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<br />P2-° ~~072~.
<br />Lender's written agreement or applicable iaw_ Borrower shall pay the amount of alt mortgage insurance premiums in the
<br />manner provided under paragraph Z 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 Barrewer and Lender agree to other terms of payment. such
<br />amounts shalt be payable upon notice from Lender to 8armwcr requesting payment thereof, and shall bear interest fram the
<br />date of disbursement at the rate payable fram time to time on outstanding principal under the Nate unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable taw. Nothing rnntained in this paragraph 7 shall require Lender to incur any expense ar take
<br />any action hereunder.
<br />8. Inspection. Lender may make or cause ea be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrmver notice prior to any such inspection specifying reasonable cause therefor relaeed m Lender's
<br />interest in the Property.
<br />4. CoatdemnatMn. The proceeds of am' award or claim for damages, direct or consequential, in connec tan with any
<br />condemnation or ether takin¢ of the Property, or part thereof, or far conveyance in lieu of condemnation, are hereby assigned
<br />and shat] be paid to Lender.
<br />Tn 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 Borrawer. In the event of a partial taking of the Properly, unless Rormwer and Lender
<br />otherwise agree in writing, there shall be applied [n the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior ro the date of
<br />taking bears to the fair market value of the Property immediately prior to the date of •aking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. ar if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim far damages. Borrower fails to respond [n Lender within 30 days after the date such notice is
<br />mailed, Lender is aut'',irized to collect and apph~ the proceeds, at tender's option, either to restoration 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 fo principal shalt not extend
<br />or postpone the due date of the monthly instalments referred to in paragraphs 1 and 2 hereof or change the amount off
<br />such installments.
<br />Ip. 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 svccessor in interest of Borrower shall not operate to release, in any manner.
<br />the liability of the original Borrower and Bormwer's successors in interest. Lender shall not he required 4a commence
<br />proceedings against such successor or refuse to extend time far payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by [he original Borrower and Borrower's successors in interest.
<br />ll. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising ar.p right or remedy hereunder. ar
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right ar 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 />i2. Remedies Cumulative. Atl remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may he exercised concurrently, independently er 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 [o the prowisions of paragraph 17 hereof. All covenants and agreements o[ Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Mortgage err far convenience only and are not to he used to
<br />interpret or define the provisions hereof.
<br />14. NoHee. Except far any notice required under applicable taw to be given in another manner. !a) any notice to
<br />Borrawer provided far in this Mor[gag.^, shall be given by mailing such notice by certified mail addressed to Harrower a[
<br />[he 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 shalt be given by certified math rehtm receipt requested, to Lender's address stated herein o~ to
<br />such other address as Lender may designate by notice to Borrower as provided hereto. Any notice provided fog- Lr this
<br />Mortgage shat! be deemed to have been given to Borrower or ].ender when given in the manner designated herein.
<br />I5. Uniform Mortgage; Governing Law; Severabda~. This form of mortgage combines anifarm revenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to cons[inrte a unifom; secwrty instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. 1n the
<br />event that any provision or clause of this Mortgage or the Note amfliMS with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Naas 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 he severable.
<br />16. Borrower's Capy. Borrower shalt be 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 ail or any part of [he 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 severity interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a join tenant or (d} the grant of any leasehold interest of three years or less
<br />not containing an option [o purchase, Lender may, at Lender's option, declare al[ 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 r; quest. if Lender has waived the option 4o 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 Borrawer notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 34 days fram the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower falls io pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrawer, invoke any remedies permitted by paragraph i S hereof.
<br />i`:.^.,•-.,..,:....,.t .~'..^.. n.,..,.=5. °a..awe*.-nd I e~rirr fttrrher rat
<br />_. enant and a~rge as follnws~
<br />18. Acceleration; Remedies Except as provided in paragraph (7 hrreoF, upon Borrower's breach of any covenant or
<br />agreement of Burrower in iius .oigage, inciadiug aha .^:srrrrr. ; to i•a; w:awn due art..• come see:rred by this Mortgage,
<br />].ender prior to accekration shag maaT trotice to Borrower as provided in paragraph t4 hereof spetifying: tl) the breach;
<br />(Z) the action required to cure such breach; (3) a date, not less than 30 days frrom the date the notice is mailed to Borrower,
<br />by which sorb. bleach must be cured; and (4} That failure to cure such breach on or before the date specified in the notice
<br />may rasttliin acceleration of the sums secured by this 11ortgage, foreclosure by judicial proceeding and sale of the Property.
<br />'The ootice shag further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the. non-exigence of a default or anp ether dvfeme of Borrower to arcelersttion and foreclosure. tf she breach
<br />ia. not cured on or befom the date specified in the nu#ire, Leszaer at Lender's option may declare a!i of the sums secured by
<br />thin \•IurtgaYe to ire #mmediafely due and payable without further deettand and tnay foreclosr ny judlciai proceeding. Linder
<br />shall be entitled to colkrt in such proceeding ail expenses of foreckcsare, including, boa not limited ta, rests of dorunsentary
<br />evidence, ahstraets. and title repoedv.
<br />19. Burmwtz's fE~,ht to Reinstate, Notwithstanding i_cuder's accelersucn i7f t1}c .ums secvrrd by this kforigagr..
<br />Borr;7is'tr stall have the right [a have. aaty px>tin. c'•edings bzguro by ixndec t.: enftrrce ehes Mvngagr disco+n t:nucd at airy tsrne
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