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<br /> �' 78-• U02730
<br /> � Lender's written agrecment or applicable law. Borrower shall pay the amount of ail mortgage insurance premiums in the
<br /> J manner pYovided under paragraph 2 hereaf.
<br /> a Any atnounu disbursed by Lender parsuant to this paragraph 7, with intezest thereon, shalI become additional
<br /> i indebtedness of Borrower securcd 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 /> date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> interest at auch ratc would be contrary to applicable law, in which event such amounts shalt bear interest at the highest rate
<br /> permisafble under applicable law. Nothing contained in this paragraph 7 shaIl requin Lender to incur any expense or take
<br /> any action hereunder.
<br /> 8. Inspection. Lender may make or cause to be made rcasonable 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. CondemnaHon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> wndemnation 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 I.ender.
<br /> In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgaga
<br /> with the excess, if any, paid to Bortower. In the event of a partial taking of the Property, uniess Borrower and I.ender
<br /> otherwise agree in writing, thero 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 Proper[y immediately prior to the date of taking, with the balance of the pcoceeds . . � �
<br /> paid to Borrower. `
<br /> If tlx Property is abandoned by Borrowe[, or if, after notice by L.ender to Bortower that the condemnor offers to make r'
<br /> an award or set8e 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 Lender's opiion, either to restoration or repair of the k
<br /> Property or to the sums secured by this Mortgage.
<br /> Unless Lender 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 i and 2 hereof or change the amount of _
<br /> such installments.
<br /> ,,� 10. Borrower Not Relensed. Extension of the time for payment or modiflcation of amortization of the sums secund
<br /> } by this Mortgage granted by L.ender to any successor in interest of Borrower shall not operate to releaae, in any manner,
<br /> the liabiliry of the original Borcower and Borrower's successors in interest. Lender shall not be required to commence
<br /> proceedings against such successor or refuse ro eztend time for payment or otherwise modify amortization of the sums
<br /> ucured by this Mortgage by reason of any demand made by the original Borrower and Borrower s successors in interest.
<br /> 1]. For6earance 6y Lender Not a Waiver. Any forbcarance by Lender in exercising any right or remedy hereunder, or Y
<br /> otherwise afforded by applicable law, shall not be a waiver of or preclude the ezercise af 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 maturity of the indebtedness ucured by this Mortgage.
<br /> 12. Remedies Camolative. AlI 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 concurrently, independenHy or successively. `<
<br /> 13. Soccessors and Asslgm Bonnd; Joint and Several I,iability; Captlo�. The covenants and agreemrnts herein �'
<br /> contained shalt bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, s
<br /> subjeM to the provisions of paragraph 17 hereof. Atl covenants and agreements of Bonower shall be joint and severaL �
<br /> The captions and headings of the paragraphs of this Mortgage am for convenience only and aro not to be nsed to i 1.;;
<br /> interpret or define the provisions hereof.
<br /> 14. Notice. Except for any notice ttquired under applicable law to be given in another manner, (a) any notice to �
<br /> 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 L.ender as provided herein, and
<br /> (b) any notice ro Lender sha11 be given by certified mail, retum receipt requested, to Lender's address stated herein or to +
<br /> such other addrcss as Lender may designate by notice to Borcower as provided herein. Any notice provided for in this p
<br /> MoRgage shall be dcemed to have been given to Borrower or Lender when giveo in the manner designated herein. �
<br /> 15. UniEorm Mortgage; Goveming Iaw; Severabatty. This form of mortgage combines uniform covenants for aationat t.
<br /> use and non-unifortn covenants with limited variations by jurisdictio� to constitnte a uniform security instrument eovering t
<br /> � real propeny. 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 ar the Note conflicts with applicable law, such conflict shall not affect
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to tfiis ;
<br /> '� end the provisions of the Mortgage and the Note are declared to be severabla
<br /> 16. Borrower's Copy. Borrower shall be furnished a conform�d copy of the Note and of this Mortgage at the time
<br /> of euecution or after recordation hereof. •
<br /> 1�. Traosfer of the Property; A�umpUon. If all or any part of the Property or an intercst therein is sold or transfemd
<br /> by Borrower without Lender's prior written consent, exduding (a) the creation of a lien or encumbrahce subordinate to ;
<br /> this Mortgage, (b) the crcation 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 pu:c6ase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br /> immediately due and payable. I.ender 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 petson
<br /> is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at suc6 rate as Lender
<br /> shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interest has eaecuted a written assumption agreement accepted in writing by Lender. Lender shall rclease Borrower from all
<br /> obligations under this Mortgage and the Note.
<br /> If L.ender exercises suah option to accelerere, Lender shatl mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 huwf. Such notiee shall provide a period of not lus than 30 days from the date the notice is mailed within
<br /> which Borrower may pay the snms declared due. If Boaower 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 hercof.
<br /> Nox-Utairoxrt CovetawNrs. Borrower and Lender further covmant and agree as follows:
<br /> 18. Acceleratlon; Remedles Fscept as provlded in par�graph 17 hereot, upon Borrowets breac6 of �ny coven�nt or
<br /> -� agreement ot Borrov►er in tMis Mo�tgagq ioclodiug the covena�s to pay when due any sums secured by this Mortgage,
<br /> Leuder prior to accderatton s6a0 maL nodce to Borrower ss provided in paragwph 14 hereof apecitying: (1) the breac6;
<br /> (2) t6e actlon reqoircd to cme aaah breach; (3) a date, not leae than 30 dayn from the date t6e noNce is ma�led to Borrower,
<br /> ;'� , by wWetr mch breac4 mmt 6e cnrcd; and (4) t6at fallure to curc sucb breach on or betore tLe date specilied in ihe notiee ., r.----- r .,.
<br /> may eraolt in accelera/ion of t6e w�re aecured by thte Morfgage, toreclosute by judiclst proceediug and sale of t6e Property. , f
<br /> 1Le'aoNee s6a0 fmtlxr ipEorm Borrower oP tl�e rigM to �rloatate aftv acceleration a� the right to asse�! in the torecloaure � 3
<br /> proeeedtos fbe non.a[Istence of a defaolt or any ot6er defe�ree of Borrower to accetersttoa and foreclosure. If the breach � I ;
<br /> ,� is not eored on oc bdorc t6r date speciNcd in jhe notice, I.ender at LendePs optton may declare a� o[ t6e aums secared by -+ �, ; ' aa
<br /> , 1h6 Mocl�qe to be immediately due and paya6lr wtthont furl6er demand and msy toceclose 6y judMial proceedtog. Lender „�.:; ,, `
<br /> ' shap�6e eafMled to eopect in socti proceedina all expe�roes ot toreclosure, incto�og, bot not Itmked to, casb ot docnmeotery % ' � "" ,;;� .
<br /> evldencer�abdeacts and tllk' repo�b. � = y �t
<br /> '- ` 19. Donowp's' Risht W Rdmtate. Notwithatanding I.eader's acceleration of the sums securcd by this Mortgage, •" - •^
<br /> } Bormwer ahait l�ave ffie right to have any proceedings begun by Lender to rnforee this Mortgage discontinued at any time
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