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<br /> � 8- t� Ct2 �t 91
<br /> I.ender's written agreemeat or applicable law. Horrower shall pay the amount of all mortgage insurance premiums in the
<br /> y manner ptovided under paragraph 2 hereof.
<br /> ? Any amounta disbursed by Lender pursuant to thia paragraph 7, with interest thereon, shall become additional
<br /> � indebtedneas of Borrower secured by this Mortgage. Unless Borrower and Lender agrce to other terms of payment, sucb �
<br /> amounts ahall be payable upon notice from Lender to Horrower requesting payment thereof, and shaU bear interest from the -
<br /> date of disbursement at the rete a able from time to time on outstan8in "
<br /> P Y g principal under the Note unless payment of
<br /> f interest at auch rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> � permisai'ble under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expenx or take
<br /> any action hercunder.
<br /> ; 8. Inspectiom Lender may make or cause ro be made reasonable entries upon nnd 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. CoodemnaHon. 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 shall be paid to Lender.
<br /> In the event of a total tnking of the Property, the proceeds shall be applied to the sums secured by this Mortgaga
<br /> with the excess, if any, paid to Borrowec In the event of a partial taking of the Property, imless Borrower and Lender
<br /> iotherwise agree in writing, there shall be applied to the sums secured by this Morigage sucb proportinn nf tbe proceeds '
<br /> as is equal to that proportion which the amount of the sums secured by this Mortgage immediattly 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 /> g paid to Borrower. !
<br /> i If the Property is abandoned by Borrowec, or if, after notice by Lender to Bonower that the condemnor offers 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 authorized ro collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> ttt Property or to the sums secured by this Mortgaga
<br /> � Unleas Lender and Borrower othenvise 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 Releesed. 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 operam to release, in any manner. �
<br /> { the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br /> i proceedings against such successor or refuse to extend time for payment or othenvise 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 /> j li. For6earance 6y Lender Not a Waiver. Any forbearance by Lender in exercising any right or nmedy hemunder, or
<br /> � otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy_ '
<br /> 7'he procurement of insurance or the payment of tazes or other liens or charges by Lender shall not be a waiver of Lender's
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage. r , ,;
<br /> , � 12. Remedies Camulative. A71 remedies provided in this Mortgage are distinct and cumulative to any other right or "
<br /> rcmedy under this Mortgage or aRorded by law or equity, and may be exercised concurrently, independenNy or successively.
<br /> 13. Successocs and Assigns Bound; Joint and Several i.iabllity; Captlons. The covenants and agreements hercin r
<br /> contained shall bind, and the rights hereunder shall inuro to, the mspective successors and assigns of Lender and Horroweq
<br /> subject to the provisions of paragraph 17 hereof. AII 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 nnd are not to be used to
<br /> interpret or deRne the provisions hereof.
<br /> 14. 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 certified mai! addressed te Borrower at
<br /> the Property Addrcss or at such other address as Borrower may designate by notice to Lender as provided herein, and �
<br /> (b) any notice ro Lender shall be given by cenified 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 hercin. Any notice provided for in this
<br /> Mortgage shalt be deemed to haKe been givrn to Borrower or Lender when given in the manner designated herein. �
<br /> I5. Untform Mortgagr, Governing Law; Severn6ility. 7'his form of mortgage combines uniform covenants for national ' �
<br /> nse and non-uniform covenants with limited variations by jurisdiction to constimte a uniform security instrumrnt covering
<br /> real property. This Mortgage shall be governed by the taw of the jurisdiction in which the Property is locnted. In the
<br /> event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shalt not affect
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> end the provisions of the Mortgage and the Note are declared to be severable.
<br /> � 16. Borrower's Copy. Borsower 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. Traasfer of t6e Propecty; Aasumption. If all or any part of the Propefty or an interest therein is sold or transfernd
<br /> by Borrower without L.endec's prior written consent, excluding (a) the emation of a lien or encumbrahce subordinate to
<br /> � this Mortgage. (b) the creation 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 purchase, Lender may, at Lender's option, declare all the sums secured by this MoRgage to be
<br /> � immediately due and payable. Lender shafl have waived such option to accelecate if, prior to the sale or tranafer, Lender ;
<br /> and the peraon 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 interest payable on the sums secured by this MoRgage shall be at such rate as I.ender
<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 executed a writtrn assumption agrcement accepted in writing by Lender, Lender shall release Borrower from all
<br /> � obligations under this Mortgage and the Note.
<br /> If I.ender exercises such option to accelerate, Lender shalt mai( Borrower notice of acceleration in accordance with
<br /> paragraph 14 hereof. Such notice slaall provide a period of not ]ess than 30 days from the date the notice is maled within
<br /> � which Borrower may pay the sums declared due. If Boaower fails ro pay such sums prio� 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-Ut+tPoxt.t Covraveivrs. Borrower and Lender further covenant and agree as follows:
<br /> 18. Accderatloa; Remedles. Facept av provided In paragraph 17 hereof, upon Borcower's brcach of any covenaat or
<br /> agreemmt of Borrower In thie Mortgage, indadl� t6e covenaots to pay when dae any sums securcd by t6is Mo e, �
<br /> ' Lender prior to accekratlon a6W1 mall noNce to Borrower as provided in paragraph 14 6ereof specifyfag: (1) the brea h; �
<br /> =r (� the action reqalred to core me6 brea¢h; (3) a dste, not lees tlwn 30 days from tbe date t6e notice is msi�ed to Borrower, •—"
<br /> f, by wLic6 aoch 'brwch mast be eure� aod (4) t6at failure to curc such breach ou or 6cforc t6e date speci6ed in the iw8ce �`
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<br /> may result Io aecdera8on of We aums aecared by thLs Mortgage, foreclosure by judtcial proceediog and sale of the Property. � : '� �
<br /> The notice'a6aU fatther Intorm Borrower oE the rlght to reinstate aker accderation and the rlght to asse�t In the forectosurc ` ' � '
<br /> peoceedi� the non-eubfeuce of a de[adt or �ny other detense of Borrower to accderaHon and foreclosarc. IL the 6reach � ?� .'.
<br /> ie'not cmed o0 or 6efore t6e date speci9ed In t6e not(ce, Lender at Lender's optbn may dectare atl o[ the aums secured by
<br /> f6ieMoK�e to 6e tmmedietdy doe and payabk wlthout furlher demsnd aad may foreclase 6y jodlcial proceedi�. Lender �.-� � '
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<br /> shall be eutlGed to collect In sne6 proceedin� ari "e:peoaes of foreclosurc, includtng, but not limited tq coste of documentary '� ,, , �'� .�
<br /> � ,�. . . . -! .x =
<br /> 5 evidences abetraeb and dtle rcporfs.
<br /> � 19. Borcowels RigLt W Refastate. Notwithstanding Lender a acceleretion of the caims secured by this Mortgage,
<br /> � � Bocrowe; shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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