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<br />$4 -----sU-1042
<br />Lender's wntten agreement or applicable law. Borrower shall pay the amount of all mortgage' insuranct premitjhts in the
<br />manner provide) under paragraph 2 hereof. - - -
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon; shall- txcni,e additional
<br />indebtedness of Borrower orated by this Mortgage. Unless Borrower and Lender agree to otfiertertns of paytnen[. such
<br />amounts shall be payable upon notice from Lender to Borrower requesting. paytnenfthereoL-artd shall bear interest from the
<br />date of Jishursement at the talc payable from time to time on outstanding principal--onder-the Note unless paytoentof
<br />interest at such rate would be contrary to applicable law, in which event such".amounts shall-bear interest at the highest me
<br />permissible under applicable law. Nothing contained- in this paragraph 7 shalt require Lender to''incur any expenre ortake
<br />anyactionhereunder. - -
<br />8. Ittspectioe. Lender may make or cause to be made reasonableentries epon and inspections of the Property. provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable-cause-therefor related [o Lentlt~s
<br />interest in the Property.
<br />9. Condemnatbn. The proceeds of any award or claim for damages, direct or eonsegtrentisl:~ 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 Lender.
<br />1n the event of a total taking of the Property, the proceeds shall be applied to the arm;-reo[[red by this Mortgage.
<br />with the excess. if any, paid to Borrower. in the event of a partial takingof the Property.'uoless Borrower and. Lender
<br />otherwise agree in writing, there shall be applied to [he sums secured by [his Mortgage sock proportion of the proaeda
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with`41ie balance'of'the proceeds
<br />paid to Borrower. - "
<br />if the Property is abandoned by Borrower, or if. after notice by Lenderto Borrowerthatthe condemnor=eRen to make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender witfiin 30 days- after the~_-date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to .restoratiorr:or, repair of the
<br />Property or to the sums secured by this Mortgage.
<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 cfiange'-the'atnount of
<br />such installments. - "-
<br />30. Borrower Not Released. Extension of the time for payment or modification of amortization of-the sums.securcd.--
<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 suma-
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. "
<br />11. Forbearaece 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 any such right or "remedy.
<br />The procurement of insurance or the payment of rases or r,ther liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedes Cumulative. All remedies provided in this Mortgage are distinct and cumulative [o any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may he exercised concurrently. independently or successively.
<br />13. Successors aed Assigns Boand: Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and $orcower;
<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 for convenience only and are not to 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 he given by certified math return receipt requested. to Lender's address stated herein or to
<br />such other address as Lender may desi¢nate by notice to Borrower as provided herein. Aoy notice provided for.in this
<br />Mortgage shall be deemed [o have been given to Borrower or fender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Alortga¢e shall be governed by the law of the jurisdiction in which the Property is located. in tht
<br />event that any provision or clause of this Mortgage or the More conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mongage or the Note which can be given effect without the conflicting provision, and to 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 Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Tnmter of the Property; Assumption. If 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 (al the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money securing interest for household appliances, (c) 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 by this Mortgage to be
<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 a[ Bitch 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 dav_ s from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. Ir 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 6y paragraph 1 A hereof.
<br />Note-UNIFORM CovExertTS. Borrower and Lender further covenant and agree as follows:
<br />19. AecekrMioa; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agneaneM of Borrower in this MorlgaRe, including the covenants fo pay when due any soots secured by [his Mortpee,
<br />Leader prior to accekratfoe shall mail ttotke Io Borrower as provided in paragraph 14 hereof specifying: (p the 6rcach:
<br />(2) the action required to cure such breach; (3) a date, not leas than 30 days from the dale the notice is maihd to Borrower,
<br />by whirb ouch breach must 6e cured; and (4) Ihat faUure to cure such breach on ar before the dale specified in the notice
<br />stray retwlLia accekraliou of the sums secured by this MorlgaRe, forecMsure by judicial proceeding and sate of the Property.
<br />TM ooticeahW,tarlher inform Borrower of the right to reinstate after accelermion and the right to assort in the foteclosurc
<br />pro+reedi~ the mua-exblcace of a default or any other defetua of Borrower to accekrotion and foreclosure. It the breach
<br />fs wot curad on or before the data specified in the notice, Lender at Lender's option may declare all of the sums secured by
<br />this Morf~e l0 6e immediately due and payable without Further demaml and may foreclose by judicial proceeding. Lender
<br />shill be tathkd to collect in such proceeding all expenses of foreclosure, includhrp, hul nut IimNed to, costs of docwnentary
<br />evidence. abNtacts and title reporss.
<br />19. Bsrrowar's Rich[ [n Reiaatate, Nofwnhstandang Lender's acceieraton of the soma secured by this Mongage.
<br />Ilorrawer shall have it[a eight to have any prxeedingx begun by I.endcr iir enforce ehrs ".htortgagc Jisconumied ai any tune
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