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<br /> 78- 002708
<br /> Leader's written agreertaent or applicable law. Bonower shall pay the amount of al1 mortgage insurance premiums in the
<br /> manner pfovided under paragraph 2 hercof.
<br /> Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> �� amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shail bear interest from the
<br /> date of disbursemmt at the rate payable from time to time on outstanding principal under the Note unless payment of ; .
<br /> ; internst at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> ; ' permissible under applicable law. Nothing contained in this paragraph 7 shell require Leoder to incur any expense or take
<br /> any action hereunder.
<br /> ` 8. InapecNon. 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 Lender•s
<br /> � interest in the Property.
<br /> � 9. Condemnatton. The proceeds of any award or claim for damages, direct or wnsequential, in connection with any
<br /> � condemnation 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 L.ender.
<br /> 7n the event of a totat taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borcower. In the event of a partial taking of the Property, unless Borrower and Lender
<br /> � otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> 4" as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> takin bears to the fair market value of the Pro rt
<br /> � B pe y immediatety prior to the date of taking, with the balance of the proceeds
<br /> j paid to Horrowec
<br /> If the Property is abandoned by Borcower, or if, after notice by Lender to Bortower that the condemnor offers to make
<br /> ' � an award or setUe a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed, Lender is authoriud to collect and apply the proceeds, at L.enders option, either to restoration or npair of the
<br /> Property or to the sums secured by this Mortgage. >
<br /> � Unless Lender and Horrower otherwise agree in writing. any such application of proceeds to principal shall not extend
<br /> ` ? or postpone the due date of the monthty installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> ; j such installments. �
<br /> : ! 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br /> i by this Moetgage granted by Lender to any successor in interest of Borrower shal! not operate to release. in any manner,
<br /> � the liabiliry of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence �
<br /> proccedings against such successor or refuse to exrend time for payment or otherwise modify amortization of the sums ;
<br /> isecurtd by this Mortgage by nason of any demand made by the original Borrower and Borrower's successors in intercst.
<br /> � 11. Forbeannce by Lender Not a Waivee Any forbearance by Lender in exercising any right or rcmedy hereunder, or
<br /> otherwise afforded ' by applicable taw, shall not be a waiver of or prcclude the exercise of any such right or remedy. .
<br /> � The procurement of insurance or the payment of taxes or other Iiens or charges by Lender shall not be a waiver of Lender's
<br /> � right to'accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> i " 72: Remedies CamulaNve. AII remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> < remedy under this Mongage or afforded by law or equity. and may be exercised concurrenUy, independently or successively.
<br /> � 13. Successors aad Assigns Bound; Joint and Several i.iabaity; CapHons. The covenants and agreements herein
<br /> � contained shall bind, and the rights hereunder shall inure to, the rospective successors and assigns of Lender and Borrower.
<br /> � subject to the provisions of paragraph 17 hereof. All covenants and agroements of Borrower shall be joint and several. f
<br /> The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> _` � interptet or define the provisions hereof.
<br /> 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any noticc to
<br /> � Borcower provided for in this Mortgage shall be given by mailing such notice by certiHed 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 ro Lender shall be given by certified mail, retum receipt rcquested, to Lender's address stated herein or to
<br /> such other addnss 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 I_ender when given in the mannec designated herein.
<br /> ' 15. Uniform Mortgagr, GovernLng Law; Severa6ility. This form of morcgage combines uniform covenanu 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 law of the jurisdiction in which the Property is located. Tn ihe
<br /> � event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conHict shall not affect
<br /> � other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> " 1 end the provisions of the Mortgage and the Note are declared to be severable.
<br /> . � 16. BorrowePs 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 Praperty; Assumptlon. If all or any part of the Property or an interest therein is sold or transfemd
<br /> : � by Borrower without L.ender's prior written consent, ezcluding (a) the cmation of a lien or encumbrance subordinate to
<br /> � this Mortgage, (b) the creation of a purchau money xcurity inhrest for household appliances, (c) a transfer by devise,
<br /> < j descent or by operation of law upon the death of a joint tenant or (d) the grant of any leaschold interest of thrce years or lus
<br /> 9� not containing an option to purchase, Lender may, at Lender's option, dedare all the sums secured by this Mortgage to be
<br /> � immediately due and payable. Lender shalt have waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> and the person to whom the Property is to be sold or transferred reach agrecment in writing that the credit of such peeson
<br /> i is satisfactory to Lender and that the inrerest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> i shal! request. Tf Lender has waived ihe option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> + intecest has executed a written aasumption agreement accepted in writing by Lender, Lender shall release Borrower from all •
<br /> � obligations under this Mortgage and the Nou.
<br /> If Lender exercixs such option to acceterate, Lender shal! mail Borrower notice of acceleration in aceordance with
<br /> paragraph 14 hereof. Such notice shall provide a period of not leas than 30 days from the date the notice is mailed within
<br /> � which Borrower may pay the sums dedared due. If Borrower fails ro 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 l8 hereof.
<br /> ' } Nox-UxiFosat Covetwuvrs. Borrower and Lender further covenant and agree as follows:
<br /> � 18. Acceleration; Remedies. Except av provided in paragraph 17 hereof, upoo BorrowePs breach of any covenant or
<br /> � agreement ot Borrower to fhis Modqage, includi� the covenanta to pay when due any sums secured by t6ls Morlgaqe, 4
<br /> Lendarprlor !o acceleration shaR ma0 noBce to Borrower a4 provtded In paragraph 14 hereof specifying: (1) t6e breach; ,,-. : _
<br /> (� lbe actioo nqutred to cure enc6 breac6; (3) a date, not less than 30 dsys from the date t6e notice Is maikd to Borrower, r�� - ,
<br /> , � by �►hich suc6 brwch mmt be cared; and (4) that fapurc fo cure auch breach on or 6efore tLe date apeci8ed in the nodce "
<br /> mry result In accderatlon of the su� aecored by this Mortgsqe, foreclosure 6 udlc3ai ng and aale oE t6e Property. ° `� ¢
<br /> Y ) Pwceedi
<br /> �;� The noHce s6all furt6er In[orm Borrower of the right to reinstate atter accde�aHon and the right to asaert in the foreclosure , ?. ' +
<br /> � proceeding t6e non-pcistence of a default or any other defe�se of Borrower to acceteration and fomtoaure. If the 6rcaeh .� *� E�
<br /> 1s•�t cared on.or bdore 9�e date sped�ed in t6e notice, I.ender at Lender's optlon may declarc alt ot the sums secured by '•
<br /> t, � t6M Mo e to be tmmediatel dne asd • able without fuAher demand and ms foreclase b � ` F`,
<br /> KB'6 Y P Y Y Y �udlcisl proceeding. Lender a .. ,
<br /> ' � ? shall be mtifled Yo collect in sne6 pcoceedtog all expeffies of forecbsure, includine, but not limked tq costs of docomeotary ! '
<br /> . . I ' evldmee, absOraete and tltle nporfa. ,, . < , . ,
<br /> � 19. Somnwers RieM W Relnstate. Notwittutanding Leader's acce'cration of the sums securcd by this Mortgage,
<br /> . � Bortower sl�aII have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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