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<br />82- i~~1~622
<br />Lender's written agreement or applicable law. Borrower shad pay the amount of ail mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounu disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional
<br />indebtedness of Borrower 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 Note unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shall hear interest at the highest rate
<br />ptrmissibte under applicable law. Nothing contained in this paragraph 7 shalt require Lender to incur any expense or take
<br />any action hereunder.
<br />g. Itupecdoo. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Cinder xhall give Borrower notice prior to env such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Coademoatbn. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or pan thereof, or for rnnveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In 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 Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall he applied w 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 prier to the date of
<br />taking bears to the fair market value of the Property immediately prior to the date of raking, with the balance of the proceeds
<br />paid to Bormwer.
<br />If the Property is abandoned by Borrower, or if. after notice by Lender m Borrower that the condemnor offers [o make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the dace such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds. at Lender c 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, am such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred ro in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Nat Rekased. Extension of the time for payment ar modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall net operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successorc in interest Lender shall not he required to commence
<br />proceedings agaitrst such successor or refuse to extend time for payment ar otherwise modify amortization of ehe sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />l 1. Forbearance by Leader Not a Waiver. Am' forbearance by Lendtr in exercising anp right or remedy hereunder, or
<br />otherwise afforded by 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 ar ether liens ar charges by [,ender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Camnhtdve. All remedies provided in this hfortgage arc distinct and cumulative m any other right or
<br />remedy under this Mortgage or afforded by law ar equity', and may F±r exercised concurrently. independently or successively.
<br />13. Stsceessors sad Assigm Bound; 1oin1 and Several Llab7ity: 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 to the previsions of paragraph 17 hereof. All rovenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mnngagt are for convenience only and are not to F.e used to
<br />interpret or define the provisions hereof.
<br />14. Notke. Except for any notice required under appiicabie law to be given in another manner, ta) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing cuch natiee by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Bormwer may des+gnate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified malt, return receipt requested, :o Lender's address stated herein or to
<br />such other address as Lender may designate ny notice re Bormwer as provided herein. Any notice pmvided far in this
<br />Mortgage shall be deemed to have been given to flarrowtr or Lender a-hen given in the manner designated herein.
<br />15. UnHorm Mortgages Goreraiag Law; Seversbt7ity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to canstuute a unifartn secunty instrument covering
<br />real property. This Mortgage shat) be governed by the law of the jurisdicnan in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, sash conflict shall not affect
<br />other provisions of this Mortgage or the Nott which can bt gluon ttTect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Vote arc dts:tared to he severable.
<br />Id. Borrower's Copy. Borrower shall bt furnishtd a conformed copy of the ~a!e and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. it all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prier written consent. excluding (at the creation of a lien or encumbrance subordinate to
<br />this Mortgage. (b) the creation of a purchase mcmey security interest far household appliances. (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or tdt the grant of any Itasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at Lender's apuon. declare all the sums secured by this Martgage to be
<br />immediately due and payable. Lender shall have waived such nptian to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Progeny is to 6e sold nr transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Isadet and that the inttrtsi payable on the sums soured 6y this Mortgage shall be at such rate as Lender
<br />shall request. If Leader has waival the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assuunptioa agreement accepted in writing by Lender, Lender shall release Barrawer from all
<br />ohligationa uodtr this Mortgage a~ the Note.
<br />If [,ender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less [hart 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or aemand on Bormwer, invoke any remedies permitted by paragraph t 8 hereof.
<br />Non-UHttroaM Covevexrs. Borrower and Lender furthtr cavcnant and agree as follows:
<br />li. Accekrtlbn; Remedies. IExeept ~ provided in paragraph 17 hereof, upon Borrower's breach o[ any corenaat or
<br />tgteemeat o[ Borrower to fhb Mortgage, including the covenants to pay where due say suasv steered Ay !his Mortgage,
<br />I.ea+dsr pdar to aetskeaAior shag ataA notice to Borrower as provided in paragraph !4 hereof spscifyic:; + the breath:
<br />(2) the atdoa required to curt such breach; i33 a data not kas than 30 days from the date the notice b tnatta~:: to Borrower,
<br />by wtdrh oath beeseh must be tared; and (4) drat fagnve to cure sack breach oa or before the dstr specified in the ttotke
<br />map rsadt hs accriteadtm of the wrws seeaeed by fhb Mortgage. forecbsare by Judicial proceeding and sak of the Property,
<br />Oita racks sbatB bather hOarm Borrower of the right to eeittstate after ectteirration and the right to assert is the fortclosure
<br />Noeeedisg des aaa.axbtewre of a dte(arlt m say other defeese of Bormwer to attekratba sad fonckrsare, if the breach
<br />b sat creed as or hdore the date apesiBad ta the trotMt, Lcadsr at Lender's option may declare ~ of the sums secured by
<br />Otis Martgage ta he irmasrlfaWy. doe sad paYabia without further demand sad ~ forcclase by Judicial proteedfag. (.ender
<br />tddl !m talltkd b colkct ta such proceedi~ aH expettapc of Potetlmnee, incln~ag, brat sot BntGed to, casts of docutnertary
<br />stidatc*, ahalraris sad Wk tsporis.
<br />IA Bwnonter's Rig11t ka RNrWste. Natwithstandrng l..trnltr's accekrauoo of the >umv secured by this Martgattr,
<br />BortiJwct shall heat !h0 right to have soy prsxetdings btgt+n by 1.tndtr to enfat cc thts Mortgage discantinutd et auy tutx
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