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<br /> Lenders written agrecment or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pfovided ander paragrapfi 2 hereof.
<br /> Any amounts disburaed by Le�der pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> ' indebtednces of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> � amounu shaU be payable upon notice from Lender ro Bottower requesting payment thereof, and shall bear interest from the
<br /> I1 date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> j . interest at �uch rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> ! permisaible under applicabie law. Nothing contained in this paragraph 7 shall rcquire Lender to incur any expe�e or take
<br /> iany action hercunder.
<br /> 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> ; ,a 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. CondemnaHon. 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 far conveyance in Iieu of condemnation, are hereby assigned
<br /> and shail be paid to Lendee
<br /> � In the event of a total taking of the Properry, the proceeds shall be applied to the sums secured by this Mortgaga
<br /> ! with the excess, if arty, paid to Borrower. 1n the evertt of a partial takirtg of the Property, cmless Sorrower artd Lender
<br /> � � otherwise agree in writing, there shali be applied to the sums secured by this Mortgage such proportion of 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 Property immediately prior ro the date of taking, with the balance of the proceeds
<br /> � paid to Borrower.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offera to make
<br /> � an award or settie a daim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> � O mailed, Lender is authoriud to collect and apply the proceeds, at Lender's option, either to rutoration or repair of the
<br /> } ' Property or to the sums secured by this Mortgage.
<br /> f pp Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principai shall not extend
<br /> � 1� or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> such instatlments.
<br /> � 10. Borrower Not Released. 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 inrerest of Bonower shall not operate to release. in any manner.
<br /> ' the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> � proceedings against such successor or rofuse 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. Forbearence by Leoder Not a Waiver. Any forbearence by Lender in exercising any right or remedy hereunder, or
<br /> otherwise afforded by applicabie law, shall nat 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 shatl not be a waiver of Lender's
<br /> ! right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> ' 12. Remedles CumulnHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
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<br /> � rcmedy under this Mortgage or afforded by law or equity. and may be exercised concurrently, independendy or successively. ;'
<br /> ; 13. Soccwors aad Asslgns Bound; Joint and Several I.Iabiltty; Captions. The covenants and agreements herein
<br /> �a contaiaed 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 Bonower shall be joint and severaL , ' '
<br /> " + The captions and headings of the paragraphs of [his Mortgage are for convenience only and are not to be used to
<br /> interpret or deSne the provisions hereof_ ,
<br /> � 14. Notice. Except for any notice required under applicable law to be given in another manneq (a) any notice to
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<br /> Borcower provided for in [his Mongage shall be given by mailing such notice by cenified mail addressed to Borrower at
<br /> the Property Address or at such oiher address as Borrower may designate by notice to Lender as provided herein, and
<br /> � (b) any notice to Lender shall be given by cer[ified mail, retum reccipt requested, ro Lenders 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 Borcower or Lender when given in the manner designated herein.
<br /> 15. Uniform Mortgage; Governtng Law; Severab111ty. This form of mortgage combines unifortn covenants for national ��
<br /> � use and non-uaiform covenants with limited variations by jurisdiction to constitute a unifortn security instrument covering
<br /> j 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 applicable law, such conflict shall not affect
<br /> i other provisions of this Mortgage or the Note which can be given effect without the con8icting provision, and to this `
<br /> � end the provisions of the Mortgage and the Note are dedared to be severable. '
<br /> ' � 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage nt the time
<br /> � of execution or after recordation hereof.
<br /> 17. Transfer of the Property; Assumption. If all or any part of the Property or an intercst thercin is sold or transferred
<br /> by Borrower without I,ender's pnor 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 deviu,
<br /> descent or by operatioa of law upon the death of a joint tenant or (d) the grant of any Ieasehold 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 havc 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 agreement in writing that the credit of such person
<br /> � is satisfactory to Lender and that the interest payable on t2ie sums secured by this Mortgage shall be at such rate as Lender
<br /> shall request. If Lender 6as waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> � interat has executed a written assumption agreemrnt accepted in writing by Lender, Lender shall release Borrower from all
<br /> obligations under this Mortgage and the Note.
<br /> If 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 Borrower may pay the sums declared due. If Borrower fails to 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 18 hereof.
<br /> , � Nox-UxtaoxM CoverrexTs. Borrower and Lender further covenant and agrce as follows
<br /> � . 18. Accderatlon; Remedles. Fsttpt a4 provided !n paraRraph i'7 hereof, upon BorrowePs 6reach oF any covevant or �
<br /> , ageeement o[ Borrower ln Wis Morlgage, including the covenants to pay when due any sums secured by t6ia Morlgage,
<br /> ' r Leoder prb� to acceieratlon shall mall noHce to Borrower ns provided in paragraph 14 6ereof specifying: (1) the brcac6; ,y " ' ^s;�
<br /> � 3 (2) the-actlon cequircd to curc.aucb 6rcach; (3) a date, not /eac than 30 days from the date the noNce is maikd to Borroweq "'��
<br /> by �►6ich wc6 brcach most be cnred• and (4) that faUnrc to cure such breach on or beforc Ihe date � ;�
<br /> > speci8ed in the notice " �
<br /> '! may renult ln mderation of the eams aecarcd by thie Mortgeqe, foreclosure by jndicisl proceediog and sale of t6e Properfy. ' �
<br /> {� 1Le �blice sLaD fort6er IoEocm Borrower of the right to nfastate aftu acceleralloo and the right lo assert in the foreclosurc ,� •; �j �
<br /> proceeding the non-extstence o[ a de[ault or any other dehnse of Borrower to acceleretioo and fomlosurc. II the 6reach £-.' �
<br /> ;� is"not'cured o0 or before the d�te speclfled jn the noHce, Leoder at Lender'a option may declarc a0 of the soms secured 6y � a yw"y
<br /> thls Mort�pge to 6e immedtately doe aod psyable wlthout faAher demand and may foreclose by judlcial proceeding. Lender .,,; -,
<br /> -� shaII be-entWed Io co0ect In such proceeding alt expenses ot foreclosurc, Including, but not Itmtted to, coats of documentary �k'
<br /> , � ertdeoce. a6atracts amd tlqe repocta. , j '",
<br /> ,- � 19. Borrowei's RIgL! to Reinstate. Notwithstanding Lender'a acceleration of the sums secured by this Mortgage.
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<br /> Bornvwer shall have t�e right to have any proceedings begnn by Lcnder to enforce this Mortgage discontinued at any time
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