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<br /> �s-- UO ?_ 732
<br /> Leader's writtrn agreement or appiicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pYovided under paragraph 2 hereof.
<br /> ` Any amounb disbursed by I.ender pursuant to thia paragraph 7, with interest thereon, shall become additional
<br /> j indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such `
<br /> �, amounts ahall be payable upon notice from Lender to Borcower reqvesting 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 such rate would be contrary to applicable law, in which rvent such amounts shall bear interest at the highest rate
<br /> :� permiseible under applicable law. Nothing contained in this paragraph 7 shal] require Lender to incur any expense or take c ' .
<br /> any sction hereunder. F -
<br /> i S. Inepectlon. Lender may make or cause to be made reasonable entries upan and inspections of the Property, provided �
<br /> � that i.ender shall give Borrower notice prior to any such inspection specifying nasonable cause therefor related to Lender's :
<br /> interest in the Property. I
<br /> 9. Coodemoatlon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> ; condemnation or other taki�g of the Property, or pact thereof, or foc conveyance in lieu of condemnation, are hereby assigned
<br /> ; and shall be paid to Lender.
<br /> S In the event of a totai taking of the Properry, the proceeds shall be applicd to the sums secured by this Mortgage.
<br /> r with the excess, if any, paid to Borrower. Tn the event of a partial taking of the Property, untess Borrower and Lender
<br /> i otherwiu agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds �
<br /> as is equaf to t6at 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 Borrowcr. ;
<br /> � If the Property is abandoned by Borrower, or if. after notice by Lender to Bortower that the condemnor offers to make !'
<br /> � an award or setUe 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 option, either to restoration or repair of the
<br /> i Property or to the sums secured by this Mortgage.
<br /> ` { LTnless Lender and Borrower otherwisc agree in writing, any such application of proceeds to principal shall not extend +'
<br /> � or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of `
<br /> such i�stallmenu. ?
<br /> s j 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 Borrower shall not operate to release, in any manner, i
<br /> j the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> � proceedings againsi such successor or refuse to extend time for payment or othenvise modify amoctization of the sums �
<br /> securod by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. ;
<br /> , i li. Forbearaace by Lender Not a Walver. Any forbearance by Lender in exercising any right or remedy hereunde�, or `.
<br /> { othernise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. i
<br /> � The procurement of insurance or the payment of taxes or other liens or charges by I.ender shall not be a waiver of Lender's
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br /> f 12. Remedles Comulative. All rcmedies provided in this Mortgage are distinct and cumulative to any other right or i
<br /> � remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independendy or successively.
<br /> 13. Soccesso�s aod Assl�s Bound; Joint and Several i.iabilFiy; Captions. The covenants and agreements herein
<br /> contained 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 /> � T(ie captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to �
<br /> interpret or de5ne the provisions hereof. t
<br /> 14. Notice. Except for any notice required under applicable law [o be given in another manner, (a) any notice to
<br /> � Borrower provided for in this Mortgage shall be given by mailing such notice by certiSed mail addressed to Borrower at T'"'-�"'
<br /> the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br /> (b) a�y notice to Lender shall be given by certified mail, retum receipt requested, to Lender's address stated herein or to
<br /> such other address as Lender may designate by notice to Sorrower as provided herein. Any nodce provided for in this t
<br /> Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner daignated herein
<br /> 15. Uniform Mo�tgage; Goveming Law; Severa6llity. This form of mortgage combines uniform covenanss for national
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security insvument covering
<br /> 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 wnfliM shall not afieM
<br /> other provisions of this Mortgage or the Note which can be given efrect without the conflicting provision, and to thu
<br /> end the provisions of the Mortgage and the Note are dedared to be severabla
<br /> 16. Borro�vete Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of eaecution or after recordation hereof.
<br /> 17. Transfer of t6e Property; Assumption. If all or any part of the Property or an interest therein is soid or transEerred
<br /> by Horrower without Lender's prior written consent, ezcluding (a) the creation of a lien or encumbraioce subordinate to
<br /> this Mortgagq (b) ffie creation of a purchase money security interest for household appliances, (c) a tracufer by devise,
<br /> descent or by operation of law upon the death of a joint tenaat or (d) the grant of any leasehold interest of three years or las
<br /> not containing art option to purchase, i.ender may, at Lender's option, declare all the sums securcd by this Mortgage to be '
<br /> immediatdy due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> and the person to wt�om the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br /> is satisfactory to Lender sod that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Bortower's successor in
<br /> interest 2�as executed a written assumption agreement accepred in writing by Lender, Lender shall release Bomower from all
<br /> obligations under this Mortgage and the Note.
<br /> If Lender esercises such option to accelerate, Lender shall mail Borrower notice of aeceleration in accordance with
<br /> paragraph 14 hereof. Such notice shalt provide a period of not Iess tha� 30 days from the date the notice is ma9led within
<br /> which Borrower may pay the sums declared due. If Borrower fails ro pay such sums prior to the expiration of such period,
<br /> Lender may, withoui further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hercof.
<br /> � Nox.Ux�poxnt CoveNww�rs. Borrower and Lender further coveaant and agree as follows:
<br /> I8. Accderatton; Remedtes. Except aa provided in paragraph 17 hereof, npon Borrower's breac6 of any covenant or
<br /> sgreemmt oCBorrower in tLis Mortgage, Including I6e covenants to pay wheo due any sums aecared by thia Mortg�e, {
<br /> Lender prior to accderatlon s6a0 maq noNce to Borrower as provided in paragnph 14 hercof apccifyi�: (1) t6e 6rcach; �, :
<br /> (2) the action reqaired to cu�e such brcach; (3) a date, not leaq than 30 daya from the date the notice is matled to Borrower, z �'
<br /> by whie� wch 6reac� must be cared; and (� that failuce to core sucb breach on or before t1�e date speciSed io the noBn : �
<br /> mq resalt In acceleratlon o[ t6e wms aecured by thfs Mortgage, forecloaure 6y jndlcial proceeding and sak of tde Propecty. I � ; `�
<br /> T6a noNce ahall tart6v i�orm Borrowes oE the rtght to retndate after accelentlon and the right to assert in t6e fomlosure -� . ;
<br /> Peocad�: t6e non-exbteoce oI a dchnit or �any o16er defense of Borrower to acceleraHon and [orectosore. If t6e bresch x;° ^�'
<br /> - taoot c�aed oe or bdoro We dat� speci8ed in the noBce, i,endv at Lende�s optlun may declare sl! of the sums securcd by F ; "
<br /> '� ' t6is Mo
<br /> af�e to be' Immedistely'due and psyable without fnrlher demand sod may forcclaee by jud(ciat proceedi�. Lender + ` w f.,
<br /> sha� be entltkd to collect in soch proceedi� atl expenxs oE foredosure, includtng, bat not llrolted to, costa of docomentary "` `' �
<br /> 4. f evideacq abstrac�s aad tltle rcpoAs. , , ':�:
<br /> � 19. Eorrowp+s Ri�pt to Reimqte. Notwithstanding LendeYs acceleration of the sums secured by this Mongage,
<br /> � ,;� Borrower ahall Faave the rjght to hava any proceedings begun by Lender to mforce [his Mortgage discontinued at any time
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