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<br /> 7 s--E� C13 0 51
<br /> Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance promiums in the
<br /> ' manner ptovided 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 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 Borrower requesting payment thereof, and shall bear interest from the
<br /> date of disburummt at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> interest at such rate would be wntrary to applicable law, in which event such amounts shatl bear interest at the highest rate
<br /> permissible undcr applicable Iaw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> any action hereunder.
<br /> 8. IoapecHon. Lender may make or cause to be made reasonabie 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. Condemnntlon. T'he 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 taking of the Properiy, the proceeds shatl 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 Borrower and Lender
<br /> otherwise agree in writing, there shail be appiied to the sums secumd by this Mortgage such proportion 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 Borrowea � . �
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower ffiat 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 to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> Property or to ihe sums sewred by this Mortgage.
<br /> ' Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br /> or postpone the due date of the monthly installments referrcd ro in paragraphs 1 and 2 hereof or change the amount of
<br /> such installmenu.
<br /> 10. Bonower Not Released. Extension of the time for payment or modification of amortization of the sums securcd
<br /> by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
<br /> the Iiabitity 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 aums
<br /> secured by this Mortgage by reason of any dema�d made by the original Borrower and Borrower s successors in interest_
<br /> ll. Forbearonce by Lender Not a Watver. 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 shalt not be a waiver of Lender's
<br /> right to accelerate the mamrity of the indebtedness secured by this Mortgage.
<br /> 12. Remedies ComulaHve. Alt 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, independently or successively_
<br /> 13. Saccessors and Assigns Bound; Joint and Several i.iability; CapHons. The covenants and agreements hcrein . � � . � � � . �
<br /> contained 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 arc not ro be used to
<br /> interpmt 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 Borrower 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 ro Lender shall be given by certified mai�, return receipt requuted. to LendePs 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 shall be dcemed ro have been given to Borrower or Lender when given in the manner designated hercin. 'y '
<br /> I5. Uniform Mortgagr, Governing Law; Sevenbility. This form of mortgage combines uniform covenanu for nationat . -
<br /> ? use and non-uniform covenants with limited variations hy jurisdiction to constitute a uniform security instrumrnt covering
<br /> ` real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. Tn the
<br /> ` evmt that any provision or dause of this Mortgage or the Note conflicts with applicabte 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 severabla
<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 recordation hereof.
<br /> l7. Transfer of the Property; Assumption. If aIl or any part of the Property or an interest thercin is sold or transferred
<br /> by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or rncumbrance subordinate to
<br /> ' this Mortgage, (b) the creation of a purchase money security inrerest for household appliances, (c) a transfer by deviae.
<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 nll 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, L.ender
<br /> �nd the person to whom the Property is to be so�d 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 ucured by thu Mortgage shall be at such rate as Lender
<br /> shail request. if Cender has waived the op[ion to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br /> obligations under this Mortgage and the Note.
<br /> If Lende� 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 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 /> Nox-UrnPoanr Covewwrrrs. Sorrower and Lmder further covenant and agrce as foltows:
<br /> 18. Accderatton; Remedlea Except as provided in paragraph 17 hereof, npon Borrower'e breach of any covenant or j
<br /> : agreement of Borrower in this MorfRage, inctadl�g the covenants to psy when doe any sums secured by this Mortgage, .�
<br /> Lender prlor lo accekration ahall mra notice to Borrower ss provided in paragraph 14 hercof specifying: (1) tbe breac6; - �*
<br /> ? (2) tLe aeUon requircd to caee snch 6rwc6; (3) a date, oot tess than 30 dnys from the date the notice is malled to Borrower, l �,�,;•
<br /> by w6ic6 wch breach mast be cured; and (4) that failurc to cure such breach o0 or 6efore t6e date specified in the no8ce
<br /> may reenit in acceleratlon ot the su� secured by this Mortgage, foreclosure by jndlcial proceeding and sale of tl�e Propecty. • �' �
<br /> T6e notice shall forther la[orm Borrower of�Ae right to reinstate after acceleratlon and the right to assert in the fomlosure �
<br /> proceedtug the non-e�cistence of s defanit or any other defense of Borrower to seceleration and foreclosnre. If the breach y ..2Y
<br /> is not enrcd on or beforc the date specitied In the notice, Lender at Lender's option may declare stl of the aums securcd by `:a" �
<br /> thh Mortgage to 6e immediately due and payabk without further demaad and may fomlose by jadicial proceediog. Lender
<br /> ... . ahall 6e endded to rnllect in �soeh proceedi�g sll expensn of foreclosure, includivg, bat aot limlted to, costs of docummtary � ..�w��' .
<br /> evidmce, abstracq and tltle reporla.
<br /> 19. Borrowee'a RiQht to Rdodale. Notwithstanding L.ender's accNeration of the sums secured by this MoRgage,
<br /> Borrower shall have the rlght to have any proceedings begun by Lender to enforce this Mongage discontinued at any time
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