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<br />82-(10493;3
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by [.ender 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 Tender to Borrower requesting payment thereof. and shalt hear interest from the
<br />date of disL+ursement at the rate payable from time t~ time on outstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable taw, in which event such amounts shall bear interest at 4he highest rate
<br />permissible under applicable law. Nothing contained in thin 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 thi; Property. provided
<br />that Lender shall give Borrower notice prior to any-such inspection specifying reasonable cause therefor related to Lender's
<br />interest in [he Property.
<br />9. Condemnaton. The proceeds of any award or claim for dama¢es, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or par[ thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Linder. -
<br />In [he 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, [here shall be applied to 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 to the date- of
<br />taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for 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. az Lender'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, anv such application of proceeds to principal shall not extend
<br />or 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 Nat Released. 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 Borzower shall oat operate to release. 'in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not he reouired to commence
<br />proceedings against such successor ar refuse to extend time for payment or otheru•isr modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made h}' the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender :Vat a Waiver. Any forbearance h}• Lender in exercising am• right or remedy hereunder. or
<br />otherwise afforded by applicable law, shall not be a waiver of ur preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes ar other !tens or ;barges by tender shall not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured he this Mortgage.
<br />12. Remedies Cumulative. Ail remedies prodded Ir. this \lortgage are distinct and cumulative to anv other right or
<br />remedy under this Mortgage or afforded by law or equip'. and mac he exercised rnncurrently. independently or successively.
<br />13. Successors and Assi):ns Bound; Joint and Several Leahility: Captions. ~11te covenants and agreements herein
<br />contained shall hind. and the rights hereunder shall inure ta. the respeeuve successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph i? hereof. Alt cocawnts :uxi agreement. of 8orrou-er shall he joint and several.
<br />The captiotn and headings of the paragraphs of this ilortcage arc for convenience only :md are not to he used to
<br />interpret or define the provisions hereof.
<br />14, Notice. Except for any notice required under applicable law to be riven in another manner, fat any notice to
<br />Borrower provided for in this Mortgage shall he given b} mailing such notice by :citified mail addressed to Barrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) anv notice to Linder shall be given b}• certified mail romrn receipt requested. u, i_enders address stated herein or to
<br />such other address as Lender ma}' designate by nettle. to Borrower as pr?cided herein. :1 m` notice prm•ided for in this
<br />Mortgage shall be deemed to have been given ro Borrower or 1 ender •s hen g,crn in the manner designated herein.
<br />15. Uniform Siortgage; Governing L_aw: Severabilin~. ih:, term of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by iur:,d:cban ro .onstiunr a uniform security` instrument covering
<br />real property. This Mortgage shall be governed be the law of the ;r:risdrctian i^ which the Property` i. '-.muted. In the
<br />event that any pnwision ar clause of this Mortgage cr ;he Vote conflicts with appiicahlc law=, such conflict ,haft oat affect
<br />other provisions of this Mortgage cr the Note wh~eh can be given etlect without the conflicting prodsiun. •end to this
<br />end the provisions of the Mortgage and the tiote are declared to he severtblc.
<br />16. Borrowers Copv. Borrower shall be fiu'nished a amformed copy of the Vote and of th+s Mortgage at the nme
<br />of execution or afcer recordation hereof.
<br />17. Transfer of the Property: Assumplian. If a1! or any part ~+f the Pr.+pene or an interest therein is sold er transferred
<br />by Borrower without L.rnder's pine written renseat. excuding i ~-- the ~_reatiott of :+ lien ar encumbrance subordinate to
<br />this Mortgage, {b} the creation of a purchase money' security interest for household appliances. fol a transfer by devise.
<br />descent ar by operation of law upon the death of u joint tenant nr "
<br />Lender msy, at Lender's option, declare all the sum: secured by this \tartgagr to be
<br />immediately due and payable. Lender shall have waicrd such option u+ accelerate if. prior tr. the ~~ale or transfer. lender
<br />and the person to wham the PrOperq~ is to be sold ar transferred rea.h sgreement to wrong that the credit of such person
<br />is satisfactory• to Lender and that the interest payable en the sum> >wured hr thi; Mortgage shall be at such rate as Lender
<br />shall request. If Lender has waived the option to accelerate presided ht this p:vagraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in •arinng by I_enJer. Lender shad release Borrower tram all
<br />ob}igatioos under this Mortgage and the Nete.
<br />If Lender exercises such option to accelerate. Lender shalt mail Borrower notice of acceleration in accordance with
<br />paragraph l4 hereof. Such notice shell provide :t period of not less than z0 day. from the dale the notice is mailed within
<br />which Borrower may pay the sums-declared due. if Borrower ('ails rp pay such sums pror to the expiration of such period.
<br />Lender may, without further notice or demand en Borrower, invei.e an} remedies permitted h}• paragraph t8 hereof.
<br />NON-I)N1FpRM ivOVHh'aNTS. Borrower and Lender further coxcuant and agree as follows
<br />1B. Acceleradont Remedies. E~rrpi as presided in paragraph 17 hereof. open Borrower's breach of any ravenaut or
<br />r~reement of Borrower in this Mortgage, including the covenants to pay when due an. sums secured by this Mortgage,
<br />Lender prior fo accekration shall mail notice to Barrowec as provided in paragraph 14 hereof specifying: 12) [he breach;
<br />(2} the erfion required to cure such breach;. !3) a date. not les. than 311 days from the -date the notice ;; mailed to Borrower,
<br />by which such breath uinst be cured; and (4} that failure to cure such breach on or before the dale specified in the notice
<br />may result ie areekratian of the sums secured be this vlortga~e, foreclosure by judicial proceeding and lair of the Property.
<br />The notIrr sftall fterther inform Borrower of the right to misstate after acceferatiou and the right to assert in the foreclosure
<br />proeeedi~ the uanmxixlanre of a drfauh or an} ether defense of Barrower to acceleration and fanrlosun. ff the breach
<br />is trot cured an or before the date specified izt the native, Lender at l,endrr's option tray drriare alt of !?.r „ms secured by
<br />lbis Marriage la be itnraedistrly der and payable withaut further demand and ate} famriace by judicial i- riling. lender
<br />stttrB be entkied to rallect in catch proceeding all rspenses at famclasure, including, but not limited to, rent. uF documrtatary
<br />evidence, abstracts aad tith reports.
<br />14. Borruvrer's Right to Reiautatr- Notwtthatanding L,rtrdar's :+cccterauon ~;f the stints se. :: n,<i h} ihi, tit.jrtgagc,
<br />BatNwet shall have the right to have any proceedings f>t:gur: h} tender t: en+.=?rrc ttu ~, llurtg.+ge .hx stn!im:ed .t: an~~ time
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