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<br />Lender's written 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 amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, -suefi-
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear, interest from fhE' - -
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payttte+tt of -:- -
<br />interest at such rate would be contrary io applicable law, in which event such amounts shall bear inkerest at the highest raft
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expetlsr_ortake-
<br />any action hereunder. -
<br />S. inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prim to any such inspection specifying reasonable cause therefor related~~fo Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connecdon:wifh 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 />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. Tn the event of a partial taking of the Property, unless Borrower: and-I;epdcr
<br />otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion.ofthe procetda~ -
<br />as is equal to that proportion which the amount of the sums soured by this Mortgage immediately -prior-to. the date-;tif.---
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance-of the,proceed9-
<br />paid to Borrower. ~ -
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor ofl`ela~to.make!-•
<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, Lender is authorized to collect and apply the proceeds, at Lender's option, either [o restoration or repair,,.of-the- -
<br />Property or to the sums secured by this Mortgage. -
<br />Unless Lender and Borrower otherwise ae nee in writing. any such application of proceeds to principal shalt not Extend;.. -
<br />or postpone the due date of the monthly installments referred to in paragraphs ]and 2 hereof or change--the amount of --
<br />such installments. - -
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the.sumssecured
<br />by this Mortgage granted by i.ender to any successor in interest of Harrower 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 commpnee: --
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the autos.
<br />secured by this Mortgage by reason of any demand made h}• the original Borrower and $orrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. •4ny forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of 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 not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies p«wided in this Mortgage are distinct and cumulative [o any other right or
<br />remedy under this Mortgage or afforded be law or equity, and may he exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound; 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 Borrower,.
<br />subject to the provisions of paragraph 17 hereof. All cavenants 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 6e used [o
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice reyvired under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or a[ such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(h} any notice to Lender shall he given hp certified mail, return receipt requested. to L.ender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided- for in 4his
<br />Mortgage shall he deemed to have been given to Borrower or Tender 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 Mortgage shalt be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage nr the Note conflicts with applicable law, such conflict shah not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />end [he provisions of the Mortgage and the Note are declared to be severable.
<br />16, Borrower's Copy. Borrower shat! he furnished a conformed copy of the Note and of this Mortgage at the time
<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 sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a} the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b} the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or (di the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, 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 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 I-ender. I-ender shall release Borrower from ail
<br />obligation under this Mortgage and the No[e.
<br />1f 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 daps from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior «+ the expiration of such period.
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1,C' hereof.
<br />Nox-UNtt=oant Covetvnnis. Borrower xnd Lender further covenant and agree as lollows:
<br />18. Accelerat[on; Remedies. Except as provided in paragraph 17 hereof, upon Borrowers breach of any covenant or
<br />agreement of Borrower in this Mortgage, including the covenants to pay when due anp sums secured by thi: Mortgage,
<br />Lender pr[or to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach;
<br />(2) the nation required to wre such breach; (3) a dale, not less Htan 30 days from the date the notice is mailed to Borrower,
<br />by which such breach must be cured; and !4) that failure to cure such breach on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this ~lorlgaQe, foreclosure by judicial proceeding and sale of the Yropert}'.
<br />The ootlce shall further inform Borrower of the right to reiuslalr after acceleration and the right to assert in the foreclosure
<br />proctedirte the non-existence of a default or any other defense of Borrower to acceleration and [oredusure. If the breach
<br />is not Gored on or before /he dale specified in the notice, Lender at Lender's option may dedore all of the sums secured by
<br />thin Mortttage to be [mmed[alety due and payable wifiwtl further demand and may fnredose 6y judicial proceeding. Lender
<br />shah 6e entigrd to collect in such proceeding all expenses of kneclosure, including, bat oat limited to, cos7s of Jocmnentary
<br />evldencc, ahstracts and title reports.
<br />19. dwrowers RIRbI to Reinstate, Ncxwithslandmg i. endtr's ~+ccelerauon i,t the sums secured by chic 'vtorfgage.
<br />Bouower shall have the right 4o havC any proceedings ixgwt by !_endet iu enfaree this Mortgage ilCs~ontinued at an} «mc
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