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79-- lit~~~~U6
<br />Lender"s written agreement or applicable law. Borrower shall pay the amount of a!I mortgage insurance premiums in the
<br />manner pfadded under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph ~, 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 hear interest from the
<br />date of disbursement at the rate payable from time to time on ottts!anding principal under the Note unless payment of
<br />interest at such rate would be contrary ro 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. Irspectlon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />char Lender shall give Borrower notice prior Eo any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Propert}'.
<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 :;hall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the same secured by this Mortgage,
<br />with the excess, if any, paid to Borrower. in the event of a partial taking of the Property, unless Barcower and Lender
<br />otherwise agree in writing, them 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 sum: 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 ;he balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offero to make
<br />an award or settle a claim far damages, Borcower fails to respond to Lender within JO 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 Lander 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 I and 2 hereof or change the amount of
<br />such installments.
<br />t0. Borrower Not Rakased. Extension of the time for payment or modiflcation of amortization of the sums secured
<br />by tfiis Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the anginal Borrower and Borcower's successors in interest. Lender shall net 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 6y this Mortgage by reason of any demand made by the original Borrower and Barrowcr's successors in interest.
<br />f 1. Forbeuance by Lender Not ^ Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise aBarded by applicable law, shall not be a waiver of or prelude the exercise of any such right or remedy.
<br />The procuttment 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 acceterate the maturity of the indebtedness secured by this Mortgage.
<br />12. Reasedies Cumalatha Al! remedies provided in this Mortgage are 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. Secceason sad Alas Bound; lout and $evsrol f.iabBtty; Captiotts. The covenants and agreements heroin
<br />contained 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. ,Ail covenants and agreements of Bo: rower shall be joint and several.
<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) an}• notice to
<br />Borrower provided far in this Mortgage shall be given by mailing such notice by certified mail addressed to Borcower at
<br />the Property Address or at such other address as Borrower may designate by notice to Gender as provided herein, and
<br />(b) any notiu to Lander shall be given by certified mail, rctum receipt requested, to Lender's address stated herein ar to
<br />such ether address as Lender may designate by notice to Harrower as provided herein. Any notice provided fat in this
<br />Mortgage €hall ba deemed to have bean given to Borrower or L€nder when given in the manner designated grain.
<br />IS. UaUorm Mo[tRaee; Govsrni~ Lawt 9ererrbik}•. This form of mortgage combines uniform covenants for national
<br />ux and non-uniform covenants with limited variations h}• jurisdiction to constitute a uniform security ina[rument covering
<br />root praparty. This Mortgage shalt 1~ gavamed by the taw E f the jarisdieeion in which the Property is toasted, In the
<br />evar+t that any Lsravision o€€ ctatr~ of this Mortgage ar th€ *lo[e conflicts with applicable taw, such ecxit}itt shall net ar"f~t
<br />other provisions of this Mortgage or the Note which can be given effect without iha conflicting provision, and to fhb
<br />attd [ha provisions of rho Mortgage amt the Nate are declared ro be ~varabte.
<br />16. 8orsowsr'a Copy Borrawer shalt be #oruis#red a Dart#orfirtad copy of the Note and of this Martgaga at the lima
<br />of execution or after recordation hereof.
<br />IT. Treader of the t[oparty; Aawmptloe. If all or any part of the Property or an interest therein is Bald ar trensferrat
<br />by Borrower without Lender's prior written consent, excluding (al the creation of a lien ar encumbrance subardinata tc
<br />this Mortgage, (b) the cttation of a purchase money security interest far household appliances, (cl a trarvsfer 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 thtte years or kas
<br />net containing an option to purchafe, Lender may, a[ Lendei s option, declare all the sums secured by this Mort;age to be
<br />immediately due and payable. Leader shall Nava waived such option to aaelerate if, ptiar to the sale ar [ransfer, Lender
<br />and the porson to whom the Propatty is to be sold or transferred reach agreement in writing that the crodit of such pat+son
<br />is satisfactory to Lander and that the interest payable an the sums secured by this Mortgage shalt be at such rate as Leader
<br />shat) request. It 4andar has waives the option to accalaraae provided in this paragraph t7, and if Borrower's €tu~r in
<br />intarat has executed a written auumption agreement accepted in writing try Lender. Lender shall release Borrawer trwn all
<br />obligations under this Mortgage sad the Nola.
<br />1f Lsndse exart:ises such option to accalarata Lander shag mail Borrower native of a€€~iara[ian in aceardancc with
<br />paragraph t4 haroof. Such notice shell provide a period of not less than ltT days from the data the notice is mailed within
<br />which Harrower may pay the sutra declared due, if Harrower fails ro pay such sums prier to ttte rxpiratitar of st[ch parted,
<br />Lender taay, without further aaticc ar demand an Borrower, invoke any remedies permitted by paragraph 18 barest.
<br />Nast-t3r+r~rrst Ctrvetsan•ra. Barrr}wer and i.andar furthtt€ covenant and agr~ tf€ hlts-wrs:
<br />la. Aeeek:tetioat Restedlea. >6aeep! !d prori~d ~ paragrapb tT hsreot, open iotrsrsrss'a tsrearh ~ rray reree~at er
<br />afZrastasat of Borrower la thtr Morglrge, laaltdia8 the roveaaeh to pay ssher dee easy seas scarred try tYh MortpBe,
<br />I.eeder pt~ ea reeekratloA daB aarB aotke W Borrower rs provided ~ parat;rrp6 N heraot sperttyie#t {I} tiu brerah;
<br />(2) the aatlee K9~+d ~ ewe wrA brash: t3} a dtUa. sot ksr Hun 38 dt~s ~ rie die tiw rs#ke Y twBed to Barrawar,
<br />by whkh rash btwch wwt be clued; tied (4) thrt trflaro to Bass wah March .ir ea• belors the iNe ~ecitled M the aotk'e
<br />sari reeeM M readeratioe of the wtaa tuaared by th4 Mortgatse, tawsaieaere bf ~ctat pwceaditsg sad aria d the Troparty.
<br />The aotite alttll fsalhar fatasm tlwreaer of the r$ht h- retarhte atNx ~ sad lire rtskt ro srrM is the [orsalosnn
<br />preaeedhR tl[e aoe.erdeb€ece ~ a ddrsak or say other deterae of Borrower b accYleraHar red torsctowro. U the brerch
<br />b teat erred oa or before the date speaglsd 'a the eotlt.'s, Leader at Leader's opttoa euy dce4ro aq of the sdma secured by
<br />4[la Mosfga{o ou be Immadirdsly des sad pt~yahk without farther derurad rod r~Y toreaiose by jsdlctai proceedneg. Larder
<br />shell C;b eatMed M coNect M catch rB expemetr ~ forecioeaee, laaladhrg. bat sot BmMed to, accts of docuetsatary
<br />es'i~attae, rbtdrra4 red tick tepostts.
<br />Ip. 'orroteer'a ~t to ltataartate. Notwithstanding Lender's acceleration ai the sums secured by this Mortgage.
<br />Borrower shalt have the rtght to have any proceedings begun by Lander to enforce this Mortgage discontinued at any time
<br />+. ,. ,y
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