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I 87- 107290 r Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner pt'ovided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower secured by this Mortgage, Unless Borrower and Lender agrec to other terms of payment. such amounts shall be payable upon notice from Lender to Borrower requesting paYlnent thereof. and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law. in which event such amounts shall bear interest at the highest rate permissible under applicable law, Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection speci fying reasonable cause therefor related to Lender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for damages. direct or consequential. in connection with any condemnation or other taking of the Property. or part thereof. or for conveyance in lieu of condemnation. are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage. with the excess. if any. paid to Borrower, In the event of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing, there shall be applied to the sums ~ecured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking. with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages. Borrower fails to respond to {,ender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceeds. at Lender's option. either to restoration or repair of the Property or to the sums secured by this Mortgage, Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments, 10. Borrower Not Released. E:l(tension of the time for payment or mooification llf amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner. the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise mooify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Forbearance by Lender Not a Wah'er. Any forhearance by Lender in exercising any right or remedy hereunder. or otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy, The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indehtednc'<S '<CCured by this Mortgage, 12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded hy law or equity. and may be exercised concurrently. independentl)' or successively, 13. Successors and Assigns Bound; 10lnt and Senral Uabillt)-; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several, The captions and headings of the paragraphs of this Mongage are for convenience only and are not to be used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to I.ender as pro\ided herein. and (b) any notice to Lender shall be given b)' certified mail. return receipt requested. to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein, Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when gi\-en in the manner designated herein. 15. Uniform l\foJt&age; Governing Law; Senrabilit)'. This form of mongage combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real propeny, This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law. such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to this end the provisions of the Mongage and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Property; Assumption. If all or an)' part of the Propeny or an interest therein is sold or transferred by Borrower without Lender's prior wrilten consent. excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise, 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 not containing an option to purchase, Lender may, at lender's option. declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer, Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. If Lender has wai\'ed the option to accelerate provided in this paragraph 17. and if Borrower's successor in interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof, Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due, If Borrower fails 10 pay such sums prii:lr to the expiration of such period. Lender may, without further notice or demand on Borrower. invoke any remedies permilted by paragraph 18 hereof. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 18. Aceeleratloo; Remedies. Euept as pro.'lded In paflllnph t7 hereof, upon Borrower's breach of an}' covenant or acreement of Borrower In this Mortgage, including the connants to pay when due any sums secured by this l\fortxllge, Le"r prior to aceeleratloo shall man notice to Borrower as provided in paragraph 14 hereof specifying: (1) tbe breach; (2) the action required to cure such breach; (3) a dale, not leas than 30 days from the date the notke is mailed to Borro.nr. by wilkb SIKh breach must be cured; and (4) Ihat fanure 10 cure such breach on or before the date specified in the notke may result In acceleration of tbe sums secured by Ihis Morf&lIIle. fOffl:losure by judicial proceeding and sale of the Prnper1y. The notke lIhall further Inform Borrower of the rlxht 10 relmtale after accelnatlon and the right to assert in the foreclosure proeetdl. lhe non-elllstence of a default or any other ddense of Borrown to accelemtlon and foreclosure. If the breach Is not cured on or before the date specified In the notice, I.ender at l.ender's option may declare all of the sums secured h)' thil MortPle to be Immediately due and payable without further demand and mal foreclose by judicial proceeding. I.ender ,hall be entitled to colleelln such proceedllll all expenses of foreclosure, indudlng, but not limited to, (0.1s of documentar)' evklente. ab!ltrlK'b and tille repom. 19, aorroweis Ritht to Relnstale. Notwithstanding I.ender\ accelcra\lon (If the Slims secured hy Ihis Morlgagc. Borrower shall have the right 10 have an)' proceedings hcgun I>y l,'nder to enforce th" Mortgage disl'l'"tllllled at any IIllle l I ~~ i " .~ '" --1