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<br />84- 003530
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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 />manncr 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 l.ender agree to other terms of payment, s-uch
<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 Jaw, in which event such amounts-shaH-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 entries ,upon and inspections of the-Property, provided
<br />that Lender shall give Borrower notice, prior to any slIch inspection speci fying reasonable cause therefor related to Lei1dtr:s
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection"wiih--any
<br />condemnation or other taking of the Property, or parr thereof. or for conveyance in Heu of condemnation, ar'e_ hereby.assigti,ed
<br />and shall be paid to Lender.
<br />In the event of a total taking or the Property, the proceeds shall be applied. to the slims secured. by this Mo~gage;
<br />with the excess, if any. paid to Borrower. In the event of a partial taking of. the Property, unless--Borrower--and-:'-Len'q~r
<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 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'b~lance of-the'proc:eeds
<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_ such.~notiC.e>'i$'
<br />mailed, Lender is authorized to collect and apply the proceeds. at Lender's option. either to - restoration, cir;,:repair,--of:the
<br />Property or to the sums secured by this Mortgage. _
<br />Unless Lender and Borrower oth<:rwise agree in writing, any such application of proceeds to principal--snaI1- -n()(-:ext_errcf'
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or chan~e -the, amoqtit-,,:of
<br />such installments. ~
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortizati~n _orthe--SlIms-:~'ecured-:i
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not_operate to. release. in ,mY::__tn..a.nne,.r~','
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shan - not be- required to- c.()f!1rll~~~~'
<br />proceedings against such successor or refuse to extend tim; r payment or otherwise -modify amortiza~ion- of J~e;;'~u~s
<br />secured by this Mongage by :reason of any demand mf.~" by (he original Borrower and Borrower'~,;succe_ssors jon', :~~t~~,.st;;
<br />11. Forbearance by l..ender Not a Waiver. Any f01L~a(anCe by Lender in exercisioR any' right.-?f reme~y,herep!ld~~{_9~_
<br />otherwise afforded by applicable law. shall not be a waiver of or- preclude the exercise - of any _ such _ right or: -r~.Il1~_~yJ ,.
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shaH_ not bt.: a _waiver_-_of-L~nder~s
<br />right to accelerate the maturity of .he indel?tedne~s secured by this Mortgage.
<br />12. Remedies Cumulative. An remedies provided in this Mortgage are distinct-and cumulativ~ to--any_-oth~(_ rig,h~::o~_>
<br />remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently. _independen.tI~ :or_ suc~~ssj,:e]y._
<br />13. Successors and Assi2DS Bound; Joint and Senral {,iabilityj Captions. The covenants and -_agre_ements,:-he~ej~--
<br />contained shall bind, and the rights hereunder shall inure to, the respective .successors and-assigns of Lender-and- Borr()",er-,-
<br />subject to the provis-ions of paragraph 17 hereof. All covenants and agreements of Borrower shaH be joint. and :severa,E
<br />The ca~ions and headings of the paragraphs of this Mortgage are for convenience. only and are _nof-to Jx~,,,us~d--,,-t~__
<br />interpret or denne the provisions hereof.
<br />14. Notice. Except for any notice required under Hpplic~ble law to be given -in another manner;:, (a) _a~y _'riotiC~,~to
<br />Borrower provjded for in this Mortgage shall be given by mailing such notice by certified mail addressed-to,:B,orro';Ver,'-at
<br />the Property ii~ddress or <It such other address as Borrower may designate by notice, to Len;!er'-a_s:_provi_ded >here~'i~-,arid
<br />(b) any notice to Lender shall be given by certified mail. return receipt requ.ested, to ,Lender's ad,dress ~tate_d_'he~ei~., or,_t~
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice- provided:-fpr;--it~--this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the_manner,-design-atedherein~
<br />15~ Uniform Mort2age; Governing Law: Severability. This form of mortgage combines uniform cov~nan!s~~or:hadonal
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute_ a uniform security_ jnsqumel1t,~coverm:g
<br />real property. This Mortgage shaH be governed hy the law of the jurisdiction in which the Property- is located~' In.,the:
<br />event that any provision or clause of this Mortgage or the Note_conflicts with applicable Jaw, such _confli~t shalLn6t'__aft'~ct
<br />other provisions of this Mortgage or the Note which can he given effect without the conflicting provision, and to 'this
<br />end the provisions of the Mortgage and the Note are declared to be' severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy- of the Note a-nd of this- Mortgage_,at-the_ time
<br />of exec-ution or after recordation hereof.
<br />17. Transfer of the Property. Assumption. If all or any part of-the Property or an interest.therein is sold.or tfansferr'ed.
<br />by Borrower without Lender's pril1r written consent, excluding (a) the creation of a lien - or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase mone~ security interest for household appliances, (c) a.,tr~nsfer_ by devise,
<br />descent or by operation of jaw upon the death of a jOint tenant or {d, the grant of any leasehold interest of three-years or less
<br />not. containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shan have \vaived such option to accc1erate if, prior to the sale- or: transfer~ Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such ,person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at 'such rate as Lender
<br />shall request. ff Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreemenl accepted in writing by Lender, Lender shall release Borrower from ,all
<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 hereof. Such notice shall provide J. period of not les$ than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails fa pay such sums prior to the expiration of such,period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
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<br />NON-UNJFORM COVENANTS. Borrower and Lender further cove,nant and agree as follows:
<br />18. Accelel'ation; Remedies. EXcept as provided in paruJ:,raph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of ,Borrower in this [\-1ortgagc, including the cO\'enants to pay when due any sum.'i secured by this l\<tortgage,
<br />Lender prior to acceleration shall mail notice fo Borrower n.', pro\'ided in paragraph 14 hereof specifying: Ul the bre8eh;
<br />(2) the -action required to cure such breach; (3) a date,_not less than 30 da:ys from the date the notice is mailed to Borrower,
<br />by which such, breach must be cured; and (4) that failure IQ cure ~u('h breal.~h on or before the date specified in the_ notice
<br />may result.in acceleration of the sums secured b}' this Mortgage. foredosure by judicial proceeding; and sale of the Property.
<br />The- notice, shall further, hiform Burrower of the right to reinstate afler acceleration ,and ,the right to aSsert in the foreclosure
<br />proc_eedlng the DOo--existence of &\ default or 811l' ollu.'1 defense of Borrower to. acct'lt'ratiOJI and foredosure~ If the breach
<br />is not. cured on or before'the date spedfled in the notice. Lend~r at Lender's option may deduce an of the :sums set:ured by
<br />(his _~1ortgage to be innnedlately due and pa)'able without fUrlhl"r MlUltnd and may fOfecl~t bJ judicial ,pr04;t"coding. Lender
<br />shan be entitled to ('onet. in -such proceeding aU npefLoiJeS of foredrnmre, tn-dudln-n. but not limited tu, cosb of documenlDl")-"
<br />c\'idence, abstracts and rille reports.
<br />f'. Borrow'er"s Righi to Reinstate. NOlwith!it;)nding Lcndt1"'i' ~Kcd\..'.rJ,ljpn of the ..Hill!' <;C:t'un~-d by thl~ MMt~.I~C.
<br />Bonower'~haH have the right to have any rroceedingl> lx-gun by Li.'nder 10 enfnf(C HilS 1\-10l1gagc dis('-(lIHinueJ aI' an) time
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