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<br /> 7s- � � 1281 .
<br /> Lender's written agrcement or applicable law. Borcower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pYovided under paragraph 2 hereof.
<br /> + Any amounu disbursed by Lender pursuant to this paragraph 7, with intemst thereon, shall become additional
<br /> � indebtedness of Borrower secured by this Mortgage. Unless Bo�rower and Lender agree to other terms of payment, such '
<br /> ; amounts shall be payabte upon notice from Lender to Horrower requesting payment thereof, and shall bear interest from the
<br /> t date of disburxment at the rate payable from time to time on outstanding principat under the Note unless payment of �
<br /> interest at such rau would be contrary to applicable law, in which event such amounu shall bear interest at the highest rate
<br /> � permissible under applicable law. Nothing contained in this paragraph 7 shail require Lender to incUr any expenu or take
<br /> ; any aMion hereunder.
<br /> i S. inspecHon. Lender may make or cauae to be made reasonable entries upon and inspections of the Property, provided
<br /> ; that L.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> E interest in the Property.
<br /> , � 9. CondemmHon. 7'he proceeds of any award or claim for damages, dircct or consequential, m connection with any
<br /> ; f condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> f and shalt be paid to I.ender.
<br /> : ; In the event of a total taking of the Propeny, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> a 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 /> � t as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> teking 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 Borrowec
<br /> ' ; If the Property is abandoned by Sorrowec, or if. after notice by Lender to Horrower that the condemnor offers 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. L.ender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> - ; Property or to the sums sewred by this Mortgaga
<br /> Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> or pos[pone the due date of the monthly instaltments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> � such installments.
<br /> ! 10. Borrowee Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br /> ' I by this MoRgage granted by Lender to any successor in interest of Borrower shall not operate ro release, in any manner.
<br /> ! the Iiability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> - i 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 Waivee Any forbearance by Lender in exercising any right or remedy hereunder, 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 procuremeM 'of insurance or the payment of taxes or other tiens or charges by Lender shall not be a waiver of Lender's
<br /> (, rigfit to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> j 12. Remedies Camolative. All rcmedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> � remedy under this Mortgage or afforded by law or equiry, and may be exercised concurrently, independently or successively.
<br /> j' 13. Successon and Assigns Bound; Joint and Sevenl i.iablity; Captions. 1 he covenants and agreements herein
<br /> 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 77 hereaf. All covenants and agreements of Borrower shall be joint and several. _
<br /> i • The captions and headings of the pazagraphs of this Mortgage are for convenience only and are not to be used to
<br /> f; interpret or define ihe provisions heroof. _ '
<br /> 14. Notice. Excep[ for any notice required under applicable law to be given in another manner, (a) any notice to
<br /> , � Bortower provided for in this Mortgage shall be given by mailing such notice by certifted mail addressed to Borrower at
<br /> �! ffie 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, rewm receipt requested, to Lender's address stated herein or to
<br /> j such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> i' Mortgage shall be deemed to have been given to Borcower or Lender when given in the manner designated herein
<br /> , F 15. Uoiform Mortgage; Goveming Law; Severa6il(ty. 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 /> j' nal property. Thes Mortgage shall be governed by the law of the jurisdiction in which the Property is located. Tn the
<br /> [ event that any provision or clause of this Mortgage or the Note conflicts with applicable Iaw, such conflict shall not aftect
<br /> ' i other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> ' end the provisions af the Mortgage and the Note are declared to be severable.
<br /> ' 16. Borrowels Copy. Borrower shall be furnished a confortned copy of the Note and of this Mortgage at the time
<br /> ; j' of execution or after recordadon hereof.
<br /> i 17. Tramfer of t6e Prope�ty; AsaumpHon. If all or any part of the Pmperty or an interest theroin is sold or transferced
<br /> by Borcower without L,ender's prior written consent, excluding (a) the croation of a lien or encumbrance subordinate to
<br /> � this MoRgage, (b) the creation of a punhase 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 less
<br /> not containing an option to purchase. L.ender may, at Lender's option, declare all the sums secured by this Moctgage to be
<br /> ` ; immediately due and payabla Lender shall have waived such option to accelerate if, prior to the sale or tranafer, I.ender
<br /> 4 � 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 that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> i shall request If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> - � ' interest hss ezecuted a written auumption agreement accepted in writing by Lender, L.ender shall release Horrower from all
<br /> � obligaLiona under this MoRgage and the Nota
<br /> ` I ' If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> paragxaph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is ma�ed within
<br /> { which Horrower may pay the sums declared dua If Sorrower 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 hereof.
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<br /> ' Nox-Uta�Portaa CoveNeNTs. Borrower and Lender funher covenant and agrce as follows:
<br /> , a 1S. Accek�ation; Remedies. Except ae provided in paragraph 17 bereof, upon Borrower's 6reach of any covenant or
<br /> ageeemeot of Borrower in tLis Morlgage, includlog the covenants to pay when due any suma securcd by th[s Morlgage,
<br /> ` i ' I eadec pHor to accekration a6a11 mail noHce to Borrower as provided in paragraph 14 hereof specifying: (1) t6e breach; �
<br /> `; (2) the acfbn rcqoi�ed to curc sach breach; (3) a date, not leas than 30 days from tbe date the notice b mailed to Borrower,
<br /> " S ; by which sach breach must be cared; aud (4) that- fadnrc to cure sach 6reach on or beforc the date speclRed in the �ro8ce -�
<br /> mry resott ln accelerafion ot t6e su�m aecured by this Morlgaqe, forccloeurc by jadiclal proceeding aod sale of the Property_ r-- - �
<br /> �', Ttie uotice s6a� torther inform Borrower oE the rlght to rcinatate after acceleratloo and the rlg6t to asxrt (n the forecloeure
<br /> E ; proceedlu� t6e non-e:btence of a default or arty othu defe�e of Borrower to accderatton and foreclosure. If the brcsch + %
<br /> ' � is not cored 'on or be[ore t6e date speci8ed In the �w8ce, Lender at Lender's option may declare all of tbe sume xcund by I ; ` *
<br /> ; iWrMort�qe to br immedlatdy dm and pryabte wkhont furlher demand and may foreclose by jadicial proceediu�. Lender � ? •
<br /> ` � ' aidl be entltled to co0eet tn snch proceedi� a� eacpe�es ot forectosurc, inclndlog, 6ut not Ilmited to, caets o[ docameotary �
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<br /> ' f evWence, abstracb aod tltk xports. ° * ' ''_
<br /> ' Y9. Eorroweds RisM to Reinttate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage, ' � ";; ,�.
<br /> , ; ` Borrower ahall hatre thd right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time ` '� ` �°` '`"`"
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