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<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums ip 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 be 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 lime 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 />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 such 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 conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />1n 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, 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 io that proportion which the amount of the sums secured 6y 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, nr 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 m 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 Ehis 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 t 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 shalt not operate to release. in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. 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 made by the original Borrower and Borrowers successors in interest.
<br />1. Forbeuaace 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 be 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 no[ be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this ltfortgage.
<br />12. Rernedies Cumulative. At] remedies provided in this Mortgage arc 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 and 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 he used to
<br />interpret or define the provisions hereof.
<br />t4. Notice. Except for any notice required under applicable law in be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Burrower ma}' 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 i.endeis 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 />MorFgage shall be deemed to have been given to Borrower or fender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non-unifomt covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the taw 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 Nate which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note arc 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. Troosfer 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 taI the creation of a lien or encumbrahce subordinate to
<br />this Mortgage, (b) the creation of a purehasc money' security interest for household appliances, {c) a transfer 6y devise,
<br />descent or by operation of law upon the death of a 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 be at such rate as Lender
<br />shall request, if Leader has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written asstamption agreement ac[:epted in writing by Lender, Lender shall release Borrower from all
<br />obligateons under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared dtte. If Borrower fails to pay such sums prior to the expiration of such period,
<br />Lander may, without fitrther notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Non-Uwipoatt Crn~snanrs. Borrower and Lender futther covenant and agree as follows:
<br />t& AcceiesaHoa; Remediac. Fseept ~ provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />aptemsot of Borrower is this Mortgage, iaelndirtg the covenants to pay when due any sums secured by this 1lfortgage,
<br />Gtadar prior b aectkrafioa sisQ trtaii aot~ iv a.. mow-- as prvviued in gars graph ti hereof specifying: (1) the breach:
<br />(Z) tie actilat regtdred to cart each breach; (3) a data not less than 30 days from the daft the notice ix maned to Borrower,
<br />by which each breach Host be cared; gad ($) fiat faqure to cure sash breach oa or before the date specified in the notice
<br />raq texdt hr rtccdenttba of the sates ttecured by ibis Morit<at{e, foreclosure by judicial proceeding and salt of the Property.
<br />'ells aotict 86aU tutther Eafotm Borrower of the right to reinstall after acrtlerMioa and !fie right to assert in the foreclosure
<br />M~ the aoaexldetree of a delartlt or goy other defeast of Borrower to accekratioa gad foreclnsnre. [f the breach
<br />Y asst !acrd as or geftue the daft apecl8ed is the aotke, lender at header's opt&u[ may decLre ail of the sums secured by
<br />fide bt(ortytdt to ba ~ dot gad payable wlfhout farther demand and may forechtse by jttdkial procttdiag. Lender
<br />Ned 6t esUHed to eotlat ba sacs proceednag aB ttcperwes of [oreciosure, includhsg, but cwt liarittd to, costs of documentary
<br />atldaace, alltatracla and t44r rtpor4.
<br />i4. Bs[trs+wat`a Right to RaiaWSe. Notwithstanding t~ndar's acceterar+on of the sums secured by this I4lortgage,
<br />BarrOwar shstii have the r)jiht to have any prrceedings laegun by [_endtt to enforce th+s Mortgage discontintmd at any time.
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