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<br /> � Lender's written agreemeat or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manncr pfovided under paragraph 2 heroof.
<br /> My amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional ;
<br /> indebtedness of Bonower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> " amounts shall be a able u �
<br /> p y pon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> date of disbursement at the rate payable from Nme to time on outstanding principal under the Note unless payment of �
<br /> � interest at snch rate would be contrary to applicable law, in which event such amounts shall bear interut at the highest rate ; �
<br /> permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take , .
<br /> ' � any action herounder. �
<br /> ` i 8. 7nspecNoo. 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 Cender's
<br /> . . � interest in the Property.
<br /> 9. Condemnatlon. 7'he proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> ' wndemnation or offier taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> '' ; and shall be paid to Lendec ` '
<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 Properry, unless Borrower and I.ender
<br /> 1 otherwise agree in writing, thero shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> ' 1 as is equaf to tha[ proportion whic6 the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> a [aking bears to the fair market value of [he Property immedia[ely prior to the date of taking, with the balance of the proceeds .
<br /> f paid to Borrowec
<br /> ; If the Property is abandoned by Borrowec, or if, afrer notice by Lender to Borrower that the condemnor ofEero to make
<br /> ? an award or setHe a daim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> . f mailed, I.ender is suthoriud 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 Mortgage.
<br /> Unless Lender and Borrower othenvise agree in writing, any such application of proceeds to principal shall not extend
<br /> � or postpone the due date of the mortthly ins[allments referred to in paragraphs 1 and 2 hereof or change the amount of
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<br /> + such installments
<br /> � 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums securcd
<br /> ! by this Mortgage granted by Lender to any successor in interest of Borrower shalt not operete to release, in any manner.
<br /> 3 the liabiliry of the original Borrower and Borsower'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 reason of any demand made by the original Borrower and Borrowers successors in interest.
<br /> j 1] . Forbearaoce by I.ender Not a Waiver. Any forbearance by Lender in exercising any righ[ 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 /> ' � 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 /> i right to accelerate the maturity of the indebtedness securcd by this Mortgage.
<br /> � 12. Remedies CamuiaHve. 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 concurrenUy, independently or successively.
<br /> � 13. Successors and Asslgns Bound; Joint and Several i.iability; Captions. The covenants and agreements herein
<br /> � contained shall 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. AII covenants and agreements of Sorrower 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 hereof.
<br /> 14. Natice. 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 shalt 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, return receipt requested. to Lender's address stated herein or to
<br /> e such other addrcss as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> ` i Mortgage shall be deemed to have been given to Borrower or I.ender when given in the manner designated herein.
<br /> t 15. Uniform Mortgage; Goveming Law; Severabilfty. 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 Iaw of the jurisdiction in which the Property is located. 7n the
<br /> event that arty provision o� clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not aHeM
<br /> other provisions of this Martgage or thc Note which can be given effect without the conflicting provision, and to this
<br /> end the provisions of the Mortgage and the Note aro declared to be severable.
<br /> � 16. Borrower's Copy. Horrower 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. TransEer of the Property; Aseumption. if all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior writren consen4 excluding (a) the creation of a lien or encambrance subordinate to
<br /> � � ffiis 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 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 secured by this Mortgage to be
<br /> immediately due and payable. Lender shall have waived such option to accelecate if, prior to the sale or transfer. Lender
<br /> ' and the person to whom the Property is to be sold or transfermd reach agreement in writing that the credit of such person
<br /> � is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall request. if Lender has waiveci the option to accelerate provided in this paragraph 17, and if Borsower's successor in
<br /> � interat has executed a written assumption agreement accepted in writing by Lender. L.ender shall release Borrower from all
<br /> ` S obligations under this Mortgage and the Nota
<br /> ; 7f Lender exercises such 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 mailed within
<br /> � which Honower may pay the sums declared due. If Borrower fails ro pay such sums prior to the expiration of svch period,
<br /> Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> Now-Ut.naoni.t CoverrwNTs. Borrower and Lender further covennnt and agree as follows:
<br /> < .i 18. Acceleration; Remediea F�eept av provided in paragroph 17 hereof, upon BorrowePs breach of any rnvenaat or
<br /> Y agreemeat oE Borrower in tl�ts Mortgage, inctudtug t6e covenants lo pay when dae any sums secured by this Morlgage, �
<br /> t Lender prior to accekratlon shalt mai! noNce to Borrower as provlded !n paragrsph 14 hereof specifying: (1) the 6reach; '
<br /> , � (2) tAe action rcquired to cure such breach; (3) a date, not lese than 30 days from the dste t6e notice is mailed to Borrower, "'q�
<br /> � by w6ic6 wch breach mast be cared; and (4) that failure to cure such breach on or 6efore t6e dale speciBed in the notice - e
<br /> � may result io accehration ot the snms secured by this Mortgage, toreclosure 6y judiclsl proceeding and ssle of the Property. '.
<br /> F . The notice s6all furtber iaform Borrower of the r(ght lo reiastate a[ter acceleratton and tLe right to assert in the foreclosure ; ,
<br /> � proceeding t6e non-extstence of a default or any other defense oE Borrower to acceleration and forcclosore. If the breach J �, : ..;
<br /> � l 1s,�t cured on or before tHe date specified In�the notice, Lender at Lender's option may declare alt of t6e sums securcd by t : "
<br /> � ,� t6M MortErae fo be immediately doe and payabh without furlher demand and may forecWx by judfcisl proceediug. Leader t ' ,?: �
<br /> s6rd be mtkled to collect in sne6 proceedl� all expensea of foreclosurc, Includi�, but not timited to, costs o[ docamentary , „��` �
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<br /> i . . � . � � evideac0.�a6eEracts and �tlNe rcpo�ts. � � � . .
<br /> ' � 19. Sorro�ver's Ris6t to Rei�retafa Notwithstanding Lender's acceleratian of the sums secured by this Mortgage, "` "
<br /> ; � Bocrowerahali have the ;igi�t to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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