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<br /> Lender's written agrcemeqt or applicabie law. Borrower shall pay the amount of atl mortgage insurance premiums in the
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<br /> : maaner pYovided under paragraph 2 hereof. p
<br /> � Any amounb disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> � indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such �
<br /> � � ' amounts ahall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the �
<br /> � date of disbursement at the rate paya67e from time to time on outstanding principal under the Note uNess paymrnt of F� '
<br /> � interest at auch rau wouid be contrary to applicable law, in which event such amounts shall 6ear interest at the highest rate �`
<br /> ' � permisn'ble under applicable 1aw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> r—� any action hereunder. � "
<br /> 3 ' � S. Inspectlom 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 /> � r interest in the Property. � .'
<br /> � 9. Condemnallon. 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 wndemnation, are hereby assigned `'
<br /> j and shall be paid ta Lender.
<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 excess, if any, paid to Borrower. 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 equai to that proportion which the amount of the sums secvred by this Mortgage immediately prior to the date of t
<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 condemnor offen to make
<br /> i an award or settle a claim for damages, Bo�rower fails to respond to Lender within 30 days after the date such notice is
<br /> t maited. Lender is authoriud to coltect and apply the proceeds, at Lender's opNon, either to restoration or mpair of the ��
<br /> ; Property or to the sums securcd by this Mortgage. �"
<br /> � Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> , i or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 henof or change the amount of
<br /> j such instaliments.
<br /> t 10. Borrower Not Rdeased. Extension of the time for payment or modification af amortization of the sums secund �
<br /> � 6y this Mortgage granted by Lender to any successor in interest of Borrower shati not operate to release, in any mannet, �`
<br /> � 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 otherwisc modify amortization of the sums �
<br /> secured by this Mortgage by reason of any demand made by the original Borcower and Borrower's successors in interest.
<br /> 1 ]. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exemising any nght or remedy hereunder, or f:
<br /> � otherwise afforded by applicable law, shall not be a waiver of or predude 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 k�
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage. :°
<br /> 12. Remedies CamulaHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or M�=
<br /> remedy under this Mortgage or aftorded by law or equiry, and may be exercised concurrently, independently or successivdy. �":
<br /> 13. Successors and Assigns Bound; Joint and Several I.iabHity; Captioas. The covenants and agreemenu herein t�. .
<br /> contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, r'
<br /> subject to the provisions of paragraph 17 hereof. Alt covenants and agreements of Borrower shall be joint and several. �
<br /> 'Il�e captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to �
<br /> interpmt or define the provisions hereof.
<br /> 14. NoKce. Except for any notice required under applicable law to be given in another manneq (a) any notice to *
<br /> Borrower provided for in this Mortgage shall be given by maiiing 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 hercin, and �'
<br /> (6) any notice to Lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to �i �t
<br /> such other addreu 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 I,ender when given in the manner designated berein. �'
<br /> IS. Uniform Mortgagr, Goveming Law; Severabtlity. This form of mortgage combines uniform covenanu for national �
<br /> use and non-uniform covenants with limited variations by jurisdiction to constimte a uniform security instrument covering ,sl
<br /> real properry. This Mortgage shall be governed by the law of the jurisdiction in which the Property is tocated. In the
<br /> event that any provision or clause of this Mortgage or the Note confticis with applicabte law, such conflict shall not affect "
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and ro this
<br /> rnd the provisions of the Mortgage and the Note arc declared to be severable.
<br /> 16. BorrowePs Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordatian hereof.
<br /> 17. Transfer of the Property; AssumpNon. If all or any part of [he Property or an interest therein is sold or transferred
<br /> by Borrower without Lender•s prior written consent, excluding (a) the creation of a lien or encumbrahce subordinate to
<br /> this Mortgage, (b) the creation of a purchase monry security interest for household appliances, (c) a transfer by deviae,
<br /> descent or by operation of law upon the death of a joint trnant or (d) the grant of any Ieasehold intcrest of three years or less
<br /> not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br /> immediately 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 ffie Property is to be sold or transferred reach agreement in writing that the credit of such peison
<br /> is satisfaoWry to Lender and that the interest payablc on the sums secured by this Mortgage shall be at such rate as Lender
<br /> � � shall request. 7f 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 releau Borrower from all
<br /> obtigations under this Mortgage and the Nota
<br /> If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> paregraph 14 hereo£ Such notice shall provide a period of not less than 30 days from the date the nodce is mailed 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 /> � Lendcr may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> Norv-LJr��rorttH Covex�xrs. Borrower and Lender further covenant and agree as follows:
<br /> 18. Accderaflon; Remedles. Except as provlded in paragrapA 17 hereof, upon BorrowePa breach of any covenant or �
<br /> - agreement of Borrower in thls Morlgage, Iqclodi� fhe covertanta to pay wden due any aums secured by t6is Mortgage,
<br /> +' Leoder prior to accekratlon shatl mall notice to Borrower as provided in paragraph 14 hereof specifying: (1) tAe brcach;
<br /> (� the aeflon required to cure such 6reach; (3) a date, not lesc than 30 days from the date the noNce fe mailed to Borrower, � c^-' " �,` .
<br /> by wl�&h sach b�esctc mmt be cured; aad (4) t6at .faOurc to cure euch breach on or 6eforc t6e date speclfled in the noNce .�%
<br /> � may resalt in acceleraHoo of the surt�s secured by this Mortgage, forectosure by judlctal proceeding and sale o[ the Property. � " '„
<br /> ; TLe notice +hall tnrt6er Inform BoQower of the rlg6t to rclnsfate after accde`ation aed the rtght to asseR io t6e foreclasure J � ' ' �
<br /> ' ' pioceediog t6e non-ezlsteuce, of a default or aay otber deferue of Borrower to accderatton and foreclosarc. If the breach ��� ',:
<br /> 7s:not cnred on or 6e[ore We'date specified in the notice, Lender at Lender's opdon may declare all of the aums secured by � '�,
<br /> �is Mort�qe to be immedlahiy doe aod psyoble without Enrther demand and msy forecloee by judtclal proceeding, Lender } + ,u< � '
<br /> ahall be mtWed to coQeM fo such roc ,* •
<br /> p eedi� all e�cpensea of forecloavrc, incladiug, bnt not Hmlted to, caata of documentary . z� y � `a�
<br /> ` evldence, abstracb aod tlUe reporb.
<br /> � 19. ; Eorrnw�ee's Rl�6t to Relmtate.: Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br /> Bor[Owet Sha11 have the rlgh[ to have any proceedings begun by Lendw ro enforce this Mortgage discontinued at any time
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