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79- lit~~3i35
<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 shalt 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 an outstanding 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 />permissrble under applicable law. Nothing contained in this paragraph 7 shall require Lander to incur any expense or take
<br />any action hereunder.
<br />8. Iaapection. 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 r; asonable cause therefor related to L.endei s
<br />interest in the Property.
<br />4. Condemnalbn. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of ehe 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 equrd to that proportion which the amount of the sums secured by this Mortgage immediately prior to the deee 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 Borrower, or if, aftee notice try Lender to Harrower that the condemnor offer to make
<br />an award or settle a claim for damages, Borrower fails to respond to .;.ender 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 resroration 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 trot extend
<br />ar postpone the dire date of She monthly installments referred to in paragraphs i and 2 hereof nr 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 succersor 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 commenet
<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 Borrowers successors in Interest.
<br />11. Forbeanece 6y Leader Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />athervvise 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 tiers or charges by Lender shall not 6e a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies tam-aWhe. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law ar equity, and may be exercised concurrently, independently or successively.
<br />13. Sueeesson and Awigaa Bound; ]Dint sad Srrerd I.hbBlty; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shalt 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 Harrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are far convenience only and arc not to be used to
<br />interpret of define the provisions hereof.
<br />Yt. Notlce. 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 6y certi&d mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to tender as provided herein, and
<br />(h) any tuuice to Lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to
<br />such other address as Leader may designate by notice to Borrower as provided herein. Am notice gravided tar in this
<br />Mortgage shall be deemed to have been given to Harrower or Lender when given in the manner designated herein.
<br />iS. (la#arta MortEsge; Go-sraisg Law; SeverabWty. This Farm of mortgage combines uniform covenants far natioewl
<br />ar)d nan•trnitarnt Easetsants with limited vatiaHans by jurisdietian to canstittue a uniforttt security 'snstrumrrtt caaverittg
<br />teal property. This Martgagt shall be governed by the }aw of the jurisdietian in which rho Property is locatai. In #~
<br />evatt that any pt'a'r'ision or elsusa of this Mortgage ar the Nate cort8icts with applicable taw, such cattftict shall tarn alt
<br />other provish-gals ~ till Maw ar tL~ *tatr wtti~h pan ba given aff~t without tt~ ~nfii~tittg pr~vix~on, a €o ttt~
<br />geld the proviskns of the Mart awe and flee Note era c~larcd to be mverahle
<br />tf. larsower's Cspry. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the titt+e
<br />of rxectttion w after rccordatiort hereof.
<br />1?. "Trar/er of Mw rroperlyt AmumpNoa. 1f alt ar any part of the Property cr an interest therein is said or transferral
<br />by Borrower wiiho~ttt Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subonlinate M
<br />this Mortgage, Cb) the creation of a purchase money security interest for household appliances, ic) a tratisfet by devise,
<br />Aeacurt or by operation of taw upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or tees
<br />ant ~tsining an option to purchase. L.etrdrr may, at [,ender's option, declare all the sums secured by thin Mortgage to be
<br />imttsoAiatrly Aete and payable. [.crr~r sha14 have waived such option to accelerate if, prior to the sak or transfer, Lander
<br />sad the person ro wham the Property is to be sold or transferred reach agrcetrtent in writing that the crafit of such petsat
<br />is atisfuwry to Lender atsd that the interest payable an the sums saurod by this Mortgage shall be at such rate as Lander
<br />~sJl regrseat. it L.,ptder hn waived the option to accelerate provided in this paragraph t7, sad if Borrower's successor in
<br />iaterrst has axecumd a writtea assumption sgramtent acttptal in writing by Lender, Lender shall release Borrower from sit
<br />aDiigtttioaa under this Mari;age anA the Nose.
<br />It t..eaAer exercises wch option to uceietate, Lender shall mail Harrower notice of acakration in accordatsce with
<br />paragraprlt i4 hereof. 3uclt notice shat! prarviAe a period of rat less than 30 days Pram the date the rtotlce is ma7ed within
<br />which Borrowwer may pay the sums declared due. If Harrower fails to pay auclt supra prior to the expiration of such period,
<br />Leader may, without further rrotiee or dtarraad opt Borrower, invoke any remedial permitted by paragraph 18 ttetv>aP.
<br />L3oN.tlNtrotrs+ e`avaxaNrr. Borrower and f_artAar further Cavrnant and aggro as follows;
<br />ti. Aratlnatieas Rasaadka. Bttarolp sa grotldrd ~ Nrat~ t? hereof. t-poa Borrowerss Mearh of say caveaaat or
<br />agsassasM at Harrower ~ dde l_ e, ~th~ tl~ tovenants to pay wMrn dire arty was arrureA by ~ Mor~ate.
<br />Lrssdar ~ ~ ~ stlaaN ~ splice ds Bsui<owsr sa prnvld+rA M prrtrtatplt 14 Isereol spasilpitsgt tilt toss hseaeh;
<br />(1) tltu srellsa sfgtekMd to care ssteY hresrM; t31 a state, oat leas tlwt J@ days from t!e den the aotlce M muted is Barrowror,
<br />lty whteh seeds kn+trrlt easM 6a sad tat filed iaBsxr ds cm~e ~ lrrach as ~ ttdarr tier the specified t[a the entree
<br />eta easaM M at+eekr»laa a the stmt aeesued 0y this MoetEaga. loreciown ~' Iud1eW proeeedhrg sal ~ d the Property.
<br />71u tsotiee s>!a~ lwlMer i~oem Baerorrar of Ilse rf~tt m sellable alder aecelaralba and the right to smert ie the ionclosun
<br />psoceedireg qse ^oa~axitteoee rd a sletsasM ar any other decease of Harrower m accaksagoa sad toreclosme. u the breach
<br />>r alt esuad act of bdon tba dab speeYled ht lira aMke. Calder » Leader's aptbn may Aertare aB of the some second by
<br />Mastpge da be haaaedlatdy der lard payabls wN-erf farther demmtd smd salty ioneloae by ludiehl procesd{ag. Leader
<br />t~tll be eaNllad ~ contact is acids prs-c aik a=peeaaa ~ lsnclasrn. lam, hnt sat Ihmrid¢d to carer ai docume»ary
<br />avldwtee, ataWraets sad nprrb.
<br />18. Bsrea+>ter'a R~$t a Rte~lale. Notwithstanding Leraer's accektation aF the sums secured by this Mortgage.
<br />Harrower shalt have tIm tight to have say proceedings begun by Lender to enfonY this Mortgage discontinued at any time
<br />dry y.
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