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<br /> 78-: t� 01618
<br /> i Lender's written agrcement or applicable law. Borrower shall pay the amount of ail mortgage insurance premiums in the
<br /> manner pYovided under paragraph 2 hereof.
<br /> i Any amounts disburse3 by L.ender pursuant to this paragraph 7, with intemst thereon, shall become additional
<br /> jindebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other tertns of payment, such !
<br /> �..� amounts shall be payable upon notice from Gender to Borrower requesting payment thereof, and shali bear interest from the
<br /> , I } date of disbursement at the rate payabie from time to time on outstanding principal under the 13ote untess payment of �
<br /> � interest at such rate would be wntrery to applicable law, in which event such amounts shali bear interest at the highest rate
<br /> , � permisaible uader applicable law. Nothing contained in this paragraph 7 shall requiro I.endar to incur any expense or take
<br /> � any action hereunder. ;
<br /> j 8. Inspectlon. Lender may make or causa to be made reasonable entries upon and inspections of the Property, provided '
<br /> that I.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor ralated to Lendor's
<br /> j interest in the Property.
<br /> i 4. Condemnatton. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> � condemnatian or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> � and shatl be paid to Lenden
<br /> � In the evmt of a tota] taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> a with the excess, if any, paid to Borrower. In the event of a partial takins of the Property, unless Borrower and Lendcr
<br /> + otherwise agne in writing, there shall be appleed to the sums secured by this Mortgage such proportion of the proceeds
<br /> u as is equal to that proportion whicb the amount of the sums secured by this Mortgage immediately pri�r to the date of
<br /> � taking bears to the fair market value of the Property immedia[ely prior to the date of taking, with the balance of the proceeds
<br /> paid to Borrowec
<br /> i I€ the Property is abandoned by Borrower, or if. after notice by Lender to Horrower that the condemnor offen to make �;
<br /> 1 an award or settle a claim for damages, Borrower fails to respond to Lender wi[hin 30 days after the date such notice is
<br /> i mailed, Lender 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 secured by this Morcgage. �
<br /> Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principai shall not extrnd
<br /> or postpone tfie due date of the monthly instaliments referred to in paragraphs 1 and 2 hereof or change the amount of r
<br /> ' such instaflments.
<br /> ' i 10. Borrower Not Released. Extension of the time For payment or modification of amortization of the sums secured ''`
<br /> � by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, �,
<br /> the liability of the original Sonower and Borrower's successors in interest. Lender shall not be required to commence .
<br /> proceedings against such successor or refuse to extend tiene for payment or otherwise modify amortization of the sums �
<br /> e secured by this Mortgage by reason of any demand made by the original Sorrower and Borrower's successors in interest. �
<br /> � li. For6earance by I.ender Not a Watvee Any forbearance by Lender in exercising any right or remedy hereunder, or �
<br /> � otherwist afforded, by appticable law, shall not be a waiver of or preclude the ezercise of any such right or remedy. "
<br /> The procurement of insurance or the payment of taxes or other lienx or charges by Lender shall not be a waiver of Lender's �
<br /> right, to accelerate the maturity of thc indebtedness secured by this Mortgage.
<br /> i 12.' Remedias CnmaWNre. All remedies provided in this Mortgage are distinct and cumulative to any other right or �`
<br /> � remedyiinder this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or suacessively. :. •
<br /> a 13. Saccetisors and Assigns Sound; Joint and Several T.ia6ility; CapHons. The covenants and agreements herein `
<br /> contained shail bind, and the rights hereunder shull inure to, the respective successors and assigns of Lender and Borrower. � ..
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br /> The captions and headings of the paragraphs of this Mortgage are far convenience only and are not 2o be used to j
<br /> inurpret or define the provisions hereof. �
<br /> 14. Notica Except For any notice required under applicable 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 certified mail addressed to Borrower at L
<br /> the Pmperty Address or at such other address as Borrower may designate by notice to Lender as provided herein, and �
<br /> j (b) any notice to Lender shafl be given by certified rnail, retum receipt requested. ro Lender's address stated herein or to =
<br /> 3 such other address as Lender may designate by notice to Borrawer as provided herein. Any notice provided for in this E
<br /> fMortgage shall be deemed to have becn given to Borrower or Lender when given in the manner designated herein. i
<br /> ` 15. Uaiform Mortgage; Governing Law; Severabillty. This form of mortgage combines uniform eovenants for national �,
<br /> � use and non-uniform covenants with limited variations by jurisdiction to constimte a uniform security instrument covering �
<br /> teal 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 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 G
<br /> � end the provisions of the Mortgage and the Note are declared to be severable. t '
<br /> � 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time ;
<br /> of execution or after recordation hereof.
<br /> � 17. Tramfer of the Property; Assumptton. If all or any part of the Property or an intcrest therein is sold or transferrcd �
<br /> by Borrower without I.ender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to j
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise. '
<br /> � descmt 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, I.ender may, at Lender's option, declare aIl the sums secured by this Mortgage to be
<br /> ' k immediately due and payabla Lender shall have waived such option to accelerate if, prior to the sale or transfer. I.ender �
<br /> � and the person to whom the Property is to be sold or transferred mach 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 /> � shall ttquest. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> iaterest has executed a written assump[ion agreement accepted in writing by Lender. Lender shall release Borrower from all
<br /> i obligations under t6is Mortgage and the Nota
<br /> If Lender exercises such option to accelerate, Lender shatl mail Borrower notice of acceleration in accordance with
<br /> � pasagraph 14 hereof. Such notice shall provide a period of not ]ess than 30 days from the date the notice is ma�ed within '
<br /> which Horrower may pay the sums declared due. lf Boaower fails to pay such sums prior to the expiration of such period,
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<br /> Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> � Noiv-UNtroRwt Covexwxrs. Porrower and Lender further covenant and agra as follows:
<br /> 18. Acederatlon; Remedles. F.icept as provided fn paragraph 17 hereof, upon Borrower's brach of any covenaot or
<br /> a6reement o[ Borrower in thb Mortgage, 5ncluding the covensnts to pay when dae any sums secured by thle Mortgage, �
<br /> Lmder-prlor to accekratlon s6a11 maU nodce to Borrower as provided in paragraph 14 hercof specifying: (1) the breach;
<br /> (2) t6e actlon reqaired to cnce euch breach; (3) a date, not lesa than 30 days from the date the notice is malled to Borrower, ' ,�, . '
<br /> by which`mcla breach most be cured; and (4) t6at failurc fo cur+e such brcac6 on or befoce the date specifled in tl�e notice ._ �� `
<br /> mqy matt In accdvatlon of the suan secured by this Mortgaqe, forcclosun by jodicial proceedi� and sale of tbe Property. ,� ,
<br /> `� TLe noNce shall'lortherioform Borrower of the right to rctnstate aHer accelera8on and the rlght to av�ert in the foreclosure ;'.' � '
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<br /> proccedio= tLe non-extstence o[ a :default or any other defense ot Borrower to ecceltreHon and forectosurc. II the 6rcac6 � ;, .
<br /> 1s aot cored on or betore the date apeel8ed in the notice, Leader nt Lender's opNon msy declare all of t6e soms aecored by � ' � �
<br /> �6b Mo�ge to be Immediately due and payable witAout furlher demaod and may Poreclaea by judlcfal proceediog. Leoder {' � �
<br /> sLall be eatltled.to coLecf fo sne6.proeeeding all expemes of toreclasurc, ivclnding, but oot limited to. cosls of docnmentuy �` '< �.�. ��
<br /> � � evidence,'abstaaeb and tltk rePnrts. ' w ."``'"�.
<br /> � 19. . Dorsowds Rltht to Reimhte. Notwithstanding Lender'a acceleration of the sums securad by this Morigage, '- ` � . "
<br /> + Borrower shall have the right to have any proceedings begun by Lender to mforce this Mortgage discontinued at any time
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