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<br />$2~ U(:,235~
<br />l.endtr's writtertagreement or applicable taw. BorrowEr shall pay the amoun4 of atl mortgage insurance premiums in [he
<br />manner provided under paragraph 2 hereof.
<br />Anyamouhtsdishursedby-i_etider pursuantto this paragraph 7, with interest [hereon, shall become. additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment; uch
<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. rata payable from time to time-oq outstanding' principal :under the Notc untess payment of
<br />interest at such rate would be'contrary to applicable law: in which event such amounts shall bear interest af'the highest rate
<br />permissible under: applicable law; Nothing contained in this paragraph 7 shall require Lender to incur any:expense or take
<br />say action hereunder:
<br />8._;,htspec[ion.. Lendermaymakeor cause to be madareasonable entries upon andinspections of the Property provided
<br />tfaf 1.eoder shall give Borrower ponce prior to any such inspection specifying reasonable cause therefor related to .Lender's
<br />interest Sn the Property.
<br />9: CottdemoaMon. Thepraceeds of any award or claim for damages, direct or consequential, in connectionwith any
<br />condemnation or other taking of the'Property: or partthereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shalt be paid to Lender.
<br />hi the event of a total taking pf the Property. the proceeds shall be applied to the sums secured by this Mortgage:
<br />with the excess, if any; paid to Borrower. in the event of a partial taking of the Froperty; unless Borrower and Lender
<br />otherwise agree in-writing,"thereshall lie. applied to thesums securedbythis Mortgage suchproportionofthe proceeds
<br />as is equal`to that proportion which the amount of the sums secured by this Mortgage. immediately prior to the' date of
<br />takingbears to thefair marker;value of the. Property immediately prior to ihedate of taking..withYhe balance of the proceeds
<br />paid to Borrower.
<br />bf the.Property is abandoned bvBorrower, orif, after notice by Lender to Borrower that the condemnor offerseo make
<br />an award. or settle a claim ter damages; Borrower fails to respond to Lender within 30 days after the date such. notice is
<br />mailed. Lender is authorized to collect and. apply the proceeds; a[ .Lenders option:, either to restoration or repair of ,the
<br />Property or to the sums secured h4 this Mortgage.
<br />tJnlessLender and:Borrower otherwise agreein writing, any such application of proceeds to principalshall notextend.
<br />or postpone the due data of the- monthly installments referred to in paragraphs land-2 hereof or change the amount of
<br />`.. such installments..
<br />IIL Borrower Not Released; Extension of the time for payment or modification of amortization of the sums secured
<br />bythisMortgagegranted by Lender to.any successor in interest of Bomower shall net operate to release..in any manner,
<br />the liability of the original. Borrower and Borrower's successors in :interest tender shall not be required to cgmnrence
<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 the original Borrower-and Borrower's successors in interest.
<br />11. ' Forbeara~eebyi.ender Not a :S'aiver. Any forbearance by.Lenderin exercising any right or..remedv hereunder; or
<br />otherwiu afforded by applicable.law, shall no[ be a waiver of ar preclude the exercise of any such right;or remtdy.
<br />`The procuremenYOf insurance or the payment of taxes ar other liens ar charges by Lender shall noY be a waiver of Lender's
<br />' tight to accelerate tFic maturity of the indebtedness secitred,byrhis Mortgage.
<br />t2. Remedies Comalathe. All remedies provided-in this Mortgageare distinct and cumulative to any other-right or
<br />remedy under this Mortgage or a(fordedby !aw or equity. and may he exercised concurrently; independently, orsitccessively.
<br />~13. Snccetuon::atad A~rrs-Bound: Joint.andSeveral Liabt7ity;CapNons:. The:covenants and agreements.:herein
<br />contained shall bind.; and the rights hereunder shall inare to, the respective successors and. assigns of Lender and Borrower:
<br />subject to the provisions of paragraph 17 fiereof. All covenants and. agreements of Borrower shall be joint and 'several.
<br />The captions, and headings of the paragraphs. at this. Mortgage are for convenience only and are not m be used to
<br />interpret or define the pravisions`heroof.
<br />14. Notice.`Except for any notice required under applicable lawao be given in another manner,_(a) any notice to
<br />Borrower provided foe in this Mortgage: shall Ile given by mailing Such notice by certified mail` addressed to Borrower.. at
<br />'..the Property Addressor at such: other address as Borrower may des:~nate by notice to Lender as provided hereip,:and
<br />fb} any notice torLender chap be given by certified math. return .receipt: requested. to .Lender's address stated hereid-or to
<br />such other address as Lender may designate by notice to Borrower as provided'Fierein. 1ny riotice provided for in this
<br />-. MarigagecshalLbe deemed to:havebeen given to Borrower or Lender. when givenin the manner'designated:herein.
<br />15. Un{farmMorteaRe;Governiughaw; Severalr8ify. Thisformof mortgage cambinesuniformcovenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This: Mortgage shall be governed. 6y [he law of the jurisdiction in which the. 'Property: is located. In [he
<br />even6thar any provision. orclause bf this Mortgage or the Note conflicts with applicable law, such conflict shall not affec¢
<br />other provisions of this Mortgage or the Note<which can be given effect without the conflicting provision.'and to flits
<br />end the provisionsoftheMortgage andthe-Nate aredeclared [o:be severable.
<br />16. Eoerowe2s Copy.. Borrower: shalt be furnished a conformed' copy of the Nate and of'this Mortgage at the time
<br />oEexecution' or after recordation hereof.
<br />17. Transfer olthe 1'roperty;Assuraption.. if allot any part of the Property or an. interest therein is sold or transferred
<br />by: Borrower withoutlxnder's:. prior wrttcn consent, excluding ta) the creation of a lien or. encumbrance subordinate {o
<br />this Mortgage, (b)abe creation of a pu[chase money `security. interest for household: appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or {dl the. grant of any easehold interest of three years or less
<br />:not containing an optiontopurchase;.Lender may;at.Lendera option, declare all theaumssecured by this Mortgage lobe
<br />immediately due and. payable: Lendershalt .have waived sucti. option to accelerate if., prior [e the sale or; transfer, Lender
<br />and the person to whom the Property is to be sold oL transferred. reach agreement in writi ng that the credit of such person
<br />is satisfactory to Lender and that the interest payatite on [he sums secured by this Mortgage shall be aC shch rate. as Lender
<br />shall request, if Lender has waived the. option to accelerate provided in this paragraph ]7, and lF Borrower's successor in
<br />~nterestha_< executeda wriitenasspmption: agreement`acceptedin writingby Lender,Lender shall reisase Borrower fromall
<br />obligations under this Mortgage and the Note.
<br />If Lender e~arcises suchoption toy accelerate,: Lender steal! malt. Borrower notice-of acceleration in'.accordance with
<br />paragraph. 14 hereo€: Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may. pay the'sums declared: due. IfBorrowetfails to pay. such sums..priarto the,expiration of suchperiod,
<br />Lender may, without further notice or demand on Borrower,, invoke any remedies permitted by paragraph 18 hereof..
<br />NGM-U K[fottan CovetvA2:rs. Borrower .and Lenderfurtheccovenaat andagree asfollows:
<br />18. Accekratioo;Rettredies.Fscepl,asprovided'nparagraphf7hereof,~~pon.Borrower'sbreachofanycovenant-or
<br />agreement of Borrower in this :Mortgage, ochtding Ibe covenants to pay:. when due any sums secured 6y this. Mortgage,
<br />],ceder prior to stccltniiion shatlmatl noBct to $orrower as..provided irr..paragraph.14 hereof specifying:., (1). the breach;
<br />t2) the action rcgakcd to cure stub breach; S3) a date, itot less than 30 days from the date the notice is maeled to Borrower,
<br />6y which such breach rates[ hr cured; and (4) that facture to ciree such breach on or btfore the dare specifitd in the notice:
<br />may result in acccknliou of Rht sutra secured b} thin 41ortgagey forecbsirre by judicialproceeding and sale:'. of the Property.
<br />Tlu notice rhrdi furtlser inform Borrower of Stet right to rebxslale after m[:eelaration ur,d the right to assert in the foreclosure.
<br />proctednng tht ntrta•existence otadehuft or any otheedefettse of Borrower. to acceleration and foreclosure:. if the breach
<br />is oat curFd un ar before the daae.~pecified in the notice, Lemier atl,eader's optFOn may declarenAnf the somssecureri by
<br />i1fle blorrg~e to be ietmsdiufetr~ due and p>,yal>fe without further. demand and may forrclase by judkiaiproetrding. Lender
<br />ada1F Me entHkd. tocoLtet Fa snC#. proceedigg all expensts'of. fureclostrre, Fnduditag, 6urnot ihnieed rct„ coats. of dactirnentary°
<br />eride>.re, aeA~tracts anal Brie reporffi.
<br />29. Berrowefs:Rltbt. to Reimaata. Nptwnhst»tnding 4.ender's ac:.eleration 7f the:. surrtssecrued by this '.stiortt;egc,
<br />BOrt;~~+er else]] harealst righEto. havranry prxxttdings t+tgtivr by Lender to enforce this ki,„trtga~. ciiscroatinued :at any zuate
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