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<br />84.- 00-4456
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<br />Lender's written agreement or appiicabie iaw. Borrnwcr 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 ?ecom~,":~ditiOrial
<br />indebledness of Borrower secured by this Mortgage. Unless -Borrower and Lender agree to other tennsJof-payment;';s\J~!f:~
<br />amounts shall he payahle upon notice from Lender to Borrower requesting payment thereof. and~_~haJ_J-bear,-inter~-~ff9In:::th~
<br />date of ,disbursement at the rate payable from time to time- on outstanding:_'principaJ under _the--Nete '-unle~o;pa~~~-:-'o~--
<br />interest at such rate would be contrary to applicable law, in which event sllch amounts- shan bear'interest-at:,the::'hig~est~rat~<
<br />permissible under applicable law. Nothing contained in this paragraph 7 shail require- Lende'r to -incur-.-any ,ex:~n~}l!"-'-t~~~;.
<br />any action hereunder. , ' " _',_ ,_ ',_ -_,::-',__:~,'_:,-:-_<_~"--;'
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and _inspections-of t~_e:ProJ'~~Y-i'_ Pt(}~!~~__,:
<br />that Lender shan give Borrower notice prior to any sllch inspection specifying reasonable- caUSe therefor 'reIated"tcf- ~,~-?-~~r~r:
<br />interest in the Property. _ '" _:_ _ ,':-- _:._;:-:-:_~_-,:':-_<
<br />9. Condemnation. The proceeds of any award or claim for damages. direct or co~sequential,:in'c~:nlnecti,o,_n'_'_w_m'r~n.r'
<br />condemnation or other taking of the Property. or part thereof, or for cmweyance in lieu of condemnation: are' hereby:ass.ig~:um';
<br />and shall be paid to Lender, . .. .
<br />Tn the event of a total taking of the Property, the proceeds shall be- applied - to the sumS 'secured'_ bY:Jhi~"':'M~~~~g_~r" _
<br />with the excess, if any, paid to Borrower. In the eVent of a partial taking of the Property. unless 'Borro~er- a~d-"'~L~n~~--
<br />otherwise agree in writing, there shall be applied to the sums secured by this Mortgage sllch-p~op-ortion'of--the:,:.p-ro,~~s-
<br />as is equal to that proportion which the amount of the sums secured by this. Mortgage -immedia~ely~pr~or,t~:,the:::.~~te,"_~f.
<br />taking hears to the fair market value of the Property immediately prior to the date of taking, with-the balance 'O[the:p~eeds_-"
<br />paid to Borrower. _ ,', ,_-_ "_~, -
<br />If the Property is ahandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor-,()ffers,~t.o'-J11ak_eL
<br />an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after :the -date"such)lo~ice;-}~>;
<br />mailed. Lender i5 authorized to collect and apply the proceeds. at Lender's option, either to restonition "or'~-repair:,:of.'-tbe- ,;
<br />Property or to the sums secured hy this Mortgage.
<br />Unles.s Lender and Borrower otherwise agree in writing. any such application of proceeds,to-principal.shan'Tio~-:extend
<br />or postpone the due datc of the monthly installments referred to in paragraphs I and 2 hereof or change--the'_amouriLof~"
<br />sllch installments.
<br />10. Borrower Not Released. Extension of the time for payment or mo~- ~cation of amortization-of the sums-seem'cd.
<br />by this Mortgage granted h-y Lender to any successor in interest of P(1oITo\J.,' hall not operate, to release, in any':manner.
<br />the liabiliry of the original Borrower and Borr:Jwer's SU~CCS"iors in '-rcst Lender shall not be required to _commence
<br />proceedings against sllch successor (lr refuse to extend time for payment or otherv.-.ise modify amortization- of -the-- sums
<br />secured by this Mortgage by reason of any demand made hy the original Borrower and Borrower's successors in'interest:-
<br />11. Forbearance by Lender Not a \Vaiver. Any f(\rhcarancc by I.coder in exercising any right or remedy'hereunde'r;-or
<br />otherwise afforded hy applicable law. shall nN he ;1 waiver of Of preclude the exercise of any such - right or remedy.-
<br />The procurement of insurance or the payment of ta"\cs (lr (1ther liens or charges by Lender shall_ not be a waiver. of I~enderts
<br />right to accelerate the maturity of the indebtcdnco;;s secured bv thi~ Moruwgc.
<br />- 12. Remedies Cumulatr;e. All remedies pny.ided in this ~lortg3g~ ;re distinct and cumulative to any other right or
<br />remedy under this Mortgilgc or afforded hy law pr equi!v, ;lnd may he exercised concurrently, independently or successively;
<br />13, Successors and Assi~ns Bound~ .loint ~U1d Several J.iability: Captions. The covenants and agreements herein
<br />contained shall hind. and the rights hereunder shall inure to, the rcspcdive SlIcccS-.\lors and assigns of Lender and Borrower,
<br />~ubject to the provisions of paragraph 17 hereof. All coven<lnrs and ~lgreements of Borrower shall be joint and severaL
<br />The captions and headings of the paragraphs of this Mortg:Jgc arc for convenience ("nly llnd are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice reyuired under applicable law IO be given in another manner. (a) any notice to
<br />Borrower provided for in this Mortgage ...hall he 1,!ivcn hy mailing ...uch notice by certified mail addressed to Borrower at
<br />the Property Addre~:> P[ at ~Hch 0ther addrc",... ;:." Borrower !1!~Y de,i!!nnte by n0Iic(~ 10 Lender 3S provided herein. and
<br />(h) any notice w Lender shaH bt:: gIven hy c~rtified !Hail. retum r~c~lpt rcque.<;tcd, to Lender's address stated herein or to
<br />stich other addres~ as L~nder may designate h~, notice to Borrr,wcr as provided herein. Any no lice provided for in this
<br />Morrgage shall be deemed to have h~ell gl\'en to BOrr(1Wer \11" Lender when given in the manner designated herein.
<br />is, Uniform i\t0l1g~e: (;o"'erni~ Law: Sen:-rabilit),. rhlS ft1fm (1f mortgage c()mbines uniform covenants for national
<br />use and non-uniform co\'enalHS VI i!h limited variations lw jurisdictltlll to constiww a uniform sccurity instrument covering
<br />real property. This Mortgage ..hall he gll\-eITlcd hy the ~la\\' l)f the ]uri"diction in which the Property is located, In the
<br />event th,lt any pnwiSion or clause ()f thi" ~'1011gage ('I" the "Note ('(,nlliei'; with ~\prliC~lhle law, such C~10t1iCl shall not affect
<br />other p[;'-,.....ision::- ~~f thiS M{)rtgag~ ~1f :ht:: \!ot~ whl..::h i.'an t'e given effect \.vl!hou! lh~ conflicting provision. and to this
<br />end the pnwisions (,f the ~1nrtgagc :.\nd the ~otc' arc ...k-cbrcd 1\1 be "cverahle.
<br />16. BOfr\lWer'S Copy. Borrower shall he htrnishcd ~\ ":,\llh1ffl\l:d copy of the NOle <lnd of this I\'lortgagi:.': at the time
<br />of c,,"e...:ution 1)1' aftcr 1"1..\.'l)rdation hel'Ci.lf.
<br />17. Transfer of the Property; A~Ulupiion. If all ~1r an~ pMt ,)1' the Propcrty t1f an interest therein i.. l'old or tmnsfcrred
<br />by Borw\\-a \\lth\)ut lA'nder's prior writh_'ll \.'_~II,,('nt, c:\cluding (;1) lhe ~'rcaliol\ (If a lien or cn~llmhrance suhordinate to
<br />this Morlgagt:. \hl the ;.'rcatlon (~r a Plln.:ha...e 1ll\111CY ....e...:mit! mtercs.t f()r h()w\chold appli:lIH.'cs, (c) a transfer by devise,
<br />descent or hy \)pcration of la\'.- upon the dc,uh \1f ;\ _i\lifll ft;fl,ml ..-.r (.II the grant ~lf any It.::asdlOld interest ()f threi: years or less
<br />not i,;ontaining::ln l'ption tn pur~has\", I cnder m~l:, at Lender's \'~plh)fl. tb::lan: all the sum~ sc('un::d hy this 1vfortgagc it) be
<br />imm~di~ltcJy due ;wd payable. LC'!ldcr ...haJJ na\l: \.\d!VeJ '-!H."h \lprillll !l. ~1(';l'..'1cra[c if. rrior h.l thl' ~atc (H' transfer. l.ender
<br />.lnd the person W whom the Property is !\) he "old or 1ran~tcrreJ reach ,1gn:1:0lt;nt in writing that the credit of ~uch pcrs~,n
<br />is. satisfactory to LcnJer and th~lt the interc)1 pa}.lhle \)11 the ..um... ,e..:urcd by this ~h\rtgagc shall be at 51h.:h rate ,l' Lender
<br />sh~\1I rcqllcs.r. If T.ender has wai\'cJ the "Ption to,) ;\l'..:dcratc pro\idci.l in this. p;lragraph 17. and if Borrowcr\ SllCCCSSl\r in
<br />interes.t has. c.\c;.;u:cd a written :lssumption agreement act:cplcJ in ',\ ritmg by I l-ndcr. Lender ....hall release Borrower from all
<br />obligations under this Mortgage and the ~ot~.
<br />If lender ex~r.,;ises slIch option to acce!eratl', I Lader "hdl1 1l1.Jil B(\rl'\lwcr ntHicl-. ,..Jf .K..:c1eratil.'il In ;l;,:c(lfi.bn~~' \~,ith
<br />paragraph 14 he~of. Such ni..l[\ce shall pw\'idC' ,1 refll\J ...lot" rli..'! It's, lhan JO da}.. from lhe date tht: Il\.)fi\.:,(' i.. mailed within
<br />which Borrowl.":r may pay the sums ded,m~-d dul.-. If Bt)rrl)\\Cf Lot, '0 pay <;!ll:h "'Unls prl\)1' 1\1 the ('\.pirati(}1\ ,.f ql<.:h pCrLod,
<br />Lender may. without further O(lticc 0r ,Jcm:wJ i..'n Hl..lrrl.)\\Cr, !n\,'i-.<: ,H1) n:\llt;dic~ pCfll1ltlC~l b:.- par~lgr;l.ph !S hcn.'i..IL
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<br />NON-UNU'ORM COVENA~TS. Born.wcr .m\.! LcuJcr funhcr (l'\'I.'Il.!l1i and agree ,l... hll!OWS'
<br />18. Acceleration; Remedies, Except as pco\"ided in para~(aph 17 hereof. upon Born.)l.\-'l'r's bh'U,h of un,\' l~tln'nanl or
<br />agreement of Borrower in this \lortg8~e, induding. lhe i.'on-:mllh to pOt) whl-n dUl;' an.' "UIUS 'oil'cured by this ,\lort~a~t',
<br />Lender prior to acceleration s.hall mail notke to s.;)nmn;,( :..... prU' id~d in pafa~r~ph 14 h~leof spl'cif.\- in~: t Il thl' Im.'lh:h:
<br />(2) tbe action required to cure such hreal.b; (.~) a datt'. nul Il_.~" Ihan J() da.~... hum th\.' dah.' the notin' is mailed to Borru\\Cf.
<br />by which such hrt'3Ch miL'it lH: (.uf\'d; and (4) that fuilurc 10 l'lll"l' ..tJt'h hfl~arh on or befufl' the dale ~pcdth~d in the norkc
<br />ma)' result in acceleration of thl' 'mltlS M'l'urcd hJ thh \lufl~aJ.:.l', forcdo!l.HrC h)' judkial I'Wl'cl'ding and ~:ilc of the '.roperty.
<br />The notin shall further inform Bornnn.'r uf the rh:;h. It) n'iuslalt: aher al'{'dt.~nltiull and th... ri~hl tv a_'........cl in the fon:c1osun:
<br />pro(.tedini: tht' nou~t'xish~nct." of a ddault (If :m) oth"'~f ddclN.' of BOrr{)~-CI to .1'-'i.'i.'It.'ration and furcdnsun'. If the hn.'ul:h
<br />is not l'ured (U) or hcfuf't the dah' 'pt'dfit'd in tht' notin.. I ~t~ndl'f :li I,l'uder', nptiull mil;~ th..,:lllrc :,U uf the :<oounh '-tH'uf'Nl b~
<br />this Mortgag.e- 10 ht- imnu'1liah.'1) due aud pu)'ahll' "ithout furlhl'r demand and m:il) fun'i.:lo.'il' hy- judichlJ pw.....,l,ding. Lt',ukr
<br />mall be entitlt"d to l'ollt,'l't in ...m;h pn)('eedinl:. all "''-pt.'U'll''1 of (uredn.;nfl\ im:ludiul{, hut Hut Iimiif,'d tn, n"lst\ of llo~:tuucnhn~
<br />t,,'iden..:e, abstracts and title tCpHrtS.
<br />19. Bo-rruwer's Rigbt to Reinstate. J"..:l..,twith...t.:It\dnlg J ,:mkl'" ,_h~(k;..II,,'ll ,,1 ~~n.~ ;';n~ ,-~-, 'dl,:d b\- 11',;., \-ti\tl~.;g\'
<br />l:t.onower shaH have the right h! h-lH'e :111)' P1'\l(,I...t:d;ng.. ht.'pll.' hy I ~'nJt~, k nd,l),-,-' \hnlf:;'!!~f..' ,.~hu;nill'Ul'd .:1 ,lil\ tll11<..
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