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<br /> �s- 002 � 24
<br /> Lendcr's wriiten agreement or upplicable law. Borzower shall pay the amount of stll mortgage insurance premiums in the
<br /> manner ptovided under paragraph 2 heroof. '
<br /> P Any amounts disbursed by L.ender pursuant to 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 /> � amounu shafl be payable upon notice from Lender to Bomower 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 /> inurest at auch rate woutd be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> permisaible under applicable law. Nothing wntained in this paragraph 7 shall require Lender to incur any ezpenu or take
<br /> any action henunder.
<br /> 8. IospecHon. Lender may make or cause to be made reasonable 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 /> i 9. CondemnaHon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> � condemna[ion 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 of the Property. the proceeds shall be applied to the sums secured by this Mortgage.
<br /> ; � with the excess, if any, paid to Borrower. 7n the event of a partial taking of the Property, unless Borrower and Lender
<br /> z otherwise agree in writing, there shall be applied to the sums secund by this Mortgage such proportion of the proceeds
<br /> i as is equul to tBat proportion which the nmount of t6e sums secured by this Mortgage immediate(y prior to the date of
<br /> ' i taking bears to the fair market value of the Property immediately 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 condemnor ofiers 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. Lender is authorimd to collect and apply the proceeds, at Lender's option. either to restoration or repeir 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 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 secured
<br /> � by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br /> the liability of the original Borcower and Borrower's successors in interest. Lender shall not be required to commence
<br /> proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> ` � secured by this Mortgage by reason oF any demand made by the original Borrower and Borrower s successors in interest.
<br /> ; il_ Forbearance by Lender Not a R'aivee Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> � othercvise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br /> , a . " The;procurement of insurance or the payment of taxes ar other liens or charges by Lender shall not be a waiver of Lenders
<br /> . � ' - right to accelerate the maturity of the inde6tedness secured by this Mortgage.
<br /> , � 12_ Remedtes CamolaHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> remedy under this Mortgage or atforded by 1aw or equity, and may be exercised concurrently, independently or successively.
<br /> ,� � 13. Saccea.wrs snd Assigns Bound; Joint and Several I.iabilify; CapNons. The covenants and agreements herein � . � .
<br /> contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borcower,
<br /> 4 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 ffie paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> interpret or define the provisions hereof.
<br /> 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any noiice to
<br /> Borrower provided for in this Mortgage shall be given by mniling such notice by certified maii a�dressed tu Borrower at "`"�'
<br /> the Property Address or at such other address as Bo�rower 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 /> such other address 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 manner designated herein.
<br /> n I5. UniEorm Mortgagr, Governlag Law; Severability. This form of mongage combines uniform covenants for national ',t
<br /> � use and nonwniform covenants with limited variations by jurisdiction ro constitute a uniform security instrument 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 conHicu with applicable law, such conflict shall not atfect
<br /> s other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> ' E end the provisions of the Mortgage and the Notc are dedared to be severabla
<br /> � 16. Bomower's Copy. Borrower shalt be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> � of execution or aRer recordation hereof.
<br /> ; 17. T�aosfcr of the Property; Assumpfion. If all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrahce subordinate to
<br /> ' ; this Mortgage, (b) the crca[ion 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 /> y ' no[ containing an option to putchase, 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 transfer. Lender
<br /> ' and the person ro whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br /> � 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 reques[. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> ? interest has executed a written aasumption agreemeni accepted in writing by Lender. Lender shall ydease Borcower from all
<br /> ;:� obligations under this Mortgage and the Nota
<br /> If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> ^ ,�, paragraph 14 hereof. Such notice sha11 provide a period of not less than 30 days from the date the notice is mailed within
<br /> ;: i which Borrower may pay ihe sums dectared due. if Borrower 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 hereof.
<br /> ` � Nox-Ux►rortt�.t Covs�vexTs. Borrower and Lender funher covenant and agree as follows :
<br /> w 18. Accderatiou; Remedies. Excep! as provided in paragraph 17 hereof, upon Borrower's 6reach of any covenant or
<br /> 'c agreemmt of Borrower iu this Mortgagq Including the covenants to pay when due any sums secared by t6is Morlgagq �
<br /> ' � Lender prior to acceteratlon s6aU maa noNce to Borrower as provided in paraqnph 14 hereof specifying: (1) the breach; -�
<br /> � 't (2) the sction reqoired to curc such breach; (3) a date, nol leas than 30 days fmm the date the notice is mailed to Borrower, �. ��— �
<br /> ` y, by �►hicL auch brcach musl 6e cured; aad (4) t6at fatluce to cure such breach o0 or before t6e date specitied In the notice �r .m 's
<br /> '� may rcsolt ln accelenfioo of the sams securcd by this Morlgage, foreclosare by jndicial proceeding and sale of the Property. �
<br /> .� T6e noNce aLall fmt6er i�orm Borro�ver oE the rtght lo reiostate after accelerattoq and the rlght to assert In t6e foreclosure
<br /> � " proceedioe the non-existeaee ot a defad[or �ny other defense of Borrower to accderstion aad fornlosure. If the 6reach � ;
<br /> ,'� b mt cured o0 or before We date apeclHed in the nodce, i,ender at Lender's option may declare all a[ the sums secured by � '� {�i#
<br /> � thb Modpge to be immediately dve and payable wlthout furlher demand aod may foreclose by judlcial proceediug. Lender .
<br /> `,� e6a11 be entkled to coDect in such proceedlog all expensea of foreclosore, inclnd(ng, but not Iimited to, cosfs of documentary `" ' G�,
<br /> , ; evidm¢G abstracls and dtLe roporfs. ^ +rt .
<br /> "A 19. Eorrowds Rl�6t to Relmtate. Notwithatanding Lender's acceteration of the sums secured by this Mortgage,
<br /> Bo[row�r shall have the right to haye any proceedings begun by Lender to rntorce this Mortgage disconlinued at a�y time
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