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<br /> 78- U � 2 � 17 _
<br /> Lender's written agreement or applicable law. Borrower shall pay the amount of atl mortgage insurance premiums in the
<br /> manner pYovided under paragraph 2 hereof.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> j indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> 2 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 uniess payment of
<br /> interest atsuch rate would be contrary to applicable law, in which event such amounts shall bear interesi at the highest rate
<br /> � permisaible under applicable 9aw. Nothing contained in this paragraph '7 shall require Lender to incur any expense or take
<br /> aay action hereunder.
<br /> S. inspecNon. 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 /> interest in the Property.
<br /> ;�� 9. Condemnallon. 7'he proceeds of any award or daim for damages, direct or consequential, in connection with any
<br /> condemnation or other taking oE the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned
<br /> � and shatl be paid to I.enden
<br /> '? in the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgaga
<br /> ; � with the excess, if any, paid to Borrower. in the event of a partiat taking of the Property, unless Borrower and Lender
<br /> � otherwise agree in writing, there shal� be applied to the sums secared by this Mortgage such proportion of the proceeds
<br /> � as is equal to thas prnportion wbich !he amvunt of ihe sums secured by this Morlgage immediateIy prior to ihe 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 /> � If the Property is abando�xd by Borrower, or if, after notice by Lender to Borrower 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 date such notice is
<br /> ,� maited. Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> f Property 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 /> ior postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> r such installments.
<br /> � 10. Borsower Not Released. Extension of the time for payment or modification of amortization of the sums secured
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<br /> � by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to releaze, in any manner,
<br /> ;� the liability of the original Bonower 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 othenvi.se modify amortization of the sums
<br /> � secured by this Mongage by reason of any demand made by the originat Borrower and Borrower's successors in interest.
<br /> � il. Forbeara�ce by I.ender Not a Watvec Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> otherwise afforded by applicable law, shalt not be a wniver of or prectude 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 shall not be a waiver of Lender's ?.`
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> 12. Remedies CumulsHve. 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 concurrently. independenUy or successively. " "'
<br /> l3. Sacceasors and Assigns Bound; Joint and Several i.iab�7lty; Captloos. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder shatl inure to, the respective successors and assigns of Lender and Borrower.
<br /> subject to the provisions of paragraph 77 hereof. Al� 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 heroof.
<br /> 14. NoHce. Except for any notice rcquired 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 certified mail addressed to Borrower at
<br /> the Property Address or at such other address as Borrower may desigoate by notice to Lender as provided herein, and
<br /> (b) any notice ro 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 Borrower as provided herein. Any notice provided for in this
<br /> Mortgage shall be deemed to have been given to Borrower ar i_ender when given in the manner designated herein.
<br /> 15. Uniform Mortgage; Goveming Law; Severabitity. This form of mortgage wmbines anifo�m covenanu 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 /> evmt that any provision or clause of this Mortgage or the Note conflicts with applicable Iaw, 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. 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 recordatiov hereof.
<br /> 17. Transfer of the Propecty; Assumption. If all or any part oE the Property or an interest themin is sold or transfened
<br /> by Borrower without Lender's prior written wnsent, excluding (a) the creation of a lien or encumbrai�ce subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by deviae,
<br /> descent or by operation of law upon the death of a joi�t tenant or (d) the grant of any leasehotd inrorest of three years or less
<br /> no[ containing an opNon to purchase, Lender may, at Lender s option, dedare ali the sums secured by this Mortgage to be
<br /> ' immediately due and payabla 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 pecson
<br /> is satisfactory to L.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender -
<br /> shall request. If Lrnder has waived ffie option to accelerate provided in this paragraph 17, and if BorrowePs successor in
<br /> interest has executed a written assumption agreement accepted in writing by Lender, Lender shalt release Borrower from all
<br /> obligations under this Mortgage and the Note.
<br /> If I.ender exercises such option to accelerare, 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 ma�7ed 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 18 hereof.
<br /> Nox-Ur��PoeM CoveNwtvrs. Borrower and Lender further covenant and agree as follows:
<br /> . . 18. Aecderatlom, Remedlea Eucept a� provided Io paregnph i7 hercof, upon Borrower's 6resch of any cmenant or . ,
<br /> agceement ot Borror►er in t61s Mortgage, iocluding the covenants to pay when due any sums aecured by this Mortgage,
<br /> I.ender pdo� to accekratlon s6a11 maD noHce to Borrower as provtded in paragraph 14 hereof specifying: (1) the breach: �
<br /> (2) the actlon reqaired to cure auch breach; (3) a date, not less than 30 days from the date the nodce is ma0ed to Borrower. ;+�
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<br /> whic6 snch breach must 6e cored• and 4) t6at faiture fo cure such breach on or before t6e date s �� r-'�'"
<br /> by , ( peciRed ia the notice
<br /> may eesuM ln accderadon of tha snmv aecored by this Mortgaqe, foreclosurc by judicial proceeding and sa�e o[ the Properly. �;� 3
<br /> 1Le notice ahaU tart6er inform Borrower oE t6e rlght to relostate aft�r acceleration and the rlght to assert in the forcclosurc ;
<br /> proceedloe t6e nou-e�ctstence o! a dehult or any other defenee of Borrower to accNeraHon and forcclosnre. If the breach J � < . ;
<br /> ' b not cnred on or beloro the date speci8ed in tpe notice, Lender at Lender's option may declsre a� oP tbe sums securcd by �>;; ; :
<br /> t6if Moel�e to be Imniedlately due and payable wlthoot fu'Iher demand and may foreclose by fudidal proceedl�. I.ender `� ��
<br /> shali brentlNed to coOect to sueh proceedinY all e:peroev of forcclosun, incloding, but not limited to, cwffi of documeabry ;; � <:�"�a'�
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<br /> evldence, 4betracts and Ntle repo�fs. � - �w
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<br /> 14. Bot�owe�s Ri�ht to Re6st,te. Notwithstand�ng Lendet's acceleration of the sums secured by this Mortgage, " � ,�
<br /> Borrower ahatl have the right ro have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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