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<br /> 78-� �� C� � 5b0
<br /> Lender•s written agrcement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner provided under paragreph 2 hereof.
<br /> � Any amounts disbursed by Lender pursuant to this paragraph 7, with interost thereon, shall become additionel
<br /> § indebt�dnes.a of Borrower secured by this Mortgage. Unless Borrower and Lender a�eree ta other tertns of payment, such
<br /> � amounts ahall be payable upon noticc from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> � date of disburaement at the rate payabte from time to time on outatanding principai under the Note untess payment of �
<br /> � interest at such rate would be wntrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> permissibie under applicable iaw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> any action hereunder.
<br /> : �� 8. Iospecdon. Lrnder may make or cause to be mede reasonable entries upon and inspections of the Property, provided
<br /> that Lender shall give Borrower notice prior to any such inspection specifying rcasona6le cause therefor related to Lender's
<br /> interest in the Property.
<br /> � 9. Condem�Hon. The proceeds of any award or claim for damages, direct oc cansequential, in connection with any
<br /> j condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> y and shall be paid to Lenden
<br /> � In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> r 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 shali be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is equal to that proportion which 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 immediateiy prior to the date of faking, with the balance of the proceeds
<br /> paid to Borrower.
<br /> ', � If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offen to maice
<br /> a an award or settle a claim for damagu, Borrower fails to respond to Lender within 30 days after the dare such notice is
<br /> � mailed. Lender is authoriud to collect and apply the proceeds, at Lender's opdon, either to restoration or repair of tix
<br /> Property or to the sums secured by this Mortgage. '
<br /> ; Unlus Lendec and Borrower otherwise agree in writing, nny such application of proceeds to principal shall not extend � '
<br /> or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> ;,� such installments.
<br /> 10_ Borrower Not Released. 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 interest of Borrower shall not operate to release, i^ any manner.
<br /> ! the liability of the original Borcower and Borrower's succusors 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 reazon of any demand made by the original Borrower and Borrowei's successors in intcrest. t .
<br /> � Il. Forbearance by Lender Not a Watver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> otherwisc afforded by applicable law, shall not be a waiver of or preclude the ezenise of any such right or remedy.
<br /> The procurement of insurance or the payment of taxes or other liens or charges by Lender shatl not be a waiver of LendePs
<br /> right to-accelerate the maturity of the indebredness securcd by this Mortgage.
<br /> 12. Remedies Camulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> remedy under this Mortgage or aftorded by law or equiry, and may be exercised concurmntly, independendy or successively.
<br /> � 13. Successoes snd Assi6ns Bound; Joint aad Several I,ia6ility; Captlons. The covenants and agreements herein
<br /> contained shall bind, and the rights herounder shall inure to, the respective successors and assigns of Leader and Borrower,
<br /> subject to the provisions of paragraph 17 hereoF. All covenanu and agreements of Borrower shall be joint and several.
<br /> The captions and headings oE 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. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br /> Borcowc provided for in this Mortgage shall be given by mailing such notice by certifled 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 shall be given by certified mail, rewrn receipt requested, to Lender's address stated hercin or to
<br /> such other address as Lender may designate by notice to Borrower as provided herein. Any nodce pmvided for in this
<br /> Mortgage shalt be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 15. Uniform Moitgage; Goveming Law; Severobility. This form of mortgage combines uniforrn covenants for national
<br /> use and non-uniform covenants with limited variations by jurisdiction to coastitute a uniform security instrument covering
<br /> rcal property. 'il�is Mortgage shali be governed by the Iaw of the jurisdiction in which the Property is located. 7n the
<br /> event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflic[ shalt not atfect
<br /> other provisions of this Mortgage or the Note which can be given eRect without the conflicting provision, and to this
<br /> end ffie provisions of the Mongage and the Note are dectared to be severable.
<br /> 16. Borrower's Copy. Borrower shatl be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of ezecution or after rccordation hereof.
<br /> 19. Transfer of the Property; Assumption. 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 pumhase money security interest for houschold 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 Iess
<br /> . not containing an option to purohase, Lender may, at Lender's option, declare alI the sums sewred by this Mortgege to be
<br /> immediately due and payabla Lender shall hnve waived such option to acceterute if, prior to the sale or tranafer, Lender
<br /> and t6e person to wtiom the Property is to be sold or transferred reach agreement in writing that the credit of such pecson
<br /> is satisfaetory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shatl reqnest. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in
<br /> interest has executed a written assumption agreement acaepted in writing by Lender, Lender shall release Hortower from all
<br /> obligations under this Mortgage and the Nota
<br /> If Lender exercises such option to accelerate, Lender shall mail Sonower natice of acceleration in accordance with
<br /> paragraph 14 hereof. Such notice shalt provide a period of not less than 30 days from the date the notice is mailed within
<br /> which Borrower may pay the sams declared due. If Borrower faits to pay such sums prior to the expiration of such period,
<br /> Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> ` ' Nox-Urnrortat Covexwx�rs. Borrower and Lender Further covenant and agree as follaws :
<br /> 18. Accderatbo; Remediea. Except ae provided in para�nph 17 hereof, upon Borrower's breac6 of sny covenaot or
<br /> aQreemeut of Borrower in thiy Mortgagq includlug the covenants to pay wtien due any sums aecored by t6is Mortgage, �
<br /> Lender prior to accekraHov s6a11 mail notice to Borrower ac provided in paragrnph 74 hercof apecifying: (1) the breach;
<br /> (2) t6e aetlon required to cuce mch breach; (3) a date, not lees thaa 30 days from the date the noBce Ls mailed to Borrower, ,,. �__: '�t,
<br /> by which .mc6 breacL mnst be wrcd; and (4) that faflurc lo cure suc6 breach on or before the date apeciRed in the notice ;�
<br /> may rnolt in aceeleratlon of the sums eecured 6y this Morlgaqq fomlosuro by judicisl proceeding and sale o[ t6e Property. fi � ,
<br /> ; Tbe notlee shall Eo�tder intorm Bo(rower of the r1gAt to ret�tate after acceleradon and tlae dght to atsert in tbe forccloson � "; ` .
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<br /> proceedlns t6e non-exbtence of a deladt or any other defe�e of Borrower to acceleratton aad fomlosure. If the breach �'
<br /> b not'cn�ed oa or betorc the date spec�Red iq Y�e notice, Lender at Lender's optioo may declare a11 ot the sums secured by C:'7 'o-
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<br /> Wis�Mo�age W be immedlafely dae and payeble v►Ithout fuHher demsnd wnd mAy foreclose by Jndlcisl proceeding. i,ender � ' .
<br /> s6'116e mtltled to collect in aueL proceeding a11 expenses of forecbsure, inelwlfng, but not limited to, costs of docamentary � ' �
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<br /> I9. Eomnwer's :Ri�6t W Reindste. Notwithstanding Lender•s acceleration of the sums secund by this Mortgage,
<br /> Borrower shqll have the right to have any procxdings begun by Lender to enforce this Mortgage discontinued at any time
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