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<br /> � Lender's written agreement or applicable Iaw. Borrower shall pay the amount of al! mortgage insurance premiums in the
<br /> t,,,i manner provided under paragraph 2 hereof.
<br /> Any amounts disburaed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> � M indebtednus of Horrower secured by this Mortgage. Unless Borrower and Lender agree to other terms oF payment, such
<br /> Cs � amounts shall be payable upon notice from Lender to Borrower rcquesting payment thereof, and shatl bear interest from the
<br /> date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br /> ; ' interest at auch rate would be wntrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> ' ; � permissibie under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br /> ^ any action herovnder.
<br /> S. Inspectioa. i,ender 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 reasonabie cause therefor related to LendePs
<br /> interest in the Property.
<br /> 9. Condemnation. 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 /> In the event of a total taking of the Propeny, the proceeds shail 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 /> otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br /> as is equaT to Ehat proportion which the amount of tfic sums secured by this Mortgage immediately prior ro the date of
<br /> taking bears to the fair market value of the Property immediate�y prior to the date of [aking, with the balance of the proceeds � . .
<br /> paid to Borrower.
<br /> i If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offen 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 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 /> ' j 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 Releaved. Eztension of the time for payment or modification of amortization of the sums secured
<br /> iby this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
<br /> � the tiabiliry 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 othenvise 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 R'siver. Any forbearance by Lender in exercising any right or remedy hereunder, or � � � �
<br /> i otherwise afforded by applicable law, shall not be a waiver of or predude the exercise of any such right or remedy. r
<br /> , � Thdproc�rement 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 CumnlaHve. All remedies provided in this Mortgage are disiinct and cumulative to any other right or
<br /> � remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently. independenUy or successively.
<br /> 13. Sacces4ors and Assigns Bound; Joint and Severnl Lia6ility; Captions. The covenants and agreements herein
<br /> � contained shall bind, and the rights hereunder shall inure to, the respective successors and auigns of Lender and Borrower.
<br /> � subject to the provisions of pazagraph 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 onty and are 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 -a
<br /> Borcower provided for in this Mortgage shatl 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 F:
<br /> i (b) any notice to Lender shall be given by certified mail, retum receipt requested. to Lender's address stated herein or to ', "
<br /> � such other address as Lender may designnte by notice to Borrower as provided herein. Any notice provided for in this '
<br /> Mortgage shall be deemed to have been given to Borrower or tender when given in the manner designated herein.
<br /> � 15. Uniform Mortgage; Governi�g Law; Sevenbility. This form of mortgage combines uniform covenants for national '*n '�
<br /> � use and non-uniform covenants with timirod variations by jurisdiction to constimte a uniform security instrument coveriag
<br /> ! real propeny. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the !
<br /> F 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 ro this
<br /> y end the provisions of the Mortgage and the Note are declared to be severable.
<br /> ; � 16. Bomower's Copy. Bortower 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 Prope�ty; Assumption. 1f 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, exduding (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 /> i descent or by operation of law upon the death of a joint tenant or (d) the grant of any Ieasehold 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 payable. Lender shall have waived such option 2o accelerate if, prior to the sale or transfer. Lrnder
<br /> , ; and the person to whom the Property is to be sold or transfermd rcach agreement in writing tha: the credit of such person
<br /> y is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> f shall request. If I.ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> j 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 /> 4 If Lender exercises such option to accNerate, 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 dare the notice is ma�'led within
<br /> ; j which Borrower may pay the sums declared due. 1f Boaower fails to pay such sums prior to the expiration of such period,
<br /> i Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
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<br /> ' I Notv-UxisontK Covewwxrs. Borrower and Lender further covenant and agrce as follows:
<br /> , i 18. Aeceleration; Remedies. FSccept as provided in paragnph 17 hereof, upon Borrower's brcach of any coveoaot or
<br /> ' rgmmeat oE Borrower in this Mortgoge, indudi� the cove�nts to pay when due any sums secured by tAis Mortgage, � ? � �
<br /> � Lender prlor to acttkraUon s6a11 mait no8ce to Borrower as provlded in paragraph 14 hercof specifying: (1) the breaeh;
<br /> , . i (2) the actlon nqulred to cun such breach; (3) a dstq aof leas than 30 days from t6e date the noBce b mailed to Borrower, �
<br /> by which suc6 b�each mmt 6e curcd; snd (4) that Fallure to care auch 6reach on or beforc the date speci8ed ia the �rotice ;� ,
<br /> msy rmult in accelenHon o[ the su� murcd by this Mortgaq�, foreclosurc by judictal proceedtng and srk of t6e Yroperty. Y " j
<br /> � The notice shall f�ut6er Worm Borrowv of the rlght to rclnstate aHer acceterstion and the right to assert In the fomlosure
<br /> proceed(ne ffie non-ezietence ot a detault or any other defense of Borrower to accelerstlon snd forcclosare. II t6e 6rcach �
<br /> � b not cured on or befo�e the date specl6ed In t6e notice, Lender at Lender's option may declare sll of the aums secured by ' �
<br /> � � t6is Morlpge to be immedla!ely dae and payable wlthoat furiber demand and may foreclose by judldW proceediug. Lender ;;�'�
<br /> ! shNl be entifled M collect In soch proceeding all experoea oE foreclosurc, incladiog, bot oot tlmited to, coets of docnmentary � : ,y,
<br /> ' i evidence. abdracb and tlUe reporls. ,. ;k,; ; , ': .
<br /> 19. Eocrnwer's Ri�ht to Reimpfe. Notwithstanding L.ender's accderation of the sums securcd by this Mortgage.
<br /> Borrower shall have the rig6t to 6ave aoy proceedings bcgun by L.ender to enforce this Mortgagc discontinucd at any time
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