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<br />84,----- 004747
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<br />LClHkr\ \\nlld1 agreement or applil.:ablc Jaw. Horrower shall pay the amount of all mOltgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />A.ny amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional
<br />indebtedness of Borrower secured by ~his Mortgage. Unless Borrower and Lender agree to- other terms of payment. such
<br />amounts s.h<lll he payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from the
<br />date of disbursement at lhe rate payable from time to time on outstanding principal under the Note uniess payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shan bear interest at the highest rate
<br />permissible under applicable- law. Nothing contained in this paragraph 7 shall require Lender 10 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 such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any
<br />condemnation or other taking of the Property, ('Ir part thereof, or for conveyance in lieu of condemnation. are hereby assigned
<br />;Ind shall he paid to Lender.
<br />Tn the evenr of a total taking of the Property, the proceeds shall be applied to the sums secuTed by this Mortgage.
<br />with the exce~s, if any. paid h") Borrower. In the event of a partial taking of the Property. un1e.l)s Borrower and Lender
<br />otherwise agree in writing. there shall he applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as i<; equal to that pr0pot1ion which the amount of the sums secured hy this Mortgage immediately prior to the date of
<br />taking bear" to the fair market value of the Property immediately prior to the date of faking. with the balance of the proceeds
<br />raid to Borrower.
<br />If the Property i<; abandoned hy Borrower. or if. after notice hy Lender to Borrower that the condemnor offers to make
<br />an award or settle i1 claim for damages. Borrower fails to rc~pond to Lender within 30 days after the date such notice is
<br />mailed, Lcnd-.:r is authorized to collect and apply the proceeds. at Lender's option. either to restoration or repair of the
<br />Property or to the sums secllred hy this Mortgage.
<br />Ulllcs'i Lender and Borr~,wer otherwise agree in writing, any sllch application of proceeds to principal shan not extend
<br />or postponc ihe due dale of the monrhly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />'>lIch installments.
<br />10. Borrower Not Released. Extcnsion of the time for payment or r. dificatlon of amortization of th~ sums secured
<br />by this Mortgage granted by Lender to any successor in interest of 'Borr0- ~hall no~ operate to release, in any manner,
<br />the liability of the original Borrower and Borrower'.:; sw;cessor<;, len..:..,l. Lender shall not be required to commence
<br />procceJings against <;uch Sllccessor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage hy reasor. of any demand made by the original Borrower and Borrower's sllccessors in interest.
<br />11. Forbearance by Lcnder Not a Wah'er. Any fornearance hy Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded hy applicahle law. shall not he a waiver of or preciude the exercise of an} such right or remedy.
<br />The procurement of insurance or the pavment of ta'i:CS or other liens or charges hy Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the imlehtcdne'>s "'cclln~J hy thi~ Mortgage.
<br />12. Remedies Cumulative. All remedies provided ill Ihis Mortgage arc distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may he exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound: Joint and Several LiabiliQ'; Captions, The covenants and agreements herein
<br />contained shall hind. and the rights hereunder shall inure to. the respective sllccessors and assigns of Lender and Borrower,
<br /><;ubject to the provisions of paragraph 17 hereof. All covenanis 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 />interprel or define the provi<;ion.. hereof.
<br />14. Notice. Except 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 such notice by certified mail addressed to Borrower at
<br />the Propeny Address or at stich other addrcs~ as Borro\',.'er may designate by notice to Lender as provided herein. and
<br />(b) any notice to Lender shall he given hy certifieu mail. rerum receipt requested. to Lender's address stated herein or to
<br />stich olhcr address as Lender may designate hy notice to Borwwer as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed ro have been given to Borrower or Lender when given in the manner designated herein.
<br />IS. Uniform J\lortgage; Gmrerning Law: Severability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations hy jurisdiction to cons.titute a uniform security instrument covering
<br />real property. This Mortgage ,hall be governed hy the Jaw of the jurisdiction in which the Property is located. In the
<br />event that any provisil"'ln or clause of thi" Mortgage or the Note contlicts with applicable law, such conflict shall not affect
<br />other pnwisions of this Mortgage or [he NNe which can be given effect without the conflicting provision, and to this
<br />end the provision.. of the Mortgage and the Nl'te are declared to be severable.
<br />16. Borrower's COP)'. Borrower shall be furnished a cl1nformed copy of the Note and of this Mortgage at the time
<br />of execution 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 transferred
<br />by Borrower without Lender's prior wrillen consent. exduding (al the creation of a lien or encllmbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest f0r household appliances, (c) a transfer by devise.
<br />descent or by operation of lav. upon the Jeath of a jl)int tenant or LP tRk! graRt ef ',Hl~' 11Jl1f1\l~rrJ..l iAteU!lt 9f tRnu :'9aFfl or hIJG
<br />p,:,t lJ'J"AtriR'Ag tlR ITlltiijR tiT r'ro-Rtlli'il Lender may. at l.ender's option. declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived sLlch option to accelerate if, prior to the sale or transfer. Lender
<br />and the person to whom the Property i.. 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 Sllm~ secured hy this Mortgage shall be at slleh 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 Lender. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Notc.
<br />If Lender exercises such option to accelerate, Lemler <;;hall mail Borrower notice of acceleralion in accordance with
<br />paragraph 14 hereof. Such notice "hall pwvide it period of not less than ~o days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borro\',er fails ro pay such sums prior to the expiration of slIch period,
<br />Lender may, without further notice or demand on Bo:-rower. invoke any remedies permitted hy paragraph 18 hereof.
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<br />NON-UNIFORM COVEN^l'oiTS. Borrower :1nd Lender further covenant and agree as follows:
<br />18. Acceleration: Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any cmrenant or
<br />agreement of Borrower in this Mortgage, including the cow~nants to Ilay when due an.y sums secured by this Mortgage.
<br />Lender prior to acceleration shan mail notice to Borrower as pro\-.idcd in para~raph 14 hereof specifying: (1) the breach:
<br />(2) the action required to cure such breach; (3) a date. not les.<lJ than 30 days from the date the notice is mailed to Borrower,
<br />by which such breach must be cured; and (4) that failure to ('ure such breach on or before the date specified in the notice
<br />may result in acctleration of the sunL~ secured b,y this Mortga~e. foreclosure by judicial prol'ccding and sale of the Property.
<br />The notice shall further inform Botrowf.'r of the ri~ht 10 reinstate after aneleration and the ri2ht to assert in the foreclosure
<br />proceeding the non~existence of a default or any other defense of Borruwer (0 acceleratioH and fnrecIosure. If th(' hreach
<br />i\> Rot cured on or ~fore the date specified in the notice. Lt'nder at Lender's option l1la) dcdarc nil of the sums secured by
<br />this J\.lortgillge to be !nunediate')' due and pa)"uble without further demand and mal forct:lose by .,udicial proceeding. Lender
<br />shall be entitled to ('ollet.:1 in such prOl'fcdinK aU expenses (If forcdnsure, indlldin~. hut n01 limited to, costs uf docmnenhlf}
<br />cvideu('l'. abs1racts and fillt." fe-porth.
<br />19. Borrower's R;ght to Rdn.stah'. SOI\\-Hhs.t;\ndlng I t"lIJt:'f'<" ,h.~dL'fa(;"" d lhc <,unb "t',-.un:d b} (hi:. M(\;I}~;.I.gt'
<br />HOffO'.\it;r ...hall havt;' lnt: light 10 have ,tll} PI"cl.-'cdHlg.. hqpoo h~ I .:odcl l,i ,'nh'h., ,hi'" \i,lrlg,q;t.' .ii..,:.'lllllHlt'd ,J! dO\ 11l1h'
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<br />NIFA 8/84
<br />Series 1984A
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