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<br /> Lender's written agteement or applicable law. Borrower shall pay the amount of alI mortgage insurance premiums in the
<br /> manner pYovided under paragraph 2 hereof.
<br /> � Any amounts disburaed by L.ender pursuant to this paragraph 7, with interest thereon, sliall become additional
<br /> indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender a e to other terms of
<br /> amounts shall be a able u � paYment, such ; ,
<br /> p y pon notice from Lender to Borrower requesting payment thercof, and shall bear interest from the �
<br /> date of disburseme�t at the tau payable from time to time on outstanding principal under the Note unless payment of ' "
<br /> � interqt at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the hi hest rate
<br /> f permiasible under applicable law. Nothing contained in this paragraph 7 shall require Lender to ineur any expense or take � '
<br /> t any action henunder. x
<br /> � 8• lnspecdon. Lender may make or cause to be made reasonable entries upon and inspections oP the Property, provided t ,
<br /> # that Lender shail give Borrower notice prior to any such inspeetion specifying reasonable cause thercfor related to LendePs `s
<br /> interest in the Property.
<br /> � 9. Condemnallon. The proceeds of any award or claim for damages, direc[ or consequential, 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 r
<br /> and shali be paid to Lender.
<br /> In the event of a total taking of the Property, the proceeds shali be applied to the sums secured by this Mortgage. �
<br /> with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br /> � otherwiu agree in writing, there shall be applied to the sums secured by this Mortgage such proponion of the proceeds
<br /> i as is equat to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> ' 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 ta 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 set8e a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed, Lender is suthoriud to collect and apply the praceeds, at Lender's option, either to restoration or npair of the
<br /> � Properiy or to the sums secured by this Mortgage. '
<br /> Unless Lender and Bonower otherwise agree in writing, any such application of proceeds to principal shall not extend i '
<br /> q or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of '
<br /> such installments. i
<br /> 3� 10. Borrower 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 shall not operete to release. in any manner, r.
<br /> ` � the liabiliry of the original Borrower and Borrower's successors in interest Lender shall not be required to commence € .
<br /> ; proce�dings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums > '
<br /> x secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. #` .
<br /> il. Forbearnnce by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or 'r`,
<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 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 Camulative. All romedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> � remedy under this Mortgage or afforded by law or equity, and may be exercised conwrrenUy, independenHy or successively. '
<br /> 13. Saccessora aod A t' ,
<br /> ssigns Bound; Joint and Several i,iabllity; CapHons. The covenants and agreements herein '
<br /> contained shall bind, and the rights hereunder shall inurc to, the mspective successors and assigns of Lender and Borrower, �Y `
<br /> subject to the provisions of paragraph t � hereof. All covenants and agreements of Borrower shall be oint and severaL ` F
<br /> The captions and headin p 8 P g g Y � 3 `c
<br /> gs of the aza ra hs of this Mort a e are for convenience onl and arc not to be used to .,.y
<br /> interpret or define the provisions hereof. +j.
<br /> 14. NoHce. Except fo[ any notice required under applicable ]aw to be giv�n in another manner, (a) any notice to �'
<br /> Borrower provided for in this Mortgage shall 6e given by mailing such notice by certified mail addressed to Borrower at w"
<br /> the Propecty Address or at such other address as Borrower may designate by notice to Lender as provided herein, and Y`
<br /> (b) any notice to Lender shall be given by certified mail, return reccipt requested. to Lender's address stated herein or to < i
<br /> such other addrcss as I.ender may designate by notice to Bonower as provided herein. Any notice provided for in this �p
<br /> Mortgage shall be deemcd to have been given to Borrower or Lender when given in the manner designated herein. '`;
<br /> 15. Uniform Mortgagr, Goveming Law; Seven6dity. This form of mortgage combines uniform covenants for national
<br /> ux and nomuniform coveeants wi[h 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 Property is located. In the
<br /> event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br /> other provisions of this Mortgage or the Note which can be given effect without the conHicting provision, and to this �,�„�
<br /> end the provisions of the Mortgage and the Notc are declared to be severable. „�;�
<br /> 16. Borrower's Copy. Bonower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordaHon hereof.
<br /> 17. Transfer o[ t6e Property; p�umption. If all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without L.ender's prior written consen4 excluding (a) the creation of a lien or encumbrahce subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for houuhold appliances, (c) a transfer by devise,
<br /> descent or 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 opHon to purchase, 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 acceterate 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 interat payable on the sums secured by this Mortgage sha11 be at such rate as Lender
<br /> shall request. if Lrnder has waived the option to accelerate provided in this paragraph 17, and if Borrower•s successor in
<br /> interut has executed a written assumption agreement accepted in writing by Lender, Lender shall retease Borrower from all
<br /> obligations under this Mortgage and ffie Nota
<br /> If Lender exercises such option to accelerate, Lender shall mail Borrower notitt of acceleration in accotdance with
<br /> paragraph 14 hereo£ Such notice shall provide a period of not less than 30 days from the date the notice is maz7ed within
<br /> which Borrower may pay the sums dxlared due_ if Boaower fails to pay such sums prior to the expiration of such period,
<br /> Lender may, without further noUce or demaad on Borrower, invoke any remediu permitted by paragraph 18 hereof.
<br /> Nots-UxttroeM Cpvexwr+rs. Borrow•er and Lender further covenant and agx as follows:
<br /> 1& Accderation; Remedks, I�SCcept aa pwvided in paraqrap6 17 hereof, upon Borrower's brcach of any covenant or '
<br /> atroemeat oE Borrower in t6is Mortgagq Indndt� tMe covenaots to pay when dne any auw se¢ui+ed 6y thie Mort�age,
<br /> Lender prior to acceleratlun sha0 mail �wUce to Borrower as provided In paragraph 14 hereof specifying: (1) t6e 6rcach; . . -----� , �a
<br /> (Z) t6e action requl�ed to corc suc6 brnc6; (3) a datq not less tdan 30 days from t6e dafe t6e notice is mailed to Borrower,
<br /> 6y �►hlch sueh bteae6 most be cared; aad (4) 16at failnrc fo curc aoch 6reach on or beforc the date speclRed io the nodce !`
<br /> may rean� In acceleratlon of the soan aecnred br this Mortga�{e, foreclosure 6y judtctal proceeding and sa/e of the Property. � ;�
<br /> Tbe notioe �ha0 torther L�torm BorroweY ot the,rlght, to relmWte after accelentbn aad the rtght to assert in the foreclaeore
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<br /> proc�dL� t6e noo�e:btence o[ a default or any other de[eme ot Borrower to accelerallon and [orcclosnre, If the Lreach � ^ ♦ t
<br /> fs mt esred on or betore the date speclBed In t6e noHce, Lender at Lender'a optlon may declare all of the sums securcd by � ��' �
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<br /> thh Moet�e to 6e Immediately due and paYable wlthont further demand aod may foceclose 6y jodictal proceedi�g. Londer ' '
<br /> �6d[ be mfi�ed to mtleM In sac6 ., •,,;.r
<br /> erMeace, abstrac�s and tltle [epoefs�� � ��� of foreclosurc. inclndlog, bu! not tlmked to, coats of doenmentary ,,,�. ., '
<br /> 19• Do�wet'q Ris6C to ReL�siata Notwithstanding Lender's accelerauon of the sums securcd by this Mortgage.
<br /> Borrower aha11 have ffie right to have any proceedings begnn by Lender to rnforce this Mortgage discontinued at any time
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