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<br /> 78., UU2559 �
<br /> Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in thc
<br /> manner pfovided under paragraph 2 hereof.
<br /> Any amounts dis6ursed by L.ender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> � indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> � amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shatl bear interest fmm 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 auch rate would be contrary to applicable law. in which event such amounts shall bear interest at the highest rate
<br /> f permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> ( any action hereuader.
<br /> � 8• Inrpec6on. Lender may make or cause to be made reasonable entries upon und inspections of the Property, provided
<br /> ] that I.ender shall give Borrower notice prior to any such inspection specifying reasanabie cause therefor related to Lender's
<br /> interest in the Property.
<br /> _' ( 9. Coodemnatbn. The 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 co�veyance in lieu of condemnation, are hereby assigned
<br /> . � and shalf be paid to Lender.
<br /> � In the event of a rotal taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> j w3th the excess, if any, paid to Borrowec In the event of a partial taking of the Property, unless Horcower and Lender
<br /> { otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> ; as is equal to that propaRion which the amoant of the sums secured by this Mortgage immediately prior tv the date of
<br /> ; taking bears to the fair market value of the Property immediately prior ro the date of taking, with the balance of the proceeds '
<br /> p paid to Borcower.
<br /> , � If the Property is abandoned by Bonower, or if, after notice by Lender to Borrower that the condemnor offen to make
<br /> � an award or setUe a daim for damages, Borrower fails to respond to Lender within 30 days after the date such �otice is
<br /> mailed, Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of tlx
<br /> � 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 noc extend
<br /> � or postpone the due date of the monthly instaliments referred to in paragraphs 1 and 2 hereof or change the - amount of `
<br /> ; such instaliments. �
<br /> 10. Borrower Not Rdeased. Extension of the time for payment or modification of amortization of the sums secured
<br /> j by this Mortgage granted by Lender to any successor in intcrrsi of Borrower sna11 not operate to mlease, in any rnanner. �
<br /> � [he 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 Mortgage by nason of any demand made by the originai Borrower and BorrowePs successors in interest.
<br /> � 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or '
<br /> otherwise afforded by applicable law, shali not be a waiver of or preclude the exercise of any such right or remedy. '
<br /> '' F The procurement of insurance or the payment of taxes or other liens or charges by Lender shall nat be a waiver of Lender's ; ';
<br /> i right to accelerate the maturity of the indebtedness secured by this Mortgage. � `
<br /> . � 12. Remedin CnmulaHve. All remedies provided in this Mortgage are distinct and cumulative to eny other right or
<br /> rcmedy under this Mortgage or afforded by Iaw or equity, and may be exercised concurnntly. independently or successively.
<br /> , � 13. 3accessors aod Assigns Bound; Joint and Several T.ia60ity; CapBons. The covenants and agreements heroin ;
<br /> contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br /> q subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. ?
<br /> 'ihe captions and headings of the pazagraphs of this Mortgage are for convenience only und are not to be used to
<br /> interpret 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 certified mail addressed to Borrower at =
<br /> the Property Address or at such other address as Borrower may designate by notice ro Lender as provided herein, and i "`"
<br /> (b) any notice to Lender ahall be given by certified mail, rewm receipt requested. to Lender's address stated herein or to i
<br /> ' � sucN other address as Lender may designate by notice to Horrower as provided herein. Any notice provided for in this ' -
<br /> Mortgage shall be deemed to have been given to Borrower or Lender when givcn in the manner designated herein.
<br /> 15. Uniform Mortgage; Goveming Law: Severnbtlity. This form of mortgage combinea uniform covenanu for national '
<br /> , � use and non-uniform covenants with limired variations by jurisdiction to constitute a uniform security instrument rnvering ;�
<br /> real property. This Mortgage shall be governed by the law of the jurisdiction in which the Propeny is located. In the
<br /> event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conHict shall not aRect
<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 an deciared to be severable.
<br /> 16. Bomower's Copy. Horrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordadon hercof.
<br /> 17. Transfer of the Property; Assump8on. If aIl or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior writtm consent, exc�uding (a) the creation of a lien or encumbrance subordiaate to
<br /> this Mortgage, (b) the creation of a purchase money securily 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 all the sums securod by this Mortgage to be
<br /> " j • immediatdy due and payable. Lender shall have waived such option to accelerate if, prior to the sale or traasfer, Lender
<br /> , q and the person to whom the Property is to be sold or transferred reach agreemmt in writing that the credit of such person
<br /> � is satisfactory to Lender and that the interest payable on t2�e sums secured by this Mortgage shall be at such rate az Lender
<br /> shall 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 release Borrower from all
<br /> obligations under this Mortgage and the Nou.
<br /> If Lender exercises such option to acceluate, Lender shall mail Borcower 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 /> Lendcr may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hercof.
<br /> , �, Nox-Uta�rorti.r CovEHwtwrs. Borrower and L,ender further covenant and agree as follows:
<br /> � � . : . 1& Acedenttou; Remediea. Fsttpt as provided in paraaraph 17 hereof, upon Borrower's breach of any covemnt or -
<br /> aQreemmt of Borrov►u in tdls Mortgage, includlug the covenants to pay w6en dne any snms secured by t6ie Mortgage,
<br /> Leoder prior to accekration s6a11 mail no8ce to Borrower as provided in psragraph 14 hereof specifying: (1) the breacb; �
<br /> (2) tbe acffon reqnired to cnre sue6 breach; (3) a date, not leav than 30 days from the date the noftce ls malled to Borrower,
<br /> ra
<br /> by wdich soch" breach most be cnned; and (4) that faUun to cure such brwch on or before tlre date spedfled in the aotice -� 4:- �
<br /> � may resalt lp accderatlon of t6e ao� secured by this MorlgaRe, foreclorurc by judldal proceedi� and sale of the Proper/y. �
<br /> The nodce a6a11 further info[m Borrower of the rtqht to reinslate after accdcration and the dght to asaert In the foreclosure � �`. � -f
<br /> ; praceedlo�;t6e �wn�exbtence ot a deEault or any otber detense of Borrower to accderaHon and toreclosare. If the brcach ; ': < � ,'
<br /> F b'uot cardi on or before the date epecl8ed in,jfie �roNce, Lender at LendePs optio� may declare el! of t6e sums secured by * ' "
<br /> '" fhh Morfpge lo be immedlately doe aad p�yabie without furltier demand sod may foreclose by judlcisl pcoceedlug. Lrnder � ' ^>
<br /> ? � eLall be eotitled fo collect (n such"proceeding an experoes ot forcclosure, inclu�Hng, but not limited to, cosb of docnmeahry x ''. '' ^ ",rd
<br /> �' av[dence, 'bst�acb and tltle reporCs. * . "';� p
<br /> "�' ' 19. sorcowe�s' RiL6t to R�ta Notwithstanding Leoder's acceleretion of the surces secured by this Mortgage, ' �. '
<br /> Borrower sLall Have the rlght to h3ve a� proceedings begun by Lcndar to enforce this Mortgage discontinued at any time
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