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<br /> �g._ U03052 �
<br /> Lender's written agreemrnt or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner pYovided under paragraph 2 henof.
<br /> Any amounb disburaed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> indebtednus of Borrower securcd by this MoRgage. Unless Borrower and Lender agree to other terms of payment, such
<br /> amounts shall be payable upon notice from Lender ro Borrowcr requesting payment thereof, and shall bear interest from the
<br /> f date of disburument at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> 1 interest at such rate wwld be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> permiuible under applicable law. Nothing contained in this paragraph 7 sha11 require Lender to incur any expense or take '
<br /> any action henuader.
<br /> S. iatpectlon. Lender may make or cause to be made reasonabie entries upon and inspections of the Property, provided
<br /> that I.ender shall give Borrower notice prior to any such inspection specifying reasonabte cause therefor related to Lender•s
<br /> interest in the Property.
<br /> 9. CondemnaHon. 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 thercof, 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 Properry, the proceeds shall be apptied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Horrower. in the event of a partial taking of the Property, unless Borrower and Lender
<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 this Mortgage immediately prior to the date of
<br /> taking bears to the fair market vaiue of che Property immediatety prior to the date of taking, with the balance of the proceeds
<br /> paid to Bottower.
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borcower that the condemnor oBera to make
<br /> an award or set8e 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 collec[ and apply the proceeds, at Lender's option, either to restoration or repair of the
<br /> Property or to the sums secured 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 referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> ' such instaltments.
<br /> 10. Borrower Not Releesed. Extension of the time for payment or modification of amortization of thc 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 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 Borcower's successors in interesL � � � . � �
<br /> 11. Forbeannce by Lender Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br /> otherwise afforded by applicable law, shnll 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 liens 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 /> 12. Remedies CnmolsNve. All remedies provided in this Mongage are distinct and cumulative to any other right or
<br /> remedy under this Mortgage or afforded by law or equity, and may be exercised concarrently, independendy or successively.
<br /> ' 13. Successors and Aseigns Bound; Joint and Several Liab7ity; Captions. The covenants and agreemenss herein
<br /> ' contained shal! bind, and the rights hereunder shall inure to, the respective successon and assigns of Lender and Borrower,
<br /> ; subject to the provisions of paragraph 17 hereof. AII covenants and agreements of Borrower shall be joiat and severaL
<br /> � "Ihe captions and headings of the paragraphs of this Mortgage are for convenience only and arc not to be used to
<br /> 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 /> ; Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addrcssed to Borrower at
<br /> a 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, retum receipt requested, to Lender's address stated herein or to `'�
<br /> j such other addrcss as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this "_
<br /> Mortgage shail be deemed to havc been given to Borrower or Lender when given in the manner designated herein.
<br /> f15. Uniform MoRgagr, Goveming Law; Severnbility. This form of mortgage combines uniform covenants for national
<br /> , use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform securi[y instrument covering
<br /> t nal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> J evrnt that any provision or clause of this Mortgage or the Note conflicts with applicable Iaw, such conflict shall not affect
<br /> � offier provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br /> j 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 recordation hereof.
<br /> � 17. Transfer of the Propecty; AssampHon. If all or any part of the Property or an interest therein is sold or transferred
<br /> j by Borrower without Lender's prior written consent, excluding (a) the creatioo of a lien or encumbrafice subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by deviae,
<br /> ducent 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 all the sums secured by this Mortgage to be
<br /> immediately due and payabla 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 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 by this Mortgage shall be at such rate as L.ender
<br /> ; shall request. If Lmder has waived the option to accelerate provided in this paragraph 17, and if Borrower's succasor in
<br /> l interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Bonower from all
<br /> " 1 obligations under this Mortgage and the Note.
<br /> > � If Lender exercises such option to accelerate, Lender shall mail Borrower notice of accderation in accordance with
<br /> � paragraph 14 hercof. 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 ro pay such sums prior to the expiration of such period,
<br /> ' j Lender may, without further notice or demand on Borrower, invoke any remediu permitted by paragraph I8 hereof.
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<br /> i Nox-UdrFon�f CoveNwNrs. Borrower and Lender further covenant and agree as follows:
<br /> 18. AcceleraHon; Remedies. Eacept as provided in pncegraph 17 hereof, upon Borrowcr's 6reach of any covenant or
<br /> ! agreement of Borrower in thia Mortgagq includi� the covenants to pay when doe any sums securcd by t6ia Morlgagq
<br /> j Lender prior to accekradon sha11 mall notice to Borrower as provided in paragnph 14 hercof apeclfyiog: (1) the 6reac6; �
<br /> � (2) t6e action rcqnired to cnrc sach breach; (3) a date, not leee than 30 dsys from tbe date the notice is mdled to Borrower, �
<br /> ; � by whlch aach beeach mmt be cured; and (4) that failun to curc suc6 breach oa or before the date specl6ed in the notlm �.___.- - - 1
<br /> . � m�y result in accelendoa ot t6e sums securcd 6y this Mortgage, (oreclosurc by judicinl proceed(ng and sale of t6e Property_ t , .
<br /> } � The nodce sball fart6er inlocm Borro�ver of t6e rtght to rolastate after scnteration and the right to assert In the forcclosure 1� '
<br /> proceediug the nont�cietence ot r dehult or any ot6er deEerae of Borrower to acceleradon and forcclosurc. If the brcach h �
<br /> � Is nof cu`ed on or 6efore the date apeci6ed (p the oo8ce, Lender at Lender'a option may declare all o[ the sams xcured 6y
<br /> � Ads Mortga�e fo be Immed(atdy dae and paya6le withoat furthcr demsnd and may foreclose by judlcial proceeding. I.ender y: .:�
<br /> � aba116e wtMled to collect io such proceedi� sll expensea of fareclosurc, includl�, but not Hmhed to, costs of docamenhry � ;�-' '+
<br /> '- evldence, abstracta and title reporls. '
<br /> i 19. ' Borrower's Ri`ht to Reinstatu Notwithstanding Lender s acceleration of the sums ucurcd by this Mortgage. . ,;� � `
<br /> ' ; Borcowei shall have Ufe tlght to have any proceedings begun by Lender to enforce this Mongage discontinued at any time
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