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<br /> Lender's written agreemrnt or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pfovided under paragraph 2 6ereof.
<br /> Any amounts disburaed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> indebtedness of Borrower secured 6y this Mortgage. Unless Borrower and Lender agne to other terms of payment, such
<br /> + amounts shall be payable upon notice from Lender ro Borrower requesting payment thereof, and shall bear interest from the ;
<br /> �t' date of disbursement at the rau payable from time to time on outstanding principal under ffie Note uniess paymmt of `
<br /> t 'f interest at avch rate would be contrary to applicable law, in which event such amounts shall bear interat at the highest rate �
<br /> k permisaible under applicable law. Nothing contained in this paragraph 7 shall requin Lender to incur any expense or take
<br /> � any aMion hereunder. 'r
<br /> 1 8. Inspectlon. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
<br /> � that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> interest in the Property. ,
<br /> '' 9. Condemoadon. 7'he procceds of any award or claim for damages, direct or consequential, in connection with any
<br /> j 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 Lender.
<br /> ? In thc event of 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 Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br /> otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> ' as is equai to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> t taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br /> ' paid to Bomowec
<br /> If the Property is abandoned by Horrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br /> � an award or settle a claim for damagu, Borrower faits to respond to Lender within 30 days after the date such notice is
<br /> ' mailed, Lender is authoriud ro collect and apply the proceeds. at I.ender's option, either to restoration or repair of the
<br /> , Property or to the sums sewred by this Mortgage.
<br /> � Uniess Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shatl not extend
<br /> or postpone the due date of the monthly instal�ments referred to in paragraphs 1 and 2 hereof or change the amount of i%
<br /> i such installmenu. �'
<br /> 3 10. Borrower Not Reteaved. 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 Borcower shall not operate to release, in any manner,
<br /> the liability of the original Borrower and Borrower's successors in interest. 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 any demand made by the original Borrower and Borrower s successors in interest.
<br /> ; 11. Forbearance by Lender Not a Waiver. Any forbearancc by I_ender in exercising any right or remedy herounder, 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 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 CamulaNve. 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, independentty or successively. ;`
<br /> � 13. Saccessors and Aseiqns Bound; Joint and Several i.iab7ity; CspBo�. The covenants and agreeme�ts herein
<br /> ; contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br /> t subject to the provisions of paragraph 17 hereof. All covenants and agreemen[s of Borrower shalt 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 /> ; interpmt or define 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 shall be given by mailing such notice by certifled mail addressed to Borrower at
<br /> � the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br /> � (b) any notice to Lender shall be given by certified mail, return reccipt requested, to Lender's address stated herein or to
<br /> � such other address as Lender may designate by notice to Borrower as provided hemin. Any notice provided for in this
<br /> Mortgage shall be deemed to have been givm to Borrower or Lender when given in the manner designated herein.
<br /> ; 15. Uniform Moctgagr, Governing Law; SeverabitHy. This form of mortgage combines uniform covenanu for national
<br /> i use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform securiry instrument covering
<br /> � real property. 7'his Mortgage shall be governed 6y the Iaw of the jurisdiction in which the Property is located. 1n the
<br /> event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conHict shall not afiect
<br /> � 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 Notc are declared to be severabte.
<br /> � 16. ' BorrowePs Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> 3 of execution or after recordation hereof.
<br /> � 1�. Transfer of the Property; A�umption. If alI or any part of the Property or an interest thercin is sold or transferred
<br /> by Borrower without Lender's prior written consent, excluding (a) the cmation of a lien or encumbrance subordinate to
<br /> , this Mortgage, (b) the creation of a purchasc money securiry interest for houschold appliances. (c) a transfer by devise,
<br /> � descent or by operation of law upon the death of a joint tenaut 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 aIl the sums secured by this Mortgage to be
<br /> - � immediatdy due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
<br /> i and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such pe:son
<br /> E is satisfactory ro Lender and that the interest payable on the sums sewred by this Mortgage shalt be at such rate as Lender
<br /> ; sUall request. If Lender has waived the option to accelerate provided in this paragraph ] 7, and if Borrowers 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 the Note.
<br /> , If Lender exerciscs such option to accelerate, Lender shall mail Borrower 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 Borrower may pay the sums declared due. If Borrower fails ro pay such sums prior to the expiration of such period,
<br /> � Lender may, without further notice or demand on Borrower, invoke any remediu permitted by paragraph 18 hereof.
<br /> j. NoN-UnnFortet CovexeNrs. Borrower and L.ender furcher covenant and agree as follows:
<br /> ' 1& Acceleration; Remedies. Ezcept a4 provided in paragnph 17 6ereof, upon Borrower's brcach of my rnveaant or
<br /> agmment of Borrower in this Morlgage, Including the covenants to pay w6en due any snms secared by this Mortgsge, '
<br /> Lender pdor to accekrstion a6a1! mafl 'notice to Borrower as provided in paraqnph 14 hereof specifying: (1) the brcach; !
<br /> (2) fbe action required to curc euch breach; (3) a date, not leas than 30 days from tAe dah the notice is mailed to Borrower, ,�
<br /> � by whlch sucL bceach most be cured; aod (4) that fsilure to cure such brcach on or beEore the date spceified In the notice __ _ " ,
<br /> inay result io accderatlon of the sums securcd 6y this Mortga�e, foreclosure by judicial proceedl� aod sale of the Property. ,�r t
<br /> � . 1�e nodce eball htr[6er inform Borrower oE the right to relnstate after acceleretion snd the right to assert tn tt�e foreclosace � ; ;
<br /> proceedto� thb non-exbteoce ot a delault or any ot6er detense of Borrower to accderallon and forcclosurc. If the brcac6 T '
<br /> is aot cnrcd on or beforo the date �peciBed in the noHce, Lender at Lender's optiom m�y declare aU of the sums securcd by +_
<br /> � /Vb Mortgsge to be Immediatdy due and payable without furlher demand and may foreclase by judlclal pwceeding. I.ender � � �
<br /> 3 sLa116e eudtled to rnllect in eoch proceeding all e�cpermes of foreclosure, locluding, bat not llmited to, co�ts of documentary s. ' y� . �; `
<br /> E e�idence�abatrscts and title reports. < ' _' , r,
<br /> ' 19. Eorrower's Right to Relmtata Notwithstanding Lender's acceleration of the sums securod by this Mongage. �=' ` t
<br /> ' Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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