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85- 00526. Lender's wrnt,n agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such amounts shall he payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. S. Inspection. lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned and shall be paid to J.ender. In the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Mortgage. with the excess. if any, paid m Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise agree in writing, there shall he applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking. with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim far damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed, Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the Property or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments. 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law. shall not he a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not he a waiver of Lender's right to accelerate the maturity of the indehtedness secured by this Mortgage. 12. Rtnwdies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity. and may he exercised concurrently. independently or successively. 13. Successors and Assigns Bound-. Joint and Several Liability; Captions. The covenants and agreements herein contained shall hind. and the rights hereunder shall imtre to. the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in !his Mortgage shall be given by mailers such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein. and (b) any notice to Lender shall he given by certified mail, return receipt requested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Mortgage shall he deemed to have been given to Borrower or Lender when given in the manner designated herein. IS. Uniform Mortgage; Governing Law; Severabilify. This form of mortgage combines uniform covenants for national use and non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering teal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can he given effect without the conflicting provision, and to this end the provisions of the Mortgage and the Note are declared to be severable. 1i. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or Lender may, at Lender i option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender shall request. If tender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 30 days ftom the date the notice is mailed within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period. Leader may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: I& Aeceknthsni Reane4' Except ss provided In paragraph 17 hereof, upon Borrower's breach of any covenant or t 8 of Borrower In this Morlifsp, Including Ike covenows to pay when due any sans secured by this Mortgage. Lester prier N sKSkratiaw Am rag notice 1% Borrower as provided in paragraph 14 hereof sdnecifyluR; (d) the breach; (3) the ""$a link -1 to coo such bronchi 13) a date. aw less thou 30 days from the date the notice is mailed to Borrower, bJ' which such breach muM be erred; and 141 limit failure to cure sock breach on or before the date specified in Ike nod" M" rasuN In week *ko of Ike sums secured by this M1lorlgtme, foreclosure by judicial proceeding mod oak of the Property. The teMke SAM further Inform Borrower of this tight to rehstate after acceleration mod the right to nosed in the forecloau" paeertding Ike no"atssence of a defaull or any other defense of Borrower to sectlermtion and foreclosure. If the breach Is nsrt toed on or before the dote specified In the notice, Lender at Lender's option may declare an of the sums secured by this MoAgmgr to he Immediately due mod paymbie without further demand and may foreckroe by judicial Proceeding. Lender rkoN be enrlekd 10 4701111#44 In suck rrwtetdlng 211 uproars of foreti(mure, icludfng, hid not Ifrmiled to, comm of docunteMsry evidence, abormtH and lick reports. H. BMtowires Night to Reinstate. Nulwtthshmdtng I vndcr'c .i-clesaum, ..t the Mums secured by thus Mortgage. Burrower brain have the right to have am praccednq,t hegun ht I order :o cnh -rte it— %f ... ivagc ttwo niwed at .env time