|
<br />81-~)U2102
<br />Lenderswritten agreement or applicable taw. Borrower shall pay the amount pf all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed bg Ixnder pursuant to this paragraph 7, with intcresY thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Cinless Borrower anJ Lender agree ro other terms of payment, such
<br />amounts shall he payable upon notice from i.ender to Dormwcr requesting payment thereof, and shalt hear interest from the
<br />date of disbursement at the rate payable from time to time nn outstanding principal under the Nott unless payment of
<br />interest at such rate would be contrary to applicable tare, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing rnmained in this paragraph 7 shall require fender to incur any expense or take
<br />any action hcrcunder.
<br />8. Inspection. fender may make or cause to he made reasonable entries upon and inspectians of the Property, provided
<br />that Lender shaft give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of an}' award nr clarm For damages. direct cr consequential, in connection with any
<br />condemnation or ether taking of the Property, or part thereof. or for conveyance in lieu of condemnation. are hertby assigned
<br />and shall be paid to Lender.
<br />In the event of a total taking of the Property, the nroweds shall he applied !n the sums secured by this Mortgage.
<br />with the excess, if any, paid to Borrower. In the event n(a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shalt be applieJ to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to Iha[ proportion which the amount of the arms secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Propcrt}' immediately prior to the date of coking. with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if after notice by Lrndcr to linrrower that the rnndemnor offers to make
<br />ar. award or settle a claim for damages, Bormwer Calls to respond to lender •.vithin 30 days after the dart such notice is
<br />mailed, Lender is authorised to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured by this Atorteage.
<br />Cinless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or pnstpone the due date of the monthly installments referred to in paragraphs i and ?hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modifiartion of amortization of the sums secured
<br />by this Mortgage granted by Linder to any successor at interest of Borrower ;hall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in intcrca. Lender shall not he required to commend
<br />proceedings against such successor or re6ae to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of arts demand made by the original borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender No[ a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />rlherwise afforded by applicable law, shell not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens nr .barges by Lender shall not t , a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this 14urtgai c.
<br />12. Remedies Cumulative. .All rcmedics provided in this Mortgage arc distinct :cod cumt:;ative to any other right or
<br />remedy under this Mortgage or a(Iordcd in• law or eyuitt•. onJ m:p' be e~.crcised concurrently, independently nr successively.
<br />73. Sucvessors and Assigns Bound; Jeinl and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assiens of Lender and Borrower.
<br />subject to the provisions of paragraph 1? hcrcof. AU covenants and agreements of Berrowcr shall he joint and several.
<br />t'nt captions and headings of the paragraphs of this Ivfortgagc arc for convenience o^ly an:? ::,- ..•.. .: he ~.sed t.,
<br />interpret nr define the provisions hcrcof.
<br />14. Notice. Except for any notice reyvired under applicrble law u, he l;rven :n another manner, ia) any notice to
<br />Burrower provided for in this Mortgage shall he given hp mailing such notice by certified mail acldresscd to Borrower a[
<br />the P.*operty Address or at such ether address as Berrowcr ma}• designate by notice to Lender as provided herein, and
<br />(hl any notice to Lender shall be given by cernfied mail, return recript reyuestcd, to tender's adctress stated herein nr to
<br />such other address as Lender may designate h~ notice to Borrower as provided herein. Any nn~ice provide) for in !his
<br />Mortgage shall be deemed to have been riven to Borrower or t.cnder when given in the manner designated herein.
<br />t5. Uniform Mortgage; Governing Law: 3everabllily. Thi, form of mortgage combines uniform o,venants for national
<br />use and non-uniform covenants with limits) variations try jurisdtdion ti+ constitute a uniform security instrument covering
<br />seer rV ~ - - ++•+ v<rniJ ilY ,. ~ ~+ +x n ~rt r , I :C::tt:l i.t rl.t
<br />p petty. Tin Io+tgage ;' I ~ ge' ' e l.,w o` .e ~ru ~ti. .n wl~rcFt t' ' ^'opcry :'.
<br />event that any provision or clause~ofUthis Mortgage or+the Note cmflias +cith applicable law, such amllict shall not affect
<br />other prr,visions of this Mortgage nr the Note whtch can be given etlrct without the condicling pre+v ision. and to this
<br />end the provisions of the Mortgage and the Lott are declared to be sex'erahle-
<br />i6. Borrower's Copy. Borrower shall be furnished a conformed cope of the Note and of leers Mortgage ai the time
<br />of execution or afer recordation hereof.
<br />17. 'Cransfer of the Properly; Assumption. If ail ur any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written a>nsent, excluding ial the creation of a tier, or enatmbranee subordinate m
<br />this Mortgage. (b) the creation of a purchase money security interest fur household appliances. (e) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or
<br />Lander may. at Lender's option. declare al! the sums secured by liars Mnrtgege to he
<br />immediately due and payable. Lender shnli have waived such option to accelerate if. prior to the sale or transfer, Lender
<br />and the person to whom the Property is w be sold or trans[errod reach agreement in writing that the credit of such person
<br />is satisfactory m Lender and that the in[erca payable on the sums secured by this Mortgage shall, he at such rata as Lender
<br />shall request. If 1_ender has waived the option to :accelerate provide) in this paragraph 17, and if forrower's ,uccesnor in
<br />interest has executed a written assumption agreement accepted in writing hr Lender, Lender shall release Borrower from ;il'
<br />obligations under this Mortgage and the Note.
<br />tf Lender exercises such option to accelerate. Lender shall ntaii Borrower notice ut acceleration in accordance w;th
<br />paragraph IA hcrcof. Such notice ehall provide a period of not less than ?t) day.+ Crum the date thu notice is ncailed withir.
<br />which Bormwer may pay the sums doclareci due. If Borrower fails to pay such some I±riur to the cxpiraticn of Loch period.
<br />Londe: may, without further notice ur demand un Dorrow-cr, tnvokc any rcmedics ; ennturJ M paragraph IS hereof.
<br />Nox-Utvtr--oast COVENAti rs. Burrower and Lender further covenant anJ agree as toilnws:
<br />lg. ACCelcratiou; Remedies, Except :rs provided in paragraph i7 htrruf, upon Borrow er's breach of any covenant or
<br />ngaecmtnf of Harrower in this hlerlg:tge, including lire covenants to pay ,+6tn due an?~ slims ..cured by this 'tlortgage,
<br />Letrder prEar w acctltratiun shall ntril native to borrower as Irrt»ideil iu paragraph 14 heron[ specifying: (1) the breach;
<br />(2) the attitrn rtquirad 4o cure such breach; (3) a data;, not less Urrn 30 ilays from the ilatt the notice is mailed to Ilorrowtr,
<br />by wbitb such hrtsch must bt cured; and 4a) that failure to curt such breach nrr or before the date specified in the noticr
<br />iisay resort in atcttleratian of the sums secured 6y this MurtgaKe, foretlusart by judicial proceeding :cod sale at the i'ropcrty.
<br />7be notice shall further inform Harrower of the Htrht to reinstate after aceeltration :vul the right to .rssert in the foreclosure
<br />proceeding the non~c:xislenct of a detente ac any Miter drfeusc o! Borrower k: antlerauou anti foreelmure. If the breach
<br />is con cured on or bt[arrt tier daft spedficd in ibv uutitt, Lender ul fender's option luny declare all of the sours secured by
<br />tlrlx Murtga~t hr ht innutdlalely due nerd payable wltlwuf further dtmartd atril taut forrclu.c 6y judicial proceeding. Lauder
<br />stf:rli be entitled kr rrriltrt in .trt'b procttdeng aB exirvnses =ri Fartclasurt, incluclinl;, bur not limit*d tar. co.+.ts of drrcunumary
<br />evideme, abstracts amt title rtp.uta.
<br />1~. ~flrru»'er's Right nn Rc'tnstate. NrRS:ghs!nutlntg 1_endeis :n+ei:°rairon :..>t eras ,nms ~.ccurcd hs thy; `•Aprtx:+gc,
<br />Barrr;iwct shall have the right t.- na>r. ,ri,y ptoeccdings hc)[u^ t e' t ccrdcr t.• cutorcs~ t!ns of rrak: .'~~ us.~.a+tnn~~:S et any t,atc
<br />
|