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<br /> Zg� � � U3023
<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 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 /> j amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br /> 1 date of disbursement at the ratc payable from time to time on outstanding principal under the Note unless payment of
<br /> � interest at such rate would be contrary ro applicable law, in which event such amounts shall bear interest at thc highest rate `'
<br /> permiuible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> any action hereundec
<br /> 8. inspecNon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br /> that I.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> interest in the Property.
<br /> ' 9. Coademnallon. The proceeds of any award or claim for damages, direct or consequcntial, in connection with any
<br /> ; condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hercby assigned
<br /> and shall be paid to Lenden
<br /> iIn 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 Borrower_ In the event of a partial taking of the Property, unless Borrowcr and Lender
<br /> otherwise agree in writing, there shall be applied eo the sums secured by this Mortgage such proponion of the proceeds
<br /> as is equa} to that proportion which the arnoun[ of iRe sums secured by tAis Mortgage immediately prior ro tfie 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 Borrower.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor o(fera to make
<br /> i an award or settle a claim for damagu, 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 rcpair of the
<br /> Property or to the sums secured by this Mortgage.
<br /> Unless Lender and Sorrower otherwix agree in writing, any such application of proceeds to principal shall not extend
<br /> ' � or postpone the due date of the monthly installments referrcd to in paragraphs t and 2 hereof or change the amount of
<br /> + such insta[lments.
<br /> ! 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br /> 1 by this Mortgage granted by Lender to any successor in interest of Borrower shall not operare ro rdease. in any manner.
<br /> t the liabiliry of the original Borcower 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 otherwise modify amortization of the sums
<br /> ; secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
<br /> ' 4 11. For6earance by L.ender Not a Waiver. Any forbearance by Lender in cxercising any right or remedy hemunder, or
<br /> � otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any svch 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 /> � right to accelcrate the maturity of the indebiedneu secured by this Mortgage.
<br /> : : .. . . . �� � o�t�::a �..—��2:r- �
<br /> , �. .�.L' ;ai:ieuios provided in inis iviottgage are distinct and cumulative to any other right or
<br /> remedy under this Mortgage or afforded by law or equity_ and may be exercised concurrently, independently or successively.
<br /> ; � 13. Saccessors and Assigns Bound; Joint and Several I.iab7ity; Captions. The covenants and agreemenis herein
<br /> contained shall bind, and the rights hereunder shnll inure to, the respective successors and assigns of Lender and Borrower.
<br /> ! subject to the provisions of paragraph 17 hereof. AII covenants and agreements of Borrower shalt be joint and severaL
<br /> k The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br /> interpn[ or define the provisions heroof.
<br /> � 14. Notjce. Except for any notice required under applicable law to be given in another manner. (a) any notice to
<br /> Borrawer provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br /> ; 1 the Properry Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br /> q (b) any notice to Lender shall be given by certified mail, retum receipt requested. to LendePs address statcd herein or to
<br /> " i such other address as Lender may designate by notice to Borrower as pravided herein. Any notice provided for in this
<br /> :i Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> � 15. Unlform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for nationat
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform securiry instrument covering
<br /> % ttal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is locatcd. In the
<br /> � event that any provision or clause of this Mongage or the Note conflicts with applicable law, such conflict shall not affect
<br /> ' other rovisions of this Mort a e or the Notc which can be
<br /> j P 8 8 given effect without the conflicting provision, and to thia
<br /> end the provisions of the Mortgage and the Note are declared to be severable.
<br /> j 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 after recopdation hereof.
<br /> � 17. Transfer of the Property; .4s�umption. If alI or any part of the Property or an interest therein is sold or transferred
<br /> , y 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 interest for household appliances, (c) a transfer by devise,
<br /> . j descent or by operation of law upon the death of a joint tenant or (d) the grant of any Ieaxhold interest of thrce years or less
<br />� ; , not containing an option to purchase, Lender may, at Lender's option, declare aIl the sums secured by this Mortgage to be
<br /> r immediately due and payable. Lender shall have waivcd such option to accelerate if, prior to the sale or vansfer, Lender
<br />�; � and the person to whom the Propeny is to be sold or transferred reach agreement in writing that the credit of such person
<br />� ! is satisfactory to I.ender and that the interest payable on the sums secured by this Mortgage shall be at auch rate as Lender
<br />, � shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Bonower s successor in
<br />, � interest has esecuted a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br />` � obligations under this Mortgage and ffie Note.
<br /> p � If Lender exercises such option to accelerate, Lender shall mait Borrower notice of acceteration 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 withi�
<br /> � which Borrower may pay the sums declared due. If Borrower faits ro 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 18 hereof.
<br />' � NoH-Uxiponat CovexetvTs. Borrower and Lender further cavenant and agree as follows :
<br />; � 18. Aeceleration; Remediea Except as provlded In paraqraph 17 hereof, upon Borrower's breach of any covenant or
<br />�� a aQmment of Borrower in t63s Mortgage, Including the covenanLs to pay when due any sams secured by thls Mortgage, �
<br />;� Lender prlor to accekration s6a11 mail noNce to Borrower as provided In paraRraph 14 hereof apecffyi�g: (1) the breach;
<br /> (2) t6e aMlon +equired to cure soc6 breach; (3) a datq not lees than 30 days from the date the notice is mailed to Borrower,
<br /> t by wLich soch breac6 moet be cured; and (4) thnt fallure to cure such breach on or before tbe dafe specified in the no8ce '-
<br />- Y may eesult ia acceleraUov oE the anms Secured by thb Mortgaqe, foreclosure 6y judiclat proceeding aod sale of t6e Property.
<br />,� T6e notice s6a11 Earther tnforw Borrower of t6e rlgbt to reiasfate after accderation and ehe right to assert in t6e foreclosure f
<br /> proceedlug t6e iron-e�chtence of a defanll or any other defense of Borrower to acceleration snd foreclosure. if the breach J
<br />�� is not cnred oa or befo�e the date specifled in�the noNce, Lender at I,ender's optton may declare a11 of tbe sums secured by
<br /> tdls Morfgage to 6e immedlately dae and payable withoM furlher demand and may foreclose by jodlcial proceeding. Leader
<br /> a6all be entltled to collect In soc6 proceeding alt expeaues of forectosurc, including, bat not limlted to, costs of documeatary
<br /> evldeuces abstracte and tltle reporb.
<br /> { 39. Borrower's Right to Reimtata Notwithstanding Lender's acceteration of the sums securcd by this Mortgage.
<br /> � _ Borrower shall have tlfe right to have any proceedings begun by Lender to enforce this Mongage discontinued at any time
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