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83-U01906 Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under pa,agraph 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 shaH be payable upon notice from Lender to Borrower rCCjuesting 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 cause to be made reasonable entries upon and inspections of the Property. provided that Lender ShfilI give Borrower notice prior to any such 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 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 the SlIms 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 slIch proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this 1\-fortgage 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 eoUcet and apply the proceeds. at Lender's option. either to restoration or repair of the Property or to the sums secured hy this Mortgage. Unless Lender and Borrower othen\'ise agree 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. Barrower 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 not operate to release. in any manner. the liability of the original Borrower and Borrower's successors in interest. Lender "hall not be required to commence proce~dings against such successor or refuse to 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 Wahler. Any forbearance by Lender in exercising any right or remedy hereunder. or otherwise afforded by applicable law, shall not he 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" secured by this Mortgage, 12. Remedies Cumulative. All remedies provided in this ~fortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded hy law or equity. and may he exercised concurrently. independently or successively. 13. Successors and Assigns Bound; Joint and Se\'erat Liabilit).': Captions. The covenants and agreements herein contained shall bind. and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreemenls of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mortgage are 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 law tCI be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall he given hy mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as BorrO\vcr may designate by nOlice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail. return rcceipl 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 shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uniform 1\1ortgage; Governing Law: Severability. This form 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 Mortgage or the Note conflicts \I,,.ith applicable iaw, such conflict shall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this end the provisions of the Mortgage and the Note are declared to be severable, 16, Borrower's Copy, Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Property; Assumption. If all or any p"rt of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consenl, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of " purchase money security intcrest for household appliances, (c) " transfer by devise, descent or by operation of law upon the death of a joint tenant or (0) 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 by this Mortgage to be immediately due and payable. Lender shall have \\'aived stich 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 is satisfactory to Lender and that the interest payable on the sums secured hy this Mortgage shall be at such rate as Lender shan 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 by Lender, Lender shaH release Borrower from all obligations under this Mortgage and 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 Borrower fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower. invoke any remedies permitted hy paragraph 18 hereof. NON~UNtFORM COVENANTS. Borrower and lender further covenant and agree as follows: 18, Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement ,of Borrower in this Mort2,age, including the ('o".enants to pay when due any sums secured by this i\lortgage. Lender prior to acceleration shall mail notice 10 Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (1) the action required to cnre such breach; (3) a date, nolless than 30 days from Ihe date Ihe notke is mailed 10 Borrower. by which such hreach must be cured; and (4) that failure to cn'e such breach on or before Ihe date specified in Ihe notice may result inaeceleration of the SUIllS secured hy Ihis Mortgage. foreclosnre by jndiciol proceeding aud sale of Ihe Property. The notice shloll further Infom. Borrower of Ihe riltht 10 reinslate after acceleration and the rilthl to assert in the foreclosure proceediP& Ihe non-exislence of a default or auy other defense of Borrower to acceleration and foreclosure. If the hreaeh is not cured on or before the date speeified in Ihe notice. Lender at Lender's option may declare all of the sums secured by this l\1ortme to be immediately due and payable without furlher demand and may foreclose by judicial proceeding, Lender shall be entilled to collect in such proceeding all espenses of foreclosure, including, bul nol Iimiled to, ,'osts of documenlary evldeace. abstracts and title reports. -.9. Botrt"wer's- Riaht to_ Reinstate. Notwithstanding Lcnder's acceleration of the sums secured by this t\'1ortgagc. Horrowt;r shall have the. right to have any proceedings hegun by Lender to cntorcc thIS Mortgage discontinued at any tlme