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<br /> � 78- U1; 3133
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<br /> � Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br /> manner provided under paragtaph 2 6ereof_
<br /> Any amounU disburaed by Lender pursuant to this paragraph 7, with intercst thereon, shall become additional
<br /> indebtedness of Borrower secured by this Mortgage. Unless Boaower and Lender agree to other terms of payment, sach
<br /> amounts ahall be payable upo� notice from Lender to Borrower requesting payment thereof, and shail bear interest from the
<br /> date of disburxment at the rau payable from time to time on outstanding principal under the Note unless payment of ;;
<br /> interest at auch rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br /> permiasible under applicable 1aw. Nothing contained in this paragraph 7 shall nquirc Lender to incur any e�cpense or take �'
<br /> aay action hereunder.
<br /> 8._ ImpeMton. Lender may make or cause to be made reasonable 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 Properry. ;
<br /> 9. Condemnatbn. 7'he proceeds of any award or claim for damages, direct or consequentiai, in connection with any
<br /> condemnation or other taking of t6e Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned i
<br /> and shall be paid to Lender. t
<br /> 7n ffie event of a total taking of the Property, the proceeds shall be appiied to the sums secured by this Mortgage.
<br /> with the excess, if any, paid to Borrowec In the event of a partial taking of the Properry, unless Bor�ower and Lender
<br /> otherwise agree in writing, Yhero shall be applied to the sums secared by this Mortgage such proportion of the proce�ds
<br /> as is equal to that propoRion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br /> taking bears to the fair market vatue of the Property immediately prior to the date of taking, with the balance of the proceeds
<br /> paid to Borrower_
<br /> If ffie Property is abandoned by Borrowec, or if, after notice by Lender to Borrower that the condemnor offers to ma7ce '
<br /> � an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice ia s 3 .
<br /> mailed, Lender is auffioriud to colleM and apply the proceeds, at Lender's option, either to resroration or repair of t2w +
<br /> � Property or to the sums secured by this Mortgage. ;r ;
<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 instailments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> such instaliments. C�
<br /> �
<br /> 10. Borrower Not Relessed. 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 retease, in any mann�r,
<br /> the liabiliry of the original Borrower and Borrower's successors in inrerest_ 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 interest. ;
<br /> 1L For6earance t' �
<br /> by Lender Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or E,
<br /> otherwise afforded by applicable law, shall not be a waiver of o� preclude the exercise of any such right or remedy. °' ;a;
<br /> The procurement of insurance or the payment of taxes or other liens or charges by Lender shatl not be a waiver of Lende�s �" �.
<br /> right to accelerate the maturity of the indebtedness secured by this Mortgage. � ` '� c€
<br /> � k �� , � ° F"
<br /> 12. Remedies ComulsHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or � u f_
<br /> rcmedy under this Mortgagc or afforded by law or equity, and may be exercised concurrenfly, independenHy or successively. y
<br /> 13. Soccessors and Aasigns Bound; Jo(nt and Several Liability; CapBo�. The covenants and agreemenu herein e ' , '
<br /> contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Bortower, s
<br /> subject to the provisions of paragraph 17 hereof. AII covenants and agreements of Borrower shall be joint and several. �'
<br /> Zhe qptions 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 hereo6 t., :?.
<br /> _ 14. Notice. Except for any notice mquired 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 certiRed mail addressed to Borrower at
<br /> the Property Address or at such other address as Horrower may designate by notice to Lender as provided herein, and
<br /> (b) any notice to Lender shall be given by certified mait, retum receipt requested, to LendePs address stated herein or to
<br /> suah other address as Lender may designat� by notice to Borrower as provided herein. Any notice provided for in this
<br /> Mortgage shatl be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br /> 15: UniEorm Morigage; Goveroing Law; 3everobillty. This form of mortgage combines uniform covenants for national
<br /> uu and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering `
<br /> � nal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the !
<br /> event that any provision ar clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affeet .;
<br /> other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to tha
<br /> end the provisions of the Mortgage and the Note are declared to be severabla
<br /> 16. Bomower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the dme
<br /> of eaecution or after rccordation hereof.
<br /> 17. Tra�fer of t6e Property; Aasomption. If atl or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior written consent, excluding (a) the cication of a lien or encumbrance subordinate to : ?
<br /> , i this Mortgage, (b) the cnation 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 leasehold interest of three years or less
<br /> � � not wntaining an option to purchase, Lender may, at Lrnder's option, declarc all 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 tranafer, Lender
<br /> � and ffie person ro whom the Property is to be sold or transferred reach agreemeni in writing that the crcdit of such pe�son
<br /> is aa6sfactory to L,ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br /> � sball requeat 7f Lender has waived the option -to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> interest has executed a writtrn assumption agmmrnt accepted in writing by Lender, Lender shall release Borrower from all
<br /> obligatioas under this Mortgage and the Note.
<br /> � If Lender exercises such option to accelerate, Lender shall mail Borrower aotice 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 mai'led within
<br /> whichBoaower may pay the suma declared dua If Boaower fails to pay such sams prior to the expira6on of such period,
<br /> r � Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. ,
<br /> Nox-UrrtronM Coveivetv�rs. Horrovrer and Isnder further covenant and agree as follows:
<br /> 18. Aecderafioo; Remedid. E::cept ay provWed 1n paraqraph 17 hercof, upon Borrower'e 6reach of any coveaant or
<br /> aLrcemeot oE Borrower io th(s Mortgage, indudlog 16e covenaMs to pay w6en aoe �y sams secared by t6is Mortgage. � ; ,
<br /> F.ender piior to aceekraUon shaD maq 'notice fo Borrower 'a provided in paragraph 14 hereot specifying: (1) t6e breach;
<br /> , ` (2) t6e aetlon rtquieed to cum sncL breac6; (3) a date, aot le� than 30 days from U�e date tbe notice is mWed to Borrower, �"
<br /> Hi
<br /> £ by which ane6 brcseh mod be cored; and (4) t6at fallure. to cure suc6 6rcach on or 6efore tLe date specltied in t6e noHce i,, � f
<br /> may rwuN ln acceleratlon oE the enun seeurcd by.thh Morfga�e, foreclosure by judlcial peoceed5ug and sde ot t6e Property. � ; * ' � ,
<br /> Tha nodce'ahall.[art�er ioYorm Borrowcr of the; rieht fo rcimtate after:xcderatioo a� the rlg6t W aaseR io the foreclosarc �' .'t - ''
<br /> the taa-sxistmce ot a defa�dt or �-
<br /> - P� Mry other defeme of Borrower to aoceleratloa snd torcctoeurc. i[ the breach � ,:5
<br /> ti no! rnred'on.or"6etore tl�e. d�te aped6ed in tbe uotice, Lesder at Lende�s opttoo may dectare all of tbe � aecured by � �,
<br /> thir Mort��e to be�3mmedlrtdy dae and pryrble witbout furrher demand and may forecbx by jodicial proceediug Lender .
<br /> lrill be entltkd to eodecE in saL proce� all expenses of forectowrc, inclodfu�, 6ot �rot Ifmited to, eoefa oE documentary �` *'� ��
<br /> '$ ' : ..... . . . ..Wn,4 , i...r �
<br /> s�deooe. aL�ac� and t�le e�e�o�b. . , .
<br /> r.� 19. aocioweTs R1�Lt to Refrotale. Notwithatanding I.eoder•s acceleration of rhe sums secured by this Mortgage,
<br /> � Borrower shall bave the rFghf to have any proceedinga begun by Lender to enforoe this Mortgage discontinued at any time
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