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<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 Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrows: 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 outstanddng principal under the Note unless payment of
<br />interesst ai such rata would be cartrary to applicable law. in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable taw. Nothing contained in -this paragraph 7 shall require L°nder to incur any expeme or take
<br />any action hereunder.
<br />B. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />chat Lender she][ give Borrower notice prier to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. t;oudemnation. The proceeds of any award or claim for damages, direct or consP.queniiai, in connection with any
<br />condemnation or ocher taking of the Property, or part thereof, or for conveyance 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 shalt 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 6y this Mortgage immediately prior to the date of
<br />taking bears to the fair market vacua of the Prope,y 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, . fiat 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 afrer the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds, at 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, any such application of proceeds [o principal shall not extend
<br />or postpone the due date of the Hton[hly 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 or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to ang successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings agsirst such successor or refuse to extend time for 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. Forbearance 6y Lender Not a iF'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable taw, shall not be 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 or charges by Lender shall not be a waiver of Lender's
<br />right to acceieraie the maturity of the indebtedness secured 6y Ehis Mortgage.
<br />12. Remedies Cumulative. Ali remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Saeessors sad Assigns Bound; Joint and Several Liabe7ity; Captions. 7'he 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 provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of tt^ paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the pro1~sions hereof.
<br />14. Notice, Except for any notice required under appiica'ate law to be given Sn anot%,rr manner, (a) any n_ ' to
<br />$arrower provided for in ibis Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address yr 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 terti5ed mail, return receipt requested. to Lender's address stated herein or fo
<br />such other address as Lender may designate by notice to Borrower az provided 'Heroin. Any notice provided for in this
<br />Mortgage shall be deemed to have bear. given io Harrower or Lender when given in the manner designaeed herein.
<br />15. Uniform Mortgage; Governing Law; Severa6€iity. This form of mortgage combitres uniform covenants 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 by the law of the jurisdiction in which the Property is located. In fire
<br />event that any prayrsion or clause of this Mortgage or the Note conflicts with applicable law, such confiici shall nor 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 are declared to be severable.
<br />16, Bormwar's tl;opy. Borrower shall be furnished a conformed copy of the Nate and of this b4ortgage at the lime
<br />of execution or after retardation hereof.
<br />17. Ttaasfer of the Property; Assumption. If all or any gart of the Property or an interest therein is sold or transferred
<br />by Harrower without Lender's prior written consent, excluding (a} the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b} the creation of a purchase money security interest for household appliances, (e) a transfer by dtvise.
<br />descent or by opeta6on of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, bender may, at Lender's aptiaH, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shalt have waived such option io accelerate if, prior 4o the :ale or transfer, Lender
<br />and the person to whom the Property is to be sold or 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 rate az Lender
<br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's sucressor in
<br />interest has executed a written assumption agreement accepted in writing 6y Lender, Lender shalt release Borrower from ail
<br />obligations under this Mortgage and the Note.
<br />If Lender 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 Hat less than 30 days from the date the notice is mailed within
<br />which Harrower 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 demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Nox-UftlFaaat Covext*tts. Borrower aHd Lender further Covenant and agree as follows:
<br />1g. Aveeteretlos; Re®edies. Except t~ grorided fa psrsgeaph 17 hereof, upon Bormwer's breach of say coveaaat or
<br />~reeme~ of Boerowar is lire Mortgage, hicladiag the covenants to pay when due any soma severed by the Mortgage,
<br />Loader prior to aci'ekretloa sbsB ma7 aotiee to Borrowe as provided in paragraph 14 hereof specifying: (1) the breach;
<br />{2) the actloa rcyuired m care strvb breach; (3) a date, act kss tbaa 30 days from the date the aotlce ~ ma8ed to Borrower,
<br />bq essy.'rrb cotta irzA--4: Y'=± be tared: sad (4) that faHnre to cum such beeacb oa or before the date specdied is the active
<br />m~.~ rasult in avicehtatloa of the sums catered by this lilorlgtrge, forcckaore by jadivial Proceeding and saM of the Property.
<br />`Ilte active sbaH fmther Dorm Bo~eower ~ the rFgbt to reias~e alter acceleration sad the right to assert is the foreeMsare
<br />praceaUag the eon-existence of a default or nay ottte defense of Borrowe to acceleration and forcdosare. B` lice breach
<br />e met cured oa or before the dots tapeciHed br ebe aalke, Leader st Leader's option may dcvhue ~ of the sums secured by
<br />the Aiortgage to 6e immediately due and gable without farther demand and may forevlase by judicial proceeding. Lender
<br />alaB be eatitkd to collect to each proceeding sB esprru;:s ~ foreclos®re, Iecludfag, bat not littcited to, costs a[ documentary
<br />evldesce, abstracts and title reports.
<br />14. Borrowers R~6t to Reiaatate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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