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<br />Lender's written agnaemeat or appiiicable law. Borrower shall pay' t:hc amount e~f alt mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant io this paragraph 7. with interest thereon. shaft become additional
<br />indebtedness of Borrower secured by this Mcrtgage. Unless Borrower and Lender agree to other terms of payment. such
<br />amounts shall be payable upon mice from lender to Borrower re:;uesting payment there. f. and shalt bear interest frrm the
<br />date of disbursement at the rate payable from time to time on outstanding princioa] under the Note unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shalt bear interest at the highest rate
<br />permissible under applicable taw. Nothing contained in this paragraph 7 shaft require Lrnder to incur any expense or take
<br />any action hereunder.
<br />8. lnsi+rctlon. Lender may make or cause to be made reasonable entries u¢on and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection speci"tying reasonable 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 part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />1n 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 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 mazket value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Propert}~ 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 36 days after the date such notice is
<br />mailed, Lender is authorized to coltect 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 proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred zo in paragraphs 1 and 2 hereof or 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 successor 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 shalt not be required to wmmence
<br />proceedings against such successor or refuse to extend time for payment or othe:v+ise modify amertizaiian of ilea sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shalt 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 ro accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Camolathe. 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 Assigns Bootrd; Joint and Several f,iabt7ity; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shay! inure to, the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph I7 hereof. All covenants and agreements of Borrower shat) 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) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice 6y 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) anq nrnice to Lender shall be given by certified mail, remm receipt requested. to Lenders address seated herein or to
<br />such ether address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mcrtgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Montage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform rnvrnants with limited variations by jurisdiction to constitute a unifortrt security instrument covering
<br />real properly. This Mortgage shall be governed by the law of the jurisdiction in which the Propetty is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable taw, such conflict shall not affect
<br />ether provisions of this Mortgage of the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Nate are declared m be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />l:. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold ar transferred
<br />by Borrower without Lender's prior written consent, excluding ta) the creation of a lien or encumbrance 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 shall have waived such option to accelerate if, prior zo the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or tmnsferred 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 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 />interat has executed a written assumption agreement accepted in writing by 1_ender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Harrower notice of acceleration in accordance with
<br />paragraph l~ hereof. Such notice shall provide a period of not less than 30 days fr~,m the date the notice is mailed within
<br />which Borrower nreay pay the sums declared due. If Borrower fails ro pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Note-LitvtFirart CovEttnrtrs. Borrower and Lender further covenant and agree as follows:
<br />18. Aecelerffilon; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any Covenant or
<br />agreement of Borrower In This Mor~sge, including the covenants fo pay when dur any sums secured by this Mortgage,
<br />Leradsr prior to aceeh'ratloo shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach;
<br />(2) tlx actlao regtdrcd to cure each breach; (3) a date, not lem than 30 days from the date the notice ~ mailed to Borrower,
<br />by which sack breach moat be cured; end (4) that failure to core such breach on or before the date specified in the notlce
<br />msq rewN in xceleration of the enters secured by this Mortgsgq forecbsure by judicial proceeding and sak of the Property.
<br />The polio shall fmiher inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />pttaceedi~ the non-exfatence of a defauk or any other defeme of Borrower to acceieratioo and foreclosure. If the breach
<br />~ nut cored on or betore the date specified in the ttotlce, Lender at Lender's option may declare all of the sums secured 6y
<br />thb Mortgage to be immediately due and payable without further demand and may foreclose by judicial proceeding. Lender
<br />shall 6e entitled to collect in such proceeding all expe~ea of foreclosure, including, but not limited to, costs of documentary
<br />evidence, abstracts and title reports.
<br />19. Borrower's Right to Reiasfate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br />Borrower shall have the right to have any yroceedings begun by Lender to enforce this Mortgage discontinued at any time
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