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<br />83-\) (J 1602
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<br />Lender's written agreement or applicable law, Borrowe, shall pay the amount of all mortgage insurance premiums in the
<br />manner provided unde, paragraph 2 hereof,
<br />Any amounts disbursed by Lender pursuant to this pa,agraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secu,ed 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 time to time on outstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable law, in wbich event such amounts shall bear interest at the bighest 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 cntries upon and inspections of the Property, provided
<br />that Lender shalf 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. arc 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. uoles!> 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 sllm~ secured hy 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 halance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrowe" or if. after nolicc by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails to respond to 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 tbe sums secured by this Mortgage,
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shaH not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments,
<br />to. 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 s.hall nm operate to release, in any manner.
<br />the liability of the original Borrower and Borrower's successors in interest. Lender 'ihall not he required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the slims
<br />secured by this Mortgage by reason of any demand made bv the original Borrower and Borrower's SlICCCS-'\Ors in interest.
<br />11. Forbearance by Lender Not a Waiver, Any forhearance hy Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law. shnlI nor 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 ('~ther liens or charges hy Lender shall not be a waiver of l.ender's
<br />right to accelerate the maturity of the indebtedness secured hy this Mortgage.
<br />12. Remedies Cumulative. AU remedies provided in this ~,1ortgage are distinct ami cumulative to any other right or
<br />remedr under this Mortgage or afforded hy law tlr equity, ~lOd may he exercised \:oncurrcnlly, independently or successively,
<br />13. Successors and Assigns Bound: Joint and Se"'eral Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective SHCCC")"iOrs ~md as.....igns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. All covenants and ag.reemcnts of Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Mortgage arc for ..:onvcnicnce only and ;Ire ntJ( h) he used to
<br />interpret or define the p,ovisions hereof.
<br />14. Notice. Except for any notice required under applicable laVo t(\ be given in another manner. fa) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing sUJ.:h notice j:!" certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate ~y notice to I.cnder as provided herein. and
<br />(b) any notice to lender shan be given by certified mail, relUm receIpt r~quesled, to l.endcr\ 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 tlJ Borrower or Lender \\'hen given in the manner designated herein,
<br />IS. Uniform Mortgage; Governing Law; Severability. Thi~ form of mongage \.'().mbines uniform covenants for national
<br />use and non~uniform covenants with limited variations by juri~Jiclion to constirute a uniform security instrument covering
<br />real property. This Mortgage shall he governed hy the law (-,.f the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this M(\ngage or the Note \."t'lltlkrs \\-ith applicahle law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can he given dTc(.( \\'ithout the conflicting pn.wision, and to this
<br />end the provisions of the Mortgage and the Note are dedared (.,) Pe :\cverable.
<br />16.. Borrower's Copy. Borro\\.er shall he furnished a \.'(lnfomlcd copy ('If the 7\lolC and of this Mortgage :Jt the tif!1e
<br />of esccution or after recordation hereof.
<br />17. Transfer of the Property; Assump.ion. If all t\r any part of the Pn'perty \)r an interest therein is sold or transferred
<br />by Borrower without Lender's prior wriuen ..:onsent, exduding ta) the ..:reation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money "ccllrit~ interest f\lr household "pplian....cs, (c) a transfer by devise,
<br />descent or by operation of law upon the death \.'1f a ,i(\int !cn.Hll I.'r Hh the gram (\f any le..,sehold interest of three years or Jess
<br />not containing an option to purchase, Lender may, at I cndt.~r",;;. l.)plt('lO. declare all the 'lurns se....ured by this Mortgage to be
<br />immediately due and payable. Lcnder 50hall hUH: \\~li\'ed ~lh:h \1ptil.1n Il\ a~~derate if. prior w the ~alc or transfer. Lender
<br />and the person to whom the Property is to be solJ I.)r transfl:rrt:'d reach ,lgrcem~m in writing that the ...'redit of such person
<br />is satisfactory to l.ender and that the interest payable on the ..urn.. :o.c~ured hy this ~.1ortgagc shan be at such rate as Lender
<br />shall request. If lender has waived the option to accekr~ite pro\-'ided in this paragraph 17, and if Borrower's successor 1n
<br />interest has executed a written assumption agreement al."Cepled in \\'ricing hy Lender. Lender shall release Borrower from aU
<br />obligations under this Mortgage and the Note,
<br />If Lender exercises such option tCl accelerate, Lender ,h<-lH mail Borrower notice i.1{ acceleration in accQrdance with
<br />paragraph 14 hereof. Such notice shall provide .1 period of nN less than 30 days from the date the notice j-; mailed within
<br />which Borrower may pay the sums declared due. If Borro\\cr fails to ray such ,urns pri(\r to the expimtion of such period,
<br />I..ender may, without further notice or demand on Borrower. lOVOJ..C ~IIlY r~mcdies pcrnlltleu hy panlgraph 18 hereof.
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<br />N()N~UNIFORM COVENANTS. Borrower and Lender funher cn\'cnanl and agree as follows:
<br />18. Acceleration; Remedies. Esc~pt as provided in pan'l(.aph 17 h...~of, upon Borrow..'s b.~ach of any COl'enant or
<br />agreement,. of Borrower ill tlais Mortgage, iocluding the co\'enants to paJ wbeu due an,., sums secured by this r\.1ortgBl:.c.
<br />.......... prior to ,",c~/cndIon shaD mail notlee to Borrowe. as pn"ided in p...."Kraph 14 he.eof specifying: (I) Ihe breach:
<br />(2) the. -.:tioa Rquiftd to cure s""h breacb; (3) a dale. nol '- Iban 311 days f....m Ihe date Ihe ..nlice i. mailed 10 Bo.....w...
<br />by wllieJ1Sl!<"b breacb must he CURd; aod (4) lbat failure tn cure sucb b''CDch on u. before the dale specified in lhe notice
<br />IlIjlY resuJtla acceletatioIt of tbe sums s<<ull!d by litis Mortg"Ke, for~e1osu.e hy judicial proceedlDJI and sale of the Properly.
<br />'fh!:.D4Mke sbaIl. hlnber laf_ Borrower uf lhe rlgbl 10 ",instale afte. accelen.tion lOud the righl 10 assert in tb. fo..e1osu",
<br />~ tbe_xlstelM:e of a defaull o. any nlhe. defense of Borrow.. 10 accel.ratiun and foreclooure, If Ih~ breach
<br />, Is DlIt c~ DB or before lile date specitied in tbe nollce. Ll>nd.. at Lender's nptlon may d~c1a..., all of the SUIUli secured by
<br />... ~ to be ImmecIlateIy due and payable ,dthuul fu.tb..r demand and may fn",,'I...e by judicial proceeding. I.~nder
<br />sbaIl be eatlde4 to culk<1la s""b proceedJaa aU npenses of foreel........,. iOeludlDJI. but nol limited to, c...1s of documentary
<br />evw-e, alIltrads _ tide re....rts.
<br />It... Bec-ro.-er'a.1UaW tCJi Re~e. Notwithstanding Lcndcf's ,K~ckfation of Ihe ,urn" sc\.:u(cd h)" rhls ~h)rt~iigC,
<br />Borrowtt $hall bave the datu to ha\'c any p(t~'1;."edjngs. hegun by L..'odcr to cnt"on;c IhlS. Mortgage lhscOt1I1H\ICd at :.lIlY lilTll~
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