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<br />79- ~;'Il~~~;w~
<br />Tzader"s written agreement a€ applicable law. Borrower shah pay size amauot of adl rnangage 6rzsurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon, shat! became additional
<br />indebtedness of Borrower secured by this Mortgage. Unless $orrower 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 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 rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />Irrmiss4hle ender appLcable law. Nnthivg rnntaine~! in this aaragraph 7 shad require T.ent~r ro incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Lender may make ar cause to lc made reasonable entries upon and inspections of the Progeny, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damaees. direct cr consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or for convenznce in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a total taking of the Properly, the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if any. paid to Borrower. Tn the event 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 io 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 prier 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. 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 3Q days after the date such natice 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 b}' [his Mortgage.
<br />Unless Lender 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 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Rdeased. Extension of the time for payment or modificaeion cf amortization of the sums secured
<br />by this Mortgage granted by fender rn env cuccesmr in interest of Rnrrower shall not operate m release, m 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 Borrowers successors in interest.
<br />11. Forbearance ley Lender Not a R'aiver. Any forbearance by Lender in exercising any right er 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 bens 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 Camalative. All 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. Successors and Assns bound; Join! and Several Liability; Captions. The covenants and agreements herein
<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. All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to he used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law m be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given b}' mailing such notice by certified mail addressed to Borrower at
<br />the Properly Address or at such other address as Borrower may designate by nonce 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 address as Lender may designate by notice to Borrower as provided herein. .4ny notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or i.cnder when gwen in the manner designated herein.
<br />15. Uniform Mortgage: Governing Law; SeverabBity. This form of mortgage combines uniform covenants far national
<br />use and nan-uniform covensnts with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shalt be governed 6y the !aw of the jurisdiction in which the Property is bated. In the
<br />event that any provision or clause of this Mortgage oe the Nntc conflicts with applicable law, such conflict shall not artcct
<br />other 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 Nore are declared to be severable.
<br />16. Borrower's Copy. Borrower shalt be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />77. Transfer of the Property; Assumption. Tf 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 lien or encumbranw 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 ]aw upon the death of a joint tenon[ or {d) the grant of any leasehold interest of threr 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 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 Lender and that the interest payable on the sums secured by this Mortgage shall he at such rate as Lender
<br />shall request. If Lender has waived the option [o accelerate provided in this paragraph I7, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shzll 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 period of not less than 30 days from the date the notice is mailed within
<br />which Borrower mcy pay the sums declared due. if Borrower fails ro pay such sums prior tc the expiration of such period,
<br />Lender may, without further notice or demand nn Burrower, invoke any remedies permitted by paragraph ifi hereof.
<br />Nan•UtvtFaa[.t COYENANT5. Borrower and Lender further covenant and agree as fellows:
<br />18. Acceleration; Remedies. Except as prorided in paragahph 17 hereof, upon Borrower's breach of nay covenant or
<br />agreement of Borrower in this Mortgage, iacladirrg the covenants to pay when due any sums secured by this Morgptge,
<br />Leader prier to aceekratbn shag mail aotke to Borrower as provided fe paragraph 14 hereof specifying: (1) the breach;
<br />(2) the actbn required to eurc such breach; (3) :date, not kae than 30 days from the date the notice ~ mailed to Borrower,
<br />by which snob breach mttst be cured; sad (4) thN fa8nre to enrc such breach on or before the date specified in the entice
<br />may resnk in aeealeratioo of the sn~ secured by the Mortgage, foreclosure 6y judicial proceeding and ssk of the Property.
<br />The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceedi~ the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. !f the breach
<br />h not enrol on or be[orc the date specU7ed in the rte-}se, Lender at Lender's option may declare all of the sums secured by
<br />this Mortgage to be Immediatdy due and payable without further demand and may foreclose by judicial proceedi~. Louder
<br />shall be entHled So rnllect fn such proceedtng al! expeasea of foreclosure, ine!ndlrtg, but rso! limited to, costs of documentary
<br />evidence, abstracb and title rcporb.
<br />19. Borrower's Right to Rdrotate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have soy p. xeedings begun by Lender to enforce this Mortgage discontinued at any time
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