|
r
<br />Sl~iJE,•1 ;s'.~
<br />Lender's written agreement or applicable law. Borrower shall par the amount of all mortgage insurance premiums in the -
<br />- - manner provided under paragraph- Z hereof, - - - - - - - - - - - -
<br />- Any amounts disbursed by- Ixnder pursuant -to this paragraph 7; with interest thereon. shall become additional
<br />indebtedness of Borrower secured h}• this Mortgage. Unless Borrower and Lender agree soother terns of payment. such
<br />amounts shall he pa}•abie upon notice from tender to Borrower reyursting payment thereof, end shall hear interea from the
<br />date of disbursement at the rate payable from time to time on outstanding-principal under [he Note uniesspayment of
<br />interest a[ such-rate would be contrary to applicable law. in which event arch amounts shalt hear interest at the highest rate
<br />- permissible under applicable law. Nothing rnntained in this paragraph 1 shall require T_erider to incur any expense or take
<br />any action-hereunder - - ~ -
<br />8. Inspection Lender may make or cause to bz made reasonable entries upon and inspections of the Property. provided
<br />[hat Lender shall .give Borrower notice prior to am• such inspection specih'rng reasonable cause therefor related to Lender's -
<br />interest in the Property. - - - - -
<br />_ 9. -Condemnation. The proceeds of any award or claim for damages, direct -or consequential. in connection -.with-any- -
<br />condemnatipn or other taking of the Property. or pail thereof, or for convenance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender. - -
<br />- In the event of a total taking of the Properv. the proceeds ;ball be applied to the ruins secured by this Mortgage.
<br />with the excess. if any. paid to Borrower In the event of a partial taking of the Prnpertc. unless Borrower and Lender _
<br />.otherwise agree in wring.there shall he applied to the Burns secured by this Mnrtgaee such prop~rtionof the nroceeds
<br />as-is equal to that proportion which the amount of the sums secured h7 -this ':Mortgage immediately prior to the date of -. - -
<br />- taking bears to the fair market value of the Property immediaieh' prior to the date of taking, with the balance of the proceeds - -
<br />- - paid io Borrower. - - - - -. _ - - -
<br />IEthe Property. is ahandenetl by Burrower. or if, after notice by Lender to Borrower that the condemnor pffers to-make
<br />an award or settle 'a claim for damages, Borrower fails to respond~io.Lender within-30 days-after-the date Stich notice is - _
<br />mailed. Lender is authorized to collect and apply the proceeds. at. I_endcr's option, zither to restoration M repair of-the
<br />Property or to the sum.=. secured- b}' this Mortgage. - - - - - -
<br />Unless Lenderand Borrower otherwise agree in-writing, an}'such-application of proceeds to principal shag. opt extend
<br />or pos[jtQne the due date6f the monttih• installments referred to in paragraphs1 and2 hecenf or change the amount of
<br />_ _ such_ jnstallments. _ - - - -
<br />- - 10'. Borrower riot Released. @x[ension of tt;e time (or pai~ment or modifica[ien of -nmorliza(ion of the sums secured - -
<br />- - 6y this Mortgage-gran;cd by Lender to any successor in interest of Aorrower shall not operate to release. in anv manner. -
<br />the.liability of the original Borrower and Bormwjler's sue 'cscors in interest. Lender shall not he-required ie- commence
<br />_.. __proceedings against such succcssnr_pr refuse tp-c$tcgl nine for_pavment or otherwise modify-amortization of_ the-sums -
<br />- secured by this Mortgage by reason of an}• demar%d made by the origrna! Borrower and Rnrroaser's-successors in interest. - - - -
<br />-- - - 11. Forbearance by Lender Nrit a-Waives \n}' Conc~arance by Lender-in exercising any right or remedv hereunder. or -
<br />- - otherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right nr remedy.
<br />_ - -- - The'procuremenr of insurance or the payment of t}rxes-or nthcrliens or charges-6y Lender-shag not-hen-waiver of Lender's -- - - -
<br />right to accelerate the maturity of the indehtedne ,secured by this Mortgage. - - - _ - -' - - - - _ -
<br />__ _ 12:-Remedies Cumulative. A1F.remedies provided in. this ~tortgagc are distinct-and cumulative to -ang other right or - _ _
<br />- remedy under this Mortgage or hffnrded hd Iaty ur cytiin•.:md ma}• he exercised concurrently, independenfly or circcessively. -
<br />13, Successors and Assigns Bmmdp Jgint and Several -Liability: Captions.- The covenants and agreements herein -
<br />contained shall bind, and the rights hereunder shall imire to. tfie respective successors xnd assigns of L.endrr and Borrower: - - - - - _ - --
<br />- - subject to the provisions of paragraph 19 herep F., Ail cotenants-and agreements of Rorrbwer Sh:dl i?e joint and several.' - -
<br />' - The captions andheadings of the partgr.+phs oC this Mortgage arc for convenience ~mly and are_ ^r?t !o he used ao -
<br />- - interpret or define the provisions hereof.- - - . - - --- - - - - -
<br />- t4. Notic,e. Except' for any notice required under applicable law to be given. in another manner, tai ap}° nMice to - - - -
<br />- Borrower provtded-fpr m--this Mortgage-shall he ivrir ht rn ttlinew h-nonce M rrtificdmail addressed-to Borrower at' ..
<br />the Property Address ur. at such other address as~.Borr c r [naa. desranate- h} notice tq f ondcr as provided-_ herein, and _
<br />- - (E;) nn'v_notice to Lender shall.be given by csrtifie~l mail return etas pt requested. u? I.znder's address stated herein or to' -- _
<br />- - Stich other address as Gender:may designete'b} n~,ouce. o. Borrec. rr as proi~{ded hereto: An}t. notice grovidrd.-fqr in this- , -
<br />Morgage shall be deemed to hove been given to Borrnwar rr Lender wh n gir n m the manner designated hereto. - -
<br />__ -_ - --t$.--Unifunn-!Mortgage; Governing fisi}r Sc ~r.}Uitih f!ric r~~~ * ~r mbrigat,e ronihinrs umFormsovenants for natitnat-
<br />-, -use and non-uniform cotenants=wtth hmtrrt't znatpans 1 r -r~ n 4enstitenea. u~ferm-securittm•tniment eovering- - -
<br />real property This Mortgage-shill he gwernrd d the t me r sdiction w which the Pmpertt s located in the
<br />-- event-that any provision orclaux t t Inn-,M-vrga},q ea tLs \, tz_t ~ ~rl~r. xith apphtahlc-law such eon8+4t -shall not af{ect' -
<br />--------`----other provisions-of-this ?ytt+rtgag<-ar--the-1+•te>--which c,a+-.h. ~:+~in irk-r •~+•.ithouT-the-canflikting.-ire+isiun_:and_to-this,
<br />- end the provisions iiC the Mortgage and the ~: re are dcelored tci'be scssrAble-. _ - -- _ ,_- -
<br />- 16: Borrowers Copy. Borrower .hall he fiiuushrd ~ cunlormrd copy of the Nutc and of thjs Mortgage gt the time
<br />of execution or after mcordation hereof.
<br />- - 17. Transfer of the Propert,V: Assumption. tf all or any part of the Pn?prrty pr an interest therein is sold or transferred -
<br />6y Borrower without Lender'sprior written con~rnt, excluding la) Ih¢ creation of :: lien or encumbrance subordinate to
<br />- - this Mortgage. (hl the creation of a. purchase money xcurity imerest for houschuld upplumc.:es. tel.:t transfer t?y devise,
<br />- - descent or by operation of low upon the death of a joint tenant-or tdr-the grant o[ any leasehold iotrrrst of three }'cars or Icss
<br />-not containing an option to purchase. Lznller may, at Lznder'c n(etj _r decl:ue all the Burns seettred ny this Mortgage to br - -
<br />_ - immedialeh' due and-payable. [.ender shat) h- c waived ;uceh epttan t? atazlerate it,-prior to the-sale-ar transfer, Lender - - - -
<br />- - and [he person to whom ih¢ Proprrts is to be sold or transferred-reach-:igrvcmznl in writing that the rmdit of such prr+pn - -
<br />is satisfactory to Lender and That the interczt payable on the surir-secured M' this 946rtgagr shall'he ut-such rate as-Lender -
<br />- - -- _-shall request. if Lender Fins waived the o. ptinri [?i -ucceierate provided -in- th3 pa ragruph 17, .rgtl`it' Bnrrow•er'c successor in ' - - - -
<br />- interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower, from all
<br />oblightions under this Mprtgage and the Note. -. - - - - - -
<br />-- - if Lender escrcise Boob irpdtin ur-acealrrate, 1_e ndcr ;hall mail Borrower notice a( accaler<uian Sn ;tecordance with - -' - -
<br />_. paragraph 13 hereof. Such-notice shall provide a period of nbl-Icss thtiri_ ill da\s (aim-the date the--notice is mailed-within -_ _ _ -
<br />- which Borr?u'er may pay the sums declared due. It-Fat+rrm.cr tails o pay such sum+--prig to the. e~pir m.m of u.. h: period.- -
<br />Lender may', without further notice or demand on Burrower, invoke any rcincdirs perniiited ~tay paragraph 1$ hereuE- -
<br />NoN-LNU,aani t_avexex'is. -Eierrower and Lrttder further coienaut and agree as fnllpws;
<br />,_
<br />18.- Accrlerallon, Remedies. Escrpt as provided-in patngrtph 17 hcrroG upon Rurnntrr'S breach of any cuvauant or
<br />- agreement of Borrower in this'vfortgage inclii2ltog the cua ritmti.c. to pay Jiiiien dar aiir alms secured hg7hts-tliirigakc,
<br />- Lender prinr.lo.uccalerafinn shall mail nutice_fo .Borrower to pnrvidrd.iu purugrap6:-Id hereof .specifying: (Il-dtc breach:
<br />- - (ZTthr action required tu;care such bronchi f3i a_date; nut Iras_dian 3U days fi•um the dytr-dtc rtolice-is mailed Ip-Borrower.- _-_-
<br />- - -- - ey which such tifruch tndsF be.earrdt-'and'(4f:'thuY faihire to -i~uresuch°brracli-un air before the-date zprcifieil--in-the--npilre- -
<br />may result in acceleration n[ the stints secured by thin.Murtgugc, Grrri9dsure by judicial procerdiitg and Bak of the Pruprrty. - -
<br />., - - -- 'Cho-notice shalF Further inform Borrower of-the righf hr reinstate-aFter xrdileraticnt atilt-ilia right=tu-lissrrt-in=ttic=fnrerluynrc--= -- ---- -~----
<br />- _ proceeding tha-non-existence of a default-ur ally ocher deferrer. of harrower. to acccleeatimi trod fureclo3ure. - If {be breach
<br />is not cured un.ur before the dale: spacifird in the natter, Lcnderut Lender's option may declare all .rf the. sums secured by
<br />- this Mortgage to M immediately-due anti, payable withburfuriher. drmund and nine farrciux---By. judicial_pruccrding. --Lrndcr -
<br />- - shall tea entitled to collect in such proceeding nIl expenses ref fureelosnre, inchtding, fiat not liatitcd to, cost? of ducumridury
<br />-rs9dener: abstracts and titlereports: - - ... ... -. _'... .... .. .. -... _. - _ - ..
<br />14. Borowrr's Right to Reinslale: Notwithstanding I,e,ndcr r:rrut t _ 'the a n, seeurad t,y this ti nt;a>;r..
<br />- - - -- -Roriowcr shallhave-the-+`igh[-rr~ h.,v.,-a'ny-prorrrdrn(rsM-gar;-h;,.trader to=eni.~t~r rtrr=b1-crtg.ty.. rhs.~ntmtad-a an} bins-- - -- -
<br />
|