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73-® ~_~~~.~~.8~
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided tinder 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 />amatnts shaii be payable upon notice from i.endcr ro Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on atttstanding principal under the Note unless payment of
<br />interest at such rate 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 shalt require Lender to incur any expense or take
<br />any action hereunder.
<br />B. [nspec[ian. Lender may make or cause to be made rasonabls entries upon and inspections of the Property, provided
<br />that Lender shalt give Borrower notice prior to any such inspection specifying reasonahle 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 pan thereof. or far 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 proceed shall be applied to the sums secured by this Mortgage,
<br />with the excess, if any, paid to Borrower. In the went of a partial 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 ro 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 ro Borrower that the condemnor offers to make
<br />an award or seifle a claim for damages, Borrower fails to respond to Lender within 3Q daps 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 ar to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, an}• such application of proceeds to principal shaii not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs i and 2 hereof or change the amount of
<br />such installments.
<br />10. $orrower Not Released. 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 shat! not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shalt not be required to commence
<br />proceedings against such successor or reface 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 Borraw•er's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any farbeararce by Tender in e.~ercising any right ar remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exsrcise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges b} bender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this A9ortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law ar equity, and ma}' be eyercised rnncurrcotl}', independently or successivel}'.
<br />13. Sa€cessors and Assigns Bound; 3oint and Several i,iabilih: Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns et Lender and Borrower,
<br />subiect to the provisions of paragraph 17 hereof. Ail covenants ar+.d agreemen?s of Horrowe* <hall be ;Dint and severah
<br />The captions and headings of the paragraphs of this Mortgage are for canvenicncc onl} and are not to t>r useu to
<br />interpret or 3efine the provisions hereof.
<br />i4. iotise, irx€cpt for any notice required under applicable taw to be 4iven in another manner, (a) any nadce 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 Lender as provided herein. and
<br />{b~ any notice to Lender shall be given by certi5ed mail, return receipt requested. to Lsnder's address stated herein or io
<br />such other address as Lender may designate by notice to Borrower as provided herein. Anp notice provided for in this
<br />Mortgage shalt be deemed to have been given to Borrower or ;.ender when given ir. the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; Severability. This farm of mortgage combines uniform covenants fur national
<br />use and non-uniform covenants with limited variations by jurisdiction in constitute a uniforrn sccaritc instrument covering
<br />real property. This Mortgage shaii be governed by the taw of the ;urisdictien in which tF.e Property is located. In the
<br />event that any provision or clause of this Mortgage or the Nate conflicts with applicable law. snch conflict shaii not affect
<br />other provisions of this Mortgage ar the Nme which can be Divan effect without the conflicting provision. and to this
<br />end the provisions of the Mortgage and the lore are declared to be severable.
<br />16. Borrower's Copy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />1T. Transfer of the Property; A~umption. If all or any part of the Property or an interest therein is said ar transferred
<br />by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance suhordinatc to
<br />this Mortgage, (b) the creation of a purchase money security interest for hrntsehoid appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or idt the grant of any leasehold ;merest of three nears or less
<br />not containing an option to purchase. [.ender 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 to the sale or transfer. Lender
<br />and the person to whom the Propert}' is to be said or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the ;merest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request If Lender has waived the option to accelerate provided in this paragraph 77, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Londe., Lender shalt release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shalt mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a p€riod of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Barroser folk ro pay such sums prior to the expiration of such period.
<br />Lender may, wkhout further nottcc or demand on Borrower, invoke any remedies permitted by paragraph i S hereof.
<br />1Vota-Uxtt=oxna CovEN,+t.rs. Harrower and Lender further covcnnnt and agree as follows:
<br />t$. Asce[eration; Remedies Ex€egt as provided in paragraph 17 hereof, npon Borrower's breach of any covenant or
<br />~reement of $arrower in uses Iortgage, including the covenants to pay when due any sums secured by this Mortgage,
<br />Leader prier to a€eeleratioo shag ma8 notice to Borrower as provided in paragraph [A hereof specifying: (Ij the breach;
<br />(2} the aetinn regained to care such breach; (3) a date. not tens than 30 days from the date the notice is mailed to Borrower,
<br />by which sack breach mast be cured; and {4) that failure to cure such breach on or before the date specified en the no8ce
<br />may recall in acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sate of the Property.
<br />The not;€e shalt farther inform Borrower of the right to reiessYate afrer acceleration and the right to assert eu the foreclosure
<br />proceeding the non-eaiatence of a defsait or any other defame of Borrower to acceleration and foreclosure. If the Dreaeh
<br />is nod cured on or before the date specified in the notice, Lender at [xnder's option may declare all of the sums secured by
<br />ilk :ioAgage to be immediately due and payable wklwut further demand and may foreclose by judicial proceedngg. Lender
<br />•shaii be eetitfled to collect in sash proceedir~ all expenses of foreclosure, inetuding, but not limited to, costs of do€omeatary
<br />evidence, abstracts and title reparfs.
<br />14. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br />Borrower shall have the right to have any proceedings begun by [..ender to enforce this Mortgage discontinued at any time
<br />,.ttid*
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