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<br /> I.ender's written agreement or applicable law. Borrower shall pay the amount of atl mortgage insurance premiums in the
<br /> manner provided under paragraph 2 hereof.
<br /> Any amounts disbursed by L.cnder pursuant to this paragraph 7, with interest thereon, shal! becoma additional
<br /> indebtedness of Bortower secured by this Mortgage. 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 shall bear interest from the
<br /> date of disbursement at the rate payable from time to time on outstanding principal under the Note uniess payment of
<br /> � interest at auch rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> i permisaible under applicabtc law. Nothing contained in this paragraph 7 shall require L.ender to incur any expenx or take
<br /> j any action hercunder.
<br /> ; 8. Tospecdon. Lender may make or cause to be made reasonable entries upon and inspeMions of the Property, provided
<br /> ! that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor relared to Lender•a
<br /> r interest in the Property.
<br /> 9. Condemnallon. 7'he 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 lieu of condemnation, are hereby assigned
<br /> ; and shall be paid to Lender.
<br /> *"'� In the event of a total taking af the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> ? ri with the excess, if an
<br /> y, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and I.ender
<br /> I` otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> � as is equai to that proportion which the amount of the sums secured by this Mortgage immediately prior ro 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 Horrower_
<br /> % If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br /> '� � an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days nfter the date such notice is
<br /> ; � mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to resroration or repair of the
<br /> Property or to the sums secured by this Mortgage.
<br /> ` Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extrnd
<br /> or postpone the due date of the monthly instaltments referred to in paragraphs 1 and 2 hercof or change the amount of
<br /> � 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 Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
<br /> s the liability of the original Bonower and Borrower's successors in interest. Lender shall not be mquired to commence
<br /> � proceedings against sucb successor or refuse to extend time for payment or othenvise modify amortization of the sums
<br /> ± secured by this Mortgage by nason of any demand made by the original Borrower and Borrower's successors in interest.
<br /> ! I1. Forbearance
<br /> by Le�der Not a Waivea Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> ; otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br /> j 'fhe procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br /> € right to accelerate the maturiry of the indebtedness secured by this Mortgage.
<br /> f 12. Remedies Camolative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> ; rcmedy under this Mortgage or afforded by law or equity, and may be exercised concurrenQy, indep�nden8y or successivNy.
<br /> � 13. Saccesson and Assigns Bound; Joint and Several i.iabillry; CapHons. The covenants and agreerreents herein ^
<br /> ; � co�tained 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 shall be joint and several.
<br /> � The captions and headings of the pazagraphs of this Mortgage are for convenience only and are not to be used to
<br /> j interpret or define the provisions hereof. -
<br /> , ( 14. NoHce. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br /> : j Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br /> # the Property Addnss or at such other address as Bonower may designate by notice to Lender as provided herein, and �''`
<br /> (b) any notice to Lender sha!! be given by certified mail, return receipt requested, to Lender's address atated herein or to
<br /> � such other addrus as Lender may designate by notice to Borrower as provided hezein. Any notice provided for in this
<br /> Mongage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> � 15. Unlform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br /> i use and non-uniform covenanu with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> � real property. Thu 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 conflicu with applicable law, such conflict shal7 not affect
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> i md the provisions of the Mortgage and the Note are dectared to be severabte.
<br /> 3 16. Borrowee's Copy. Borrower shall be furnished a conformed copy of the Note and of this Moctgage at the time
<br /> � of execution or after rocordation hereof.
<br /> ; � 17. Transfer of the Property; A�umption. If all or any part of the Pmperty or an intercst therein is sold or transferred
<br /> by Borrower without LendePs prior written consent, exctuding (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 /> descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intecest of three years or less
<br /> � not coataining an option to purchaae, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br /> t immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, L.ender
<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 /> ; i is satisfactory to Lender and that the interut payabte on the sums secured by this Mortgage shall be at such rate as L.ender
<br /> shall request. If Lender has waived the option to accelerate provided in this paragraph l7, and if Borrower's svccessor in
<br /> ' t interest has exewted a written assumption agreement accepted in writing by Lender, Lender shall rolease Boaower from all
<br /> obligations under this Mortgage and the Note.
<br /> � If Lender exercises such option to accelerate, Lender shall mail Sorrower notice of acceleration in accordance 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 declared due. If Borrower fails to pay such sums prior to the expiration of such period, !
<br /> ; #i Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 her+eof. �
<br /> ( Nox-Urrtportu.� CoverreNrs. Borrower and Lender funher covenant and agree as follows: i
<br /> 1 18. Accde�/ioo; Remedies. Eucept as provided in paragrsph 17 hercof, upon Borrower'a breach of any covenant or
<br /> � agreement of Bomower in t6is MortYagq tocludiug tbe covenants to pay when due any sums secared by this Morlgage,
<br /> Lender prlor to accehnUon shaD mail noNce to Borrower as provided in paragraph 14 hereof specifyi�: (1) tbe breach; �
<br /> ;� I (2) t6e actlon requi�ed to ence such breacM, (3) a datG nat Ims tl�an 30 days from the date the notice h msiled to Borroweq „,_:
<br /> „ by- which sach 6reach mast be curcd; snd (4) t6at failure to curc suc6 bresch on or before t6e date specified in the notice •w �--�. � :
<br /> may reault in aecelera8on o[ the anms secured by this Morlgaqe, foreclosnre by judiclal proceeding a� sale of the PropeRy. g
<br /> Tbe oodce eLall further inform Borrov►er of the right to retnstate aku acceteration a�d the dght to asaert in t6e forcclosure ,� {
<br /> proceedio` the aon-exldence ot a detadt or any ot6er deferae of Borrower to acceleradon and foreclaeure. if the breach i r
<br /> is not cored on or 6efore the date speci8ed iq the notice, Leoder at I,ender`s option may declare aIl oi the sams xcuRd by
<br /> fhb Mortgage to be"Immcdistety due aod payable withoot [orlher demand and may foreclwe 6y judiciat proceeding. Lender ,"Y ' i
<br /> ". � s6all be enfifled fo coUect tn such proceeding all expeoses ot tocectosure, including, bat uot limked to, costs of documeotary " �
<br /> � ti ` .,
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<br /> . � e�t�nee, absteacts and tltte xpocb. ` ,. .
<br /> , ? 19. Eo�rownde Ri�ht to Reindate. Notwithstanding Lendv's acceleration of the sums secured by this Mortgage, :art '
<br /> ,.:; .�: , Borrower ehall have the right to, have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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<br /> ,r��. .s . � � � . .
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