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<br /> Lender•s written agnement or applicable law. Borrower shall pay the amount of all mortgage insurxnce premiums in the
<br /> maaner pYovided under paragraph 2 hereof.
<br /> Any amounts disbuned by Lender pursuant to this paragraph 7, with interost thereon, shall become additional
<br /> indebtedness of Borrower secured by this Mortgage. Uniess Horrower and I,ender agree to other terms of payment, such
<br /> �� amounts shall be payable upan notice from Lender to Borrower requesting payment thereof. and shalt bear interest from the
<br /> date of disbursement at the rate payable from time to time on outstanding principal under the Note vnless payment of
<br /> �' interost at suc6 rate would be contrary to applicable lew, in which event such amounts shall bqr interest at the highest rate
<br /> � permissible under applicable law. Nothing contained in this parngraph 7 shall require Lender to incur any expense or take
<br /> ; any action hereunder.
<br /> � 8• InapecHon. Lmder may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> fthat Lender shail give Borrower notice prior to any such inspection specifying reasonable cause therefor related to LendePs
<br /> interestin the Property.
<br /> � � 9. Condemnstlon. The proceeds of any award or ctaim for damages, direct or consequentiai, in connection with any
<br /> ' condemnation or other takin of the Pro
<br /> � S perty, 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 Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> : with the excess, if any, paid ro Borrowec Tn the event of a partial taking of the Property, unless Borcower and Lender
<br /> j otherwise agree in writing, there shali be apptied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is equal to ffiat proportion which the amount of the sums secured by this Mongage immediately prior to the date of
<br /> ; 1 taking bears to !he fair market value of the Property immediately prior to the date of taking, with [he balance of the proceeds
<br /> i 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 Lender within 30 days after the daro 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 /> ; Property or to the sums secured by this Mongage.
<br /> . � Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principa] shall not extend
<br /> : or postpone the due date of the monthly instatlments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> such installments.
<br /> ' 3 10. Borrower Not Released. Extension of the time for paymmt or modification of amortization of the sums secured
<br /> j by this MaRgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br /> S 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 time for payment or otherwise modify amortization of the sums
<br /> � secured by this Mortgagc by reazon of any demand made by the original Borrower and Borrower's successors in interest
<br /> i11. Forbearance by Lender Not a Waiver. Any forbears►nce by Lender in exercising any right or remedy hereunder, or
<br /> 1 otherwise . afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br /> � Tht 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 maturiry of the indebtedne.ss secured by this Mortgage.
<br /> 12. Remedies CamulaNve. 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 concvrmntly, independently or successively.
<br /> ; 13. Snccessors and Assigns Bound; Joint and Several i.iablity; CapHons. The covenants and agreements heroin °
<br /> � contained sha11 bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Borrower shall be joint and severaL
<br /> The cap6ons and headings of the paragraphs of this Mortgage are for wnvenience only and are not to be used to
<br /> interprct or define the provisions hereof.
<br /> 14. Notice. 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 certiBed mail addressed to Borrower at �,;�--.,�,
<br /> � ihe Property Address or at such other addross as Borrowcr may designate by notice to Lender as provided herein, and C � .
<br /> (b) any notice to Lender shalt be given by certified mail, return receipt requested, to Lender's address stated herein or to
<br /> such other addrcss as Lender may designate by notice to Borrower as provided hercin. 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 Modgage; Governing Law; Severa6ility. This form of mortgage combines uniform covenants for national
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute 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 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 provisions of the Mortgage and the Note are declared to be severable.
<br /> � 16. BorrowePs 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. Transfer of the Property; Assumption. If aIt or any parc of the Property or an interest therein is sold or transfemd
<br /> � by Borrower without Lender's prior written consent, exduding (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 gran[ of any leasehold interest of three years or less
<br /> not containing an option to purchase, L.ender may, at Lender's option, declare alt the sums secured 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 /> ; � 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 I.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lrnder
<br /> s6aU 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 written aasumption agreement accepted in writing by Lender, Lender shall re�ease Borrower from all
<br /> � obUgations undec this Mortgage and the Nota
<br /> t If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> i , paragraph 74 heroof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br /> 7 which Borrower may pay the sums declared duc. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> � L.ender may, without futther notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereoF.
<br /> -� Nox-Utairo�ea.r CoveNer�rs. Borrower and L.ender further covenant and agrce as follows:
<br /> '� 18. Acceleratlon; Remediea. Fscept as prorided in paraR�ph 17 hercof, upon Borrowe�s breach of any covenant or
<br /> agreement of Borrower ln this Mortgage, includ➢ng the covenants to pay when due any sums securcd by thls Mortgage, �
<br /> Leoder prior ,to accekration ahall mall noNce to Borrower as provided in paragraph 14 bereof spectfying: (1) the brcach;
<br /> (2) t6e actioa nqnircd ta curc snch breach; (3) a datG not leffi than 30 days from the date the notice is mailed to Borrower, '`�
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<br /> by wLich wch brcxh most be cured; and (4) that failnrc to cure such breach on or before the dste specified tn t6e notice ., + "
<br /> may result In accden800 o[ the sums seeured by thls Mortgaqe, foreclosurc by judlcial proceeding and sate of tAe Property. - .' �
<br /> T6e �tice s6aU [orther Inform Borrower of the rtght to rcinstate affer accNeratlon and fhe right to assert in the forcctosure � � ;
<br /> `proceedtnQ the non-exietence oE a default or any ot6er defe�me ot Borrower to acceleralion and foreclosure. If the 6reach '*'
<br /> % b not cored on orbefoee t6e datc specWed in M�e notice, L.ender rt Lender's optlon may dcelare all ot t6e snms secured by , - "
<br /> t6i's Mortgaee W be immediately dae and payable wlt)wut furlher demand and may foreclose by judiclal proceeding. Leoder S ' '�
<br /> s6all be entltled to collect in auch roceedl aII pc �" �'
<br /> `i evidence, abstracts and tltle rcporls � �� of foreclosuce, tndudtug, but not limited to, costs ot documentary .
<br /> � 19. Bo�rowei's Risht to iteindate. Noiwhhstanding C.ender's accderation of the sums secured by this Mortgage, '�
<br /> '! Borrower shall have the dghC to have any procee�ngs begun by Lender to enforce this Mortgage discontinued at any time
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