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I 83- 001670 Lender's written 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 lende, agree to othe, terms of payment, such amounts shall be 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. 8. Inspection. Lender may make or calise 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 inte,est 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 lender, In the event of a total taking of the Property, the proceeds shall be applied to Ihe sums secured by this Mortgage, with the excess, if any. paid to Borrower. In the event of a partial taking of the Property. unles.s Borrower and Lender otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to Ihat proportion which the amount of the sums secured hy 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 nolice hy lender to Borrower that the condemnor offers to make an award or settle a claim for damages. Borrower fails to rcspond 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 agrec 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 1 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 imerest of Borrower shall not operate to release. in any manner. the liability of the original Borrower and Borrower's successors in interest. Lender shan not be required to commence proceedings against such successor or refuse tel 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 hy Lender in exercising any right or remedy hereunder. or otherwise afforded by applicable law. shall not be 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 "hall not be a waiver of Lender's right to accelerate the maturity of the indebtedne~s secured by this Mortgage. 12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulativc to any other right or remedy under this Mortgage or afforded by law (lr equity. and may he exercised concurrently. independently or slIccessively. 13. Successors and Assigns Bound; Joint and Senoral Liabilif)!; Captions. The covenants and agreements herein contained shall bind, and the rights hercunder shall inure w. the respectivc SllCCes.sors and assigns of Lender and Borrower, subject to the provisions of paragraph t 7 hereof. AU covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mortgage arc 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 la\'.- (0 be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing 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 be given by certified mail. return receipt requested. to Lender's address stated herein or to such other address as Lender may designate by notice h' Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law; Se,'erability. This f0rm of mortgage combines uniform covenants for national use and non-uniform covenants with limited variations by .iurisdiction to constitute a uniform security instrument covering real property. This Mortgage shall be governed hy the law of the- jurisdiction in which the Property is located. In the event that any provision or clause of this ~1ortgage or the Note l;qnfticts with applicable law. such conflict shall not affect other provisions of this Mortgage or the Not~ which can be given etlect without the conflicting provision. and to this end the provisions of the Mortgage and the Note are declared to be severable. 16a Borrower's Copy. Borrower shall be furnisheu a conformed copy of the Note and of this Mortgage at the time of eKccution 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 (a) the creation of a lien or encumbrance subordinate to this Mortgage. (b) the creation of a purchase money security interest for h(lllschold appliances. k) a transfer by devise. descent or by operation of law upon the death of a joint tenanl or h.H the grant of any leasehold interest of three years or less not containing an option to purchase. Lender may. at l.ender's option. declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall have waived slIch 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 js satisfactory to l.ender and that the interest payable on the sums seclIred hy this Mortgage shall be at such rate as l.ender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's slIccessor in interest has executed a written assumption agreement accepted in \\- riting by l.ender. Lender shall release Borrower from all obligations under this Mortgage aud 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 from the date the notice is mailed within which Borrower may pay the sums declared due. If Born)\\e-r fails to pay such slims prior t() the expiration of "uch period. Lender may, without further notice or demand on Borro\\'cr. lllvoke any remedies permitted hy paragraph 18 hereof. NON~UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 18. Acceleration; Remedies. E.,cept as provided in para~raph 17 hereof, upon Borrower's breach of any covenant or agreem.ent of Borrower in this I\'lortgage, induding the cO\'(~l)ants to pa,)' when due any sums secured by this l\'lortgage. Leader prior to acceleration sball mail notice to Borrower as pnnided in paragraph 14 hereof specifying: (I) the breacb: (2) the action required to cure SDcb breach; (3) a date, not less lhan 30 days from the date lhe nolice is mailed to Borrower, by wbkb oucb b~cb must he cured; and (4) lbal failure to cure such breach on or hefore lhe date specified ill lhe nnlke DUlY result in acceleration of tbe Sllms secured by lhis MortgBlle. foreclosure by judicial proceeding aud sale of the Property. The notice sball further inform Borrower of lhe right 10 reinstale afte, acceleration and the right to ....ert in the foreclosure pro<:eedlntl lhe ooo-existence of a delault or any other defense of Borrower to accele,alinn and loreclllsure, If the breach is not cured 00 or before Ibe date specified in lhe notice. Lender al Lender'. oplloll may declare all nf the SIlIllS secllred by IhIIi ~ort&ace 10 be IlIlmerliatcly due and payable wlthoul fnrther demand aod may foreclose by jlldicial proceediBll' Lcnder sballbe ...Ulleclto ('<IlIect In such proceeding all expenses of foreclosllre, includloR. hill nol limited to, co.'1s 01 documentary ...I....e, ~l$ and title rcports, I'... Borrower'. Ri&bt to Reinstate. Notwithstanding Lender's acccleraH.:.-'O or {'he ~nrns secured t'1y this Mortgage. Borrower shaJl have the- right to have any proceedings hegun by Lt'oder to enforce this 1\hJrlgagc dis~,,-)J1qn.lIed at any time