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<br /> 78- ' � f) 1 ' 0 $
<br /> Leader's written agnement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner ptovided under peragraph 2 hereof.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with intemst thereon, shail become additional
<br /> indebtedness of Borrower secund by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> amounts sflall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from the
<br /> r date of disburaement at the rate payable from time to time on outstanding principal under the Note uniess payment of ;
<br /> interest at auch rate would be contrary to applicable taw, in which event such amounta shall bear interest at the highest rate
<br /> permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take '
<br /> � any action hereunden �
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<br /> 8. ImpecBon. 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 ia the Property.
<br /> 9. Coodemnatton_ The proceeds of any award or claim for damages, direct 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
<br /> and shall be paid to Lender.
<br /> In the event of a total taking of the Properry, 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 partia! takirtg of the Property, untess Sorrower and Lender
<br /> otherwise agree in writing, therc shall be applied ro the sums secured by this Mortgage such proportion 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 /> 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 Borrower.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the wndemnor 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 ia
<br /> mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restorallon or repair of the
<br /> Property or to the sums secured by this Mortgage.
<br /> � IJnless Lender and Borrower atherwise agree in writing, any such application of proceeds to principal shall not extend ' '
<br /> or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amoimt of � '
<br /> ' such inatalimrnts.
<br /> : 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 shatl not operate to release, in any manner,
<br /> , the limbility of the original Borrower and Borrower's successors in interest Lender shall not be rcquired to commence ?
<br /> ' i proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of ffie sums
<br /> secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br /> 11. For6esnnce by Lender Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> othe�vise 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 tnaturity of the indebtedness secured by this Mortgage.
<br /> ; 12. Remedles CamutaHve. AlI rcmedies 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 concurrently, independently or successively.
<br /> ' 13. Successo�s aad A�igns Bound; Jolnt and Several Lia6tfity; Cnptlons. The covenants and agreements herein
<br /> ` contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lmder and Borrower,
<br /> subject to the provisions af pazagraph 17 hereoF. A(1 covenants and agreements of Borrower shall be joint and several.
<br /> The eaptions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> ` interpnt or define the provisions hereof.
<br /> ' � ZA. Notice, Eacept for any notice required under applicable law to be given in another rnanner, (a) any no[ice to
<br /> � Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br /> �� the Property Address or at such aher address as Borrower may designate by notice to Lender as provided herein, and
<br /> '. � (b) any notice ro Lender shall be given by certified mail, retum receipt requested, to Lender's addreas 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 /> 'S Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner daignated herein.
<br /> � 15. Uniform Mortgage; Governtng Law; Severability. This form of mortgage combines uniform covenants for national
<br /> � use 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 Iaw of the jurisdiction in which the Property is Iocated. In the
<br /> ; event that any provision or clause of this Mongage or the Notc conflicts with applicable law, sueh conHict shall not affeM
<br /> i other provisions of this Mortgage or the Note which can be given effect without the conflicting provuion, and to this
<br /> ; end the provisions of the Mortgage and the Note are declared to be severabla
<br /> 'f 16. BorrowePs Copy. Burrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> '+ of execution or ake� recordation hereof.
<br /> ' 17. TraavEer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br /> ; by Borrower without Lender•s prior written consent, excluding (a) the cmation of a lien or encnmbrance subordinate to
<br /> '� this Mortgage, (b) the creation of a purchase money security interest for household 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 tess
<br /> j , not containing an opdon to purchase, Lender may, at Lender's option, declare all [he sums ucurcd by this Mortgage to be
<br /> immediately due and payabte. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> and the person to whom the Property is to be sold or transfermd reach agreement in writing that the credit of such person
<br /> is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrown's successor in
<br /> interest has exxuted a written assumption agreement accepted in writing by Lender. Lender shall release Sorcower from all
<br /> obligations under this MoRgage and the Nota
<br /> Tf Lender exercises such option to acceterate, Lender shall mail Horrower notice of acceleration in accordance with
<br /> paragraph 14 henof. 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 to pay such sums prior to the expiration of such period,
<br /> Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hercof.
<br /> Nox-Ur�rFoxM Cpvex�xTs- Borrower and Leader further covenant and agree as follows:
<br /> 18. Accderatioo; Remed(es. E:cept as provided in paragnph 17 hereof, upon Borrower's bceach of any covenant or
<br /> agreement o[ Borrower in thb Mortgage, includt� the covenants to pay w6en dae any sums aecurcd by this Mortgage,
<br /> Lender prlor to acceleraHon sha11 ma1l notice to Borrower as provided in parsgraph 14 6ercoE spccifyt�g: (1) the 6reach;
<br /> (2) � �von *'Mdred to enre sac6 breac6; (3) a dste, not le� than 30 days from the date the notic� Is mdled to Borrower,
<br /> by whicL wc6 6reach must 6e cured; and (4) that failure to cure suc6 breach on or 6efose the date speci6ed in the nodce
<br /> may resalt in accelenNon ot t6e su�nv secveed by this Mortgaqe, foreclosurc by jodlcial proceedleg snd sale of the Property. �
<br /> T6a notitt sha11 forther inform Borrower oE the right to rcL�stafe aHu accderatlon aad the rig6t to assert in t6e foreclosure
<br /> procee�g t6e aoo-exbtence oi a deEault or any otl�er defeose of Borrower to acce/eratlon and Ponclosure. II the breach
<br /> 4, (s not mred on or 6eEone the date speciBed to the noNcq Leoder at I.endePa option may declarc ap of the sums secured by
<br /> thk Mortgage to 6e immediately due and payable wtthont turt6er demand and may foreclose by judicial proceed(ng, I,eoder
<br /> °�d� b� �ntkkd to ao6eC� tn soch Proceediog all eacpeoses o[ foreclowre, I�tudi�, but not limhed to, costs of documeotary
<br /> evldenci, �bstraets a� Utk reporla.
<br />- 19. Borrowe�e Ris6t W Reimkata Notwithstanding I.ender's acceleration of the sums secured by this Mortgage.
<br /> Bortower shall }iave We right to l�ave any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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