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tender`s written agreemrn[ or applicable law. Borrower shat! pay the amount of all mortgage insurance premiums in the
<br />manner ptvided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant ro this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless $orrower and Lender agree to other temts of payment. such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall hear interest from the
<br />date of disbursement at the rate payable #rom rime to time on autstanding principal under the Node unless payment of
<br />interest at such rate would be contrary ro applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder,
<br />8. inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />tfiat Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award ar 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, are hereby assigned
<br />and shall he paid to Lender.
<br />in the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Mortgage,
<br />with the excess, if any, paid to Barrower. In the event of a partial taking of the Properh•, unless Borrower and i_ender
<br />otherwise agree in writing, there shall be applied m the sums secured by this Mortgage such pmporfian of the proceeds
<br />as is equal to that proportion which [he amount of the sums secured by this .'vortgage immediately prior to the date of
<br />taking bears to the fair market value of the property immediately prior to the date ~f taking, with the balance of the proceeds
<br />paid m Borrower.
<br />If the Property is abandoned by Borrower, ar if, after notice h7 i_ender ro Borrower that the condemnor offers to make
<br />an award or settle a claim fur damages, Borrower fails to resound to i.ender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and appty the proceeds. ai Lender's option, either to restoration or repair of the
<br />Propercv or to the sums secured by this Mortgage.
<br />Unless Lender and. Bortower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />ar postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment ar madification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
<br />the liability of the anginal Borrower and Bormwer's successors in interest- fender shall not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured bgthis Mortgage by reason of any demand made by the original Borrawer and Borrower`s successors in interest.
<br />71. Forbearartceby Lender Not a Waiver Any forhea:ance by Lender in exercising am right or remedy hereunder, or
<br />otherwise afforded 6y applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens ar charges by Lender shall oat he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Martgage.
<br />12. Remedies Cumuiadve. All remedies provided in this Mor[sage arc distinct and cumulative to any other right or
<br />remedy under this Mortgage. ar affarded by law ar equity. and maV he exercised concurrently. independently or successively.
<br />t3. 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 [-ender and Borrower,
<br />subject to the provisions at paragraph 17 hereof- All covenants and agreements of Borrower sha[i he joint and several.
<br />The captions and headings aE the paragraphs of this Mortgage are for convenience nn!}' and are not !a he used to
<br />interpret or define the provisions hereoF.
<br />14. Notice. Except For any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in ehis Martgage shall be given by mailing such notice by certified mail addressed to Borrawer 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 Lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to
<br />such ocher address as Lender may designate oy notice to Borrower as provided herein. Any notice pmvided for in this
<br />Mortgage shall he deemed to have been given to Barrawer or tender when given in the manner designated herein.
<br />15. Uniform A1ottgage; Governing Law; Severabili[y. `this. form of mortgage combines uniform covenants for national
<br />cue and non-uniform covenants with limited variations by jurisdiction to constitute a. urziform security instrument covering
<br />real pro~rt}'. This Mortgage shalt be governzd by [he law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the No[e conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />ehd the. provisions of the Mortgage and the Note are declared to he severable.
<br />I6. Borrower's Copy. Borrower shall ba furnished a conformed copy of the Note and of this Mortgage at the Time
<br />of execution or after recordation hereof.
<br />17. Tratrsfer 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 encumbrahce subordinate to
<br />ths.Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) atransfer by devise,
<br />descent or 6y operation of law upon the death of a join[ tenant or (d) the grant of aay leasehold interest of three years or less
<br />raecontaining an option. fo 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 sa]e or transfer, Lender
<br />and the, person to whom the Property i Io be sold ar 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 tale as Lender
<br />shag request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower ~ successor in
<br />interrsst'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 io accelerate, Lender shall mat] Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of oat less than 30 days from the date the notice is mailed within
<br />which-Horrowzr may. pay the sums declared due. if $orrow~er fails to pay such sums prior to the expiration of such period,.
<br />Lender,tnay, without further notice or demand on Borrower, invoke any remedies permitted by paragraph ] $ hereof.
<br />Norr-UNIFORM Covats4vTS. Borrower and Lander further covenant and agree as follows:
<br />1$. Acceleratfoa; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />aQreemenboEHorrower in thisMOrtgage, including the ca+enanls to pay when due any sums secured by this :vlortgage,
<br />Lender priorto acceleratiomshnllmail notice to Borrower as prorided in paragraph t4 hereof specifying: Ea) the breach;
<br />{2),the action required to cure such breach; (3) a-date, cot less than 3U days from the date the notice is malted to Borrower,
<br />by which such breach must'be cured; and {4) that failure to cure such breach an or before tiro date specr6ed in the notice
<br />pray result in acceleration of the sutras secured by this Mortgage, foreclcrsrtre by judicial proceeding and. sale of the Property.
<br />The noticeshnll further. inform. Borrower of the right to rcirutate after acceteratiou and the right. to assert in the foreclosure
<br />proceednag the non-existence of a default or any other deferrsc of Borrower to acceleration and foreclosure. If the breach
<br />is. not cured nn or before. tNedate specified. is the notice, Lender at [xndet's option Wray declare al! o[ the sums secured by
<br />NisMorigage tote immedrately due and;payabk without further demand and may foreclose by judicial proceeding. tender
<br />shallbeentitlcd to coliert in surh proceeding all expenses of fareclasure, including, bu4 not lin:iied to, costs of documentary
<br />er;deuce, alrstracta and title reports.
<br />19. Bocwwrer`s Right to Reinstate. Natwithstaading bender's accelerauon of ttrc 'ums secured by :his Riurtgagc,
<br />T~r[zower shall have the rigktt to hart any pn>cacdings 6c:gt~iaa L+y Lemdcr to cnlorce this Mcrtgagc a~scanuru;:d st any time
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