proi*z<iy e; to kx sot.! or IrsnsR reed reaeh .egreemeni .n oolong that the cree{ri of ,uih ~rsc,o
<br />i5 satisfactory io Is+sdet and chat tfte interc>t pal-stele <:n the .um, sccurrd f+y tilt: Y:lortgagc shaii he at such rate as i.crder
<br />shaii regtteai. If !ender hits waives! the aptson e,. s;:ctie; alt pros,dtd in this paragraph i' rind ,f Bx,rrower's succassar in
<br />interest has exauted a written assumption agretittent acceptzel i-^. ,s clung by Lender, Lender +hail colorer Borroutr from ail
<br />obiigatii~tas under this Mortgage and the 'volt.
<br />- If Ltndtr txtrrises Bch op-Isoa tc> ~:relerste. €ender shah mail Barrow-tr neucr of ar_eferxt:nn an aordance note
<br />paragraph FS hetreof. Sylch ttc>itct shall prcctdt a ptracxi of n+~t ties than i(l days frc,m il,c date the Hauer rs rnaikd within
<br />whitTe'Borrower may pap- the sums des",asr.1 doz. li Borrower fork to pay rteh cc.:ms pn.,r ta, the rspirasaan of such ia:ruxl,
<br />Lender tttay, witispl;t fixrtber natter or dtmartd an Borr<+aver. ,nvakr any remedies per:n•tteci h, :,..aragraph ! K hereof.
<br />Ntt*t-Unt[=1>att CavEN~v7s. Snrruwer an,i t. ender turther ca+cnam and serer a, ta,tiows
<br />lt. AcadeeaNan; Rente~i`ies. F.aeept as prartded N pt+raRraph IT hereof, upon Eorros.er's Drench of any covenant or
<br />a{ratweat r+t borrower iw tlri llortbrtge, iwcGtditK the covenants to pay when doe am Burns snored by this !Norge.
<br />T.~de+)MNr N aeaelteaNoa aDoY nail notice eo 6an~ower as provided in parttetaph IJ hereof' cpetifyin': {t) the Mooch:
<br />(Sy Ule trrflaa N ewe attci 6[earsh: ;Ji a date, not tors. ikon 3U days from tlrt date the nalice h mailed to harrower.
<br />iY wNei ench ianrD twniq 4 erred; rid ti) tdtat faBnre to cure loch breach oo a btiorr the date specified is the rnitite
<br />tttth raarM M oaroktMlar of lire aritat secw'ed by this ~ft.rl=rtRe, farecMtsitre by jirdicird prucvtdirrg and salt of the property.
<br />Tie ttntlco e1tM trrfYer Mfornr barrowtr at f4 ridhf is relantWc artcr accekrnlan and the right lu asseA in lht fored~trrr
<br />praoeil~ Rye iMa~eaitleaer of a dr(attN w any ot4r deftras[ of 6wrower to acrekratiun and frrreelusrre. It the breach
<br />it teat triad ow w DNore 14 date spsc3RN io t4 nruke. I ender st Isrtder's aptitr» rosy rhxtare alt of the serns secared Dy
<br />.~Y N 4 ireriediWety drx rwd payable witMwt fsinher Aernard and tray farechrx by judicial praceedieR. Deader
<br />tiny 4 etgWA N avberet io wri proreadiab ail e><peaarR of forecMsure, tnclodMg, but not Broiled to, roars of docameatan
<br />trridertY, oYtraele and dUe repoAe.
<br />lf, lorrr+rai'a Ri~M N ReirMara NarwNhst:rndeng !_endtr's accrkcauan of the cv;na sciurrd by rhos Mn[zgagc.
<br />Bbrrovner shaii have the tight fio have any pro:4`Cdi»gs hegtm by i :rider in tettxee thn hlettgagt ducauunucd at env urn,:
<br />
|