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<br /> Lender's written agteement or applicable law. Borrower shall pay the amount of all moRgage insurance premiums in the
<br /> manner ptovided under paragraph 2 hereof.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with inrenst thercon, shail become additional
<br /> indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agm to othec terms of payment, such `
<br /> ; � amounts shall be payable vpon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the � -
<br /> date of d'ubursement at the rate payable from time to time on outstunding principal under the Note unless paymmt of ; , `
<br /> ; interat at auch rate woutd be contrary to applicable law, in which event such amounts shall bear interest at the highest rate , ,
<br /> s permiss�'ble under applicable law. Nothing contained in this parngraph 7 shall require Lender to incur any expense or take
<br /> any action henunder.
<br /> s8. Inspectbn. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> that Lender shali give Borrower notice prior to any such inspection specifying reasonable cause ther6for rdated to Lender's
<br /> interest in the Property. �:
<br /> ' 9. CondemnaHon. 'The proceeds of any award or claim for damages, direct or wnsequential, 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 Lendec
<br /> � In the event af a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage. '
<br /> with the excess, if any, paid to Borrowec In the event of a partial taking of the Property, unless Borrower and Lender
<br /> ' ; otherwise agroe in writing, thete shalt be apptied to the sums secured by this Mortgage such propartion of the proceeds
<br /> as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> i taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br /> j 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 setNe a claim for damages, Borrower fails to respond to Lender within 30 days after the date such nofice 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 sewred by this Mortgage.
<br /> ? Unlus Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend f,
<br /> i or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> � such installmrnts.
<br /> 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums sewred
<br /> } by this Mortgage granted by Lender to any successor in interest of Borrower shall not operere to release. in any manner, ;
<br /> � the liabiliry of the original Borrower and Borrower's successors in inrorest. Lender shall not be required to commence �
<br /> proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> , � secured by this Mortgage by reason of nny demand made by the originat Borrower and Borrower's successors in interest. {`
<br /> � Il. Forbearance 6y Lender Not a Watver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> otherwise aHotded by applicable law, shall not be a waiver of 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 indebtedness secured by this Mortgage.
<br /> � 12. Remedies Comulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> } rcmedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br /> � 13. Saccesso�s and Assigns Bound; Joint and Sevenl I.ia67ity; Captlons. The covenants and agreemmis herein
<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. AII covenancs and agreements of Borrower shall be joint and several.
<br /> ' ' 'Ihe captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> � intecprot or deSne the provisions hereof.
<br /> 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br /> Borrower provided for in this Mortgage shalt be given by mailing such notice by certi6ed mail addressed to Bocrower at
<br /> � the Property Address or at such other address as Borcower may designate by notice to Lender as provided herein, aod
<br /> (b) any noHce to Lender shall be given by certified mail, retum receipt requested, to Lenders address stated herein or to
<br /> such other address as Lender may designate by 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 Morlgage; Goveming Law; Severa6itity. This form of mortgage combines uniform covenants for national
<br /> � usc and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> real property. This Mortgage shall be governed by the law of the jurisdiction in which the Propeny is located. In the
<br /> f event that any provision or clause of this Mortgage or the Note wnflicts with applicable law, such conflict shalt not affect
<br /> E other 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 to be severable.
<br /> � 16. Borrower'a Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> s of exewtion or after recordation hereof_
<br /> j 17. Transfer of the Property; AssumpKon. If all or any part of the Property or an interest thercin is sold or transfernd
<br /> 4 by Borrower without Lender's prior written consent, exctuding (a) the creation of a lien or encumbrance subordinate to
<br /> tr this Mortgage, (b) the creation of a punhase money security interest for household appliances, (c) a transfer by devise,
<br /> ? dexent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interat of three years or less
<br /> , � • not containing an option to purohau, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br /> ' immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> and t6e person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br /> � is aatisfactory to Lender and that the interest payable on the sums secured by this MoRgage shall be at such rete as Lender
<br /> '.� ehall requut. If L.eader hat waived the option to accelerate provided in this paragraph t7, and if Borrower's succesaor in
<br /> :t intereat has executed a writttn aesumption agreemmt accepted in writing by Lender. Lender shall release Borrower from all
<br /> y obligations under this Mortgage and the Note.
<br /> , � If Lender exercises such option to accderate, Lender shall mail Borrower natice of acceleration in acrnrdance with
<br /> � paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is ma�led within
<br /> � which Borrower may pay the sums declared due. If Borrower fails ro pay such sums prior to the expira6on of such period,
<br /> �, . Lendet may, without further notice or demand on Eorrower, invoke any remedies permitted by paragraph 18 hereof.
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<br /> � Nox-U[+t[+oeM Covetanrirs. Borrower and Lender further covenant and agree as follows:
<br /> 18. Accderatloo; Remedim. Facept as provided in paragraph 17 hereof, upon Borrowds 6rcach of any covenant or
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<br /> qreemeut o[ Borrower in thb Mortgage, including the covenants lo pay when due any sume secared by this Morfgsge,
<br /> Lmder pdor to accekraflon eha0 mafl notice to Borrower as provided in paragnph 14 hereot specifytng: (1) the breacA;
<br /> (2) the x4ion rrcqat�ed to cure we6 breach; (3) a date, not leffi thaa 30 days from the date the nodce is malled to Borrower, - � p �;
<br /> by which soch broach most be cune� and (4) that Eailurc to care such breach on or betorc t6e date speci8ed (n the notice
<br /> miq rdult io mekraflon ot t6e sau�s secured by this Morlga�e, foreclosurc by jodicial proceediog and sale � the Property. � �
<br /> Tbe noUce s6a11 tmther i�dotm Borrower o[ the rlght to xlnstate akv acceleration and !he cight W aesert io the foreclosure J `" �- �
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<br /> proceedtot the non�sxideo¢e of s defautt or rny other defeose oE Borrower to acceleradon and fomlosure. if t6e 6reach �;
<br /> b'not coied on or before the 'date speci8ed in the �rotiee, Lender af Lender's optbn may declare all of the sums secured by
<br /> t6is Mort�a�e to be immedfately dae aod paya6le wlthout [urlher demand and may foreclose by jndlcW proceediug. Lender ; . � � '.
<br /> sha116e entMled to oo1kM In soc6 proceedtc�g all expeoees ot Eo�eciosnre, tncln�og, but not limited to. cosfs oi docamentary .: .ra
<br /> ; evtdence, abtraefs aod tltle �epo►�b. . - ar. :.-.
<br /> 29. Eoeruwds Risht W Relodate. Notwithstanding Lender's accelerauon of the suma securcd by this Mortgage,
<br /> '.' Bor=ower s6a11 have the rl t to have an
<br /> i, gh y proceedings begun by Lender to enforce this Mortgage discontinued at any time
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