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<br />84 - 006246
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<br />I.emh:r'\ wrHh...n agreement or applicable law, Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amount. disbursed by Lender pur.uant to this paragraph 7, with interest thereon, .hall hecome additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to. other terms of payment, such
<br />amollnt. shall he payable "pon notice from Lender to Borrower requesting payment thereof, and shall hear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principai under the' Note- -unless payu.ent',"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 10 incur any expense or take
<br />any action hereunder.
<br />8. Inspecrion" Lender may make or cause to be made reasonabie entries upon and inspections of tt.e 'Prvpecty, prcvided
<br />that Lender .hall give Borrower notice prior to any such in.pection specifying reasonable cause therefor related to Lender's
<br />Interest in the Property,
<br />9, Coooemn,,",,!!, The procced$ of any award or claim for damages, direcl or consequential, in connection with any
<br />L'ondemrmtion or other taking of the Property. or part thereof. or for conveyance in lieu of condemnation. are hereby assigned
<br />and ,hall he paid to 1.cnder,
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<br />Tn the event of a total taking of jhe 'PiDpeity, the proceeds 5haH be fipp!ied ;c: me- sums -see!lfed -~rthffl tylwagage;-
<br />with the C\l,:e,~_ if any. paid to Borrow'~L in the event of a partial taking of the Property. unless -B.orrower and Ltndor
<br />,)therwise agree in writing, there shall he applied to the sums secured by Ihis Mortgage such proportion of thc'.prooeeds
<br />as i, equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the dale of
<br />taking he." to the fair market valne of the Property immediately prior to the date of laking, wilhthe balance ofthe proceeds
<br />paid to Borrower.
<br />If thc Pr0perty is ahandoned hy Borrower, or if. arter notice oy Lender to Borrower that the condemnorofferi to mllke
<br />"In award or settle a claIm for damages. Borrower fails to respond to Lender within 30 days after tbe--date stlch-notiCe- is
<br />mailed, Lender is authorized to collect and apply the proceeds, al Lender's option. either to restoration or repair of the
<br />Property Of [(1 the sums secured hy this Mortgage.
<br />Unks, Lender and Borrower otherwise agree in wriling. any such application of proceeds to principal shall not extend'
<br />or p.:lSlpone Ihe due date of the monthly installments referred to in P", "i<'"';\S 1 and 2 hereof or change the amount of
<br />~t1cl1 ins-laJlments. .
<br />lO~ Borrower Not Released. E.,({cil'iion of thf' {fr.~.v' r0r P'~;""-.:'.t or :i1od'ilication of amortization of the sums secured
<br />hy this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner.
<br />the liability <'f the original Borrower and Borrower's successors in interest. Lender shaH not be required- to COMmence
<br />proceedings agamst such successor or refuse to extend time for payment or othel"\\'lse modify amortization of the sums
<br />~ecurcd bv thi~ ^,1ortI!3i!e hv reason of anv demand made bv thE orii.!mal Borrower and P:)rrower's successors in interest.
<br />II. ForbearaD(:; by l.';'nder Nol a w;Uver, Anv forbea;ance by I_cnder in exercising ,{ny right or remedy hereunder. or
<br />otherwise afforded by applicable I"w. ,hall l10f he a waiver of or preclude lhe exercise of any such right or remedy,
<br />The procurement of insurance or the payment of ta~cs or ('ther liens or charges by Lender shall not be a waiver of Lender-s
<br />right to accelerate {he maturity of the indentcdnc,,-s ;;;CCllfCO by this 7\-fortgage.
<br />12. Remedies Cumulative. All remedies proVIded ill this Mortgage are distinct and cumulative to any other right or
<br />remedy under lhi, ?vfort.l?agC' or afforded tw Jawor equity. ;Ind may he exercised concurrently. independently or successively.
<br />13. Suc{'e5$ors and AssiJ.tns Bound; Joint and Several Liability; Captions. Tne covenants and agreements herein
<br />contalneo :-,haH bind. anti the rights hereunder shall inure to. the respective slIccessors and assigns of Lender and Borrower.
<br />,ubject t;,) th~ pro\'t'iion~ of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br />The captl,ms and headin-g5 of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define [he prOVIsion;,; hereof.
<br />14. ~otiee. E.\cep! f~)r any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for In thi~ ~-1ortgage shall he ~i\"en by mailing such notice by certified mail addressed -to Borrower at
<br />tht Property Address or at such orner <lddres'i ~~s Bt1rfower may designate by notice to Lender as provided herein. and
<br />(b) any notice 10 Lender shall he given hv .:enifico mail. ret\lrn recelpl requested. to Lender's address stated herein or to
<br />sllch other address il.S Ll'nder may dc~ignatc ~\' ootl{"c tn Born.)\\'cr as provided herein. Any notice provided for in this
<br />MOltgage shail he deemed to h"e been given to Borrower or Lender when given in Ihe manner designaled herein,
<br />IS. Uniform l\ifftl'tJ:age; Gt)~'ernin~ Law; Severabilit}'. This form of mortgage combines uniform covenants for national
<br />use and non.uoifnrm covenants \\ ith limited variUllons hy juris-diction to constitule a uniform security instrument covering
<br />real properlv. This "fortgage ,hall he governed hI' the law l'[ theiurisdiction in wbich the Property is located, In the
<br />event that any provision or clau':ic of thi, Mortg.age pr the Note conflicts with applicable law, such conflict shall not affect
<br />l)ther provJsion... of thIS Mortgage or the NCt1e whH.."h can ht: gi\'t.~n effect without the conflicting provision. and to this
<br />end the prOVIsions 0r- the 1\lortgage and the ~l'te arc declared to he s.everable.
<br />16. Borro.,.er', Copy, Borrower ,hall he ["rm,hed a conformed copy of the NOle and of this Mortgage at the time
<br />,)f c'(ecHtion or .,frer recordation hereof.
<br />17. Transfer of the PropertYI Assumption. If all or any part of the Properly or an interesllherein is sold or transferred
<br />by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
<br />thIs MOrlgage, (b) lhe creallOn of " purchase ,"oney security ,"lere.1 for household appliances, (c) a transfer by devise,
<br />descent or oy operation of jaw upon the death of a joint rcnam or irJ.' lRiJ ~i8."'i __r fll~. .. u~L._1-I :-.. ---. _& .L...._... ~.;a..~ -:r !~f:
<br />~1il .. 'l1:ng nr f~- T HI' ln~ Lender may, at Lt:-nder\ option. declare all the sums secured by this Mongage to be
<br />Immedialely due and papble. I ender shall have waived sllch optIOn to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property b tu be sold or transferred reach agreement in writing that the credit of such person
<br />is sutisfactory to Lemler and that the interest payable on the sums secured by this Mortgage shaH be at such rate as Lender
<br />shall lequest. If Lender bas waived Ihe option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest ha\ executed a written as.sumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and ihe Note,
<br />H Lenuer C':o;,cr(,:ises such opuon to :-\.::celerate, Lender -shall mail B()rIower notice of acceleration in accordance with
<br />paraglaph 14 hereof. Such notice ,hall provide" period of nt't iess than 30 days from the date Ihe notice is mailed wilhin
<br />which Borrower may pay {he ~urws ue-d.itred due. If 3orrO\.,,"Ci fait~ to pay SHi..'h sums prior to the expiration of ~uch period.
<br />T.emkr may, wtlhout further nonce \.)f demand On Borrower. inVOKe any remedies permitted by paragraph 18 hereof"
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<br />NON-USlFORM COVf,NANTS. Borrower and Lt.-nder further COVen.J!H anJ agree as follows:
<br />Ill. Ac<eIe....ion; RellK'dles. Ell""pt as provided in parlllraph 17 heTl'Of, upon Borrower's breach of any covenant or
<br />.__t of Bo,,0"'6 in Ihls Mortg"lle, including Ihe covenanl. 10 pay when due any snms secured by this Mortg"lle.
<br />Lender pri<>r 10 ....'celflation .hllll mail oolico 10 Bn..ower Wi p....ided in paUlltraph 14 hereof spedfylnR' (11 tbe breach;
<br />(ll tbe #Iinn requite<! to cure sucb btueh; (3) a dale. nol k... Iban 30 days from Ihe date the notice is mailed to Borrower.
<br />by whido tlllCh bread. mllSt he cured; aud (4) Ihat faUure 10 cure .uch breach un or before Ihe date 'pecified in the notice
<br />ma, "",ullln accekratiod uf Ihe ...n.. ..,cured by Ih.. Mort.lIIle, foreclosure by judicial Proceedillll alld sale of the Property,
<br />'~ ~.. mall furlher Infom. Bonower of the rili:hl 10 reirn;t..... afler ac<~!~rallon and the ri~ht I" ""..,rt in the foreclosure
<br />p~ iN ~"'eac-e: of .. del.utt or any- of her defense of Borrowe:f' fe, acc~ieration and lutttIOSiii'e-. If the b~b
<br />is _ c....... .... j)f bel..... tI..,. dale speciiied in Ibe notice, Lender al I.ender's opiion ma~ deelftr., all of tbe su..." secllred by
<br />lb. MDIt..... to b.o inum.oiatet) due and payabk without furth.. dtonuond ....d ma) foreclose by jndicial proceedl..., Lender
<br />.~ be ..Atltlflf '0 .....ifft io .""It proceedl"ll 1111 expo....,_ of f..reClosure, incl..d1I1l1. bUI not limited (0, <osts uf d~..mentary
<br />......."".. ....f..... and Iltle "'pl.It..
<br />19, hfrow~rt$ RiCht to Rt'im~h.~. NotwHh~ia.ndiHg j ....ruler.'" ~H,.<.:ch:nItIOft (,t the ~l.!rn., ~t'n!r-ed in ~h;" MOrlgJg~.
<br />fJ-OHdWt'. "hall have the ff'li1hi l<t tl:~"'t ~ny pn.K:c~~d.Hl~' hC'~Hn hv I ::,ndCf i., -nl1nn...(: fi-"h M(}rt-g~gt; \.h,\".:~j-HlilHtl,'J .I[ all)- IOlH.'
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