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<br />~ 82•.at~U2314
<br />Lender's written agteementor applicable law. Borrower shalt .pay the amount of all mortgage insurance premiums in the
<br />mannerpro~ided undecparagraph,2 hertbf.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of 13ormwer secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time, to time on outstanding principal-under the Nate unless payment of
<br />interest at such razz would 6e contrary to applicable law, in which.event such amounts*shall bear interest at'the highest rate
<br />permissible under applicable law: Nothing contained en'this paragraph ?'shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Tttspection. Lender maytnakeor cause to be made reasonable entries upon and inspections of the Property, provided.
<br />that Lender shall give Borrowernotice priortoanysuch inspectionapecifying reasonable causetherefor relatedto I:ender's
<br />interest in the Property.
<br />9. Condemnatbn. The proceeds of any- award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of he Property; or part hereof, or for conveyance in lieu of condemnation, arefiereby assigned
<br />and shall 1>c paid to Lender
<br />In the event of a total takjng of the-Property, the proceeds shall be applied o the sums secured by this Mortgage,
<br />with the excess, if any, patd to Bortower: 7n the event of a partial taking. of'the Property,' unless-Borrower .and Lender
<br />otherwise agree in writing. there shall be applied'to the sums secured by this Mortgage. such. proportion of the proceeds
<br />axis equal'..[o that. proportion which Yhe;amount of .the. sums secured by this Mortgage immediately prior to the: date of
<br />taking bears o the fair market value of the Property'itntnediately prior to the date of taking. with the ba{ance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or if, after notice by Lender 20 Borrower that the condemnor offers to make
<br />an awardbr settle a claim for damages, Borrower'fails to respond to Lender within 30 days. after he date such notice is
<br />'mailed, Lender is authorized to collect and Apply She proceeds, at Lender's option, either to' restoration or repair of the
<br />Property or t6 the sums secured by this Mortgage.
<br />Unleas Lender and Bortroweretfierwise agrce in writing,. any such application of proceeds: to principal. shall not. extend
<br />ocpostpone-the due. date o[ the monthly installments referred to in paragraphs 1 and 2'hereof or change the amount of
<br />such installments.
<br />I0. lionower Not Rehaed::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 Boaower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interesn Lender shall .not-he .required to commence
<br />praceedings'agains[ such successor or refuse'to extend .time for .payment or otherwise modify amortization of .the sums
<br />secured by rhisMortgage by reason of any demand made by the origtnal Borrower and Borrower's atccessgrs in interest:
<br />il. Rorbarancc h' Lender Not a Waiver. Any forbearance by Lender. in exercising. any- right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not ;be a waiver of or precffide the exercise of any'such right or remedy.
<br />The procurement of9nsurance or the payment of taxes or other liens archarges by Lendi:r shall not be a waiver of Lender's
<br />right to acceleratethe maturityof the indebtednesasecured bythis Mortgage:
<br />12. Reraedks Cumolstlrc. .All remedies provided in this Mortgage are distinct and cumulative to _any other right or
<br />remedy under this Mortgage nr afforded bylaw or equity, and tnay be exercised concurrently: independenttyorsuccessive]y.
<br />13. S~cckwon aad Asrrtgtts $onttd; Joint aad Several Liability; :Captions.: the covenants and `agreements herein
<br />con[ainedshall bind, and the rights hereunder shall inure to, therespecti4e successorsand assigns. of Lender andBorrower,
<br />subject to the provisions of puagraph l7 fiereoE All covenants and agreements `of ,Borrower shall be joint and several
<br />The captions artd headings of the paragraphs of this'Mortgage are for convenience only and are not to be'.used to
<br />interpret nr deRne 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 />Burrowecprovetfed for:in this Mortgagt shall be givers by mailing such' -totice by. certified-mail addressed' to Borrower at
<br />the Property Address Ior a[ such other address as-Borrower may. designate by notice ro Lender as provided herein,. and
<br />(b) any notice to Lender shall be given 6y terrified mash return receipt.requested: to 1 ender's address stated herein or to
<br />such other address as'Lender may designate by'notice to Borrower as'provtded hereto. Am notice provided for'in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when>given in the mannet designated herein.
<br />IS. Ueitornt Mottaafse; C.ovenLt6 Law: Severability. This form of mortgage combines aniform covenants for national
<br />use and.non:uniform covenants'wiih limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real propertt. This Mortgage hall be governed by the taw of he jurisdiction in which the Property is'located.' In the
<br />event !harany provision or clause: of this:Mortgage or the NoteconRicts rwithapplicahle`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 />end the provisions of the Mortgage and the'Note arc declared to be severable.
<br />If. Bomasrer's(Copr.- Borrower shall:be furnishedaconformedcopyof theNote and of 'this Mortgage at thctime
<br />of execution or afterrecordatiorc hereof:
<br />1?. TnudeeoftYe 1ho~etlyt.Arorption. If alloy any part of theProperty neon interest therein is sold or transferred
<br />by Bonower?withourLender's:prior written cortsent, excluding (a) the creation of .alien or encumbrance' subordinate to
<br />this Mortgage, (b) the crrationof a purchase money security-interest for household-appliances, (c) a transfer: by'devise.
<br />descent orby operatioiiof Taw upon the death of a yainttenant or (d) the grant of anyieasehold interur of three years or less
<br />not containing an option to purchase, I:endermay,Sat Lenders option, declare. al}the sums secured by this`Mortgage to be
<br />immediatelydue attd"payable. LCndec shall Fiavc waived suchcoption to acceleratef;ptior tothesale or traosfer,.Lender
<br />and the person to whom. the Property is to be sold or transferred reacfi agreement in writing ,that the credit of such person
<br />is satisfactory to Lender and that tht interest: payable on the stints secured. by this Mortgage: shall. be a[ such rate as, Lender
<br />shall request If Lender bas waived the option to accelerate provided in this paragraph 17, and: if Borrower's successor in
<br />interest has executed n wdttta' assumption agreement accepted in writing by Lender, Tjender shall release Borrower from a13
<br />obligations utxkrthis Mortgageartd theNote.
<br />If Lettderexercises such. option to accelerate, Lender shall mail Borrower notice: of acceleration in accordance with
<br />paragraph l4htteof°,Sttchnotictshallprovideaperiodof~at9ess-than z0 daysfromthedatethenotice'ismailedwithin
<br />which Borreu~er may pay tbe sums declared due. If Borrower faits to pay such sums prior to the expiration of such .period.
<br />Leader may, without. furthu tro[ice or demoted on:Borrower',-invoke any remediespermittedby. paragraph 13 hereof.
<br />NoN-UnrrottatCovsrc,ttvrs.Horrowerat~dLenderfurther covena:~tandagreeasfotlows:
<br />I8. Acceieratlon; Aemediea: Percept as proridad is paragraph 17 hereof, upat Borrower's breach of any coreuant or
<br />greenest of Barrower'ia this'Mort=age, includin8:lhccoscwrnh to pay:.wheadtce-any sumssecured bythis Mortgage..
<br />Lender prtor to accekratiott sha®rar7'aotiee to Borrower asprovided-in. paragraph 14 he[cofspecltyiug::.(t)'thr. bleach;
<br />(Z) the action rewired to euresreM breach;.l3) a date, cot less than 30 daysfram the. date the entice Is mailed to Iorrower,
<br />by wleic- sac- beach rat be cared; and (4) that failure to care such breach oa or hefore the date specified in the notice
<br />L mar tesuh a .cceleratlavt of 'rbe saata secured by this Mortgage, foreclosarz by jr[d'[rial proceeditg and sale of the Property..
<br />Ttx twdcc shag f»rtber esform Borrower of the right to reimlate after acceleration and 4he right to assets in the forcchtsurc
<br />proceeding tlee otetstdsteact ~ a defsuk or auy othix defcuse of $arrowa to acceieratlao aml fiorrcdosurt. u the' Dttach
<br />6 ant cared as or before the date specif3edia ttsc retire, Lender at Lender`s option may declare all aftlre sums secaredby
<br />M4 Morgage ao be imntrrdiatrfv due sadpayabte without furflter demand aad may foreekrseby..badiclat proaeedirig;. I.eadet
<br />straaN be entitled to collect in sash psoceediaR:all:experres of foreclosure. iacfodinR, naiaot: iimkcd to, enstsof documentary
<br />r•feieacc, aisLracts tnd titer repn[ts.
<br />t9. $orewrrers 12irGht to Reinstsle. Nc*twithstanding Lender's accclcrationof the s~~m~ st.,ircd by thin M:engagc,
<br />Horm~.er shalt have the right to have tilt procecdtngs :begun h}• Lender ic? cnfores this ~ti~r ;..,;c ~>>continued tit. any rime
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