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<br />$t} - 1)00363
<br />Leader's written agreement or applicable law. Borrower shall pay the amount oT all mortgage insurance premiums in the
<br />manner provided under paragraph 2- hereof.
<br />Any amounts disbursed by bender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borcower and Lender agree to other terms of payment, such
<br />amounts snail be payable upon notice Erato Lender to Borrower requesting payment thereof, and shag bear interest from the
<br />date of disbursement a[ the rate payable from time 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 [he highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to ingot any expense tar take.
<br />any action hereunder. - -. -
<br />8. inspection. Lender may make or cause to he made reasonable entries upon and inspections of the Property, provided -
<br />[hat Lender shah-give Borrower notice prior to any such inspection specifying reasonable caose therefor related to L:ender's
<br />interest in the Property.
<br />4: Condemnation. The proceeds of any award or claim for dama¢es, direct or consequential, -in connection-with any
<br />eondemnation_orofher 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 Lender
<br />otherwise agree in writing, there sfialt 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 fo the date of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with [he balance of the proceeds
<br />paid to Borcower.
<br />If the Property is abandoned by Burrower. 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 to respond to [.ender 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 this Mortgage. - -
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall no[ extend
<br />or postpone the due date of the monthh~ installments referred to in paragraphs 1 and 2 hereof or change the amount of -
<br />sttch installments.
<br />IB. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender *.o any successor in interest of Borrower shall not operate to release, i^ any manner,
<br />the liability of the origioal Borrower and Borrowers successors in interest. Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend *.ime for payment or otherwise modify amortization of the sums
<br />secured by this Mongage by reason of arn' demand made by the original Rorrower and Borrower's successors in interest.
<br />ll. Forbearance by Leader Not a Waiver, Any forbearance by l ender in exercising any right ar remedy hereunder, or
<br />otherwise afforded by applicable taw, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of tares or other liens or charges by Lender shall not he a waiver of Lender's
<br />right to accelerate the maturity of the indehtedness sxured 6y this Mongage.
<br />i2. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
<br />•emedy under this Mortgage nr afforded by law ar eyuity. and miry he exercised concurrently, independently nr successively.
<br />I3. Successors and Assigns $ound; Joint and Stceral Liability: Capflons. "the covenants and agreements herein
<br />contained shall bind,'and the rights hereunder shall inure to. the respective successor; and assigns of i..ender and Borrower,
<br />subject tc the. provisions of paragraph 17 hereof. All covenants and agreements of Burrower shall be joint and several.
<br />The captions and headings of the paragraphs cf this i•4nngagc arc for convenience only and are not ro be used to
<br />interpret or define the provisions hereof.
<br />I4. Notice. Except for any notice reyuiad under applicable law ur be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shag he given by mailing such notice M• certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may dtsienatc by notice to Lcndcr as provided herein, and
<br />fb} any notice to Lender shall tx given by certified mail, return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender may designate h}' notice to Burrower as provided herein. Any notice provided for in this
<br />Mortgage shalt tx: deemed to have been given to Borrower or I ruder when given in the manner designated herein.
<br />I5. i;niform ;tortgage: Governing haw: Stverability. this font of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction t+~r cuostitute a unii'otnt security instrument covering
<br />real property. This Mortgage shaii be governed by the law of the jurisdiction 4n which the Property is located. 1n the
<br />evert that soy provision or clause of this Mongage or [hc Ne7te contiias w-itfi applicable law, such conflict shall not affect
<br />other provisions of this Mongage or the Notc which au+ be given cHret without the conflicting pros~sion, and to this
<br />end the provisions of the Mortgage and [he 'vote are declared to he sevtrahlt.
<br />16. Borrowers Copy. Aorrawer shall he furni<hed a canhrrmed copy of the NoM and of this D4ortgage 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 Borcower without Lender's prior written consent, excluding (u) the creation of n lien or encumbrance subordinate to
<br />this hfortgage, (bl the creation of a purchase money security interest for household appliances, (cl a transfer by devise,
<br />descent or hp operation of law upon the death of .t joint tenant er (d) the grant of any leasehold interest of three years or teas
<br />not containing an option to purchase, Lender may, at Lender's option, declare alt the sums secured 6y this Mortgage to he
<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 cr 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 br this Alortgage shall be at such rate as [.ender
<br />shalt request If Lender has waived the option ro accelerate provided in this paragraph 17, and ii Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from alt
<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 I4 hereof Such notice shall provide a period of not less than }(i days trem the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If borrower faits to pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Rorrower, invoke :fey remedies permitted by paragrapfi 1 R hereof.
<br />NoN-IJt3IFORM Covetrnxrs. Borrower and t_tnder further covenant and agrce as toBnws:
<br />1& Accekratioa; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covtoant or
<br />agreement of Sorrawer in this ti7ortgage, inclttditrg the cuvenaNs to pay whin due any sums secured try this Fiorigage,
<br />I,trtdtr prior to aectSeratian skaB mail trotice to Borrower as provided in paragraph 14 hereof specifying: (i) the breach;
<br />{Z) the action regaietd to care shah breath: (3) a dale, not itss than iii days from the date the notice is mailed to Borrower,
<br />by wkfck Eck-_brrack most oe owed; and t4i that failure is tart such kreach on or before the date speciiitd in iht no8ca
<br />tasY rtwk-in accdergiioa of the sums soured- by this Mortgage, fortcMsure by judicial proceeding and salt of the Property-
<br />'t>bta:aalkar ahaB toriher inform-Borrower oC the rgtht to reinstate after aceeitration and {ht rigkt to assert in the foreclosure
<br />pr~catedio~ the non-axisttace of a default or any ether dtfeme of Borrower to acceteralicn and faretiosure. If the trreaeh
<br />k trot cored un-w before the dale speriNed in the notice, l,endrr at Lender's option may deciarc alt of the soars sentrtd by
<br />skis b>sortjsge to be ]tttmcdiately due mad paYabG¢ w][hoat further demarul and cosy foreclose by jtrd#rial proceeding. i.ettder
<br />sbtt-t bo tntitktd to rattler in wok proceeding aB exptoses of foreclarurt, tm:ind'sng, but nW pmited ht, casts of documentary
<br />ar~ttrcro. trbArscie and fitk reports.-
<br />t9, dorrrtrrttr'x RigAt is Rtittatah. F*totwitWstand"rug Ixnder's ucceteratian of ttte sums secartd by this Mortgage.
<br />Borrower shall kavt~ tilt right to iravt any procttdingx 6t~wt t!t- i.ender E.y enforce this Mortgage d±scvntinurd at any tams
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