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85--. 000170
<br />Lender *% wrincrt agreement or applicable law. Borrower shall gage premiums t PP pay the amount of all wort hlsurarce in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shah become adationod
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to-other terms of ptyaaetrt, at"
<br />amounts shall he payable upon notice from Lender to Borrower requesting payment thereof. and shag bear fropt a
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Nobs unless pa0mill" if
<br />intereu at such rate would be contrary to applicable law, in which event such amours shall bow interest at do h t tttilltt .
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to inter any expom oe rtloa h
<br />arty action hereunder. a
<br />g. tender may make or cause to be made reasonable entries upon and Inspections of Bea Proper
<br />that Lender shall give Borrower notice prior to any such inspection specifying mow nablc cause therefor rdaled to tandi6 �
<br />interest in the Property. .�
<br />9. Candertmadon. The proceeds of any award or claim for damages, direct or consequential, in connection with my z
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. an hereby awned ro
<br />and shalt be paid to Lender.
<br />In the event of a total taking of the Property. the proceeds shall be applied to the sums secured .by this
<br />Mortgage-
<br />with the excess. if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Leader
<br />r-otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the •prods
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage Immediately prior to d a daft Of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the praoesds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offiea to glider
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the dam Such notice is
<br />mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoratian or nor Of tba
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, 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 2 hereof or charge the amount of
<br />such installments
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to cormnerrce
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<br />proceedings agadnst — sucn successor or refuse to extend time for payment or -otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in inlet
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be 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 or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may he exercised concurrently, independently or successively.
<br />11 Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall he given by certified mail, return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein_ Any notice provided for in this
<br />Mortgage shall be deemed to ha,•e been given to Borrower or Lender when given in the manner designated herein.
<br />IS. Uniform Mortgage; Governing Law; SeverabNBy. This form of mortgage combines uniform covenants for national
<br />use and nonuniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Treader of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or
<br />Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shell request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. if Borrower fails to pay such sums prior to the expiration of such period,
<br />Lender y, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />NON-UNIPORN COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />it At Ressedles. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />of Borrower In this Mortgage. Including the covenants to pay when due any sums secured by this Mortgage,
<br />Lovider prior to >K notice to Borrower as provided In paragraph 14 hereof specifying) (1) the breach;
<br />(2) the otftn required is ewe Such h; (3) a dale, not ken than 30 days from the dale the notice Is mailed to Borrower,
<br />breach by which Seek most bee (4) that failure to cos such breach on or before the date specified In the notice
<br />its acceleration of the sums secured by this Mortgage, foreclosure by Judicial proceeding and salt of the Property.
<br />father Inform Borrower of the right to reinstate after acceleration and the right to mart in the foreclosure i
<br />proceeding the noo-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />Is ail cured on or before ;fie dale specified In the notke, bender at Lender's option may declare all of the guna secured by
<br />this Mortgage to be Immediately dae and payable without farther demand and may foreclose by Judicial proceeding. Lawler
<br />Audi be to collect Its such proceeding all expenses of foreclosure, Including, but not limited to, costs of documentary
<br />evidence. alluttiacts and title reports.
<br />19, rows R to Relostaie, Notwithstanding Lender's accelerarion of the vums secured by this Mortgage.
<br />florrower shall have the right to have any proceedings begun by Lender to enforce rhts Mortgage thwonurtued at any time.
<br />NIFA 8/04 �.
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