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HomeMy WebLinkAbout0039 - ____v..____ ~ + Lender's written agreement or applicable law. Ba*ower snap pay the amount of all mortgage iasunnoe premitmss is the manner provided under psragaapb 2 heu+eof. flay amounts disburtatd by Lender pursetant to chit paragraph 7, with interest thereon. snap become adtlitioral indebtedness o[ Borrower tKCUt+cd by this Mortgage, Unless Borrower and [.ender agt+ee b other teams of payment, such amounts glop be payable upa?~reatice from Lender to gorrower;roqutstiot.pajment thereof. and shall bear interest frog the date of disbursement at the rate payable from timme to time oie outstand6tg principal under the Note unkas paytseat d interest at wch rate would be contrary to applicable law. in which grant such amount::Itali bear intea+est at the highest fiefs - penaadbk wider applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expetmte oa tabs • any sction hereunder. R 6tttpeeae.. Lender may make or cause to be made rwanabk entries upon and inspections of the Property. provided that Lander shag give Borrower notice prior to any such inspection specifying reasonable cause therefor related b Lertda~'a interest in the Property, Ca.ieswaow. The proceeds of any award or claim for damages, direct a oorasequeatisl. in eonetectioa with tttty eopdartnation oa ether Ea-king of the Properry?, oa pout thereof, or for conveyance in lieu of condemnation. are iietaby asdgrred - ~ - and shelf be paid to Lander. in the avant of a total taking of the Property, the proceeds shall be applied to the sum: secured by this Mortgage. - with'the excess, if gay, paid to Aorrower. in the event of a partial taking of the Property, unless Borrower and i~eeder otherwise agree in writing, there shall be applied to the wms secured by this Mortgage such proportion of the prooeedt a: is egetal b that proportion which the amount of the sums secured by this Mortgage immediately prior to the dale d taking bears to the fair market value of the Property immediately prior to the data of taking, with the balance d the q~oceedt paid to Borrower. _ - _ _ --if~P~operry is abandoned by Borrower,-or if. after notice by Lender b Borrower-that the ooredeasnoc offers to tmta an award or yottk :claim for damages, Burrower fain to respond to Lender within 30 dsys after the date such notice it mailed, I.endCr is authorised to socket and apply the proceeds. at Lender's option. either to restoration a tepsir d t>ss Property or to the wms secured by this Mortgage. - - Unteu Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shag not extetsd w postpones the due data of the monthly installments referred to in paragraphs i and 2 hereof or change the: amount d such installments. - lt1. rors+twer Not Rekaeei. Extension of the time for payment or modilkation of amortization d the swan searrod by this l+Tortgage wanted by Lender to any successor in interest of Borrower shag not operate to reksse. in gay maretter. the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required b comrrtertoe Proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's weoessors in interest. _li.- Fetiearaetee.ly_ 11._etsier Not a Wdveer. AnY fatt+earancc by Lender in exercising any right or remedy her+ermder. of otherwise aRorded by applicable law, shall not -be a waiver o-f~oi: ~proclude the-extrcis~ ~of-any-mdr-rrsht or-t+attedY. - The procurerrMent of iawrsaoe or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lettdet'>f right to stxeknte the maturity of the indebtedness secured bryr this Mortgage. 12. Rertiies Cnrsehare. AN remodies provided in this Mortgage are distinct and cwnulative b any other right of remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently. independently or setooessively. iS. 9tsceettors sM Astiges Bosre~ .foist srsi Sereral i3aYr~r; CaglMrr. The covenants and agreeomaets heroin oontainsd chap bind, and the rights hereunder shall inurg to, the.respectivc wooassors gad assigat of Leader sod Borower. wbject to the provisions of paragraph l7 hereof. All covenants snd agreerreerets of Borrore_r shag be join! and s'eireral. The captions' and headings of the paragraphs of this Mortgage are for convenience only and aro rat to lk used to interpret or define the provisions hereof. 14. Notiet. Except for any notice required under applicable 4w to be given in another manner. (a) any ~iotiot: to - Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or st such dher address as Borrower may designate by notice to Tender ss provided herein. and (b) any notice to Lender snap he given by certified mail, return receipt requested. to I.endePs sddross. stated heroin or to such other sddress as Lender may designate by notice to Borrower a: provided herein. Any uotiex provided for in this Mortgage shall be decrteed to have been given to Borrower or Lender when given in the manner desipeated herein. 1S. Usttors MoMgppe: Gorersiyt Laws Sererrebrity. This form of mortgage caabinet uniform oovaearets for natasal use: and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security itatrurrteat covering eed property. The Mortgage shall be governed by the law of the jurisdiction in which the Property b located. in the event that any provision or clause of this Mortgage or the Note conflicts with applicable law. such conflict shag not affect other provisions d this Mortgage or the Note which can be given effect without the: conflicting provision. and to this end the provisions of the Mortgage and the Note are declared to be ssverabk. _ ifs. Ifesrswes's Cow. Borrower shall 6e furnished a conformed rnpy of the Note and d this Mortgage at the time - of acecution or after mordation hereof. 1?..:~~...:., d ~ ~ ~--•~tl~, if act or any o~rt of the Property or an interest ther~dn is sold or transkn~ed by Borrower without l:.ender's prior written consent, exctudireg la) the creation of a lien or encumbrance su0~ordinare to this Mortgage. (b) the: creation of a purchase money security interest for household appliances. (c) a transfer 17 device, dtaoeaet or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less rat containing an option to purchase. Lender may. at Lender's option. declare all the autos secured by .the Mortgage to be immediately due and payable. Lender shall have waived such option to aocekrate if. prior to the sale or transfer. ietader and the person to whom the Property K to be cold or transferred eeach agreemaet in writing that the credit of such person is satisfactory to Lender and that the inten~ct payable on the sums secured by this Mortgage shall be at such rate as Lender chap request. Tf Lender has waived the option to acaekrate provided in this paragraph 17, and if Borrower's successor in interest has eacecuted :written asstureption agreereeent accepted in writing by Lander. Lender shag release Borrower from all oblyations under this Mortgage and the Note. If Render exercises such option to aceekrate. Lender shall mail Borrower ratios o[ acceleration in acoordsrecc b•ith paragraph 14 hereof. Such ratios shall provide a period of not less than 30 days from the date the notice a mu'led within which Borrower may pay the scans declared due. if Borrower faits to pay such sums prior b the expiration of such period. Lander may. without further notice or demsnd on Borrower. invoke any reneedies permitted by paragraph 18 hermt. Notr-Uxtpoaat Covt:t+~?wrs. Bono~wer and I~nder further covenant and agree as foilow~s: lfl. 'Acedesttda.t Reeawiiea. Euept se prsviiei i Nntgrapi 17 Hereof. ~ ressrwers Meaeh d •7 ervrtwt K agtroettse.t of Itenrwer V lift Mamie. t.el.eliag the eeressMs to pay wHes foe atq t.rrtn ttesr~ti ti gets 1Mestasge. iwstier rd.r N sereleraaaa sfsei tall tewlke to >lessewer ss Mrn'Mb i. peragnpH 14 Heareof t~elyi.gs (1) ass isesefa (2) the .eti.. s~tegdreti M etese wen it~aeiei (3) a elate, nisi leas gears 3t ~ tenors flex dale IHe ratites r strain M Dtrrrw~er. iy wtsielt•saaer Me.ele eeatast tit ceteii seat (4) dent failerre a cent wA tke.eH a ee' iefese flat eLts tpteiMtt its the entice ~y resaN is aoedetratlaa ef[ the stts.s aeetrse~ b elYt Mertgsrjs. feseetottrrc y ~edkW psresetliag asst stile et Itte M*erty. '[1st tnadoe sW D'asaaer irfir. /etse~wer of tlee trlglet Ica ret.tlMe after aeeeieraaore saatl Ate trlglN a a.a/ M fire teseelawse Nrawei.g Aee.o..esitltrree.f . elefaslt w gnat etleea iefeste of rorr~wer w aKderaWw ssai tensetoeasa r Act Hresei fis.« easN.. err HdKe are d.It.ptelAti t• flee etwaoe, tterreer st ie.ier's oMi:.,..y eleelsse ai of Are ttsett tte.rad b Acts Maslgage tit 4 t¦naesralety ire atM ~aMe wMrrost MHar ekewana asd ettyr taseeltts Air Mere b ~ M~It• iertder far M ettMNkt1 N ayrtet_ ls..w~ ptrlteeiitr6 ar e~ertses of farrclMer~t.~Mtelse>fs`. Inrt Mt Y¦tMti N. seatt.aMe slturneyti fees. ant eaaeett of iecet~afasy eriiesete, atidrsets asett sae sepesM. i!. Mttarwas's RAM M Relethta Notwethstarding Lender's sooskration of the sums secured by the Mortgage, Borrower shag have the right to hsve any proceedings begun by Lender to entoroe this Mortgage discontinued u gay time aaaK3~.s PAGE _