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79--uc~2~4'~
<br />Lenders written agaeement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner ptoovided under paragraph 2 heroof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall became additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amattnts shall bt payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />Batt of disbursement at the rate payable from time to-time on outstanding principal under the Note unless payment of
<br />intuest at such rate would be contrary to 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 hereaadtr.
<br />g. Crmpectioe. 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 reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />S. Coadtmtrathin. 'Ilte 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 />to 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 tzndzr
<br />otherwise agree in writing, thee:; shaft 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 tF.e date 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 abandorted by Borrower, or if, after notice by Ixnder to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender 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 restoration or repair of Ytrc
<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 rite monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments. -
<br />16. 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 :o release, in any mantser,
<br />[he hablrty nr° the Oflglnal SJtrJwer and BOROwe! S successors i^ interest Lender shall not be required 20 COmmttMe
<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 Borrower's successor in interest.
<br />Il. Forbearance 6T F.eadu Not a Waiver. Any forbearance 67 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 irtsurance or the paytrtent of taxes or other liens or charges by Lender shall not be a waiver of Leader's
<br />tight to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />li lite~es L~mo4tlre. 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 lee exercised concurrently. independently or successively.
<br />13. Sacceaems sad Assigns Boaad; Joint and $tveral I.iabBtly; Cams. 'iLe covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Botmwer,
<br />subjecx to the provisioffi of paragraph 17 hereof. Atl covenants and agreements of Borrower shall be joint and several.
<br />'ilte 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 />1~. NaNet. Fatcept for any notice required under applicable law to be given in another manner, la) any notice to
<br />Borcower provided for 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 az Borrower may designate by notice to Lender az provided herein, and
<br />fb) any notice to Lender shag be given 6y certified mail, return receipt requested, to Lender's address stated herein or to
<br />such other address as Lewder may designate by notice to Borrower az provided heron. Any notice provided far in this
<br />Mortgage shall be deemed to have bete given to Borrower or Lender when givrn in the manner designated herein.
<br />IS. Utrffotm Moetgstge; Govtruiog Law; $everab9Hy. This form of mortgage combines uniform covenants for national
<br />tt~ and non-uniform Covenants with limited variations by jurisdiction to cortstitute a uniform security instrument coveting
<br />teal property. I'nis Mortgage shall 6e goverrxd by the law of the jurisdiction in which the Property is located. in the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shalt not affect
<br />other provisions of tfiis Mortgage or tt+~ Note which can be given effect without the cortflicting provision, and to this
<br />end the provisans of the Mortgage and the Noie are declared to fx severable.
<br />1tF. Dorrowtr's Copy. Borrower shall be furnished a conformed copy of the No[e and of this Mortgage at the time
<br />of execution or afrtr tecordati~ hereof.
<br />17. Trader of the Property; Aswmptioa. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrmver without Lcntler's prior written consCnt, excluding (a) the creation of a lien or encttmbrahce subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by deviz,
<br />decent or by operation of law upon the death of a joint tenant or (d} the grant of any leasehold interest of tfirec years or less
<br />rot containing an option to purchase, Lender may, at Lender's option, dxlare all the stems secured by this Mortgage to be
<br />iritatediatety due arnt payable. Lender shall have waived such option to accelerate if, prior to the salt or transfer, Lender
<br />and the person to whom the Property is to be sold or transfured reach agreement in writing that the credit of such person
<br />a satif~tnry W Leader and that the iatetest payable on the sums seared by this Mortgage shall be ai such rate as Lender
<br />shall regtresi. If Leader has waived afie option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written sssumptiam agreement accepted in writing by Lender, Lender shall release Borrower from ail
<br />oi>ligatiosts tinder this Mortgage cad the Note.
<br />if Lertder exercises such option to accelerate, Lender shall mail Borcower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such rtotitx shalt provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the stems dxiarcd due. If Burrower fails to pay such sums prior to the expiration of such period,
<br />t.eader may, without further notice or demand on Borrower, invoke any remedies permitted by paragrapfi 18 hereof.
<br />Nora-UHrr~oara CovenuNrs. Borrower neat Ltrrder further covenant and ague az follows:
<br />11L o - ''-~; IRtme~ II»rtept as pmavidtd fin paragraph 17 6ertof, open Borrower's breach of soy coveaaut or
<br />~ Borrower ~ ffii 7Vlertgase, 6acludie; the awveoaats to pay when sae any sums secured by thh Mortgage,
<br />I.eoier psor to aeetleatba ~ ~ oofict to Borrrower ~ provided ie paragraph 14 bored apceifyiag: (1) the breach;
<br />(ZD fie atBsa r>agaitai to ew sack breach; (3) o date, not less thsa 30 days from the date the oatice is mailed to Borrower,
<br />1-y rrl~[eisatlt beach cwt Ire cured; sad (4) mat EaBare Ea cure sack bratch oa or betarc the date specified io the aotlce
<br />aqQ t+enk:ic saoa of fie ~s stxar:d by ~ Mme. foreclosart by jadiriai proeeedngg sad ~ of the PropeAy.
<br />1is asAlcs ahsY Etatbsr fafonst Dorzorrer td tie right fo t after aeeekrwa+s aed the right to assert is the fonclasure
<br />trai:e~ the aasatdetgsee of a dsfdt ar -nay other deEettae of Borrower to accekradotw sad foreclosure. if the breach
<br />A sat emt~d w or beEartti the date ks tie eotitt, Lauder at Leader's option may declare all of the sums secured by
<br />Mdri t4taslpge ~ be dpe-tai payidrk wNhout further demand and may foreclose by judicial proeeeditrg. Leader
<br />shall is atlOd M e6~ct ha swh P ~ tspeoces of Eorctinsare, brdadhtg, but ant llarked to. costs of documentary
<br />tratte ad ilfk zcports:
<br />E9. >seerowes's &f<firt to IRdntsRe. Nota-ithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borower shalt have the right io have any procetKtings began by Lender to enforce this Mortgage discontinued at any time
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