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<br /> Lender's written agreement or applicable law. Borrower shall pay ffie amount of aIl mortgage insurance premiuma in the
<br /> � manner provided under paragraph 2 hemof. I
<br /> � Any amoants disburoed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> , ; indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agrce to other terms of payment, such
<br /> I amounb shall be payable upon notice from Lender to Borrower requesting payment thereof, and shali bear interest from the (
<br /> date of disbursement at the rate payable from time to time on outstanding principal under the Note unless paymrnt of
<br /> i interest at auch rate wo u l d b e contrary to applicable law, in which event such amounta shall bear interest at the highest rate
<br /> 1 permisaible under appiicable law. Nothing contained in this paragraph 7 shal] require Lender to incur any eapense or take
<br /> ;� nny action hereunder.
<br /> ? 8. InapecBon. L.ender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> : f tha[ Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> - � interest in the Property.
<br /> 9. Condemnatfon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> ? condemna6on 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 /> j In the event of a rotal taking of the Property, the proceeds shall be apptied to the sums secured by this Mortgage.
<br /> with tMe escess, 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 shnll be applied to the sums secured by this Mortgage such proportion of ihe 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 the date of taking, with the balance of the proceeds
<br /> paid to Borrower. ;;'
<br /> r i If the Property is abandoned by Borrower, or if, afrer notice by Lender to Borrower that the condemnor offers to make
<br /> an award or settle a claim for damages, Bonower fails to respond to Lender within 30 days after the date such natice is
<br /> maifed, Lender is authariud to collect and apply the proceeds, at Lender's option, either to restoration or repair of tl�e ;
<br /> � Property or to the sums secured by this Mortgage.
<br /> ! Unless Lender and Borrower othenvise agree in writing, any such application of proceeds to principat shall not extrnd
<br /> ' or postpone the due date of the monthty installments referred to in paragraphs 1 and 2 hereof or change the amount of r
<br /> ' such installments.
<br /> � 10. Borrower Nof Released. Extension of the time for payment ar 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 rclease, in any manner,
<br /> ; j the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> S proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> ; a secured by this Mortgage by reason of any demand made by the originat Borrower and Borrower's successors in iMerest
<br /> � 11. Forbearance 6y Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or .
<br /> iotherwise afforded by applicable taw, shall not be a waiver of or preclude the exercise of any such right ar remedy. i
<br /> The procurcment of insuranae or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br /> j right to acceleTate the maturity of the indebtedness xecured by this Mortgage.
<br /> i 12. Remedies CnmulaHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> , � semedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently o� successively.
<br /> 4 13. Soccessors and Assigns Sound; Joint and Severat Lia6llty; CapBoos. The covenants and ngreements herein ,
<br /> , � contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br /> ; subjeci to the provisions of paragraph 17 hereof. All covenants and agreements oP Borrower shall be joint and several.
<br /> � The captions and headings of the paragraphs of this Mortgage are for convmience only and are not to be used to
<br /> � interprot or de8ne the provisions heroof.
<br /> 14. NotSce. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br /> � Borrower provided for in this Mortgage shall be given by mailing such notice by certifled mait 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, rewm receipt requested. to Lender's address stated herein or to
<br /> such other address as Lender may designate by notice to Bo�rower as provided herein. Any notice pmvided for in this
<br /> � Mortgage shall be deemed to have been given to Borrower or Lcnder when given in the manner designated herein. �
<br /> 15. Uniform Mortgage; Governing Law; Sevenbtlity. This form of mortgage combines uniform covenants for national
<br /> � uu and non-uniform covenants with limited variations by jurisdiction to constitute a uniform securiry instrument covering �
<br /> rtal propeny. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> evrn[ that any provision or clause of this Mortgage or the Note conflicts with applicable )aw, such conflict shall not affeet
<br /> other provisions of this Mortgage or the Note which can be given effect without the conNicting provision, and to this
<br /> end the provisions of the MoRgage and the Note are declared to be severabla
<br /> 16. Borrower's Copy. Borrower shall be furnished a confortned copy of the Note and of this Mortgage at the time
<br /> of execution or after recordadon hereof.
<br /> 17. Transfer of the Property; Assumptlon. If all or any part of the Pmperty 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 encumbrance subordinate to
<br /> this Mortgage, (b) the creation of a purchase mo�ey 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 graat of any Ieasehold interest of three years or less
<br /> • not rnntaining an option to pumhase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br /> irnmediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or tra�sfer, Lender
<br /> and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such pecson
<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 /> sball request_ If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interest hu executed a written assumption agreement accepted in writing by Lender, Lender shall release Bonower from all
<br /> obligations under this Mortgage and the Note.
<br /> 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 leas than 30 days from the date the notice is ma�7ed within
<br /> which Bortower may pay the sums declared due. If Bornower fails ro pay such sums prior to the expiration of such period,
<br /> L.ender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> Nox-U�naortrf CovEtvwN�rs. Horrower and Lender further covenant and agrec as follows:
<br /> 18. AcceleraHon; Remediea. $zcept as pro�ided in pa�raph 17 hercof, upon Borrowets breach of any covenant or �
<br /> agreemeat of Bomower in tlds Mortgage, indudfug the covenants to pay when due any soms secured by this Morlgagq
<br /> I.enderprior to acceleptlpo s6a11 mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; �-�
<br /> (ZI the aetlon +equired to c�ae sac6 breach; (3) a date, not teas than 30 days from the date the noUce is mailed to Borrower. �- �"`" '"
<br /> by w61c6 sucb breach moet 6e carcd; aod (4) that feilure to curc such breach on or before t6e date specifled io the nottce ' " ':
<br /> may result in accelecadon of t6e sams securcd by thls Mortgaqe, foreclosure by judiclal proceeding avd sale of tde Property. * �
<br /> T6e.aotice ehall [mther intorm Borrower oE the rjgi�f to rclnetate aftv acceleration and the rtght to asseR in t6e foreclosure J .e
<br /> P�oB � ���teoce ot a defautt or apy other defeme of Borrower fo acceteration and fomlosan. If the 6reach
<br /> is-'aot ca�ed on or before 1he date speci8ed in the mHce, Lender at Lender's option may declare a1I of the sums aecured by , `"�1
<br /> thie Mo � :o n� i��a�a 'a�e �a x � ' �'
<br /> � y payable wilhout furlher demand and may fareclose by judteisl proceediug. Lender � y
<br /> aLall be entitled to collect in such proceedlag all expemea oE forectosun, 9adndtog, but not Bmited to, costs of docomeotary � � "�t-i�
<br /> evldence, abstracts aod Utle xpoaYa. ... s y,�.. . '
<br /> 19. Boreawei°e Ri�t to Relmtsta Nohvit6standing Lender's ncceleration of the sums secured by this Mortgage,
<br /> Borrower ahail have We right to have any proceedings begun by I.ender to enforce this Mortgage discontinued at any time
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