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<br /> ; Lender's written agreement or applicabte law. Bonower shall pay the amount of al1 mortgage insurance premiums in ehe
<br /> y manner provided under paragraph 2 hereof.
<br /> ? Any amounu disbursed by I.ender pursuant to this paragraph 7, with intenst thereon, shall become additional
<br /> r} indebtedness of Borcower secured by this Mortgage. Unless Horrower and Lender agrae to other terms of paymmt, such
<br /> amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest fwm the
<br /> ,e 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 /> ; M permiseible under appliaable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> # � any action hereunder.
<br /> # � 8. InspecNon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> � that Lender shall give Bonower notice prior to any such inspection specifying reasonable cause therefor reiated to Lender's
<br /> ` ; O interest in the Property.
<br /> 9. Condem�Hon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> 9 O condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> < T and shall be paid to Lender.
<br /> j � In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgaga
<br /> j � with the excess, if any, paid to Borrower. 7n the event of a pariia! takiag of the Property, unless 8orrower and Leader
<br /> otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> ' 7} 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 immediately prior to the date of taking, with the balance of the proceeds
<br /> paid to Borrower.
<br /> ,' If the Property is abandoned by Borrower, or if, aker notice by Lender to Horrower that the condmanor offers to make
<br /> an award or settle a daim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> � mailed, Lender is aut6oriud to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br /> , i Property or to the sums secured by this Mortgage.
<br /> + Unless Lender and Borrower otherwiu agree in writing, any such application of proceeds to principal shall not extrnd
<br /> or postpone the due date of the monthty installments referred to in paragraphs 1 and 2 hereof ar change the amount of
<br /> � such installments.
<br /> , � 10. Borrower Not Released. Extension of the time for payment or modiRcation of amortization of the sums securcd
<br /> ; by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br /> j the liability of the original Borrower and Borrower's successors in intercst. Lender shall not be required to commence �`
<br /> i proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums r:
<br /> i secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest. f
<br /> i li. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or i
<br /> , � otherwise afforded by applicable Iaw, shall not be a waiver of or preclude the exercise of any such right or remedy. !
<br /> ; i The procuroment of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's '
<br /> j right to accelerate the maturity of the indebtedness secured by this Mongage. '
<br /> a 12. Remedies CumutaKve. All remedies provided in this Mortgage are distinct and cumulative to any other right or t
<br /> � rcmedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br /> , � 13. Saccessors and As4(gos Bound; Joint and Several i.iability; CapHons. The covenants and agreemenu 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. All covenants and agreements of Borrower sfiaIt be joint and several.
<br /> �� The captions and headings of the paragraphs of this Mortgage are for convenience only and are reot to bc used ro
<br /> interpret or define thc provisions hereof.
<br /> j 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 shalt 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 shall be given by certi6ed mail, retum receipt requested. to LendePs address stated herein or to
<br /> such other addreu as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> � Mortgage shalt be deemed to havc been given to Borrower or Lender when given in the manner designated herein. ;:
<br /> ' � 15. Uniform Mortgage; Goveming I,aw; Severability. 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 /> ' i 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 appiicable law, such conflict shall not aHect
<br /> other provisions of this Mortgage or the Note which can be given effect withovt the conflicting provision, and to this
<br /> end ffie 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 recordadon hereof.
<br /> 17_ Transfer of the Property; A�umption. 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, exduding (a) the creation of a lien or encumbrahce subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br /> � - descmt or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intercst of three years or less
<br /> not containing an option to purohase, Lender may, at Lendets option, declare all the sums secured by this Mortgage to be
<br /> immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or trensfer, Lender
<br /> and the person to whom the Property is to be sold or transferred reach ngreement in writing that the credit of such person
<br /> is satisfactory to Leader and that the inierest payable on the sums secured by this Mortgage shall be at auch rate as 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 assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br /> obligations under this Mortgage aad the Note.
<br /> If Lender exercises such option to accelerate, Lender shatl mail Borrower notice of acceleration in accordance with
<br /> paragtaph 14 hereof_ Such notice shall provide a period of not less than 30 days from the date the nosice is mailed wiihin
<br /> ' which Borrower may pay the suma declared due. [f Borrower fails to pay such sums prior to the expiraGon of such period,
<br /> � Lender may, without further noticc or demand on Borrower, invoke any remedies permitted by paragraph 78 hereof.
<br /> � Nox-UNtFoawr Covertwxrs. Borrower and L.ender funher covenant and agrce as follows:
<br /> � 18. AcceleraHon; Remedles. F�ccept aa provided In paragnp6 17 hereof, upon BorrowePs breach of any covenaot or �
<br /> agreement ot Borrower in thlv Mo�lgsge, inciudtng the covennnts to pay when doe any su�m secured by this Mortga�e,
<br /> I.ender prlor lo accderatlon aLalt mait notice to Borrower av provtded in paragrapl� 14 hereof speclfying: (1) t6e brcach;
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<br /> (2)'the acHon required to eam eoch breach; (3) a date, not tesc than 30 days from tbe date the notice is maifed to Borrower, `` ., .
<br /> by whic4 soch breacb most be cured; and (4) tAat falluro to cure suc6 brcach on or beforc the date speci6ed In the notice ,. 's
<br /> may eesall in acceleraUon of t6e sums aecursd 6y thts Morfgaqe, forectosure by judicial proceeding and sale of the Property. 1 ' � �'r
<br /> T6e notIce shaa fortYer in[orm Boreower oE t6e right to nlnstate aftu accelention and the rlght to as.sert in the foreclosurc .� s `:
<br /> proceedio� t6e non-�cbtenee of a dehdt or any olher defenx of Borrower to acceienHon and foreclaeure. If the breach �:: �
<br /> , Is not'cored on or tidorc the date spectHed in ffie notice, Leoder at Lender's option may dectere aIl of the sums secared by :, '� r ,!'�
<br /> thls Morfsage to 6e lmmediafely due and paysbh wkhout furlher demand and may forcclose by judlcisl proceedlog. Lender .a �:, ,�
<br /> �� shaL be mtltled to collect la aoc6 proceeding an expe�tles of foreclosuro, inclading, hut not Iim[ted to, costs of documeotsy ;,� .: .
<br /> ' evideooe, ab�trscfe and Htle reporte�
<br /> 1 19. Borrower's Rig6t to Reiuetatn ' Notwithstanding I.ender's ucceleration of the sums secured by this Mortgage.
<br /> � Borrower e6a11 bave tharfght to have any proceediogs begun by Lrnder to enforce tliis Mortgagc diswntinued at any time
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