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<br /> �8-a� U3025
<br /> Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pYovided 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 tecros of payment, such
<br /> amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shail bear interest from the
<br /> : r date of disbursement at the rate payable from time to time on outstanding principal under the Note uniess payment of
<br /> interest at auch rate would be contrary to applicable law, in which event such amounts shatl 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 hereunder.
<br /> 8. 7nepecHon. Lender may make or cause to be made reasonable entries 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. Condemnatlon. 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 /> 7n 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 Borrowec In the event of a partial taking of the Property, uniess Borrower and I.ender ��
<br /> otherwise agree in writing, there shalt be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is equal [o that proportion which the amount of the sams 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 batance of the proceeds
<br /> paid to Borrower.
<br /> If the Properry is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br /> an award or setNe a ctaim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> mailed, L.ender 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 Mortgnge.
<br /> � Unless Lender and Horrower otherwise 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. Bortower Not Relessed. 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 shaU 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 commmce
<br /> proceedings against such successor or refuse to extend time for payme�t or otherwise modify amortization of the suma
<br /> ; secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest. �
<br /> ', � 1l. Forbearnnce 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 paymen[ of taxes or other Iiens 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.
<br /> ]2. Remedles Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> remedy under this Martgagc or afforded by law or equity, and may be exercised concurrently, independen[ly or successively.
<br /> 13. Snccessors and AsatRns Bound; Joint and Several i.iability; CapNons. The covenants and agreements herein
<br /> r contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lmder 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 /> ; interpre[ 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 /> ' Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borcower at
<br /> „ the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br /> � (b) any notice to Lender shall be given by certified mail, return receipt requested. to Lender's add�ess stated herein or to
<br /> � such other address as Lender may designate by notice to Borrower as provided herein. Any noticc provided for in this
<br /> � Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 15. LTnlform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br /> � use and non-uniform covenan[s with limited variations by jurisdiction to constimte a uniform security instrument covering
<br /> ; r+eal properiy. This Mortgage shall be governed by the law of the jurisdiction in which the Property is Iocated. 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 /> � 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. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> � of execution or after recdrdation hereof.
<br /> ! 17. Transfer of the Propecty; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br /> i by Borrower without Lender's prior writren consent, excluding (a) the creation 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 /> P � 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 iess
<br />;� � oot containing an option to purohase, Lender may, a[ Lender's option, declare all the sums secured by this Mortgage to be
<br /> j immedia[ely due and payabla Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br /> t � and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such pecson
<br /> F. ! is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as I.ender
<br />; 3 shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in
<br /> iaterest has executed a written azsumption agreement accepted in writing by Lender, Lender shatl release Borrower from atl
<br /> obligations under this Mongage and the Note.
<br /> If Lender exercises such option to accelerete, Lender shall mail Borrower notice of acceleration in accordance with
<br />; � paragraph 14 hettof. 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 Bonower fails to 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 />;'' � NoN-U�utFoxM Coveivet�r7s. Borrower and Lender further covenant and agree as follows:
<br /> 18. Acceleration; Remedles. Fsttpt as provlded In parsgnph 17 hereof, upon BorrowePs 6reach of any covenant or
<br /> i agmment oE Borrower in t6is MoAgage, ➢ncluding the covenants to pay when due any sums secured by this Mortgage,
<br /> E`;� Lender prtor to accekrrtion s6a11 ma7 notice to Borrower as provided in paragnph 14 hereof specifying: (1) the brcach;
<br />:, � (2) t6raction rcqnlred to curo snch bresch; (3) a dste, not less than 30 days from the date the notice is matled to Bovower, • -
<br /> { by whic6 soc6 beeach mvst be cured; and (4) Iha[ failurc to cure such breac4 oa or before tbe date specl8ed in the aoUce
<br /> m;y result in accderaUoa oE t6e sums secured by this MortgaRe, foreclosurc by judidal proceedi� and sale of tbe Property. I
<br /> � The notice sha11 further Inform Borrower of t6e rtght fo rclnstate after accelentSon and the right to assert in the forcclosure
<br /> praceeding the noo-e�atence ot a defaull or any other defense of Borrower to accderotlon and foreclosure. If the breach
<br /> ts•aot cored oq or beforc t6e date speclRed lu the noHce, Lender at LendePs option may dectare all of the sums secured by
<br />.,,, �.�. . � t6is Mortga�eYo be Immediately doe aod payable without furlher demand and may forcclase by judlcial proceedi�. Lender
<br />, , shall 6e entitled to co11eM in aoch proceeding all expenses of foreclosurc, induding, but not limlted to, casts of docamenmry
<br />- �� � � � evldence, abstncls and tltle nporfs.
<br /> . ; . . . 19. Boreowd's Ri�ht to Rdmtate. Natwithstanding L.ender's acceleration of the sums secured by this Mortgage.
<br /> Bonower shall have the right to have any proceedings begun by Lender to rnforce ihis Mortgage discontinued at any time
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