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<br />83-804242
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<br />Lender's written agreement or applicable law. Borrower shall pay the amount of ali 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 />amounls shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />date' of disbursement at tberate payable from time to time on Ol1!standing principal under the Note unless payment of
<br />interest at suchmte would becontcary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permlIsibleunder applicable law, Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any actlott hereunder.
<br />8. IlIIlJIe<'lion. 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 calise therefor related to Lender's
<br />interest in the Property.
<br />9, C~mDalIoIi. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condtmnation 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 or settle a claim for damages. Borrower fails 10 respond to 1.ender within JO days after the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds. at Lender', 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. Borrowu Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mongage granted by Lender to any successor in in:eresl of Borrower shall not operate to release. in any manner,
<br />the liability of the original Borrower and Borrower"; SUCL:essor<:, in interest. Lender ~han not he required to commence
<br />proceedings against such successor Of refuse to extend time for payment or otherwise modify amortization of the sums
<br />~ured by this Mortgage by reason of any demand made hy the {1riginat Borrower and Borrower's successors in interest.
<br />1I. Forbearance by Lender Not a Wainr. Anv foroearance bv lender in excrcising anv right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall nol he a waivcr of or preclude the esercise of any such right or remedy.
<br />The procurement of insurance- or the payment of taxes or other liens: or charges by Lender shalt not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedne" secured by this Mortgage.
<br />12. Remedies Cumuiatfn. All remedies prtWlded iu thi, Mortgage are distinct and wmuiative to any other right or
<br />remedy under this Mortgage or affmded by law (It equit\'. "nd may he eserc"ed wncurrentl\'. independently or successively.
<br />13. SUCtt!I5Of5..... Assigns Bound; Joint and SenraJ l.iability; Captions. The covenants and agreements herein
<br />contained shaH bind, ~nd the rights hereunder shaH inure to, the rt.~spective ~UCCC'iS{lrs and assigns t.'lf Lender and Borrower.
<br />-subject to Ihe provisions of paragraph i 7 hereof. All covenants and agff:cmenl<; of Borrower shall he .ioint and several.
<br />The captions and headings of the paragJaph<;. of this Mortgage are f(~r L(.lnVemcnce only and are not tn be used to
<br />interpret or deline the prOVISions hereof.
<br />14. Notic~.. Except for any notice required under applicable Ln,- to Ix given in another manner. (a) any notice to
<br />Borrower provided for in this Mortgage shall he gfven hy rna.iiing. ...uch nottce hv certified mail addres~d to Borrowc.r at
<br />the Property Addres-s or at such other .1ddr~-s as BO'rrower ma~ dc:...,grw-te hy notlce to Lender ~s provided herein. and
<br />(b) any notice 10 Lender shall Pe gi....cn h~. ce.rlifie\1 mad~ return recC"lpt rl"quested. W LencJer\. address stated herein ('r to
<br />such other address as Lender may designate hy neltJ.:t" ft) BOH\lWer <t:':> provided her~IlL !\n\' notice pro-vided for in this
<br />Mortgage !ShaH he deemed fO have heen given to BOrr(\w(,f I.)T l_".nder \.\ hen given in the manner designated herein.
<br />IS~ Uniform l\lorta.qe; Go't-erninc 1..:1,,"; Se\"erabiltty~ Tn!"; form of mortgage ,.:ornhinc-s uniform (ovenants for national
<br />use_and non-uniform covenanb with limited variations by lun"JKtinn h) .:'tinstiwtc a unifoml sc~urity instrument covering
<br />real property, This Mortgage shall he governed "" the ,aw of the jllti"hetion Il1 which the Property is located. In tbe
<br />event that any provisi-tm ..:'lr clause of [hi.;; Mortgage Of' the N\.lte clmllicf\ \dth applicable law, such conflict shaH not affect
<br />other p-rtwisions of this ~fortgage or the Note which can he gl"'CO e11eel withmtt the conflicting provision, and to this
<br />end the provisions of the Mortgage and the ~("tte are dedari('-d hI he \e\:crahle.
<br />16, Borrower's Copy. Bormwer ,hall be fuumhed a ,:nnf,'rmed ,'opy nf the Note and of this Mortgage at the time
<br />of execution or after re\."'Ordation hereof.
<br />17. TraRlfer of the Property; Assumption. It all N .n) pcm "I the Properly or all interest therein is sold or transferred
<br />by Borrower without Lender's prior written \,:t.)n~nt, ex\.'luding la) the \,:n:alion of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a l)url,.:ha~ rnone.y 'i.\."\,:uri!~ Interest h...r household appliances. (c) a transfer by devise.
<br />descent or by operation of law upon the death of " JOInt tenant or rd. the gra"t of any leasehold interest of three rears or less
<br />not contaIning an oplion 10 purchase. Lender may. at lcnder's nptinn. declare ail rhe >urns secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived SUd1 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 th.: soms secored hy this Mortgage shall be at such rate as Lender
<br />shall requesL 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 ac.cepted in writing by Lender. Lender shall release Borrower from all
<br />obllgl\lions under this Mortgage and the NOle.
<br />If Lender exercises. such option [0 accelerate. t.ender s.halt mail Borrower notice of ac~elerahoo in accordance with
<br />parwaph 14 hereof. Such notice shall provide a period of not less than JO days from the date the notke is mailed within
<br />whic.h BorrQwer may pay the sums decla.red due, If Borrower fa,ls '0 pay such sums prIOr to the expiration of such period.
<br />Lender may. witbout further notice or demand on Borrower. ",sol.e any remedies permitted by paragraph 18 hereof.
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<br />NQN-UNIFOlUd COVE!'lANTS. Borrower and Lender further cosenant and agr.:" a, follows:
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<br />11. A~~ a-dies. Ex<<pt as provided in pUl1l&rapb 17 hereof, upon Borrower's breach of all)' covenant or
<br />~t of aorr_'el' ill tills Mortaaae, induding the covellants to p3)' wben due any sums secured by tbis Mo......e,
<br />~ prior h> 8(C~ shall mail notice to Borrow., lIS provided in pal1l&raph 14 hereof speeifylng: (t) the breach;
<br />(a) ~.~ ~ to eu",. sm:h btueh; (3) a ....te. not 1_ than 30 days from the date the notke is mailed to Borrow'er,
<br />b)'....~.h51Kh~h lll......etmld; and (4) tbat f.Unre to enn sueh breach on or before the dl\le sPf'Cltled in th. notice
<br />~,.lt 11I1l<<~of the sums secured by this. Mortcaae, tor.dosun by judicial pro,'.eding and sale of the Property.
<br />'fI!,t~~ hIIt.W'lI'IR Bor""....er of the rlgllt 10 reinstllte aft"r lle,..ieralion and the right to assert in the foredosure
<br />'.~' CIlll<~"*. of. a deflitllt or any "ther defense of Borro....r to aceel.ratiou aud foreclostlre, If the brtltu:h
<br />lIt~ ~..or"~ tM dtI!,,~ in the IlOflce, !.ender atl..,lIder's optinn may d~da'" all uf the SUIUS s.cuNd by
<br />. .. ...... tu bt ltaIDl!diattly "tIC and. payable without fUrlber demund aud may fo"",lose b) judicial proceeding, tender
<br />~ bt ... tolkd in.....,b pro<<eding all ex~ of foredosure, includina, but not Iitnifed to, cOIItS uf dcwu....ntaQ
<br />~ .t~....iitkt.~.
<br />1t.,:' ..,... IUaht tu It.....t". Notwithstandinll Lender', a~eeleration of the ,urns ,,,cUl'ed hy this M<'ftllage,
<br />BoI'rower $hallhave tile ript 10 have any pror;eedi~, begon hy Lender to cnfo<<e thi, Mmtg..ge disc,mtlnued lit any I.me
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