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r 83-005242 Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insuranc~ 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 shan bear interest from the date of disbursement at the rate payable from time to time on olltstanding 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 shan require Lender to incur any expense or take any action hereunder. 8. Inspection. 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 inrerest in the Property. 9. Condemnation. The proceeds of any award or claim for damages. direct or consequential. in connection with any condem-nation or other taking of the Property. or part thereof. or for conveyance In lieu of condemnation. are hereby assigned and shall be paid to Lender. Tn the event of a total taking of the Property. the proceeds shall be applied to lhe slims secured by this Mortgage. with the excess, if any. paid to Borrower, Tn the event of a partial taking of the Property. unless Borrower- and Lender otherwise agree in writing. there shaH 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 tak.ing 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. Jf the Property is abandoned by Borrower. or if. after notice hy 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 I 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 shan not operate to release. in any manner. the liability of the original Borrower and Borrower's successors in interest. Lender shalt not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sunis secured by this Mortgage by reason of rlny demand made hy the original Borrower and Borrower's SlIccessors in interest. 11. Forbearance by l..ender 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 other liens or charges by Lender shaH not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured hy this Mortgage. 12. Remedies Cumulative~ AU remedies provided in this Mortgage arc distinct and cumulative to any other right or remedy under this Mortgage or afforded by law or equity, ;Iod may he exercised concurrently. independently or successiveJy. 13. Successors and Assigns Bound; Join. and Sel't'ral Liability; CaptioR.<t. The covenants and agreements herein contained shall bind. and the rights hereunder shall inure [0. the respective successors and assigns of Lender and Borrower. subject to the provision~ of paragraph 17 hereof. All covenants ;lOd agreements of Borrower shalt be joint and several. The captions and headings of the paragraphs of this Mortgage arc for convenience only and are not to be used to interpret or define the provisions hereof. 14. Notiee-. Except for any notice required under applicable law to be given in another manner. (a) any notice to Borrower provided for in this Mortgage shall be given hy mailing <oUch notice ,",y certified mail addressed to Borrower at the Property Address or at slIch other addres~ as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt requested. to Lender's address stated herein or to such other address as Lender may designate hy notice to Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or l.ender when given in the manner designated herein. 15. Uniform MOI1Rage; Governing l.,aw; Se\'erabWty. Thi:-. form of mortgage combines uniform covenants for national use and non-unifonn covenants with limited variations by jurisdiction to c()nstilute a uniform security instrument covering real property. This Mortgage ",hall be governed hy the 1:1\... of the jurisdiction in which the Property is located. In the event that any provision or -clause of this Mortgage or the Note conflicts with applicable law. such conflict shalt not affect other provisions of this ~fortgage or the Note whi\:h can he given effect without the conflicting provision. and to this end the provisions of the Mortgage and the !\lotc are declared to PC severable. 16.. Borrower's Copy. Borrower shall be furnished a coniomlcd I,;OPY of the Note and of this Mortgage at the time of e~ecution or a fter recordation hereof. 17. Transfer of the Property; Assumption. If all or any part of the Property or an intcre-st therein is sold or transferred by BorH.l\lt.'er without Lender's prior wriu~o .;onsenl. excluding fa) the creation of a lien or encllmbrance subordinate to this Mortgage. (b) the creation of a purchase money :-icclIrity interest for household appliances. (c) a transfer by devise. descent or by operation of law upon the death \)f" joint tenant or (dl the grant of any leasehold interest of three years or Jess not containing an option to purchase, Lender may. at Lendcr\ l)ptlOn, declare all the sums secured hy this Mortgage to be immediately due and payable. Lender shall have waived slIch option to accelerate if. prior to the sale or transfer. Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the, credit of sllch person is satisfactory to Lender and that the interest payable on the sums secured hy this Mortgage shall be at such ratc 3S Lender shall request. If Lender has waived the option to ::u::cclerate provided in this paragraph 17. and if Borrower's successor in interest has executed a written assumption agreement accepted in wdling by lender. Lender shall release Borrower from all obligation.< under this Mortgage and the Nole. If Lender exercises such option to accclemte. Lender ..hall mail Borrower notice of acceleration in accordance with paragraph 14 hereof Such notice shaH provide a period of not Ic.ss than 30 days from the date the notice is mailed within whic~ Borrower ~..ay pay the sums declared due. If Borrov".cr fails 10 pay such sums prior to the expiration of such period. Lender may. without further notice or demand on Borrower. invoke <lny remedies permitted by paragraph 18 hereof. NON~UNJFORM COVEN.4.N1'S. Borrower .and Lender further covcnUllt and agree ;.l~ f01l0WS: 18~ Ac(:e~r,atiop; Reme4ies. Es:cept a.~ pro\'ided in pardRrapb 17 hereof, upon Borrower's breach of any covenant or aareelDJl'nt o-f Bo,..ow~,. 19, tlUs Mortgage, including. the covenants to pay when dlK any sums: secured by this Mortgage., Leacler prior to acceleralJe,..baU maD nollee to Borrow.. as pntfided in I'ar"l(raph 14 hereof specifying: (1) Ihe breach: (~ltil<o adl<m nquiftd toe......uth.lJnacb, (31 a date. not 1_ than 30 days from the date the nolic. is mailed to Borrower. I>y. ..bk:h $Uf:hbfeKb mllSt ... eured; and (4) Ihat failure to cure such breach 00 or before the dllle specified In Ihe nolice m-,yrUUltl..acc!'hrali!ta of.lb. sums secured by this Mot1llag.. foreclosure by jodidllll'ffi,,,edl"l( and sui. of lhe Property. TIIe,..ckJe"'*'!ftlrt_rlalorm Borrllwor of the riJlbtto r.l.nstal. afler acceleralion and Ihe right 10 ",,,er! io Ihe foreclosure ~ ,._ ftQA..eX-w.D(' of a ,del.ult or any other- defense uf Borrower to acce-le-ratlOtJ and forec.:losure., If the breach itl.... ...., "" orbefll~ I_ d1IIll specified in Ih. nolk.. Lender al t...tdor'. option may declare all of Ihe sums secured by .. M'otIl!IIllJe 10 _ ~l8t.ly due and payable ,../lhuul fnrtltu d._nd aod may foreci...e by Jodlelall'_eedi"ll. L.nder ... he e~. 1O<oI/ert I.. sucbprO<OedIIlll. alIupe....,_ of foreclosllre. illcludlllll. but not limited In, eosts of docum.ntary "1tIa<<.___lllIdtltle r...u- IJ. _ ~dl .... to ~k. Notwlthf>tandlng L~nder'& ;J,c..:-elcr-atloH of the ..urn~ s.ccured by this M-ortg~g~" aot'tQWe_c -man ha_vt tbe right to ha\'~ any pu:)Ccwings be_~un by Lender to crdorcc fhl\ Ml)ng~gc diKootinllcd jl{ any time