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<br />84,- 004464
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<br />Lender's wflth..n al!rccment or a[)QJicablc law. Borrower shall pay the amount of all mortgage insurance. premiums -.in-,the
<br />manner provided ~nder paragraph 2 hereof.
<br />Any amounls disbursed by Lender pursuanl to this paragraph 7, with interest thereon, shall become additional,
<br />indebtedness of BoriOwcr secured by ~his ~1'1ortgage, Unless Borrower and Lender -agree to' other -terms .of ;payment,'- _s~-';-
<br />amounts shan be payablc upon nolice rrom Lender to Borrower requesting paymenllhereof, and:shallbearinlerestfr()nnhe
<br />dale of disbursemenl al the ralc payable from time to lime on outslandlng principal under the. NOleunless paymOllFof~
<br />interest at such rate would be contrary to applicable Jaw, in which eventsuch'amounts shall-bear jnterest,'at.-the,-highest;-r~te:".
<br />permissible under applicable law. Nothing contained in this paragraph 7 shan require Lender to. incur-any- ~xpente:or_'t~e:<
<br />any action hereunder~
<br />8. Inspection. Lender may make or cause ~o be made reasonable entries upon and inspections of thePfoperty,provided,
<br />that -Lender shall give Borrower notice prior to any such inspection specifying- reasonable cause therefor re:lated--to'.,-Lelldet's
<br />intere~t in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages; direct -or consequential~ in -connection- with.::ariy
<br />condemnation or other taking of the Property. or part thereof; or for conveyance in lieu of condemnation~ are hereby'"'assignett'''
<br />and shall be paid to Lender.
<br />In Ihe event of a total laking of the Properly, the proceeds shall be applied to Ihe sums secured by this ,Mortgage.'
<br />with the cX"cc<>s. if any. paid 10 Borrower. In the event of a partial- taking of the -Property. unless ~orrower-- and-.. Lerider:"-
<br />tHhcrwisc agree in writing. there shall be applied to the sums secured by this Mortgagt:": 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- tht;:date_' _of
<br />taking bcar~ 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 hy Borrower. or if. after notice by Lender to Borrower that the condemnor offen 'to make
<br />an award or settle- a claim for damages. Borrower fails tl) respond to Lender within 30 days after the- date sucb-"notice- -is-
<br />mailed. Lender is authorized fo coHeet and apply the proceeds. at Lender's option. either to restoration Of ' repair of _the
<br />Properry or to the ~ums secured hy this Mongage,
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shan not extend'
<br />or postpone the due dare of the monthly installments referred to in paragraphs 1 and 2 hereof or change the- amount of
<br />'i-Hch installments.
<br />10. Borrower Not Released. Extenslon 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:,. .ill not operate to release, in any manner,
<br />the liability of the original Borrower and BorrDwer's ~llc:;:essors in ir," ~e~t. .1der shall not be required ~o commence
<br />proceedings against such successor or refuse to t.,(tend time for payr. ~ or .Jtherwise modify amortization of the sums
<br />secured hy this Mongage hy reason of any demand made ~y the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder. or
<br />otherwise <lfforded hy applicable law. shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procuremem of insurance or the payment of taxes or other Iien~ or charges by lender ~han not be a waiver of Lender's
<br />right to accelerate the maturity of the indehtcdncss secured hy this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
<br />remedy under this l\fongagl.' or afforded hy law ("r cLluiry. :md may he ~xercised concurrently. independently or successively.
<br />13. Successors and Assi~ns Bound: Joint and Set'eral Uahilit),; Captions. The covenants and agreements herein
<br />I.:untaineu shaH hind. and the rights herl'under shall inure to, the respecflvc successors and assigns of Lender and Borrower.
<br />subject h_) the pwvi<;;ions of paragr:.\ph 17 hereof. All covenams and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any nOlice required under applicable law (\.) be given in another manner. (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing ~uch norice by certified mail addressed to Borrower at
<br />the Property Address or at such other ,1dd(e~~ as Brirr(j\.\-'er ffiC\Y designate by nOlice to Lender as provided herein. and
<br />(b) any nO[ic~ to Lender shall he given hy certified mail. rCUlm receipt requesred. 10 LenJer's address stated herein or to
<br />such other 3ddress as Lender may designare hy noti...'c to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shail be deem~d to have been given to Borrower or l.ender when given in the manner designated herein.
<br />IS. Uniform I\fortgage. Governing Law; Se\'erabiliry. This form of mortgage combines uniform covenants for national
<br />use and non. uniform covenants with limited variations hy Jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage !<ihaH be gov~rned 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 cr.ntlicts with applicable law, such conflict shall not affect
<br />other pnY\Olsiom., l..f this Mortgage or the Note Whh.:h can be given dTeci \\'iihoul the conflicting provision. and to this
<br />end the provisions of the Mortgage and the Note are Jeclared to he "everable,
<br />16. Borrower~s Copy. Borrower shall be Furnished a c(lnformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of tht Property; Assumption. It all or any part l1f rhe Property or-an inlerest therein is sold or transferred
<br />by Borrower without Lender's prior written ,,'llnscnl. ex..:luding ('-I) the ac--".ti.on- of a lien or encumbrance subordinate to
<br />thlS Mortgage. (0) the creation of " pun,.'hasc money ,;;cl..'llfily inrcrest for household appliances. (e) a transfer by devise.
<br />descent or by operation of la\\t upon the death of a juUlt tenant (Ir {iiI tkLl grllll~ u. nn: 11Jll.oll)uhl iRllIriJot sf tRne ~'lJRro Sf l1€iG
<br />-~t JIJ"RtEliRiR8 IlR JpthJR \ F nhllf J Lender !Hay, at Lender's (jpti(lfl. declare all the sums secured hy this ?-.-1ortgage to be
<br />immeJiatcly due and payable. Lender shaH ha\'e waived slll..'h option to ac(.:e1erate 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 crt:<:dit of sHch person
<br />is. satisfactory to Lender and thoU the interest payable on the slims secured hy this Mortgage shall be at such rate as Lender
<br />shall request. ]f Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower's successor in
<br />interest has executed a wriuen assumption agreement accepted in \Hiting by Lender. Lender shall release Borrower from all
<br />obligations under this Morlgage and the Nole,
<br />If Lender exerdses such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 ...hl)'s from the date the notice i'i mailed within
<br />which Borrower may pay the sums declared due. Ii Borrower fails to pay sllch slims prior to the expiration \)f such period,
<br />Lender may. wichout further notice or demand on Horrower. invoke any remedies permitted hy paragraph 18 hereof.
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<br />NON-UNIFORM COVENANTS, Borrower and Lender further covcnant and agree ;:IS follows:
<br />18. Acceleration; Remedi::s. Except as pw'Vided in par~raph 17 hereof. ~=pm;. Borwwer's breach of any cm'enant or
<br />agreement of Borrower in this Mortgage, including the co\-enanls to pH.)' when due .IIn~' sums secured by this Mortgage,
<br />Lemler prior to acceleration shall maD notice to Borro,,'.. a. provided in paraK"'ph 14 hereof specifyinK' (1) the breach:
<br />(1) the action required to cure such breach; (3) B date. not less chan 30 da,)'s from Ihe date the notice is n1siled to Borrower,
<br />by which such breach must be cured; and (4) that failure to ("ure sut,.'h breach on or before the date specified in the notice
<br />may resuU in aneleratioo of the sums secured by Ihis MortgaRc. fOl'eclo,,;ure by judicial proceeding and sale of Ihe Property.
<br />The notice shall furthl"r inform Borro,,'er of the right to reinstate a(ter accelendion and the riJ,tht (4) a.ltScrt in the foreclosure
<br />prOceeding the non-existence of a default or an)' other defense uf Borrower to acceleration and foreclosure. If the breach
<br />is not cured on or before the date s~cifie-d in the notice. Lender af tender's option ma) dcdan: all of the sums secured by
<br />this Mortgaaf to be immediately due- and payable without further demand and UUI) furedose b,'- jUdicial prtK.'e-eding. Lender
<br />shall be entitled 10 ...'oUnt in such pnu.'ee-ding aU expt"nses of {unclosure. illduding, hut not limited to, ('o."b uf dOCllltu'ntill)'
<br />e\'ideut.'e, ab5tra('ts and title reports.
<br />19. Bonowt~s Right to Reinstate-. Not\'rithstandlll1; l.-~ni.k:l'\ ,H.u;IClala"n 'it ihc \linl" <;ci.ufcd by this ~hHrgagc.
<br />Borrower shall have the right hJ have ,HIY ptlKl.'cdings hcglw '..y L1..~Jlli~f h) l.;nt'o~.:c tlll'>- ,~-h)rtt:ilgC ,li~"\lnIHHlcd .It ;jIlY time
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<br />NIFA 8/84
<br />Series 1984A
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