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<br />83-001490
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<br />Lender's written agreement or applicable law, Bor,ower 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 cvent such amounts shall bear interest at the highest rate
<br />permissible under applicable law, Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder,
<br />8. Inspedlon. 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 slIch inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property,
<br />9. CORdemnatktn. The proceeds of any award or claim for damages, direct or consequential. in connection with any
<br />condemnation or other taking of the Propert-y. or part thereof. or fOf 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. jf any, paid to Borrower. In the event of a partial taking of the Property. unles~ Borrower and Lender
<br />otherwise agree in writing, there shan be applied to the sums secured by tbis Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the SlIm~ secured hy this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior to tbc date of taking, with the balance of the proceeds
<br />paid to Borrowe"
<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 i. authorized to collect and apply the proceed.. at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured hy this Mortgage.
<br />Unless Lender and Borrower otherwio;e agree in writing. an~' stich application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in p,nag-raphs 1 and 2 hereof or change the amount of
<br />such installments,
<br />10. Borrower Not Rrlnsed. Extension (If the time for pa\'mcnt or ffiC'dific3tion of amortization of the slims secured
<br />by this Mortgage granted by Lender to any successor in interest ('If Borrower ~haH nt'\[ operate to release. in any manner.
<br />the liability of the original Borrower and Borrower'" successors in interest. Lender "hall not he required to commence
<br />proceedings against such successor or rduse to. extend time for payment or otherwise mooify amortization of the sums
<br />secured by this Mortgage by reason pf ..lny demand made bv the 'Jri~jnal Borr{lwer and Borrower's slIccessors in interest.
<br />t 1. Forbearanc@ by l...enOO Not a WaiVf.'F. Any forhcarance h\' Lender in exercising any right or remedy hereunder. or
<br />~)therwlse atf{lrded by applicable law. shall not ~ a waiver {)f ()f preclude the C'xercise of any ~uch right or remedy.
<br />The procurement of insurance or the payment of taxes ('IT nthcr hens tlr charges by Lender ..:;hall not he a waiver of Lender's
<br />right to accelerate the maturity (1-f the indcbtedncc,;s "cctlrcd hy thi" \fo"ga~c.
<br />12. Remedies Cumulative. All remedies provided In thi~ Mortgage 3rt.' distinct ~nJ l.:unllllativc to any other right or
<br />remedy under this Mortgage or alTorded hv lav..' (If equity. ;Inti may he t.':\erCI~cJ ..","currently. independentlv ('If successively.
<br />13. SlK:cessors and AssiRns Bound: Joint and S,e\'t"ral I.iability; Captions. me covenants ~nd agreements herein
<br />contained shall hind, and the rights hereunder shall inure to. the respective stlccc'\:,ors and assigns of l.ender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. All I.'ovcnams afHi agreemcnh "f Borrower shall he ,if'int :md several.
<br />The captions and headings llf the paragraph... ,If this Mortgage i\fC fl)f ..:on\'enit.'nl.~c only and .ire not t('\ nc lIsed to
<br />interpret or define the provisions hereoL
<br />14. Notice. Except for any notice required under applkablc l;lW t(l be givcn in anNhcr manner. (a) any notice to
<br />Borrower proVided for in this Mortgage shall he giv\;n by maIling 'Ouch nOllce {'l~ ..'crtified mail addressed to BorroweT at
<br />the Property Address or at such other address as- Borrower may desig.nate hy notice to Lender ;15 provided herein. and
<br />(b) any notice to Lender shaH be given by -ccrtifietf maiL return receIpt requested, 10 I.ender's address stated herein or to
<br />such other address as Lender may designate by notice [(l Bornw.'er ;'IS provided hcn:m. Any notice provided for in this
<br />Mortgag.e shall be deemed to have been given to Borrower (,If lender '\\-hcn given in the manner designated herein.
<br />15. Uniform Mortc:age-; Governing Law; Se\ierabt1it~.. -Il1i, form ,'r mortgage combines uniform covenants for national
<br />use and non.uniform covenants with limited variations ~y JUTl"tliction h' constitute ;1 uniform security instrument covering
<br />real property. This Mortgage shall he govl'rned hy the law d. the iuri~tJi\:ti{)n in which the Property is located, In the
<br />event that any -provision or damje of this Mortgage ('tf the Note ('onftict-; with itppiicabie iaw. 'SlIch conflict shall not affect
<br />-otht"f pro....isions of this Mortgage or the ~OIC which (:3n he ~Iv~n effect u->ith()ut the I.:onllictin!! prrwi"ion. and t() this
<br />end the provisions of the 1o.tortgage and the' Note are Jcrlared to he ~\'erable,
<br />16. Bonowcr"s Copy. Bormwer ~hall }-Ie furlH~hel.! a i..'tlnf..-'mleO \.'opy or the ~o(e and of this Mortgage a! the time
<br />of e1le\."utlon {1f after recordation hertx"lf.
<br />17. Transfer of the Property, AssumpUon. If all (lr :-my r~lfl of the Pn)pcrty \If an mterest therein is sold or transferred
<br />by Borrower without lender's prior wriltl:n l..:ons(nt. i,.'xduding ~.~i the t:n:ation of ;1 lit"n ur encumbrance subordinate to
<br />this Mortgage.. (b) the creation of a pun:has,c nwnc\' ;-'l'..'urity IOtCH"st ft"'r h(lllSehold appliances.. (cl a transfer hy devise.
<br />descent or by operation of la\o\, upon the death l)f ;,1 !lHnt t~n;.ull I.\r hh the ~ran1 (..f an)' It.'asehold inlerest I.)f three years or less
<br />nol containing an option 10 purchase, Lender may. ;.H Lender'.., l.)fHWO. Jcch~r-c ,ll1 the s.um~ secured hy this ~'1ortgagc to be
<br />immediately due and payable. Lender shall have "~l\-~d 'u"..h option t,\ a~cder-atc if. priur tl' the sale or transfer. Lender
<br />and the person to whom the Property is ll't he sold Of transf.:rrcd ~a'Ch ;\g.n...~mclll III wflling that Ihe credit of such person
<br />is satisfactory to Lender and that the interes.{ payable on the sum.... ~"'1.'lIred bv this Mortgage shaH be at such rale as l.ender
<br />sball request If Lender has waived the ,,')ption (0 accderate provided in this paragraph 17, and if Borrower's successor in
<br />Interest has executed a written assumption agreement acct:pled in ....riting hy I.ender, t"nder ...hall release Borrower from aU
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such ('ption to a,,"'t."eferatc. I cndc('f sh~,11 mail Borrower notice of aCl.:cleration in accordance with
<br />paragraph 14 hereof. Such notice shall pH.-")vide a perioJ ~)f nCl-t 1\'S..-;. than .~O daYs from the date the notice is mailed within
<br />which Borrower may p.ay the 'Sum~ declared oue, If Borrower bib, It' pay such '"urns. prior to the e:\piration ~)f ...uch period,
<br />Lender may, without further notice Of demand on Horn'",cr, In\'t'l-.c .any rcmt-djes ~rmitted hy paragraph I S hereof.
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<br />NON-UNifORM COVENANTS. Borrower and Lender further cn\enanl and agree as iollow-s:
<br />lL A~; Remedies. Ex~ as provide<l in ........ 17 h.rwf. upou Borro.....'s b...acb of any cnv.nant or
<br />......-. of Bono_ 1ft litis Mortpce, illdudiftl: the co'.nants t.. pa~" ..hen due any sums secured by tbis Mortpge,
<br />~ prW to..~......... PDlict to Bo>rrow... as pnnided in P""'llrapb 14 h.....f specifying: (11 the bre..,h:
<br />(1) tile Mtlea ""ltinol to c_ such broch; (31 a dale. ....t Ins tban 30 davs from the date lhe notice is mailed to Borro...r,
<br />b'....... Mdl. "-Ii ...... lie cure4; ...... l41 tbat failun to cu... sucb "':""'h un or hefore tbe date specilied in Ihe noll<<
<br />taIiQ'. n:tItIM. ill acaImtlioa of the sa_ _....... by this Morta..... fo..."'osure by judicial proceedi... and SIlIe of the Property.
<br />11Ie.................1"'-........... of tile...... 10 reiMlal. afler a<<elenotion and lhe riabt 10 _ In tb. fonelnsure
<br />....ulll...,..._~ of. cIdaoiIII or ...y otlter def_ of Bono..er to acceleration and f..ne.......... If the breach
<br />,is II!lItnRM otI or lid.... tile daI" splIldfIed 1ft the noll<<, l,.nder al l..ndi:r's optlftn ma~' declare all uf the SO""" "".'u...d by
<br />_ MoItpp to .. 1_~"""'ly dae ..... ,.yabIe wm-t ,....her demand and Iftay fone"- by judicial proceoedlng. Lender
<br />............ lO.:o8ftt ill ..lit ............. all e~~ of forec........., i...ludiaa. ..... not limited to, cOOlS of docun...ntan
<br />~.......... -....... '
<br />t~ ........... ....._-ta......... Notwtth$t~ndif\il Lcmk,"s i.'icce-ieu.two of the "ums secun--d tt). this Mort~al:te,.
<br />Bot-fIllW'ef.aU hlvc tbe'f1Jb1 tu have AnY pr01:eoointt.i! t:e,un h~. fender tu cnh'l-fce thi\ ~"!rtgage "Ii~cuntlmted al any tane
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