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<br />83-004355
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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 terms of payment, . such
<br />amountsshall'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 />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/ r~tion. Lender may make or cause to be made reasonable entries upon and inspections of the Property. proyided
<br />.thatLender shall giye Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />. interest in the Property.
<br />9,' Condemnadon. 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 thercof. or for conveyance in lieu of condemnation. are hereby assigned
<br />and shall be paid to Lender.
<br />In tbe event of a total taking of the Property. the proceeds shall be applied to the sums secured hy 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 sllch 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 />lf the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to malee
<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 tbe
<br />Property or to the sums secured hy 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. Bonower Not Released. Extension of the timc for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall nOI operate to release. in any manner,
<br />the liability of the original Borrower and Borrower's successors in inlerest. Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by thc original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance hy l.ender in exercising any 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 pavment of !axes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indcbtedne" secured by this Mortgage.
<br />J%. Remedies Cnmulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equilv. and mav be exercised concurrently. independently or successively.
<br />13. Successors and Assillus Bound: Joint and Se,'eral Uabili1y; Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall inure to. Ihe respecllve successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. :\11 covenants and agrcemenls of Borrowcr shall be ioint and several.
<br />The captions and headings of the paragraphs or this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice~ Except for any notice required under applicable law h) be- given in another manner. fa) any notice to
<br />Borrower provided for in this Mortgage shall be given hy mailing ,uch nOlice bv certified mail addressed 10 Borrower at
<br />the Property Address or at such other address as Borrower may deSignate by notice tD Lender as provided herein. and
<br />(b) any notice to Lender shall be given by certified mail. return receipl rcquested, to Lender's address staled herein or to
<br />such other addre~'S as Lender may designate by notice h,) BOffO\\"cr as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed 10 have been given 10 Borrower or l.ender \\ hen given in the manner designated herein.
<br />15. Unifonn Mortgage; Governing Law: SCH!'rabiJity. This fl,xnl of mortgage combines uniform covenants for national
<br />use and non~uniform covenants with limited variations by Jurisdiction to ....rl.Ostitute. a uniform security lnstrument covering
<br />real property. This Mortgage shall be governed hv the law ,'f Ihe jurisdiction 111 which the Property is localed. In the
<br />event that any provision or clause of this ~1ortgage I.)r the Note nmilicb with npplicahle law. such conniet shall not affect
<br />other provisions of this :p.,.1.ortgage \)f Ihe No(c which Can b\: given effect \\'ith{lut the conflicting provision. and to this
<br />end the provisions of the Mortgage and the NOle are declared It> he ,everahle.
<br />16. Borrower's Copy. Borrower shall he furnIShed a c,'nl,Hmed copy ,,[ the Note and of Ihis Mortgage al the time
<br />of execution or after rc'Cordation hereof.
<br />17. T...nsfer of the Property; Assumption. If all or any part 01 the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior wriucn consent. t'xduding (a} the creation of a hen or encumbrance subordinate to
<br />this Mortgage. (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise.
<br />descent or by operation of law upon the death of a joint tenant ()f (d) (he gram of ;;my leasehold interest of three years or less
<br />not containing an option to purchase. Lender may. at I. ender's ,'ption. declare all Ihe sums secured hI' Ihis Mortgage to be
<br />immediately due and payable. Lender shall have waived such oplion to accelerate if. prior to the ,ale or transfer, Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in wriling thaI the credit of such person
<br />is satisfactory to Lender and that the interest payable "n the sums secured bv this Mortgage shall be at such rale as Lender
<br />shall. request. If Lender has waived the option to accelerate provided in Ihis paragraph 17. and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shan release Borrower from a:;
<br />obligations under this Mortgage and the Note,
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereoL Such notice shall provide a period of nol less than 30 days from the dale the notice is maOed within
<br />which Borrower may pal' the sums declared due. If Borrower fails to pay such SlIms prior to Ihe expiration of such period.
<br />Lender may, without further notice or demand on Borrower. invoke any remedies permitted hI' paragraph 18 hereof.
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<br />NQN-UNtFORM COVENANTS. Borrower and Lendcr further covenanl and agree as fdlows:
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<br />18, Accdenuion; RlIDledies. Except as provided in paragraph 17 hereof, UpOIl Borrower's breach of any covenant or
<br />ag!\llIDl,ent of Borro.wer lu tllis Mortgage, including the covenanls to pay when due any sums secured by this Mortgage.
<br />~U::.l'~ foaeceletation sbaU mall nollce to Borrower as pr",ided ill paragraph 14 hereof specifying: (l) the breach;
<br />f:i)t~ ac:tl9n..fliq~cl to cure sueh breacb: (3) a date, nol less tban 30 days from tbe date the notke is mailed to Borrower,
<br />b~whicII. ~b.b~/l.must.becured;and (4) that failure to cure sucb breacb on or before tbe date specified in tbe notice
<br />"!l!)' ~u.lt~acceknltlon, oftl\e snms secured by this Mortg!l&e. foreclosure by jndicial pro"""dinll and sale of the Property.
<br />TI!i:~ ~U ~berJnf~ Borrower of the right torein!itate after acceleration and the rigbt to a."ert in the foreclosure
<br />pr~.t"e.~~x.I!it~e 0{ a defaJllt or an,)' other defe...., of Borrower to acceleration and fored05nre. If the bNach
<br />1s1l~.ea",cl,onlJr ~fo",.thedatespeClfltMIlntbenotice, tender al Lender's option may declarc all uf the .ums secured by
<br />.' '0 be Ill!{It~l!tely due ..,d pa)'aIlle wllh.."t fnrtber dellland and mal' ("reel...", by judicial pro<:ffdinll' I,ender
<br />to,~!<:fin .$Ut;II procfl'dlll\l all exp.""", ..f fored~re, Including, hut nut limited tu. costs of duculllentar)'
<br />",tr~at1,Qtltk tepo!'W,
<br />:it: ~"r's ~I 10 Relllll1l1ie. N,)twilhstandmg Lender's acceleratIOn or the sum, ,ecur,'d by Ihi, Mortgage.
<br />Borr<lwer shallhllve the right to have allY proceedings begun by l.ender t" enfmce th" Mortga.ge ,!iswnlinued "t .1lY t.mc
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