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<br />I enokr's wnu n agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such
<br />amounts shall he payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<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 tender to incur any expense or take
<br />any action hereunder.
<br />8. inspection, 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 sash inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<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 convevance in lieu of condemnation. are hereby assigned
<br />and shall he 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 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 equal 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 fender 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 1 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 Borrowers 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 secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law Or equity. and may he cvercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability: Captions. The covenants and agreements herein
<br />contained shall hind. 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, •if Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are 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 he given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall he 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 !.ender as provided herein, and
<br />(b) any notice to Lender shall he given by certified mail, return receipt requested. to Lender'% address stated herein 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 I -ender when given in the manner designated herein.
<br />13. Uniform Mortgage: Governing Law; Severability. This form Of mortgage combines uniform covenants for national
<br />use and nonuniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shall he governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage Or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can he 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. Borrower's 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. Transfer 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 to
<br />this Mortgage, (b) the creation of a purchase monev 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
<br />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 to accelerate if• prior to the sale or transfer, Lender
<br />and the person to whom the Property is i o 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 sums secured by this Mortgage shall he at such rate as 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, i.ender shall nrail Borrower notice of acceleration in accordance with
<br />paragraph Id hereof. Such notice shall provide a period of not less than 10 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due 11 Borrower fade to pay such slums prior to the expiration of such period,
<br />tender may. without further notice or demand on Borrower. Invoke an) remedies permitted by paragraph 18 hereof.
<br />NoN- Untaotm Crrvr;NANrs Borrower and Lender further covenant and agrec as follows:
<br />18. Acceleration; Remedies. Except as provided In paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in thk, Mortgage, including the covenants to pay when due any sums secured by this Mortgage.
<br />Lender prior to acceleration shall mail notice ho Borrower as provided in paragraph 14 hereof specifying: (1) the breach;
<br />(2) the action required to care such breach; (3) a date, not teas than 30 days fruits the dare the notice is mailed to Borrower,
<br />by which each breach mint be cured; and (41 that failure to cure such breach on or before the date specified in the notice
<br />may result in acceleration of the sumo secured by this Mortgage. foreclosure by Judicial proceeding and sale of the Property.
<br />'the notice shall further inform Borrower of the right Nr reinstate after acceleration and the right to assert In the foreclosure
<br />proceeding The non- eskstence mf a default or any other defense of Borrower to acceleration foorechosure, if breach
<br />and the
<br />III not cured on or before the date specified in the notice. Lender at I ender's option may declare all of the sums secured b v
<br />'
<br />this Mortgage to be lmmedintely due and payable nithoul further demand anti may furechwe by judicial proceeding. Lender
<br />shall he entitled its 4tralec1 In such procerding all espenscs of (fireI losure, including, but pool lintlled ha, ousts of documentary
<br />eyidencr, abslrm is and title regporrts.
<br />Berri-net's 19. Berra,nes (tight III ReIrtslate• V„Iw l6bst,an, I 1 nv I vI'deI , civI II",II .,I till' ',1l Olt .,, ,I Iv, I t,I this IllyI Ir agi,
<br />ttnnrrycr Shall hate the righl In h:lve mv prn,reding•, IuHun hl t cndtn r. �: nl�,I,.r Ihr, ptotlgage ,11 any In,lr
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