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85- 001767
<br />Lenders \,rnc.n .rgreemeni or apph,.ble law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Anv amow}ts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />i 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 Lender to incur any expense or take
<br />any action hereunder.
<br />S. inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property,
<br />that Lender .hall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lenders
<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 conveyance 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 be applied to the sums secured by this Mortgage.
<br />with the execsi if any. pawl n, 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 equ,'1 to that pr,ponion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking be;irs to the fair market value of the Property immediately
<br />paid to Borrower prior to the date of taking, with the balance of the proceeds
<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. Vender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />Property or ti, the sums secured by this Mortgage.
<br />Poles, Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due dare 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 rcauired 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 .ury demand made by the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender **"of a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />olherwisc afforded by applicable law, shall nor he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of talcs or other hens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage
<br />12. Remedies Cumulative. 411 remedies pro,tded in this Mortgage arc distinct and cumulative to any other right or
<br />remedy under this Mortgage of afforded by faw or cquny and rnav he exercised concurrenth, independeneh' 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 I ender and Borrower.
<br />subject to the provisions of paragraph I' hereof All covenants and agreements of Borrower shall he mint and several
<br />The eapnons and headings of the paragraphs of this Mortgage are for convcn.c„cc onh and are not to he tried to
<br />interpret or define the provisions hereof.
<br />14. Notice. Fxcept 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 green h, mailing such notice by certified mad addressed to Borrower at
<br />the Property Address or at such other address as Borrower nia% designate by notice to 1 ender as provided herein, and
<br />(b) any notice to Lender shall he is ,cn by ;erlihed mail. return receipt requested. n, Lender's address stated herein or to
<br />such other address as Lcndcr ntas designatc ht, notice to Borrower as provided herein %n% notice provided for in this
<br />Mortgage shall he deemed to ha,c been given io Borrower or 1 ender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; Severabilily. This form of mortgage combines uniform covenanh for national
<br />use and non - uniform covenants with limited s ariations by ;unuiiction ro constitute a uniform secunry instrument covering
<br />real property. This Mortgage shall he governed h% the law of the jurisdiction in which the Property ;s located In the
<br />event that any provision or clause of this Mortgage or the Note contlicts with applicable law, such conflict shall riot affect
<br />other provisions of this Mortgage or the Note which can he given ctTect without the conflicting provision. and to this
<br />end the provisions of the Mortgage and the \ote are declared to he scveratle
<br />16. Borrower's Copy, Borrower ,hall he furnished a cnnrornied copy of the lore .ind of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Trarofer of the Property; Assumption. it all or any pan of the Property or an interest therein is wid:nr Iran red
<br />by Borrower without bender's poor wilder cnnsenj excluding :a: the srcaron of a !;era sr encumbrance suborabrta ao
<br />this Mortgage. fbl the creation of a purchase money sesuritN n icresl lot household appliances. (c) a transfer by devise,
<br />descent or by operation of law upon the death of a iomi tenant or
<br />haw Lender may. at Lender's upaon. declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to aaclerate if. prior to the sale ar transfer. Lender
<br />and the person to whom the Property is to he sold or transferred mach agreement in w romg that the credo of such person
<br />is satisfactory to Lender and that the interest pavatdc on the vTts secured hs t ?ii. Mortgage shall he at such rate as Lender
<br />shall request. If Lender has wa'sed the option tr, 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 ,hall release Borrower from all
<br />obligations under this Mortgage and the Note
<br />If Lender exercises such option to accelerate. I ender shall retail Bonowcr nnticc of :rseelerauon tit accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than io loss front the date the nonce i, mailed within
<br />which Borrower may pay file suits declared due If Borrower fails ro pay such sums prior to the expiration of such period,
<br />Lender may. without further notice or demand on Borrower. nrsvke any remedies perm tied by paragraph IS hereof.
<br />No,.UvtroRxl ( (IVFhANTS Borrower :nod I ender further covenant and agree as follows
<br />IS. .Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covert or
<br />agreement of Borrower in this Mortgage, including the covenants to pay when due any rums .secured bay this Mortgage,
<br />Leader prior to acceleration shall mail notice to Borrower as provided In paragraph 14 hereof specifying: (1) the breach;
<br />12) the action required to cure such breach; 0) a dale, not less than 30 days from the date the notice Is mailed to Borrower,
<br />by whkh such breach must be cured; and 44) that failure to cure such breach on or before the date specified In the notke
<br />f may result in acceleration of the aunty secured by Ihk Mortgage, foreclosure by judicial proceeding and sale of the PrOperty.
<br />L� The Notice shall further inform Borrower of the right to reinstate titer aecelera11011 avid the right to assert In the foreclosure
<br />proceeding the nun- exislence of a default Or any Other defense of Borrower to acceleration and foreclosure. If the breach
<br />Is not cured on or before llte date specified fn the notice. Vender at I ender'% option may declare all of the rums secured by
<br />this Mortgage to be immediately due and payable without further demand and mar foreclose by judicial proceeding. i ender
<br />shalf be entitled ill collect in such proceeding all iii f s of flog velovure. including, but nut limited tn, euvb of documeulars
<br />evidrnee. absirat i% and title reputes.
<br />19, Borruwer'v Flight hi (tefnslatr. A�'lwuhu.nuhng. (ender, .,•i „f rho 'nn ,,-d ;, tilts Moll,!agc
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