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<br />l'! I ,-on , 1i a!! he C,,:! 1 C _,dl'.; , 1: � 11
<br />C 'I r. I rat r IoCwt : 1 h! I r C.Ier p:.sment, such
<br />,motmt, 'hall he r,1% .11,1" op"11 [1,11 rf,111 1 if) ti;ill hear interest from the
<br />!ale of, di burscmerlt at :he rate pav;ahh- ii,cip.d :ndcr he ?dote unless rivrnent of
<br />interest at such rate would he q'phw.ib!, x., n s0 1ij, ,Iich inwjints hal! hem intere<t at O)v hiihvst rite
<br />permissible under applicable ln,,c Nothing :onraincd in ih paracrarh hall require I.eqd(-r to incur any !epense or !ike
<br />,,fly action hereunder.
<br />8. Inspection. Lender may make or cause to he rnatle IC&iOnahh' L-Otrw i,pon and inspectiori, of the Property, provided
<br />that Lender shall give Borrower notice prior to any %iwh inspection reasonable cause therefor related :o Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or conicquential, 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 be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid to Borrower. In the event of if 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 ouch proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured hN 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 />It the Property is abandoned by Borrower, or if• after notice by 11.crider 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 (lays 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
<br />,_ 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 payment 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 liability of the original Borrower and Borrower's successors in interest. Lender shall not he 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 Borrower's successors in interest.
<br />11. Forbearance 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 he a waiver of or preclude the exercise of any such right or remedy_
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness %ccurcd by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative *o any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or successively.
<br />13. Successors; and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreement-, of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage arc for convenience only and are not to he used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be give,: in another manner. (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein. and
<br />(b) any notice to Lender shall be given by certified mail. return receipt requested. to I-ender's address stated hereirl' or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall he deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law. Se%erobility. This form of mortgage combines uniform covcnim'.-, ire national
<br />use 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 conflict, with applicable law, such conflict 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 are declared to he severable.
<br />16. Borrowers Copy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Tranater of the Property; Assumption. If all 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 creation of a lien or encumbrance subordinate 10
<br />this Mortgage. (b) the creation 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 tht" years or less
<br />not containing an option to purchase. Lender 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 io accelerate if, prior to the sale or transfer. Lender
<br />and the person to whom the Property is to he sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sum-, secured by this Mortgage shall he at such rate a% Lender
<br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice 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 mailed -within
<br />which Borrower may pay the sums declared due. If Borrower fail,, to pay such sums prior to the expiration of each period,
<br />Lender may, without further notice or demand on Illorrower, invoke any remedies permitted by paragraph 18 hereof.
<br />NON•UNIFOOM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />11. Acceleration; Remedies. Except as provided In paragraph 17 hereof, upon Borrower's breach at any Covenant at
<br />offintalmonei of Borrower In Ibla Mortgage, Including the covenants to pay when do* any same secured by this Martitate,
<br />lAod" prior to acceleration shah mail notice to Borrower as provided In paragraph 14 hereof specifying: (1) the Wacht
<br />(3) fit@ action required to coca such breach; (3) a dole. not less than 30 days from the dole the notice Is mailed to Borrower,
<br />by *Me% each breach most be cored; and (4) that failure to rare such breach on of before the dole specified In the notice
<br />may resedil In acceleration of the tottim secured by lhk Mortgage, foreclosure by Judicial proceeding and sale of the Property.
<br />'tow nowit, Am ( under Inform Borrower of the right 14) reirio,ife offer acceleration and the right to assert In the foreclosure
<br />protonoift
<br />the oural•exhilence of a defoulf Of aoq tither ilefemt, fit Iltirrower to acceleration and foreclosure. If the breath
<br />is mot cored an or before the time specified in the notice, Lender at I.voider's option may declare all of the sums secured by
<br />this Mortitilitge to be Immediately due and payable without further demand and may foreclose by judicial proceeding, I virideir
<br />*W be #Mftkd In collect In such proceeding oil experts, k of foreclosure, Incloding, but not limited in. rolls of documentary
<br />evidence, aborach and filk reports.
<br />It. Diforrower's Night to Reinstate, Nolwillistandiog I ender*% ac,vlermioo of the %nio% secured by this
<br />Norrower shall have the right to have any linicevdings begun by I ctidef I!, c force the% Mortgage discontinued at my one
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