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83-004343 Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. InSpeetion, Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided 'that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for damages. direct or consequential. in connection with any condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation, are hereby assigned imd shall be paid to Lender. In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage. with the excess, if any. paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceeds. at Lender's option. either to restoration or repair of the Property or to the sums secured hy this Mortgage. Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner, the liability of the original Borrower and Borrower's successors in interest Lender shall not he required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Forbearance by IA>nder Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder. or otherwise afforded by applicable law. shall not he a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or olher liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this 1\10ngage. 12. Remedies Cumulative. All remedies pro\'ided in this Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently. independentl\' or successively. 13. Successors and Assigns Bound; Joint and Several Liability; ('aptions. The covenants and agreements herein contained shall bind. and the rights hereunder shall inure to. the respeclive successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of tbe paragraphs of this Mongage arc for convenience only 'lOd are not to be used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in anolher manner, (a) any notice to Borrower provided for in Ihis Mortgage shall be given b\' mailing ,uch notice by certified mail addressed to Borrower al the Property Address or at such other address as Borrower ma\' deSignate by notice to Lender as provided herein. and (b) any notice to Lender shan be given by certified mail. r~lum receipt icquested. to Lender's. address stated herein or to such other address as Lender may designate by notice to Borrov.'cr as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when gIven in the manner designated herein. 15. Uniform MortRage; Goveming Law; SeH?'rability. Thi~ f0rm of mortgage l'ombines uniform covenants for national use and non~uniform covenants with limited variations by jllristJicth.-m ro constitute a uniform security instrument covering real property. This Mongage shall be governed hy the 1'1" or the iurisdiction '" which the Property is loealed. ln tbe event that any provision or clause of this Mortgage or the Note c(mtlict-s with applicahle law, sllch conflict shall not affect other provisions of this Mortgage or the Note whit:h can be given etfect without the conllicting provision, and to this end the provisions of the Morlgage and the ~ote are deelared to be ,,'verable. 16. Borrower's Copy. Borrower shall be furnished a c<'"formed copy of the Note and of this Mortgage at the time of eKeculion or after recordation hereof. 17. Transfer of the Property; Assumplion. If all or any part of the Properly or an interesl therein is sold or transferred by Borrower without Lender's prior written consent. excluding lal the creation of a lien Of encumbranl;c subon.linate to this Mortgage, (b) the creation of a purchase money security Inlerest h'r h<'"sehold appliances. (c) a transfer by devise. descent or by operation of law upon Ihe dealh of " joint lenant or idl the grant of any leasehold interest of three years or less not containing an option to purchase. Lender may. at l.ender's option. declare all the sums. secured by this Mortgage to be immediately due and payable. Lender shall have waived such oplion .<, accelerale if. prior to the sale or Iransfer. Lender and the person to whom the Property is to be sold or transferred reach agrecmenl in Yo flting that the credit of such person is satisfactory to Lender and Ihal the interest payable on Ihe swns secured by this Mortgage shall be at such rale as Lender shall request. If Lender has waived the option to accelentte provided in Ihis paragraph 17. and if Borrower's successor in interest has executed a written assumption agreement aecepted in writing by Lender. Lender shall release Borrowcr from all obligations under this Mortgage and the Note. If Lender exercises sllch option to accelerate. l..~nder ,hall mail Borrower notice of acceleration in alcordancc with paragraph 14 hereof. Such notice shall provide" period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period. Lender may, withoul further notice or demand on Borrower. invokc any remedies permitted by paragraph I ~ hereof. NqN-UNtFORM COVENANTS. Borrower and Lender further covenant and agre~ as. follows: 18. Acceleration; Remedies. Exeepl as provided in paragraph t 7 hereof. upon Borrower's breach of any covenant or agreelllent of Borrower m this Mortgage, Including the covenanls to pay whell due an~ sums secured by this Mortgage, Len4er, pt;ior 10. 8C<<'Jeratiou shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (l) the breach; (2) the,actjon required 10 cure such breach; (3) .. dale, not less than 30 days from the date the notice is mailed to Borrower, hy ....JUchsuch lml~h must be cured; and (4) Ihat failure 10 <'Ore such breach on or before the dale specified in the notice ~ ~in .uccelerationof the SUUlS se"ured by Ihis MortgaKe, foreclosure by judicial proceeding and sale of Ihe Property. ~~ .......furtherlnform BDrl'<lwer of the riRht 10 reinslale after acceleration and lhe righl to ",...ert in Ihe foreclosure ~~iII'" !lQ~xlsl.n(C of. a ~r.ull or any other defeose of Borruwer to acceleration and foreclosure. If the breach .1uSOl cured QRO~ befOl'\'the dale specified in the notice, l.ender all,ender's oplion may ded..r. all of the sums secured by lhlsM~1: to. be ImlDediJU"y due and payable withoul further demand and may foreelose by judicial proceeding. t.ender ~he.~ to, eOllectm such pI'O<'cedmll all .~pense. of fore<:l<J!\ure, Including, but nol limited to. costs of documenlary e~e,~ts llItd IIde~. 1~. ~u'. Ri&lIt to RdMtate. Notwith,tanding Lcnder', a~celerallt,ln ,;f the Slln" secured by \hi, Mortgage. BorrQWer shall have the r18l1t to have any prOceedings begun hy lendu 1<> enforce thi, Murtgllge Jhconlinl1eG ilt any t.me