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<br />83- 001450
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<br />Lender's written agreement Or applicable law, Borrower shall pay the amount of an 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 Bo,rower secured by this Mortgage, Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lende, to Borrower requesting payment the,eof. 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 />pel'missible under applicable law, Nothing contained in this paragraph 7 shall require Lender to incur any expense Or take
<br />anyaclion hereunder,
<br />8; Inspection. Lender may make Or cause to be 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 reiated to Lender's
<br />interest in the Property,
<br />9. CondemlUltion. 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 Prope'IY, the proceeds shall be applied to the sums secured by Ihis Mortgage,
<br />with the excess. jf any. paid to Borrower, In the event (...f a partial taking of the Property. unless Borrower and Lender
<br />otherwise agree in writing, Ihere shall be applied to the slims secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured hy this \-fortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, \\'ith 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 or 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 Lender's option. either to restoration or repair of the
<br />Propeny or to the sums secured bv this Mortgage.
<br />Unless lender and Borrower otherwis.e 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 change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the rime for payment f\r modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in intcrco;;t (\f Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower'.;; SlIccess.ors in interest. Lender ,hall not be required to commence
<br />proceedings against such successor or refuse to e"\':tcnd time for payment (Ir 0thcf"\\'isc 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~ Fo~e by Lender Not a W.ivt"r. Any forhearance hy Lender in c-.;ercising any right or remedy hereunder. or
<br />otherwise afforded by applicable law. shall not he a waiver pf or preclude the C''1;eTcise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or (\ther liens or charges hy Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedne~s s~cured t1y thi.. Mortga~,
<br />12. Remedies Cumulatiy~. An remedies pnwidcd in this Mort~agc arc distinct and cumulative to any other right or
<br />remedy under this ~fortgagc or afforded hy law <\r ('quiIY, ,1Od may ~ C''\crCI''CU concurrently. independently or successively.
<br />13. Soc:cessors and Assigm Bound: Joint and ~H'ral l,iabilit)'; Captions. The ('ovenanls and agreements herein
<br />contained shall hind, and the rights hereunder ~hall inure tn. the respccll\'C' ~lICCCS.S(\rs .and assigns (If Lender and Borrower,
<br />s.ubject to the provisions of paragraph 17 hereof. All ..~o\"t'mmls and agreement, ('If Borrower shall he !I.Jint and s.everal.
<br />The captions and headings of the paragraph>.: \\f this ~1ortg~lge ;lrc fnf convenience lHlly and aTe not to he llsed to
<br />inlerpret or define the provisions hereof.
<br />t4~ Notice~ Except for any notice required under applicable Ia\\ t;..' he given in anNher manner, (a) any notice to
<br />Borrower provided for in (his Mortga!!e ~ha1i he given hy 1l1ailin~ <;,uch n...'1tice ~y certified mail addressed to Borrower at
<br />the. Property Address or at such other address as Borrower ma~' deStgnalc hy notice to Lender as provided herein. and
<br />(b) any notice to Lender shaH be given hy certified mjil. n:tum rect,,'lpt requested. to Lender's address stated herein or to
<br />such other address as Lender may designate tw notice 1\.1 Borrower as pnwide,i herem. Any notice prtwided for in this
<br />Mortgagt' shaH be deeme-d to ha\'c been gi\-'en h) Borro\\.cr {1r l.cnder when given in the manner designated herein.
<br />lS~ Unifonn 1\fo.qage; Govemilll Law; Se,'erabDity. Th;.. form of mortgage ~omhines unif{lrm covenants for national
<br />use and non-uniform covenanlS \.\.ith limited ,'ariations hv juri.;;dlctioo to constitute a uniform security instrument covering
<br />real property. This ~fortgage shaH be governed hy the' bw ,.1 the iuri~Jiction in which the Propeny j" 100~atcd. In the
<br />event that any provision ('IT clause of this MoIt~age t..\r the ~OIe (OntliCf'i. n'itn apphcahle law. slIch conflict ~hali not affect
<br />other provlsions of this Mortgage or (he N(\tc whi\.'h ~an lx': glv~n dlt."l.:'t withollt the conflicting provi!:don. and to this
<br />end the provisions of the Mortgage .and the -""':Ne arc dcdan:d t;.\ he severable.
<br />I'~ Borrower1s Copy. Borrower '-hall be ftJTfll~heJ. ~l I...i..'nh\rmed i.:opy of the N(\tc and of thi~ Mortgage at the time
<br />of e~et'ution or after recordation hereof.
<br />17, Transfer of tbe Property; Assumption. If a!ll\r any part l\!" the Pn1pcrty or:tn interest therein is sold or transferred.
<br />by Born)wer without Lender's prior \,'rittt:n (:l,)n')~m, t:'\dudin~ (.\~ the.' ~n.'ation nf it lien ,)f encumbrance suhordinate to
<br />this Mortgage, {hl the creation of a purcha:\c m('ncy \,c..:-utity intereSI (('r hl.'usch()ld applianL'es, (c) a transfer hv devise.
<br />descent or hy ('peration of Jaw upon the death {)f .:t i,1im tenam \)r hi ~ ,hI." gram of any leasehold int~rest of three ye.trs or less
<br />not containing an optitm to purchase, 1.ender lllay. at Lender\ l\rtil\n. dc-dare all the sums. secured hy this Mortgage to he
<br />immediately due and payable. I.ender shaH have \\ai\"cd S.lh..'h option Ii' iH:cdcralc if. prior to the \.t1c or transfer. Lender
<br />and the person to whom the ProperlY is, to be wit:! or trJ.ns.r'~rred reach agreement in writing that the credit of such person
<br />is sati~actory to I.coder and that the interest rayable on the sums. ~cured hy this !\,.fortgage s.hall be at such rate as I.ender
<br />shall request. If I_ender has waived the ('ption t(\ ~H:celcrate pnwid('d in this paragraph 17, and if Borrower's successor in
<br />interest has C-.'<.ecuted a written assumption agreement ac:~cpted in writing hy '-ender. I.ender shall release Borrower from all
<br />oblipliom under Ihi. Mortgage and the Note,
<br />1f Lender exercises such option 10 a~cele:rate, l.enlkr ,h;tll mail Borrower notice of acceleratlon in acc(\rdancc with
<br />paragraph 14 here-of. Such nOlice shaH provide .1 per<<"'u 01 rH't less than 30 days from the dale- the 11\\ticc i" mailed wilhin
<br />which Borrower may pay the sums declareu due. If Born.ywer f.tils It) pay s.w.:h sums prior to the expirution ~)f slIch period.
<br />Lender may, without further notice or demand on Borww-c-f_ l!}voke any remedies pernutted hy paragraph 1 S hereof.
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<br />NON-U~IPORM COVENAN'rS. Borrower and lender fun her coven.ull and agree as f(~lIows;
<br />II. A~ Remedies. Except lIS provided in _raph 17 he"",f, upon Borrower's breach of any cnvenanl nr
<br />..-- of Bono...... in Ihis Mortpae. includinc Ihe cn'.e....nlS to pay "hen due any .n.... secured by Ihis Mortgaae,
<br />.......... prior 10 ~ sluolIlbllII .....ice 10 Borrower as pro'id.d in PllrBltraph 14 hereof specifyina: (II Ih. breach:
<br />(l)...acdoe ~ 10 eun: suda. bceadu (3) a dale, noll_ Ihan 30 day.,. fron. lhe d.... Ihe notire is mailed 10 Borrower,
<br />tlywl1lc:lasuda '"-h.... be cun:4: ..... (4) lhat failure 10 cme .ud. brea<h on or before lbe dale specified in Ihe nnlke
<br />....,..-It iIllK'Cdolalioll of 1M..... SlOCIIred by Ih.. MOI'tlI.e, fored_re by Jndklal proceedilllC and""'" of lhe Pro......y,
<br />TIle......... ....... ilIf_ Borrower of llIe riIlbllO rem.lale afler accelenllOll and lhe ria'" to a,..,,,' In th~ foreclo&'Ure
<br />........... _tdItIlIlee of a default II< allY olher <l<>f_ uf Borrower 10 lK'<el.ralloD and forec....ure, If.he breach
<br />, II... ftIfIMloa ....Wo"' ..... date lifIedllod in lhe .....Ice. tend... al '""neIer's oplioo ,..ay de....are aU nf tbe ....... secured by
<br />1IIIt ~ to be ~ ..... ..... pa)'....... witJI....1 further de_nd ..... ma.v fo",close by jndklal p.....-cIJl1!l' t~nder
<br />...... C!IIIllIIW 10 ~ la ..... ......... all ....._ of f_re. lnd....... bu1 DIll litnllod I... ._ of documentary
<br />.........-..- ......... ........
<br />It. -.-.. ..... to........... Notwlth"..ndfllll lender's anelera\l''O of the '"m. ,ecured by thi, Mortgage.
<br />8orrowet ~ have the rith-t hl M'f-e. any f't\xeeding:s ~un h)-' 1 endtr t", cnfofc(: tht~ Mt'rlgill.~ di~\.'('mtjnued itl :any ttfUC
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