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<br />83-oU1U44
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<br />Lender's written agreement or applicable law, Bo,rower shall pay the amount of all mortgage insurance premiums ig 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 Borrowe, 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 time to time on outstanding principal unde, 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 slIch 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 />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, unless Borrower and Lende,
<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 awa,d or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Lende, is authorized to coilect 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 paragraph, 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 shan not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or othen"ise 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 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 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 othe, right or
<br />remedy under this Mortgage or afforded by law or equity. and may be 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 hereun<f€r shall inure to. the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 he,eof. 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. 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 be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as B.orrower 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 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 />15, Uniform Mortgage; G9veming Law: Severability, This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real propetty, This Mortgage shall be governed by the law of the jurisdiction in which the Property is locat€d, In the
<br />event that any provision or clause of this Mortgage or the Note conllicts with applicable law. such conllict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conllicting provision, and to this
<br />end 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, 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 Lende,'s prior written consent, excluding (a) the creation of a lien 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 />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 Lender has waived the option to accelerate provided in this parag,aph 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 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 due, If Borrower fails to pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof,
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<br />NON-UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrowl!I' in this Mortgage, including the cm'enants to pay when due any sums secured by this Mortgage,
<br />Lender prior to acceleratioa shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach;
<br />(Z) the action required to cure such breacb; (3) a date, not less than 30 days from !be date !be notice is mailed to Borrower,
<br />by whicb such breacb must be cured; and (4) that failure to cure such breach on or before tbe date specified in the notice
<br />may result in acceleration of the sums secured hy this Mortaage, foreclosure by judicial proceeding and sale of the Property,
<br />The notice shall further inform Borrower of tbe right to reinstate after acceleration and the right to assert in tbe foreclosure
<br />proceeding the nolWXislence of a default or any other defense of Borrowl!l' to acceleration and foreclosure, If tbe breach
<br />, is _ cured on or before the date specified in the notice, Lender at Lender's optinn may declare aU of the sums secured hy
<br />this Mortllage to be immediately due and payable without furlher demand and may foreclose by judicial proceeding, Lender
<br />sball be enlltled to coUect in such proceeding all expenses of foreclosure, including, but not limited to, costs of documentary
<br />evldeace, aIlstraclsand IItIe reports.
<br />19. Borrowers Rllht to ReiDatate. Notwithstanding Lender's acceferation of the sums secured by this Mortgagc.
<br />Borrowet shan bave the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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