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85001770 85, 00i647
<br />Lender's wntwn 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 />amourew shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from the
<br />date of dbbufwnwM at the rate payable from time to time
<br />on outstanding principal under the Note unless payment of
<br />ink Mauch rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permiss" under applicable law. Nothing contained in this paragraph 7 shall require Lendei to incur any expense or take
<br />any actin bleraunder.
<br />If. bspecdon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lander shall give Borrower notice to
<br />prior any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />A Coademost . The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condwnnation or other taking of the Property, or thereof, for
<br />part or 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 be 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,
<br />unless Borrower and Lender
<br />otherwise agree in writing, there shall be 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
<br />sums secured by this Mortgage immediately prior to the date of
<br />taking beers to the fair market value of the Property immediately prior to the date of taking. with the balance the
<br />paid to Borrower. of proceeds
<br />If the Property is .,bandoned 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
<br />to respond to Lender within 30 days after the date such notice is
<br />nailed. 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 in
<br />to paragraphs I and 2 hereof or change the amount of
<br />such installments.
<br />11?. 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
<br />of Borrower shall not operate to release, in any manner.
<br />the liability of the original Borrower and Borrower's successors in inwrr,i. Lender shall not be 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 by
<br />made the original Borrower and Borrower's successors in interest.
<br />11- Forbearance by Leader Not a Watver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes liens
<br />or other 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 />1t Raysedies 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
<br />or equity. and may he ekercised concurrently, independently or successively.
<br />13. Snecesora sand 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 agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. No1lee. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing by
<br />such notice 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 Lender's address stated herein or to
<br />such other address as Lender may designate by
<br />notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />1S. Ueffotm Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />we and rat- uniform covenants with limited variations by
<br />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 located. In the
<br />evert that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />otter provisions of this Mortgage or the Note which can be effect
<br />given without the conflicting provision. and to this
<br />Cold the provisions of the Mortgage and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Traveller of the Pmpertyt 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 lien
<br />creation of a or encumbrance subordinate to
<br />this Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />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 be
<br />immediately die 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 to be 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 be 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. Lender shall snail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from
<br />the dale the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower falls to pay such sums prior to the expiration of such period.
<br />Lender may, without further notice or demand on Borrower•
<br />awoke any remedies permitted by paragraph 18 hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Leader further covenant and agree as follows:
<br />IL Aeeekratbsi Remadks. Except as provided In paragraph 17 hereof, upon Borrower's breach of nay cevenees or
<br />SPOON"" Of Borrower In this Mortgage, including Ike covensolb to pay when due any ago" by
<br />secured this Mortgage,
<br />Lavidw pdw to acceleration shag string notice to Borrower as provided In paragraph 14 hereof specifying. (1) the breach;
<br />(2) 0e MOM requdred to cute such breach; (3) a date. not des than 30 days from the date Ike notice Is mailed to Borrower,
<br />L by which each beach mum be cured; and (4) that failure la cute such breach on or before the date sperllted in the Notice
<br />OW mfr* IN acceleration of the sums secured by this Mortgage, foreclosure by JudicW proceeding and ask of the property.
<br />71st nstee OW fwtber inform Borrower of the right to reinstate after
<br />acceleration and The right to a rt In the ferftkwwe
<br />the mm- *&ktetsce of a default of may other defense of Burrower to acceleration and fureeloaute. If The Maack
<br />b not owed on W before the date specified In the wolke, tender at Lender's option may declare an of the suet securwi by
<br />this Mortgage to be ImmmdWely due and payable without further demand
<br />and may forecbse by Judkfal proceeding, [.ender
<br />shelf M eardiskid to coBact in such proceeding all expersves tit foreclosure. including, but not limited Sri, costs of documentary
<br />s!
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<br />evidence, abdracw and tick reports.
<br />It. BMrowees Right to Retaoste. Notwlthsldnding 1 ender'. the ,unle acculcd by Ih15 Mortgage.
<br />iorrower shall have lite right io hare' ally pr,Keethngs hl anal by t i ndt't I, C11I Inc Ih15 N111119.19c
<br />,I1,, ll ilint,ed at any till Ee
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