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85-001688
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Tender to incur any expense or take
<br />any action hereunder.
<br />11. Inspection, Lender may make or cause to he made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lenders
<br />interest in the Property.
<br />9- Coademnatfon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall 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 Mortgage.
<br />with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured 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 date of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award o- settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds. at Tender's option, either to restoration or repair of the
<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 I and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for pavment 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 %hall riot he required to commence
<br />proceedings against such 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 interest.
<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 he 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 />13. Successors and Assns 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 he used to
<br />interpret or define the provisions hereof.
<br />14• Notice. Except for any notice required under applicable law tra he given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be 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. reutrn receipt requested. to Lender's address stated herein or to
<br />such other address as I.ender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />19. Uniform Mortgage; Governing Law; Severabllity, This form of mortgage combines uniform covenants for national
<br />use and nonuniform covenants with limited variations by jurisdiction its constitute a uniform security instrument covering
<br />real property. This Mortgage shall he 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 he given effect without the conflicting prevision. 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 funu%hed a conformed copy of the Note and of this Mortgage at the time
<br />,if e!teculion or after recordation hereof.
<br />VI. Transfer rf the Praperlya rCssunrption. it iii nr -any pert of tine rroperiv or an interest therein is solo or Iransterret
<br />by Borrower without Lender's prior written consent, excluding fat the creation of a hen air encumbrance %uhordinate to
<br />this Mortgage, th) the creation of a purchase money wcurin interest ter household :appliance%, tc) a, transfer by devise.
<br />descent or by operation of law upon the death of a loot tenant or Idt the grant of any leasehold interest of three year% or less
<br />not containing an option to purchase. Lender stay, at Lender', opuon. declare ill the ,aim, %e,uied h% ibis Mortgage to he
<br />immediately due and payable. Lender ,hall have %4imed ,itch opuon n, accelerate it. prior n, the ,ale or transfer. Lender
<br />and the person to whom the Property is to be sold or trtnsterred reach agreement in %%rUrng that the credit of such per,
<br />still
<br />is satisfactory to Lender and that the interest payable on the %um, secured hl this aJorigage %hall he at such rate as Lender
<br />shall request. If Lender has waived the option to accelerate provided in this, paragraph 17 and if Borrower's successor to
<br />interest has executed a written assumption agreement accepted in writing by I ender. 1 ender shall release Borrower from all
<br />obligations 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 3O day% from the date the notice i, trailed within
<br />which Borrower may pay the sums declared due. If Borrower f.,d, !n pav %ooh s,nn% Prior to the expiration of %itch period.
<br />Lender may without further notice or demand nn Borrower. i n „kc .nip remedre% Permitted by paragraph I't hereit.
<br />NON- UNIPOIRM COVWNANt5 Borrower and I ender further covenant trial at:rer a% follows-
<br />18. Acceleration; Remedies. FsceDl as provided In paragraph 17 hereof, upon Borrower's breach of am covenant or
<br />agreement of Borrower in light Mortgage, including the co `tenants to pay %`then due any sums secured by this Mortgage.
<br />Lender prior In acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the hrcath:
<br />(2) the action required to cure such breach: (.1) a date, not less Haan ,111 dav% fruen the date the notice is malted to Borrower,
<br />by which such breach must he cured; and (4) that failure to cure %itch broach on or before the daft %pexiteeal in the notice
<br />ratty result In acceleration ui the sous% %Pcured by this 'Ofortgage, foreclosure by Judicial pnrreding and sale of the Propert%. a
<br />'the notice !shalt further inform Burrower of the right III reol%lale after arerkralion and the right ter a%srrt in the foreclosure
<br />proceeding the m➢n- existence of a default or any other defrnw of Borrower to acceleration and foreclosure. If the hreaCh
<br />III mk rated on or before the dale %Iwcfhed In the nutive. I ender of Lender's option nrav declare all of the sums secured bx
<br />thin Mottgagc to be immediately due and payafde without further demand and may foreclaw by Judicial prreeding. I under
<br />%hM be enlNkd No coUcti in starch p roceedl na a vn f /rrluarr, iutedllg, hue out limited In, §
<br />coils of dexraotrretaex u°9t
<br />evidence, awrach and Iftk rep!1111.
<br />19, swravvees Right to Relftslate. ^intwith%band ag I cndert :,,,eleratnm .•I the snot% ,ecurcd by this Moilt!.'r”
<br />Borroweir %ha;I have ills right h, have nny p1muct ing, begun k I ceder I., col „r, r th.. 1l nrtgnyc ,h,,,vrhmu•d A an% tnn,
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