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<br />84~
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<br />006405
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<br />I~ndl'f\ \Hllldl .Igr~~menl or Jpplil';lblc law. Horrower shall pay the amount of all mortgage insurance premiums in the
<br />manncr pruvidcJ undcr parilllmph 2 hcreof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. shall hecome additional
<br />indebl~dn~'s of Borrower secured by ~his Mongage. Unless Borrower and Lender agree to olher tenns of paymenl. such
<br />amollnts shall he payabl~ upon nOlicc from Lender 10 Borrower requesting payment thereof. and shall bear interest from lhe
<br />IhUe of llisbursement at the ralc payable from time 10 time on outstandinll principal under the Note unless payment of
<br />interest at such .....rc would he contrary to applicable law. in which event such amounts shall bear interest at the hishcst rale
<br />permissible undcr applicable law Nothing contained in this paragraph 7 shall require Lender m incur any ellpenIC or take
<br />any action hereunder.
<br />8. laspecllon. I.ender may make or cause to be made reasonable entri~ lIpon and inspections of the Property. provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor relaled 10 tender's
<br />interesl in the Property.
<br />9. CondemllllCioR. Thc prf'cccds of any award or claim for damages, <Iirect or consequential, in eO!lneclion with any
<br />condemnation or other taking of the Property. or part thereof. or for conveyance in lieu of condemnalion. are hereby assilned
<br />:tnd shall hc paid to Lender.
<br />In lhe event of a 10lal laking of the Property, the proceeds shall be applied to Ihe sums secured by Ihis Mort18F.
<br />with lh" ~Scc". if an\'. raid h' Rorrf'wer. In Ihe event of a J'artial laking of the Property. unless Borrower and Lender
<br />,'Iher""ise agree in wriring, there shall he applied to the sums secured by Ihi~ Mortga,e such proportion of theprocceds
<br />as is equal to Ihal pro",'rtion wh.ch Ihe amollnt of Ihe sum, secured hy Ihis Mortllage immediately prior to the dale of
<br />laklOg hears to Ihe fair market vallie {,f the Properl\' immediately prior to the date of laking. with the balance of the proceeds
<br />paid to Borrny,'Cr.
<br />If rhe ProperlY is ahandom'd hy Borrower. or if. aftcr nOlice by I.cnder to Borrower thaI the condemnor offen to mMe
<br />an award or settle a e1aim for damage~. Borrower fails to respond to tender within 30 days after the date such notice II
<br />mailed. Lender is authorized !n collccl and apJ'ly lhe proceed.. al Lender's oplion. either to restoration or repair of tile
<br />Propertv or 10 Ihe sums ,ecured hv Ihis MOrlgage.
<br />Unle" lender ,!Od Borrower otherwi", agree in writing. any such application of proceeds 10 principal snail not ClItend .
<br />or ","I",me rhe due darc of the monthly installments referred 10 in paragraphs I and 2 hereof or chanF lhe _t of
<br />such inslallments.
<br />10. Borrower Not Rt'IeaIed. Extension of Ihe lim~ h>r pavment or modification of amortization of the sums secured
<br />hv this Mortgage granted hy Lender to any 'ueces"" in interest of Borrower ,hall nOI operate 10 relelW'. in any manner,
<br />Ihe hah.I;" oi rhe nriginal Borrower and Borrower's ".cce"ors in inlerest. Lender shall not be required to c:ommenc:c
<br />proceedings against slleh sllcce"or or refllse 10 extend lime (or payment or olherwise modify amonization of the _
<br />.............."..... ",",. f"':" """'---6- ..... --~~"'... ,~,; ......, ..1_.............1 _....A.... 1-0.., ."-.. .......:...;......1 .11.................4.... """,1..11:"",_ ...rt.. .u.,.,.. ^_ in t...........
<br />I i. 'F~~;-"; i~"'-r Not a W~;;~, Any io;hea:a~ce bv lender in ~xercising any rilhl or remedy hereunder. or
<br />olher....lSc afforded b~ applicahle law, shall nol he a waiver of or preclude lhe exercise of any such ritht or l-.medy.
<br />The procurcment .'f insurance or the J'avmenl nf tases or nlher liens nr charges hy Lender ,hall not be a waiver of Lcndor's
<br />righl ro acceierale Ihe maturily ,,( Ihe II1dehtednc" '>Ccured hy this Mortgage.
<br />12. Remflllet; Cumul"ln. All remedies J'rovldcd 111 this Morlgage are distinct and cumulative to any olher rjpt or
<br />remedv ,,,,dcr thIS Mortgagc or alfnrded hv law nr equil~'. "nd m"y be e,erclS<,d cnncurrently, independently or sllecellively.
<br />13. StKceHOfS IUKI "alan, Bound: Joint and Se.eral UaNlIty: Captions. The covenants and agreemenll benin
<br />cllnlained shall hind. and the rights hl'reunder ,hall inure 10, the respecllve SUCL"CSSOrs and assigns of lender and Borrower,
<br />suhjcct h' Ihe IHO,i"o", of paragraph t7 her.'of. All covenan1s and agrecments of Borrower shall be joint and several.
<br />The capllnns and headlllgs O! thc paragraphs of this Mortj,lagc are fM convenience only and are not to be uted to
<br />inle'1'ret or deline Ine J',o\'l,ions hereof.
<br />14. Nodee. ExceJ'1 for any notice required under applicahle law h' be given in another manner. (a) any notice to
<br />Borrower prnv,ded for in Ihis Morrgage shall he pv~n h\' mailing such nOllce hy certifted mail addressed 10 Borrower at
<br />the Property Address M al such olher "ddress as Borrower m"y deSlgnale hy notice to Lender as provided benin. and
<br />(bl any notICe !O Lender shall he gl""" h, certIfied mail. relurn recell'l reque<led. 10 l.ender's address staled herein or to
<br />such olher addre" as Lender mOl) design ale 11, nnlice h' Dormwer as provided herein. Any nolice provided for in Ibis
<br />MOr" 'Be shall he deemed to have heen g.ven 10 Borrower or lender when g.ven in the manner de$iJDated herein.
<br />l!. UDif_ M~aae; Gonl'1liRll.aw: Setel'lllllllty. This (Mm of mortlllge combines uniform covenanls for natioul
<br />...~ and non.unif<>rm covenants with limited ,'ariatoolll h\' 11I""l'cti"n to constilute I uniform security instrument covcriaa
<br />rea. ""'perl\' This Morrgage shall he Iloverned hy the law ,'f the iurisdiclion in which the Property is located. In the
<br />eVllnt ihal any proviSIon, r c1lu,~ of this Mortgage or Ihe Note COnnkl, ..ith applicable 'aw, such conflict shall not alhct
<br />olher J'f1w"j,)n, of this Mnrtgage nr the N(lle wh.ch can he g.ven rlIeer withoul lhe connictjog provision. and to this
<br />end the provisi"ns of rhe Morrgage and the "inte are declared to he ",verlble,
<br />16. Borrower's Copy. Borrower ,hall be fu",,,hed a eonfMmed copy 01 the Note and of Ihis Mortl. al the time
<br />of execution or after recordation here{lf.
<br />17. TralIIIfu Df tile Property; A~. If all or any part ,'f Ihe Property (If an interest therein is sokI or lraMferrId
<br />by Bormwer without Lender's prior written consen!. eseluding lal the crealion ofa lien or encumbrance subordinate to
<br />thts Morrgage, tll) Ihe aeation of a purchase money "",curil\' Ill!crest for hou!lChoId mliances. (c) a lransfer by devise,
<br />descenl or by operation olla.. upon the death of a 1,1Inl .enan' or (~' lit, IIr -1 ..I DR) " l' ,. i bUrin .f 'hn. ).... af'"
<br />...t Int,iRiAIl OR 'rr'n tl r rr~11T Lender Illay, at !.ender" "plll'n. declare all the SIlll1S secured by this Mona. to be
<br />.mmediatelv due and payable. "'nder shall have waIVed such oJ'llnn to a.::celerate if. prior to the sale or transfer. Lender
<br />anJ Ihe person 10 whom the I'wpeny i. tn be sold or Iransferrt'd reach ag~ment in wriling Ihat the credil of ,uch penon
<br />is satidaetory 10 I.ender and that the inlere" payahle 011 rhe slims .,,,ured I" this Mortgage shall he al such ratc as Lender
<br />shall requcsl If Lender h.. waIVed the "ptinn 10 "cceler..le prov!l1ed In this paragraph 17, and if Borrower's succ'CSSOr in
<br />inlerest h.. e~eculed . wnllen '" :mprion agreement accepled in wrillllJl by !.ender, tender shall release Borrower from all
<br />e>bIillallom under this Mortlllge and lhe Note.
<br />II Lender eserd<c, such oJ'llon to .ccele,,,!e, Lcnder sh.1l mall Ilnrrowet IIntice of aceeler.lilm in accordance witb
<br />paf8l1rapll 14 hereof Such notice ,hall Jll'llVlde a peflod ,,/ n"l Ie.. Ih;\ll .10 day' fr.'m the dale the nOlic" is mailed within
<br />whkh Borrower may ray lhe SUIll' ded,{red dlle If 8om",,'r f..IIs !o pay sllch ,,"m prinr to the e~p;ration of sllch period.
<br />I. ender may, w'lholll further nO!Il'e or demand "n Ilmrower. rnvllkc any remedies !,ermllled hy pllrallraph I R hereof.
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<br />NON.UNIPOftM COVENANT' O,llrrl1Wer amllcllller funhcr (["enant "nd agtee as fl.lll1ws:
<br />18. Aenltnrioa; ReftWflles. lEuept 1M ,rllYided III par1Illr.,h .7 heffof. UfOII Itmowff" '"-II of 8IIY C8ft1IIIIlC or
<br />.......* of aon-... IIIt,* MlIf'l1laae. indlKlilllll the l'on_e. tn plOy ..heft due 8IIY ""_ __1Ift1I by lhis Mertpp,
<br />,....... priw 10 M~ .. IIUUI noll<'~ 10 IInrmw... "" ",,,.ided In PIIflIIlI,. '4 IIeftof SfK!dfYiIII: (1) the .......:
<br />(I)....... ~.. nlq!IGCh brelK'h; Ill. d"e, nol W. thH JO cia)' from lhe lI8Ce lhe notk.. Is mIIik-d Ie Bormwer.
<br />." ..... .... IIftadr IIltlII8C he c....".d: _d '''I that fail...... to {'ur" .....11 bre...h on or beto", llIe date 8fl"1IIflI In Itte neeke
<br />me, ...... ... *,,,ooalkMl of the ..._ .......rH hy t"ilI \fonalllle. foreek_... by Judicial pmcHOflIll! and ..... of the Pmpetty.
<br />'hie notke ... hmtM-r 1..,_ Borl~l..er of lite rlahl 10 ....lMt8Ce al1e, ,"'cekf1ldott .nd the richl ID _rt In lhe f_........
<br />\IIf8C...... Itte _..Ilifenu of . ddautt or any n'her ohfenS(' Ilf hrrower 10 Rcl...km.tltln and for..d{lli1H\", If llIe hrHch
<br />M _ ctm!4 OIl ~ ....(1lt'II the daM $JlerHled ... the notln. I rntl... .t !'entler'. option may ....d.... ail nf lhe ,u_ lI8CtIrH hy
<br />... M......... I. he i-.M...... d..., ..... I'll.'."'" ..!lh....t furlher Mm..... lllId mal fnrfi'''_ 1>. Ittdichll pmc......... !'elMler
<br />.. he .1l11c..... to .....1 in ........ pwn"dilllt lilt "IM''''''- ... f..'...-In........ h",lu~. bill ....t IImll..d In. ...... or doeU_rKlU'y
<br />f',khiK't'. ~f*'h li1Iftft f.i'k- ,..,orf:\.
<br />". hrfn1lt'...,,', Milht In Ih'4mc.tf', '>.,In'\.\Uh'\l,Hldnl~~ ',"win '''I ,HJ l'i!'t .tlll.'ll "r !Ill' ',\1111"> ...,'~ Ilinl h\ lhh Mtltf~ant'
<br />K~!qH\\'Ff '.haP hitH' ~h(. "lthl ~l; h;HI,' ,HI\' pf'li.n:.dl"~" 1'F{'~Ufl h\ I f'nder Ip nlltll'J lht'> \111ItM.t)\:" t!1\1,,'l1tllllll'd .11 IU1\ tl1tlt'
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<br />NIFA 11/114
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<br />>~t'~ 1 ~ (>'."
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<br />\9H4h
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