|
<br />84 - 005817
<br />
<br />r
<br />
<br />Lt.'offer";.:, ~"'f!tb.;n ;~gr~"emem or ~p:p!k.'lb!e b.w. Borr(lwer shaH pay the arnOt,mt of aU mortgage insurance premiums in the
<br />manner provided under paragmph 2 hereof.
<br />Any amollnts dishursed by Lender pursuant to this paragraph 7. with interest thereon. sball become additional
<br />indehtedn"..s of Bnrrower secured by this Mortgage, UJ1less Borrower and lender agree to. otherlerms of payment..such
<br />amounts.hall be payable upon noIice from lender to Borrower reque!ilingpaymentlhereof. ana shall bear inlerest framthe
<br />date of df!thllrr\ement. a. the rate payabie irom time to. time on outstanding princip&i under the_ Note- iinless .~~to--,Of-
<br />
<br />inter~~~~~",s~~,:~_~~t~_~~~~~~~:?n~~ry..tio :~~~:::~}~:;'f~~~ ':~~~,.~~n~~~_~ ~aii~ beat-- !fi(eresL~t ~~:_~~i$~:~
<br />p~JUH~'IJI\;: tJH~CJ dPFn1,..QVI~ tan'. l~ot'Hn& .....vlnc..u...u n, uu.:a F~U"6."t"h , ,:"'.~!! requ.re Lender to_lf!C1.J!' my. "~~~."I)f' lp.1Co
<br />'lnV action bereunder,
<br />. 8. J~ l.ender m:lY make or cause to be made reasonable cnni"" upon artdin!pectiOt!sof'theP1'()perty.,~"
<br />tbat lender shall give Borrower notice prior to any such inspeetion specifying reasonable catl!letherefor:retated'to~'
<br />mtcre~t in rhe Property.
<br />9, CondemnalioJl. The proceeds of any award or claim (or damages, direct or consequential. in connection wilh'any'
<br />l.:{lfld("'illnai;on tlr f...-tfncr taking of ihe Pr.,)pcfiY, ()f part ther-rot. OJ'fOf~Ofivcy~iice in ~kii-of cv.-.:dcmn-~=:.. ar-e'-herehr-~~~"-
<br />and shall he paid to Lender, '
<br />Tn the even! of ;l tata! tak!ng of the Pro~rty. -the proceeds ~han he-llPpt.ed to the sl1m5--secltred:-by,:"this---,M~~-
<br />",ith thc e":c". if any, raid to Dor",wer. In .he event of a partial taking of the Properly, un!es$Borrowerand,'Leftcl<<-
<br />",herwise agree in wri.ing,lbere shall he applied to the sum. secured by this Mortgage suchproportion""f'lh""~
<br />as i, eQlIal to that prnportion which 'he amount of the sum, secured by this Mortgage immediately 'prior lothe'dlrte,,,,:
<br />taking bea" r,o the fair m11rkel value of the J>ropertv immediately prior 10 the daleaf taking, with thebatai1ceof the,p~':
<br />paid to Borrower. ' "",
<br />If the l'ropeny is ahanooned hv Borrower, or if. after notice hv Lender to Borrower that Ihecol\demll()l'o1t'm"to:l1lIklt,
<br />:H1 Z'Nara !:~r ~etth:: a c!a!m fnr d2m~ges~ BMtnw~!" fa!!s !~ res~ni !(I L!!nd~r within :10 day~-- 3-frer the _d~te--'_,s~~c:noriCe-js
<br />mailed, LendN i" authorized to collect and apply rhe proceeds. at Lender', option. e,mer.\", restoration or repair 'of the
<br />PrOnPrt\! ~H' Tn !h,.. "unl\.: uo-c'nr-prt h'\.' rhi.... ",-fOMVfU'P: .
<br />_ _ ~_"_' '" ..._ U___'., _.___..__ ". ..._.. .._.__.~_.".--"_
<br />. lJille~s Lender and Borro'W'er "othen\'fse agree in wri~i'iig. ;~n', .. r.__'>-. ~P\J'~tcaticm of l'~';~'eeds to principal.s~aU'-_~_-:~~teD~;:-~
<br />or postpl1ne the due date of the monthly in.tallm."". refem,,(' ;n p~La,aph, I and 2 hereofor change'the _unr'll"
<br />",uch installments.
<br />10, Borrow". Not Released, ExtenSIon of the time for payment or modification of amortization of the SUJ:ls'~uretr
<br />hv this Mortt'!:.a!!e a-ranted hv Lender to any '<;tic-cessor in interest of Borrower shalt not operate to- releasei- in any, --manner~-
<br />the liabilit}' ~f ~th'; original' Borrower and' Borrower', successors in inleresl. Lender snail not be required to commence'
<br />proceedings against such ~ucc~s-or or refuse to extend time for payment or otherwise modi~ amortization of _the_: $~
<br />'ccurcd hy this M0l1&llge hv reason of ''"I' demand made hy th. original Borrower and Borrower's StlCce8SOI'II in interest;
<br />II, Fomeanmce by l.ender Not a Waiver. Any forbearance bv (,ender in exercising any right or remedy hereunder. or
<br />olherwise afforded hy applicable low. shall no! he a waiver of or preclude Ihe exercise of any such right Ot'remedy,
<br />The procurement f\f insurance nr the payment l)f tax~_<; or other liens or charges by I.end~r shall not be a waiver,_of-Lenders".
<br />right to ac'Cc-Jc-nte the maturity of the- ;ndchtcdne~s "iccured hy this Mortgage,
<br />12. Rem~dles Cumulative, AI! rcmeu,,,s pnw.ded H' lhi, Mortgage aTe di,tinct and cumulative to any other right Of
<br />remedy under th!s ~!>!."\rt~!!g-(' Of aff.:!'!'!!ed to", l~w <1-; t_'qnil"V ;lnd m~~y he f~X'ercised concurrently. independently or successively.
<br />I;'., S_c_ur. lUfU ""illn, Bound; .Ioinl :md Several Liability; ClIl'lions. The covenants and agrcernenlS berein
<br />contained ....halll-,-ind. ~md the righh hereunder \haH inure to, the res.pei;.'t1vC 'Successors and assigns of lender and-Borrowor~
<br /><.;ubject to the p-rovi"iom. ,Jf par aguph 7 hereof. \11 '.:ovc-nanh and agreements of Borrower shaH be joint and several.
<br />The ..:-ap1Io-ns and headm~~ of the paragraph, of this M0rtg.ag1: arc for convenience only and are not to be used to
<br />interpret or define the provision" hCf<:!Of.
<br />14. Nonce, Except for any notl"':C required under appHcahle i3W to be given in another rnanner~ {a} any not~ to
<br />Borrower pro-vided for in ih!\ MOrfgag.e shaH he given hy maiting ~uch notice by certified maii addressed to Borrower it
<br />the Property Address nT ,H such ~)thl~f ;.i.ddn::\s :is BOtH)Wer may designate by notice to Lender as provided herein,.- and
<br />(n) ~i,i1Y i1oth.t: h) L~il\.,i-r S.h~in he !H"'i2i1 hI<' .::"firtte..1 mail. ,"t'/;;rr; rc~~irt :-cquest~d. tc Lem...ter:'l ~d-dree s-tited ~il' or- t(t.
<br />such (1ther address ;j$ Lender may ucsigniltc hv notice to Borrower as prOVided herein. Any notice provided for in this
<br />Mortgage $haiJ be deemed to have been given to Borrower- or f _ender when given in the m.rm-.,r ~ign=t~d t-.eiatn;.
<br />i5. Uniiofjfi ~1Qi1!ii!f-~ !.i{:~:o.""~i !..:~~ St-~rr>>biiiry. 'TnlS h1rm of mortgage combines uniform covcnant.~ for nadol'lal
<br />U~ and nnn~~mifnrm ('--Ovcnanls with Hmiled \'Jnatlom, hy jun"di..:tiut'i to constitute;a unifo-rm_ security instnuficnt W".-crice
<br />real propenv. Thi, Mortgage ,hall he governed oy ,he law of the juri.dkhonin whlchtneProperty is located, In the
<br />event !hat an~' pr-nvi$.ion or clause of rhi~ Mortgage nr the Note conflicts with-appUcablelaw;,-'s-ut-b conflk: -shalt -not' affect
<br />other provlskms of thi-s Mortgage '-If lhe Nt,te whKh can be gH'en effect without the conflicting_ provision. and to this
<br />end the prc'!!5h.m~ ~--"f !he ~1cr!ge.ge .:inc the ,'-*~ are Jedar~t! t.,) ~ s~Ver1!-bJ~
<br />t6. Borro..'er's Copy. Borrowe, ,hall be f",""hed a conformed copy of the NOle and of thm Mortgage at tbe time
<br />of executit)n or after recordation hereof.
<br />t7. Tl'UlSfer of !tie Property: ,",..III1\1>I;on. If all or any pan of the Property or an interClSltherein is sold or transferred
<br />by Borrower without Lender's prior written nmsent. excluding fa) thc c",,alion of a lien or encumbrance suoordinate to
<br />mis Mongage. \b) the ereallon ,)f " purchase money 'ecmit\' interest for bousehold appliances, (e) a transfer by devise.
<br />descent or hy operation of fa" upon the de.aHl ot II joint tenant or f it Hill ,r1rt jf lII~r I-nTh Ii. i...... gf th.. J 11M 9f J...
<br />-i~ ~I ~ . ~. r ,,, I to r r- lo..r ~ Lender may. at Lender's option. declare all the sums secured hy this ~Mortgage to be
<br />lmmt*{i,~rt"l~' rln~ ~~d f'l.;i!.\,.uh'~_ 'prutf'r "h~l~ h~\[.. w.'.lIved "'Ben ootion to accelerate it orior to the sale or transfer. Lender
<br />and -~he ~f-son-.;o ~h;~'.'{h'enpro;;;;y- i,,' .t~. be ~old or transferred reach agreement in ~riting that the credit of such person
<br />is sa,isfactory l.O Lender and tha, tbe mte"''' payahle on the sums secured oy .his Mortgage shall be at slIch rale as lender
<br />shan reqmst. If Lender has wnived the tlptlon 10 accd-erare- provided in this paragraph 17, and if Borrower's successor in
<br />interest has e..,cuted a wrillen assumpllon agreement accep.ed in ,..i,ing hI' Lemler, Lender shall release Borrower from all
<br />obligations under this Mortgage and the NOle.
<br />H Lender e'(er-c-i.~ ~uch .option to acceJcrate. Lender :-.h<tH mall Borrower notice of ao::ceieration in accordance with
<br />paragraph 14 hereof Soch notice shaH pro-vide.a ~}Cnod t)f !k'j less than '10 days from the date the notice j~ mailed within
<br />which Borrower may pay the sums declared due. If BOTfo'A'er f.liis ro pal ...;uch ~lfms prior to the expiration of such 'period.
<br />Lender milY. without fUl'ther notk.e OJ demand on Borrower, mvoke any remedies pern\ltted by paragraph 18 hereof.
<br />
<br />l
<br />
<br />NON~LJN(t'ORM COVENANTS. B(1H<'wer and Lender further o.:uV\'-HiJnl and agree as foliows.:
<br />Ill. ,<lccdef1llioa; RemedWs. Ex...,pt lIS p....vidtod In p.llI'8&raph 17 hereof, "pool Borrow....'. blueh of aay cove.....t or
<br />",--"1 of Iorr.....er I.. tbis Mort....,. indndlnc the couna..!> 10 pay when due aa~ sums HCURd by tlli!l Mortpce.
<br />~ priot' to K<<IeI1lli<m sbaII aWl noli<< 10 Borrower ., "",,,ided in PlU'lI&rapb J 4 b"Rol .pedfyinjJ: (l) !tie btuc:h,
<br />{%} lIle ~ ~ to <<I.e oueIi bte.1Kh; (3) a date. not les< Ih.... J{) ,",y. frum lhe date lhe nolJce is maDed to Bol'fOtl'e..
<br />IJy ........ .....h btuc:b _ be cured; ...... (4) thai f.lIllre to c..ft oUt'h btellt'G Oft or before the date ......illed ilt lhe JJOdce
<br />..., -U i....,~ of the ....... ""cuRd by Ibis Mor!XlIIl'" foreekMlllre by JndklaJ prmeedJIIIt and liidt! <>f tbe Property.
<br />n.. ~ ... hartHr In{_ Borrower l,( lhe rigbt 10 rcwlate aft... acN:leralloa and the rig,!,1 to asoert ill tM foreelooun
<br />l'fO'e....... !tit _~ <>f a deJaJlf( ot' any o(he. deJ..- <If Borru_r to lI<<deradon and t"....,Iooun. If the bft...lo
<br />'" _ <:1If'IOd _ ." W_ I1M' dal" ."""lfied io th.. lK>lke, f ",mkr at .tende.'. optilln may d<<laft aU of the _ .sec..red by
<br />1hiIl~ 10 be i~y due and !Mylllbk ...!tho..1 furlb.r demand and ....y fotKoJo.e by judkilll procMl.... I",..."
<br />~.... ~ 10 \:'oiifft tn s~h P<<M'~'" M t~prm.Q (tf rut.d~","T~. iift.lii:ll-t.lui. biU: ~ U;ntt~ t~" {:~ of ri~u;~tH}.
<br />ft~..,. IItot.U.'.. "ll<I til'" .....$.
<br />19,.. ht'~.r!i It... W R~ate-, NOJ""ith~tdnd~ng t -enaer'" ~.h....~dt;"::r-atHJn of jhe "1ll1l\ 'i.~...uH;d hy thl'" MUftgagc.
<br />~H{)'Wi:"f ~J'1",ji f;:a:Vlt thf. tifht to h,\v'C :jHY r~r-(>t~('''.S:tHng'!; ~gUll h\ t t-nJer \ct." ii'nh....!(<,; :two Mortg~1~~' dl~t:(~ntlnHed Jt .toy Hme
<br />
<br />Nlr;.. 3/84
<br />
<br />So;t!l:';,.~# 1 'I1H.A
<br />
|