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<br />84- 004486
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<br />Lender's written agreement or appHcable law. Borrower shall pay the amount of all mortgage insurance premiums ,in the
<br />manner provided under paragraph 2 hereof.
<br />Any amOllt'.t.s disbursed by Lender pursuant to this paragraph 7, with interest thereon, shaH become additional
<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 shall bear interest from the
<br />date of. disbursement at the rate payable from time to time on outstanding prin~ipal under the Note unless - payment of
<br />interest at such rate would be contrary to applicable Jaw. in which event stich amounts shall bear interest at the -highest rate
<br />permissible under applicable Jaw. Nothing contained in this paragraph 7 shalt 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 shaH give Borrower notice prior to any such inspection specifying reasonable cause therefor related -to- Lender's
<br />interest in the Property.
<br />9. Condemnatio~. 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. are hereby-assigned
<br />and shall be paid to Lender.
<br />I n the event of a total taking of the Property, the proceeds shall be 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' and'Lerider-
<br />otherwise agree in writing, there shall he applied to the sums secured by this Mortgage sllch proJ1ortion of -the proceeds
<br />as is equal to that proportion which the amount of the sums. secured h)-' this 1\1ortgage - 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. Borrower fails \0 respond to Lender within 30 days after the date such notit~ i.s
<br />mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of th~
<br />Propert)' or to the sums secured hy this rvfortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shaH not exte~d
<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 installments,
<br />10. Borrower Not Released. Extension of the time for payment or mcdification ('If amortization of the sums secured
<br />by this Mortgage gra.nted by Lender to any successor in interest of Borrower s}. :11 not operate to release, in any mann~r;
<br />the liability of the original Borrower and Borrower's SlIcct'--'i:sors in jntcrc~i:. r p<-der shall not be required to commence
<br />pr~!ng&.-..agatmt-.sucl+....succesSOI,,"or refuse to c).-tend time for paym C' l: ,'l.:rwise modify amortization of the sum's
<br />secureQ.;-py.::mis Mongage by reason ci any uemam.i liladc b~ ih-c Uf igiilai Borrowt:r ,Iud Borruwer':; 5ucceSSviii in interest
<br />~ 11~" F"~rbearanee:by~Le,!,der Not.3 Wah:er. Any forbearance by Lender in exercising any right or remedy hereunder. or
<br />otherwise a.ffOrCled"-byo-apptk:able- law; shall nN be a waiver of or preclude the t":xerdse of any such right or remedy-,
<br />The -lirocurement of insurahce'"or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured hy this Jvfortgage_
<br />12. Remedies Cumulative. All remedies provided in this Mortg.age arc distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded hy la\>,,' Of equity. and may be exercised concurrently, independc:ratly or successively.
<br />13. Successors and Assigns Bound; Joint and Several LiabiJit}': Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall inure to, the respectivt successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. All covenant" 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. Excepl for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall he given by mailing sllch notice by certified mail addressed to Borrower at
<br />the Property Address or in such other address as BorrowL"r may designate by notice to Lender as provided herein. and
<br />(b) any notice to Lender shaH he given by certified mail. return rccl'ipt requesled. !O Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borwwer as provided herein, Any notice provided- for in this.
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform 1\-tortgage; GO'to'crning Law; Se'to'crability. This form of mortgage combines uniform covenants for national
<br />lIse and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property_ This MOrlgagc ~han be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this ?\'tortgage or the Nole conflids with applicable law, such conflict shaH not affect
<br />other provisions of this Mongage or the Note whkh cnn be given effect without the conflicting provision. and to this
<br />end the provisions of the Mortgage i\Od tht.' ~otc are declared tn he severable,
<br />16. Borro".er's Copy. Borrower shall be furnished .t conformed copy of the Note and of this Mortgage at the time
<br />l1f execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all or any pi.lrt of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage. (h) the creation of a purchase nwncy security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the- death of a join! tenant or (dl the grant of any leasehold interest of three years or less
<br />not cont.tining an option to purchase, Lender may. at Lender's option, declare all the slims secured by this Mortgage to be
<br />immediatciy due ami payable. L(:ndtr shaH have ....i;liveu ~uch option ill i'l\.x.-dcratc if. prioT to the :-.alc: Of tl'ansfcr, Lender
<br />and the person (0 whom the Property is to be sold or tram.fcrrcd reach agreement in writing that the credit of such person
<br />is. satisfactory to Lender and that the interest payable on the s.ums. secured hy this Morlgage shall be at such rate as Lender
<br />shall request. If 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 agreement accepted in writing by I.ender. Lender shall rclc~'se Borrower from aU
<br />obligations under this Mortgage and the Note,
<br />If Lender exercises such "ption to accelerale. lender :)hall mail Borrower notice of ai.:cdcratlon in accordance with
<br />paragraph 14 hereof. Such notice shall provide ;t period of not less than 30 days from the date the notict:' is mailed within
<br />which Borrower may pay the sums declared due. If Borw\I,t:r fails !l~ pay such "HillS prior to the 0xpiration (If SUGh period,
<br />lender may, without further notice or demand on Borrower, invoke any remedies pt:rmittcd by p:uagraph 18 hereof.
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<br />NON-UNIFORM COVENANTS. Borrower and Lender further ~ovcnant and ;'lgrec as follows:
<br />18. Acceleratioll; Remedifl:. F.xcepf a'i pro,.ided in pardgraph 17 hereof, upon Borrower's breach of any ('o\'enant or
<br />agreement of Borrower in this Mortgage, including the co'-ellants to p:1~ wht:n due ..'uy sums secured bJ this Mortgage.
<br />Lender prior to aeceleration shall mail notice to Borrower as pro...ided in paragraph L4 hereof specif).ing: (1) (he breach;
<br />(2) thl! action requiud to cure such breach; tJ) a date. nol less than 30 da.lS from thl' date the notit,.t~ is mailed to Borrower.
<br />b). which such breach must be cured; and (4) that failure to (ure such breach on or before the date specified in the notice
<br />ml)' resulr in acceleration of the SUlt1~ secured b)' this \fortt:U2e. fore-dustin' h", judidal proceeding and sale or the Ilropcrt)'.
<br />The: notiCf man further inform Borrowt'f of the ri.:hl to <<,instate after lu.'t'l'leration aud the riuht to us-!sert in the roredo~mre
<br />proceeding the non.u.lstence of a ddault or an,)' other ctt'fcnse of Borrower to acceleration and forcdn..'iure. U th~ breut'h
<br />is not CUR'_d on Of before the dat\' 'ipedfied in the noth.'c. Lender at Lc-ndt.'r'!; optiun OlD.) dedarc all of the .llums s-~('ured b~'
<br />,his Morta.q," to be immediatel" due aud payable ~ifhout furton demand and nUll furc('hJ\c by judicial proceeding. L..'uder
<br />\hall M endtled .u ..\olle'~t in such pro4'<<ding alll'xpt'll:r;:r... of forcdm:\ire. in~.'hldinN:. but not Un_ited '0, (~osh of dm'um\'uhar.)
<br />e\:'iden(...~ aho..trau..ts: and Ilde rtport~.
<br />19. Borr-ower'~ Richt to Reinstate. Nl.)[\\-ithst;jllljln~ I.l:.'ndn'~ ,1<:.:dcnHhlH (\1 the '-11m:.. "c,,:urt'O b~ thi.... 't\ll'tgagl',
<br />BQf.w,".cr ~han hav~ the righl to ha\'t.:' any pnxcediug.<,. hcgun h~' I t;'ildc-r tn l.:nfl.'{I.'(~ lh,:. ~h'n~'lgi.' \!i,,;';l)lltil\lh:d .it lln~ tone
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