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<br /> Lender•s written agnement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> � manner provided under paragraph 2 hereaf.
<br /> ^...� Any amounts disburoed by Leader pursuant to this paragraph 7, with interest thereon, shall become additional
<br /> r-{ indebtedness of Borrower secured 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 disbursement at the rate payable from time to time on outstantling principal under the Note unless payment of
<br /> � interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> i parm�ssible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any eapense or take
<br /> _ � any action hereunder.
<br /> ' j OC` S. inspecHon. Lender may make or cause to be made reasonable entries u on and ins
<br /> � p pections of the Property, provided
<br /> s that L.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. Condemnatton. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br /> i 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 Properry, the proceeds shali be applied to the sums secured by this Mortgage.
<br /> F with the excess, if any, paid to Borrower. In the event of a partial taking of the Properry, unless Borrower and Lender
<br /> � otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of tfie proceeds
<br /> s 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 af 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 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 /> i 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 Released. Extension of the time for payment or modification of amortization of the sums secured t,
<br /> by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
<br /> the liabitity of the original Honower 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 Borrower's successors in interest.
<br /> ] 1. Forbearence by Lender Not a Waivee Any forbear�nce by Lender in exercising any right or remedy hereundeq or
<br /> otherwise af[ordM. ,by appticable law, shall not be a waiver of or prectude the exercise of any such right or remedy.
<br /> The procurement of insurance or the payment of tnxes 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. Remedtes CumalaHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> remedy under this Mortgage or afforded by taw or equity, and may be exercised concurrently, independently or successively.
<br /> 13. Socee4sors and Asaigns Bound; Toint and Several i.iabaity; Captions. The covenants and agreemen[s herein
<br /> contained shali bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Bonower,
<br /> subject to the provisions of paragraph 17 hereof. AlI 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 /> interprot or define the provisions hereof.
<br /> 14. NoHce. Except for any notice required under applicable law to be given in another manner, (a) any notice m
<br /> Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br /> the Property Addmss 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 reccipt requested, to Lender's address stated herein or to k
<br /> such other address as Lender may designate by notice to Borrower as providcd herein. Any notice provided for in this
<br /> Mortgage shall be deemed to have been given to Borrower or I.ender when givrn in the manner designated herein.
<br /> 15. Uniform Mo�igagr, Governing Law; Severobillty. This form of mortgage combines uniform covenants for national
<br /> use and non-uniform covenants with limited variations by jurisdiction to constimte a uniform security instrument covering
<br /> real propeny. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br /> event that any provision or clauu of this Mortgage or the Note conflicts with epplicable 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. Bonower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br /> of exewtion or after recordation hereof.
<br /> 17. Transfer of the Property; qssompNon. If all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without I,ender's prior written consent, exctuding (a) the creation of a lien or encvmbrance subordinate to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br /> descent or by operation of law upon the death of a joint tenant or (d) the grant of any Ieasehold intemst of three years or less
<br /> . not containing an option to purchese, Lender may, at Lender's option, declare atl the sums ucured by this Mortgage to be
<br /> immediately due and payable. Lender shali 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 sotd or transferred reach agrcement 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 Lender
<br /> s6a11 request. If Lender has waived Lhe option .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 avd the Note.
<br /> If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br /> pacagraph 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 ro pay such sums prior ro the expiration of such period,
<br /> I.ender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hercof.
<br /> Nox-Uxtroxrt CovE�vervTs. Horrower and Lender further covenant and agree as follows:
<br /> 18. Accderatlon; Remedies. E=cept ys provided in paragnph 17 hereof, upon BorrowePa breach of any cmenant or £
<br /> agreement of Borrower in this Mortgagq tadudlag t6e covenants to pay w6en due any aums secured by t61e Mortgage,
<br /> Leoder prlor to acceleratipn ehaD maD notice to Borrower as provided in paragraph 14 hermF apectfying: (1) the brcach; +. ' '14
<br /> (2) t6e aetlon reqdred to enrc such breach; (3) a date, not lesa than 30 days from the date the noBce Ie malled fo Borrower, " m�
<br /> by wWch soch 6rcach most 6e cnred; and (4) that fsllure to cure such breach on or beforc the date spect8ed in the notice LL ��^'„ x , ' '
<br /> may rmilt In acceleraHoa of the su� secured 6y this Morlgaaq toreclosure by judicial proceeding and sale of the Property. � �• '
<br /> T6e notice sha11 imther inform Borrower of the dght to reimtate after accde�ation and the right to ssse�t in the foreclosurc
<br /> proceedio� t6e non-exbte�rce of a deEaull or any� other defense of Borrower tu acceleradon and foreclosare. It the breach �
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<br /> b not cured on or betore the date apecifled tn the noHce, Le�er at Lender's option may decLre atl ot the sume secured b ^`�
<br /> thb Morf�aage to be (mmediately due and payaWe without furfher demand and may foreclose by jndldal proceedi�. I,ender �' '
<br /> �h�J1 be mqtled to collect in sac6 proceediog a11 e�cpenees of forccloaurc, inclading, bnf not limited to, coats of documea
<br /> � � � evidence, a6stracls and Wle repprls, t� � � ;,�° �'-
<br /> 19. Eorrow�'s Ri�ht to Reinetata Notwithatanding Lender's acceleration of the sums securcd by this Mortgage.
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<br /> Borrower ahall 6ave the right to have any proceedings begun by Lender to enfortt this Mortgage discontinued at any time
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