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<br /> 78- t_► 02941
<br /> � Lender's written agrecmeat or applicable law. Borrower shall pay the amount of all mortgagc insurance premiums in the
<br /> manner pfovided under paragraph 2 hereof.
<br /> Aay amounts disbursed by Lender 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 /> amounts shall Ix payabie upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> �i dau 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 /> permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any e�cpense or take
<br /> 'r any action hereunder.
<br /> , j 8. Ioapection. Lender may make or cause to be made reasonable envies 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 /> ? 9. Condemnatton. The proceeds of any award or claim for damages, direct or consequen[ial, in conneetion 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 Lenden
<br /> 1n the event of a total taking of the Prope�ry, the proceeds shall be applied to the sums seciired by this Mortgage.
<br /> j with the excess, if any, paid to Borrowec In the event of a partial taking of the Property. unless Borrower and I.ender
<br /> 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 rhis Mortgage emmed'eately prior to the dafe 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 /> paid to Borrowec
<br /> r If the Property is abandoned by Borrower, or if, after notice by I.ender to Borrower 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 authoriud 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 othenvise agree in writing, any such application of proceeds to principal shall not extend
<br /> or postpone ihe due date of the monthly instatlments referred to in paragraphs I and 2 hereof or change the amount of
<br /> � such installments.
<br /> 10. Bortower 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 liabiliry of the original Borrower and BorrowePs successors in inrerest. Lender shall not be rcquired to commence
<br /> ; proeeedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br /> secured by this Mortgage by reuson of any demand made by the original Borrower and Borrowers successors in interest.
<br /> 11. Forbearanee 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 predude 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 /> i right to accelerate the maturity of the indebtedness secured by this Mortgaga
<br /> `t 12. Remediea CnmulaHve. All remedies provided in this Mortgage are distinct and cumulativc to any other right or
<br /> � ' ` remedy under this Mortgage or afforded by law or equiry, and may be exercised concurrently, independently or successively. � � � � . � "� ,�-�� �
<br /> � 13. Successoes and Assigns Bound; Joint and Several [.iability; CapUous. The covenants and agreements hercm
<br /> t contained shall bind, and the righu hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br /> subject to [he provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br /> s The captions and headings of the paragraphs of this Mongage are for convenience only and are not to be used to
<br /> i 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 notice to
<br /> ' Sorrower provided fo� in this Mortgage shall be given by mailing such noticc by certiRed mail addressed to Borcower at
<br /> � the Property Addrcss or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br /> 3 (b) any notice ro Lender shall be given by certi6ed mail, retum reccipt requested, to Lender's address stated herein or to
<br /> { such other address as Lender may designate by notice to Horrower as provided hercin. Any notice provided for in this
<br /> SMortgage shall be deemed to have been given to Borrower or i_ender when given in the manner designated herein.
<br /> 15. Uniform Mortgage; Governing Law; Severabllity. This form of mortgage combines uniform covenants for national �;, ;,R
<br /> j use and non-uniForm covenants with limited variations by jurisdiction to constitute a uniform security insWrnent 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 conftict shult 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 ehe Mortgage and the Note are declared to be severable.
<br /> � 16. Bo�rower's Copy. Borrower shatl be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> � of execution or after recrordation hereof.
<br /> ; 17. Traasfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferrcd
<br /> by Borrower without L.ender's prior written consent, excluding (a) the creation of a lien or mcumbcance subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
<br /> deseent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehotd intercst of thrce years or less
<br /> ! not containing an option to purchase. Lender may, at Lender's option, dectare atl 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. I.ender
<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 interest payable on the sums secured 6y 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 Borrower s successor in
<br /> � interat has executed a writtm assumption agreement accepted in writing by Lender. Lender shall release Borcower from all
<br /> obligations under this Mortgage and the Note.
<br /> S 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 less than 30 days from the date the notice is mailed within
<br /> ; which Borrower may pay the sums declared due. If Borrower fails io 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 1 S hereof.
<br /> Nox-UxtroxM CoveNerrrs. Borrower and Lender further covenant and agree as follows:
<br /> ��� � 18. Accderatlon; Remedles. Except as provided In psra�reph 1� hereof, upon Borrower's breach of any covenant or . . . �
<br /> agreement of Borrower in thiv Mortgsgq Including the covenants to pay when due any sums securcd by this Mortgage, . x .
<br /> ' � Lrnder pdor to accekraHoo ehall mail noNce to Borrower as provided in paragnph 14 hereof specifying: (1) the brcacb;
<br /> � (2) t6e actton rcquired to cnx auch breach; (3) a dste, not less than 30 days from the date the notice is matted lo Borrower, -�
<br /> by w6ich soch breach mmt 6e cared; and (4) t6at failure to cure such 6reach ou or beforc the date speciRed in the no8ce �
<br /> a may resolt ia acceleratlon of tde su�ns secnred by this Morlgaqe, toreclosure by jodicisl procceding aod sWe of the Property. '� �
<br /> . ']. � � . T6e notice sBall �[urt6er inform Borrower of the righf to reinstate a(ter acceleration and the right to atsert in tLe forcclosurc � � � � �".
<br /> L proceedioY t6e nontxistence of a detaulk or any ot6er defense of Borrower to accderatfon and forectosure. If the breach
<br /> r b not cared on or 6efore t6e date speci8ed 1n the noNce, Leoder at Lender's optlon may declare all of the sums secured by
<br /> ' ' � this Mortgage to be immediatdy due and payable without further demand and may foreclose by judicisl proceedlug. I.ender =�
<br /> ; , ; ah�l be eot[tled to collect in snch proceeding all acperoes of forcctosure, iacluding, but not lim(ted to, costs of documeotsry ' '�� �
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<br /> ': evtdence, abstracls and tltk reports. , _1 ;
<br /> 19. Borrow�s Risht to Reimtata Notwithstanding Leeder's acceleration of the sums secured by this Mortgage, +
<br /> Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any timc
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