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<br />83-0()178.~
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<br />lender's written agreement or applicable law. Borrower shall pay the amount of ai: mortgage insurance premiums in the
<br />manner provided under 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 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 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 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 calise to be made reasonahle 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 />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 (If a partial taking of the Property. unless Borrower and Lender
<br />otherwise agree in writing. there shall be applied to the sums secured hy this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured bv 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 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 the sums secured b~' 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 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 shall nO[ 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 otherwise 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 />1 t, Forbearance by Lender Not a Wah'er. Any forbearance by lender in exercising any right or remedy hereunder. or
<br />otherwise afforded by applicable law. 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 taxes or other liens or charges hy Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness ,;ccured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage CiTe distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded hy law or equity. and may be exercised concurrently, independently or successively.
<br />13. Successors and Assigns Bound; Joint and Se"eral l.iability; 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. :\11 covenants and agreements ('If Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience l.."1nly and are not to he 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 shaH he given oy mailing stll.:h noti~e by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given hy 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 Borro\\'cr or Lender when given in the manner designated herein.
<br />IS. Uniform Mortgage; Governin~ Law: Se\'erability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations b.y jurisdictil.'1n to constitute a uniform security instrument covering
<br />real property. lllis Mortgage shall be governed hy [he law of the Jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this r-.1ortgage or the !'h'lte (I..'Bllicts with applicahle law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note whi..:h can b~ given cfi'\.~ct wilhollt the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Notc are declared ill be severable.
<br />16. Bonower's Copy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of escclltion or after recordation hereof.
<br />17. Transfer of the Property; Assumplion. If all Of any part of the Pr0pcrty or an interest therein is sold or transferred
<br />by Borrowcr without Lender's prior written consent. excluding (al the l,.'rcation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money st.'curity interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint t~nam or tdl the gram of an)! lcasehold interest of three years or Jess
<br />not containing an option to purchase, l.ender may. at Lender\. I..'pti!.-")n, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall han' waived Slh.::h option 10 accderate if. prior to the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or transkrrcrl reach agreement in writing that the credit of such perso:1
<br />is satisfactory to Lender and thai the intere5t payable !.-'1n the slims "ecurcd by this Mortgage shall be at such rate as Lender
<br />shall request. If lender has waived the option to acceler.th: provided in this paragraph 17. and if Borrower's successor in
<br />interest has executed a written assumption agreement ac..:eptcd in writing by Lender. Lender shall release Borrower from all
<br />ohligations under this Mortgage and the Note,
<br />If Lender exercises such option to accelerate. Lender ...hall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hercof. Such notice shall pruvide a pcri(~J ('f IK'[ less than 30 d:.lYs from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If BorrO\\~r fails to pay such __urns prior to the expiration of such period.
<br />lender may, without further notice or demand ('Ill Borrower, invoke any remedies permitted hy paragraph 18 hereof.
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<br />NON-UNIFORM COVENANTS. Borrower and l.ender further c~)\'cnant ar:d agree as follows:
<br />18. Accelf'ration; Remedies. Except as provided in par~raph 17 hereof, upon Borrower's breach of any ('ovenant or
<br />agreement of Borrower in this I\lorlgage.. including the cO\'lman~s to pay when due an,y sums secured by this i\'lorlg8J:,e,
<br />Lender prior to acceleration shall mail notice to Borrower as prt)\'ided in para~raph 14 hereof specifying: (1) the breach:
<br />(2) the action required to cure such breach; (3) a date, not less than 30 days from the dale lhe notice is mailed to Borrower,
<br />by which such breach must be cured; and (4) that failure to cure such breach nn or before the date specified in the notice
<br />may resullin acceleration of the sums s.cnred by lhis Mortgage, foreclosure by judicial proceeding and sale of the Property,
<br />The notice shall further inform Borrower of the ri~ht to reinstate after .ux'elcration and the riRht to as..wrt in the foreclosure
<br />prtM:eedin& the non-e.xistence of a default or any other defense of Borrower to accderation and foreclosure. If the breach
<br />. is not cured on or before the date specified in the notice. Lender at I.ender.s option ma,}" declare aU of the sums secured by
<br />this !\Iorlgaae to be immediately due and payable wilhout further demand and m.~ foreclose by judicial proceeding, l,ender
<br />sball be entitled to coiled in such proceeding aU expenses of foreclosuft" including. but not limited to. costs of documenta..)'
<br />evidence, abstracb and title reports.
<br />19. Borrower's Ri&bt to Reinstate. NOlwithsr.~nding I.ender's a~..;clcr.ati{ln iA the sums secured hy Ihis Mortgage.
<br />Borrower shall have the righl to have any prO\:cedings hcgull by Lt:nder tn cntor..:e 111I" Mi,,1rtgagc disc\.mtinucd ;)t any time
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