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85'.000350
<br />eLender's
<br />%%riti,n agreement of applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
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<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
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<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
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<br />amounts shalt he payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
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<br />date of disbursement at the rate payable from time to time on outstanding 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 />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
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<br />any action hereunder.
<br />11. Inspection. Lender may make or cause to he 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 Properly.
<br />9. Condemnation. The 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 />and shall he paid to Lender.
<br />in the evert of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess if any. paid io Borrower. in the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing. there shall he applied to the sums secured 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 immediately 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
<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 />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 I and 2 hereof or change the amount of
<br />such Installments.
<br />10. Borrower Not Released. Extension of the time for p,oment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor In interest of Borrower shall not operate to release, in any manner,
<br />the Iiandity of the original Borrower and Borrower's successors In interest. Lender shall not he required to commence
<br />proceedings against such successor o. refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured b% this Mortgage by reason of any demand made M the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Arty forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of ;.rtes or other liens or charges by Lender shall not he a waiver of Lender's
<br />right io accelerate the maturity of the Indchiedne,s .ccured hr the. Mortgage
<br />12. Remedies Cumulative. all rerned•c, nr —ldcd rhls Mortgage are distinct and cumulative to any other right or
<br />remedy tinder this Mortgage or afforded f,t tats ,•r equux ,ind m.r% he v%cr :iscd concurrenth, independenth• or successively
<br />13. Successors and Assigns Bound; Joint and Se%eral Liability: ('options. The covenants and agreements herein
<br />contained shall hind. and the rii, his hrr•onder .hail more to. the respectlse successor, and assigns of Lender and Borrower,
<br />subieci t., -h,: rr.,yrs:ons of par.,¢r.lph her,r,11 'All co.crants and agreements of Borrower shall be joint and several.
<br />The capr,nns and headings tit the paragraph. o- klongagc are for :onvcnlcnce oniy :Ind are not m he used to
<br />interpret or define the pro%,%ion, hereof
<br />14. Notice. Except for ally nonce �vgwred •mdcr applic,ihic law to he given in another manner. (a) any notice to
<br />Borrower provided for to this Mortgage 'hall tic c',':F h% n:..ding such notice h% ;crtlfied mail addressed to Borrower at
<br />the Property Address or at st:ch other . dore— .w H,•rr„wer -,.,. designate by notice to Lender as provided herein, and
<br />(b) am not:cc to I ender shall he g;.rn tit _crt,ficd mad ten ;rr lece,, t requested. to Lender's address stated herein or to
<br />such other address is Lender mat de,ier.aic h•. n,tl;e to Born—cr as pro sided herein Any notice provided for in this
<br />Mortgage shall he seemed to hate toeen riycn to Borrower or I ender when given in the manner designated herein.
<br />15. Uniform MorlRage: Governing Law; Seserabli t',. This form of mortgage combines uniform covenants for national
<br />use and nomunitorm covenants with limited ••arrauom by yunsdicntin io constitute a uniform secnnty instrument covering
<br />real property. This Mortgage shall he goscrned h\ the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of !his Mortgage r%r the Note ;onflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which cal, he clsen effect tyithout the conflicting provision, and to this
<br />end the provisions of the !.Mortgage and the 's ate are declared t" tic sC%Crat lc
<br />if. Borrower's Copy. Borrower shall he furnished a conformed cope it the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. if all or an% pan of the Properr) (ir an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent. excluding at the creation of a lien or encumbrance subordinate to
<br />this Mortgage. IN the creation of a purchase mane)' xecurlt% nterest for household appliances, N:) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant it
<br />net l.cnder may. at Lender's option, declare all the sums secured by this 'Mortgage to he
<br />immediately due and payable. Lender shall have waived such option to accelerate aJ popir tp the sale or transfer. lender
<br />and the person to whom the Property is to he sold or transferred reach .agreement in th the credit of f such person
<br />is satisfactory to !.ender and that the micte t payable on the tuna secured hs this.Sfaare� s;, all k such rate as lender
<br />wa�t
<br />shall request if Lender has waived the option to :accelerate pro.lded In this paragraph -i7, of e�fttr6wers successor in
<br />interest has executed a written assumption agreement accepted in %%ritmg by Lender. l.ender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate. I ender %hall mail Bonowcr notice of i,CeleraI10n uu accordance with
<br />paragraph 14 hereof. Such notice shall provide a period if nor less than 10 day% from the date the notice is mailed within
<br />which Borrower may pay the sums declared due It Borrower tails so pay snyh sins prior to the expiration of such period,
<br />Lender may, without further notice or demand on Ilorri —er. ii%o,e ,na remedies perinitted by paragtaph IS hereof.
<br />Ntsrot- UNlroafa CO vF.NnNTB Borrower and Lender further covenant and agree as follows
<br />111. AeeekrNiont Rem edsea. Except as provided In paragraph 17 hereof. upon Borrower's breach of any Covenant or
<br />SW"MeFA of Borrower in Ibis Mortgage. Including the coyenanlm to pay when due any sums !secured by this Mortgage,
<br />Unlike Farhat to acceleration shad mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach;
<br />(1) "m Wine requiried to cure such breach, f3) a date, not leas than 30 days from the date the native Is mailed to Borrower.
<br />by witilleth soarb breach mom be cured; and 141 that failure to cure such breach on or before the date specified in the notice
<br />array reaufe In acceleration of Ike sums secured h) this Mortgage, foreclsure by judicial proceeding and sale of the Properly,
<br />`she notice sW farther Inform Harrower of the right to reinslate after acceleration and the right to assert In the foreclosure
<br />laraireardling tM non- exlsilence of a defsull or any other defem@ of Borrower to acceleration and foreclosure. If the breach
<br />IS final cured: am or before the date specified In the notice, Lender of Lender's option msy drelare all of the sums secured by
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<br />this Mortgage to he Immedlatel) due and payable without farther demand and ma) Ioreciime by Judicial proceeding, Mader
<br />%lion be eoeiti@d tea roltect in such pin/ ceding all rxpenm @® of fnrerll/aoure, infblld181a, hot not tImII@d tn. t'6 /xtm All dlKtB alt @nla"
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<br />evidence, aleiltratiti and title urporm
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