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<br />Lens written agreement or aoplicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />mtrnrxcr p."o'.ided under paragraph 2 hereof.
<br />,~.ny amounts disbursed by Leader pursuant to this paragraph 7„ with interest thereon, sf:ali become additional
<br />indeitedness of Borrower secured by this Mortgage. Unless Borrower grad Lender agree to other terms of payment, such
<br />amounts shai2 be payable upon notice from Lenaer to Borrower requesting payment thereof. and shall bear interest {torn the
<br />date of disbursement at the rate payable from time to time on auistanding prncipal under the *Ie~P unless payment of
<br />interest at such rate would to 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 sh21! m~uire Lender zo 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 the Property, provided
<br />that iEnder shall give Borrower notice prior [o any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemaat~n. The proceeds of any award ar claim for damages. direct or consequential, in connection with any
<br />condemnation or other taking of the Property, ar part thereof, or for canv-eyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />7n the e4~ent of a total taking of the Property, the prxceds shalt be applied to the sums secured by [his Mortgage.
<br />with the excess. if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lander
<br />otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the prxeeds
<br />as is e4ual 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 [eking, with the baiancc of the p.w..tds
<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, 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 prxeeds to principal shall not extend
<br />or postpone the due date of [he monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />18. 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 shalt not operate to release, in an}• manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall r be required to commence
<br />proceedings against such successor or refuse to extend time far payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Bonewer and Borrower's successors in interest.
<br />ii. t~orneariace by under Not a lrNiiYer. Any forbearance by Lender in exercising any right or remedy hereunder. ar
<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. Rertcedies CmnphrHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or arToeded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Snceessors sad Assigns Bound; Joint and Several [asln7ity; Captious. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shat! inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 1 7 hereof. Ail covenants and agreements of Borrower shall 6e joint and severat_
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<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 shall be given by mailing such notice by certified mail addressed to Bortower at
<br />the Property Address ar at such other address as Borrower may designate by native to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested, to Lenders address stated herein or to
<br />such other addre~ as Lender may designate by notice to IIorrowe- as provided herein. Any notice provided far in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated heroin.
<br />15. Uniform Mortgage; Governing Law; Severahility. This form of mortgage combines 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 taw of the jurisdiction in which the Property is Iocated. 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 Noie which can be given effect without the conflicting provision, and to this
<br />end the provisions of tbe Mortgage and the ?gore are declared io be s;yerable.
<br />1G, Borrower's Copy. Harrower shall tae furnished a conformed copy of the Note and of this Mortgage at the titre
<br />of execution or aftee recordation hereof.
<br />17. Transfer of the Property; Assumption. if all or any part of the Property or an interest thereon is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrahce 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 all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shaft have waived such option to accelerate if, prier to the sale 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 Lendee and that the interest 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 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 alt
<br />obligations under This Mortgage and the Note.
<br />If Lertdsr exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shalt provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiralian of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />'dam-Urrr~M isctvaxa~rss. Borr~wt:r and Lender further covenant and agree as fa)lows:
<br />18. A~ Rya. ~ta•~ as prarided is paragraph 17 hereof, upon Borrower's breach of spy coY;cant or
<br />i8rtxaant if Berrewu ip t7da Mort~e, iachrdia= fire covenants to psy when due any auras stcared by thly Morlgigq
<br />Leaf prier ~ acaliratiae ~ >ialB notice to Borrower as provided is paragraph 14 hereof specifyhfil: (1) the breach;
<br />iZ) tle t > ~ ems web ~ f3) a dots, out kas than 38 days from tbie date the aotlce ~ stalled to Borrower,
<br />by ntllicY aie6 btsaei ttmrt be ~ ai (4) that isfllue to cars sac6 breach o0 or before the date speclRe~d is tbs iotiee
<br />~ ratlalt is a ~ the oars irsa~sd by tbls Mortis, fwecios®re by jadicbd praccsdiryi sad sale of the Property.
<br />Tile alatlre ~ i l1~efO Bereower of ell! rift fa rdeStit! afar ifteleritiOn And tht tight M assert ip the foreclosuro
<br />gtttrsssi6~ @re s et • +hefildt or any other detssie of Borrower to acceeration aad foretbsare. if the breach
<br />b sit creed on sr before tl3e dots apecl8ed in the no4icq Leedsr d Leader's option may dechue ~ of the sutmf secured by
<br />IAIt ~ar1 b 6s dtm rld pay ~ wtthopt further dema~ sad nagv fatseloss by jtedicial procscditrR. Lender
<br />aha8 be tam to collet! M each proesa~teg aB expenses ~ forscl~tere, includbtg, but not Bmksd to, costs of docnmerNary
<br />1;. $irsosrsfa to 18sfsxtats. 1Voiwithat2ndin$ L-ender a acce)eration of the sums secured icy this Mortgage.
<br />Borrower t+itall have the tight to hays any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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