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<br />84- 005400
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<br />Lender's written agreement or appii('~lbie law. BOTiower shall pay the amount of an mortgage insurance pr~mil1ms in the
<br />manner provided under paragraph 2 hereof,
<br />Any amollnts disbursed by Lender pursuanl to this paragraph 7, with interest thereon, shall be'come additional
<br />indebtedness or 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 disbursemenl at the rate payahle from time 10 time on outstanding principal under the Note. uniess payment of
<br />interest at such rale would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained ;n this paragraph 7 shall r"'iuire Lender to incur any expense or talre
<br />any action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable cntrie'i upon and inspections of the Property. providctl
<br />Iha! Lender shall give Borrower notice prior to any sllch inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Cond~mnatlon. The proceeds of any award or claim for damages, direct or consequential. in connection,;wJth --3I)Y
<br />condemnation or other taking of the Property. or part thereof. or for conveyance in lieu of condemnation, are hereby assigried
<br />and shall be paid to Lender,
<br />In the event of a lotal taking or the Property. the proceeds shall be applied to the SlImS secured by this Mortgage.
<br />with the excess, if .my, paid to Borrower. In the event of a partial taking of the Property. unle.~ Borrower and..Lender
<br />otherwise agree in wriling. there shall be applied to the sums secured by this Mortgage such prnportionof the proceeds
<br />as is equal to that proporlion which the amount of the s-um~ secured by this Mortgage immediately' prior to the .date'of-
<br />taking bears to the rair market value of the Property immediately prior to the date of taking, with the halance of Ihe proceeds
<br />p2id t\l Borrower.
<br />If the Property is abandoned by Borrower, or if. arter notice hy Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages. Borrower faib to respond to Lender within 30 days after the date such notice, is
<br />mailed. Lender is authorized to collect and apply Ihe proceeds. at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured h~, this !\fortgage.
<br />Unless Lender and Borrower othef\....isc agree in \\-'riting, any such application of proceeds to principal shall. not exten~
<br />or postpone the due date of the monthly installments referred to in par<<graphs I and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the rime for payment or modification of amortization of the sums secured
<br />by this Mortgage granted t-ry Lender to any slIccessor in interest of ~~""'!TOWer shalt not operate to release. in any manner'l
<br />the liability of the original Borrower Jnd Borrower\; ~;"!cl.,'cs",; ',' t' 'terest, lel'i(I,:'- :;hall not be required to commence
<br />proceedings against 'illch successor ni refus~ to ('xtend ~imi: pa~'ment or vtherwi"e modify amortization of the sums
<br /><;ccured by ,his I-rlt..)ngagc hy reason i..}f ,..ry d(,i''l13nd mude ~\' p~f:" 0rigina! Borrower and Borrower's successors in interest~
<br />11. Forbearance by L-ender- Not a wail-era .~nv {1,ldlC.tf.iHi":~ hy L::;~;:kr in ~xe:ds!ng ;}~y right or remedy hereunder. or
<br />t'thern'ise atforded hv applkable law, shall not he a waiver of or rrccJude the exercise of any such right or remedy.
<br />The procurement t")f insurance or the payment of taxc.. or {'ther liclls \.x charges hy Lender shall not he a waiver of Lender's
<br />right ti.l ac"ele-rare- rhe maturity of the inde:htednc:-.s <"cl'tm:J by thio; tVfortgagc,
<br />12. Remedies Cumulative. :\11 remedies provid..:d in thi~ Mortgage are distinct and cumulative to any other right or
<br />rcmcJy LInder this Mt)rlgag~ t'f afforded h\' I::lW t'r ('quit\', and ma~' he exercised concurrently. independently or successively,
<br />13, SIJC~essors and Assijtns Bound; Joint and Se'..",l Liability; Captions, The covenants and agreements herein
<br />,:onlained ~haH hind, :lOd the rights hereunder shall inure It', the respective successors and assigns of Lender and Borrower.
<br />subject to lhe provisions of paragraph!'" hereof. All c,we-n~tms and agreements of Borrower shall he joint and several.
<br />The C'aptions and headings llf the parag.raphs (..I' thi-s I\'lnrtgage arc for conveni~nce only and are not to be used to
<br />interpret or define the pr\.wisiLms hereof.
<br />14. 'Sotice. Excepf for any notil.'c rcyuired unJcr applicable law 10 be given in another manner. (a) any notice to
<br />Borf\)wer pr\.'1vjd~d fl.')r Hl thi~ !\toftga!!.c shat! h~ given hy mailing -.:;ut:h notice hy i.:ertified mail addressed to Borrower at
<br />the Property Addres... ,)r ;H SUL:h 1.'1~her .tddn.~.., ,1S BorrO\\'cr ma\" designate by nNice t(1 Lender as provided herein. and
<br />(b) any notice to Lender shaH be gi\en h~ ct.:fttfjed m~1il. return rc\"cipt requested, to Lendcr"s adJress stated herein or to
<br />s.uch pther address 3S Lender m~(y dc-signate t.~. nut ice: h~ Bornw.-er as provided herein. Any notice provided for in this
<br />~ft..'1ngag~ shall he deemed lI..' have been gi\cn tl\ 801 r(lW~r or lender \\-'hen given in the manner designated herein,
<br />IS. Vniiorm ~1ortgag.e: Governing I.a": Se,..erahilir}.'. This f;,lrm t)j" mortgage l'ombines uniform covenants for national
<br />ll~ ~lnd nvn~unifornl (,"'lVenanls \.. ith limited V;H iatil'ns hy ,i uri,di...~tion (0 l:l.)ns.tiultc a uniform security instrument covering
<br />real pn.1r-rty. Thi" M..lngJg~ ,h~--lH he gl'\trncd tn.. {hi.: b\\ ~..f the juri"Jictif1n in which the Property is k1C8ted. In the
<br />event lh~'H any rft,,'\'Is.JOIl llf clause ..If thi... Mortgage ,lr [he N't)lt.' ..:nlll1ict:. v. ith applicahle law, sHch contliel shall nO{ affect
<br />\)ther rr'.Y\'I~i()n~ ,,)f th" \h'litgiigi.' llf the ~llk \\I1ll.,:h \,:.tll hI..:' ~lvcn L'IT~Cl wilhow the conflicting provision, and to this
<br />('nd [he rn\vis.if'o... ,If the \iongag~ and thl,.' '\)tl.,~ ,m: dcd~lrcd 1<' he :<O;I,."Vt::1 abic,
<br />16. Borro"t:<c's Cop~'. Borro\\l.."f "hall ~c fUflW,hc-d a Cf1ntl'lrrnco (()py l\f the Note and of this ~fortgagc at the time
<br />l,r c~t.'..'ution ..)[ ~tftcr rl.,'~t')rd~Hll.n herellf.
<br />17. Tnms!u of the PropertJ: A!J.SUfuption. If ~di llf <lilY p:ut ;,)f the Propary or an interest therein is sold or transferred
<br />hy Borrll\\'cr \lithl)Ul I endt.'!"" prine \\fitt\:n ,:I)lbClll. <.'.\..:luding LlI fh~ IT''':i.llit)n l)f a li~11 ,1r encumbrance suht)rdinatc if'
<br />lhl" Mt.'ngagc, d" the ,,'ft..'atIOI1 \'1' ;1 pUrl.'h.iW llh)Ot.'Y ...l'....u!'ir~ mtl'n.~"l (llf h0us~hold ~ippliafl"'-:c$, (....:) a transf~r by devise,
<br />Jcs-I,,':cnt ;,If hy i,)pt.'ration l)1 1{1\\ UPI.\ll the death "f ,\ ~,'1H\l It.'lhl.lll nr ;,!\ thl: gr;lnt l,r :.In:. ICJsehold interest of three years. or ]cs...,
<br />lH..H .:ont<lining ~H l'pli,m h.' pur..:hasc. i .cnUt:T l1)a~, .It I L'lldl'r'.. ,'pli\,n, dc('bre ~lll the ..urn.. sc\..'urcd hy this Mortgage h.' be
<br />immcdi~It('I~' du.... ,lnd payable. l.t'nd~r "h<-lll hJ\'~ \\<li\l'd ..u.::h ,)pti,'I1 [,1 ,h::o.:l'lcratl: :L prior tl) the s~t1e or transfer, Lender
<br />;lnJ the pt.'-r::;'l.1n t,,) \'I..hom !he pfi.)p~rty i... h\ b-e "1.'IJ (1, tr~m,h:rrl.'d n:a...;h .l.;.:r~;,;m~nt In \\ riting th~tt the credit of such person
<br />h s~ltisfa(t\..'r;. hI I enJa ~l!ld lha; the intcn':'ll jl~l~,lblt:" ~'n lh~ sum.. \L'('urcd by this !\1ortgagc sh~lI /:lc at su..:h rate as. Lender
<br />sh.lll n::4ucsL If i end,,!, na.\ v.al\'t:J the l'PW.JO tn ,lI:..:ch:r.Jll' prl.hllkJ tt! thl:" p:l.l'agraph 17. and if Borrower's su..:ccssor in
<br />lntercst ha<:> C\.c-..:uko ,1 \Hiu~n .n;'~llmplion agrccmcr.l dl."-':I."f'I('J: in \1. riting hy I ~ndl"r, Lender 'Ihali release Borr()\I,:cr from all
<br />,)oligations under thL', Mortgage and the ~ote.
<br />If tende! c.\cr.....isc:o, .;u;;:h l)ption to ih::~t.'kr.tt.:. i t:nd.:r -.fl,di m;1!l Ell! [ll,..,t.:r n,:',l.;':"-: ,if a;.:;;.;C'k~~uilln !!1 ,~l..;;...'rd.:H'cC with
<br />p..tragraph 14 herc()f. Such notice "hali pr\.wiJe ,1 pt.'ll(~d {If llt>[ it's." than 30 d<l~'< !rt'm the UJh': the l1~,tk(' i" mailed within
<br />\\hich Bt)rnmer may ray 1h~ sums dcdJ:rcJ Uil..' , If Bnn~)\~l.'; i..ul" !,' [1;l~ ~:!<.:h '<llllh prinr h.. the "'-'pirati\l!l I~f SllC!: period.
<br />LenJa md], withlHlt furtnt::r n("t!..:-c c,.- dl;';mand ,1;1 HprrI.1\.l,n, :'1\,'J...c .iny [L'mt'Jie~ j't'rmt!ic..J by f...;tra.!;r~lph IS hat:L)L
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<br />NO:-.;.U;o..<IFGR~1 ('OVtS-\Sl-S Borro\\cr ,l.I1J I.~nda tUflhcr ";li\t'O.1fH ;lnd ,1~rCt';h f..)lltW,:s.
<br />18. i\c~eleral.ion: Rellledie~. E\.ct'pt as pro\'ided in para~r;'iph 17 hereof, upon Ddrru"'t'r'\i breath of an~ t,'O\'CIUlllt or
<br />acne-hii'll. of Borro\\-cr in fhi., MortJ;:.~l~. iU4..'ludiu~ iht' ('tH !"uauh to pa~ \\ bt.'Jl tiue an~ ',um~ s..'t'ured b,\ this :\1ortga~t.".
<br />l..ender poor to acceleration !lhall ma~1 notit'c h) ROrW"l'C a' put\idl-d in paru~raph 14 ht.~reof spt'{'it)j"R~ OJ the bre~u:h;
<br />(2) the Mtron f'etjuiR'd to cure such bu'al..'h; ell a dale, JlfJI Il.!lt.... than .\0 da,p~ (WJ1I the dall' Ihe- noth.:e IIrr; maiied hJ 14orrO\'i'cr.
<br />bi ,,'hich \lK'h breach must be t'uft'd: and (4) thaI faHuet: to fUfl' "'Ul.'h hn'al'h \H1 or ~f(ln' th~ dale ~pt'dticd in thl' notiet.'
<br />rn3,} rtsult in ac,','t'leration of th{' :\11111\ ,,\'{'uft:-d b~ thi~ \'urt~ace. rorfdu~ur~ h\ judidal pn.h:l'l'din~ and ,ale of th..~ l)fOpt"rt~.,
<br />Th... nOl.i,'C' s.haU further inform Borrn," t"f uf 'he r~ht r" n?iU,iatt" after ~H'\'d(,fatiun und the right tn u"\st"11 in the fnn'dusut'C
<br />proc<<dilllc the- nOlH,'xi,tenct" uf 4i: default or an) (ltfter ddt'n..;{' (11' BUrfO\'~r lu i.1(("dl'rafiun and furn'lo~ur(', If tht., brt'adl
<br />''S om cured 01\ or bt-rOh' the date -'\~dlit-od in the uHlkt', f.t'ndl"r ~t I.cnd~r\ option lU~\! d~durl' ult of the I,mn~ "('4.'ured b.\
<br />th&. \-turtlace'o be Jf11nlt'diatd)' dm.- and pu-:-abtc "ithuut further dt'fUand and ma~ fn,~.'dn"'" i)~ Judidul Vwt.'l'\'(Hn~, 1.emlt'l
<br />;ball bt ~tltUlt!d lu ('oUE"-d io \u\'h pro~"('t'din.c ~dl t'lI.Pt'H\t''\ of fnrt'i.:io'>HtL i-n.dudillf.:, hul (wt filuit('J: tHo l'o.'\I.~ nf dm':UIHl'nhn)
<br />,,\ i4HtR't', abltr-:IA,t" M.fid litlt' report\...
<br />19. Borro",.C'-r'... Richt to Rfin~taf~, 0.;~'f\~lth'!t!,ln.iin~ 1 ,':~\.,h:: ~ ,-d'.'l,I1!,
<br />U\.,..it>"';{"f \h,.n hilve ihl" right f,' h,j,..t Mh f'H)-(l,:nbn~:'~
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