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<br /> Lender's written agreement or applicable law. Borrower shail pay thc amount of all mortgage insurance promiums in the
<br /> manner pYovided under paragraph 2 hcreof.
<br /> Any amounts disbuned by Lender pursuant to this paragraph 7. with interest thereon, shall become additional
<br /> indebtedness of Borrower xcured by this Mortgage. UNess Borrower and Lender agree to other terms of payment, such
<br /> ! amoants shaA b� payabic upon notiee from Lender to Borrower requesting payment thereof, and shail bear interest from the
<br /> E date of disburxment at the rau payable from time to time on outstandiag prin¢ipal under the Note unless payment of
<br /> � interest at such rate wonld be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> permiasible under applicabielaw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> Q any action herounder. '
<br /> ' 4 8. TnspecHon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> $ that Lender shall ve Borrower notice rior to an such ins
<br /> 8� p ' y pection specifying reasonable cause therefor related to Lender's
<br /> ? inrerest in the Property.
<br /> ' j 9. CondemnaHon. Thc proceeds of any award or claim for damages, direct or consequential, in connect3on with nny
<br /> ; condemnation oe other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigne.d
<br /> � and shall be paid to Lender. "
<br /> j In the event of a total tnking of the Property, the proceeds shall Ix applied to the sums secured by this Mortgagc.
<br /> t wi[h the excess, if any, paid to Borrower. In the event of a partial taking of the Properry, unless Borrower and I.endee
<br /> otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the pruceeds
<br /> taz is equal to that proportion which the amovnt of the sums secured by this Mortgagc immediatety prior to the date of �
<br /> � taking bears to the fair market value of the Property immediately prior ro the date of taking, with thc balance of tht proceeds ;,
<br /> i paid to Borrower. S
<br /> � If the Froperty ie abandoned by Borrower, or if, after notice by L,ender to Borrower that the condemnor offers 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 /> y mailed. L.ender is authorized to collect and apply the proceeds, at Lender's opNon, either to restoration or mpair of tlx
<br /> Property or to the sums secured by this Mortgage.
<br /> ' � Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not exte�d
<br /> ' 'i or postpone the due date of the monthly installments referred to in parugraphs 1 and 2 hereof or change the amount of j,
<br /> such installments.
<br /> 3 10. Borrower Not Relessed. Extension of the time for payment or rnodification of amortization of the sums securcd
<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 oP the original Borrower and Horrowers successors in interest. Lender shall not be required to comrnence
<br /> j proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of th� sums '
<br /> ucured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in 'rnterest, f'
<br /> � 11. Forbearance by Lender 1Vo! a Waivem Any forbearance by Lender in exercising any right or remedy hereunder, or >'
<br /> � otherwise afforded by applicable Iaw, shall not be a waiver of or preclude the exercisc of any such right or remedy.
<br /> � 'fhe procurement of insurance or the payment of taxes or other licns or charges by Lender shall not be a waiver of I.ender's
<br /> ? right to accelerate the maturity of the indebtedness secured by this Mortgage. `
<br /> � 12. Remedies CamulaNve. All remedies provided in this Mortgage arc distiact and cumulative to any other right or i
<br /> s remedy uodv this Mortgage or afforded by law or equity. and may be excrcised concurrently, independendy or successively.
<br /> : $ 13. Soece�ors and Asetqns Bouod; Joint and Several i.iability; Captions. The covenants and agreements herein ��
<br /> � j wntained shall biod, and the rights hereunder shall inure to, the respective successors and auigns of I.ender and Bormwer, 4,
<br /> } subject to the provisions o€ paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and scveral. �
<br /> � 'Ihe captions and headings of the parugraphs of this Mortgage are for convenience only and are not to be used to
<br /> 3 interpret or deflne the provisions hereof. i
<br /> 14. Nottce. Excep[ for any natice required under applicable law to be given ic� another manner, (a7 any not9ce 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 designace by notice to Lender as provided herein, and 3
<br /> (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 addrcss as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this `
<br /> � Mortgage shall be deemed ro have been given to Borrower or Lender when given in the manner designated herein. �
<br /> ; I5. Uniform Mortgage; Governing I.as�; Severab0ity. This form of mortgage combines uniform covenants for national �
<br /> � use 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 jurisdiction in which the Property is located. In the
<br /> even[ 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 eRect without the conNicting provision, and to thu
<br /> end the provisions of the Mortgage and the Note are declared to be severable.
<br />� � 16. Borrowds Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> f, # 17. Transfer of the Property; AssumpHon. If all or any part of the Property or an interest thenin is sold or transferred
<br /> by Borrower wiihout Lender's prior written consent, excluding (a) the creation of a 2ien or encumbrance subordinate to
<br />!. ( � this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br /> I } descent or by operation of law vpon the death of a joint tenant or (d) the grant of any leasehold interest of three years or ]ess
<br /> not containing an optio� to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br /> I �' immediatdy due and payable. Lender shall have waived such option ro accelerete if, prior to the sale or transfer. Lender
<br /> f � and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such pecson
<br />: a 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 accekrate provided in this paragraph 17, and if Borrower's successor in
<br /> interest has executed a written aasumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br /> f obligations under t6is Mortgage and the Note.
<br /> If Leader 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 dete the notice is mailed within
<br />, � � which Borrower may pay the sums dxlared due. If Borrower fails to pay such sums prior to the expiration of such period,
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<br /> Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> � Nox-UxrroatK Covexerrrs. Borrower and Lender funher covenant and agrce as follows:
<br /> , ; 1& Acoderaflon; Remedles. Fscept as provided in paraqroph 17 hereof, upon Borroweta brcac6 of any covenant or
<br /> � agrcemeat ot Bomower In thb Morlgsge, includiug fhe covemnts to pay when dae any aums aecured by t6Ls Mortgage,
<br /> I.euder pcior to accehcatloo shWl ma0 notice to Borrower as provided In parag�aph 14 hereot speclfying: (1) the breach;
<br /> (2)the action reqoired to curo e�rch breach; (3) a date, not le� than 30 days trom the date the notice is msiled to Borrower,
<br /> by which'snch 6reaeh m�t 6e enrcd; and (4) that failurc to cure suc6 6reach on or before the date speclfled in the notice '^ r�
<br /> ;� may result ln accelerallon ot t6e surnt securcd by thia Morfgagq foreclosure by judiclal proceedi�g and sate of t6e Property.
<br /> Tbe nofice s6a11 turther InEorm Bocro�ver of the right to relnstate aker secelerallon and the right to assert 1n the foreclosure �
<br /> '! proceediu<• the �ron-e:iatmce o! a default or any ot6er defeme of Sorrower to acceleratlon and foreclosure. IF the 6rcach
<br /> is not corod on or be[orc the d�te spedfled in,the noHce, Lender at i.ender's option may declare sll oF the sums securcd by.
<br />{'� l6is Mortg,�ge to be immediately dne and payable wlthout further demand u�d may forec/ose 6y judicial proceeding. Lender
<br /> aLall bq eAfltled to coDect in'such proceedi� aU e:penees of foreclosure, toctuding, 6ut not limked to, costs of docnmentary
<br /> evldence:abetracb and title repoate.
<br /> T 19. Bomowe�s ' R1�Ltlo' Reiastate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />� � �� � � � . Botiowei sL�all have tlu right to have any proceedings begun by Lender to� enforce this Mortgage discontinued at any time
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