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<br /> 78- (1f12R60
<br /> Lender's written agreement or applicable law. Bonower shall pay the amount of all mortgage insurance premiums in the
<br /> � manner provided under paragraph 2 hereof.
<br /> ' Any amounts disbursed by Lender pursuant to this paragraph 7, with interost thereon, shall become additional '
<br /> indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such �
<br /> amonnts shall be payabie 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 /> i interest at such rate would Ix contrary to applicable law. in which even[ such amounts shall bear interest at the highest rate
<br /> � permiasible under applicable law. Nothing contained in this paragraph 7 shall requim Lender to incur any expense or take
<br /> � any action hereunder.
<br /> 8. TnspecNon. 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 /> 3 9. CondemnaHon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> : � condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br /> and shell be paid to Lender.
<br /> 7n the event of a total taking of the Property. the proceeds shalt be applied to the sums secured by this Mortgage.
<br /> with tfie excess, if any, paid to Borrowec In t6e event of a partiat taking of the Froperty, uniess 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 /> r 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 [he fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br /> paid to Borrower.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condertnor offers to make
<br /> an award or setNe a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> " ' mailed, I,ender is suthoriud to coltect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> ' 3 Propeny or to the sums secured by this Mortgaga
<br /> : ) Unless Lender and Horrower otherwise agree in writing, any such application of proceeds to principal shall not extend � � .
<br /> or postpone the due date of the monthly instaltments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> ' � such installments.
<br /> 10. Borrower Not Releaved. Extension of the time for payment or modification of amortization of the sums securcd `
<br /> ' by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
<br /> ` the Iiability of the original Borrower 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 Borcower and Borcower's successors in interest.
<br /> i 11. Forbesranee by Lender Not a Walver. Any forbearance by Lender in exercising any right or remedy herounder, 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 /> righ[ to accelerate the maturity of the indebtedness securcd by this Mortgage.
<br /> �.:� � 12. Remedles Cumalative. AlI remedies provided in this Mortgage are distinct and cumulative to any other right or . .
<br /> s remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independenNy or successively.
<br /> � 13. Saccessors and Asstgns Bound; Joint and Several l.iability; Captions. The covenants and agreements herein
<br /> , � contained shall bind, and the rights hereunder shall inure co, 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 uveral.
<br /> , p The captions and headings of the paragraphs of this Mortgage are for convenience only and aro not to be used to
<br /> � interpmt or defiae the provisions hereof.
<br /> i14. Notice. Except for any notice required 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 certiSed mail addressed to Borrower at ; y
<br /> ; � the Property Address or at such other address as Borrower may designate by notice to Lender as provided hercin, and
<br /> � (b) any notice to Lender shall be given by certified mail, return 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 designat�d herein.
<br /> 15. Uniform MortAage; Govemiog Law; Severnbility_ This form of mortgage combines uniform covenants for national
<br /> uu and non-uniform wvenants with limited variations by jurisdiction to constitute a uniform securiry instrument covering
<br /> � real properry. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. in the
<br /> j event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br /> � other provisions of this Mortgage or the Note which cun be given effect without the conflicting provision. and to this
<br /> � , end the provisions of the Mortgage and the Note are dectared to be severable.
<br /> 16. Borrower's Copy. Borrower shall be furnished a conformed copy of thc Note and of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> � 17. Tranafer of the Property; Assumptlon. If all or any part of the Properry 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 encumbrance subordinate to
<br /> � this Mortgage. (b) the creation of a purchase money security intercst 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 gran[ of any leasehold interest of three ycars or less
<br /> � not containing an option to purehase, Lender may, at Lender's option, declare aU the sums secvred by this Mortgage to be
<br /> t immtdiatety due and payable. Lender shall have waived such option to accelerate if, prior to the sale or tra�sfer, Lender
<br /> � and the person to whom the Propeny is to be sold or transferred reach agreement in writing that the credit of such pecson
<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 /> i shall requeat_ If Lmder has waived the option ao accelerate provided in ihis paragraph 17, and if Borrower's successor in .
<br /> I intwest has exewted a wri[trn assumption agreement accepted in writing by Lender. Lender shall nlease Borrower from all
<br /> 1 obligations under this Mortgage and the Note.
<br /> � If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 hereof_ Such notice shall provide a period of not Iess than 30 days from the date the notice is mailed within
<br /> :� which Honower may pay the sums declared due. If Borrower fails to pay such sums prior to the expication of such period.
<br /> ', � Lender may, without further notice or demand on Borrower, invokc any rcmedies permitted by paragraph 18 hereof.
<br /> � Nox-Umaoxrt Covexexrs. Borrower and Lender further covenant and agree as follows:
<br /> � 18. Accderafton; Remediea. Except as provided in para�nph 17 hereot, upon BorrowePs bnach of any covenant or r
<br /> agreement of Borrower in t6is Morlpage, includi�g the covenants to pay when due any sums securcd by this Mortgsge,
<br /> �� Leader p�ior to accderalion s6alt ma7 noHce to Borrower as provided in paragraph 14 hercoE specifytn� (i) the brcac6; w �___- ' �
<br /> .� (2) the actloa rcqoired to cuce such breach; (3) a date, not leas thsn 30 days from the date tFe noKce is malled to Borrower, r� t�
<br /> by whic6 aoch breach most be curcd; s� (4) t6at fatlurc to carc such br+each on or beforc t6e date speci8ed in the notFce � -3 ' �
<br /> ,+� may cesult (n accelerstlon of the sums securcd 6y this Mortgaqe, foreclosuee by judtcial proceeding and sale of the Property_ ; � .
<br /> e� The notice s6a11 turt6er lnform Borrower of t6e rlght lo rcinstafe after accelerallon and tLe dght to assert ia the foreclosure ;
<br /> ` ptoceeding ffie non-ezbtence of a dehult or aSry other defense of Borrower ta accelereHon and foreclosune. If the breach � ,�
<br /> is not cared oa or beForc the date speciRed in the noticq Lender at Lendds option may declare a� of the sume securcd by + ' '"� :
<br /> thls Mortg�e W 6e [mmedtatety due and payable withoat furlher demand aod may foreclose by judicial proceedlog. I.eader �
<br /> - ; shall be eatitled to mHeM !n sac6 proceedi� alI acpemes of forectosnrc, inctuding, but not timited to, costs of docomentary
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<br /> evldeace, abstracta and tltle rcporta.
<br /> 19. 'BocroveAs Rlght to Reinstat� Notwithstanding Lender's acceieration of the sums secured by this Mortgage,
<br /> 'i;� Borrawer shalt have the right to have any proceedings began by Lender to enforce this Mortgage discontinued at any time
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