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<br />83-rJ06575
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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 paragrapb 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 shalJ:be payable upon notice from tender to Borrower requesting payment thereof, and shall bear jnterest from-thee
<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 wh.ich event such amounts shall bear interest-at the higbest rate
<br />permissible under applicable law. Nothing contained in lhis paragraph 7shaU require Lender to incur any expense or take
<br />any action hereunder.
<br />8. laspection.. 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 cause therefor relate~ ?..... 'T --~~-
<br />intereit in the Property.
<br />9. Condemnation.. The proc:eed~ of any award or claim for damages. direct or consequential. in connection with an-y
<br />condemnation or other taking of the Property. or part thereof. or for conveyance in lieu of condemnation. are hereby assigned
<br />aod shan be paid to Lender.
<br />In lhe event of a total taking of the Property. lhe proceeds shall he 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 nnd - Lender
<br />otherwise agree in writing. there shan be applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proponion which the amount of the sums secured hy this Mortgage immediately prior to ,the date of
<br />taking bears to the fair market \'alue 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 h~' Borrower. or if, after notice by Lender to Borrower that the condemnor offers tomake
<br />an -award or settle a claim for damages. Borrower fails to respond fl) Lender within 30 days nfter 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 Mort!!age
<br />Unless lender and Borrower otherwise agree in writing. any such application of proceeds to principal shan not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installment-;.
<br />10. Bonnwrr No-t Rdeased. Exten:li:ion of thC' lime for payment (If modification of amortization of the sums secured
<br />by this Mortga.ge granted by Lender t,--l any ~UCCes.:'ttlr in interest of Borrower shall nOI operate to release, in any manner~
<br />the liabmt)' of the original Borrower and Borr0wer'<; stlcces<>ors in intcrest. Lender shall not be required to commence
<br />proceedings against ~uch successor or refuse t\,1 extend time for p~-l.ymcnt or otherwi"e modify amortization of the sums
<br />secured by this Mongage by reason 0f any demand made by the l'rJginal Borrower and Borrower's successors in interest.
<br />11. Forbearance by 1...f'fUle.r Not 11 Wah-er. Any f("Irhcarancc by t .coder in exercising any right or remedy hereunder. or
<br />otherwise afforded hy applica.ble law. ,,!l.~n not he ;1. waiver of or preclude the c'(("rcise of any such right or remedy.
<br />The procurement of in\urance or the payment of ta\l~'\ Pf other liens or charge~ P-y Lender "hall not he it waiver ('If Lender's
<br />right to accelerate the marurity of the- indebtcdnc"-.s <\eCII[('d bv thi... ~.tongagc.
<br />12. Remedies Cumuladve~ All remedies provided in thi... Mortga!!c arc distin\:l and cumulative to any olher right or
<br />reme~y under this Mortgag~ or afforded h\' taw or equity. dOt! may h<: c'\erclscti <:0ncurrently. independently or suc:cessively.
<br />13. Suc-l'nsors and Aqas Boued; Joint and Sen'ral Liability: Captions. Tbe covenants and agr\.' .."ts herein
<br />contained shaH bind. and the rights hereunder sha.1t inure h"l. the respective successors ,md as.ocigns of Lender al J. Borrower.
<br />subject to the provision" of paragraph 17 hereof. All covenant> and agft'--Cmcnts of Borrower shall be joint and several.
<br />The captions and headings of the paragrdphs of this MNtgage an" fN i:,)twcnicncc only and ~re not to he llsed 10
<br />interpret or dt:fine the pro~'isions hCf<<lf.
<br />14.. Noti<<~ Except for any notice required under applka~Jc ];P,V 10 be given in another manner, (a) -any notice to
<br />Borrower provided for m thi.. Mortga~ ~han be .lpvcn hy mlliling <,uch notice by cl:rtifled mail ;lddres~ed to Borrower at
<br />the Property ^ddre:~ or 3t !i.uch other addrC'S-'i :'is- Bnrrow('f may de~lgnatc hy- notice to I.coder as provided herein, and
<br />(b) any notice to l.ender shaH be t:ivcn hy certIfied mail. return fl'(..'t:-Ipt rt.:questcd. to Lender's address stated herein or to
<br />such other address as Lende-r may designate hy nOllci." to Borrower ~lS provided herein. Any notice provided for in thi~
<br />Mortgage- shalt he deemed to have ~n given to 8orrower ('If Lender ",,-,hen given in the manner designated herein,
<br />15, Unifonn Mo~; Go\'e-mina l..aw: Sen'rabilit~.. 'I'lli... fi)on nf nh'"\-rtgage ,:ombines uniform covenants for national
<br />use and non~unifonn CX1-VenarllS with limited varialion.. by illfl\di..~tion tf' constitute a uniform s..--curity instrument covering
<br />reat propeny. This ~iurtgage shall he governed '""y the law ('If the Jurisdiction in which the Property it; 100000ated. In the
<br />event that any provisioo \)r clause p( lhi(. Mort{lage N lhe Note conflicts ".-ith applic:"tble law. Souch conftier shall not affect
<br />other pH.,...'iswns of thi~ ~{ortgagc (lr the Note WhlCh ..:an he- !o....en effect wilhout the conflicting provi..ion. and to this
<br />end the provisions of the:- Mortgage and t~ Note are decbred l<.' be scverahle-.
<br />16. Borrower's Cop)..~ Borrower ..h..n ~ flJrnl,hed ;j -l.'~1nfflrmed copy of the Note anti (If this Mongage at the time
<br />of execution or after recordation hereof.
<br />17. Traasferof the Property; '\S5Umption. If all l)[ any p3rt of the Pmperty or an interest therein is sold or lransferred
<br />by Borrower without Lender's pr.or written consent. c"duding tal the l.'rearlon of a lien or en(,~umbrance subordinate m
<br />this Mortgage, {b) the creation (\f a purchase money security interest fDr household appliances. Ie) a transfer by devise,
<br />descent or by operation of law u~)n the dealh "'f .1 .ioint tenant or (d', the grant of any leasehold interest of three years or less
<br />not containing an option tet purchase. lentkr may. at Lender'$. option. declare all the sum~ secured by this Mortgage to be
<br />immediately due and pay.hle. tende_r dlaU h;lVC waived such option 10 accelerate if. prior to the s.ale Qr transfer. Lender
<br />and lhe- person ro whom lhe- Propeny is to be sold or transferred reach agreement in writing that the credit of such person
<br />i,. satisfactory to tender and thM the interest payable on the ~ums secured hy rhis Mortgage shall be at such rate as Lender
<br />matI TCqUe$L If tender has waived the option 10 accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has exct."Utcd . wrl<<en iUSumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obIiptions under thi< MortP8e and the Note.
<br />If te.ndcr ex.ercises s.uch option to acceleratt, Lender shall mall Borrower notice of acceleration in accordance with
<br />pansnph 14 hereof. Such notice shall provide a period or not less than 30 days from the date the notice i, mailed within
<br />which- Bonower may pay the $UIll$ declared due. If Bo-rrower fails to- par ~uch sums prior to the expiration of such period.
<br />Lender may.. without further notice- or demand 00 Borrower, invoke any remedies permitted hy paragraph 18 hereof.
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<br />N~UN"FOItM COVENANTS. Borrower and Lender further Ctwenanf and agree a~ h'll-ows;
<br />.& A~; Ilemedlol. E>tcepc.. pIOYIded ia ""ratlraph 17 he_I. u_ Bono_r's brea<h 01 .ny <oven.nl or
<br />____of IICIrrcilWN Ia tlds M......... ladedl... lhe <oveun" 10 p.y when due any sums ......red by Ibis Mo........
<br />~..... to ...lIIn__..... IlUlII aoIke 10 Borro..... .. provided in ""ratl....ph 14 heROf specifyinll' (1) lhe breacb;
<br />(2)....... ~ ia ___ ""-10: (Jl . ~ _ Ifio th.n .lG day. from t~ date I~ not!.", Is mlllled to Bonower.
<br />.., ..... -.II "-II. _ he "-* 1IJIIIl411hat f.lI_ 10 <UR !lUcll ........,b on or before t~ d.l. speelfied in I~ notk.
<br />__ ...... .. --...... oflli!e ....... ........ ., _ MOC1lIJIIe. 10...,,_ by jttdleW pro<eedltlll ud sale of I.... Property.
<br />1liit........fwtMtlll!f_ .......werof ltoe riJltJ 10 ",iaSUIfe aft... .e...fe'at.....nd t~ riJhllo _ in t~ fo_........
<br />.......... _.loIleIIceof . ...... 01' any otIoer tleIe_ of Borro..er to aecelenll.... ud fo_Iosu.... If the \".....,11
<br />.. _ClIoIIl_ '" Won ..... .... ........ in the ~. L....' .t bnder'. optIoII ~ _.... all of the ....... ~ by
<br />.......... .........., ... 1IJIII ...,...... mchuot f........... _mud .... mlq loree..... by judlelaI p..........u.... Lend.,
<br />.......... ...ftllIId... __ ........... alJ..-~..f f__, iA<IutIIJIL but _ IImi1ed 10. <_ of do<:u__ry
<br />........... ........ _1llliO .........
<br />...... ~""'Io ~ l'l<>twjll>ttandlllll Lendet., ""...",.Ie..tloo ,,[ tll< 'urn. """m1ld by th;. Motts..e.
<br />~thaH::b.wth rith' tt, hwve-any pf(~iu'p hcalUl by tender t€\ enforce thi! Morl5Age ditco-nhnucd .3' an)' hn~
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