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<br />34 --" 0045<17
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<br />Lender's wntl..:n agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in- the
<br />manner provided under paragraph 2 hereof.
<br />Any amollnts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indehtedness of Borrower secured by ~his Mortgage. Unless Borrower and lender-agree to-ottter terms-of payment~- such
<br />amounts shall be payable upon notice from Lender to -Borrower requesting 'payment thereof~ ~nd shan bear-interest:froln,:the
<br />date of disbursement at the ratc payable from time to time on outstanding principal under-the'.Note-:lJnless-,-p~yme:ntd)f:'
<br />interest at such ratc would be contrary to applicable law. in which event such amounts shall bear ,intereSt ,at.the-,_highe:$t'ra(e:-::.,
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall -require Lender to incut-any.:expenSe:'rir~'t8ke
<br />nny action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and:inspections'of the-.Propertyi-!provi~eQ:;
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable caHse ,therefor- re1.ated;.to"-Y"end~fs^
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages~ direct or consequential.. in corinection:-'with->an_y~;
<br />condemnation or other taking of the Property. or part thereof; or for conveyance in lieu of condemnati~n. are:h~re1Jy-_assigjled
<br />;:md shall he paid to Lender.
<br />In the event of it total laking of the Property, the proceeds shall be applied to- the sums secl1re~ ':by::~'thi!;'.Mortgage;
<br />with the exec"s. if any. paid w Borwwer. 1n the event of a partial taking of the Property,__unless"B~r~wer and::-Le~der
<br />otherwise agree in writing. there sh.nll he applied to the sums secured bv this Mortgage such proportion .'of ,-the_'.proCe~s
<br />as is eqll~ll to that proportion which the amount of the sums secured by this Mortgage, immediately-'prior-.-to- the:'date:,--of
<br />taking bems to the fair market value of the Property immediately prior to the date of taking. with the balance. of-the:-proceed$
<br />raid t(l Borrower.
<br />If the Property is abandoned by Borrower. or if. after notice oy I_eoder to Borrower that the condemnor offers}o':i~~.~e
<br />an award or seuJc a claim fOT damages, Borrower fails to respond to Lender within 30 days after the date such-- notice, is
<br />mailed, Lender is allthorizcd to collect and apply the proceeds. at Lender's option; either to restoration or -repair- of AM
<br />Propert\' or to the slims secured hy this Mortgage.
<br />Uniess Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall.not-extend"
<br />or postpone the due date of the monthly installments referred to ir.: paragraphr- i and 2 hereof or change the- amount 'of
<br /><;llch installments.
<br />10. Borrower Not Released. Extension of the time for payment'. ~lodii__ation of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of BOlTower shall not operate to release. in _any manner,
<br />the liabiliiY t..f th~ t.)riglii&.l HOllower ,UHj Borrower's successors in interest. Lender shaH not be required to commence
<br />proceedings against sllch "t1ccessor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by lhis Mortgage by reason of ;lny demand made by the original Bonower and Borrower's sllccessors in interest.
<br />11. Forbearance by I.-endcr Not a Waiver. Any forbearance by lender in exercising any right or remedy hereunder. or
<br />otherwise atTordcd hy applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement 0f insurance or thc payment (If ta\:cs or other liens or charges by I.ender shall not be a waiver of Lender's
<br />right to accelerate the maturity of thl~ indehtcdnc"Os s~curcu by this Mortgage.
<br />12. Remedies Cumulative. -\11 remedies providcd in this Mortgage are distinct and cumulative to n..y other right or
<br />remedy under this MongagL' or afforded hy Illw or c4uity. and Oluf he L'\erclsed concurrently. independently or successively.
<br />13. Successors and Ass~ns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall hind. ilnd the rights hereunder shaH inure to. the respective successors and assigns of lender and Borrower,
<br />,\lIbje..:t to in;: provisions of paragraph 17 hereof. All covenants and agrcemcIHs of Borrower shalt be joint and several.
<br />The captions and headings of the paragraph" of this Mortgagt' are f0r convenience only and are not to be used to
<br />interpret or define the provision,,- he-rel.'lL
<br />14.. Notice. Excepf for any notice required under applicable la\\' tlJ- be givcn in another manner. (a) any notice to
<br />Borrower provided for in this !\rtortgage shall he given by mailing "-uch nuticc by certified mail addressed to Borrower at
<br />the Pro~rty Addre<;:- or at such otter address as B('rrower Oli\Y deSignate by noi'ke to Lender as provided herein. and
<br />(b) any notie\:": io l.ender shaH be g!\"l':n hy ::ertified mail. re!urn receipt n:quesled. to Lender's address stated herein or to
<br />sllch other addres... ,IS Lt.~nder may designate DV nl'ticc tn Borrfiwer as provided herein. Any notice provided for in this
<br />Mortgage shall he deemed to have heen given to Borrower or Lender when given in (he manner designated herein.
<br />IS. Uniform l\tortgag~; GO\'eming law; Se\.erability. This (('lro\ of mortgage ,:ombines uniform covenants for national
<br />use and non-uniform covenants. \~ ith limile,-} variations hy jurlsdicti\)(\ to constitute a uniform security instrument covering
<br />real property. Thi!\ Mortgag.e shall be governed by the law t,f the jurisdiction in which the Property is located. In the
<br />event thai any pf\wisil'1l t~r dillh!: (If tl)!" MLu1gage ('r the Note conHkts \\'ith applicable law. sllch conflict shall not affect
<br />other provision, l)f tIll:>> Morrg<tgc \)f lh~ NOh: Whll.h ..:an hl' gwcn effect without the conflicting provis.ion. and to this
<br />end the provisions pi the Mortgage and the Nl)1C .He declan:d to he ~cvcf'able.
<br />16. Borrower's Copy. Bonowcr sh..tll he furnished a l'onformcd copy of the Note and of (his Mortgage at the time
<br />\,)f ex.ecution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all t.'r <tny part \)f the Property or an interest therein is sold or transferred
<br />by BOrh'l\4.t:'r without Lender's prior written ;..on':\cnL tx~~hlding (~.l) the creation \.)f a lien or encumbrance subordinate to
<br />this Mortgage. ~h) the ~fcation or a pur..:ha~c money <;t:'Lurity interest for hOllSChl"ild appliances, (c) a transfer hy devise.
<br />descent or by operation of Ill\\ upon the death t'( a jOint tenant or (~) tiu 8HU" af QR:' l'll~lllttilli iRhJrlUt gf tAne )'1JIU'Q SF 1&16&
<br />'i'lUi i)1JRtai~;~~ fill l1,t;[lR IIll p mWIll. lender may, at Lender's l!ption. dedare an the..sums secured by this Mortg~ge to be
<br />immediately due and payable. I.ender s.halt have 'A-aived su..:h Optiol! to ,ap~ler~te ...if,' prior to the s.ale or transfer. Lender
<br />and the person tl'l whom the. Property i:. to he sold or transit.'H('d reach '.agceemefl( in writing that the o:redit of such person
<br />is. satisJact.\."Iry to l.ender .tnd Ib.lt the intcre~t payahk t.'fl the Slims ~cHre_4.h~ this. Mortgage shall ,be at slIdl rate as Lender
<br />s.hall requcst. If Lender has wai\ed the opllon 10 accdcr.lll.' provided in this paragraph 17. and If Bmrower's successor in
<br />interest has. exe.~uted a written assUluption agreement a~cepled in \\riling by LenJer. Lender shall release Borrower from an
<br />obligations uoJer this Mortgage and the Note.
<br />If Lende,r e,x.eri.'is.e.s such ~'plion to accclcr~ttl.'. tcnJcr shall mail BOfll)\\,cr nolle(- of a..:-ccleration in 3l.:cordance with
<br />paragraph 14 hereof. Such noticc shaH provide ;l period 0f I1ll{ less than :\0 day-s from the date the nnlice i-; mailed within
<br />which Borrm-\'cr may pay the :s.ums ded~trcd due. If Borro\\cr f.li!s to pay sll~h slims prior t(\ the expiration {)f s.uch pt..rind,
<br />Lender may. with1..1UI further notice or demand on Borrowcr, 111\'OkC any n.?mcd.i"~s pcrnlllteJ hy paragr"-\ph I S hereof.
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<br />NON.lJNlfORM COVENANTS. Borr\.,wer and I.ender further ~(1\"~na\l! and <1grct.' a... i\)lI(...w~
<br />It;L Acceleration; Remedies. E~('ept Us providt'd in panlJ.l,caph 17 heel'of. upon Borrower's hreach of an)' co,.enant or
<br />agreement of Borrower in this Mort~age, including the ('U'H'uanb 10 pal when due an~ sums sfcurtd by this Mortg~e,
<br />Leader prior to acceleration shall mail notict' to BOfro\'\"cr as pro\ided in paraa.fllph 14 hereof' spcdfliuM;: (l) the bn8ch:
<br />(2) tbe II('tlon nqulnd to cure- such breach; (3') a date, not Je~ than JU da,--s from the date th~ notice L' mailed to Borro",er~
<br />b). which such breach must be f.'ured; and (oI) thut failure to cure !!l.\tch brea....h on or before the date specified in the notice
<br />may result in .<<ele-ration of lhl: sum\ M'('urtd b.) lhi" '-1urtgaKe, fOl.e~:~lusurf b) judicial procl'ettinu and sale of the Propert)..
<br />~ notice shan further inform Borrower of the right hl rehu,tatc ufte-r 8c'celeration and Ihe riJtht to a.'..."icn in Ihe foreclosure
<br />pl'oc"dlng the non~existenu of at default or anJ nthtr defen!<oc of Borrower to. a.\.'ctlt'fution and fondosuft'. If the brcal'h
<br />is not cured on o-r bdo~ tilt:' date ~pe-dlied in the noriel', l.-ender at l.t>ndet.!l; option mill' de-dare aU of the sums St.t.'ured h)-,
<br />this ~tortgace to he imm...diatt.....l due and paJ8bl~ ~ithout flu.,hcr demand and ma) fnrt'd~l' b) judidal proceeding. Lender
<br />~han br -eRntled to ,:oll..ct il\ SUi..'h profeNlinK aU e'Xpt'n~h of fhUdosuft', indudlng, but no' limitll'd to, nJst\ of documcnlUrj
<br />t\'idell(t'. IIbstnli'ts ilnd tith.. ftport~.
<br />.9. Borrower's Right to Reinstate. Notwi~h...l,wd1Hg l.::ndt';\ ,u.u:kr.lll<\!i (.f lht> '.\!III". '\l'l\llt'~i t'\' !11I', Mtli{~;\~t'
<br />~)HOUTf ~h.;,~fl h;p,t, the dgh~ In h:l'lit.' ,!t'!; prl_1Cj't~di!l~:" ht"t!un h\ f <,'H':.kl 1" ,'nhH,__c !hl:" _\.!f>dg.:!ii'-' db~-,-m!\!H:,:-d .,: ,111.\ "...,
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<br />NIFA 8j84
<br />Seriet~ 1984;\
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