|
r
<br />$1-- 001973
<br />t..ender's wttitteu agroemtnr or applicable law. Harrower shall pey the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 herarf.
<br />Any amounts disburatd by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />irtdtbtedttess of Borrower secured by this Mortgage. Unless Borrower and Lender agree to ether terms of paymem, such
<br />amounts shall 6e payable upon rxreict €ram Lender to Borrower requesting payment thermf, and shall bear interest from ttre
<br />daft of disbursement at the rate payable from tint to tutu nn outstanding principal under the Note tmless payment of
<br />interest at such me world be crnttrary Yo applicable law, in which went such amaums shall bear inkrcst at tht highest rate
<br />;z"t'~ile tRr appl~abA law. Ncs<hing ctmtair:af in this paragraph 3 shall require Lender to it5t:ur any expettae ar take
<br />any action hcreurxler.
<br />S. ) Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall glut Bortower notict prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />intet~est in flu Property.
<br />9. Cwnleenndton. The proceeds of any award or claim for damages, direct or consequential, in cnrlnection wish any
<br />condemnation or other taking of the Property, or part thereof, or far conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a rota! taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage,
<br />with the eztxss, if any. paid m Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall 6e applied m the sums ttcured 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 daft of
<br />'taking ~*.s to ttr_ fair msrkct vslt~ of the Property immediately prior to the daft of faking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abaetdoned by Burrower, ar if. after notice by Lender to Borrower that the condemnor offerv to make
<br />an award or settle a claim far damages, $orrawer fails to respond to Lender within 30 dayrs after the dart such notice is
<br />mailed, Lender is authorized to collect and apply the prtxreds, at Lender's option, either to rt3toration or repair of the
<br />Property ar to the sums sccurmd by this Mortgage.
<br />Unless Lender and BirROwer otherwise ague in wrieiag, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and :hereof or change the amount of
<br />such imtailttxtNS.
<br />lA. Btrsvaer Atoll Released Exttnsian of the ume far payment ar modification of amortization of the sums secured
<br />by thrs Mortgage granted by Ltnder to any succcxsor m interest of Harrower shat! oat operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successor in interest. Ltnder shall oat he required to commence
<br />proceedings against such auccessar or refuse ro extend time far payment ar othtnvise modify amortizatian of the sums
<br />~ur'ed by this Mortgage by reason of arty demand made by the original Borrower and Horrower's successors in interest.
<br />Il, Por6earrce bl' I,rrder fiat a Wdver. Any forhearanee by l ender in exercising any right or remedy hereunder, of
<br />ottterwiu sffordmd by appticablt law, shat! oat he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the traytnent of >.axes ar cxher hem nr chases by f.endcr shall not Ire a waiver of lender's
<br />right to accelerate the maturity of the indebttdntsz secured by this Mortgage.
<br />13. lleate8iea Caruiatlst. Atl remedies provided in this Mortgage err distinct and cumulative ro any ether right or
<br />rcmtdy under this Mortgage or afforded by taw or equity, and may he exercised coneurrcntly, independently or successivG.y.
<br />13. Srttassant sad Asal=m Booms; ttt~t aced Severe! l./alriBtr; Carotiow. The cavtnants attd agreements herein
<br />cantairted shaft )rind, attd the rights tereunder sbatl mare to, the respectivr successor and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph t 7 hereof. All covenants and agreements of Horrcwer shall be joint and several.
<br />Toe captions acrd he~ings of the' paragraphs of this Mangage are for convenience only .toll art not to be used to
<br />interpret ar define the provisiaus hereof.
<br />id. Nafkt. Percept far any malice required under applicable taw to be given in another manner, ta) any notice to
<br />Borrower provided for in this Mortgage shall br given by mailing such notice 6y certified mail addressed to Borrower at
<br />the Property Address or at such othtr address as Borrower may designate by ratite to Lender as provided herein, and
<br />tb) any notice to Ltnder shad be given tr, certifud malt, return recr~pt requested, to Lender's address stated herein ar to
<br />such attar address as Ltrtder may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shal9 he deemed to have hten given to Horrower or i.ender when given in the manner designated herein.
<br />t!. lirdortr h(aetg~e; ~overrlrg Law; Severr(t~ty. 'Thts form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdretian to eoratitute a uniform suurity instrument covering
<br />:cal property. This Mortgage shah be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision ar douse of this Mortgage or the Nate contticis with applicahte law, such conflict shalt not affat
<br />other provisitms of this Mortgage or the Mete which can he given effect without the corflisting prevision, and to this
<br />end the provisions of the Mortgage and the Na[c arc dcciared to be severable.
<br />1.6, ms's Logy. Borowtr shall be furnistud a c~nformedwpy of the Note and of this Mortgage at the time
<br />of ptet:ution or after recordation hereo€.
<br />1T, i'ttarder of tits ltragetiy; if all or any part of the Property or as interest tfxrcin is sold or transferred
<br />by Borrower without Lender's prior written cattsent, excluding {a1 the creation of a lien or encumbrance subordinate to
<br />this ?~arC;.,g<, (b) the ration of a piirc,Yaxe ntsxtey security interest for household apptiatsces, ic) a transfer by devise,
<br />dascatt oe by aptration of law upon the death of a joint tenant or tdt the grant of any Itaaehoid interest of three years or less
<br />oat containing an option to purchase, Letuier map, at E..ender's option, declare all the sums secured by this Mortgage to be
<br />itmediately due and payable. Lcntkr shall hav°t waived such option to accelerate if, prior to [he sale or tranaftr. Lender
<br />and the person to whom tfte Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satirfactoty to Ltnder and that the interest payable nn the sums soured by this Mortgage shall 6e at such me as Lender
<br />shall request. if Lender has waived ttte option to accdente provided in this paragraph 17, and if Borrower's succeaaor in
<br />intrttat has executai a writtat asstrtrpti+an agreement accepted in writing by Ltadcr, Lender shall release Borrower from alt
<br />obligaii~ under this Mortgrge sad the Note.
<br />If Larder exerciws suds option to acsetuatc, Lentkr shall mail Borrower notice of acceleration in accordance with
<br />paragraph t4 hetnoi. Ssrds Haute shall provide a period of cwt }ess than 30 days from the date fire notice is ma7ed within
<br />whtelt Borrower maY PaY tht sums d~larcd due. if Borrower faits to pay such sutra prior to the expiration of such period,
<br />Leader may, without farttttr notice or demand on Horrmver, invoke any remedies permitted by paragraph 18 hereof.
<br />Nowt-Utttraaas t'ovarretvrs. Borrower and fxrtder further rnvenant anti «gree as follows:
<br />iR. Atc~aeabirr, i0nssiies. t?teq/ w prerit{eti tat p E7 hereof, tgou Borrower's 6reacb d ay covetuat or
<br />d 13tr.-rasratr to ~ ttte, tws-is~iaat ~a cavtnasts to pay wtsea dot arty sows eaatN 6y tMs Mart,
<br />~rtfrls s-sst~iea+ catsts ~ lte~e5; ta) a dabs, rat ens ~s fs~oes ~ ~ees+b se~it8ed Bow
<br />by + ttttrb ittnsdr and bet ewrit aril tat ~ ftiarr to crrtr rwch lfseaeh as ~ before the ~ spmci6ad is the ttrrtlee
<br />.teB wrtttt is ~ d rite stew xtecuei -y Brit MwrBage, fostckastre by prezeet~ fret ark of the Property.
<br />fits 1.gfica aAgii ttreMtse dbtfrrta lterr-watr of flee rIRiM es relrartee aNar scttlmrtkra atti fire rigCN to avert ~ the fottaclosrre
<br />fs~ aft ee lbabws ~a ids itrittaM otr asy oabar defeaae d Borrarrer t6 acrNFealfest and fomrlasne. R tlrc hereby
<br />~ it Wr tsrtiey t.eaier a teaser's epeiar easy der)wo all of'tbe s~ attrrred by
<br />tllit &r ~ etrr ors ioyaiYk srlthrtat fnsNoar iartrti std arty fotedose hl' ~~ p~~ i.esder
<br />Ante M saelasd to tailwt iw web l:.w.sM/p aB ttel+twa of faeeeleaora, ~ Itsa tat IhtdNed tq ewes of doerasetttaey
<br />+~r, ~ trt# rsPe~
<br />1~, irrpYtry~t ~ M tbelr~swea. D<<atwiebafattdittt; E.eakr's actatleraiion of the sums secuml by this Mortgage,
<br />lbasrvst~ aFrail haxar ~ to farce tm'd Pingf txgtnt by t.rntler to enforce this Mo
<br />rtgas~e descantioued at any ttmc
<br />
|