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<br /> 83-001990
<br /> Lender% written agreement of applicahk law. Borrewer shall pay:, the amount of all, mortgage insurance premiums in the
<br /> manner provided under paragraph 2 hereof.,
<br /> Any arrunvas disbursed 'by Lender pursuant to this parigiap+n 7; with interest thereon, shall become additional
<br /> in&Nzedncss of 11,n-rower sec;,rred by this Mortgage. Useless Borrower, and Lender agree to other terms of payment, such
<br /> arrotint.s shall be p~iyablc upon not'" from Lender to Borrc-ct requesting payment then-of. and shall bear interest from the
<br /> date of diahursement at the rate payxbk from tiTroe to time on outstanding principal urKkt the Note unless payment of
<br /> interest at such rate w-mld be Contrary to applicable law. in which event sltch amounts %Imll bear interest at the highest rate
<br /> permissible under applfc2bk- law. Nothing contained in this paragraph 7 shall requ;:r Lender to incur any expense or take
<br /> any action hereunder.
<br /> SW Impertion. i_endtir may make or catAc to be made reasonable en!rics upon and inspections Of the Property, provided
<br /> tluat Lesd+tr s hall give Borrower Malice prior to any such inspection specifying reasonable cattsc therefor telated to Lenders
<br /> interest in tree Property.
<br /> 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection with r ray
<br /> ct:a3cm:r-Ma?t±n or other taking of the Property, or part thereof, or for conveyance in :icu of condcmnatic ri. are hereby assigned
<br /> and shaii be paid to Lender:
<br /> In the event of a total taking of the Property. the proceeds shall he applied to the sums secured by this Mortgage,
<br /> with the execss. if any. parr to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br /> cat},erwiv ag.rcc in writing, !here shalt be applied to the sums secured by this Mortgage Stich proportion of the proceeds
<br /> as is e01)41 to that proportion ,,vhich the amount Of the sum, secured by this Mortgage immediately prior to the date of
<br /> t2.Xirg ".Car-; to the fair maAct attic of the Properly immediately prior to the date of taking., with the balance of the proceeds
<br /> -paid to l?c?r;, wcr.
<br /> If the Property is ab;indorrcd b%I Borrow•e, or if. after notice by Lender to Borrower that the condemnor offers to make
<br /> an award or s.:;tlc a clairi for d,:tmagcs, Borrower fails 1(1 resliond to L.vnder within 30 days after the date such notice is
<br /> mwled. Ltndtr is a11tho14ed to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> P.,operty or to the svm-; s^curcd 1.y ihis IXfoTi 4age.
<br /> Unlc,s Leader :,nd Borrowcr otherwise agree in writing,, any %veli application of proceeds to principal shall not cmend
<br /> or p<rstponc Cic dim date of ':hr nionthly inst:+llments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> str:h installment-,.
<br /> 10- Rorro-,+er Not 'Rrle..sed. Extension of the time for payment or modification of amortization of the sums secured
<br /> by this Nf urt, , gr Ftrar.tcc1 by (:ender try any successor in interest of Borrower shall not operate to release. ir any manner,
<br /> the liability of the original } oc riwcr and Borrower's vticce5,-;0" in interest. Lender shall not be required to commence
<br /> pn.`cecdings agatnat such successor or reftt*e w. extend time for payment or otherwise modify amortization of the sums
<br /> secured by this Mortgage by r-?Lnon of any demand made by the original Borrower and Borrower's successors in, interest-
<br /> 11. Forbe2mrrce by lender Not a Waiver. Any forncarance by Lender in exercising any right or remedy hereunder, or
<br /> othcrwi,~c aflorded by applicable law, shali not be a wa:-,cr of or preclude the exercise of any such right or remedy.
<br /> The pr~~urcment of insuranc=e or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br /> right to acczlcrate the tnaturity~ of me indchtecinecs secured by this Mortgage.
<br /> 12. Remedies Cumulsatire. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> remedy .:ndcr this Mortgage or afforded by law c.r equity. and may be exercised concua rcntly. independently or successively.
<br /> 13. Successors and Assigns Bound; .loint and S~vrral Liability: Captions. The covenants and agreements herein
<br /> contained shall hind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borr)w•cr,
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shalt be join! and several
<br /> The. captions and iticading% of the paragraphs of this Nforigagc are for convenience only and are not to be used to
<br /> interprct or define the provisions hc;cof.
<br /> 14. Notice. Except for any notice required tinder applicable law to be given in another many,-r, (a) any notice to
<br /> Rorrowr.r provided fr.,a• in this Mortgage shalt he given by mailing such. notice by certified mail :adaressed to Borrower At
<br /> the Property Addres,,, or rat such other address as Bortwer may designate by notice to Lender as provided herein, and
<br /> (b) any notice to Lender :;hall be given by certifed mail, return re-cipt requested. to Lender'; address stated herein or to
<br /> such other addrevs as Lender may designate },y notice to Borrower as provided herein. Any notice provided for in this
<br /> Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 15. Uniform Mortgage; Govertaing Law; Sevembility. This form of mortgage com'ainca uniform covenants for nations!
<br /> use and non-uniform covenant- with limited variitiona by jurisdiction to constitute a uniform security instrument covering
<br /> real property, -R;is Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> event that any provision or clause of this Mortgage or she 'Note conflicts with -pplicable taw, such conflict shall not affect
<br /> lather provisions of this Mortgage or the Note which can be given effect `without the conflicting provision, and to this
<br /> end the provisions of the Mortgage and the Note are declared '.a be mvemble.
<br /> 16, Borrower's Copy. Borrower shoal be furnished a conformed. ropy of the Note and of this Mortgage at the time
<br /> of execution or after recordation hereof-
<br /> 17. Transfer of the Property; Assumptiori. If all or any pert o; the Property or an interest therein is sold or transferred
<br /> by Borrower w•itho:at L,.c:nder's prior written consent, excluding ;al the creation of a lien or encumbrance subordinate to
<br /> this Mortgage, (h) the creation of a. purchase money sccurit- interest for hriusehold appliances, (c) at transfer by devise,
<br /> descent or by omr'ation of law upon the death of a joint tereaant or (d) the grunt of any leasehold interest of three years or less
<br /> not ronttin'~ng an option to purchase, Lender may. at Lender's option, declare all the sum_; secured by this Mortgage to he
<br /> immediatc:v due and payable, Lender shall have ivai•-ed such option in accelerate if, prior to the sale or transfer, Lender
<br /> and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br /> is satisfactory to Lender and that the interest p3 ablt on the sums wcurcd by this M rrtgyge %hall be at such rate as I.ender
<br /> shall request, if Under has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interest has executed a written assumption agreement accepted in writing by Lender. Lender shall rcleaw. Borrower from Jill
<br /> obligations under this Mortgage and the Note.
<br /> If Lender c7wrcises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 hercof. Such notice shall provide a period of not less than 10 days from, the date the notice is mailed within
<br /> which Born:rdver may pay the sums declared due.. If Borrower (atilt. in pay such sums prior to he expiration of such period,
<br /> I.cndea may, without (farther notice or demand on Borrower. invoke pny' remedies permitted by paragraph 18 hereof,
<br /> Nov-Uvtrr +t1t COVF"ANTS- Borrower and I.cndcr fw1hcr covcn:ant and agree as follows-
<br /> 18. Acceleration; Remedies. Fxce.pi as provided ire paamtraph 17 hereof. upon Borrower's breach of any covenant or
<br /> agreemrri of Borrower in this Mortgage, Including The covenants to pay when due anv tuns secured by this Mortgage,
<br /> fend-e prior to u,wceleration shall ;nail notice to Borrovser m provided In paragraph 14 hereof specifying: (1) the breach;
<br /> (2; the action required to cure such breach; (3) a date, sot less than 30 day% from the date the notice is mailed to .borrower,
<br /> by which such breach must be cured; and (4) that failare to cure Stich breach on or before the date specified in the notice
<br /> muy result in ae.•ceicratien of the surer Secured by thin Mortgage. foreclosure by judicial proceeding and tale of the Property.
<br /> The notice shill further inform Borro%er of the right to reinxtsate after acceleration and the tit;lat to avaert in the foreclosure
<br /> proceeding thv non-existence of a default or any other defemae of Borrower to acceleration and foreclosure, If the breach
<br /> ix not cured on or before the date specified in the notice. Lender of bender's option may declare all of the sums secured by,
<br /> this'. 1rngaze to be immediately due and payable without further demand and may foreclose by judicial proceeding. Lender
<br /> shall be entitled to collect in Stich prticeedling all expenses of foreclosure; including, but nor limited to, costs of documentary
<br /> evidence, a.brstracts and title rtparts.
<br /> 19. itorrower*s Right to reinstate.. Notwithst_tnding Lcndcr's acceleration of the sums secured by this Mortgage.
<br /> Rorrewer shalt have the right to have any proceedings begun by 1,.cndcr to enforce this Mortgage disconnnuccl at any time
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