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79- ut:020
<br />Leader's written agreement or applicable taw. Borrower shall pay the amount of alt mortgage insurance gremiums in the
<br />meaner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, 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 bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal undee the Note unless payment of
<br />inherent at such tale would be contrary to applicable taw, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />S. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shalt give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemrntton. 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 />In the event of a total taking of the Property, the procceds shall be applied to the sums secured by this Mortgage.
<br />with *.Ite cxc~e, if any, paid to Borrower. In the event of a partial taking of the Property, unless Bortower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of [he proceeds
<br />as is equal to chat 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 the date of taking, with the balance of the proceeds
<br />paid to Bormwer.
<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 30 days after the date such notice is
<br />mailed, Lender is authorized to colleet 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 shalt 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 />]O. Borrower Not Released. Extension of the time for payment or modification of amortization of tfie sums secured
<br />by ribs Mortgage grtutted by Lender io any sut'ixr in irter<,t of Borr~R r shall sot o~*~tc to rel..a~, in_ any manner,
<br />the liablHy 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 6y the original Borrower and Borrowers successors in interest.
<br />]]. Forbearance by Lender Not a waiver. Any forbearance by Lender in exercising any right or 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 procutetnent 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 accelerate the maturity of the indebtedrtess secured by this Mortgage.
<br />]i Aeme~ CameLfive. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />retrtedy under this Mortgage or afforded by taw or equity. and may be exercised concurrently, independently or successively.
<br />]A Seece~ora tend Ash Eonnd; Jobe and Severs Labilityt 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 agreemenu of Borrower shall be joint and several.
<br />The caPtioas and 6eadiags of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />iate:rpret or define the provisions hereof.
<br />]t. Ndisw Fzcept far any rmtice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall he givrn by mailing such notice by 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) any notice to Lender shnil be given by certified mail, return receipt requested. to Lender's address stated herein or to
<br />surds other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage sl;afl be deetnexi m have hem given to Borrower or Letter when given in the manner designated herein.
<br />]S. U~oraa Motltrtte: Geererwirat Law: Sevrrab~ty. This form of mortgage rnmbines uniform covenants for national
<br />use utd nos-uniform covenants with lirttitrd variations by jurisdinion to roratitute a uniform security instrument coveting
<br />real property. This Mortgage shall be governed by tbe law of the jurisdiction in which the Property is located. Ia the
<br />esxrtt that any provisiart or clause of this Mortgage or the Mote conflicts with applicable law, such conflict shall not affect
<br />outer provisions of this MOrtgagc O! Llte Notr whnh can be giveet affair without the varRicting provision. sect to the
<br />end the provisions of the Mortgage and the Nate arc declared to be sewerabk.
<br />]6. 1Rotroster's Copy. Borrower shalt be famished a conformed copy of the Notr and of this Mortgage at the time
<br />of etcecvrtion or after recordation herrof-
<br />]7. Traerlu of tie Tro}aty; Amon. If alt or anev part of the Property or an interest therein is sold or transferred
<br />by Borrower withawt Lender's prior writttn :oruem, excluding (a1 the creation of a lien or encumbrance subordinate to
<br />this Mortgage, {b) the creation of a purchase come} securiq intemt for household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the dash of a join tenant yr ldt the gram of any Icasehold intemt of three years or less
<br />not contrdniag an optitxt to purchase. Lertder may, at Lender's option. declare all the sums secured by this Mortgage to Ix
<br />imaxdistety due atxl payable. Leredtr rJtalt have waived such opticm to accelerate if, prior to the sale or transfer. Lender
<br />and the pertffi to wham the Property is to be sold or transferred reach agreement in writing that the credit of stxh person
<br />is satisfactory sa Leader and that tkte interest payable as the sums sextued b~ this Mortgage shalt be at such raft as Leader
<br />s';JI tegat~t. if i.cttder has stn==vets the option to accelerate provided in this pangnph 1 T. and if Borrower's successor in
<br />interffi has t:eetrted a writttaa asstmrptiaa sgteeartettt accepted in writing by Lett<Ier. Lender shalt release Borrower from all
<br />obl~atioes loader tlss Martgag= and tke Note.
<br />If I.eadcr exercises such option to arxeteratc, Lcttder shat! mail Borrower notice of acceleration in accordance with
<br />paw 14 Jtexeg'. Such noeicx shall provide: a period of not Tess than 30 days from the date the notice ix marled within
<br />whidt Ror:otves stay pay the sums declared dtte. If Borrower faih to pay strch Burns prior to the expiration of such period,
<br />Larder tst7v, without ferztlter aatiee tx demand on t9ctrmwer, invoke any retnedies permitted by paragraph 1 g tterptf.
<br />I~xt-(()trtmaae fiovet+,trrzs. Bortower and Lender further rnveoant and agree as follows:
<br />If. Aaedtmtia~i ) >~!'t as }eovided ie paragrapi ]7 hereof. epos Horrowets breack of any cos____. or
<br />fBsarwsat ~ laese+eer ba this eke covataMs b par whee dee tier seen wtvrd by tJeJs Morfga¢e.
<br />1+wittr !~ b aeeaieeaBtae list sail anfice m aetrrower a provided b pasairapb ]I hereof speed3yieg: t1) eke breack;
<br />~ flit raflae aa*Yiraa b Carte wet laeaetr; t3) a late, sot leas tkw 3o dsrys fnasa tie date eke notice i larded to Borrower.
<br />t~ alter seal inaretr tttat~lt IR eaadF rsi N) list fates d cue seal brac6 oa ar before the elNe apee38ed is tke twtlre
<br />~ >~ Y attedseaBw ttt tilts area toerdd i]' tlais MorfgKe, faeadawrre Isy jod6c3i proceeding ~ stile elf the 1Peeperty.
<br />'~ ~Y€s trials f is 1larseex eft tine rfgld b reJteettei atttr ~ sect the right to assert b the Iorec[aattre
<br />pre aaa.aiArax d a ~eGwilt at satJ osier defeese of sprrower to acceleration wd foreclorare. If the Meacb
<br />L sat deal esa ar Irditr• fie doh spr+dgad fa He strtlee, Leadv at Leader`s option a=ny dutare as of the ~ secured by
<br />BtAt 1Nastp~e b lee keesa~MeiY tree wd 1!eJ~ wl1YoW GtrOCr deawi and wry foreclaae by jtedlcii proceedlau. Lender
<br />tits lee s®~dad b exitc# L wet preetxs$srs ai ~ fercclawte, >xlocdi>q. tax sot Uesked to. cogs etE detcumentary
<br />os°ddwc~., ttftateaets art the >'
<br />]!, ]tarrowel4 Ai~t to laiattara. Notwithstanding Leader's acceleration of the sums secured by this Mortgage,
<br />BDrtO'rrer shall have tlY right W Jove any protxedirt;s b~ten by Ixnder to enforce this Mortgage discontinued ai any time
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