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<br /> 78- U00807
<br /> Lender's written agreement or applicable law. Borrower ahall pay the amount of all mortgage insurance premiums in the
<br /> ; manner pYovided under paragraph 2 hereof.
<br /> � Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional F,
<br /> indebtedness of Borrower secund by ffiis Mortgaga Unless Borrower and Lender agree to other terms of paymrnt, such
<br /> amounts shall be payable upon notice from Lender to Borrower requesting payment thercof, and shall bear interest from the '
<br /> � date of disburaement at the rau paysble from time to time on outstanSing principal under the Note unless payment of t `'
<br /> � interest at such rate wonld be contrary to applicabte law, in which event such amounta shall bear intcrest at the highest rate
<br /> � permiss�'ble under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any ezpenu or take �'
<br /> a any action hereunder.
<br /> 7 8. Impecdon. Lender may make or cauu to be made reasonable entries upon and inspections of the Property, provided '
<br /> ' � that I.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's E, ;
<br /> interest in the Property. ' '
<br /> 9. Ceadomnallon. The proceeds of any award or claim for damages, direct or consequential, in conneMion with any
<br /> �:: condemnation or other taking of the Property, or part thereaf, or for conveyance in lieu of condemnation, are hereby assigned
<br /> ' and shall be paid to Lender.
<br /> In the event of a total taking of the Property, the proceeds shall be npplied to the sums secured by this Mortgaga
<br /> with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, uniess Horrower and Lender
<br /> otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> aa is equal to that proportion which the amourtt ot the sums secured by this Mortgage immediately prior to the date of
<br /> taking bears ro the fair market value of the Property immediately prior to the date of taking, with the batance of the proceeds
<br /> � paid to Borrower.
<br /> 1 If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offen to make
<br /> � an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed. I.ender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or npair of the
<br /> ' Property or to the sums secured by this Mortgage.
<br /> � Unless Lender and Borrower otherwise agrce in writing, any such application of p�oceeds to principal shall no[ extend
<br /> 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. ''
<br /> '`` 10. Borrower Not Released. Extension of the time for p�ymrnt or modi8cation of amortization of the sums secured ;
<br /> by this Mortgage granted by Lender to any successor in interest of Borrower shall not operare to release, in any manner, '
<br /> 1': 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 rcason of any demand made by the original Borrower and Borrower's successors in interest
<br /> � ; 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or ':�
<br /> 1 otherwise afforded by applicable iaw, 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 I.ender's
<br /> � right to accelerate the maturiry of the indebtedness secured by this Mortgage. �
<br /> ' 12. Remedtes CumulaNve. All remedies provided in this Mortgage are distinct and cumulative to any othe� right or
<br /> ? remedy under this Mortgage or afforded by law or equiry, and may be exercised concurrently, independently or succeuively.
<br /> 13. Sacce�ors and Assigns Bound; Joint and Sevent I.iabillty; CapBons. 'Ilie covenants and agreements herein
<br /> 's contained shall bind, and the rights hereunder shall inure ro, the respective successors and assigns of Lender and Borrower, '�
<br /> � subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shnll be joint and several. �"'
<br /> The captions and headings of the paragraphs of this Mortgage are for convenience only and arc not to be uud to
<br /> � ; interprot 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 /> i ; Borrower provided for in this Mortgage shall be given by mailing such notice by certi8ed mail addressed to Borrower at
<br /> the Properry Address or at such other address as Bormwer may designate by notice to Lmder as provided herein, and
<br /> •` (b) any notice to Lender shall be given by certified mail, return receipt requested. to Lender s 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 dcemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> a ' 15. Unifocm Mortgagr, Governi� Law; Severabllity. This form of mortgage combines uniform covenanu for national
<br /> " ' use and non-unifortn covenants with limited variations by jurisdiction to constimte a uniform security instrument covering
<br /> nal property. 'This Mortgage shall be governed by the law of the jurisdiction in which the Properry is located. In the
<br /> evrnt that any provision or dause of this Mortgage or the Note conflicu with appticable law, such conflict shall not affect
<br /> other provisions of this Mongage 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 arn declared to be severabla
<br /> 16. Borrower's Copy. Borrower shall be furnished a confortned copy of the Note and of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> 17. TranaFer of the Property; Assamption. If all or any part of the Property or un interest therein is sold or transferred
<br /> by Borrower without I.ender's prior written consent, excluding (n) the creation of a lien or encumbrance 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 option to purchase, Lender may, at Lender's option, declare all the sums xcured by this Mortgage to be
<br /> immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or trarsafer, Lender
<br /> ' ' and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such pecson
<br /> ' ` is satisfactory to Lender and that the interest payable on the surns sewred by this MoRgage shall be at such rate as Lender
<br /> shall mquest. If Lender has waived the option to accelerete provided in this paragraph 17, and if Borsower's successor in
<br /> iaterest has executed a written assumption agrcement accepted in writing by Lender. Lrnder shall release Borrower from atl
<br /> obligations under this Mortgage and the Nota
<br /> If Lander exercises such option to accelerate, l.ender shall mail Borrower notice of acceteration in accordance with
<br /> paragreph 14 hereoF. Such notice shall provide a period of not leas than 30 days from the date the notice is mailed within
<br /> ; .; which Botrower may pay the sums declarcd due. If Borrower fails ro pay such sums prior to the upiration of such period.
<br /> ? Lrnder may, without further notice or demand on Borrower, invoke any remediu pertnitted by paragraph 18 hereof.
<br /> ` ' Now-Ux�poxnf CovexwNrs. Borrower and Lender Curther covenant and agree as follows :
<br /> 18. Acceleratlon; Remedtes. Fscept as provlded in paragraph 17 hereot, upon BorroMePs breacA of any covevaot or
<br /> t � agreement of Borrower ia t61s Morfgage, includl� the covenanta to pay when due any sums secuced by this Morlgsgq
<br /> .I.e�er pcior to acceleratioa eha0 maU nodce fo Borrower as provided in paregnph 14 hereof specifytng: (1) t6e breach; `
<br /> (2) the actlon reqntred W care aoc6 breach; (3) a date, not tess t6an 30 days from tbe date the notice is mailed to Borro�ver, _ ,- .
<br /> ' ' by w61ch such breach muet be enrcd; and (4) that failure to cure such breach on or beforc the drte speci8ed in the nodce : . . , j: e}�
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<br /> � ; ma� mnit in aceeleration of t6e sums securcd by tAis Mortgaqe, (oreclosarc 6y judicial proceeding aad sale of t6e Property. t -
<br /> ' �� The notice sLaO furfher inForm Borrower of the rigbt to reinatate after accdenHon snd the riRht to asxrt fa the forcclosure � � ;
<br /> ; proceeding t6e non-e�ctstence o[ a de[anit or any other defe�e of Borrower to acceleration and foreclosure. If the breach ! ' " >
<br /> j . is oot cnred on or betore thr date speclfied in tbe nodce, Lender at Lende�s optbn msy declare all of the sums securcd by .
<br /> , 3 � this Mortgia<e to 6e ImmedhRely due and payable without furl6er demand and may foreclose by judlclal proccedi�. Leader ? ' :,: �
<br /> � s4a�16e eoNtled to coltect in such proeeeding all expe�rees ot foreclosure, including, but not limked to, costs of documentary ` , a� • :
<br /> i evtdeoce. a6stracts aad dek reports. ;.::_�:-
<br /> , , 19. Eorrowet's Rtg6t to Reimtate. Notwithstanding Leoder's acceleration of the sums xecurcd by this Mortgage. � .u'r,' .
<br /> Boczower shalthave the xight to have any proceedings begua by Lender to enforce this Mortgage discontinued at any timc
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