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<br /> �s-�= �� U 1411
<br /> ' ', Lender's written agreement or applicable law. Borrower shall pay the amount of ali mortgage insurance premiums in the
<br /> manner pfovided under paragraph 2 hereof.
<br /> . � Any amounts disbursed by I.ender pursuant to this paragraph 7, with interest thereon, shall become additionel
<br /> � indebtcdness of Sortower secund by this Mortgage. Unless Horrower and Lender agne to other terms of payment, such
<br /> amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the �
<br /> date of d'uburaement at ihe rste payablo from time to time on outstanding principal under the Note unless payment of
<br /> I intercst at such rate would be contrary to applecable law, in which event such amounts shall bear interest at the highest rate
<br /> � permisai"ble under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any eapense or take
<br /> � any action hereunder.
<br /> 8. L�specHon, tender may make or cause to be made reasoneble 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 in the Property.
<br /> 9. CondemnaHon. 7'F�e proceeds of any award or claim for damages, direct or consequential, in connectio� with any
<br /> condemnation or other taking of the PropeRy, 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 Property, the proceeds shalt 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 shalt be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is eqe�a! to that proportioa which the amounr 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 tuking, with the balance of the proceeds
<br /> � paid to Borrower.
<br /> If thc Property is abandoned by Borrower, or if, after notice by Lender to Horrower that the condemnor oHers to make <
<br /> an uward or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such noticc is
<br /> . f mniled, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> ` ' Properry or to the sums seeured by this Mortgnge.
<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 paregraphs 1 aad 2 hereof or change the amount of
<br /> � such installments.
<br /> i10. Borrower Not Released. Factensioo of the time for payment or modification of amortization of the sums securcd
<br /> � by this Mortgage granted by Lender to any successor in interest of Boaower shall nat operate to 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 /> proceedings against such successor or refusc to extend time for payment or otherwise modify amortization of the sums
<br /> : E secured by this Mortgage by reason of any demand made by the original Borrower und Borrower's successors in ioterest.
<br /> � ll. Forbwronce by Lender Not a Waiver. Any forbearence 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 procurement of insurartce or the payment of taxes or other Iiens or charges by Lender shnll not be a waiver of Lender's �
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> � 12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or r
<br /> � remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively. !
<br /> 13. Soccessors and Asslgns Bound; Joint and Several Liabaity; Captlons. The covenants and agreemenis herein
<br /> contained shall bind, and the ri ts hereunder shall inure to, the res °
<br /> � Bh pective successors and assigns of Lender and Botrower, .�,
<br /> , � subject to the provisions of paragraph 17 hereof. All covenants and agreements of Sorcower shall be joint and severat. ;
<br /> The captions and headings of the parngraphs of this Mortgage are for convenience only and are not to be used to
<br /> � interpret or define the provisions hereof.
<br /> ` + 14. NoNce. Except for any notice required under applicable law to be given in another marmer. (a) any notice to
<br /> ': � Borrower pmvided for in this Mortgage shall be given by mailing such notice by certiSed mail addressed to Borrower at
<br /> " i 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 shall be given by certified mail, retum receipt requested, to LendePs address stated herein or to '
<br /> � such other address as Lender may designate by notice to Borrower as provided hereirt. Any notice provided for in this `'
<br /> Mortgag� ahall be deemed to have been given to Horrower or Lender when given in the manner designated herein.
<br /> 15. Uniform Mortgage; Goremi� Law; Severa6ility. This form of mortgage combines vniform covenanu for national �
<br /> � use and non-uniform covenants with limited variations by jurisdiction to constitute a unifortn security instrument covering j'
<br /> : resl 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 dause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br /> � other provisions of this Mortgage or the Note which can be given efEect without the conflicting provision, and to thie
<br /> � end the provisions of the Mortgage and the Note are declared to be severable.
<br /> 5 � 16. BorrowePs Copy_ Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> � of execu6on or after recordation hereof.
<br />�` } 17. Transfer of the Property; Aasumptlon. If all or any part of the Property or an interest therein is sold or transferred
<br />;. � by Borrower without L,ender's prior written consent, eacluding (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 deviae,
<br />� p 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 opdon to purchase, Lender may, at Lender's option, dectare all the sums secured by this Mortgage to be
<br />' .� immediately due and payabla Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />, � and the person ro whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br /> is aatisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> sfiall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's sucaessor in
<br /> ! interest has ezecuted a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />` � obligations under this Mortgage and ffie Note.
<br /> � If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> � paragraph 14 heicof. Such notice shall provide a period of not less than 30 days from the date the notice is ma�ed within
<br /> which Borrower may pay the suma 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 hereof.
<br />' � Nort-Urr�aoxM Coverrw�vrs. Borcower and Lender further covenant and agree as followa:
<br /> � 18. Accde�ioo; Remedtea. L+�cept as provided in paraRroph 17 hereof, upon Borrower's brcach of any coveoant or
<br /> agreement ot Borrower in this Morfgage, includiug the covenants to pay when due any sume aecared 6y this Mortgage,
<br /> ,�, Lender prior to accekraHon s6all maD no8ce to Borrower as p�ovided ia pa�agraph 14 hereoE specifying: (1) tbe 6reach;
<br /> (2) t6e actton e�eqdn�d to cme sncL 6reach; (3) a date, not leas than 30 days from t6e date the notice is malled to Borrower, �,,;
<br /> by which anch breac6 m�t be emed; and (4) that taLurc to cure such 6reach on or before t6e date speclfled fn t6e no6ce
<br /> � may resolt. in accderation ot Me aa�ro securcd 6y thls Morlgaqq foreclosarc by jadtciat proceeding and sale of tde Property.
<br /> The notic� s6a11 fmt6er Worm Borrower oE t6e rlght to celnsfate sfter accelerallon and the dght to assert ln t6e foreclosnre I
<br /> � p�ocecdlo� fhe non-exletence of a �hWt or any other defeme o[ Borrower to accekralion and foeeclosarc. If the breach J
<br />%� �s na ca�+ea op o.� neron tn� ame spe�H�a m en� ooa«, Leoder at Lender'e opNon may declare all of t6e sams xcured 6y
<br /> this Mo�e to be tmmediately doe and payable w(thoat furlher demand and msy foceclose by judIcial roceedl
<br /> shaII 6e e�ltled to eollect In sach roceed P u6. I.ender
<br /> p ing all expe�es of tomlosnre, inclndlog, but oot Ilmked to, cods of documentary
<br /> ; evideocy abstracfs and tltle reporb.
<br /> a 19. ao�owetr Rl�ht io Rdmtata NoEwithatandiog Lender's acceleration of the sums secured by this Mortgage,
<br /> � Borrower ahalt have the right to have any proceedings begun by Lender to eaforce this Mortgagc d'ucontinucd at any time
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