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<br /> Lender's written agreement or applicable law. Boaower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pfovided under pazagraph 2 hereof.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, � with interest thereon, shall become additional
<br /> indebtedness of Borrower securcd by this Mongage. Unless Borrower and Lender agree to other terms of payment, such
<br /> 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 such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> : permis�'ble under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expe�e or take
<br /> any action herounder.
<br /> � 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspeMions of the Property, provided
<br /> a that L.ender shall give Borrower notice prior to any such inspection specifying reasonabte cause therefor related to Lender's
<br /> ; interest in the Property.
<br /> , 9. CondemnaHon. 7'he proceeds of any award or claim for damages, direct or co�sequential, 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 Lender.
<br /> In the event of a total taking of the Properry, the proceeds shall be applied to the 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 apptied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior ro the date of
<br /> taking bears to the fair market value of the Property immediately prior to tbe date of taking, with the balance of the proceeds
<br /> paid to Borrowec
<br /> If the Property is abandoned by Borrower, or ef, after notice by Lender to Borrower that the condemnor offers to make
<br /> an award ar settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed. Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> Properly 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 extend
<br /> ' or postpone the due date of the month7y installments referred to in paragraphs 1 and 2 hereof or change the arnount of
<br /> i such installmenu.
<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 in[erest. Lender shall not be required to commenm
<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 demund made by the original Borrower and Borrower's successors in interest.
<br /> I7. Forbesrance 6y Lender Not a Waiver. 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 ar the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br /> i right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> : 12. Remedles Cnmulative. All rernedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> j rcmedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br /> ]3. Socce�ors and Asalgns Bound; Jot�t and Several i.iability; Captions. The covenants and agreements herein
<br /> contained shall bind, and the rights hercunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br /> � subject to the provisions of paragraph 17 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 /> 4 14. NoHce. Except for any notice required under applicable law to be givm 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 Horrower may designate by notice to Lender as provided herein, and „;--».M ., � ,
<br /> � (b) any notice to Lender shalt be given by certified mail, return receipt requested, to Lender's address stated herein or to �>S+iR """
<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 Lender when given in the manner designated herein. �
<br /> { 15. Uniform Mortgagr, Goveming Law; Severa6ility. This Form of mortgage combines uniform covenants for national
<br /> 2 use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instruoirnt covering '
<br /> ; real property. This Mortgage shal! be governed by the law of the jurisdiction in which the Property is tocated. In the
<br /> ; event that any provision or clause of this Mortgage or the Nore conflicts with applicable law, such conftict shall not aftect
<br /> f other provisions of this Mortgage or the Note which can be given effect without the conflictins provision, and to this
<br /> � end the provisions of the Mortgage and the Note are declared to be severable.
<br /> t 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 recordation hereof.
<br /> � 17. Tnosfer of the Property; Assumplion. If all or any part of the Property or an interest therein is sold or transfernd
<br /> by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br /> j this Mortgage, (b) the creation of a purohase money security incerest 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 rzcured by this Mortgage to be
<br /> + immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
<br /> h and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such peison
<br /> � 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 accelerate provided in this paragraph 17, and if Borrower's succasor in
<br /> ` � interest has executed a written assumption agreement accepted in writing by L�nder, Lender shall release Borrower from all
<br /> a obligations under this Mortgage and the Note.
<br /> f If Lender 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 [han 30 days from the date the notice is mailed within
<br /> f which Bomower may pay the sums declared due. If Borrower fails ro pay such sums prior to the expiration of such period,
<br /> d I.ender may, without fueiher notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
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<br /> ' Nola-Uattrox�t CovErrwrr-is. Borrower and Lender further covenant and agree as follow�:
<br /> . y 18. Accderatlon; Remedtes. E:cept aa provided in paregrapb 17 hercof, upon Borrower's bresch of any covenaot or j
<br /> . _� ap'eement of BorcoMer in t6Lt Mortgagy including tt�e covenanfs lo pay wheo due aoy sums secured by t6b Mortgage, � .
<br /> Lender pdor to accehration sba11 ms7 not(ce to Borrower as provlded in paragraph 14 hercof specifying: (1) the breach; g
<br /> , � (2I t6e ae8on reqolred to cure snch 6reac6; (3) a date, not less than 30 days from the date the noNce is mailed to Borrower,
<br /> by whic6 soch bneacd mmt 6e curcd; and (4) tAat fa0uro to core such bresc6 on or before the date speci8ed in the notice "�
<br /> ` � may resnit in secelenUon o[ t6e sums aecarcd 6y tl�is Morfga�;e, foeectosurc 6y judlcial proceeding and sale of the Property. ` �
<br /> The ooNce s6aU fartber ➢ntorm Borrower of the righf to rciastate atYer accelention and t6e right to assert ia tlx foreclosum g.'. t �
<br /> proceedtnQ t6e �ron-ex4Reace of e defsult or any ot6er defense oF Borrowv to acceleratlon and toreclosure. If the breach I
<br /> is oot enred on or bePore the date speci8ed in the aotice, Le�der at LendePs option may declsre a11 of the sums secured Dy
<br /> t61s Moatgage to 6e immedlatdy due aml pa}�ble without furlher demand and may foreclose by judiclal proceedl�. Leoder ` '�
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<br /> . .� aLaU be enNfled fo collect in soc6 proceeding sU acpe�es of forecbnare, inclnding, bot not �imited to, co� of documentary , . , , �
<br /> � � avldmce, a6etracts avd dtle rcpoile.
<br /> - � 19. Bonowe�s Ri`6t to Reimtata Notwithstanding Lender's acceleration of the sums secured by this Moctgage, ,, , �`"`
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<br /> Botzower shall have the rlg6t to have any proceedings begun by Lender to enforce this Mortgage discontinued at any rime �"`
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