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<br /> 78-. UU2315
<br /> Lenders written agreement or appiicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> '- ma�er pYovided under paragraph 2 hereof.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> ` indebtedness of Borrower secured by this Mortgage. Un7ess Borcower an3 Lender agree to othar ternis of paymani, such
<br /> (i amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> ( " date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> interest at auch rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> permissible under applicable Iaw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> any action hereundee
<br /> i S. InspecHon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> ; that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> interestin the Property.
<br /> 9. Coademnstloa. The 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 to I.ende�.
<br /> In the event of a total taking of the Properry, the proceeds shall be applied to �he sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br /> ? otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is equaP to that propodion which the amou�t of the sums secured by chis Mor[gage 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 Borrowec
<br /> - If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that :i�e condemnor offera to make
<br /> an award or setNe a daim for damages. Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or npair of the
<br /> Property or to the sums secured by this Mongage.
<br /> Unless Lender and Borrower otherwise 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 installmenLs.
<br /> 10. Borrower Not Released. Extension of the time for payment or modification 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 Borrower and Borrower's successors in interest. Lender shall not be required to commence � � .
<br /> ? proceedings against such successor or refuse to extend cime for payment or otherwise m«Iity amortization of ihe sums
<br /> secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br /> 11. Forbearance 6y Lender Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> F otherwise afforded by applicable law, shall not be a waiver of or predude the exercise of any such right or remedy.
<br /> The pracurement 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 Camulative. All remedies provided in this Mortgage am distinct and cumulative to any other right or
<br /> remedy under this Mortgage or afforded by law or equity, and may be exercised concurrentty, independently or successively. �� �
<br /> l3. Saccessors and Assigns Bound; Joint and Sevenl Liab7ity; CapNons. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder shalt inure to, the respective successors and assigns of Lender and Bonower,
<br /> { subject to the provisions of paragraph 17 hereof. Atl 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. NoHce. E�ccept for any notice required under applicable law to be given in another manner, (a) any notice to ,i..
<br /> Borrower provided for in this Mortgage shall be given by mailing such noiice 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 shall be given by certified mail, retum receipt requested, to Lender's address stated herein or to
<br /> i 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 hcrein.
<br /> i 15. Uniform Mo�tgagr, Governing Law; Severebility. This form of mortgage combines uniform covenants for national
<br /> i use and non-uniform covenants with limited variations by jurisdiction to cvnstitute 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 /> event that any provision or dause of this Mortgage or the Note conHicts with appticable law, such conflict shall not affect
<br /> j other provisions of this Mortgage or the Note which can be given effect without the conflicting pmvision, and to this
<br /> ; end ihe provisions of [he Mortgage and the Note are dedared to be severable.
<br /> J 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after mordation hereof.
<br /> � 17. Transfer oE t6e Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or enwmbrance subordinate to
<br /> j this Mortgage, (b) the creation of a punhase money security interest for household appliances, (c) a transfer by devise,
<br /> ; descent or by operation of 1aw upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br /> ; not eontaining 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. Lender shall have waived such option to accclerate 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 the credit of such person
<br /> is satisfactory to Lender and that the intercst payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> ! shali request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> ' interest has executed a wri[ten assumption agreement accepted in writing by Lender, Lender shall release Borrower from a11
<br /> j obligations under this Mortgage and the Nota
<br /> � If L.ender exwcises 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 date the notice is mailed within
<br /> � which Borrower may pay the sums declared due. If Boaower fails to pay such sums prior to the expiration of such period,
<br /> � Lender may, without further notice or demand on Borrower, invokc any remedies permitted by paragreph 18 hereof.
<br /> � Nox-UN�PoaT.t Covsxe�'s. Borrower and Lender further cavenant and agree as followr.
<br /> 18. Acceleratloa; Remedies. Excepl av provided In paragraph 17 heroof, upon BorrowePs breach of any covenant or
<br /> i rgreement of Borrower in this Morfgsge, includi� the covenants to pay when due any sums secured by this Morlgage, t
<br /> I.ender prfor to accekratlon s6a11 ms�7 noHce to Borrower as provlded in paragraph 14 hercof specifying: (1) the bnach;
<br /> (2) ffie action reqoircd to carc such breaeh; (3) a date, not leas /han SO dsys from the dale the no8ce is mailed to Borrower, , , , y "'�
<br /> " by which euch brwch mmt be cnred; and (4) that faflure fo curc such brcach o0 or before the date spedfied "m the notice ' fl • , '
<br /> ` 3y may result in accderation of the sums secured by this Mortgaqe, foreclosurc by judicial proceeding and sale of the Property. � �0 � '
<br /> 1 ! Tbe notfce s6a11 tarther Inform Borrowec of the right lo rcinstate after acceleration and the rfght to assert ia the foreclosure ; �
<br /> « proeeedlug the non-e�cbtence of a dehnit or any olher defense of Borrower to acederatton and foreclosurc. if the 6reach
<br /> k �is not cu�ed on or befon the date apeciBedZn the notiee, Lender at i.ender's option may deciare all of the sums securcd 6y
<br /> � this Mo�t�age to be immediatdy due and payrble without furlher demsnd and msy foreclose by judictat proceeding. Le�er 's �
<br /> s6a11 be mtitled to rnllect ta socb proceedlug alt expenses ot toreclosure, includiog, but not limited tq costs oi documentary �' �
<br /> ? evldence. a6etrscts and tltle reports. ' `'
<br /> i lA Borrowe►°s Right to Rdnstate. Notwithstanding Lender s acceleration of the surns secured by this Mortguge, �
<br /> ' Bocrower shall have the right to have aay proceedinga begun by Lender to rnforce this Mortgage discontinued at any time
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