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<br />83- 005408
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<br />Lender's written agreement or app1icable 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 a~ditional
<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 shan 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 !"lJ.te would be contrary to applicable Jaw. in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable Jaw, 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 cntrie~ upon and inspections of the Property. provided
<br />that Lender shan give Borrower notice prior to any sllch inspection specifying reasonable cause therefor related to lender9s
<br />interest in the Property.
<br />9. CondE'mnatlon. 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, arc 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 e~cess. 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 shalt he 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 sum"i 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. Bor-rower 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 hy this Mortgage_
<br />Unless. Lender and Borrower otherwise agree in wnting. any stich application of proceeds to principal shaH not extend
<br />or postpone the due dale of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time 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 not operate to release. in any manner,
<br />the liability of the original Borrower and Borrower', slIccessors in interest. Lender shall not be required to commence
<br />procct:dings against stich successor or refuse to extend time for payment or othef\\'ise modify amortization of the sums
<br />secured by this Mortgage by reason (if any demand made by the original Borrower and Borrower's slIccessors in interest.
<br />11. Forbearan4:e by Lender Not a Wah'er. Any forbearance by I.ender in exercising any right or remedy hereunder, or
<br />othe-:wise afforded by applicable law. shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The -~Furement of insurance or the ~a\'ment of t~lxe~ or other liens or charges hy Lender shall not be a waiver of Lender's
<br />right 10 acw1erate the maturity of the mdebtedness '\cclIred by thi~ M0rtgage.
<br />12.- -Re-lIIfl'Iies Cumulative. All remedies provided in this ~.lortgage nre distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded ~\' Jawor equity. and may be c\crci'\ed t'l)m:urrently. independently or successively.
<br />13. Successon and AssiR;ns Bound; Joint and Severnl Uabilit)-': Captions. The t:ovenanls and agreements herein
<br />contained shall bind. and the rights hert'lIllder shall inure- to. rhe rc~pcclive successor') and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereo-f. "II covt'nants anLi agfl'cmcms l,r BorTO\.ver shall be joint and several.
<br />Toe captions and headings of the paragraphs of this Mortgage are fl'r convenience 0nly ~Ind arc not to be used to
<br />interpret or define the provision;;, hereof.
<br />14. Notice~ Except for any notice requin..'d tmJcr arpJicahle law 1\' ~ given in another manner. (a) any notice to
<br />Borrower provided for in this Mt)rtgage "hall he g-lv~n DY mailin~ <,w.:h nnlice hy certified mail addressed to Borrower at
<br />the Property Address or at such ;)ther ;)ddre...~ .-1" H.:)rr')\~'Cr lI1;lV dc...ignate by nOllcc In Lender ;\s provided herein. and
<br />(bl any notice fO Lender shall he given hy o:rtifictl mad. ('{'furn 1~I.:Clpl requested, W Lender\ address stated herein or to
<br />such other address as Lender may de\igna.te flY notice t1' Borrllv.-cr as provided herein, Any notice pnwided for in this
<br />Mortgage shall be deemed to h,wc been glVi:n t0 Borrower 1.-'1' I l:fJda \<\ hen given in lh~ manner tlesignuted herein.
<br />15. Uniform 1\-1ortaagE'; Governing I_a~: Seu'rabilitJ, l"hi.. ImOl of mortgage -({lmbincs uniform covenants for national
<br />use and mm~unifonn covenant<; \\iih limitl'd \i\fi:Hlon:-. hy }urisdH:linn in c,-~nstitulc a uniform security instrument covering
<br />real Prol~rty, This ~.fortgagt.' ...h;'ill he govcrnl.-"d /-Iv Ihe law l'f the juri,diction in which the Property is IOl.:ated. In the
<br />event that any provision or rlau...c l)f thi... Mortgage \)[ the Nl)tc t:1.-~nnich with applicabie law. stich conflict shall not affect
<br />other provisiom of this Mortgage or the N(\k wnJ('h can be gwcn elke! without the conflicting provision. and to this
<br />end the provh.ions of the ~'lortgagC' and th(: ~otc an: declared fl.) he 'Ieventhle.
<br />16. Bonowu's ('oP~'. Borrower ...hall bt: furru..hcd a u,nft1wlI.."d ~,lrY l1f the Note and of this Mortgag.:: at the time
<br />!.,)f execlltion or after recordation herc~lf.
<br />17. Transfer of the Pro-pert~-: As..\umplion, II ;.-tll (If any part l't th-.: Property or an interest therein il; sold or tran:>ferr~d
<br />by Borrower without Lender's prior ""riUe-1l ...~.1Il~clll. e'(l,'lllding (a) lhe neatlon of a lien or en(.:umbrancc subordinate to
<br />this Mortgage.. {b} the acation t1f a pun,:hasc fllt10ey ~~curity inh.."fcst f(lr household appliances. (c) a transfer by devisc.
<br />descent or by operation of 101\4 upon the death of a j('mt tt,:nanl ('r hll !he gran! (If ;lOy leasehold interest 01' three years or less
<br />not containing an option to pun:hasc. Lender may. at Lender'", Optll1n. dcd.m,' all the surns ~ei...ured by this Mortgage to be
<br />immediately duc and payahle. Lender shall have w~iv~d _'iuo..:h ,'PI ion h' acn:lcfatc i r. prior to the ~alc or transfer. Lender
<br />and the person to whom the Property i~ 10 be sold or tran~ferrl.'d reach agreement in writing that the credit of such person
<br />is satisfactory 10 Lender and that the intcrc~l pa)-':lhle on the Mlm~ seo.:ured t't-y this Mongagc ~hall be at su~h rate as Lender
<br />shalf request. If Lender has \\.'aivcd the llpt.H)-11 to ;1cccleratt: provided in this paragraph 17, find if Borrower's &Ucccssor in
<br />interest has execUled a written 3ssumption agreement accepted in ....-riiing by Lcndl!L Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option tL' accelerate, Lender sn.JIl m<iil Borrower notice uf acceleration in accordanc~ with
<br />paragraph 14 hereof. Such nl,ltrce shaH provide .\ period (,1' f\J.:it less than :'0 day;;, from the date the notke is lll{lilcd within
<br />which Borrower may pay the :owns declared du~. If Borrower fails 10 pay \u~h sums prior tn the ('.\.pirari011 of "llcn pt.'riod.
<br />Lender may, without furth~r notice or demand on Burrower. awoke :HlY remedies pamitlcJ by par<l,graph 18 hereof.
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<br />NqN.UNIFORM COVENANTS. Borrower and Lender funher co\'cn::u1t and ..tgrec a\ follows:
<br />18. Ace-deration: Reme-dies.. Jo:xcepl as prm'ided in paragraph J7 hereof. upun Borrower's breach of any covenant or
<br />agn-ement of Borrowu in thU ~1ortg:ag'f, in-cluding the ~:O'\-enant.-. to PH) ~ hen due an~- Silins 'i-et.'ured by this Mortgage.
<br />LeocJ<< ,nor hl ac-(:e-luation shaD majl nutlct' to Borrower as pftH:ide-d in IHlrl12.raph 14 hereof ~pt'cifying: (l) th\" breach;
<br />(%) the adlun teqU:lte.. to ('ure s~h breacb; (3) a date. noi l('~ than 30 da)''S Crum tht' date the Jwtke is maned to 8ornnn~r,
<br />by whlcb SIKh bre-ac" nUlst be cured;_ and (4) fbal faiturr- to ,'lJre such bre,lu'h on or before the date spedfkd in the notice
<br />m.,. R4UIt In__ll<<deratJon pf t-he '!iun" set,'urtd b>' f_hi~ M()rt~ace, fort:'(.lo1Sun.' bJ judich.1 prm.'tcdina and sale of the Pro~rt)'.
<br />The,aotke ~ furtlt.'r inform Bot-r(jwer of the right to (("insfate after u{'cdecatj()jl and .he right to a....5t;rt in the foreeto-s-ure
<br />'fO(~ t'he fl()n~-ti$te_Q(",f- of iii de-fautt or any other dt,'fen~(' or Bono\4-er to a<:cdefatwn and fOfCdosun':. If the brea.."h
<br />It DOt c-vnd 9ft of bet...r~ th-(r dalte i8pedfied in the mttit::c-. l.ende-r at l.endef's option ruilJ d-edal"t' aU uf Iht' sum:!i !o><'fured b)
<br />tkW Mm1P1(.l .0 bfdmmtdiateJy dur 'and fUI}abtt \\'ithuut hU1h~r tkmand and m.a., fowdo,;{' by judkial ptoci.'tding. tender
<br />-..u __ f-lItttkd to <,(dled in Jud" ,..u-c~l/'dln&- aU tX~Wii~ fj,f fnft"df)1iilfrt'~ im"ludillR, but not limited to) (.():sts of d",'um~Jltar}"
<br />..loJolJc., olaIf""" ami tl!k ff!lUm,
<br />1.9. B6rr0w:dl 1liIh' to R.fJnstate. N(Ww!lh<;.!<indmg lA~nthn'f, ~K!"'Ck;aL(ln .If tht~_ ',\101\ ",~~.tln;d hv {hi" \hln~.}~~
<br />I}QUvWtf ih..U hjJ";'( th<:, d.hi Hl hJ.~'(; any ptO(.ccdi-n~_~ }~-itm hy f nidt!J [,-, ctdvl"o.;.~ ih~" \.1.'llg.;:g(" di'~-~_jni,rlll,,"d <ll M1) tlHW
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