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<br />i.ri!un,l.i, .sli;t~~€r .IIV.a,~~,tm^ui- ~ ..t~ ~yy~li,_aD_r„ It.~~. ;;ii' a^r~e~~.,~u, __..u'_ ~, ;~rii ~~-<i tilt ~r ~~all'I' i --.~.r:~ge L.-,-air. ., ...v.>rrrs~ i', t=-
<br />rra~uwr ter i~ .,,w~ii~iai 6 iairoa;9~~eir ~;rafeki i Ifars,,e~cf
<br />~~4rti' a~~m~rV+r i tnCq t9laslk'ii,,.uw~e7 drgv Le•ider p~~~ri6sta.mt to it-is I~ar;tg,;apdL wrl: ,,.9:,~~rM>, ;..,,.ui~.. t?ruzt,' >xc,Er~nta a~'dllit,nr:ai
<br />inJ:.,edr:,.>.. , ,.-;rc;%.er sewvrt:d v th+,'.Iorxgat_ ,nle.. Fv~^rr•.~er a^^. I_en+se* agree tc! athet terns of gayrttent. ,.~ch
<br />aatovnts sr:aii ~- t?ayable ttpr_.n roti.e fray Lender €n Barn~A~rr r:f~ses-inz payment there=~f and s^atl bear i...%resi*ram t^e
<br />date :sf disbursement at the rate payable fre,; iir;e to tame or, a*.;tsrar,~ing u:=ncipa' un~r the' Noce ~tniess payrnrni of
<br />inter<;s, 3's such rate would be contrary to applicable izw, in which evt;nt st~h a^tnunts shaE1 bear interest ai ttse highest rats
<br />permissible under applicable taw. ?`nthing cantai~~ed in this paragraph 7 shalt rtq=_~i.*P Lersder tc inr:ar anv ezp~enu or take
<br />any ection hereunder.
<br />fs. Inspection. Lender may make or cause t~• be made reasonable entries upon and inspections at the Property, provided
<br />that Lender shat} give Borrower notice prior to ar.y such inspectinz spe;:sf'ying reasonable cause therefor reEated to Lender's
<br />onterest in the Property.
<br />9. Candemnatlan. The proceeds of any award or clam for damages. direst nr cc.nsequcntia':. in connection with any
<br />condemnaticn ar other inking of the Propery, or Hart thereof, ar for conveyance in Ioeu cf cordemnatian. are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall Fx. applied io the sums secured by this 4fertgage.
<br />with the excess, if any. paid to Harrower. In [he event .•*f a partial taking rf the P-epert~, unless Harrower and Leader
<br />t~the:wise agree in wrong. there shall he applied to the corns secured by this hfnrtgage Such propcsrtinn of the proceeds
<br />:s is equal to that proportion which the amount cf the sums secured by this Mortgage immediately prior to the date of
<br />caking bears to the fair market value of the Property immediately prier in thx dale of ;along, with the balance of the proceeds
<br />paid to Borrower.
<br />If [he Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to make
<br />an award cr settle a Maim for damages, Borrower faits to respond to Lender within 3fI days after the date such notice is
<br />mailed. Lender is atrtharized to collect and apph• the proceeds. at Lenders option, either ±o restaratior. or repair of the
<br />Property ar to the sums secured by this Mortgage.
<br />Ztnless Lender and Borrower otherwise agree on writing. any such appticatia^ of proceeds to principal shall oat :.rc-rd
<br />or postpone the due date of the monthly installments referred to in paragraphs i and 2 hereof or change the a ~~~.a of
<br />such installments.
<br />3Q. Borra~ver 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 shalt ant operate to release, in any manner,
<br />the Liability of the original Borrower and Borrower's successors in interest. Lender shall not be recuired to commence
<br />proceedings against such successor or refuse *.o extend time for payment or otherwise modify amortization of the sums
<br />-secured by this'vlortgage t„r r .. of ~ v demand made by tt;~ arigirat. B.^^-ra;: and H,^rrawer; st:..aesso .., e:~st.
<br />21. Farbearanee by Lender Not a Waiver. Am• forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance ar the payment of taxes nr other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. Atl remedies provided in this Mortgage are distinct and cumulative to any ether right or
<br />remedy under this Mortgage or afforded by law or equity, and may he exercised concurrently. independently o: successively.
<br />I3. Successors and Assigns Bound; Joint and Several T,iaM'lity; Captions. The covenants and agreements here'sn
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shaft be joint and several.
<br />The captions and headings of the paragraphs o{ this Mortgage are for convenience only and are not to be used to
<br />interpret ar define the provisions hereof.
<br />19. Notice. Except for any notice required under applicable taw to be given in another manner. (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Barrower may designate by notice to Lender as provided herein, and
<br />fb) any notice to Lender shat] be given by cerified math ream receipt requested. m Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provide? for in this
<br />Mortgage shah be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; SeverabGlih•. This form of mortgage combines uniform covenants for national
<br />use and Han-unifarrrt covenants with limited variations by j~~risdiction to constitute a uniform secctrity instrtment covering
<br />real property. This Mortgage shat! be governed by the law of the jurisdiction in which The Froperty is located. Ir. the
<br />evens that any provision a .aus2 of this Aiartgagc er the Nate conflicts with applicable law. such convict shall not atiect
<br />other provisions of this Martnage nr the Nnre which can beg n effect without *.he convictit•.g pro::sign. and to this
<br />end the provisions of the Mortgage and the Nete are declared to, be severable.
<br />16. Borrower`s Capg•. Borrower shaft be furnished a rnnformed copy of the Nnte and of this Mortgage at the limo
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is said ar transferred
<br />by Borcawer without Lender's prior written consent, excluding {a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage. {b) the creation of a purchase money security interest for household appliances, {ci a transfer by devise,
<br />descent ar by operation of law upon the death of a joint tenant or {d) the grant of any leasehold interest of three years or less
<br />not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by rhos Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale ar transfer. Lender
<br />and the person to whom the Property is to be sold nr transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shay requzst. If Lender Itas waoved the option to accelerate provided in this paragraph 17, and if Borcewer`s successor in
<br />interest has executed a written assumption agreement accepted in writing by bender, Lender shall release Borrower from all
<br />obiigaiions under this Mortgage and the Note.
<br />If Lender exercises such option [o accelerate, Lender shall matt Harrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Barrower may pay the sums declared due. if Barrower faits ro pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />No:v-IitY1FOR,L1 C(iVFNANTS. Borrower and Lender further covenant and agree as follows:
<br />f$. Acceleration; Remedies. Except as provided in paragraph l7 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borro•rver in this INortgage, including tree covenants to pay when doe any sums secured by [his iFforlgage,
<br />Tender price to acceleration shah malt notice to Borrower as provided in paragraph IB hereof specifying: (1) the breach;
<br />f2) the action required to cure sash breach; t3) a date, not Tess than. 30 days from the date the notice is }nailed to Borrower,
<br />by which sorb bre~h must be cured;. and {4) that failure to cure such breach on or before the date specified in the notice
<br />may result in acceteratian of the sums secured by this Mortgage, foreclosure by judicial proceedieig and sale of the Property.
<br />7'he notice shalt ferrther inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceednq; the neon-existence of a default or any other defense of $orrower to amekration and foreclosure. if tfie breach
<br />~ oat cured on or before the date speciSed in the notice, Leader at Lendez's option may declare aB of the sums secured by
<br />this Mortgage to 6e immediately Jere and payable without furtfier ,remand and map foreclose by judeciat proceedi~. Lender
<br />shalt tae entitled to cotteM in such proceeding all expenses of forectaseue, irtctuding, but not limited to, costs of dorumeretary
<br />evide::ce, afs±ra;ts a°ti Btlr reports,
<br />la gw.rv : .s.. as..i
<br />~ , ,..mot to °e:rz`ate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shaft have rt,~ right to hive any prtx_eedings Iv_~gun by I~nder !e enfcrce this I4fartgage disca;.iinuad a[ any time
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