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<br /> � s-� U02313
<br /> L.ender's written agreement or applicable law. Borrower shall pay the amount of ali mortgage insurance premiums in the
<br /> manner pYovided under paragraph 2 hereof.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thcreon, shali becomc additional
<br /> � indebtedness of Borrower ucured by this MoRgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> amounts shall be payable upon notice from Lender to Borcower requesting payment thereof, and shatl bear interest from the
<br /> � date of disbursement at the rate payable from time te time on outstanding principal under the Note untess paymmt of I
<br /> s interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to inwr any expense or takc
<br /> any action hereunder.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Proper[y. provided
<br /> that I.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> j interest in the Property.
<br /> 9. Condemnatbn. ?he proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> 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 m Lendee
<br /> In the event oE a total taking of the Property. the proceeds shall 6e applied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borrowec In the event of a partial taking of the Property. unless Borrower and Lender
<br /> oeherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> � as is equal to that propoRion which the amount 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 iaking, with the balance of the proceeds
<br /> paid to Borrower. •
<br /> If the Property is abandoned by Horrower. or if. after notice by Lender to Borrower that the condemnor offers to make
<br /> an award or setHe a claim for damages, Borrower fails to respond to Lender within 30 days after the dare such notice is
<br /> mailed. Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair 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 shatl not extend
<br /> ! or postpone the due date of the monthly instatlments referrcd to in paragraphs 1 and 2 hereof or change the amount of
<br /> s such instatlments `
<br /> 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured 'a
<br /> � ; by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate [o release, in any manner, �- . � . � � ; �
<br /> ' � the liability of the original Borrower and Borrower's successors in inrerest. 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 reason of any demand made by the original Borrower and Borrower's successors in interest
<br /> il. For6earance by Lender Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> ? otherwise afforded by applicable law, shatl not be a wniver of or preclude the exercise of any such right or remedy.
<br /> ' The procurement 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 secured by this Mortgage. '
<br /> ± 12. Remedies CumolaNve. All remedies provided in ihis Mortgage are distinct and cumulative to any other right or �'
<br /> remedy under this Mortgagc or afforded by law or equity, and may be exercised concurrently, independentty or successively. . . .
<br /> ; ; 13. Successors and Assigos Bound; Joint and Several Liablity; Captfons. The covenants and agreements herein ;. � . � . �. .
<br /> contained shall bind, and the rights hereunder shall inurc to, the respective successors and assigns of Lender and Borrower,
<br /> � subject to the provisions of paragraph 17 hereof. AII 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 no[ice to '
<br /> j 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 /> � (b) any notice to Lender shalt be given by certified mail, return receipt requested, to Lenders address stated heroin 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 I.ender when given in the manner designated herein.
<br /> { IS. Uniform Mortgage; Goveming i.aw; Severabtltty. This form of mortgage combines uniform covenants for national
<br /> � use and non-uniform covenants with limited variations by jurisdiction to constitute a unifortn securiry instrument covering
<br /> - i real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> � event that any provision or clause of this Mortgage or the Nore conflicts with applicable law, such conflict shall not affect :
<br /> 5 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 Notc are declared to be severable.
<br /> � 16. Borrower's Copy. Borrower shall be furnished a confortned copy of the Note and of this Mortgage at the time
<br /> ' ; of eaecution or after recordation hereof.
<br /> 17. Tranafer of the Property; Assumptlon. If all or any part of the Property or an interest therein is sold or transfetted
<br /> , } by Borcower without Lender's prior written consent, 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 appliances, (c) a transfer by devise,
<br /> descent or by operation of law upon the death of a joint tenant or (d) the grent 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 Mortgage to be � �
<br /> j immediately due and payable. L,ender shall have waived such option to accetecate if, prior to the sale or transfer, Lender
<br /> ? and the person to whom the Property is to be sold or transferred reach agreement in writing that tfie credit of such person
<br /> ' y is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shaU request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interesi has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br /> ? obligatioas under this Mortgage and ffie Note.
<br /> , � If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> ; i paragraph t4 hereof_ Such notice shatl provide a period of not less than 30 days from the date the notice is mai'led within
<br /> , t which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> `'. I.ender may, without fur[her notice or demand on Borrower, invoke any remedies permitted by paragreph 18 hereof.
<br /> ' Nox-Urt�FoeM CovExeNTs. Honower and Lender further covrnant and agrce as follows:
<br /> ' � 18. Accele�atioa; Remedtm. Fscept as provided io para�raph 17 hercof, upon Borrower's breach of any covenant or
<br /> ��` �� ? � aQreement of Borrower in this Mortgage, includfag the covenants to psy when due any soms secvrcd by thie Mortgage. S �
<br /> `% Lender prlor to acceleraHon shall mail notice to Borrower as provided in paraqnph 14 hercof specifying: (1) t6e 6reac6;
<br /> ; (2) the actlon reqdred to cure auch breach; (3) a date, not less than 30 days from the date /he notice B mailed to Borrower, ___. . ��'Y;
<br /> by which soch breach mnst be cored; and (4) t6at tailure to cure such breach on or beforo tLe date specified in t6e noHce �,�'�
<br /> , � may mult in accelera0on of tbe su�re securcd by this Mortgage, forectosore by judicial proceeding and sale of the Propecty. �"` ' :� `
<br /> The not(ee shall tnrtber inform Borrower of the rlght to refnsfate aker acceleration and the right fo assert in the foreclosure � � `
<br /> ' praceeding the nont:teteeee oE a defanit o�a�ry olher defense of Borrower to acceleration and foreclosure. If Me breach
<br /> '• e ffi not cored o0 or beforo the date speciRed in the no8ce, Leader at I.c�ePs option may declare all of the sums securcd by + '
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<br /> 1 ' thls Mort�tge to be immedLtdy dae rnd payable withoot furlher dcmaod and may foreclose by judlcial proceedivg. Lender ; �v �
<br /> ' ' � s6a11 be entitled to coUect Io sac6 proceedi� aU expe�es oE toreclosure, indudt�, but aot ilmited to, costs of docnmentary
<br /> . ! evidence> abstraeb and Ntle reports. ` � . . `.
<br /> 19. Barrowe�'s RIRht to Reimtate. Notwithstanding Lendec's accNeration of the sums secured by this Mongage.
<br /> Borrower ahall have t6e dg6t to have any proceedings begun by Lender to eoforce this Mortgage discontinued at any time
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