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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 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 W applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take.
<br />any action hereunder.
<br />a. Irtapac.~on. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying masonahle cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. 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 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 l+.fortgage.
<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, them shall be applied to the sums scoured by this Mortgage snch 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 prier to the date of taking, with the balance of the prc~eeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower chat the condemnor offers to make
<br />an award or settle a claim for damages, Borrower faits to respond to Lender within 30 days after 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 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 Not 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 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 fie required to commence
<br />proceedings against 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 by 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 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 accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Camolative. All remedies provided in this Afortgage am 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. Successors and Assigns Bonnd; Joint and Several t,ialt$ity; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lander and Burrower,
<br />subject W the provisions of paragraph 11 hereof. All covenants and agreements of Borrower shalt be joint and several.
<br />The captions and headings of the paragraphs of this Mottgage are for convenience only and are not to be used to
<br />interprek or define the provisions hereof.
<br />14. 'S'otice. Except for any notice required under applicable law to be given in ono?her msnner, {a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or 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 certified mail, return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein..
<br />15. Uniform Mortgage; Governing Law; Severabflity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction ro constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by she law of the jurisdic?ion 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, 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 am declared to be severable.
<br />26. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the lime
<br />of execution or after recordation hereof.
<br />1?. Transfer of the Property; Assnmption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower 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, (c) a transfer by devise,
<br />descent or by operation 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. Lender may, at Lender's option, declare alt the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shalt have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is to bs sold or trans#erred mach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by t6;, :4rtgage shall be at such rate as Lender
<br />shaft request. If Lender has waived the option to accelerate provided in this paragraph ]?, and if Borrowers successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Nofe.
<br />If Lender exercises such option to accelerate. Linder shall mail Borrower notice of acceleration in accordance with
<br />paragraph t4 hereof. Such notice shall provide a period of not leas that. 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrow°ar fails to pay such sums prior fo tht expiration of such period,
<br />Lsnder may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph I8 hereof.
<br />Nox-L1N?FORM CovexAN't's. Borrower and Lender further covenant and agree as fellows:
<br />18. Acceleration; Remedies, Except as provided in paragraph t? hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower ~ the Mortgage, includf~ the covenants to pay when due any sums secured by thffi Mortgage,
<br />Lsnder prior to trese~ration sball mail twtice to Borrower as provided in paragraph 14 hereof specifyi~: (1) the breach;
<br />(2) the astioa regained to cure such breach; (3) a date, trot Isss than 30 days from the die the notice is mailed to Borrower,
<br />bJ'-which sash breach mast be cared; and (4) that fa8ure to cnre snch breach on or before the date specified in the notice
<br />may result in acceleration of the cams secar~l by this Mortgage, foreclosure by judicial proceeding and sak of the Property.
<br />The notice shall farther hrform Borrower of the right to reinstate after acceleration and the right to assert ha the foreclosure
<br />proeeediag the aaa-existsace of a defsait or any other defst~e of Borrower to aceekration and forec~are. If the bre~6
<br />B ad cared oa or before the dots specified io the notice, Lender at Lender's option may declare al! of the sums xcured by
<br />this Mortgage to be immedhdely drte and payable without farther demand sod may foreclose by judicial proceeding. Lender
<br />shelf i~ eat~d to collect is sash proceeding ail espermes of foreclosure, incladhrg, bnt not limited to, costs of documentary
<br />evtdeai:e, abstract and tiffs reporhs.
<br />19. Borrower's Right to Rnmtde. Notwithstanding Lender's acceleration. of the sums secured by this Mortgage,
<br />Borrower shah have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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