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<br /> I.ender's written agrcement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> � � maaner pYovided under paragraph 2 hereof.
<br /> f O Any amounts disbursed by Lender pursuant to this paregraph 7, with interest thereon, shall become additional
<br /> indebtedness of Borrower secured by this Mortgaga Unless Borrower and Lender agree to other tertns of payment, such
<br /> �' amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shatl bear interest from the
<br /> C� dete of d'ubursement at the rate payable from time to time on outstanding principal under the Note unless payment of ` �
<br /> Q interest at anch rata would be contrary to applicable law, in which event such amounts shall bear interest nt the highest rate �.
<br /> � permissible under applicable ]aw. Nothing contained in this paragraph 7 shall requin Lender to incur any expense or take :
<br /> ' � � any action hercunder.
<br /> 8. InspecNon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> � that L.ender shall give Borrower notice prior to any such inspection specifying rcasonable cause therefor related to Lender's
<br /> � interest in the Property.
<br /> � 9. Coademnallon_ The proceeds of any award or daim for damages, direct or consequential, in connection with any
<br /> '. � condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> # and ahall be paid to Leader.
<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 PropeRy, unless Borrower and Lender
<br /> ° a otherwise agree in writing, thene shait be appiied ro the sams secured by this Mortgage such proportiort of the proceeds
<br /> .; � as is equal to that proportion which the amoant of the sums secured by this MoRgage immediately prior to the date of
<br /> taking bears to the fair market vatue of the Property immediately prior to the date of taking, with the balance of the proceeds
<br /> P j Paid to Borrower. `
<br /> j If the Property is abandoned by Bonower, or if, after notice by Lender to Borrower that the wndemnor offers to make 4
<br /> � an award or settle a claim for damages, Borrower fails to respond ro Lender within 30 days aEter the date such notice ie
<br /> � mailed. Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or ropair of the
<br /> t Property or to the sums secured by this Mongaga
<br /> I Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> ; j or postpone the due date of the monthly instaliments referred to in paragraphs 1 and 2 hereof or change the 'amount of
<br /> - "r such instaltments.
<br /> ; i 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 shall not operate to release, in any manner,
<br /> � the liability of the original Boaower and Borrower's successors in interest. Lender shall not be required to commenee '
<br /> i 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 Borrower's successors in interest. ;
<br /> 11. Forbearance by Lender Not a Waiver_ Any forbearance by Lender in exercising any right or remedy hereunder, or x
<br /> � otherwisc afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. ?
<br /> The procurement of insorance or the payment of taxes or other liens or charges by I.ender shall not be a waiver of Lender's ;
<br /> right to accelerate the maturity of the indebtedness xecured by this Mortgage. t
<br /> ' � 12. Remedies CamulaNve. Atl nmedies provided in this Mortgage are distinM and cumulative to any other right or + � �' �'
<br /> rcmedy under this Mortgage or afforded by taw or equity, and may be exercised cancvrrently, independently or successively. ,
<br /> 13. Suecessors and Assig� Bound; Joint and Several i.iab0ity; CapHons. '7'he covenants and agreements herein "
<br /> contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, t
<br /> subjeM to tMe provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. `
<br /> The captions and headings of the paragraphs of this Mortgage are for convenience onty and am not to be used to �
<br /> interprct or de5ne the provisions hereof.
<br /> 14. No4ice. Except for any notice required under applicable law to be given in another manneq (a) any notice io `%r
<br /> Sorrower 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 to I.ender us provided hercin, and ;
<br /> (b) any notice to Lender shall be given by certificd mail, return receipt requested, to Lender's address stated herein or to
<br /> such other addrcss as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> � 15. Uniform Moregage; Governing Law; Severabillty. This form of mortgage combines uniform covenants for national
<br /> use and non-uniform wvenants 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. In the
<br /> event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conftict shall not aRect
<br /> other provisions of this Mortgage or the Notc which can be given effect withoat the conflicting provision, and to this
<br /> � ' end the provisions of the Mortgage and the Note are declared to be severable.
<br /> 16. Borrowets 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 the Property; A�umptiom If all or any part of the Property or an interest theroin 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 /> t this MoRgage, (b) the creation of a purchase money securiry interest for household appliances, (c) a transfer by devise,
<br /> } descent or by operation of ]aw 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 securcd by this Mortgage to be
<br /> immediately due and payable. Lender shall have waived such option to acceletate if, prior to the sale w tranafer. 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 iaterest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> - � siaall request_ If Lender has waived the option .to accelerate provided in this paragraph 17, and if Bortower's successor in
<br /> interest has executed a written assumption agreement accepted in writing by L.ender, Lender shall release Horrower from all
<br /> obligations uader this Mortgage and the Nota
<br /> If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordaace with
<br /> paragraph 14 hereo£ Such notice shall provide a period of not lus 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 /> L.ender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> - i , . Nox-Ux�FonM CovPrr�tars. Borrower and Lender further covenant and agree as follows:
<br /> ♦ ,� 18. Acederation; Remedles. E�ccept as provided in psraRnph 17 hereof, upon Borrower's breach of aoy covenant or
<br /> agreemeat of Sorrower ln tl� Mortgagy tocluding the covenants to pay whea due any sums aecured by this Morlgage, �
<br /> I.eoder pdor to accekradon shalt ma� noNce to Borrower av provided in psragraph 14 hereof specifyin�g: (1) the breach;
<br /> (2) t6e actioa reqoi�ed to curc anch Ixeac6; (3) a date, uot las tdan 30 days from the date the notice is mailed to Borrower, s�'-'" '
<br /> r;` by w61ch 'wch 6rcach mast be cure� md (4) that taitare to cure such 6reach on or before the dah speci8ed In the notice " ° " �
<br /> mny resolt ln accekratloa o[ t6e sums eecured by this Mortgaqe, toreclosuee by jodicisl proceeding and sale oE Ihe Property. � � .
<br /> Tlie notiee eha0 foetLv hnform Borro�rer oE t6e right to reiLstate after accelentton sed the rigLt to assect In the foreclosure � '- ^;
<br /> proceeiltog the non-ezistence. of a de[anit or any ot6er defense of Borrower to aceeleretion and foreclosare. If the bresch �;,
<br /> Is �rot cored on or 6eEore the date,apeci8ed id the notice, Lender at Lendds optioa may declsre aD of the smu secured by a'; '
<br /> tLb Mocl�qe to 6e'immediahly dne and payable withont furlher demand and may torectose by jadicisl proceeding. I.ender � '- ;
<br /> sbsll be:eodticd to collect faeuc6 proceMing:all e�cpense8 oE torecloaure, locludtng, bW not Ilmked to, costs of documeotary ;.:� " °;�t, ,
<br /> : � > evldence, abtracts and Wle,repods. _ . :,. . _- ,�r
<br /> s , nding Lender's acceleration of the sums secured by this Mortgage,
<br /> � BorrowerBha�l ha e8the�r�lght�to ha�any pt+oceed ngs begua by Lender to eoforce this Mortgage discontinued at any time
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