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I . �
<br /> 78-. U02558
<br /> Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner provided under paragraph 2 hereoE
<br /> � Any amounts disbursed by Leader pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> � indebtedness of Borrower securcd by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> amounts shaU be payable upon notice from Lender to Borrower requesting payment thereof, and shail bear intercst 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 /> permiasible under applicable ]aw. Nothing contained in this paragraph 7 shail require Lender to incur any expenu or take
<br /> : ! any actioa heroundec
<br /> j 8. InspecHon. 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 ro any such inspection specifying rcasonable cause therefor related to Lender's
<br /> f interestin the Pmperty.
<br /> ; 9. CondemnsKon. 7'he proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> : � condemnation or other taking of the Property, or part thereoF, or for conveyance in lieu of condemnation, are hereb assi ned
<br /> ? and shall be paid to Lender.
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<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 to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br /> } otherwise agree in writing, there sha11 be applied to the sums secerred by this Mortgage such proportion of the proceeds
<br /> i as is equal to that propoction which the amount of the sums �ecured by this Mortgage immediately prior to the date of
<br /> I 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 abandoned by Borcower, or if, after notice by Lender to Borrower that the wndemnor offers to make
<br /> . i an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date sueh notice is
<br /> i mailed, Lender is authorized to collect and apply the proceeds, at I.ender's option, either to restoration or repair of the
<br /> - i Property or to the sums secured by this Mongaga
<br /> � Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shull not extend
<br /> '' or postpone the due date of the monthly instaltments referred to in paragraphs t and 2 hereof or ehange the amount of
<br /> such installments
<br /> � 10. Borrower Not Released. Extension of the time for payment or modiflcation of amortization of the sums secured
<br /> � by this Mortgage granted by Lender to any successor in interest of Boaower shall not operate to release, in any manner,
<br /> � the liability of the original Borcower and Borrower's successors in interest. Lender shall not bc rcquired to commencc
<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 demand made by the original Borrower and Borrower's successors in interest.
<br /> : ; Il. Forbearanc� by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> � otherwise afforded by applicable Iaw, shall not be a waiver of or predude the exercise of any saich right or remedy.
<br /> The procwcment of insurance or the payment of taxes or olher liens or charges by Lender shall not be a waiver of LendePs
<br /> right to accelerate the maturity of the indebtedness secumd by this Mortgage. ;
<br /> ; j 12. Remediea CnmulaHve. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
<br /> � remedy under this Mortgage or afforded by Iaw or equity, and may be exercised concurren2ly, independently or successively.
<br /> 13. Successors and Assigns Bound; Joint and Several i,iability; CapBans. The covenants and agreemen[s herein
<br /> contained shall bind, and the righu 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 agreements of Borrower shall be joint and severaL
<br /> 'il�e captions and headings of the paragraphs of this Mortgage are for convenience only and are noi to tx used to
<br /> ; � interpret or deflne the provisions hercof. ; �3
<br /> 14. Notice. Except for any notice required under applicabte law to be given in another manner, (a) any notice to � :.���a,.
<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 designate by notice to Lender as provided herein, and
<br /> (b) any notice to Lender shalt be given by certified maii, retum reccipt requested, to Lender's address stated herein or to
<br /> 1 such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> � Mortgage shall be deerned to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 15. Uniform Mortgage; Goveming Law; geverebillty. This form of mortgage combines uniform covenanu for national
<br /> 3 use and non-uniform eovmants 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 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 provisions of the Mortgage and the Notc are declared to be severabla
<br /> # 16. Bormwer's Copy. Bonower 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 t6e Property; Assumption. If atl or any part of the Property or an interest therein is sold or mansferred
<br /> by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrahce subordinate to
<br /> � this Mortgage. (b) the creation of a purchase money seeurity interost for household appliances, (c) a transfer by devise,
<br /> a descrnt or by opera[ion of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br /> a ' not containing an option to purchase, Lender may, at Lender's option, declare aIl the sums secured by this Mortgagc to be
<br /> ;{ immedia[ely due and payabla Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> �' and the person to whorn the Property is to be sold or transferred reach agrcemen[ in writing that the cmdit of such person
<br /> � is satisfacto to Lender and that the interest
<br /> =Y payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> � shall reqaest. 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 assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br /> obligations vnder this Mortgage and the Note.
<br /> � If Lender exercues sach 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 ma�ed within
<br /> � whiah Bornower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br /> e Lender may, without further notice ot demand on Borrower, invoke any remedies permitted 6y paragraph 18 hereof.
<br /> � Nox-LTxtroxt.i Covexwtvrs. Sorrower and Lender further covenant and agrec as follows:
<br /> I& Accderation; Remedies. Except as provided tn paregnph 17 hereof, apon Borrower's 6reach of any covenaot or q
<br /> aereement oE Borrower In tLis Mortgage, inc�udtug the covenants to pay w6en due any sums secured 6y this Morfgage,
<br /> Leodv prior to accekratioa s6alt mril notice fo Borcower as provided in paragrsph 14 hereof speclfyiog: (1) the breach; it
<br /> (2) t6e acNon requitcd bo cure snch breach; (3) a date, not lea9 than 30 days from t6e dah t6e noUce b mailed to Borm�ver, � `'� -
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<br /> by which eoch brach maet be carcd; and (4) that failure to cun sucd breach on or before t6e date apecilied in t6e notice 1
<br /> roay +esalt In acceleratlon of the suo►s secured 6y thls Mortgage, foreclosurc by jadicial proceedl� and sale of the Property. u�
<br /> T6e notice �all farther I�orm Borrower of Ihe righY to rei�tate after acceleratbn and t6e dght to assert In the foreclosarc � , ( '� �' `
<br /> praccediuQ tlle non-e�stence o[ a defaWt or awy other deieox of Borrower to accderatioo and foreclosun. If t6e breach =• 'i .
<br /> L riot cu�ed'on or 6eforie the date speciR� fo the noHce, Lender at Le�er's option may de�lare all of ttie sums securcd by 1 `: ,
<br /> t61s Mort�ree to be,immedlatdy. due and payaWe without furlher demand and may foreclaee by jadicial � `
<br /> s6a116e enUtled to collect in suc6 peoceedl� all ex Proceedj�- Lender �._ " �; :i
<br /> penses oE forcctaeure, includiug, 6vt not limited to, costs of docameatary :- , �
<br /> evldenct, a6.tracb and dlle rcpo[/s.
<br /> 19. Borrowe�'s Rig6t W Relsshta Notwithstanding Lender's acceleration of the sums sccured by this Mortgage.
<br /> Bonuwer shall have the right to have any proceedings begun by L.ender ro enforce this Mortgage discovtinued at any time
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