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<br />84 ~-- t~v 1036
<br />Lender's wnu:n agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amotmts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional
<br />indeMedncss 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 />g. Inspection. fender 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 Lender's
<br />interest in the Properly.
<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 Loader.
<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 Aormwer. 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 that proportion which the amount of the sums secured by this Mortgage immediately prior to the date oP
<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 [he Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor oReta<to make-
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after they 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 by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writine, any such application of proceeds ro principalsh8tl .not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or changes:fhe, 8monnt of
<br />such installments. - ~ -
<br />lg. 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 not operate to release,. in any :manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the -soma
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. -
<br />If. Forbearance by Lender Not a Waiver. 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 anysuch right'or-remedy. - ,
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's .
<br />right to accelerate the maturity of the indehtedness secured by this Mortgage.
<br />12. Remedies Cumulative. Atl remedies provided in this Mortgage are distinct and cumulative to any other-right-or
<br />remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently. independently or successively.
<br />13. Successors and Assigns Boand: Joint and Several Liability; Captions. The covenants and~:agreements herein
<br />contained shall hind. and the rights hereunder shall imme to, the respective successors and assigns~bf Gender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shag- be- joint and several.
<br />The captions and headin¢s of the paragraphs of this Mortgage are for convenience only -and .are-, not an be 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 shall he given by mailing such notice 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 by certified maih return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender may desi¢nate by notice ro Borrower as provided herein. Any notice; Provided for in this
<br />Mortgage shall be deemed [o have been given to Borrower or lender when given in the manner designated herein.
<br />t5. Uniform Mortgage; Governing Law; Severabilily. This form of mortgage combines uniform covenahts for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform. security instrument covering
<br />real property. This Mortgaee shall be eoverned by the law of the jurisdiction in whicfi the Propety is located. In the
<br />event that any provision or clause of this Mortgage or the Note rnnflicts with applicable law, such conflictshall not affect
<br />other provisions of this Mortgage or the Nnte which can be given effect without the conflicting provision; and Qo this -- -
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgages-at-fheaitnes -
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. if all or any part of the Property or an interest therein is soldortransferred`.-
<br />by Borrower without Lender's prior written consent. excluding !a) the creation of a lien or encumbrance sufiordinate to -
<br />this Mortgage. (b) the creation of a purchase money security interest for household appliances, (cL a. transfer- by. devise;; -,-
<br />descent or by operation of law upon the death of a joint tenant or
<br />Lender may, at Lender's option, declare-all the sums secured 6y thin;Mortgage to lie
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to-the sale or transfer, Lender
<br />and the person to whom the Property is to 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 sums secured by this Mortgage shall be at such rate'as Lender
<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 Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. if Borrower fails ro pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Nox-UNIFORM CoveNeNrs. Borrower and Lender further covenant and aeree as follows:
<br />18. Accekration; Remedies. Except as provided in paragraph t7 hereof, upon Borrowers breach of any coveaanl or
<br />agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by Ihis Mortgage,
<br />Leader prior to accekrattoo shag mail notice to Borrower as provided in paragraph 14 hereof specifyhtg: (1) the breach;
<br />/2)1he actioa reQuircd 1© cure such breach; (3) a dale, not less Than JO days from the date fhe notice is maikd to Borrower,
<br />by whkh such breach must be cured; and (4) that failure to cure such breach on or before the date specified in fhe notice
<br />ttpy result in acceeration of fhe suns secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property.
<br />The ootks shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the forecloetrrc
<br />proceednag the noasxistence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />is ~aM cumd oa or before the dale specified in the notice, Lender at Lender's option may declare all of the sums secured by
<br />this Mortgage to be immediately due and payable without further demand and may foreclose Dy judicial proceeding. Lender
<br />stroll be eatttkd to colkct in such proceeding all expenses of foreclosure, including, but not limited to, costs of docmnenfary
<br />evidence, abstracts aad lisle reports.
<br />19. Borrowers Right to Refrslate. Notwithstundtng Lender's acceleraton of the sums secured by this Mortgage,
<br />Aorrower shalt have the right to have as}' proceedings lxgun L>y tcndar to enforce thts Mon~gagc diyconumitd at any umc
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