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80-U0527(l
<br />Lender's written agreement or applicable law. Bartowtr shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 3 hereof.
<br />Any amounts disbursed by Lender gursuant to this paragraph 7. with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall he payable upon notice from Lender to Borrower requesting paymem thereof. and shalt bear interest from the
<br />date of disbursement at the rate payable from time to time on autstandmg principal under the Nate unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amrnmts shall hear interest at the highest raft
<br />permiuible under applicable law. Nothing contained in this paragraph ', shat) require Lender to incur any expense or take
<br />any ac<.on hereunder.
<br />8: Iospeetimn. Lender may make or cause to he made reasonable entries upon and inspections of the Propeny, provided
<br />that Lender shall give Borrower noUCe prier to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemmtion. The proceeds of env award or claim for damages, direct or consequential. in connection with any
<br />condtmnaNon nr other taking of the Pmpeny, or part thereat. nr for cam~ey:nce in lieu of condemnation, are hereby assigned
<br />and shalt he paid to Lender.
<br />In the event of a fatal taking of the Property, the proceeds shall he applied to the sums secured by this Mortgage,
<br />with [he excess, if any, paid to Sorrawcr. In the cram of a partial takinG of the Property. unless Borrower and I_endtr
<br />otherwise agree in writing. there :hall be applied to the vms stcnrcd by this M1lortgage such proportion of the proceeds
<br />as is equal m that proportion which the amount of the sums secureel b}• this Mortgage immediately pricer ro the date of
<br />taking bears to the fair market value of the Pmpeny immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Hoerower.
<br />If the Property is abandoned by Bnrrou•er. ar if, after notice by Lender to Bnrtawer [hat the condemnor offers to make
<br />an award or settle a claim for damages. Barmwer fails to respond to i.ender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Proptny ar to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise egret in writing. env such application of proceeds to principal shall not extend
<br />ar postpone the due date of the monthly installments referred to in paragraphs 1 and '_ hereaf or change the amount of
<br />such inseatiments.
<br />IB. Borrower Not Rekaaed. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mattgage granted by Lender to any successor in interest of Barrnwer shall not operate to release, in any manner.
<br />ins iiahifiry of rite ariginai Botrawer and Ba ,oN•er's ;-asses .-.r::n ir:tt t. lender shall oat let required to cammen~
<br />protxtdings against such successor nr refuse to extend ume+fnr payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made be the anginal Borrower and Borrower's s~fccessors in interest.
<br />Il. Forbefraete by Leader Not a FVairer. Am fonc~arzncc ha Lender in exercising any right nr remedy hereunder, or
<br />ath~ ~ 4 - 1 ~~fkrlaw, shalt oat he a war+'er ,+f rr preclude the exercise of any such right or remedy.
<br />Tht~r eme~¢1ee garment of taxes or other hens or charges by Lender shall not he a waiver of Lender s
<br />ri¢ to ~~Iet[yruf ihe:indebtedness secured ffy [h:. Mortgage.
<br />'~4•cmedies nrncrded in this ortgage art distinct and cumulative to any other right a:
<br />remedy ttitder ibis Mortgage or afforded by law rr equate. arts' may ht exercised connarently. independently or successively.
<br />21. Sceeasona evd As~as Bound; Joirtr and Severe! Liatfiiity: faptions. The cnutnants and agreements herein
<br />contained shall bmd, artd the rights hereunder shall inure to. iht respective successors and assiens of Lender and Borrower,
<br />subiect to the provisions of paragraph 17 hereof All covenants .rod .agretmen[s of Borrower shalt he joim and several.
<br />The captions and headings of the paragraphs of this Ma~teage arc fnr com•er.rence •~nly and are oat to he used to
<br />interpret or define the provisions hueof.
<br />11. Notice. Except far any notice required under applicable law to he grven :n another manner. Cal any notice to
<br />Burrower provided far in this Mortgage shad ht given by mailing such nodes by certifted mail addressed to Borrower at
<br />the Property Address or at such other address as Barmwer may desgnate by notice to Lender as provided herein, and
<br />tb7 any notice to Lender shall 6e given by cer:ificd mark retain receipt requested, to [.ender'. address stated herein ar to
<br />sttelr other addre~ as I_tnder may designate by notice to Barrnwer as prosnded herein. :1ny notice provided tar in this
<br />Mangagt shalt lx deemed to have been given ro Barmwer or Lender when given in the manner designated herein.
<br />i5. Uailore MotYgaRe; Governing law: Srvrrabilih, This farm of mortgage combines tmifortn ~~ venants for national
<br />use artd non-uniform covenants with limited variations M• jurisdiction to constitute a uniform secunts• Instrument covering
<br />yeti property. This Martgagt shall Ix eaverned by the law of the jurisdiction in which the Property is Irn:ated. Tn the
<br />treat that any prnrision or clause of this 'siorigage or the Notc a+nflicts with applicable law, such conflict shall not affect
<br />other pravisia.as of this Mangagt nr the Note which can be grven effect xvithout the ccnfliciing provision, and to this
<br />cod the previsions of the Mortgage and the 'vote are declared to he severahlt.
<br />Iii Borrower's Copy. Borrower shall be furnished a conformed copy of the Mott and of this ilortgage at the time
<br />of extcutinn ar after rernrdstinn hereof.
<br />1T. Trustier o1 tYe 1!Ro~any; Aasuenpfion. If ail or any part of the Property or an interest tiiertin is said or transferred
<br />by $ormwtr without Lender's prior written canseot, excluding ice) the creation of a lien or encumbrance subordinate to
<br />ibis Mtx;gage, {h) the ereatian ai a purchase mnrtey security :merest far household appliances. Ic) a transfer by devise,
<br />descent o; by apeia[ian of law upon the death of a join[ tenant ar rd, the gram of any leasehold interest tit titres years or Less
<br />rift .containing an option to purchase, Lender mav, at Lender ~ ogteon. declare at1 the sums secured by this Alangage to be
<br />itnmediattiy due and payable, Lender shall have •.varved such option a, atcelerate rf, prior to the ,ale or transfer. Lender
<br />and the petsoa to whom the Property is to bt so#.! or transferred reach agreement in u•nt:ng that the credit of such person
<br />is satasfaefory Ya Lertdtt artd that else interest payable an the sums secured by this \tortgagt shal3 he at such rate as Lender
<br />shall request. 1f Lertdtt has waived the option to accelerate provided in this paragraph i 7, and if Borrawei s successor in
<br />interest has extcattd a wririen assumption agreement accepted in writing by Lender. Lender shall release Rorrawtr from all
<br />obligations under this Mattgagt and the Note.
<br />If Ltnder exorcists Belch option to acctttratt, Isnder shalt mail Borrower notice of acceterauon in accordance with
<br />paragraph 73 htrtarf. Such natict she#I provide a gvriaei of not less than ?0 days from the daze the notice is mailed within
<br />which 13orrowtr may pay the Burns declared dot. 1f Borrower fails to pay such sums goer to the expiratiau of such ptrrefd,
<br />Gender may, withou4 further notice ar demand an Bartowcr. irtvakt any remedies ptrmaiied r,y paragraph i R hereaf.
<br />Pio!~t-ilNt[F41tM ~BVEHhiiT3. BOrrat%er and tender further : avenant and agree as tallawa:
<br />iR. Accd~atiar, ittaeiies, Fang as provided is paragraph 17 hereo#, upon Boero+ver's brrac6 of any rartna+ft or
<br />ttBaunantt of lerterrrtr u 1Yfc 11wtRfge, including rte covroanfs to pay >.ben due any sutne urured by this Mortgage,
<br />[,tayiur•~iyr N ar#rraiiair sMdl rrYttli aa:ticr fa Barrnwer as provided is paiagrapb 14 hereof sprzifyi~: tf) the 6rearb;
<br />(2) ~e aIYY* rid M ewe such breacY:13I a dste, cwt ksc [haa 30 days from the daft the notice i5 mailed fo Borrower,
<br />Y~ tit wle#t,ysgti titutA 4 eared; auiA (d1 that failrre to curt sorb breach as or before tine date apeci6od is fbe notice
<br />aty'. t+uuY Ylt srdlar~IlM aal 1-e rarasx Berated by this tiort;age, foreclosure by judicial pnfcetdiog aced sale of the Property.
<br />Tie rrelke t11raR Itrrllter 6rfgrw >{urrirwer oI tie right w reitntate after areeleratimn and the rigbr to asstri in the forecl~uce
<br />2~'~ Ole_aell.efciMe~re o[ a debate yr ace) aff.er dettase aI tiornower fo at:cefnntiop nod foreelosart. tl the breach
<br />is tar tNai urn ur -t1+wc Cite date speelied in tint natiee, lender at Lender's option may declare all of the sums secured by
<br />tit lMiMt~rMe rq re lw.pedlalrly dPC aMi pa}abk witMwt Fncfher demand and may foreclose by ~adicw prneetdiug. l.endtr
<br />fM11K ~f lr[rY~a/ M roB~ct-ie twrh ~toeeed4g a8 expeates a2 fureclost+re, i:.rludieg, but cwt limbed ut, casts of documentary
<br />tviir~Ite2 aLAtsrrc and title rrportc.
<br />if 1lefttpwlf'In RlgYt to AliYruft. Netwithsiandina 1 rndct •e :resets ration of the sums secured b} this Mortgage.
<br />Barmwer Blade have the .r3glft to hfrvt auy, prractedings begun by Lender t„ eufercc this ?.lnrtgagr drscamnmtcd at any true
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