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<br /> Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> : maoner ptovided under paragraph 2 hereof.
<br /> ? Any amounts disbuned by Ltnder pursuant to this paragreph 7, with interest thereon, shall become additional
<br /> . i indebredness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> � � amounts shail be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear inrerest from the
<br /> date of disbursement at the rate payable from time ro time on outstanding principal under the Note unless payment of
<br /> j � interest at auch rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> 3 ,� permissible under applicable law. Nothing contained in this paragraph '7 shall require Lender to incur any ezpenu or take
<br /> i � any action hereuader.
<br /> ` � 8. InspecHon. L.ender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> � O that Lender shall give Borrower notice prior to any such inspection specifying reasonabie cause therefor related to i.ender's
<br /> ; ' interest in the Property.
<br /> p0 9. Co�demnaHon. 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 conveyance in Iieu of condemnation, are hereby essigned
<br /> j and shall be paid to Lenden
<br /> ' i In the event of a total taking of the Property, the proceeds shnll 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 Propeny, unless Borrower and Lender
<br /> ' y otherwise agree in writing, t6ere shatf be applied to the sums secured 6y this Mortgage such proportion ot 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 PropeRy immediatety prior to the date of taking, with the balance of the proceeds
<br /> � paid to Borrowec
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor ofters to make
<br /> `1 an award or settle a claim for damages, Borrower faiis m respond to Lender within 30 days after the date such notice is
<br /> mailed. Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> Property or to the sums seeured by this Mortgage.
<br /> - i Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not 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 /> i such instatlments.
<br /> 10. Borrower Not Relessed. Extension of the time for payment or modification of amortization of the sums secured
<br /> by this Mortgage granted by Lender to any successor in interest of Borrower shatl not operate to mlease, in any manner.
<br /> the Iiability of the original Borrower and Borrower's successors in interest. Lender shail not be requirod to commence
<br /> ! proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> f secured by this Mortgage by reason of any demand made by the original Borrower and Borcower's successors in interest.
<br /> � 11. Forbearsnce by Lender Not a Waiver. A�y forbearance by Lender in exercising any right or remedy hereunder, or
<br /> i otherwise atforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br /> E 'The procuroment of insurance or the payment of taxes or other liens or charges by Lender shalt not bc a waiver of I.ender's
<br /> f right to accelerate the maturity of the indebtedness secured by this Mortgaga
<br /> � l2. Remedles Cmnnlaflve. All remedies provided in this Mortgage are distinct and cumulative to any other right or � ''
<br /> ' j remedy under this Mortgage or afforded by law or equity, and may be exercised concurrenUy, independe�tly or successivdy.
<br /> � I3. Successors and Assiges Bound; Joint and Several i.ia67iry; CspNons. The covenants and agreements herein
<br /> ; j contained shatl 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. Atl covenants and agreements of Borrower shall be joint and uveral.
<br /> � The captions and headings of the paragraphs of this Mortgage are for convenienee only and aro not to be used to
<br /> interpret or define the provisions hereof. ;
<br /> ' 14. NoBce. Except for any notim nquired under applicable law to be given in another manner, (a) any notice to
<br /> F Barrowcr provided for in this Mortgage shall be given by maiting such notice by certiBed 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, retum receipt requested. to Lender's address stated herein or io
<br /> - # such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> , � Mortgage shalt be dcemed to have been given to Borrower or i_ender when given in the manner designated herein- ;
<br /> r 15. Uniform Mortqage; Governing Law; Severabtlity. This form of mortgage combines uniform covenants for national
<br /> j use and non-uniform cavenants with limited variations by jurisdiction to constitute a uniform security inswment covering
<br /> # real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. I� the
<br /> ' # event that any provision or clause of thu Mortgage or the Note conflicts with applicable law, such conflict shall not aftect
<br /> : j other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> � end the provisions af the Morigage and the Note are declared to be severable.
<br /> ; 16. Borrow�er's Copy. Borrower 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 tLe Property; Assumption. If all or any part of the Property or an interest thercin is sold or [ransferred
<br /> , � by Borrower without L.ender•s prior written consent, excluding (a) the creation of a lien or encumbrance 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 Iaw upon the death of a joint tenant or (d) the grant of any leasehold interest of three yeurs or less
<br /> � not wntaining an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br /> � immediately due and payabla Lender shall have waived such option to accelerate if, prior to the sale or traosfer. Lender
<br /> } and the person to whom the Property is to be sold or transferred 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 waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> intercst has executed a written assumption agreement accepted in writing by Lender. Lender shall retease Borrower from all
<br /> ? � obligations under this Mortgage and the Note.
<br /> jIf Lender exercises such option to accelerate. Lender shall mail Borrower nqtice of acceleration in accordance with
<br /> p 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 ro pay such sums prior to the expiration of such period.
<br /> � Lrnder may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph IS hereof.
<br /> ';'. � „ Nox-Ut+rnoaM CovetawNrs. Sonower and Lender further covenant and agrce as follows:
<br /> �. 18. Acederation; Remedles. Fzcept as provided in parsgraph I7 6ercof, upon Borcower's bceach of any covenant or
<br /> . ', y agreemeM o[ Borrower in this Mortgage, Incloding Ihe covenants to pay wheo due any sums secorcd by this Morlgage, �
<br /> ;. � I.mder pcior to acceleration shall mail notice to Borrower as provided in paragroph 14 hereoE specifying: (1) the breach;
<br /> (� t6e actioo required to eure such b�each; (3) r datq not !e� Wsn 30 days from the date the notice is matled to Borrower, �'"
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<br /> by.wWch such breach mmt be care� and (4) t6at hilure to cun such breach on or before t6e date specified in the notice Y : �` '
<br /> may rcenit In accelenHon of the sua�s secured by this Morlgage, foreclosure by Judicial proceedi� and sale of the Properfy. „; ; . .�
<br /> 1Le notlee ahalt furt6er Inform Borrower:o[ the rlght to reia9tate nfter accekration and Ihe dght to assert in the foreclosure ° j
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<br /> proceedi�. the non=extstenee of a detadY or sny otLer defense of Borrowu to acceleraHon and forecl�are. If the 6reac6 I �• = '°�
<br /> ': is not'cared on 'or 6efore the dste epeciRed In the not(ce, Lender at Lender's option msy declere aIl of the sums securcd by �
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<br /> r " � t6is Mort�age to 6e Immediatdy doe aad'payable without farlher demand aod msy forcclose by judlclal proceedl�. Lender ; "-�
<br /> ' 1 t6�ll be eutkled 1o 'collect IQ such proceedfag all e:penses o[ foreclosare, induding, but not llmited to, cosb of documentary ;�K:, ;a
<br /> . , evideuce, a6atracte and tltte nporb. h u
<br /> ; 19. > Borrowa's Rie6t _ to Reimtate. Notwithstanding Leoder's acceleration of the sums secured by this Mortgage,
<br /> - � Horrower shall have the dght to have' any proceedings begun by Lenderto enforce this Mortgage discontinued at any time
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