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<br /> 7s- 001861 �
<br /> Lender's written agrcement or applicable law. Borrower shali pay the amount of all mortgage insurance promiums in the
<br /> meoner pYovided under paragraph 2 hereof.
<br /> � Any amounts disburaed by L.endet pursuant to this paragraph 7, with interest thcnon, shall become additiona]
<br /> � indebteciness of Borrower xcured by this Mortgage. Unless Bortower and Lender agme to other terms of paymrnt, such �
<br /> amoqnts shaU be payable upon notice from Lender to Horrowcr requesting payment thertof, and shall bear interest from the
<br /> ' date of d'uburxment at the rate payable from time to time on oiitstanding principal under the Note unless payment of
<br /> interat at auch rate would be contrary to applicable law, in which event such amounts shall bear inferest at the highesi rate
<br /> permiasible undcs applicable law. Nothing contained in this paragraph 7 shail require Lender to incur any expense or take
<br /> any actioa hereunden
<br /> 8, Inspection. Lender may make or cause to bc made reasonable entries upan and inspections of the Property, provided
<br /> that Lender sha1T give Borrowor notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> .- � interest in the Property.
<br /> 9. Condemaatlan. ?he proceeds of any award or ciaim for damages, direct or consequentisl, in connection with any
<br /> > condemnation or other taking of the Property, nr pari thereof, or for conveyance in lieu of condemnation, are hereby assigned � '
<br /> � and shall be paid to Lender.
<br /> In the event of a total taking of the Property, the proceeds shalt be applied to the sums secured by this Mortgage. �
<br /> with the excess, if any, paid ro Borrower. Tn the event of a partial taking of the Property. untess Borrower and Lender
<br /> i otherwise agree in writing, there shall be applied ro the sums secured by this Mortgage such proportion of the proceedR
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<br /> � as is equai to that propnrtion which the amcrunt of the sums secured by this Mortgage immediately prior to the date of
<br /> � taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br /> paid to Borrower.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br /> , i an award or settle a claim for damuges, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> # mailed, Lender is avthoriud 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 Mortgaga
<br /> { LJnless Lender and Borrower otherwise agree in writing, any such appiication of proceeds ro principal shall not extend �,
<br /> � or postpon the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> 3 such installments.
<br /> : ,; 10. Borrower Not Rdeaxd. Extension of the time for payment or modi8cation 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 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 this Mortgage by rcason of any demand made by the original Bo�rower and Borrawer's successors in interest.
<br /> g ] f . Forbearance by Lender Not a R'atver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> } otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy_
<br /> � The procurement of insurance or the payment of taxes or other Iiens or charges by Lender shall not be a waiver of LendePs
<br /> � right to accelerate the maturity of the mdebtedness secured by this Mc�rtgage.
<br /> 12. Remedies Comulative. All remedies provided in this Mortgage are distinct and cumutative to any other right or �.
<br /> . � remedy uncier this Mortgage or afforded by law or equity, and may be crercised concurrenUy, independentTy or successively_
<br /> ! 13• Socceasors aad Assigns Bound; Joint and Stveral Liability; Captlons. The covenants and agreements herein
<br /> � contained shall bind, and the rights hereunder shall inure to, the res�ective successors and assigns of Lender and Berrower,
<br /> subject to the provisionc of paragraph 1 '7 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 are not to be used to
<br /> interpret or define the provisions hereof.
<br /> 14. Notice. Except for any notice required under applicable law ro 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 Lender as provided hercin, and
<br /> (b) any notice to Lender shall be given by certi8ed mail, return receipt requested, to Lender's address stated herein or to
<br /> such other address as Lender may designate by notice to Borrower as provided heroin. Any notice provided for in this
<br /> Mortgage sfiall be deemed to have been given to Borrower or Lender when given in the manner designated hercin.
<br /> 15. Uniform Morlgage; Goveming Law; Seversb0ity. This form of mortgage combines uniform covenants for nationat
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security inswment covering
<br /> real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is ]ocated. In the '
<br /> event that any provision or dause of this Mortgage or the Nore conflicts with applicabte law, such conflict shall not affeM
<br />� other provisions of this Mortgage or the Note which car� be given effect without the con0icting provision, and to this
<br /> end the provisions of the Mortgage and the Note are declared to be severable.
<br />� 16. Borrower's Copy. Borrower shall be fumished a conformed copy of the Note and of this Mortgage at the time
<br /> oF execution or after recordation hereof.
<br />�` 17. Tnnefer oE the Property; Assumptlon. If all or any part of the Property or an intemst therein is sold or transferred
<br /> by Sorsower without L.ender's prior written consent, excluding (a) the creation of a lien or encumbrahce subordinate to
<br />� this Mortgage, (b) the creation of a purchase money security interest for household appliances, (o) a transfer by deviae,
<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 containmg an option to purchase, Lender may. at Lender's option, declare all the sums secured by this Mortgage to be
<br />� immediately due and payable. Leader shall have waived such option to accelerate if, prior to the sale or tranefer, Lender
<br />` and the person to whom the Properry is to be sold or transferred roach agreement in writing that the credit of such person
<br /> is satisfactory to Lender and that the intecest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall request. If Lender has waivod the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interat has executed a written assumption agreement accepted in writing by Lmder, Lender shall release Borrower from aU
<br /> obligateons under this Mortgage and the Note.
<br /> If L.ender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> , paragraph 74 hereof. Such notice shall provide a period of not Iess than 30 days from the date the nodce is mailed within
<br />, which Borrower may pay the sums declared due. If Boaower fails ro pay such sums prior to the expiration of such period,
<br /> � Lender may, without furthcr no6ce or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />� Notv-Utviroxt�f CoveNertrs. Borcower and Lender further covenart and agrce as follows :
<br /> 18. Aeceleration; Remediea. Except av psovlded In pars};roph 17 hereof, upon BorrowePs brcac6 of any coveoant or
<br /> agreement ot Borrower In thts Morlgsigq tactodi� the covenants to pay when dae any soms secored by t6b Morlgage,
<br /> Lender prlor to accehrallon ehalt mail notke M Borrower as provided in paragraph 14 hereof specifying: (1) the bieacb;
<br /> (2) Iheactba required to cuee euc6 6feach; (3) a date, not lesa than 30 days from the date the notice ls mailed to Borrower, ,y �
<br /> by whlch soc6 breac6 most be ca�ed; aod (4) t6at failure lo curo suc6 brcac6 on or 6eforc the dale specified in the mtice
<br /> may nwlt In acceleratlon ot tbe wuu secured by thb Mortgaqe, fomlosurc by judicial proceeding sod sale oE the Property. �
<br /> The notice aball fncther.inform Borrower of thr right to reiffitate after accderation and the rlght to assert in the forccloauro
<br /> proceeding t4e nou-enidence:of a dehult or any ot6er defense of Borrower to acceleratbn and foreclosnre. If the 6resch
<br /> b. not caeed on or before tde datc spedBed in �he noHcq I.ender at Le�er's opUon may declare sll oP t6e sums secured by
<br /> �ib Mo�e to 6e Immediate�y doe rnd payabk wlthont furlher demand ead may foreclose by judtctal proceediog. Lender
<br /> s6�116e�enNNed to collect ia sac6 proceediue alt experoea of foreclosure, ioctudiog, 6ot not Iimked to, cosb of documentary
<br /> . � . � � ' � � �� evldeace,.abetracls�aod Iitle rcpoAs. � � . � � . � � . . . �
<br /> 19. Borro�►eds Ws6t to 'Reimtate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br /> t Bo[rowei shall have We dght !o have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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