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<br />84 --" 5-~0710
<br />Lender's written agreement or applicable taw. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts Disbursed by Lender pursuant a? this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by [his 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 en 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. Nmhing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />$. hrtrpectioe. i_ender may make or cause to he made reasonable 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 Lenders
<br />interest in the Property.
<br />9. Condemnation. Tire precceds of env award ar claim for damages. direct ar consequential, in connection with any
<br />condemnation or ether taking of the Property. nr part thereof. or far conveyance in lieu of condemnation, are hereby assigned
<br />and shall he paid to Lender.
<br />In the event of a Loral taking of the Property. the proceeds shall be applied m the sums secured by this Mortgage.
<br />with the excess, if env, paid to BOrrnwer In the event of a partial taking of the Property. unless Borrower and Lender
<br />otherwise agree in writing, there shall he applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to [hat propnrtiort which the amrnmt e( the sums cecured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Pmpcrty immediately pour to the date of taking, with the balance of the proceeds
<br />paid [o Borrower.
<br />if the Property is abandoned by Burrower. or if. after notice by Lender m Burrower that the condemnor offers to make
<br />an award or settle a claim for damages. Harrower fails to respond to 1_ender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and appiv the proceeds. at Lenderi option, either to restoration or repair of the
<br />Properly or to the sums secured by this Martgage.
<br />L`nless Lender and Borrower orheru•ise agree in writing, an7 such application of proceeds to principal shall not extend
<br />or pasfpone the due dare of the mar,thly installments referred to in paragraahs I and 2 hereof or cfiange the amount of
<br />such installments.
<br />10. Borrower NM Released. I'.xtensien of the nine for pavment or modification of amortization of the sums secured
<br />by this Mortgage granted h}• Lender to any st,ccessor m inrerea n( Borrower shall not operate ro release, in any manner,
<br />the liability of the original Borrower and Borroaver's successars in interest. Lender shall oat he required to commence
<br />proceedings against such successor or refuse to extend time for pavment ar otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of env demand made hr the origtnal Borrower and Borrower's successors in interest.
<br />11. Forbearance by lender Not a Wainer. Anv flvhcarance by Lender in exercising any right ar remedy hereunder, or
<br />otherwise afforded by applicable law, shall na! he a waiver n nr preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by lender shall oat be a waiver of Lender's
<br />right to accelerate the maturity of the indchtednecs molted by this Mortgage.
<br />12. Remedies Cumulative. •411 remedies prov,dre! :n this Mortgage are distinct anti cumulative to any other right ar
<br />remedy under this Mortgage or afforded irv law .,r egmtr. and may he cxerc reed cancurmnrly, indPprndemiy ar sttcressively.
<br />13. Sexcessors and Assigns Bound; Joint and Several i,iabdity; Captions. The covenants and agreements herein
<br />contained shall biol. and the rights hereunder shall inure m. she respective successars and assigns of Lender and Borrower.
<br />subject to the provisions of paragreph 17 hereof. .Ail covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings at the parag!~aphs of this Mortgage are for convenience only and are not to be used to
<br />interpret ar define the provisiaos hereof.
<br />14. Notice. Except for any notice required unetcr applicable law to be given in another manner. (a) env notice to
<br />Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Hcxn,wer may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall tee given hp certi6ad mail. return rece,pt requested, to Lender's address stated herein ar to
<br />such other address as Under may designate lay notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Harrower or I coder when given in the manner designated herein.
<br />I5. Uniform Mortgage: Governing Law: SeveraM'lity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited eariauuns by itu-iuhctian to constitute a uniform security instrument 'covering
<br />real property. This Margage shall he govcrncA trv the taw ut the iuri.d,ction in which the Property is located. In the
<br />event that aoy prevision ar clause of this Mortgage or the Note conflicts with applicable Inw. such conflict shag not affect
<br />other provisions of this Mnngage or the Note which ran be given etfeet without the conflicting provision, and io this
<br />end [he provisions of the Mortgage and the Vote are declared to he severable.
<br />lb. Borrower's Copy. Hormwcr shall he furnished a conformed copy a( the Note and of this Mortgage a[ the time
<br />of execution ar after recordation hereof.
<br />17. Transier of the Property: Assumption. It all or any pare of the Property or an interest therein is sold ar transferred
<br />by Borrower wifhow Lender`s prior written .onscnt, excluding tat the cmation of a lien ar encumbrance subordinate to
<br />this Mortgage. (b) the ca~atian of a nurchase monmy security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation o[ law open the death of a toim tenant or iJ) the grant of any leasehold interest of three years or less
<br />not containing an aptien ro purchase, Lender may, at i_endcr's option, delete all the sums secured by this Martgage to be
<br />tmmediately due and payable. Lender shall have waived such apron to accelerate if, prior to the sale or transfer. Lender
<br />and the person to whom the Yrapr^ny is us be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sum, secured by this Martgage shall he at such rate as Lender
<br />shall request. If l.endar has waived the option to accelerate provided in this paragraph 17, and if Harrower's successor in
<br />interest has executed a wnflen assumption agreement accepted in writing by I_endar, Lender shall release Aorrower from at[
<br />obligations under this Mortgage and the Note_
<br />}f Lender exercises such option to accelerate_ Lender si,all rout! Boroower ounce of acceleration in accordance with
<br />paragraph i4 hereof. Such nonce sha31 provide a peruxl of neat !ass [hare 3Q etay, from the date the notice is mailed within
<br />winch Hzurower may pxy ttee sums declared due. It Borrower iaifs ro pay such arms prior to the expiration of such peeled,
<br />Linder may', without funhar notice or demand nn Harrower. m+oke any remedies permuted by paragrxph I R hereof.
<br />Noz~.Uxt><aaxt Covrauxt.••rs. Borrower and Lender further cavenum and agree s iullows:
<br />1$. Acccfcration; Remedies. fiarcepl as provided to paragraph 17 hereoi, upon Borrower's breach of any covenant or
<br />agreerotnt of Burrower is this ritortgage, inrluding the covenants to pay when due any sums secured by this M1lorlgage,
<br />Lender prier !o accekratioo shag malt notice to Burrower as provided in paragraph 14 hereof specifying: (1) the breach:
<br />{2) lhs action required to cure such breach; f3) a date, nnl less than 3ti days from the data the notice is mailed to Borrower,
<br />by~ wideA rncb bleach roaet be cured; acrd t4) that failure ko cure such breach ao or before the dale speciticd is the trotice
<br />linty narrtk in arrekrattar pf the sums secured by this Mortgage, foreclosure by judicial proceeding utd sale of [he Property.
<br />"I'he twUes ah;f[fiyrtMtt in[txm Burrower of the rgtht ter reinstate after accekrafion and the right to a€vert in the forpa•Iarsure
<br />peoecedta$ the Wort eteicrence of a dc[auil or any other defemre of Borrower to acrelCratittu and forrclacure. If the brear6
<br />is trot estraf oa ur br-Tors tare dNe spe~+rifled in the notice, Leader at [tender's option may declare all of the sums susured by
<br />UnSS Alurl$tr$e to he tmajetllalely due Lind puyaMe without furtl,cr demuod urnl ntay Curerlrtss by judicial pnrcecdittg. l.,eirdee
<br />skaB $5 calijkd to collect to such proceeding all expcns~c of fvrreriusure. imiuding, tint oat Broiled to, cents aF docxnsen[ary.
<br />esGltarre, ttbtArartx ana ttlk reports.
<br />l!. r4rrorre~ Ri$bl to Rtairrstafe. ;vofwithsfstndtng l.er,der's :,vaslcrauou of the e:,nts sec tarzd t>v ,tin hfortxagm.
<br />Borrow+a shall havo the tight tc: have an} peas=rt'%ling Iwgten by l cruder dr, ar, fe~r<e the Mortgage ,hsc-anlanuesl as nny i,nae
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