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<br /> Lender's wri[tert agreement or applicable law. Borrower shatl pay the amount of all mortgage insurance premiums in the
<br /> manner pfovided under paragraph 2 hereof.
<br /> Any amounts disbuned by Lender pursuant ro 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 shall bear interest from the
<br /> �i date of disbursement at the rate payable from time to time on outstan8ing principal under the Note unless paymmt of
<br /> 1; interest at such rate would be contrary to applicable law, in which event such amounu shali bear interest at the highest rate
<br /> � C'7 permisaible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expeffie or take
<br /> � r� any action hereundea
<br /> ; � 8. Inspectiom Lender may make or cauu to be made reasonable entries upon and inspections of the Property, provided
<br /> � that Lender shali give Borrower notice prior to any such inspection specifying rcasonable cause therefor related to Lender's
<br /> i � interest in the Property.
<br /> � � 9. CondemnaHon. 7'he proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> l � condemnation oc other taking of the Property, or part thereof, or for conveyance in Iieu of condemnation, are hercby assigned
<br /> ; and shall be paid to Lender.
<br /> Op Tn the event of a total taking of the Properry, the proceeds shall be applied to the sums secured by this Mortgage.
<br /> ' I�, with the eacess, if nny, paid to Bortower. Tn the event of a partial taking of the Properry, unicss Borrower and Lender
<br /> ' otherwise a ree in writin there shall be a lied to the sums secured b this Mort a e such ro ortion of the roceeds
<br /> B S. PP Y 8 8 P P P
<br /> '. as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior io the date of
<br /> � taking bears to the fair market value of the Property immediatcly prior to the date of taking, with the balance of the proceeds
<br /> j paid to Borrower.
<br /> `, If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the wndemnor offera to make
<br /> jan award or settle a claim for damages. Borrower fails to respond to Lender within 30 days afrer the date such notice is
<br /> � mailed, I.ender is authoriud to collect and apply the proceeds, at Lender•s option, either to restoration or repair of the
<br /> Property or to the sums secured by this Mortgaga
<br /> . � Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shal! not extend
<br /> � or postpone the due date of the monthly installments referred to in paregraphs 1 and 2 hereof or change the amount of
<br /> � such installmenLs.
<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 interest of Hortower shall not operate to release, in any munner,
<br /> : � the liability of the original Bonower and Borcower's successors in interest. Lender shall not be required to commence
<br /> proceedings against sucts succeuor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> j secured by this Mortgage by reason of any demand made by the original Borrowe� and Borrowers successors in interest.
<br /> il. Forbearance by Lender Not a R'aivea Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> � otherwise afforded by applicable 1aw, shall not be a waiver of or predude 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 /> � right to accelerate the maturiry of the indebtedoess secured by this Mortgage.
<br /> 12. Remed?es Comuladve. AII remedies provided in this Mortgage are distinct and cumidative to any other right or
<br /> ' j rcmedy under this Mortgage or afforded by law or cquity. and may be ezercised wncurnntly, independently or successively.
<br /> } 13. Snccessors nnd Asslgm Bou�; Joint and Several i.iabliry; CapHons. The covenants and agreements heroin
<br /> � containcd shall bind, and the rights hercunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br /> � subject to the pravisions of paragraph 77 hereof. AII covenants and agreements of Borrower shall be joint and severaL
<br /> 'It�e captions and headings of the paragraphs of this Mortgage are for convenience only and aro not to be used to
<br /> � interpret or deAne the provisions hereof.
<br /> ' i 14. NoNce_ Except for any notice required under applicable law to be given in aao[her manner, (a) any notice to
<br /> 3 Borrower 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 Lender as provided herein, and ?"
<br /> � (b) any notice to Lender shall be given by certified mail, retum receipt requested, to Lender's address stated herein or to ;
<br /> j sueh other addrus 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 menner dui�ated herein.
<br /> � 15. Unlform Mortgagr, Governing i.aw; Severa6tlity. This form of mortgage combines uniform covenanu for national
<br /> use and non-unifonn covenants wiffi 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 Nore conflicu with applicable law, such conflict shall not atfect
<br /> � other provisions of this Moztgage or the Note which can be given effect without ffie conflicting provision, and ro this
<br /> � end the provisions of the Mortgage and the Note are declared to be severable.
<br /> . i 16. Borrower's Copy. Bormwer shall be furnished a conforrned copy of the Note and of this Morlgage at the time
<br /> ' ? of execution or after ttcordation hereof_
<br /> j 17. Transfer of the Property; Assumption. If all or any part of the Property or un interest therein is sold or transferred
<br /> ( i, by Horrower without Lender's prior written consent, excluding (a1 the creation of a lien or encumbrahce subordinate to
<br /> athis Mortgage, (b) the creation of a punhase money ucurity interest for household appliances, (a) a transfer by devise.
<br /> descent or by operation of Iaw upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br /> ? not containing an opdon to purchase, Lender may, at Lender's option, dectarc all the sums secured by this Mortgage to be
<br /> - � immediatdy due and payabla Lender shall 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 agrcement in writing that the eredit of such petson
<br /> ? is satisfactory to Lender and that the interest payablo on the sums secured by this Mortgage shall be at such rate as Lender
<br /> i shall request. if Lender has waived the option to accelerate provided in this parngraph 17, and if Borrower s succes�or in
<br /> ;- ; interat has executed a writtrn auumption agreement accepted in writing by Lender, i.ender shall release Borrower from all
<br /> obligations under this Mortgage and the Nota
<br /> : i If I.ender exercises such option to accelerate, Lender shall mail Bonower notice of acceleration in accordance with
<br /> -. � paragraph 14 henof. Such notice shall provide a period of not less tha� 30 days from the date the notice is mailed within
<br /> I ;, ; which Borrower may pay the sums declared dua If Borrower fails ro pay such sums prior ro 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-Urnt�otet.t Covetverrrs. Borrower and Lender further covenant and agree as follows:
<br /> ' i 18. Acceleratton; Remedtes. Escept av provid�d in paragraph 17 hercof, upon BorrowePa breac6 of any covenant or
<br /> ; � ag�eement ot Borrower in thh Morfga6e, including the covenants fo pay when due any sums secured by t61e Morlgage, �
<br /> ' � Leader piior to aceeleradon ehall maa notice fo Boerower as provided in paragraph 14 hereof specifying: (1) the breac6;
<br /> j (� t6e actlon re�ulrcd to cuee soch breach; (3) a date, not Ims than 30 days from the date the notice ia mailed to Borrower, _
<br /> ; "� � . by wLtch sach beeqch mast be curcd; aml (4) that f�ilurc to curc snch brcach o0 or beforc the date specified in the no8ce _
<br /> ,, m;y (esolt in accderadon of the eume xcured by this MortgaRe, toreclosure 6y jadlctal proceeding and sale of tl�e Property. • `� :
<br /> f Theaotice s6all foeiher'infoem Borrower of the rlght lo nloebte s[tv acceleration snd the right to assert in t6e foreclosuro �t
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<br /> proceedios ffie mn-existence oE a defaolt or any ot6er defeoee ot Borrower to accelerallon and forecloearc. If t6e 6reach i '' fi ;.
<br /> 4 aat cured on � 6e[oee t6e date specllied Ip t6e' aotice, i.mder at Lende''s option may derlare aH aE the sums securod by a�: �
<br /> h , this Mo�tga�e to be immediately doe and payable wlt6out furlher demand and msy foreclase by judicial proceediug. Lender "
<br /> ahaL be entifled tio co11eM in snch proceeding s11 acpe�roea of foreclosnre, iodn�og, bat not Ilmited to, caafs of docnmentary � ' < :;�'�'$ ,
<br /> '� � � � ,l��d101Yr ��Cb iM� �lIE RPO[�!. . . . . . ,r. n«- ._ . �.
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<br /> � ' � " 19. Bmrow�ere Rt�t tb Refostate. Notwithatanding Lender's ncceleration of the sums secured by this Mortgage, '� "� " ` - `
<br /> , f Borrower shall have the rIght to have auy procxdings begun by Lender to enforce this Mortgage d'ucontinued at any time �
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