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<br /> L.ender's writ[en agroement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner ptovided 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 Bornower and Lender agree to other terms of payment, such �
<br /> ` amounts shall be payable upon notice from Lender to Borrower requestiog 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 event such amounts shall bear interest at the highest rate
<br /> j permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> ; ; any action hereunder.
<br /> � 8. Inspectlon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> that L.ender shall give Borrower notice prior to any such inspection specifying rensonable 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 consequentiai, 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 shall be paid to Lendec
<br /> in the event of a total taking of the Proper[y, the proceeds shatl be applied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borrower. In the event of a partial taking of the Properry, unless Borrower and Lender
<br /> : r otherwise agree in writing, there 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 /> ` 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 /> paid to Borrower.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor oBers to make
<br /> an award or settle a daim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> j mailed, Lender is authorized 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 shall not extend
<br /> or posipone 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 Rdeased. Extension of the time for payment or modification of amortization of the sums secured
<br /> by this Mortgage granted by Lrnder to any successor in interest of Borrower shall not operate ta release, in any manner,
<br /> [he liabiliry of the original Borrower and Bottower's successors in inrerest. 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 /> , 4 secured by this Mortgage by reason of any demand made by the original Borcower and BorrowePs successors in interest.
<br /> = 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, 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 LendePs
<br /> right to accelerate the maturity of thc indebtedness secured by this Mortgaga
<br /> ; 12. Remedies CumnlaHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> ? remedy under this Mortgage or afforded by law or equiry, and may be exercised concurrently, independentty or successively.
<br /> 13. Saccessors and Asatgns Bound; 7oiwt and Several i.iability; CapHons. The covenants and agreements herein
<br /> " � contaiaed 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 /> � The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> � interpret or define the provisions hereof.
<br /> 3 14. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to
<br /> ; ; Bonower provided for in this Mortgage shall be given by maiting such notice by certified mail addressed to Borrower at
<br /> r the Property Address or at such other address as Borrower may designate by no[ice to Lender as provided hercin, and
<br /> : i (b) any notice to L.ender 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 hav8 been given to Borrower or i_ender when given in the manner designated hereia -: �
<br /> : j 15. Uniform Mortgagr, Governtng Law; Severabllity. This form oP mortgage combines uniform covenants for national
<br /> s use and non-unifortn covenants with limited variations by jurisdiction to constitute a uniform security instrument covering :
<br /> i real property. "Il�is Martgage 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 conflict shall not affect
<br /> ' offier provisions of this Mortgage or the Note which can be given effect without the conflicting provision, a�d to this
<br /> : i md the provisions of �he Mortgage and the Note are declared to be severabla
<br /> ; 16. Borrowe�s Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or after recordation hereof.
<br /> - i 17. Transfer of tbe Property; AssumpNon. If all or any part of the Property or an interest therein is sold or transferred
<br /> I by Bocrower without Lender's prior written consent, ezcluding (a) the creation of a lien or encumbrance subordinate to
<br /> ' 's this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
<br /> 1 . descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interat of three years or less
<br /> ' ; not containing an option to purchase, Lender may, at Lender's option. declare all the sums secured by this MoRgage to be
<br /> 3 immediately due and payable. Lender shall have waived such option ro accekrate if, prior to the sale or transfer. Lender
<br /> ' � and the person to 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 iaterest payable on the sums secured by this Mortgage shall be at svch rate as Lmder
<br /> ` sha11 request. If Lmder has waived the option to accdcrate provided in this parugraph 17, and if Borrowers successor in
<br /> � interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br /> � obligations under this Mortgage and the Nota
<br /> IE Lender exercises suc6 option to accelerate. Lender shall mail Borrower notice of acceleration in accordance wiLti
<br /> � paragraph ]4 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is maz"led within
<br /> ' .1 wfiich Borrower may pay the sums declared due. if Borrower fails to pay such sums prior to the expiration of such period.
<br /> , ; Lender may, without fur[her notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br /> < i Notv-UxrFoxM CoveiveN�rs. Borrower and Lrnder further covenant and agrce as follows:
<br /> } 18. ' Accelerallon; Remedlw. Faccept as provided in paragroph 17 hereof, upon Borrower's 6rcach of any covenant or �
<br /> � :� agreement o[ Borrower in this Mortqage, includi� t6e covemnts to pay when due any sums securcd by t6is Mortgage, ` -
<br /> � Lender pdor to accekration shall mail notice to Borrower as provlded in paragnph 14 hercof specifying: (1) the breach; ^-� �
<br /> i (2) t6e action reqoired to curc auch breach; (3) a dste, not les4 than 30 days from the date the noHce Is malled to Borrower, r,,
<br /> �� by which sach breach must be coRd; snd (4) tdat failurc to cnre such breach oa or before the date specified in the notice . x �
<br /> may resnit in acceleraUon of t6e aams secured by thia Mortgage, foreclosure 6y jadicial proceedin�g and sale of the Property. �
<br /> � T6e notice s6a11 tuRher i�dorm Borrower of the rlght 10 relnstate aHer acceleration and t6e dght to assert In the foreclosurc 4,
<br /> t proceed(ng /4e non-exlstence of a default or Any other defense of Borrower fo acceleratio� and foreclosare. If the breach �
<br /> � is not cnred on or beforc the date spectBed In the noticq [.ender at Lender's option may declare all of tbe sums secured by :�, �
<br /> tlds Morl�e to bc lmmediately dne �nd payable withoot forlher dems� and may foreclose by jndlcisl pnoceediog. Lender � `
<br /> ^ )' s6all be eoNHed to collect in cuch proceedi� atl expe�es of foreclosure, indudl�q, but not Ilmlted to, costs of documentsry . � - '�'"
<br /> evWence, abetncls w�d Ntle rcpo�b.
<br /> - ;` Y9. Borrowe�'s Ri�ht to Reiaslate. Notwithstaading Lender's acceleration of the sums secured by this Mortgage.
<br /> � BOirowe[. shall lfave the tigllt to haveany proceedings begun by Lender to enforce this Mortgage discontinued at any time
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