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<br /> � s.� U01280 .
<br /> L.eader•s written agmment or applicable law. Borcower shall pay the amount of ali mortgage insurance premiums in the
<br /> � menner pYovided under paragraph 2 hereoE
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with iaterest thereon, shall become additional
<br /> a indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agme to other terms of payment, such
<br /> t amounts shatl 6e payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> � date of disbursement at the rate payable from time to time on outstan8ing principal under the Note unless payment of
<br /> i. interest at such rate would be wntrary to applica6le law, in which event such amounts shall bear interest at the highest rate 1 ;
<br /> � pertniasible under applicable law. Nothing contained in this paragraph 7 shall require Lender to iacur auy expense or take
<br /> any actioa hereunder.
<br /> ° S. 7nspectlon. Lender may make or cause to be made nasonable entries upon and inspections of the Property, provided
<br /> 3y 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. Condemoatlon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> � condemnation or other taking of the Propeny, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> and shali be paid to Lender.
<br /> , 7n the 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 Borrowec 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 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 vaiue of the Property immediately prior to the date of taking, with the baiance af the proceeds
<br /> � paid to Borrower.
<br /> If the Property is abandoned by Borrowec, or if, after notice by Lender to Borrower that the condemnor olfera to make
<br /> £ an award or settle a daim for damages, Horrower fails to respond to Lender within 30 days after the date such notice is
<br /> : mailed, Lender is authoriud to collect and apply the proceeds, at Lender's option. either to restoration or mpair of the
<br /> � Property ar to the sums secured by this Mortgage.
<br /> ; Unless Lender and Borrower otherwise 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 amount of
<br /> „ such installments.
<br /> -; q 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secund
<br /> � by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manneq
<br /> the liability of the original Sarrower and Borrower's successors in interest. Lender shall not be mquired 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 BorrowePs successors in interest.
<br /> � 11. Forbearaoce by Lemler Not a VVatver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> othecwisc affoided by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br /> � z The proeurement of insura�c� or the payment of taxes or other liens or charges by Lender shatl not be a waiver of Lender's
<br /> � nght to ;accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> ; � ' "72. Remediea CnmutaHve. All remediu pravided 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 concurren8y, independently or succeuively.
<br /> � 13. Successors and A�igns Bound; Joint and Several i.ia67ity; Cap6ons. The covenants and agreemenis herein
<br /> ,:q contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Horrower shall be joint and severaL
<br /> The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used 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 /> 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 other address as Borrower may designate by notice to Lender as provided herein, and
<br /> (b) any notice to Lender shalt be given by certified mait, return receipt requated, to LendePs 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 deemed to have been given to Borrower or Lender when given in the manner designated hercin.
<br /> 15. Uniform Mortgage; Goveming Law; Sevenbility. This form of mortgage combines uniform covenants for nationat
<br /> uu and non-uniform covenanta with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> � real propeny. This Mortgage shall be govemed by the law of the jurisdiction in which the Property is located. In the
<br /> event ihat any provision or clause of this Mortgage or the 1Vote conflicts with applicable law, such conflict shatl not affed
<br /> t 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 Note are declared to be severable.
<br /> 16. Borrower's Copy. Sorrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> � of execution or afrer mordadon hereof.
<br /> 1�. Transfer of ffie Property; Assumplton. If atl or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior written consent, ezcluding (a) the creation of a lien or encumbrance 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 intereat of three years or less
<br /> not containing an option to punhase, Lender may, at Lender's option, dectare alI the sums ucurcd by this Mortgage to be
<br /> , a • immediatdy due and payable_ 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 transferred reach agreement in writing that the credit of such person
<br /> is satisfactory to Lender and thut the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall reqnut. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> ;� interest has executed a written aasumption agreement accepted in writing by Lender. Lender shall release Horrower from all
<br /> y obligations under this Mortgage and the Nota
<br /> . � If I.ender ezercises such option to accderate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> - E paragtaph 14 hereof. 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 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 remedies permitted by paragraph t8 hcreof.
<br /> '; Norr-Ux�ronHt Cove*u�s. Borrower and Lender further covenant and agee as fotlows:
<br /> '� 18. AcceleraHoo: Reme�es. Fscept as provlded in paraRraph t7 hereof, upon Borrower's breach of any covenaot or
<br /> .';f agreement ot Borrower in this Mortgage, Includi� the covenants to psy when due any sums secured by thls Mortgage,
<br /> � I.ender prlor to accekration ahdl ma7 no8ce to Bortower as provided in paragraph 14 hereof specifying: (1) the breac6; t
<br /> (2) t6e acdoo :cyoired to care such breac6; (3) a date, not Ims than 30 days from the date the noKce Is mailed to Borrower,
<br /> ' 6y w61ch such brcach mod be cured; and (4) that failurc to cure such breach on oc 6eforc the date specified in the noKce � .
<br /> m�y resuit in aecekntlon of fhe eums secured by thta Mortg�e, Eorectosore by judicisl proceeding and sale of the Yroperfy. " `'�
<br /> � T6e aotloe shall fmther in[o�m Bo'env�er o[ the rJght to reinshte atter acceleradon and the right to assert in t6e foreclosare � >- �; , �
<br /> � proceedio� t6e non-e:tstence of s defadt or any other de[eme of Borrow�er to accelerstion and foreclosurc. If the breach 4 :� 5
<br /> '" b not caeed on or belore td'e date speci8ed ln tbr noHce, Lender at Lender's optbn may declac+e stl of t6e sums secured by
<br /> '� t6is Moif�e to be immedistdy doe and pryabk �vlthout fuither demsnd and may forcclase by judicfal proceeding. Lender '"' "
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<br /> ' shall be eatkled to colleet In suc6 proceedlug aQ upemes ot Foreclosure, including. but not llmHed to, ca�ts ot docnmentary s ' .' ,
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<br /> OY�lOCIt'1�CI6SOddvO.fGpOt1l� . �� � . . . . . . . . x `4 ,a,,.c.�
<br /> , ,� 19. .Borrawee's Ri�Lf. to ReinRata Notivithstanding Lepder's acceleration of the sums secured by this Mortgage, _;r�„
<br /> ` # - Horrower ahaII have the dght to have any proccedings begun by Lender to enforce this Mortgage discontinued at any time ' �
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