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<br /> 78-� UfJ1 � ii0
<br /> 3 i.ender's written agreement or applicable law. Bortowcr shall pay the amount of aIl mortgage insurance pnmiums in the
<br /> + manner provided under paragraph 2 herwf.
<br /> 1 Any amounts disbuned by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> { indebtednas of Borrower secured by this Mortgaga Unless Borrower and Lender agree to other terms of payment, sach
<br /> � amounts ahall be payable upon notice from Lender to Bonower requesting payment thereof, and shall bear interest from the �
<br /> date of disbursement at the rate payable from time to time on outstanding principal u�der the Note unless payment of
<br /> interat at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> . � permissible under applicable lsw. Nothing contained in this peragraph 7 shall ttquire Lender to incur any expense or take
<br /> a any action hereunder.
<br /> I 8. Inspecdon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> tthat 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. Coodemnatton. 7'he 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 Lrnden
<br /> i In the event of a total taking of the Property, the proceeds shalt be applied to the sums secured by this MoRgage.
<br /> � with the excess, if any, paid to Borrower. Tn the event of a partial taking of tbe Property, unless Borcower and Lender '
<br /> ' j otherwise agree in writing, there shall be applied to the sums secumd by this Mortgage such proportion of the proceeds �
<br /> � as is equal to that proportion which the amount of thc sums secured by this Mortgage immediately prior to the date of
<br /> , S taking bears to the fair market value of the PropeRy immediately prior to the date of taking, with the balance of the proceeds
<br /> � paid to Borrower.
<br /> t If the Property is abandoned by Borrowe[, or if, after notice by Lender to Borrower that the condemnor al[ers to make
<br /> � an award or settie a claim for damages, Borrower fails to respond to Lender within 30 days afrer the date such notice is '
<br /> ; mailed, Lender is authoriud to collect and apply the proceeds. at Lender's option, either to resroration or repair of the �
<br /> Property or to the sums secured by this Mortgage.
<br /> � Unless Lender and Horcower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> i or postpone the due date of the monthly instaltments referred to in paragraphs i and 2 hereof or change the amount of
<br /> � such installments.
<br /> j 10. Borrorver Not Released. Extension of the time for payment or modification of amortization of the sums secuttd
<br /> by this Mortgage granted by Lender to any successor in ineerest of Borrower shall not operate to release. in any manner.
<br /> ; f the liability of the original Borrower and Borrower's successors in interest. Lender shatl not be required to commence
<br /> , r 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 /> 'j 11. Forbeannce bq Lender Not a Waiven 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 prectude the exercise of any such right or remedy.
<br /> The procuremrnt 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 mamrity of the indebtedness secured by this Mortgage.
<br /> � ]2. Remedles Cumolative. AlI remedies 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 concurrenUy, independently or successively.
<br /> � 13. Succe�on aod Asafgns Bound; Joint and Several i.iablllty; Captloos. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder shall inurc to, the respective successors and assigns of Lender and Honower,
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and xveral.
<br /> � 'Ihe captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> # interpret or deSne the provisions hercof.
<br /> 14. Notice. Except for any notice required under applicabte 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 ceRified 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 shall be given by certified mail, retum reccipt requested. to Lender's address stated herein or to
<br /> : z such other address as Lender may designate by notice to Horrower as provided herein. Any no[ice provided for in this
<br /> " 1 Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 1 15. Uniform Mortgage; Goveming Law; Severa6ility. 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 coveririg
<br /> - 1 real propeny. 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 clause 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 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. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of exewtion or after recordation hereof.
<br /> � 17. Transfer oE the Prope�ty; A�umptlon. If all or any purc of the Property or an inrerest therein is sold or transferred
<br /> ; by Borrower without L.ender's prior written consent, excluding (a) the creation of a lien or encumbraoce subordinate to
<br /> ;"s this Mortgage, (b) the creation of a purchase money securiry 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 interat of three years or less
<br /> � not containing an option to purchase, Lender may, at Lender's option, declare alI [he 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 pecson
<br /> .t is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shal( be at such rate as Lender
<br /> shall nquest. If Lender has waived ihe option to accelerate provided in this paragraph 77, and if Borrower's successor in
<br /> r,� interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br /> :� obligations under this Mortgage and the Note.
<br />€ If Lender exercises such option to accelerate, [.ender shall mail Borrower notice of acceleration in accordance with
<br /> E� paragraph 14 hereof. Such notice shall provide a period of not lus than 30 days from the date the notice is maz'led within
<br />� which Borrower may pay the sums declared due. If Bortower fails to pay such sums prior to the eapiration of such period,
<br /> Lender may, without fvrther notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />� � Nox-Uxtr+ortrt Covewnxrs. Borcower and Lender further covenant and agree as follows :
<br />` 18. Acederatbn; Remedies. Except as provided in paragraph t7 bereof, upon BorrowePs brcach of any covenant or
<br />� a`reemeot af Borrowv ia thLs Mortgagq includiug the covenants to pay when due any sums secured by thb Mortgage,
<br /> r . Lender prbr to accekratlon ahalt mail �rotice to Borrower as provided in paragraph 14 hereof specifyfng: (1) t6e breach;
<br />� (2) t6e actbn rcqoircd to cnrc each brac6; (3) a date, not Ime than 30 days fmm the date the nodce is mailed to Borrower,
<br /> s 6y wdich wch b�each mnst 6e cured; and (4) t6at fatlurc lo cure such breach on or 6efore the date speci8ed in the notice '
<br /> f may eesult io acedentioo ot t6e sums aecured by this Mortgaqe, foreclosurc by jndlclsl proceedi� and sale of tbe Property. �
<br /> The notice ahall [wt6er inform Borro�ver of the rlght to rei�tate after acceleratbn snd the rigbt to assert io the foreclosnrc
<br />� proceediue the noo-exietence oE a de[ault or any othu defeau of Borrower to acceleratton aod foreclosure. It the breach
<br /> s is oo[ curcd on orbefore the date speci8ed in the notice, Gender at Lender's optiom m�y declare alt of t6e sums secured by
<br /> th4 MoA�aye to be Immedietely dne and payable withont furlher demand and may foreclose by judiclsl proceediug. Lender
<br />'r shalf be eaWled ro codect In web proceedlag al1 e:penses of foreclosure, incloding, bot not limked to, cosb oE docnmentary
<br />� evideoee, abetraces and Wle repoab.
<br /> � 19. Eorrowds Ri`6t to Retmtate. Notwithstanding Lender's acceferation of the sums secured by this Mortgage.
<br /> � . Borrower shall have the right to have any praeedings begun by Lender to enforce this Mortgage discontinued at any time
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