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<br /> �8.� �, olaii :�� 78— ':, � 1 � i7 �"1 �
<br /> Lender's writcen agnemeat or applicable law. Borrower shall pay the amount of aIl mortgage insurance premiums in the
<br /> manner ptovided under paragraph 2 hereof.
<br /> r Aay amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> indebtedness of Borrower xcured by this Mortgage. Uniess Borrower and Lcnder agree to other terms of payment, such
<br /> � amounts shall be payable upon notice fram Lender to 8orrower requesting payment thereof, and shalt bear interest from the
<br /> date of disbursement at the rate payable frorr3 time to time on outstandin rinci al under the Note unless �
<br /> 8 P P payment of
<br /> � inoerest at such tate would 6e contrary to applicable law, in which event such amounts shail bear interest at the higheat rate ^ '
<br /> � permisaibie under applicable law. Nothing contained in this paragraph 7 shall nquire Lender to incur any expense or take �r
<br /> any action hereunder. }.
<br /> � 8. Inspectton. Leader may make or cause to be made nasonablc entries upon and inspections of the Property, provided �. .
<br /> � that Lxnder shalt give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's >
<br /> inYerest in the Property. i ,
<br /> , :j 9. CondemnaHon. 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 Lender. � y
<br /> � In the event of a total taking of the Property, the proceeds shali 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, �mless Borrower and Lender �' '
<br /> ' �+ othcrwise agrec in writing, there shall be applied to the sums secured by this Mortgage such propartion 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 af
<br /> € taking bears ro the fair market vatue of the Property immediately prior to the daxe of taking, with the balance of the proceeds '
<br /> , ; paid ta Borrower. ,
<br /> � If the Propecty is abandoned by Borcowec, or if. after notice by Lender to Borrower that 2he condemnor offers to make
<br /> an award or settle a claim for damages, Borrower fails ta respond to Lender within 30 days after the date such notice is '
<br /> � mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the �-
<br /> # Property or to the sums secured by this Mortgage. �;
<br /> � Unless Lender and Borrower otherwise agree in writing, any such appiication of proceeds to principal shall not extend �
<br /> or postpone the due date of the monthly installrnents refereed to in paragraphs 1 and 2 hereof or change the amount of r�
<br /> sucF� installments, q;
<br /> , � 10. Bonower Not Rdeased. Extension of the time for payment or modif4cation of amortization of the sums secured i� `
<br /> 3 by this Mortgage granted by Lender to any successor in interest of Borrower shail not operate to release, in any manner, ii.
<br /> i the liability of the original Borrower and Borrower's successors in interest. Lender shalt nof be required to comme�ce �
<br /> } proceedings against such svccessor or refuse to extend time for payment or otherwise modify amortization of the sums �
<br /> 1 1 secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's succeuors in interest. �
<br /> � 11. Porbearance by Lender Not n Waivee Any forbearance by Lender in exercising any right or remedy hereunder, or r
<br /> ; othrrwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. "s,
<br /> � 1'he procurement oE insurance or the payment of taxes or other liens or charges by Lender shatl not be a waiver of Lender's �
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> 12. Remedies CumolaHve. Alt remedies provided in this Mortgage are distinct and cumulative to any other right or '
<br /> � rcmedy under this Morigage or nfforded by law or equity, and may be exercised concurrentty, endependenHy or successivdy. �'-
<br /> 13. Socce�ors and Asslgns Bound; Joint and Several Liabil(ty; CapHoQs. The covenants and agreements hercin
<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 pazagraph 17 hereof. All covenants and agreements of Borrower shall be joint and uveral. �
<br /> The captions and headings of the paragraphs of this Mortgage are for convenience onty and are not to 6e used to {.
<br /> interpret or define the provisions hereof.
<br /> ]4. Notice_ Except for any notice required under applicable Iaw to be given in another manner, (a) any notice to i`
<br /> Borrower provided for in this Mortgage shatl be given by mailing such notice by certified mail addressed to Borrower at ;
<br /> the Property Address or at such other addreu 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 Lender's 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 /> I5. Uniform Mortgage; Goveming Law; Severability. 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 /> real property. Ttiis Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> eveni that an� 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 efiect without the conflicting provision, and to this i
<br /> end the provisiorts 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 exaution or after rocordation hereof.
<br /> 17. Transfer of the Propecty; /►ssumption. If alI or any part of the 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 encumbrance subordinate to
<br /> this Mortgage, (b) the creation of a purchau 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 throe years or less
<br /> not containing an option to purchase, L.ender 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 tranafer. Lender
<br /> and t6e person to whom the Property is to be sold or transfermd reach agreement in writing that the credit of such person
<br /> is satisfactory to Leader and tha[ the interest payable on the sums secured by this Mortgage shalt be at such rate as I.ender
<br /> shalt nquest. If Lender has waived the option to accelerate provided in this paragraph 17, and if BortowePs successor in
<br /> interat has executed a written assumption agreement accepted in writing by Lender, Lender shall rclease Borrower from all
<br /> obligations under this Mortgage snd ffie Note.
<br /> If Lender extrcises such option to accelerate, Lender shall mail Borrower riotice of acceleration in accordance with
<br /> paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is ma�'led within
<br /> which Borrower may pay the sums declared due. If Borrower fails to pay sach sums prior to the expiration of such period,
<br /> Lender may, without further notice or demand on Horrower, imoke any remedies permitted by paragraph I8 hereof.
<br /> Nox-UxtFoert Covaxwta�rs. Borrower and L.ender further covenant and agree as follows:
<br /> 18. Acederatioa; Remediee. Exttpt as provided {n paragraph 17 hercof, upon Borrower's 6reach of any covenant or
<br /> agreement o[ Borrower in this Morlgagq inctud(�g tAe covenants to psy when due any surtn secured by thls Mortgage,
<br /> Leoder pdor to accekration shatl ma�I notice fo Borrower as provided in paraqraph 14 hereof specffying: (1) the brcach; E
<br /> (2) the acfton required to carc sach breach; (3) a dste, not tess than 30 days from tLe date the notice Lv matted to Borrower,
<br /> by which mch breach must be cured; aod (4) that failure to cure such bresch on or 6eforc the date specified in t6e noNce �f `
<br /> may resul! in acceieratlon oE t6e surt� secnred by thLs Mortgage, foreclosurc by judicial proceedi�g aad sale oE the Property. ;y ,
<br /> The notice shall f�ther inform Borrower of the right to reinstate after accelenNon and the righf to assert in the forecloaurc � ; ;, .
<br /> procadlug the noq-exieteace ot s dehWt or any other defense of Borrower to accelerotion and forecloeure. I[ the breach �?
<br /> ta not eured o0 or beEoce the dste apecifled in t6e notice, Lender at Lender's opNon may declare a11 of Me soa�a secured by � '
<br /> this,MoA�e to br (mmedlatdy due and payable without furlhv demand and msy foreclose by jodlcial proceedl�. Lender �� �,-
<br /> s6ei1 be endtled to co0ect In each proceediog all,expenses of forecloevn, Incladtog, but not limited to, costs of docamentary i �, � !;;
<br /> eWdenee, aUst�aelsaad�BUe �reporN. � � � � � t, �:�,�
<br /> 19. Borrowe�a RigLt to Reimtafe. Notwithstanding Lender's acceteration of the sums secured by this Mortgage, ' ;;;,. .
<br /> Borrower shali have the rlght to have any pr+occedings begun by Lender to mforce this Mortgage discontinued at any time
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