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<br /> Lender's written agreement or applicable law. Borrower shall pay the amount oP all mortgage insurance premiums in the
<br /> manner provided under paragcaph 2 hereof.
<br /> ; Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional �
<br /> � indebtedness of Borrower secund by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such j
<br /> { amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> Q� date of disbursement at the rate payable from time to time on outstanding Qrincipal 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 highest rate �
<br /> { j` permissible under applicable Iaw. Nothing containad in this paragr$ph 7 shall require Lender to incur any expense or takc
<br /> � � any action hereunder.
<br /> � � 6- InspecHon. Lender may malce or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> � � that Lender shaU give Borrower notice prior to any such inspection specifying masonable cause therefor related to Lender's
<br /> interest in the Property.
<br /> i i � 9_ CoAdemnallon. The proceeds of any award or ciaim for damages, direct or cansequential, in connecdon with any
<br /> � �p condemnation or ather taking of the Property, or part thereof, or fo� conveyance in lieu of condemnation, are hereby assigned
<br /> + � and shall be paid to L.endec
<br /> ' ' Ia the event of a total takin of the Pro rt the roceeds shall be a Led to the sums secured b this Mort a e
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<br /> with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and I.ender
<br /> otherwise agree in wnting, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> i as is equal to tha[ proportion which the amount of the SUFTIS secured by this Mortgage immediately prior to the date of
<br /> ; taking bears to tNe fair market value of the Property immediately prior to the date of taking, with the batance of the proceeds
<br /> paid to Bortowec
<br /> ?, If the Property is abaadaned by Borrower, or if, after notice by Lender to Borrower that the condemnor ofters to make
<br /> an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> ' mailed , Lender is au[horiud 'to collect and apply the procceds, at Lender's option, either to restoration or repair of the
<br /> ' PropeRy or to the sums secured by this Martgaga
<br /> ' Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principai shall not extend
<br /> or postpone the due date of the monthly installments referred ro in paragraphs 1 and 2 hereof oe cfiange the amount of
<br /> ' such installments.
<br /> � 10. Borrower Not Relessed. Extension of th¢ time for payment or modiflcation of amortization of the sums secured
<br /> � by this Mortgage granted by Lender to any successor in interest of Borrower shall not operete to release, in any manner.
<br /> i the liability of thc original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> j, proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> r secured by this Mortgage by ceason of any demand made by the original Borrower and Borrower's successors in interest.
<br /> i 11. Forbearance by i,ender Not a R'atvee Any forbearance by Lender in exercising any right or remed,v hereunder, or
<br /> '` oth¢rwise afferrded by applicable law, shatl not be a waiver of or preclude the exercise of any such right or remedy.
<br /> �! T'he pracuroment 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 maturity of the indebtedness securcd by this Mortgaga
<br /> �; 12. Remedtes CumulaHve. Alt remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> �; remedy under this Mortgage or afforded by taw or equity, and may be exercised concurrently, independendy or succeuively.
<br /> 13. Saccrosocs and Assig�u Bound; Joint and Several LiabOify; CaPtions. The covenants and agreements h�rcin
<br /> L contained shati bind, and the righu hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br /> �; subject to the provisioas 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 Mortgagc are for convenience only and are not to be used to
<br /> i' interpret or deffne the provisions hereof.
<br /> 14. NoHce. E�ccept for any notice required under applicable law to be given i� another manner. (a) any notice m
<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 Lender as provided herein, and
<br /> Jf (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 herein.
<br /> 3; 15. UNform MoKgage; Goveming Law; Severability. This form of mortgage combines uniform covenants for national
<br /> use and non-unifortn covenants 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 /> ievent that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br /> � 1 other provisions of this MoRgage or the Notc which can be given effect without the conflicting provision, and to this
<br /> �j end the provisions of the Mortgage and the Note are declared to be severable_
<br /> i; 16_ Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> , 1 of execution or after recordation hereof.
<br /> 17_ Transfer ot the Prape�ty; A�umpBon. If all or any part of the Property or an interest therein is sold or transferrcd
<br /> by Borrower wiffiout Lender's prior written wnsent, 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 appliancu, (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 three ycars or less
<br /> not containing an option to punhase, Lender 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 transfer. Lrnder
<br /> und the person to whom the Property is to be sold or transferred reach agrcement in writing that the credit of such person
<br /> ; is satisfactory to Lender and that the interest payable on the sums sewred by this Mortgage shall be at such rate as Lender
<br /> j shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> ; inrerest has executed a written assumption agreement accepted in writing by Lendeq Le�der shall release Borrower from all
<br /> obligations uader this Mortgage sad the Nota
<br /> If Lender exereises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 hereof_ Such notix shall provide a period of not leas than 30 days from the date the notice is mailed within
<br /> which Borrower may pay the suma declarcd due. if Borrower fails to pay such sums prior to the expiration of such period,
<br /> Lender may, without further notice or demand on Borroweq invoke any remedies permitted by paragraph 18 hereof.
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<br /> Nox-Urrtronr� Covexewrs. Borrower and Lender further covenant and agree as follows:
<br /> i& Accelerafion; Remedies. Fscepl � provlded in puaqnph 17 hercot, upon BorroweTs 6reach o( aoy covenant or
<br /> i agreement oE Borrower in this Mortgagq includi� the covenants to pay when due any suma secured by this Morlgage,
<br /> � I.ender pdor to accderWlon aLal! mail notice to Borrower as provided in paragreph 14 hereof apecifying: (1) tl�e breacb; 4
<br /> � (� the 'action rcquircd to curo sucL brcach; (3) a date. �wi leas than 30 days from the date the notice is maited to Borro�ver,
<br /> � , bywLich ruch bieach moat be cored; and (4) that failure to cnre suc6 breach oa or befoce the date specified io the nodce _,. ,._, ---- �c `.
<br /> r may resnit in meleraUon ot the w�ns securcd by tht4 MorlgaRe, torccloaurc by judlclal proceedtng aed sale ot the Property. , �
<br /> � T6e noHce sAall fortLer i�orm Borrower of the rtght to reinstate after ecceleratlon and the rlght to assert in the foreclosure �.' � 2
<br /> x proceedio� t6e non-existeoee oC s defadt or any ot6er defea4e of Borrower to accdention snd foreclosare. It the breach I � ,,X
<br /> � ls not cmed on or bdore the date apeclNed In the noKce, Leoder at Lender's option may declare all of t6e sams secured by --� � '
<br /> j this MocR;age to be immedtatdy dne and paysble withont furt6er demand and may forcclose by judicial proceediug. Lender �_ ;
<br /> shall be entltled to a�(ect la such proceediog all expeases of [oreclos��re, Indudiag, bat not limked to, cosfs of documentsry '� , � a . =�
<br /> t, evldeace, 86atracU aad tlth npotls.
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<br /> � 19. Hormwae's ' Ri�6t to Rdmtate. Notwithatanding Lender•s acceleration of the sums secured by this Mortgage, - ,,,,ti• . �'��
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<br /> Borrawer 'aHall have the iight to have any proceedings begun by Lrnder to enforce this Mortgage discootinued at any time
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