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<br />$4 . G020~8
<br />Lender's wrntan agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provida:J under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become addHional
<br />~ndehtednes of Borrower secured by this Mortgage. l,nless Borrower and Lender agree to other terms of paymetif. streh,
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from the
<br />date of Jistxusement at the rate payable from time to time on outstanding principal under the No[e unless payment of
<br />interest at such rate would be contrary to applicable law. in which event such amounts shag bear interest at the highest rite
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any explnst°or fate
<br />any action hereunder.
<br />g. InspecHow. (.ender may make or cause to be made reasonable entries upon and inspections of the Property. providtid
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor-related toLender's-
<br />interest in the Property. -
<br />9. Condemmtbn, 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. arc hereby assigned
<br />anJ shall be paid to Lender.
<br />Tn the event of a total taking of the Property. the proceeds chaff be applied to the sums secured by this MOtigaee:
<br />with the ezcc<s. if anv. paid n, Borrower- In the event of a partial taking of the Property, unless Borrower artd'Lendter-
<br />otherwise agrce in writing, there shall be applied to the sums secured by this Mortgage sneh proportion of'the~-proceeds
<br />as is equal [o that proportion which the amount of the sums secured by this Mortgage immediately prior to-fire"dtftE of-
<br />taking beard to the fair market value of the Property immediately prior to the date of taking, with the balance of-the praeeetls
<br />paid to Borrower.
<br />if the Property is ahandoned by Borrower or if. after notice by Lender to Borrower that the condemnor olfefaYO-mate^
<br />an award or settle a claim for damages, Borrower fails to respond m Lender within 30 days after the date itxh'notice is
<br />mailed. Lender is authorized to collect and apply the proceeds. at [xnder's option. either to restoration or repair of ~tltt_
<br />Property or to the sums secured by this Mon¢age.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shell-not extend`
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the ammrM-Of-
<br />arch installments.
<br />10. 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 rcleax. in any manrter:
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shat) not be required to commence -
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the atmri
<br />secured by this Mortgage by reason of ,toy demand made by the original Borrower and Borrowers successors in interest.
<br />11. Forbearantt by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall rant he a waiver of ur preclude the exercise of anV such right or remedy.
<br />The procuremem 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 ~ndehtednecs seeureJ by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mort¢aee are distinct and cumulative to any other right or.
<br />remedy under this Mortgage or afforded by law or equitc, and may he exercised concurrently. independently or successively.
<br />17. Srecessors and AssiRrts Bound: Joint and Several I.iabFlily; Captions. The covenants and agreements herein
<br />containeJ shall hind, 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 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 />td. Noliee. Exttpt for an}• notice required under applicable law to fie given in another manner. (a) any notite_to
<br />Borrower provided for in this Morteage 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 Linder shall he given by xrtifieJ mad. return receipt requested, to Lender's address stated bercin or to
<br />such other address as Lender ma}~ designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have keen given to Borrower or Lender when green in the manner designated herein,
<br />15. Uniforrw Mortsaee; Governing Law; SeverabNity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with IimiteJ aanations by jurisdiction to constitute a uniform security instrument coveting
<br />real properq•. This Mortgage shall be governed M~ ;he law of the jurisdiction in which the Property is located. in the
<br />event that any provision or clause of this Mortgage r~r the Note conflicts with applicable law, such conflict shall not affect
<br />other provrsions of this Mortgage or the Vote whrch can he given affect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the emote are Declared to be severable.
<br />16. Borrower's Copy. Borrower ,hall he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />l7. Transfer of Ibe Property; Assumptloe. If all or an} part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent. excluding ta) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, fbl 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 )uutt tenant ur ' '
<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 waned Bach option to accelerate if, prior to the sale or transfer. Lender
<br />and the person to whom the Property is to be sold ur transferred reach agreement in writing that the credit of such person
<br />is satisfactory [o Lender and that the interest payable nn the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request, If Lender has waived the option tr accelerate provided m this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by LenJer. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Vote.
<br />If Lender exercises such option to accelerate. LenJer shell mail Borrower notice of acceleration in accordance with
<br />paragraph ld hereof. Such notice chali provide a penod of dot less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. It Borrower fails ro pay such sums prior to the expiration of such period,
<br />Lender may. without further nonce or Demand tin Borrower. invoke any remedies permuted by paragraph I8 hereof.
<br />Nore-UNIFORM Cover+evrs. Borrower and i-ender further covenant and agree as follows:
<br />10. Accekratioe; Remeditx .Except as provided is paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />asraeseat of Borrower le this Mory{age, including the covenants to pay when due any sums secured by this 11ortgttge,
<br />leader prior to accekrwan shall mail notice to Borrower as provided in paragraph 14 hereof specifyinS: (1) the breach:
<br />(1- lbe actiae required to cum such breach; 131 a date, not less than JO days from the date the notitt is maBed to Borrower.
<br />by wbicb such breach must he cured: and (i) that failure to cure such breach on or before the date specified in the aotke
<br />may result 1a acceleration of the sums secured by this ~lort)taae, foreclosure by judicial procredieg and sale of the Property.
<br />Tba adke shah ttutber inform borrower o[ the right to rcittslate after acceleration and the right to assert in the forceMsure
<br />proceedlp the iron-existence of a defwll or any other defense of Borrower to acttkration and foreclosure. If the breach
<br />is not cared on or before the date specified is rbe notice, lender at Lender's aption may declare a0 of the sums secured 6y
<br />ibis Mnrl~(e to fit immedlelely dire and pay'abk without further demand and rosy Foreclose by judicial proceeditts. Lender
<br />shall be ealitkd to ro0ert in sneh proveedlal; all ezprnses of Foreclasurr, iacluditrg, but not Ihniled to, rusts of documentary
<br />evidence, abstracts and tole reports,
<br />19. Borrower's RIyM to Reiustale. Vr=tw~thsiandurg I endcrb ..c:ekrat~nn ,,i the .um: eecured hs thrs Mot [gage.
<br />Born,w.r shaft have the tigb( k~ have ane prvicecdrngs Megan ; ; 1 ender !~ aritor.e this hlurrgagc Jra. ont;nueJ .rt an; pure
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