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<br />83--004428
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<br />Lender's written agreement or 2pplicable 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 />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 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, Inspection. Lender may make or cause to be made reasonable entr;~s \lpon hnd inspections of the Property. provided
<br />that Lender shall give Borrower notice prior to any stich inspection spcifying 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 thereot 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. Tn 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 sectlred hy this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured bv 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 hy 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 stich 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 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 1 and 2 hereof or change the amotlnt of
<br />such installments.
<br />10, Borrower Not Released. Extension of the time for pavment or modification of amortization of the stlms secured
<br />by this Mortgage granted by Lender to any succe~sor in interest of Borrower shalt not operate to release. in any manner,
<br />the liability of the original Borrower and Borrower's slIccessors in interest. Lender shall not he required to commence
<br />proceedings against such successor or refuse to eXlcnd time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made bv the original Borro\\'cr ;:\nd Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Wah'er. Any forbearance hy Lender in exercising any right or remedy hereunder. or
<br />otherwise afforded by applicable law. shall not he a waiver ,'f or preclude rhe 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 indehtedne" sectlred hy this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this ?\.1ortgage arc distinct and cumulative to any {)ther right or
<br />remedy under this Mortgage or afforded by Jaw ()r equity. and may he t.',ercised concurrently independently or successively,
<br />13. Successors and Assigns BOllnd; Joint and Se,.eral Uabill!)'; Captions, The covenants and agreements herein
<br />contained shall hind. and the rights hereunder shall inure to. the r~specti\'c successors and assigns of Lender and Borrower.
<br />subject to the provis.ions of paragraph 17 hereof. All covenants and agreements. 1.Jf Borrower s.hall he joint and several.
<br />The captions and headings of the paragraphs. of this :\-1ongagc 3r(" [('I convenience (mly and 3.re not to he used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required LImier applicable 1::1\1..' h) be given ill another manner. (n) any notice to
<br />Borrower provided for in this Mortgage shall he given hy mailing such notice by ("..;rtified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may desig.nate by notice h..'"I Lender as provided herein. and
<br />(b) any notice to l.ender shall be given by ccnified mail. n:tum receipt requested. tn I ender's adJrcss stated herein or to
<br />such other address as Lender may designate hy notice to Borr('\'vc'T as provideu herein. Any n01ice provided for in 1his
<br />Mortgage shalt be deemed to have been given 10 Borrower l)r I.cnder when given in the manner designated herein.
<br />15, Uniform Mortgage; Goveming Law: Se\-erability. Thi\ f('rm (\f m0rfgagc combines uniform covenants for national
<br />use and non-uniform covenams with limited variations hy juri"diction h) constitute a uniform security instrument covering
<br />real property. This Mortgage shall be glwcrned hy the lav.. l)f tht.' _jurisdiction in \\'hich the Propert~i is h)caled. In the
<br />event that any provision or clause of this !\.1ortgage llr 1he \!()IC ;"l)nfliclS \>,ith applicahle law. stich conflict shall not affect
<br />other provisions of this ?\'fortgage ()r the ~()te \\'hi(h ;,.:~tn he given ctl'C\.'I \\-ithout Ihe conflicting provisiun, and to this
<br />end the provisions of the Mortgage and the Note are declared h"' he ..;,cverabk.
<br />16. Borrower's COP)'. Borrower shall ~e fllrni~hed .l. l'l\nh)rm<:d copy l"'\f the Note' and Df this ~'fortgagc at the time
<br />of eKccution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all tJf any part l\f the ProperlY or an intcrc'Sl therein is sold or transferred
<br />by Borrower without Lender's prl\)r writt~n ..:onscnL l~.\.\.:lllding {.II the ~r('ation of a lien or cncllmbram:~ subordinate tn
<br />this Mortgage, (b) the creation ("If a purchase mt1fh.'Y ~e~urit~ ink'rest fnr househoid applianc~s. (e) a transfer by devise,
<br />descent or by operation of law upon the Jeath of a jL)jnt tl'nant l\r i...n the grant l'[ any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may. at Lender\ \)I)[lon. dcdarc all the .'mms secured hy this l'vfortgagc to be
<br />immediately due and payable. Lender shall have \'-<lived sllch 0plil.lO li.\ a~\..'deralc if, prior 10 Ihe ...ale or transfer. Lender
<br />and the person 10 whom the Property is to be sold or tran~fC'rrC'd reach ~lgrecmCn[ in writing that the credit of "u~h person
<br />is satisfactory to Lender and thai the interest payable on the SUfn~ seL:urcQ hy this !vfortgagc shall be at su\.:h rate as Lender
<br />shall request. If Lender has waived the option to accelcHltc provided in this paragraph 17. and if Borrower's successor in
<br />interest has executed a written assumption agreemt:nt accepted in \\fiting by Lender. l.ender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accdera!t:. LcnJer ..hall mail Borrower nOIke of ~l((clera[ion in acconl:uKc \.I.ith
<br />paragraph 14 hereof. Such notice shall provide a perioJ of llt..'l less than 30 day:\ from the date the Iwth.:L' is tlli.dled within
<br />which Borrower may pay the SlIms declared due. If Borro\\cr fails. 10 pay su;.:h sums prinr tn the c:\piratioo l)f such period,
<br />Lender may, without further notice or demand on Borrower. invoke any r~medies. permitted by paragraph t R hereof.
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<br />NON~UNIFORM COVENANTS, Borrower and Lender further l.:o\"en;'l.l1t and agree ~l~ h)lIows.:
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<br />18. Acceleration; Remedies. Except as provided ill para~raph 17 hereof, UpOIl Borrower's breach of allY ,'ownant or
<br />agreement of Borrower in this !\Iort~age, including the cQycnants 10 pa)' when due any sums .~cl.lrcd by this ;\'lortgag~,
<br />tender prior to acceleration shall mail notice to Borro",er as prmided in pl\T'..~mph 14 hereof specifying: (1) the hreaeh:
<br />(2) the action required to clIre slIeh breach: (3) a date, nol less than 30 days frolll the date the notice is mailed to Borrower,
<br />by wld~h sucb br~ch must be cured: and (4) that f..illlre to "lIre sllch breach on or befure the date specified in the notice
<br />may result in .acceleration of tb. sums secured by this Mortga~e, foreclosure by' judicial proceeding and sale of the Property.
<br />The. notice shall furtbe.r inform Borro",er of the ri~ht to reinstate after acceleration and the rigbt 10 ,,,'crt in the foreclosure
<br />proceeding the non-exlstence of a default or any olher defense of Borro"'cr tl) acceleration and forecloslIre, If the breach
<br />Is not cuted on or before the date 'pecilied in the notice, Leuder al Lender's option may declare all of Ihe "'1IlS secllred by
<br />this Mortltagc to be immediately due aod payable ",ithoul fllrther demand and may foredn.e by judicial proceeding, I.ender
<br />shall be entitled 10 collect in slIeh procceding all cxpe...ses of foreclosure. including, but not limited to, "osts of documentary
<br />evidence, ablltrlK'tli and title report>;.
<br />19. - hrrowl'rs RJai.t to Rt'-instate. Nl')twJths.tanding l cndcr'.~ ~i;.:(dcralion of ;hl; <"ums sc("_urcd by thi" ~1ortgagt',
<br />Borrower shall have the tight lo have any rrocccding~ heg-un by l.ender (-1,) cnfon....c thl~ M\}ftgage di~col1l:il1uc-u ~! any time
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