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<br />Ixnder'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 Leader 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 tale would be contrary to 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 />8. tns~pection. Lender may make er cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shalt. give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9, CandemrraHon. The proceeds of any award or claim for damaees, 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 shalt be paid to Lender.
<br />1n the event of a toeal 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. to the event of a partiat taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there 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 BotTOwer, 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, 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 />ar 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 be 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. Forbearauee 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 Cmm~tative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by taw or equity, and may be exercised concurrently, irdependenti}• or success*~•°tv.
<br />13. Sacc~sors and Assns Bound; .loin[ and Several f,iahiNfy; Captions. The covenants and agreements herein
<br />contaired 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 agrecme-tts of Borrower shall be joint and several.
<br />T2te captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />ineerpeet or de,ine ehe provisions her=eof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shalt 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 Leader as provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested. to Lender's address staled 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 shah be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />IS. Uniform Mortgage; Govenoing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdicticn to constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the ]aw of the jurisdiction 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 />otfier 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. Borrowtr's Copy. Borrower shall be furnisSed a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Ttartsfer of the Property; Assumption. 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 (al the creation of a litn 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 />descant or by operation of law upon the death of a joint tenant or (dl 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 all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior fa the sale or transfer. Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in .rriting that the credit of such person
<br />is satisfactory to bender and that the interest payable on the sums secured by this Mortgage shad be at such rate as Lender
<br />shad request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's 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 Note.
<br />If bender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph ld hereof. Such notice shall provide a period of not less than 30 days from the date the notice is maned 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 demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Note-L'tatt~ottM Covt>tvems. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as provided in paragrapb t7 hereof, upon Borrower's breech of any covenant or
<br />agreenrett ~ Borrower in tlds Mor~age, includir~ the covenants to pay when due say sew scented by this Mortgage,
<br />Lenakr prior !te acttlerriioe sbaB mail notice to $orrower as provided in paragraph 14 6eteof specifying: (1) the breach;
<br />(2} the action eegolred to cure such breach; (3) a date, not kss than 30 days from the date the notice ~ mailed to Borrower,
<br />by which each breach mrtst fie cured; sod (4) that faBnre to cnrc such breach oa or before the date specified in the entice
<br />may rewk is acct~atisn of the saa-s secnrcd by this Mortgage, forecbsurc by judkial proceeding and sale of the Properly.
<br />The notice ffiaB farther hrfocm Borrower of the right to reinstate afar aceehration sad the right to assert in the foreclosure
<br />proceeding the non-eaci~ence of a defenlt or any other detfense of Borrower to ~ceieration end foreclosure. If the breach
<br />is not eueed oa or before the date specked in the notice, Leader st Leper's optba may declare all of the sums secured by
<br />thta Merge to be hnmediatety due and payable without further demand anel er±sy foreclose by judicial proceedntg. Lender
<br />shall be entitled to ceBeN in each proceeding ail expenses of foreclosure, including, but not limited to, costs of docomentsry
<br />evidence, ebstracfs agd title rcpa~
<br />19. Borroweta Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Bormwer shall have the tight to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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