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r 83--001871 Lender's written agreement or applicable law. Borrower shall pay the amount of aJJ 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 Lender agree to other 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 ,ate 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. I~spection. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided that Lender shan give Borrower notice prior to any sllch inspection specifying reasonable cause therefor related to Lender's interest in the Property, 9. Condemnation. The proceeds of any award or claim for damages. direct or consequentia1. 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 the sums secured by this Mortgage, with the excess. if any, paid to Borrower. In the event of a partial taking of the Property. unless 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 that 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 notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to lender within 30 days after the date such notice is mailed, Lender is authorized to collect and apply the proceeds, at Lender" option, either to restoration or repair of the Property or te the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend or postpone the due date of the monthly instal1ments 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 interest of Borrower shall nor operate to release. in any manner, the liabiJity of the original Borrower and Borrower's slIccessors in interest. Lender shan not he required to commence proceedings against slIch successor or refuse to extend time for payment or otherv.'ise modify amortization of the sums secured by this ~fortgage by reason of any demand made by rhe original Borrower and Borrower's successors in interest. 1 t. Forbearance by Lender Not a Waiver. Any forbearance by 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 indebtedness secured by this Mortgage. 12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded by lav.' or equity. anu may he exercised concurrently. independently or successively. 13. Successors and Assigns Bound; Joint and Se,.eral Liability: Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to. the respective SlICCC"isors and assigns of lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants aoli 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 he used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to he given in another manner. (a) any notice to Borrower provided for in this Mortgage shall he given ny mailing such notice hy 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 shaH 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 to Borrower as provided herein. Any notice provided for in this Mortgage shaH be deemed to bave been given to Borrower or Lender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law: Severability. This form of mortgage combines uniform l'ovenants for national use and non-unifoml covenants with limited variations hy jurisdiction to constitute a unifornl security instrument covering real property, This Mortgage shall be governed by the law of the jurisdiction in which the Property is located, In the event that any provision or clause of this Mortgage or the Note Cl'")nflicts with applicable law. slIch conflict shall not affect other provisions of this Mortgage or the Note which can be given dIccl without the conflicting provision. and to this end the provisions of the Mortgage and the Note are declared te. he s.everable. 16. Borrower's Copy. Borrower shall be furnished a (',-'nformed copy of the Note and of this Mortgage at the time of eKeclltion 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. exduding (:.II the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation \."'If a purchase money SCi.:urity interest for household appliances. (el a transfer by devise, descent or by operation of law upon the death of a joint tenam or hO the grant of any leasehold interest of three years or less not containing an option to purchase, Lender may. at Lender's option. declare all the sums secured oy this Mortgage to be immediately due and payable. lender shall have waived such 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 th.tt the credit of such person is satisfactory to Lender and that the interest payable on the s.ums secured hy this Mongagc shall be at such rate as Lender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreement accepted in writing hy Lenuer. Lender shall release Borrower from all obligations under this Mortgage and the Note, If Lender exercises such option to accelerate. Lender shall mail Borro"Y.'er notice of acceleration in accordance with paragraph 14 hereof. Such notice shaH provide a period of not less than 30 days from the date the notice i~ mailed within which Borrower may pay the sums declared due. If Borrower fails to pay stich sums prior to the expiration ('if such period. Lender may~ without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof. NON-UNIFORM COVENANTS. Borrower and lender further covenant :.me agree as follows: 18. Acceler..ti(m; Remedies. Except as provided in pa~raph 17 hereof. upon Borrower's breach of any covenant or agreement of Borrower in this-1\'lor.~age" indudinlit the co'-enants to pay when due an~' sums secured by this !\1ortgaJl,e, LeDd~r prior to acceleration shall mail notice to Borrower as prm'ided in paragraph 14 hereof specifying; (1) the breach: (2) th~ action required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or before the dale specified in Ihe notiee may result in acceleration of the sums secured by this 1\1ortg"l:e, foreclosure by judicial prol'eedinll and sale of the Property, Tb~ notice shall. further infonn Borrower of the rillht to reinstate after acceleralion and the rillht to assert in the foreclosure Pl'Oeeeding the non-existenc~ of a default or any other defense of Borrower 10 acceleration and foreclosure, If the breach is not cured on or before the dale specified in the notice. Lender at Lender's option lIlaJ declare all of the s\lms sec\lred by thlsMortaaae 10 be immediately due and payable withOllt further demand and may foreclose by jndicial proceeding. Lender shall be eudUed to collect in sneh proceeding all expeoses of foreclosnre. including. hut nol limited to, costs nf documentary evidence, abol_15 and Iltle reports. 19. ~f.I'C)wer's -Rfcbt to Reill$late. Notwithstanding Lender's aCl.'clcralion of the sums secured by thi~ Mortgugc, Borrower s.hall have the right to have any proceedings hegun by I.t:ndcr w enforce thiS Morlgagc dis\;ontiollcu ~H any time