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<br /> � Lender's written agreement or applicable law. Borrower shali pay tl�e amount of al1 mortgage insurance premiums in the
<br /> manner pfovided under paragraph 2 hereof.
<br /> Any amounts disbursed by Leoder pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> j indebtednas of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of paymmt, such
<br /> amounts shall be payabte upon notice from Lender to Borrower reGuesting payment thereof, and shall bear interest from the
<br /> date of disbursemmt at the rale payable from time to time on outatanding 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 intera[ at the highest rate
<br /> permissible under applicable law. Nothing contained in this paragraph 9 shatl require Lendtr to incvr any expense ar take
<br /> any �ction hereunder.
<br /> � S, InspecUon. Lender may make or cause to be made reasonabte entries upon and inspections of the Property, provided
<br /> y that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor relnted to Lender's
<br /> , ; interest in the Property.
<br /> c 9. Coodemnatton. 7'he proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> ) candemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby aasigned
<br /> and shaii be paid to Lender. ,
<br /> In the event of a totat taking of the Properry. the proceeds shall be applied to the sums secured by this Mortgaga
<br /> jwith the excess, if any, paid to Borrower. In the event of a partial taking of the Propeny, uniess Borrower and Lender
<br /> otherwise agree in writing, there shall be apptied to the sums secured by this Mortgage such proponion of the proceeds
<br /> � ? as is equal to that proportion which the amount of the sums secured by this Mortgage immediatety prior to the date of
<br /> taking bears to the fair market va(ue of the Property immediately prior to the date of taking, with the balance of the pmceeds z
<br /> i paid to Bor[owec
<br /> i If ths Property is abandoned by Borrowet, or if, afxer notice by Lender to Borrower that the condemnor offers to make
<br /> an award or settte a daim for damages, Borcower fails to respond to Lender within 30 days after the date such noticc is
<br /> mai]ed. Lender is authoriud ro collect and appty the F+roceeds, at Lender's option, either to restoration or rcpair ot the
<br /> ' Property or to the sums secured by this Mortgage.
<br /> ` Unless Lender and Borrawer otherwiu agree in writing, any such application of proceeds to principal shall not extend
<br /> � or postpone the due date of the monthly installments referred to in paragraphs 1 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 af the sums securtd
<br /> G by this Martgage granted by Lender to any successar in interest of Borrower shall not operate to release, in any manner.
<br /> ,' the liability of the original Bonower 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 /> ; secured by [his Mortgage by reawn of any demand made by the original Borrower and Borrower's succeuors in interest.
<br /> ; 11. Forbeannce by Lender Not a R'aiver. Any forbearance by Lender in exercising any right or rernedy hereunder, or
<br /> ' ; otherwise nfforded by appTicable law, shu21 not be a waiver of or preclude the exercise of any such right or remedy. :}
<br /> � Thc procurement of insurance or the paymmt of taxes or other liens or charges by Lender shall not be a waiver of Lender's �
<br /> , y righY to accelerate the maturiry of the indebtedness secured by this Mortgage. %
<br /> ; 12: ' Remedies Cumulstive. All rcmedies provided in this Mortgnge 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, independently or successively. '
<br /> $ 13. Snccessors and Asslgns Bound; ]oint aad Several I.ia6Hity; CapHons The covenants and agrcements herein �
<br /> }' contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower, �
<br /> t subject to the provisions of paragraph 17 hereof. Alt 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 are not to be used to
<br /> interpret or define the provisions hereof.
<br /> 14. Notice. 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 shalt be given by mailing such notice by certified mail addressed to Borrower at
<br /> � the Property Address or at such other address as Borcower 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 i
<br /> !¢ such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this f
<br /> :� Mortgage shall be dcemed to have been given to Borrower or Lender when given in the manner designated herein. `
<br /> 15. Uniform Mortgage; Goveming Law; Severability. This form of mortgage combines uniform covenants for na[ional d
<br /> juse and non-uniform 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 jurisdic[ion in which the Property is located. In the
<br /> r event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such coaRict 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 arc dec�ared to be severable.
<br /> 3 16. BorrowePs Copy. Borrower shall be fumished a conformed copy of the Note and of this Mortgage at the time
<br /> : j of execution or after recordation hercof.
<br /> : 3 17. Transfer of the Property; Assvmptlon. If all or any part of the Property or an interest therein is sold or transferrcd
<br /> � by Borrower without Lender•s prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to .
<br /> this MoRgage, (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 three years or less
<br /> � not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Moctgage to be
<br /> 7 immediatdy due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> t and t6e person to whom the Property is to be sold or transferred rcach agreement in writing that the credit of such person
<br /> f is aatisfactory to I.ender and that the interest payable on the sums secured by this Mortgage shall be at svch 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 /> ; ioterest has executed a written assumption agreemrnt aceepted in writing by Lender, Lender shall release Borrower from all
<br /> � obligations under this Mortgage and the Note.
<br /> � If Lender ezercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordancc with
<br /> , , � paregraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br /> which Bonower may pay the sums declared d�e. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> , � Lender may, without fur[her notice or demand on Borrower, invoke any remedies pertnitted by paragraph IS hereof.
<br /> > ; Nox-UN�poxta Covexexrs- Borrower and Lender further covenant and agree as follows:
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<br /> 18. Acttkratioo; Remedtes. Fscept a� prov(ded in paragraph 17 hereof, upon Borrower`s brcsch ot eny covenant or
<br /> ; f agreemenY o[ Borrower (n thB 1NortAagq induding the covenants to pay when due aoy sums secured by t6Ls Mortgage,
<br /> : } Lender pzior to accderatjon a6a11 mail notice to Borrower ss provided in paragraph 14 hereof apecifyi�: (1) the brcach;
<br /> ; (2) t6e actlao reqolrcd t6 cam soch breac6; (3) a dstG �ot Irse than 30 days from the date the notice is mailed to Borrower,
<br /> .a � by wWch �wch, breach most be curcd; and (4) that failuro to curo such breach on or beforc t6e date specified In t6e notice -- x- < �*�`�.
<br /> may reeult In accderatloo ot the su� secured by this Mortgage, foreciosure 6y judlcial proceeding and safe of the Property. ''� ,
<br /> { j The notice fhall fn�iher inform Sorrower of the right lo rel�ntate aker acceleration and the r(ght to as.qert in the forcclosure �' 'r '
<br /> E p�oceediu� the oon-esistence o[ a detadt or any other defe�e of Borrower to accelera8on and forcclosare. If the 6rcach • � `�
<br /> f is not cured on or beEore the datc speci6ed iu fhe noHee, Lender at Lender's option may dectsre ed of the sums secured by ,,;
<br /> ' � t�b Morfgage to be immediatelq due and paya6le wlthout furlher demand and may forectose by judlcial proceeding. Leoder ;y;
<br /> � ahalf be enHtled to collect in aucN proceeding alI expenses of forcclosure, including, but not limited to, cost4 of docameotary x ` ;
<br /> i evldmce, abstrwcls aod tltle reports.
<br /> � � � 19. , Borrowet's RigLt to Reinetate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage. - r. -
<br /> R Borcower shall have the right to have any proceedings begun by Lender to enforce this Mortgagc discontinued at any time
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