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<br /> Lender's written agreement or applicable law. Borcower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pCovided under paragraph 2 hereof.
<br /> i Any amounts disburscd by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> (�i indebtedness of Borrower xcund by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> amounts shal! be payable upon no[ice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> ( � date of disbursement at the rau payable from time to time on outstanding principal under the Note unless payrttrnt of
<br /> � intercst at such rate would be contrary to applicable law, in which event such amou�ts 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 hereunder.
<br /> 8• InspecHon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> i that Lender shall give Boaower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> I interost in the Property.
<br /> ; 9. Condemnallon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> ' condemnallon or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigrted
<br /> I and shall be paid to Lender. '
<br /> ` In the event of a total taking of the Property, the proceeds shali be applied to the sums secured by this Mortgage.
<br /> y with the excess, if any, paid to Borrowec In the event of a partial taking of the Property, unless Borrawer and L.ender
<br /> � otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> { as is equat to ihat proportion whic6 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 taking, with the balance of the proceeds
<br /> { paid to Borrower.
<br /> i If the Property is abandoned by Borrower, or if, after notice by Lender to Horrower that the condemnor offers to make
<br /> � an award or settle a claim for damages, Borrower fails to respond to Lendcr within 30 days after the date such notice is
<br /> mailed, Lender is suthorized to collect and apply the proceeds, at Lender's option, either to restoration or ropair of the
<br /> ` Propeny 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 monthty installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> ; such installmrn[s.
<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 operete to release, in any manner,
<br /> � the liability of the original Borrower and Borrower's successors in interest Lender shall not be rcquired to commence
<br /> � proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> f secured by this Mortgage by roason of any dcmand made by the original Borrower and Borrower's successors in interest. '
<br /> :, i il. For6earance by Lender Not a R'siver. Any forbearence by Lender in exercising any rigbt 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 or the payment of taxes or other liens or charges by Lender shalt not be a waiver of Lender•s
<br /> i right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> � l2. Remedies CumalaHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> � remedy under this Mortgage or afforded by law or equity, and may be exercised concvrrently, independently or successively.
<br /> 13. Snccasors and AffiIgos Bound; Joint and Several i,iab7ity; CapHons. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder shall inure to, the mspective 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 /> 14. NoBce. P.accept for any notice required under applicable law to be given in another manner. (a) any notice to �� ,,,,,
<br /> � Borrower provided for in this Mongage shalt be given by mailing such notice by certified mail addressed to Borrower at !qJ
<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, return receipt requested. to Lender's address stated herein or to
<br /> � such other address as Lender may designate by notice to Borrower as provided herein. Any nodce provided for in this
<br /> Mortgage shall be deemed to have been given to Borrower or Lceder when given in the manner designated herein.
<br /> 15. Un)form Mortgage; Goveming Law; Severabillty. This form of mortgage combines uniform covenants for national
<br /> use and nornu�ifortn covenants with limrted variations by jurisdiction to constitute a uniform security insWment covering � ' �
<br /> real property. This Mortgage shall be govemed 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 Note conflicts with applicable law, such conflict shall not affect
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> end the ptovisions of the Mortgage and the Note are declared to be severable.
<br /> 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execu[ion or after recordation hereof.
<br /> 17. Transfer of the Property; Assumpflom 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 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 grant of any leasehold interest of three years or less
<br /> not containing an option to purchase, Lender may, at Lender's option, declare alI the sums secured by this Mortgage to be
<br /> � immediately due and paysble. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
<br /> and the person to whom the Properry is to be sold or transferred roach agreemmt in writing that the credit of such person
<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. 7f Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> iaterest has executed a written assumption agrcement accepted in writing by Lender. Lender shall release Borrower from all
<br /> obligations under t6is Mortgage and the Note.
<br /> `� If L.ender 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 date the notice is mailed within
<br /> � which Borrower may pay the sums declared due. If Borrower fails to 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 1 S hereof.
<br /> Norr-UtvrFortnr Covexwrrrs. Borrower and Lender further covenant and agree as follows :
<br /> ,� � 18. Acceleratlon; Remediea. E=cept as provided in paranrsph 17 hereof, upon Borrower's 6resch of any covenaot or � �
<br /> agreemen! of Borrower ia tfiLs Mortgage, including fhe covenants to pay wheo due any sums securcd 6y this Morlgsge,
<br /> i.ender pdor to acceleraftoo s6a11 mail noHce to Borrower ss provided in paragraph 14 hercof speclfying: (1) the breach;
<br /> (� the acHon reqaiced to cun euch breach; (3) a date, not Ieas than 30 days fmm t6e date the notice is malled to Borrower, ,- � '
<br /> � by whleh snch 6rcach most be cnred; sod (4) that failure to cure suc6 6reach on or befon t6e date specified ie the noHce t+°'^
<br /> may result In accelentlon of the mmc secarcd by this Mortgs�q forcctosuro by jud(cial proceeding and sale of the Property. �
<br /> T6e notice s6a11 fnrther inform Borrower o[ the rlght to rcmstate aker acceleratbn and the right to assert in the fomlosuro
<br /> p;aceedtng the non-exbteoce ot a. dehult or any othu Aefeuse of Borrower to acceleration and foreclosure. it the breach . '
<br /> Is oot cured on or be[ore the date specified in �e noHce, I.ender at Le�ds optbn may dectare all of the sums securod 6y % ' ', ;+c'�
<br /> thb Mort�ge to be (mmcdlstely dae aod paya6le w(thout furlher demand and may foreclose by jodletal proceeding, Lender `
<br /> s6rll be entltled to coDect in such proceedtng all expe�s of foreclosure. inclod)ng, bat not Ilmlted to, cosb of docamentary ` ; � -u
<br /> erldence, abstracta and title repoAs. ..' , # -. :.
<br /> �. 19. ,Eorrower�e Ri`ht to Reiusfate. Notwithstanding L.ender's acceteration of the sums sewrcd by this Mortgage.
<br /> � Horrower shall have the dghi to have any proceedings begun by Lender to enforce this Mottgage discontinued at any time
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