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<br /> i 78- U03160
<br /> Lender's written agtrxmtnt or applicable law. Bonower ahalt pay the amount of alt mortgage insurance premiums in the `
<br /> � mannec pfovided under paragraph 2 6ereof.
<br /> My amounts disburaed by Lender pursuant to this paragraph 7, with inteiest thereon, shalt become additional ;,
<br /> � indebtedness of Borrower aeaured by this Mortgage. Unless Horrower and Lender agree to other terms of paymeat, such �
<br /> amounts �hall' be payable upon notice from Lender to Borrower requesNng payment thereof, and shail bear interest from the i
<br /> date of d'ubursement af tha rate payable from time to time on outatanding principal under ffie Note unless payment of � "
<br /> ' � interest at such rate would be contrary to applicable law, in which event such amotmts shall bear interest at the higtxst rate '
<br /> perafiasible under applicabk7aw. Nothin contained in this ara �
<br /> any action hereundet. 8 P Braph 7 shall nquirc Lender to inwr any eapense or take �
<br /> !
<br /> S. Inspectlon. L.ender may make or cause to be made ressonable entries upon and inspections of the Property, provided 1
<br /> that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor retated to Lender'a ; :
<br /> interest in the Properry.
<br /> 9. Coudemnatiom '1'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 hereby assigned �
<br /> f and shall be paid to Lendec �.
<br /> , � In the event of a total taking of the Property, the proceeds shatl be applied to the sums secured by this Mortgage, f
<br /> � with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and I.ender �
<br /> otherwise agree in writing, there shall be applied ro the sums secumd by this Mortgage such proportion of the proceeds �.
<br /> as is equa( to that proportion which the amount of the sums secured by this Mortgage immediatdy prior to the date of �
<br /> 7 taking bears to ihe fair market value of the Property immediatety prior ro the date of taking, with the balance of the proceeds ?
<br /> � paid to Borrower. t
<br /> If the Property is abandoned by Borrower, or if, after notice by Lender to Borcower that the condemnor offers to make t'
<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 authoriud to collect and appiy 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 p ,�
<br /> � or postpone the due date of the monthly instaliments referred to in paragraphs 1 and 2 hereoP or change the amount of E
<br /> such installmenu.
<br /> � 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured ;
<br /> by this Mortgage granted by Lender to any successor in interest of Horrower shall not operate to release, in any manner.
<br /> the liability of the original Borrower and Borrowets successors in interest. Lender shall not be mquired to commence � ' '
<br /> j proceedings against such successor or refuse to extend time for payment or otherwise modify amonization af 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. Forbearanarby Lender Not a Wrivea Any forbearance by Lender in exercising any right or rcmedy hereunder, or ;-`
<br /> otherwise afforded by applicable law, shall not be a waiver of or preclude the eaercise oF aay such right or remedy. i ;�.
<br /> The procurement of insurance or the paymcnt of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br /> right to accelerate the maturiry of the indebtedness secured by this Mortgage. i � 5
<br /> f 12. Remedles Comulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br /> rcmedy under this Mortgage or afforded by law or equity. and may be exerciscd concurrently, independendy or successively. '
<br /> 13. Succeaso�s and Assigns Sound; Joint and Several Lia6�lity; CapBons. The covenanu and agreements heroin
<br /> contained shall bind, and the righcs hereunder shall inure to, the mspective successors and assigns of Lender and Borrower, �
<br /> subject to the provisions of paragraph 17 hereof. Alt covenants and �greements oF Bonower shall be joint and severaL � P�
<br /> The captions' and headings of the paragraphs of this Mortgage are for convenience only and aro not to be used to ` "" '`j � "
<br /> interpnt or de$ne the provisions hereof. ,� ;;i
<br /> 14. Notice_ Except for any no[ice required under applicable lnw 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 certificd mail addressed to Borrower at F
<br /> the Property Address or at such other address as Borrower may designate by notice to Lender as °
<br /> (b) any notice to Lender shall be given by certifted mail, retum receipt rcquested, to Lender's addressrs ated herei nor to
<br /> such other addtess as Lender may designate by notice to Borrower as provided herein. Any notice provided for in ffiis
<br /> Mortgagq ahall be deemed ro have been givm to Borrower or Lender whrn given in the manner designated herein.
<br /> 15. Uniform Mortgage; Governing Law; 3even6illty. This form of mortgage combinm uniform covenants for national
<br /> uu and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br /> real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is ]ocated. In the
<br /> event that any provision or clause of this Mortgage or the Note conflicts with applicable law, auch conftiat 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 aro declared to be severable_
<br /> 16. Borrower's Copy. Borrower shall be fumished a conformed copy of the Note and of this Mortgage at the time
<br /> of execuHon or after recordation hereof.
<br /> 17. Tn�fer of the Prope�ty; Aasumptlon. If all or any part of the Pmperty or an interest therein is sold or transferred
<br /> by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinau to
<br /> this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by dev3ae,
<br /> descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intereat of three years or less
<br /> aot aontaining an aption to purchase. Lender may, at Lender s opUon, declare all the sums secured by this Mortgage to be
<br /> immediatNy due and payable. Lender shall have waived such option to accelerate if, prior to the sale or tranafer. I.ender
<br /> and the person to whom the Property is to be sold or transferred reach agrcement in wriring that the credit of such person
<br /> is satisfactory to I.ender and that the interest payable on the sums ucured by this Mortgage shall be at such rate as Lender
<br /> shall request. if Lender has waived ihe option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br /> iaterest has executed a writtcn assumption agreemrnt accepted in writing by Lender, Lender shall release Bonower from all
<br /> o6ligations under ffiis Mortgage and the Nota !
<br /> If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accotdance with
<br /> paragraph 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 ffie sums dxtarod due. 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 any remedies permitted by paragraph 18 hereof. ?
<br /> � Nori-UNtaoxM CovertKrrrs, Borrower and Lender further covenant and ag�ree as followr.
<br /> 1& AcceleraHop; Remedtee, g,uept as prorided In paraRnph 17 hereof, upon Borrower'a breach oE any covenant or �
<br /> ': ` ' a�►epme�N oFBomower in this Mortgage, iacladiag fbe covenants to pay whm due aoy auma seeurcd by thb Mortgage,
<br /> Lender prior to accehratiop aLd� mail noNce to Borror►v as provided (n paragrrph 14 hercof specltying: (1) the breach; "� �
<br /> ' (2) �e aetlon +e9u6ed W aure ench breach; (3) a datq not leas tha� 30 days from the date the nodce Is mailed to Borrower, � `"'=�"
<br /> by whleh sach brcsch mmt be cnrcd; aod (4) tbat failurc to cure sncM breac6 on or 6efore tl�e date specified (o the noSce • � '
<br /> ym+lY ieadt in acceleratlon o[ the iums aecarcd 6y thts Morlgaqe, toreclosurc by judlcisl procaediug and aale oF t6e Property. "'
<br /> T6a notice sLall tmYher:tnform Borrower of tbe right to relnstate after acceleratlon a� the dght to assert in t6e foreclosare ;� �` �"'` �
<br /> , , �' tUe uoo�e�teece o[ e;default or a�q;other defense ot Borrower to acceleratlon and fondosure. IF the breach �;;;.,:� "
<br /> ` i� not eoeed.on or be(ore` t6e date sped8ed in t6e ooUce, I.ender aR Lender's option msy declare all of the soms eecorcd b ° '' r
<br /> t�ir'M eYo '6t;ImYoedtatel ' �uea�d Y �`
<br /> � � .. Y WY�� wlthoat furiher demand and may foreclose 6y judtcial proceediug. Lender � +` �;e'
<br /> , �� � � � �o8eet ln 'sach'Proceedln6 all expemes oE foreclosure, IndudiuQ, but not Itmited to, costs of documentary ay..,. > '•
<br /> . e�id�ces'a6dnc�s aod tlUe reporb: ,
<br /> 19•. aorrowefs 1ti�t to Reimtata ' Notwithitanding Le�der's acceleration of the sums secured by this Mortgage,
<br /> Borrower s6a11 hav� ffie rig6t to have any proceedings begua yy Lender to enforce this Mortgage discontinued at any time
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