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<br /> j Lender's writtea agreement or applicable law. Borrower shatl pay the amount of all mortgage insurance premiums in the
<br /> j maaner pYovided under paragraph 2 hereof.
<br /> ! Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shal! become additional
<br /> � indebtedneas of Borrower securcd by this Mortgage. Unlass Bonower and Lender agree to other terms of payment, such
<br /> � amounu shall be payable upon notice from Lender to Borrower requesting payment thereof, and shal( F�ear interest from the
<br /> date of disbursemenf at the rate Qayable from time to time on outstand3ng principal under the Note unless payment of
<br /> interest ai auch ratd wouid be coatrary to applicable law, in which event such amounts shail bear interest at the highest ratt
<br /> permiasffile under applicable law. Nothing contained in this paregraph '7 shaD requice Le�der to incvr any expense or take
<br /> any action hereunder.
<br /> 8. ImpecNoo. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> - that I.ender sha4 give Horrower notice prior to any such inspection gpecifying reasonable cause therefor related to Lender's
<br /> . � interest in the Property. .
<br /> 9. Condamnallon. 'fhe proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> condemnation or other taking of the Proper4y, or part thereoF, or for conveyance in lieu of condemnation, are hereby assigned
<br /> and shall be paid to Lendea
<br /> In the event of a total taking of the Property, the proceeds shall be applied to the sums ucured by this Mortgaga
<br /> with tha excess, if any, paid to Borcower. In the even2 of a partial taking of the Property, unless Borrower and Lender
<br /> otherwise agree in writing, therc shall be applied to the suma secured by this Mortgage such proportion of the proceeds
<br /> r„{ as is equal ro that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> � takiag bears to the fei� market value of the Praperty immediuiety prior io the date of [aking, with the balance of xhe proceeds
<br /> � paid to Borrower.
<br /> If the Property is abandoned by Borrowec, or if, after notice by Lender to Borrower that the condemnor offera to make
<br /> < �"� an award or setHe a daim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> 1 O mailed. Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or rcpair of the
<br /> O �ap�nY or to the sums secured by this Mortgage. �
<br /> ' F Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shatl not extend �
<br /> � or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the arnount of
<br /> h suah installments.
<br /> 10. Borrower Not Released. Extension of the time for paymmt or modiflcation of amortization of the sums ucured
<br /> by this Mortgage granted by Lender to any successor in interest of Borrowcr shall not operare to release, in any manner.
<br /> the liability of the original Borrower and Borrower's successors in interest. Lender shall not be rcquired ro commence
<br /> proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the suma
<br /> securcd by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br /> 11. Forbeannce by I.ender Not a Waiver. Any forbearance by Lender in exercising any right or nmedy hereunder, or t '
<br /> otherwise , a,ff, otded by. applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. •s:
<br /> Tho procurement of irourance or the payment of taxes or other liens or charges by Lender shatl not be a waiver of Lendc�'s
<br /> right to acttletate ihe maturity of the indebtednexs securcd by this Mortgage. `
<br /> 12. "Remedies Cumnladve. All remedies provided in this Mortgagc are distinct and cumulative to any other right or '
<br /> remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independendy or successively.
<br /> l3. Successors and Aavigns Bound; Joint and Severat i,isb7lty; Capdons. 7'he covenanu and agreements herein
<br /> ;, contained shall bind, and the rights hereunder shall inure to, the respective suecessors and assigns of Lender and Bonower, �
<br /> subject to tfie 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 for convenience only and arc not to be used to
<br /> interpret or define the provisions hereof.
<br /> 14. NoHce. Except for any notice required under app]icable 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
<br /> the Property Address or at such other address as Borrower may designate by notice to L.ender as provided herein, and
<br /> (b) any notice to Lender shall be given by certified mail, retum receipt requested. to Lender's address stated hercin or to
<br /> such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this a
<br /> Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein_
<br /> 15. Unifortn Morigagr, Governing Law; Severabil(ty. This form of mortgage combines uniform covenanta for national
<br /> use and non-uniform covenants with timited variations by jurisdiction to constitute a uniform security instrument rnvering �
<br /> rcal 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 tfie Note conflicts with applicable law, such confliM shall rtot affect
<br /> ot6er provisions of this Mortgage or the Note which can be given eHect 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. Bonower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or afrer recordation hereof.
<br /> 17. TransEer of t6e Property; A�umption. If all or any part of the Property or an interest thercin is sold or transfeaed
<br /> by Borrower without I,ender's priar written consent, excluding (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 /> i descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of thrce years or less
<br /> not containing an option to purchase. Lender may, at Lender's option, dectare all the sums securcd by this Mortgage to be
<br /> � immediateiy due and payable. Leoder shalt have waived such option to accelerate if, prior to the sale or tranafer. Lender
<br /> and the person to whom the Property is to be sold or transfcrred reach agreement in writing thut the cmdit of such peeson
<br /> is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at s�ch rate as Lender
<br /> shall request. If Lrnder has waivod the option .to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> � interesYhas executed a written aasumption agceement 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, Lender shall mail Borrower notice 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 nodce is mailed within
<br /> , . j which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> ! Leoder may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof_
<br /> � Nox-Ux�rox�or Cove�vwtvrs. Borrower and Lender further covenant and agree as follows:
<br /> ` i Y8. Accderation; Remedtee. Except as provided in paraqnph 17 hereof, upon Borrower's breach of tny covenant or
<br /> � 3 aQreement of Borrower in this Mortgaqq iocluding t6e covenants to pay when due any sums aecurcd by t6is Mortgage,
<br /> # Leoder prlor to acceleratfon ahall ma0 no8ce to Borrowu av provided in paragraph 14 hercof specifying: (1) t6e breach;
<br /> , . � (2) the actioo rcqai�ed to cure aoch breac6; (3y a date, not tas than 30 days from the dale the notice is mailed to Borrower, , ,,.
<br /> � by whtch aneh bn�ach muet 6e cueed; and (4) ihat fai/ure to cure such breach on or before /6e date spectfied in the noHce � ` t„
<br /> may result !n acceleradon ot the aums secored 6y thts MortgaRe, torectosurc by judiclal proceed(ng and sale of the Property. dw;�
<br /> The notice sha� fortherintorm Borrower of t6e rtght to rcinetate after acceteration and the right to assert in the foreclosurc � �` �; {
<br /> � ., y proeeeding the oon-esbteace o[ a defaolt or any other defense of Borrower to accelenNoa and foreclosare. If the 6reach
<br /> is nM cared on or beforc the date speci8ed in the aotice, I.ender at Lender's option may declare all o[ the aums secured by � F' �
<br /> �,� t6is Mortga�e to be immedlsfely dae and payable w(thout furlher demaad and may foreclose by Judlcial proceeding. Lender ;
<br /> i� atiaL 6e mHded to coOect in �soch aL e # �' .': .
<br /> proceeding �cpdnes of foreclosurc, inctudi�, 6ut not limited to, costs oE documentary . 4 „
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<br /> "� eYIdence, Ab6t�acls and NUe reporfl. _ . '" ,,�
<br /> S: � 19. . Eorrowee's Ri�ht .W Reiffitate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage, -` ;d� -
<br /> _ : Bottower ahall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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