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<br />Lender's written agttement or applicable law. Borrower shall pay the amount of ail mortgage insurance premiutru•.in-.the'- -
<br />manrter provided under paragraph Z hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become• addiCtonal
<br />indebtedness of Borrower secured by this Mortgage, Unless Barrower and Lender agree to other ttprfis~of payment;-such
<br />amounts shall be payable upon natice from Lender to Borrower requesting payment thereof, and shall Ixar interestfrom the
<br />date of disbursement at the rate payable from time to itme 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 rnntained in this paragraph 7 shall require Lender to incur any-expeme~or take
<br />any action hereunder.
<br />8. Inapectinn. Lender may make or cause to he made reasonable entries upon and inspectionsaf-thaPtoperty, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause-thereforrelated-to Lender's
<br />interest in the Property. --
<br />9. Condemnatlon. The proceeds of any award or claim for damages, direct or consequentia{, in connection-with any
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are. hereby'asaigned
<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 of a partial taking of [he Property, unless-Bovowerand-Gender
<br />otherwise agree in writing, there shall he applied to the sums secured by this Mortgage such proportion of the-proceeds
<br />as fs equal to that proportion which the amount of the sums secured by this Mortgage immediately- prior la.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 thr~procuds .,
<br />paid to Borrower.
<br />If the Property is abandoned by Barrower. or if, after notice by Lender to Borrower that the condemnor often to flake -
<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, bender is authorized to collect and apply the proceeds, at Lender's option. either to restoration or repair-~af'fhe----- -
<br />Property or to the sums secured h7 this Mongage. -
<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 1 and 2 hereof or change-theamntmt-of- - ,
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment ar modification of amortization of the sums secured-•-
<br />by this Mortgage granted by Lender to anv_ successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest Lender shall not he required to commence
<br />proceedings against such successor or refuse to extend time ter payment or otherwise modify amortization of [he sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />l 1. Forbearance by lender Not a Waiver. An7 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 t+y Lender shalt not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />1?. Remedies Cumulative. AlI remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or cyuny, and may tx exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound: Joins and Several Liability: Captions. The covenants and agreements herein
<br />contained shall bind, and [he rights hereunder shaft more to, the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof .All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are. ter convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice reyuired under applicable law to fie given in another manner, (a) any 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 ar 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 by certified mad. return receipt requested. In Lender's address stated herein or to
<br />such other address as Lender may designate by notice a? Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given ro Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; Sererability. This form of mortgage combines uniform covenants for national
<br />use anti non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. "this Mortgage shall be governed by the law ul the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mongage ar tfie Note crnt0icts with applicable law, such conflict shall net affect
<br />other prowsians of this Mortgage ar the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the `oic arc declared to he severable.
<br />16. Borrowers Copy. Borrower shall he furnished a amfornted copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Trartster of the Properly: Assumption. tf all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent. excluding lal the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (bl the creation of ^ purchase money securiq~ interest lur household appliances, (cl a transfer by devise.
<br />descent ur by aperation of law upon the death of a joint tenant or f.L the scant of any leasehold inerest of three years ar less
<br />not containing an option to purchase. 1_ender may, at Lender', option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lander shall have w;uved such opuun to accelerate if, prior to the sale or transfer, lender
<br />and the person to whom [he Properq• is to be sold or transferred mach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on rite sumx secured by this Mortgage shall be at such rate as I"ender
<br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br />obligations under this Mortgage and the No[e.
<br />If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shat! provide a period of nut lass than 30 days from the date the notice is moiled within
<br />which Borrower may pay the sums declared due. If Borrower L+ils ro pay such sums prior to the expiration of such period.
<br />Lender may, without further notice or demand on Borrower, urvnl.c any remedies pennn[ed by paragraph 18 hereof.
<br />Note-UNIFORM Covet+evrs. Borrower and Lender tiathe+ covenant and agroc as iollaws:
<br />18. AccelerWion; Remedies. Faccepl as provided in paraRropb 17 hereof, upon Borrowers breach of any covenant or
<br />agreement of Borrower in this Mortgage, incladittg the covenants h, pay when due any sums soured by this MorlgaKe,
<br />(..ender prior to aettkration shall mail tmtice to Barrower as provided in paragraph t4 hereof specifying: (1) the breach;
<br />(2) the aclitm required Io cure such breach; (J) a dale, not tesv than _lll days (ram the date the notice is mailed to Borrower,
<br />by which such breach must fie cured; and (4) that failure to yore such breach nn or before the date specified in the tmlice
<br />pray resuN in aecekration of the runts secured by ibis bforlgage, foreclosure by judicial proceeding and sale of the Properly.
<br />The notice shall further inform Borrower of the ri;tht to reinstate after arceleralwn and the right to assert in the Foreclosure
<br />prceta~blg the mtnwxistence aC a default or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />is not cured on or before the date specified in the natice, Lender at Lender's option may declare all of the sums secured by
<br />iius Mortgage fo he immediately dot amt payable without farther demand and ray furectase br jadirial proceeding. Lender
<br />shall bo eMkkd b collect in such proceeding a6 expenses of foreckrsurr, including, but oat IimNed w, costs oC documentary
<br />eviderax, shslraNs and title reports.
<br />19, Borruwer°s Rigid la RettrMale. Nrnwtthstandmg Lcnde+'s uueleiauun ,af tt+e aeons settrrcd by thiv Mortgage.
<br />Barrower shall haxe the right to have any pcctcedhigs Begun by l...nder to enti+rce thu At ortgage discoaum+cd al any time
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