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79-x= UU2844
<br />Ixader's written agreement or applicable law. Borrower shall pay the amount of a!1 mortgage insurance pm:miunrs in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shsll become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lenaer agree to other terms of payment, such
<br />amounts shall be payable upon nonce 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 io applicable',aw, 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 under to incur any expense or take
<br />any action hereunder.
<br />8. Iaspectlon. Leader 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 reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />4. t;e[adtmnsfffin. The proceeds of any award or claim for damages, direct or consequzntial, in connection with any
<br />condemnation or other caking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shalt be paid to Lender.
<br />In the event of a tote! 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 6y this Mortgage such proportic,.i 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 market value of the Property immediately prior to toe date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is ahandoned by Bortower. ar 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 under within 30 days after the date such nofiee 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 proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs ]and 2 hereof or change the amount cf
<br />such installments.
<br />I8. Borrower Not Released. Extension of the lime fo: 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 ir. interest. Lender shall not be required to comment.
<br />proceedings against such successor or refuse fo extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgagt by reason of any demand made by the original Borrower and Borrowers successors in interat.
<br />Ii. Forbeusece by Leader Nof a Waiver. Any fortcarance by Lender in zxercising any right ar remedy hereunder, or
<br />otherwise afforded t;y 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 tares or other liens or charges by Lander shall not be a waiver of Lender's
<br />right to actxierate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies C®taiaHive. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under rtes Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Saccemors aril As&gas 18oaadi Jaiot and Several I3ah8iq; Captions. The covenants and agreements herein
<br />contained shall hard, and the rights hereunder shall inure ro, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. Ail covenants and agreements of Borrower shall be joint and several.
<br />The capiioas and 6eadiags of the paragraphs of this Mortgage are for convenience only and are na to be used to
<br />interpret or de5ne the provisions hergf.
<br />1d. Notice. Except for any notice required under applicable !aw to be given in another manner, (a) any notice to
<br />Borrower provided far in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Burrower may designate by notice to tender as provided herein, and
<br />(b) any aorta to Lender shall be given by certified mail, return receipt requested. to Lender's address stated herein or to
<br />such anther address as LemEcr may designate by note to Borrower as provided herein. Any notice provided far in this
<br />Mortgage shall be deemed to have been given to Borrower or I.etider when given in the manner tlesignated l~rein.
<br />i5. Uaiftum Moripge; GoseisiaE Law; SevenbilBy. This form of mortgage rnmbines uniform covenanu for national
<br />use and eon-uniform covenants with timited variations by jurisdiction to constitute a uniform security instrument rnvering
<br />teal property. This Mortgage shall be gover»ed by the law of the jurisdiction in which the Property is located. In the
<br />went [hat any provision ar clause of this Mortgage or the Note conflicts with applicable law, such conflict shat: not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to this
<br />end rho provisiaas of the Mortgage and the Note are derlazed to tie severable.
<br />i6. limrower's Cope. Borrower shall be furnished a conformed rnpy of the Note and of this Mortgage at the time
<br />of exavtian or after retardation hereof.
<br />11. 'homier of the Property; Asmmption. If all or any pars a[ the Property or an interest therein is sold or transferred
<br />by Borrower without bender's prior written consent, excluding {a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the Creation of a purchase monn• security interest far household appliances, (c) a tratufcr by devise,
<br />deac~t or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of throe years or less
<br />trot containing an option to purchax, Lemter may, at Lender's option, declare a!l the sums secured by this Mortgage to be
<br />iatarediatdy dru and payable. Lender shall have waived w:h option t_n accelerate if, prior to the sale or transfer, Lender
<br />and the person to why the Property is to be sold ar transferred reach agreement in writing the[ the credit of such person
<br />is satisfactory to L_oder and that the interest payattle txi :hc sums secured by this ',inrtgage shall be at such rate as Lrndar
<br />shag tegtsest. if Lender bas waiver' the option to arelerate provided in this paragraph 1), acrd if Borrower's successor in
<br />interest has e:ecuitd a writt~ assumption agrotmet[t atctp[ed in carting by Lender, Lertdcr shall release Borrower from ail
<br />obligations under this Mortgage and the Note.
<br />If lto~r exercises such option to accelerate, Lender steal! mail Borrower notice of accelttation in acaordsace with
<br />paragraph 14 henxiL Such notice shall provide a period of oat less than 30 days from the date the notice is map*d within
<br />which Harrower mat Pat the stuns deciarul due. I€ Borrower fails to pay such sums prior to the expiration of such period,
<br />Leader may, without further antics or denwrd on Borrower, mvokc any remedies permitted by paragraph 18 hereof.
<br />N~a-Ut+tt>~tK Cervgwettrs. Bomawer and Linder further rnvenant and aura as follows:
<br />1>!. Ateelerttia~ )ttamee>ita 8seept as pra+ided i paragraph I7 isrmf, upoe 16orrower'a breach of any covenant or
<br />a~teemwt of Itiortawer *a dils MerlEage, t tYe eevemots la pay when doe nay ores accrued by lib Moms,
<br />[~ pdm ie ace/ trim aba0 uuH sotkxe m liarrawer >u prorriied &- paragraph t4 bereot speNtetag: (t) the brei.~;
<br />l2i rie at9iaa teq,ara to cane aaci brmei; i3) a date, not iew lieu[ 39 days from t~ daft the sotice a milled to l0orsower,
<br />i7 rtrbieh ~ bread recant 1k ematk and (d} that fttlare to care sacb beeac6 oa m 6dore tic date speedkd is the aotlee
<br />atq swat ia.eede»Eia. at tie canes seemai by rile Mores Eomioarre by iadicW peoeeediaie cad sale at tic Property.
<br />'Efetrtegite a4aliaailtm itdetm iaroarsr d Ike rlBit to reJeatate aftm aeeNeneEoo and t~ rim to assert ®t~ forecbsurt
<br />tit aea•ce d a +iataahl tsr arty oHtr dtfseat ref ifasroxer M accrhration anvil toreelosare. lff tic bmaeb
<br />Y trot ~ oa oe bdoee fire data aFeeilpei ie ~ sotke, Leader at Leader's optlot[ may dechrt aB ~ tie cams secared by
<br />Yria b bt doe aai payaite wigwm tattier demand and may foreclose by jadkta! proceedl~. Leader
<br />alaA 4 e~tl>fed to twlett i[ stele paaotetdit~ aid ettpemea of tombsare, faci[r~, tat tat llmked t0. eoau of documtatary
<br />eridtaee, abatruta and title teptrtts.
<br />13. IMatowars ~ to aRet~fe. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borntrwer shag Lava tie rib[ to have nay proeeediags begun by ixrrder io tsrforec this Mongage discontinued at any time
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