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<br /> Lender's written agrcement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner provided under paragraph 2 hereof.
<br /> My amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> indebtednus of Borrower xcured by ehis 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 shall bear interest fmm the
<br /> ; datc of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> interest at such rate would be contrary to applicable 1aw, in which event such amounts shall bear interest at the highest rate
<br /> ! permissible under applicable law. Nothing contained in this paragraph 7 shall requirc Lender to incur any expense ar take '
<br /> any action hereunden
<br /> i 8. InepecNon. Lender may make or cause to be made reasonable entries upon and iospections of the Property, provided
<br /> i that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> s interestin the Property.
<br /> , i G�2 9. Condemnation. The proceeds of any award or claim for damages, direct ar consequential, in connection with any
<br /> ` ri condemnation or other taking of the PropeRy, or part thereof, or for conveyance in lieu of condemnation, are hettby assigned
<br /> ; � and shall be paid to Lender.
<br /> � � In the event of a total taking of the Properry, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> , F � with thc excess, if any. paid to Borrower. In the event of a partial taking of the Propeny, 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 /> ? 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 to the date of taking, with the balance of the proceeds
<br /> i ^ paid to Borrowec
<br /> : If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor oHers to make
<br /> � an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed, I.ender is authorized to collect and apply the proceeds, at L.ender's option, either to restoration or repair of the
<br /> ` Property or to the sums secured by this Mortgaga
<br /> j Unless Lmder and Borrower otherwise agree in writing. any such apptication of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof 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 uwred
<br /> ! by this Mortgage granted by Lender to any successor in interest of Borrower shal( not operate to release, in any manner.
<br /> i [he liability of the original Borrower and Borrower's successors in inrerest. Lender shatl not be required to commence
<br /> ' roceedin s a ainst such successor or refuse to extend time for
<br /> p g B payment or otherwise modify amortization of the sums
<br /> d secured by this MortgagE by reason of any demand made by the original Sorrower and Borrower's successors in interest.
<br /> � l7. Forbearance by Lender Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hercunder, or
<br /> � otherwise afforded by applicable law, shall not 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 shall not be a waiver of Lender's
<br /> . j right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> � 12. Remedies Cumulalive. AII remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> ` � rcmedy under this Mortgagc or afforded by law or equity. and may be exercised concurrently, independenUy or successively.
<br /> , � 13. Snccawsors and Assigns Bound; Joint and Sevenl i,iablity; CapHons. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder shali inure to, the respective successors and assigns of Lender and Borrower,
<br /> subject to ihe provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br /> � The captions and headings of [he pazagraphs oF this Mortgage are for convenience only and are not to be uud to
<br /> i � interpret or define the provisions hereof.
<br /> ` � 14. Notice. Except for any notice rcquired under applicable law to be given in another manner. (a) any notice to
<br /> f Borrower provided for in this Mor[gage shall be given by mailing such notice by certi8ed mail addressed to Borrower at
<br /> f 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, return reccipt requested. to Lender's address stated herein or to
<br /> such other addras as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> Mortgage shalt be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> I5. Uniform Mortgage; Govemia�g Law; Severebllity. This form of mortgage combines uniform covenants for national
<br /> ,': � use and non-uniform covenants with limited variations by jurisdiction to constitute a unifortn security instrument covering
<br /> j real property. This Mortgage shall be governed by the Iaw of the jurisdiction in which the Property is locatcd. in the _
<br /> � event that any provision or clause of this Mortgage or the Note con8icts with applicable law, such conflict shall not afiect
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> end the provisions of the Mortgage and the Notc are declared to be severable.
<br /> � 16. BorrowePs Copy. Bortower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> ` j 17. Transfer of the PropeAy; A�umpNon. If aIl or any part of the Property or an interes[ therein is sold or transferred
<br /> s by Borrower without I.e�der's prior written consent, exduding (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 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 have waived such option to accelerate if, prior to the sale or 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 pecson
<br /> . t 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. Tf Lender has waived the option to accelerate provided in this paragraph 17, and if Bonower's successor in
<br /> � interest 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 /> f If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with �
<br /> paragraph 14 hercof. Such notice shall provide a period of not leas than 30 days from the date the notice is maled within
<br /> 1 which Horrower may pay the sums declared dua If Borrower fails ro pay such sums prior to the expiration of such period,
<br /> 3 Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> � Nox-UtvtFox�f CoveNw�rrs. Borrower and Lender further covenant and agree as follows:
<br /> � 18. Accelerafbn; Remedtea. Eaccept as provided in panegraph 17 hereof, upon BorrowePs brcac6 of any covenaM or
<br /> agreement of Borrower in this Morlgage, including the co��enaats to pay when due any sums secured by this Morfgage,
<br /> ' :'� Leoder prior fo accekration ehall ma7 notice to Borrower as provided in paragroph 14 hercof specifyiag: (1) the bnac6; p
<br /> � (2) the acNou rcqui�ed to cme anch b�each; (3) a date, not leas thsn 30 days from t6e date the notice is mailed to Bortower, '
<br /> which soc6 brqch mast be cared; and (4) t6at failure to cure such breach o0 or before tbe date � ` "
<br /> by specl6ed io the notice
<br /> may reeult In accderatlon of the snms securcd by this Mortg�q foreclosurc by jodiclal proceedi� and sale of t6e Properly. 4"' � ' «
<br /> ii The aotice s6a1! tarther inEorm Boerower oE the rlght to relnstate after acceteration and the rtght to assert in t6e foreclosure t �
<br /> � proceedl� the nontxietence of a defadf or any otLer defense oP Borrower to accdention and foreclosure. if tbe 6reach � �t ;
<br /> is n� cored on or beLorc f6e date sped8ed in t6e notice, Lendv at Lender's opUon may declare s� of the sums secured by �: ,
<br /> ,� tl�s Morf�e W be_Immediatdy doe and paylble without fnrther demand and may foreclose by judiclsl proceeding. i.ender
<br /> s6all be enfifled to coLeM in soch proce�ding all ' expenecs oE toreclosurc, lncluding, but not timited to, casts ot documentary ; : �
<br /> evldence, abstracts snd tltle nporb. t ;: `�'
<br /> :, ; , 19. Borrower's RisLt to Reimvte. Notwithstanding Lender's acceleration of the sums secured by this Mortgage, ,. ,, �. , �, "`
<br /> Borrower shall have the right to have any proceedings (xgun by T_ender to enforce this Mortgage discontinvcd at any time
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