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<br /> j L.ender's written agrtement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pYovided under paragraph 2 hereuf.
<br /> � Any amounts disbuned by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> � indebtedness of Sorrower xcured by this Mortgage. Unless Borrower and Lec�der agree to other terms of payment, such
<br /> q amounts shall be payable upon notice from I_ender to Borrower requesting payment thereof, and shall bear interest from the
<br /> 2 � datc of disbursement at the zate pagable from time to time on outstantling principal under the Note unless payment of �
<br /> � intErest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highst rate
<br /> � permieai'ble under applicable taw. Nothing conta9ned in this paragraph 7 shall require Lendtr to incur any expense or take
<br /> any action hereunder.
<br /> *"'I 8. 7ospectton. Lender may make or cause to he made roasonable entries upon and inspections of the Property, providecl
<br /> O that Lender shall give Borrawer notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> Q interest in the Property.
<br /> 9. Condemnatlon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> r 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.
<br /> In the event of a totai taking of the Property, thc proceeds shall be applied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borrowec 7n the event of a partiai taking of the Property, unless Borrower and Lender
<br /> ` otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the prceeeds
<br /> � as is equal to that propnrtion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> taking bears to the faer markeC value of the Property immediately prior to the date of taking, with the baiance of the proceeds
<br /> paid to Borrower. � :
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender fo Borrower that the condemnor offers to make
<br /> an award or settie a ctaim far damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed. Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration ar repair of the -
<br /> Property or to the sums secured by this Mortgage.
<br /> Unless Lender and Sorrower otherwiu agree in writing, any such apptication of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of �
<br /> such installments.
<br /> 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured �' -
<br /> by this Moregage graated by Lender to any successor in i�terest of Borrower shall not operaie to release, in any manner, ;,
<br /> the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> seeured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br /> i 11 . For6earonce by I.ender Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> � othuwise.afforded -by applieable law, shall not bo a waiver of or predude the ¢xercise of any such right or remedy.
<br /> ' � Thr•procurement of insuranee or the payment of taxes or other liens or charges by Lender shall not be a waiver of I.ender's
<br /> rightto accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> ]2. Remedies ComolsHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> � remedy under this Mortgage or afforded by law or equiry, and may be exercised concurrcnUy. independendy or success'tvely.
<br /> 73. Successore and Assigns Bound; Joint and Several i,ia6ility; CapNons. The covenants and agreements herein
<br /> contained shall bind, and the righu hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br /> subject to thc pravisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and sever�l. ;
<br /> The captions and headings of the pazagraphs of this Mortgage are for convenience only and are not to be used to
<br /> interpret or define the provisions hereof.
<br /> 14. Notice. Except for any notice required under applicable Iaw 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 a: Borrower may designate by notice to Lender us provided herein, and
<br /> (b) any notice to Lender shall be given by certified mai1, return receipt requested, to Lenders address stated herein or to
<br /> such other addross as Lender may designate by notice to Horrower 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 herein.
<br /> I5. Unlform ModEsge; Governing Law; Sevenbtlity. This form of mortgage combines uniform covenants for national
<br /> uu and non-uniform cavenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> eveni 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 aro 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 wcecution or after recordation hereof.
<br /> ]7. Transfer of the Property; Assumption. 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 oE a lien or mcumbrance subordinate to
<br /> this Mortgage, (b) the creation of a purchase 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 thrce years or less
<br /> not cantaining an option to purchase, Lender may, at Lender's option, declare atl the sums secured by this Mortgage to be
<br /> immediately due and payable. I.ender shall hav� 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 transferred reach 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 request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> ; i intetest has executed a written assumption agrcement accepted in writing by Lender, Lender shall release Bonower from all
<br /> � obtigations under this Mortgage and the Nou_ .
<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 notice is ma�ed within
<br /> which Borrower may pay the sums declared due. If Borrower fails to pay such sams prior to the expiration of such period,
<br /> Lender may, without further notice or demaod on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> '.; '� Nox-UxiFoaM Covexwx�[�s. Borrower and Lender further covenant and agree as follows:
<br /> � 18. Accderatbn; Remediee. Except as provided ia paragnph 17 hereof, epon Borrower's breach of any covenaot or
<br /> � aQreemest o[ Borrower in l61s Moctgsge, iocludi� the covenants to pay when due aoy suma secured by this MoHgegq
<br /> � I.mder p*ior to accekration shall mail notice fo Borrower as provided in paragraph l4 hereof specifying: (1) t6e breach; v
<br /> � (2) t6e acflon rcqWeed to cure snch brcach; (3) a date, not leas than 30 days from the date the notice is mailed to Borroaeq
<br /> 6y wLlch sac6 brcaeh most be cared; and (4) t6at failure to cure sucb brcach on or betore t6e date speciBed iv the noNce _ . ,y�''4.', '
<br /> mry malt ia acceleratlon of the soms secured by this Morlgaqe, fo�eclosure 6y judlclal proceeding and sale ot the Property. M � .
<br /> 1'he noKce sha11 further Intorm Borrowv oE tfie rlght to relastate after acceleration and t6e etght to assert in the foreclosure �
<br /> proceeding the noot:istence oE a defautt or any otder defense of Borrower Yo aceeleredon and forcclosure. If the breach � ' �
<br /> Is �wt caced on or 6etorc the date speci8ed in the noticq Lender at I.ender's optlon may declare sll of t6e sama secnred by :
<br /> 16b Moetp�ge to 6e immedtately dae and paya�ble wiHwut furlher demand and may forcdose by judlcial proceeding. Lender � -
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<br /> sh��d(�t�6�ry e�n_tluUeYd _to cvo1'1eM io rys�achyproceedi� sll experoes of foreclosure, tncluding, but �rot llmited to, cosfs of 3ocumeutsry J l� �%'.�
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<br /> � � 19. aorrowet's RI�Lt to Reimtata Notwithstanding Lender's accelemtion of the sums secured by this Mortguge. ; " ''"'�
<br /> ' " Borrower ahs11 havt the right to havt any proceedings begun by Le�der to enforce this Mortgage discontinued at any time �"" '
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