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Lender's written agreement or applicable law. Borrower shall a the ca., 002867
<br />manner provided under paragraph 2 hereof. pay e amount of all mortgage insurance premiums in the
<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, :ic
<br />amounts shall be payable upon notice from Lender to Borrower requesting
<br />date of disbursement at the rate payable from time to time on outstanding principal thereof
<br />ooter thehN1 a unless from the
<br />(� interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest to
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expenu or take
<br />any action hereunder.
<br />$. Inspection. Lender may make or cause to be made reasonable entries u
<br />that Lender shall give Borrower notice prior to an such inspection s porn and inspections re the Property, provide'{
<br />interest in the Property, y ' Pe pacifying reasonable cause therefor related to Lender's
<br />t 9. Condemmtion, The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />R, condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />i 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 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 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 Cr SCttiC a claim for damages, $C.TTitter ti tie I- espojid tci LLtid2r tiriiliii� iv udy'a uii2T tltE� udt2 Si3Cii riutiCC 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 Rekased. 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 shalt 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
<br />otherwise afforded by applicable law, shall not he 'a waiver of or preclude the exercisenof or tanv such right oruremedy.
<br />The procurement of insurance or the pa -ment of taxes or other liens 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. 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 exercised concurrently, independently or successively.
<br />13. Successors Wild Aaaigns .Bounds 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
<br />to he used to
<br />interpret or define the provisions hereof.
<br />14. Notice, 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 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 Lender as
<br />(b) any notice to Lender shall he given by certified mail, return receipt requested, to Lender's addre srtated 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 be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />IS. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non - uniform covenants with limited variations by jurisdiction to canstitute 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 />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 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. 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, (h) 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 it joint tenant or (d) the grant of any leasehold interest of three 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 be
<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 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 he at such rate as i..ender
<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 !..ender exercises such option to accelerate, Lender shall mail %mower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of nut less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay ;ttch titans prier to the rxpin►tiun of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies pcs Pei red by paragraph 18 hereof.
<br />NON•UNIFOnM CoVPNAN "rs. Borrower and Lender further covenant and agree as follows:
<br />It Acceleration; Remedies. Except as provided in paragraph 17 hereof, of on Borrower's breach of any covenant or
<br />agreement of Borrower in this Mortgage. including the covenauh to pay when due any sues secured by this Mortgage,
<br />1 r prior to acceleration rim mad nofice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach;
<br />(2) the action requited to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower,
<br />by which such breach must be cured; and (4) that failure to cure %uch breach on or before the date specified in the notice
<br />may result in acceleration Of the sums secured by this Mortgage, foreclo%ure by judicial proceeding and We of the Property.
<br />The notice than farther inform Borrower of the right to rtin+tate after acceleration and the right to asske" in the foreclosure
<br />pry the non-exiatence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />is wd cured on or before the date +pacified in the notice. Lender at Lender's option ooay declare all of ibe ♦um,% ,enured by
<br />tbka Mortlgage to be immediately due and payable without further demand and may foreclm by judicial Proceeding. (.ender
<br />be entitled N► collect in such proceeding all exprnres of foreclosure. including, but not limited to, cOsit, of documentary
<br />evidence, abornetA and lille reports,
<br />19. Borrower's Right to Reinstate, tiutwitltelarnlink, I coders arcs It taUutr ,.f th. ,ants wcctirect Pn ilti, 49r ttccep
<br />llwro:acr "hall haavc„ the right ru have tan1 t�roccrdirr� 1�4 un h: 11rr'I�i tv cttt��rcr rPtr, 31,�ri .rf;e .li,rurtr��r��rd ,it :asii hn�,
<br />KS E4 f firm 10. pd%je .)
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