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<br />84 - 005615
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<br />Lender"s written agreement or applicable law. Borrower shalt pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof,
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional
<br />indebtedness of Borrower secured b) this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be paya.b!e upon notice from Lender to Barwwer reque!1ting payment thereof. and shall hear iHterest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate 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 in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder,
<br />8. Insp<<tion. 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 stich 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, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the even! of a total taking of the Property, the proceeds shaH be applied to the sums secured by this Mortgage~
<br />with the excess, ir any, paid to Borrower. In the event of a partial taking or the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this l'..1'ortgage stich proportion of the proceeds
<br />as is equal to that proportion which the amount of the slims secured by this Mortgage 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 or 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 to respond to Lender within 30 days after the date such notice is
<br />mailed, Lender 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 secured by this Mortgage.
<br />Unless 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 in paragraphs 1 and Z hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner.
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against stich successor or refuse to extend time for p.!'. .....t or otherwise modify amortization of the sums
<br />secuied by this Mortgage by n:ason of any demand m~d~: by i:h..:. "..; ,,:1 Borrower ~: i Borrower's successors in interest.
<br />11. Forbearance by Lender Not a lVaher. Anv forheararH "lY u~nder in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law. shall nOl be a waiver or or preclude the exercise of any such right or remedy.
<br />The procurement of insurance 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 indehtedness s.ecured hy this Mortgage.
<br />12. Remedies Cumulalin. All remedies provided il1 this Mor:gage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded-by law (l[ equity. and may he exercised concurrently, independently or successively,
<br />13, Successors and Assigns Bound:. Joint and Sevcral Liabilily; Captions. The covenants and agreements herein
<br />contained shaH hind. and the rights hereunder shall inure to, the res.pective slIccessors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. All covenants 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, Noliee, Except for any notice'required under "pplic"ble law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage. shall be given by ,""iling such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other- address as Borrower may designate by notice to Lender as provided herein. and
<br />(b) any notice to Lender shall be given hy certified mail. return receipt requested, to Lender's addres+..; stated herein or to
<br />slIch other address as Lender nuy designate by notice to Borrower as provided herein, Any notice provided for in this
<br />Mortgage shall ~ deem~d to have be~n given to Borrower (lr Lender when given in the manner designated herejn~
<br />15. Uniform MOn23Ke; Governing Law; Se".erabilit)'. This f('1rm of mortgage combines uniform covenants for national
<br />lIS~ and non-uniform co\'enants \"ith lim.ilco variatiuns hy jlllisdii.:lil.lO to constitute a uniform securilY in:strumem covering
<br />real propert\', This Mortgage shall be g<lvorned by the low 0f the jurisdiction in which the Property is loc.ted, In the
<br />event that any prOVision or clause of this Mortgage ~~r !he Note c(~nfHcts with applicable law, such conflict shaH not affect
<br />other provisions of this !\-1ortgage or the :'\f('1te \\'hidl can he given effect withoUl the conflicting provision, and to this
<br />end the prt)visions of the Mortgage and the Note are declared t('l \"Ie severable.
<br />16e Borro~er~s Cop,)". Borr('1wer shall be fllrni~hed a c~lIlformed copy of the NOte and of this 1',.foitgage at the time
<br />c~f es.ecmion or ~iiter rl'i..',)fdath..1n hereof.
<br />17. Transfer of Ihe Propert)': Assumption, if all <'r any part of the Property 01' an interest therein is sold or transferred
<br />hy BOrrl.lw....r \\irhoUl Lt:'l1der's priLlf \HillL~n ":Olbenl. e.xduding (a) the cre~\tion of a lien or encumbrance subordinate to
<br />this M\."Irtgage, (h) the I..~rl~ati(ln ~)f ;\ ;Hln.:hase nWllcy ..,cl..'llrity intncst f...u household <lppliances, ('c) a transfer hy devise,
<br />JeSCl'm I,)r hy opcr.nion i)l !av. lIpllfl !he death I)! ;\ lllHH h:n<lnt t'l" hi\ the grant of allY k:aschold interest of three years or less
<br />not "':l..1Iltaining an l)ption to Pllrchast:, Lender may, ;\{ Lender's llPlion. dedarc all the "ums sCi..'llrcd hy this Mortgage to be
<br />Immediately duc and payable.. L..'ndcr shall havC' \\.lIvcJ \th.:h npliol\ (ll ac.:-ckrat~ if, prior to the "ale or transfer. Lender
<br />..md the persun h.' whom tht: Prl'perty is Iv be soiJ or transtcrrcd n:al:h agrcl'rnclll in writing that the credit of such person
<br />is s3ti'ifaClory II...) Lender and thaI the interest payable l'n rhe Slllll~ st:clIred hy this !\'1ongage shail he at such rate as Lender
<br />~haH requesL !f Lender has waived the 0ption tt' .iC("c!cratc prn\'iucd in this puragraph 17. and if Borrower's successor -in
<br />interest has cx.ecuted a written assumption agreement accepted ill \\-filing hy Lender. Lender shaH release Borrower froOl all
<br />"bligations lInder thi, Mortgage and the Note.
<br />lf L~nder exer.:-ises such option to accelerate, Lender ...hall m<.til Borrower notice oi ac("eleration in ;lccordance with
<br />paragraph 14 hereof. Such notice shall provide ~\ pcril'd oi n(ll les8 than 30 days from the date the notice is mailed within
<br />\l,.hich Borrower may pay the sums dedaf~d due. If Born:m-t;[ fajl~ to pay such "-urns prll)r h) the expiration of slIch period,
<br />Lender may, \vithout further notice or demand ClIl Horrov--cr. !ll\"Llt...C <lilY remedies rt.~rmlttcd My paragraph 18 herCl)f.
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<br />NON. UNIFORM COVENANTS.. Borrower and Lender fun her (,'t.Wcnal1l "nd agree as follows:
<br />18. Acceleration; Remedies. Except as pro,'ided in paraJ;:raph 17 hereof, upon Borrower's breach of any t.'ovenant or
<br />agriement of Borrower in this Morltla~e. includin~ Ihe con'mmfs 10 pal wlieu due ai1~- sums secured by tbis ~fortgujte,
<br />Lender prior to acceleration shan mail notice to RorrO\H'f us I)ro,.ided in paragraph 14 hereof spedfying: (1) the breai:h:
<br />(2) the action requife.d '0 cure such breach; (3) a dale, nut Ic!\.."l thun JO da)'s frum the date Ihe notje..'e is mailed to Borrower.
<br />bJ which such breach must be cured; and (4) th..t failun' to ....lIrt' !'tH.'h bu.'adl un or before the date ~pecified in the notil't"
<br />may rlt-sult in aeceleration of the sum~ !t~cure-d h~ this .\1ortgulJ,t'. fO(l'l'Iosure b~i judicial prul't'edin~ and sale of the Property.
<br />Th.: notice shan further inform Rorro\\ocr uf the ri):llI lu rdn~talc after .u.'n..lcr..liulI :.HId the right (0 a~crt in the foreclo~urc
<br />proce.:ding, the non-existence of a ddault ur un)' Hlher defen~e of 8orro\\er to l.h..','deratioll and forct.'lo!'ure, If the bread.
<br />is not CUR-d on or before It.\: date ~pef..'ified in :h~ uulk(', !.t.'ude:- lit Lender's oiltion mOl)' dcdur~ ~U Hf the sums se,'ured by
<br />this MOrtC81e 10 be immediately due a.nd pa)oblc "ithuul fUrlhl'( demand and ma) foredo,... b) judicial prot.'ceding. I.ender
<br />shall be- entitled to colle:t...t in such procetdin& all cll.pcn~~ Hf t"on:do!<l.ure, ilh.:ludlng, hue no. limited 10. ,'osts of dm'umentar}
<br />e,''id~I''.:e-, abMrads and Hilt reports~
<br />19, Borrower5 Ri&bt 10 Rrinstat.e-. 'Nolwilh\l;tndtng 1 clllit'r"s an:C'kr-atll~n \If the '\Hlh ~cl..'lIrcd by thi~ Mortgagt.'.
<br />Borrower shall have Ihe right tu have any pru~ct:'U:lllg~ hCgUfl h: t l..'fldee tp enll..)f~\.' th", MoJtgage dis....l.~tHinucJ at ,illY tUlle
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