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<br /> I,ender's written agrcement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> mann�r pfovided under paragraph 2 hercof.
<br /> � Any amounts disbuned by Lender pursuant to thia paragraph 7, with interest thereon, shali become additional
<br /> V indebtedness of Borcower securcd by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such �
<br /> { amounts shall be payable upon notice from Lender to Bocrower requesting payment thereof, and shali bear interest from the
<br /> � date of disbucxment at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> interest st 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 expense or take
<br /> any action hercunder.
<br /> 8. �nspection. Lender may make or cause to be made reasonable entries upon and iaspections 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. CondemnaHon. 'The procuds of aoy award or claim for damages, direct or consequential, in connection with any
<br /> ; � wndemnation or other taking of the Propercy, 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 Borcower. In the event of a partial taking of the Property, unless Borrower and Lender
<br /> ; � othrrwise agree in writing, ihere shall be applied ro the sums secured by this Mortgage snch proporcion 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 /> 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 Horrowec
<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 daim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> � mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or npair of the
<br /> : � Property or ro the sums secured by this Mongage.
<br /> � Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shail 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 Rdessed. Extension of the time for payment or modification of amortization of the sums secured
<br /> by this Mortgage granted by L,ender to any successor in interest of Borrower shall not operate 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 /> � 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 /> � 11. Forbearance by Lender Not a Wsiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> 3 othenvise afforded by applicable law, shatl 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 tiens or charges by Lender shall not be a waiver of LendePs
<br /> � right to accelerate the maturity of the indebtedneu secured by this Mortgage.
<br /> � 12. Remedtes Camutative. 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 equity. and may be exercised concurrenUy, independen8y or successively.
<br /> j 13. Successors and Asigns Bound; Joint aad Several Gis6�ify; CapHoas. The covenants and agreements herein
<br /> , con[ained 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 /> y14. 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 mail addressed to Borrower at � '"
<br /> 3 the Property Address 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 certified mail, retum receipt requested. ro Lender's address stated herein or to
<br /> � such other address as Lender may designate by notice ro Borrower as provided herein. Any notice provided for in this
<br /> �' Mortgage shall be deemed to have been given to Borrower or i.ender when given in the manner designated herein.
<br /> � 15. Uniform Mortgage; Goveming Law; geverabtlity. This form of mortgage combina uniform covenants for national
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<br /> g� use and non-uniform covenants with limited variations by jurisdiction to constimte a unifortn security instrument covering
<br /> s' neal property. This Mortgage shall be governed by the Iaw of the jurisdiction in which the Property is located. In the
<br /> � event that any provision or clause of this Mortgage or the Nore conflicts with applicable law, such conflict shall not affect
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> ,; md the provisions of the Mortgage and the Notc aro dedared ro be severable.
<br /> � 16. Borrower's Copy; Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of execution or afrer recordation hereof.
<br /> j: 17. Tnnsfer of t6e Property; A�umption. If all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior written conunt, excluding (a) the creation of a lien or encumbrance 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 thrce years or less
<br /> not containing an option to purchase. 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 to whom the Property is to be sold or transfersed reach agreement in writing that the credit of such peison
<br /> is satisfactory to Lender and that the interest payable on the sums secured by this Mongage shall be at such rate as Lender
<br /> shall request. If Lender has waived the option to accelerate provided in this paragraph ] 7, and if Borrower's successor in
<br /> interest has ezecuced a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br /> obligations under this Mortgage and ffie 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 shall provide a period of not tess than 30 days from the date the notice is mailed within
<br /> ; which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the ezpitation of such period,
<br /> Lender may, without further notice or demand on Borroweq invoke any remedies permitted by paragraph 18 hereof.
<br /> Noiv-Uxiroxwf Cover�wivrs. Borrower and Lender further covenant and agree as followr.
<br /> 18. Accderatlon; Remedles. Escept as provtded In paragroph 1'7 hereof, upon Borrower's breach of any cavenant or
<br /> ment oE Borrower in t6(s Mo }
<br /> ; ag+ee rfgagq (ndudi� the covenants to pay when due any sums secuced by this MorlgaRe,
<br /> Lender pdor to acceleraUon ahall mail noHce to Borrower as provided in paragnph 14 hereof specifying: (1) tLe breac6; „�:r- -�
<br /> i (2) t6e acUon reqoLed W care snch breach; (3) a date, not Iras than 30 dsys from the date the noNce is mailed to Borrower, v
<br /> r , by wWch sacA breach muet be corcd; and (4) that Eailure to cure such breach on or before the date specifled in the nofice ' 'd
<br /> k may resolt In accekntlon of the so� aecnrcd by this Mortgage, foreclosuro by judictel proceeding aod sale of tbe Propecty. � + ;
<br /> � The aotjce ahall larther lntorm Borrower o[ the rlght to ceinstate aftv acceleration and tbe right to nssert in t6e foredosun ' �
<br /> ; pcoceeding fhe non-exbtence of a defautt or apq other defense oE Borrower to acceleration and foreclosarc. ff the breach � ;; .
<br /> ' b not cared on or betore the date sped8ed in the notice, Lender at Lender's optton may declare a0 of the sums aecured by "*F
<br /> � t6i� Mo�sge to be Immedlately doe and payable without furfher demand aod may loreclose by judtclal proceediug. I.ender ' .. "�
<br /> ' shall be mtltled to collect In such proceeding all expeoses of foreclosure, induding, but not limited to, costs of documentary ° , - �+
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<br /> . . . evidenar, a6atracts and tlIk reporls. - � .. _.
<br /> 19. . BorrowePs Rt�ht to Rdnstata Notwithsianding Lender's acceleration o[ the sums secured by this Mortgage,
<br /> Horrower shall have th� rigdt to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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