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<br />83- 004332
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<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 tenns of payment, such
<br />amounts shan 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 />pennissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8; Inspection. Lender may make or cause to be made reasonable entries upon and inspections cf the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property .
<br />9. Condemnation. 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 slims 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 hy 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 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 />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 t and 2 hereof or change the amount of
<br />such installments.
<br />10.. Borrower Not Released.. Extension of the time for payment Of modification 0f amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower s.hall not operate to release. in any manner.
<br />the liability of the original Borrower and Borrower', successors in intercst. Lender shall not be required to commence
<br />proceedings against such successor Of refuse to extend time fOf payment Of 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 />U. Forbearance by Lenckr Not a Waiver. Anv forbearancc tw Lender in excrcising anv 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 be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedne" 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 hy law Pf equity. and may he e...crciscd concurrentl\'. independently or successively.
<br />13. Successors and Assigns Bound: Joint and Senrnl l.labUlty; Captions. The covenants and agreements herein
<br />contained shaH hind. and the rights hereunder 'ihall inure to. the fC'ipective !\lICCC"\S0rs ilnd assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereoL All covenants and agreements of Borrowcr shall be joint and several.
<br />The captions anq headings ot the paragraphs of this Mortgage arC' fOf ..'onvcnience I.)nly and are not to he lIsed to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law te> be given m another manner. (a) any notice to
<br />Borrower provided for in this ~iortgage shall he given hy mailing '\l1l:h not lee ~y certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may deSignate hy notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given hy certified mail. reWn) receipt requested. to Lender's address stated herein Df to
<br />such other address as Lender may designate by notice to Borro\vcr a\ prf,vided herein Any notice provided for in this
<br />Mortgage shall he deemed to have been given to Borrower or Lender \;;,,,hen given in the manner designated herein,
<br />15. Uniform Mortgage; Go\'erniD1l Law: Se,,-erability. Thi-. [(,rm ,-\f mortgage ..'ombines uniform covenants for national
<br />use and non-uniform covenants with limited variations ~y .iuflsdH.'tit"\o kl ..:onstttute a unif\.)ml sl..-"Curity instrument covering
<br />real property. This Mortgage shall be governed hy the law "~I the iurisdlctlon In which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note ,"t~llflicls with applicable law. such conflict shall not affect
<br />other provisions. of thIS Mortgage \.)r the N0t~ which can he given effect withoul the \..'onllicting provision. and to this
<br />end the provisions of the Mortgagt: and the "lotc are I.ledared h) he ~cvcrabk.
<br />16. Bonower.s Copy. Borrower shall hr fUfnished a ":l'llfnrmetl (Op)' ('If the Note and of thi~ "Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Traosfn of tbe Property: Assumption. If 311 or any part ,,[ the Propertv ('r an interest therein is sold or transferred
<br />by Borrower without Lender's prior written c\."lnscnL cxdudillg tal (he ".'rcation l'f :1 lien or encllmbran~e subordinate to
<br />this Mortgage. (b) the creation of a purcha~c mon~y >;ccurity interest for household appliances. (e) J. transfer hy devise.
<br />descent or by operation of law upon the death of a joint tenant ()r (J) the grant (\{ any leasehold interest of three years or Jess
<br />not containing an option 10 purchase. Lender may. at I.ender\ l'plam. dedare all the sums sCl:urcd by this Mortgage to be
<br />immediately due and payable. Lender s.hall have y,aived slI\.'h option Tn accelerate if. prior to the saie or lfansfer. Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in \\-'fiting that the credit of such person
<br />is satisfactory to Lender and that the interest payable ('n the sums secured hy thi, 1o.10ngage shall be at such rate as Lender
<br />shall request. If Lender has waived the option to 3ccelerate provided in this paragraph 17. anu if Borrower's succcssor in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borro\\er from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borro\\er notil.:C of tlL'celerarlon in at.:cordance with
<br />paragraph 14 hereof. Such notice shall provide a period of ,"'t less lhan .10 days from the date the notice is mailed within
<br />which Borrower may pay the sums dedarcd due. If Borrower fads ro pay su~h sums prior to the expiration of such period.
<br />Lender may, without further noticc or demand on Borrower. invoke any remedies permitted by paragraph I g hereof.
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<br />NON-UNIFORM COVENANTS. Borrower and Lender furrher co"cnanl <sod agre~ as follows:
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<br />18. A.cceleratloJJ; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of an)' covenant or
<br />.~ll1ent of Borrower in tbis Mortgage, including the cownants 10 pa)' wben due an} sums secured by tb.is Mortgage,
<br />Le~d\lrprlorto acceleration shaD maD nollce to Ik>rrower as prm'ided in parllgraph 14 hereof specifying: (I) the breach:
<br />(l)~.actl.on~d to cure sucb breach; (3) a dale, not less than 30 days from the date the notice is mailed 10 Ik>rrower,
<br />by "llkh sac" ~lll;b mllSt be cured; and (4) tbat failure 10 cure sucb breaeh on or b(,fore the dale speclfied ill the notice
<br />RIllY re.u\t.lll aSCekration of the sums secured by this Mortgage, foreclosure by judIcial proceedlllg and sale of the Property.
<br />TlI.<<!nottce, 5halI.furtllerlnform Borrower of tbe right to relllstate after acceleration and the riltht to assert in the foreclosure
<br />, P10Cft~ the lIC1n-e:dsttllcc of a default or allY olber def,,"se of Borrower to acceleration and forecloslln:. If the breach
<br />l$not~. on or before the datt specified in tbe notke, l.ender at Lender's option lUay dedare aU of the SUm> sN'ured by
<br />ll\ls ~e tobe 1ll1Dledllottl)' due and payable without further demand and may (uree!ose b)' judicial proceedin&. Lellde.
<br />s",lbeeJl~d to co1lotd InslKb pr(K'eedlng all expe..se.s of foreclobure, indudlng. but not limited to, costs of documentllrJ
<br />e"l~e. ~ts and titlJ reports.
<br />It. Bo~e"'s I\~ to llehlStatt:. Not'hithstandmg Lcnder'\ acceleration (If nlC ;..urns :;{.'"i,:UH-;d hy {hi!'. \h)ftg.igC,
<br />Borrower !ball have the right to have any proceedings begun by Lender tn enf0C('(' liw; ~1(}rtgagc dis.cnottntlcJ at iHl} lmh.~
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