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<br />84- 005425
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<br />f _t:lHh.:r\ \Hllkfl agreement or appiicahie law. Borrower shaH pay [he amount of ail mortgage insurance premiums in the
<br />manner providcJ under paragraph 2 h\,-reof.
<br />,"ny amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon, shaJl hecorr,e additional
<br />:nckbtc-dmss of Borrower .secured by ~his Mortgage. Unless Borrower and I~ender agree to' other tenns of payment. such
<br />amounts ,hall he pavable 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 principal under the Note unless paytnentof
<br />interest at such ratc would be contrary to applicable law, ill which event such amounts shall beaT interest at the highest Tate
<br />permissible under applicable law, Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. !:;g~~tlim. Lender may make or cause to he made reasonable entries upon and inspections of the PropertY; provided
<br />thot 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, inconnection'with"any,
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnatioll. are hereby:assigned
<br />:md shajj l>c paid to Lender.
<br />In the event of it total taking of the Property, the proceeds shall be applied to lhesums secured by this Mortgage;'
<br />I...ith the excC'''s. if any. paid h' Borrnwer. In the event of a partiai taking of the Property. unless 'Borrower and -Lender
<br />,'therwise agrce in writing, there shall he applied to the sums secured by this Mortgage such proporlionofthe,proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the dateot,'
<br />taking bears to the fair market value of the Properl\' immediately prior to the dale of taking, with the ballinceofthel'roceedS'
<br />paid to Borrower.
<br />Tf the Properlv is abandoned bv Borrower. or if. after notice hv Lender to Borrower that the condemnor offen to mate
<br />"n award or settle 'a claim for damages. Borrower fails to respond' to Lender within 30 days aftet' the date such notiee is
<br />mailed. Lendcr is authorized to collect and apply the proceeds, at Lender's option. either to restoration or repair of the'
<br />Property or t(\ the sums secured hy this Mortgage.
<br />Unless Lender and Borrower other.vise agree in writing. any such application of proceeds to prinCipal shaU-n()t extend' .
<br />or postpone lhe due dale of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />"uen installments.
<br />to, Borrower Not Released. Extension of the time for pavment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Bor:,-, \.~r shall not operate to release~ in any manner.
<br />the !iability l)f the original Borrower and Borrower's successor",:: : ',"{'C';:''''- tender ~~ ."'.1 not be required to commence
<br />PH}'~ccJin.t;~ ...gJ.insi :-licn succeSSOr or refuse 10 eX1enct iim~ for - :'H..nt or otherwise modify amortization of the sums
<br />sccun.:d by this 'Mortgage hy reason of ;tny demand made by the original Borrower and Borrower's successors in interest.
<br />I I. Forbearance by Lender Nol a Waiver, Any forbeacance l>y Lender in exercising any right or remedy hereur.der. or
<br />otherwise atTC'tded bv applicable law, shall not be a waiver of or preclude the exercise of any such right or. remedy,
<br />The procurement of insurance or the payment of t~r'cs or Clther liens or charges hy Lender shalt not be a waiver of Lender's
<br />right to a\.'\.'clerate the maturity l1f the indcf-,tednc"I.s secured by this Mortgage.
<br />12. Remedies Cumulative. All r~medies provided in this ~\'1ortgagc are distinct and cumulati"e to -any other right or
<br />remedy under this ~!ongagC' or affordt:d bv la\\' 0r equity. and ma!' hI.: I..'xercised concurrently, independently or successively,
<br />I 3. SU\;{.~ors and Assi2ns bound; Joint and Several I.iability: Captions. The covenants and agreements herein
<br />contained shall ~ind. and the rights hen:under shall inure to, the respective successors and assigns of Lender and Borrower~
<br />"llbjcct to the pnwi..ions of paragraph !7 here\lf. .A.lI co\-'enanl.'i and agreements of Borrower shall be joint and several.
<br />The_ captions and headmgs. t."lf th~ paragraphs t"'\[ this Mortgage are for convenience only and are not to be used to
<br />interpret or definl~ the provision~ heret.1f.
<br />14. ~otice. Ex..:ep[ for any notice required under applicable law [0 be given in another manner. (a) any notice to
<br />Borrower pro\'ided for in this. !\.!ongage shall he given by mailing sut:h notice by ccrtjfied mail addressed to Borrower at
<br />the Property Addre:-.s ()f at slIch other :.dc:hr?'';'S as BOfwwer may designate by nOlice to Lender as provided herein. and
<br />(bl any notice to Lender Shilll he g!\'Cll t'>y certified mail. return receipt requested, to lender's address stated herein or to
<br />stich other address J.S Lender may designate by notice to Borrower as provided herein. Any oOlice provided for in this
<br />~1ongage shall he deemed !o have he~n given to Borrower Dr Lender when given in the manner designated herein.
<br />IS. Uniform i\lortgage; Go\'eming Law: Se-.-erability. Thi~ form llf mortgage combines uniform covenants tor national
<br />llse and o(m-uniform C~..1\'enaiits \~'iih limiieli variauons hy jUflsdlction to constitute a uniform security instrument covering
<br />real property, This :\.fortgage shall l>e governed hv the law of the jurisdiction in which the Property is located, In the
<br />event that any provision t"'\r i.:lause ~)f this ~1ortgage ~lr the Note clmtlil.,.'ts \\.ith applicable law, such conflict shall not affect
<br />other p!",-wl~k"l~~ of !his M~)~!~;t!i:::- ~~; ~h:;:: :"J~""~;;- '.'.-rnch -.:~':.:~ h~ ~:'::;::;-: ~ff::ct ....'1th0~!t the c0nm":!!rlg p-!'ov!sion. 3~d to' th~s
<br />end the provisi,')!ls ('f the Mortg;ge <lnJ the :\t1te are declared t~) he severable.
<br />16* Borro",'er.s Copy. Borr\.)w':f :>.h<ltl be furnished a C(Hlf..,rmeu copy of the Note nnd of this Mortgage at the time
<br />\.If e;\c('ution or ~lftt"r recordation hereof.
<br />17, Transfer of th~ PrOpert)i; Assumption. 11 ail L'f any P:tfl t)f tMe Property or an interest therein is sold or transferred
<br />hy Borrow~r \\ ithol.lt Lender's prior wriuen ('l1IhClH. e'\cluding un the I.,.'rcation of a lien or encumbrance subordinate t()
<br />this Mongag..;-. (0) the ~rcati~'fI ("If il pur~h;:h\.' money <;.e\o.'urity inkresi ior hotlsehoid appliances, (c) .t transfer by devise,
<br />des~cnt Of hy t.1p-cTation of la\l, upon the death (if a joint ienant or (-0 t);1il gro.~t ~f aR~' 19t1Dthu-hl iRina,' sf .Rny reus Sf 11m;;
<br />nill' J:?1lL:l.iRiR8 [HI ptiiill tJ ,nua~ lender may. at Lender\. option. declare all the ,-sums secured by this Mortgage to be
<br />immeJiatdy du~ .Iod payable. Lcnde-f shall have \\ Jived sth.:h option to accelerate .if. prior [0 the sale or transfer. Lender
<br />and the pcrs,.Jn lo whom the Prop~rty is 10 be sold or transferred reach agreement in \\Titing that the credit of such person
<br />is satisfactury to Lender and th,ll the intercSl payable t.m the 5ums sc\.:ured by this ?\1ongagc shall be at such rate as lender
<br />shall requt.'st. If Lender has waived the (Iption to accelerate provided ill this paragraph 17, and if Borrower's successor in
<br />in~erest h....'i ;:!tl:'::ulcd it \\-flnen .lSsurnptlOo agrec,mcrll accepted in \\ riting by Lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note,
<br />If Lender exercises such option to accelerate. Lender ..hall mail Borro\\-er noti(:t:' tJf acceleration i~l accordance with
<br />paragraph i4 hereof. Such notice shaH provide ;.\ pcnod of 11;.) { less than 30 days from the date the notlce is mailed withi"
<br />which Borrower may pay the sums declared due. If Borri......l,.a fJils 10 pay su~h SUlllS prior to the cxpir.uion of such period.
<br />Lender may. withuut fm1hcr notice or demand (H1 Borrower. l!l\'oke any rt.~rncdies permitted by paragraph 18 her~of.
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<br />NON-UNIFORM COVENANTS. Borrower and Lender further C(lVenalH ;md agret: ~i$ follows:
<br />18. Acee-Ieratiun; Remedies* Except as provided in paragraph 17 hereof. upon Borroucr's breach of an,)' COl'cnant or
<br />agreement of Borrower in this !\lo~age, including the ron"nant!t to pa) when due an~ sums secured b~' this ~tortgage,
<br />Lender prior 10 acceleration shall mail notice to Borrower as pro' ided ill paragraph 14 hereof speclf)'ing: (l) lhe b~ach:
<br />(2) the ....1100 required to cure such breach; (3) a date. nol less thall 30 da)'s rrom the date the notice is mailed to Borrower,
<br />by wbkb such breach must be cured; und (4) that failure to ,,'Ufe !tuch breach on or before the date specified in the nod,,'e
<br />may result in aeceleration of the li.Unl'io lj,~'nIred hy thi\ '1ortg~e, foret'losure b~' judicial prt)(:ceding and sale of the Propert)'.
<br />The noUtt:' shall further inform Borrower of the ri~hf 10 reinshlte after acceleration and the riRhr to 1l.'iscrt in the foreclosure
<br />proceeding the non-exi.\tenn' of 8 default or an,) other defcnsl' Hf Ronowl,"r to acceleration and fureclosure. If the brtach
<br />i!li not cured on Of b(fore the date \p\~cUltd in the notke. Lcuder at Lendt'f's option fl1uJ de-flare all of the sum~ soCl'ured b)i'
<br />this ~luf'gagt' to be immediate)} dut' and pUJ'llblc \\'ithou( further demand and ma} f()redrn.t' b)' judicial pro.ct'eding. tender
<br />shan be entitie-d to ('oiled ill 'liUdl pn:,.ceeding aU ~xpenSt':'o of r()::-edH~urt', induding. but not iill1hf-d 10, ,'o~ts or do('umcnhtc)'
<br />uiden"'t'1 Qbslra~:h and tHI<' f('p-orh.
<br />19" BoHo\o\i."r~~ Right to R~in1J,hdt. ~llj\\ilh:.LlIHbllg i \:lH..kf'" ,t~,-dL'J,lIl'.lli l\j rhc ,.,:rn, \~~tllL'i.l tl\ (/1l~ \1l\ft~.lgC
<br />Horruw(<r ,hall have th\~ right t._, hd"'!; ;Iny IlJ()L'i:eding" hqp,lfl h\ '~,'nd\:"l h\ l'n!\;f~-\: ~h,,, \ll,\tg,\g~: ,h'~-~'!\\I!nl(',j .~l ,111\ \11l!(.'
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<br />NIFA 8/84
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<br />~~e.r icn ~934A
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