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<br /> ' Leader's written agreemeat or applicable Iaw. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> ; manner provided under paragraph 2 hereof_
<br /> J ' Any amounts disburaed by Lender pursuant to this paragraph 7, with interest thereon, shali become additional
<br /> # indebtedness of Borrower secured by this Mortgage. Unless Borcower and Lender agtte to other terms of payment, such
<br /> � amounts shall be payable upon notioe from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> date of.disbursement at the rate paya6le from time to time on ontatanding principal under the Note unleu payment of �, '
<br /> interest at 'auch rate would be contrary to applicable law, in whsch event such amounts shall bear interest at the highest rate '
<br /> � Q� permiau'ble under applicable law: Nothing contained in this paragraph 7 shall require Lender to incur aay expense or take , .
<br /> � any action hereunder. �„
<br /> � Qj 8. InspeMion. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided � ;
<br /> €. 0 . that Lender shall give Borrower notice prior to any such inspection specifying reasonabte cause therefor related to LendePs E "
<br /> ,, , � _ interest in the Property. •
<br /> fi. , � 9. CondemnaQon. 'The proceeds of any award or claim for damages, direct or consequential, in connecrion 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 sha11 be paid to I.endea E
<br /> ^ In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage. "
<br /> � with the ezcess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender �"
<br /> otherwise agrce in writing, there shall be applied io the sums secured by this Mortgage such proportion of ihe proceeds t'
<br /> aa is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to rhe date of k '
<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 /> � paid to Borrowea ��
<br /> � � If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor of[ers 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 E
<br /> � mailed, Lender is auffioriud to collect and apply the proceeds_ at Lender's option, either to restoration or repair of t6e �-
<br /> � Property or to the sums secured by this Mortgage.
<br /> Unless Lender and Borrower othenvise agree in writing, any such application of proceeds to principal shall not extend �
<br /> or postpone the due date of the monthly installments refecred to in paragcaphs i and 2 hereof or ehange the amount of %,:
<br /> y such instaliments. � , '
<br /> � 10. Borrower Not Relensed. 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 operate to mlease, in any manner.
<br /> f ihe liability of the original Borrower and BorrowePs successors in inreresi. Lender shall not be required to commence �
<br /> � proceedings against such successor or refuse to extend time for payme�t or otherwise modify amortization of the sums �
<br /> � secured by this Mortgage by reason of any demand made by the original Borrower and BorrowePs successors in interest. ��
<br /> 17. For6eannce 6y Lender Not a Waiver. Any forbearnnce by Lender in exercising any right or remedy hereunder, or �
<br /> otherwise afEorded by applicabie iaw, shall not be a waiver of or preclude the exercise of any such right or remedy. ;,� '
<br /> 'Ihe proeurement of insurance or the payment of taxes or other tiens or charges by L,ender shall not be a waiver of Lender's .`
<br /> . ,rigfit to ,acceterate the maturity of the indebtedness secured by this Mortgage. +'
<br /> ` 12. ' Remedies Cumolative. All remedies provided in this Mortgage are distinct and cumulative ro any other right or j
<br /> ' " i�emedy u""nder Yhis'Mortgage or afforded by law or �quity, and may be exercised concurrently, independenNy or successively. '�
<br /> 13. Sncce�o�a and Asstqns Bound; Joi�t and Several i,iabiiiry; CapBoes. The covenants and agrcements herein :
<br /> contaiaed shall bind, and the rights hereunder shall inure to, the respective successors and assigns oP Lender and Borrower, �
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. }
<br /> The captions and headings of the paragraphs of this Mongage are for convenience only and arc not to be used to �
<br /> interprot or de8ne the provisions hereof.
<br /> I4. NoHce. Except for any notice rcquired 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 certi8ed mail addressed to Borrower at �
<br /> tt�e Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and �
<br /> (b) ang notice ro Lender shall be givm by certiBed mail, retum receipt rcquested, to Lender's address stated herein or to � ��
<br /> snch other addras as Lender may designate by notice to Borrower as provided herein. Any notiee provided for in this
<br /> Mortgage shall be dcemed to have been given to Borrower or Lerider when given in the manner designated herein.
<br /> 15. UnHorm Mortgage; Goveming Law; Severabtlity. This form of mortgage combinu uniform covenants for national
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute a unifortn security instrumrnt 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 clauu of this Mortgage or the Note conflicts with applicable law, such conHict shall not affect
<br /> other provisio�s of this Mortgage or the Note which can be given eRect without the conflicting provision, and to this
<br /> end ffie provisions of the Mortgage and the Notc arc declared to be severable.
<br /> Y6. BomowePs Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of eaecution or aher mordation hereof.
<br /> 17. Tnaafer of t6e Property; Aesumption. If alI or any part of the Propeny or an interest therein is sold or transferred
<br /> by Borrower without I.ender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to
<br /> this Mortgage, (b) the creation of n purchase monry security interest for household appliances, (c) a transfer by devise.
<br /> descmt 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 purehase, Lender may, at Lender's option, dedare all the sums securcd by thia Mortgage to be
<br /> immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or tranafer, Lender
<br /> and the person to whom the Property is to be sold or transfernd reach agreement in writing that the credit of such person
<br /> is satisfactory to L.ender and that the interut payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> ahall request. If Lender has waived the option to acceterate provided in this paragraph 17, and if Bortower s successor in
<br /> interest has executed a written assumption agreement accepted in writing by Lender, Lender shal! rclease Borrower from al!
<br /> ob]igatioas under this Mortgage and the Note.
<br /> If I.ender exercises such option to accelwate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> paragraph ]4 hereof. Such notice shaU provide a period of not less tha� 30 days from the date the notice is ma7ed within
<br /> which Bomower may pay the sums declared due. if Borrower fails to pay such sums prior to the expiration of such period,
<br /> Ixnder may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hercof.
<br /> Nox-Uatrortat CovenrwNrs. Borcower and Lender further covenant and agree as follows:
<br /> 18. Accele�allon; Remedies. Eicept as provlded in pnragnpL 17 hereof, upon Borrower's bnac6 of any covenant or
<br /> agreemeot of Borrower in ffiis Mortgsge, inclodl�g the covenants lo pay wben due any sums secured by thLs Mortgagq t
<br /> �a�� P�� � ���n sha� mall notice to Bo�rower as provided in paragraph 14 hereof specl[ytog: (1) t6e breacb;
<br /> (11 the aefbn`reqnircd to cure eoc6 breach; (3) a date, not le� than 30 days from fhc date the notice Ls malled to Borrower,
<br /> by whic6 mc6 brcach must be cored; and (4) that faHun to care wch brcach on or before t6e dste speciRed in the no8ce � `4^ -
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<br /> m*y rdntt in accderaHon ot the snms aecurcd by thts Morlgaqe, foreclosurc by judlcial proceediig and sale of the Property. " �
<br /> The notice s6rH forther iatorm Bomower o[ the right to roL�state aAter accderatlon aad the dght to assert in t6e fomlosare I '
<br /> P��` �Q noo-exietence oE a defantt or aay 'other defe�e of Borrower to accelerallon and foreclosure. if the 6react� J � ;- , ,
<br /> ls not'cnred on or befo�e fhe date specified in the notice, I,ender'at Le�er's opNon may declare a0 of the sums securcd by j=';� ;:,
<br /> thisMort�e:bo 6e immeaiately due and payabte without furlher damand aod may forecloec by jud7clal proceediug. Lender ; '
<br /> ahadl be entltle� to collec! in soch' proceeding a1I expenses ot foreclosurc, Induding, 6ut not limlted to, cosfs of docamentary ` '
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<br /> lY�dlOCl� a�1'�L�! 9q� dV! Z'lpON/. �. . . . . . . . ., � "er✓
<br /> 19. Bo+rnwea's Ri�6t to Relmtafe. ' Natwithstanding Lender's accelwation of the sums secured by this Mortgage, �µ
<br /> ; ' Bottower eha11 have ffie :ight to' have azry proceedings begun by Lender to enforce this Mortgage discontinued at any time
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