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<br /> � �8- UU3132
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<br /> � Leader•s written agreement or applicable law. Bortower shall pay the amount of all mortgage insurance prcmiums in the � .
<br /> � manner pYovided under paragraph 2 hereof.
<br /> Any amounts disbuised by Lender pursuant to this paragraph 7, with interest thereon, shall become additional '
<br /> indebtedness of Borrower aecured by this Mortgage. Unless Borzower and Lender agree to other terms of payment, such �-
<br /> amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shalt bear interest from the
<br /> date of 'disburaement at the ratr payeble from time to time on outstanding principal under the Note unless payment of ; '
<br /> intecest at auch rate would be contrary to applicable law, in which event such amounts shall Ixar interest at the highest rate �
<br /> permiuible under'applicabie law. Nothing contained in this paragraph 7 shali require Lender to incur any expense or take ''
<br /> any action hereundea
<br /> 8•. InspecKon. Lender may maYe or cause to be made reasonable entries upon and inspections of the Property, provided i'
<br /> �' that Lender shalt give Bortower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br /> interut in the Property. �
<br /> 9. CondemnaMon. ?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 hercby assigned %
<br /> and ahall be ;paid to Lender. �
<br /> : � In the event of a total taking of the Properry, the proceeds shall be applied to the sums secured by this Mortgage. `
<br /> with the excess, if an �
<br /> � y, paid to Borrowec In the event of a partial taking of the Property, unless Borrower and Lender s
<br /> otherwise agree in writing, there shalt be applied ro the sums secured by this Mortgage such proportion of the proaeeds t`
<br /> aa is equal to that proportion which 1he amount of the sums secured by this Mortgage immadiately 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 i,
<br /> j paid to Borrower. �
<br /> j If ffie Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make }
<br /> 7 an award or settTe a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br /> # mailed, Lender is authorized ro 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. t
<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 hcreof or change the amount of � +
<br /> such installments_
<br /> � �
<br /> � 10. Borrower Not Rdessed. Extension of the time for payment or modiRcation of amortization of the sums secured ; �
<br /> by this Mortgage granted by Lender to any successor in interest of Borrower shail not operete ro release, in any manner, � .
<br /> the liability of the original Borrower and Borrower's successors in interest. i.ender 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 uny demand made by the original Borrower and Borrower's successors in interest. ` , ', �
<br /> 11. For6earaoce 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 tha payment of taxes or other liens or charges by Lender shall not be a wniver of Lender's ` , `,$:?
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage. ; , � �x
<br /> 12. Remediea Comulative. All mmedies provided in this Mortgage are distinct and cumulative to any other right or � � � "'�r�_
<br /> remedy under this Mortgage or afforded by law or equiry, and may be exercised concurrentty, independendy or successively. � �'�r
<br /> 13. Succes�ors and Aaeigns Bonnd; Joint and Several I.ia6ility; Captions. The covenants and agreements herein � '"
<br /> j < k�z
<br /> contained shalt bind, and the rights hemunder shall inure to, the respective successors and assigns of Lender and Bonower, ' -
<br /> subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and uveral. j yf''v
<br /> The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to ` "r � "
<br /> C � QY � iA`
<br /> interpreC or define the provisions hereof. � �xM .^,
<br /> 14. NoKce. ExcepY for any notSce required under applicable law to be given in another manner, (a) any notice to
<br /> Borrower provided for in thu Mortgage shall be given by mailing such notice by certi8ed mail addressed to Borrower at i
<br /> the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and R
<br /> (b) any notice ro Lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to j
<br /> such other 'addrcss as I.ender may designate by notice to Borrower as provided herein. Any nofice provided for in this �
<br /> , Mortgagashatl be deemed to have been given to Borrower or Lender when given in the manner designated herein
<br /> 15. Uniform Modgage; Govemmg Law; SevenbOlty. This form of mortgage combinea uniform covenants for natioaal �
<br /> use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> real property. This Mortgage shal! be governed by the law of the jurisdiction in which the Property is located. In the �.,,
<br /> event that any provision or clause of ffiis Mortgage or the Note confliccs with applicable law, such conflict shali not atEect
<br /> other provisions of this Mortgage or the Note which can be given eRect without the conflicting provision, and to this
<br /> end the provisians of the Mortgage and the Notc are declared to be severabla
<br /> 16: Borrowe�s Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time i
<br /> of ezecution or after recordation hereof.
<br /> 17. Tramfer of the Property; AssumpHon. If all or any part of the Property or an interest thercin is sold or transferred
<br /> by Borrower without Lender•s prior written consent, exdud'mg (a) the creation of a lien or encumbrance subordinate to
<br /> this Mortgage, (b) the creation of a purchase money sewrity interest for household appliances, (c) a transfer by deviae. Y
<br /> descentor by operafion of law upon the death of a joint tenant or (d) the grant of any leasehold interest of thm years or Iess
<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 aad payable. Lender shall have waived such option to accelerau if, prior to the sale or tranafer, Lender
<br /> and the pe�son to whom the Property is to be sold or transferred reach agreemmt in writing that the credit of such peison
<br /> is satisfactory to I.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lex�der
<br /> shall requesC If Lender has waived the option to accelerate provided in this paragraph 17, and if Bortower's successor in
<br /> intercat has executed e written assumption agrcemrnt accepted in writing by Lender, Lender shell release Borrower from all
<br /> obligations under this Mortgage and ffie Nou.
<br /> If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with '
<br /> paragraph 14 hereof. Such notice shali provide a period of not less than 30 days from the date the notice is ma7ed within
<br /> which Borrower may pay the sums declared dua 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 an remedies ' *
<br /> y permitted by paragraph 18 hercof.
<br /> Nox-UNtroA�[ Covarrerq-rs. Borrower and Lender further covenant and agree as follows:
<br /> 1& Accderaffon; Remedtn. $cep! as provided Io paraRraph 17 Aereof, upon Borrower'e breach of auy covenant or
<br /> aLreement o[ Bomower in t6is Morlgage, iacludlog t6e covmanb to pay whea doe any snme aecmed by t6is Morlgage, �
<br /> Lender pcfor to acakration aLa11 mail notice to Borrower as provided In paragraph 14 hereof apeeityiug: (1) the breacb; �
<br /> (� the action reqoietd to cure'soch 6reac6; (3) a date, not less than 30 days from tfie date the notice le mdled to Borrower, " " ' �
<br /> by;w6ic6sog6 breath mast 6e cored; and (4)`that failnrr to cnre soch breach on or betore tLe date speci8ed in the noNce �"`'�' � �r . � '
<br /> may ronit in acceluation ot t6e sa�v aecured by t6b Morlga�e, forecloeurc by jadiclal proceed(ng aod sale of the Property. : �
<br /> � 1Le notic� ihall�facthet inform�Borrower oL the t � to reinatate aEter acceleratlon and the � ;''" '
<br /> � +ight to assert io t6e Eoreclosure 5 ,�,. ,;,,;
<br /> � ; ,�`., . �
<br /> , proceedlu�.t6e non-etletence ot a defadt or any of6er deh�e o[ Borrov►v W acceleraBon aod fo�ecloaure. I[ tbe breacL
<br /> �M� �to��rcmea.ea ta��psy� �f �� aem�ma��a�pt�omt�� d�"miiea i�� o�`a�a��` � �; $
<br /> i ` ' a6a11 be mtlfled to auDeeCln �h proce�dbg 'all expeaw ot foreelosu inclu . entary +r �,,
<br /> ,� . erWma, abstracts'and tlNe repods. °„> ;'�
<br /> - " ' 19 Eocrow�'s Rl�bt to ReiMste. Notwithstandirtg L.�nder's acceleration of the suma aecured by this Mortgage, � � �""�
<br /> � "Bo=rowei sball have fLe rigfit 10 have my proceedings begun by Lender to enforce this Mor[gage discontinued at a�y time
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