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79- ~t-?Q38
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance 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) 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 open notice from Lender to Borrower requesting payrrrent thereof, and shall bear interest from the
<br />date of disbursement a! 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 />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder,
<br />8. Inspection: 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 specifyi.^,g reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Coademnatbn, The prxeeds 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 Peoperry, 4he proceeds shall be applied to the sums secured by ;his 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 market value of the Property immediately prior to the date of taking, with the balance of the prxeeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the conBemnor offers to make
<br />an award or settle a claim for damages, Borrower faits 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 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 1 and 2 hereof or change the amount of
<br />such ittstailments.
<br />Iff. Borrower Not Releases. Extension of the time for payment or modiflcation of amortization of the sums secured
<br />by ibis Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in my manner,
<br />the liabliry of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successoe or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand ma3e by the original Borrower and Borrower's successors in interest.
<br />Il. Forbrgracce by Leader 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 gtrocurement of irrst:ravce 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 indebtedness secured by this Mortgage.
<br />f2. Remedies Caahttive. Al! remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equiv. and may be exercised concurrently, independently or successively.
<br />13. 3acceasors sd Assigns Boaed; Joint and Several ira6ility; Captioc.. The covenants and agreements herein
<br />contained shalt bins aid the rights bereunder shall inure [o, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisi.vts of paragraph 17 hereof. All covenants and agreements of Borrower sh~Il be joint and several.
<br />'I]te captions and heaatr~ of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or defroe the pr~visioos hereof.
<br />1a. Notice. Ezxpt fo; any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mo:•~age shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Atldrtss or at such oth. - addrecs a- Aorrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Leader shall be given by certified t-tail, return receipt regttesied. to Lender's address stated herein or to
<br />such other address as Lender may designate by notice ~ Hor:twer as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner desiyrated herein.
<br />IS. UaRwm Mortgage; Governing Lary; Severa6ility. This form of montage combines uniforo. n vcnants for national
<br />tr5e and tort-uniform covenants with limited variations by jurisdiction to constitu:_ a uniform stx~.riry ~strument covering
<br />rest property. This Mortgage shall be governed by the law of the jurisdiction in which "~- '.'t~perty tt located. In the
<br />event that any provision or claux of this Mortgage or the Note conflicts wish applicable law, st,,h conPtet shalt not affect
<br />ottrer 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 sad the Nete are dtxlared to be severable.
<br />Ili. 3orrower'a 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 />17. Tramler of the Property; Asrwmptiea. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrowu without Lender's prior written consent, excluding (a) 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 />destxnt or by operation of law upon the death of a join[ tenant or fd) the grant of any leasehold interest of throe years or less
<br />not coataia~g an option to purchase. Lender may, at Lert~r's option, declare alt the sums secured by this Mortgage to be
<br />immediately due and papabie_ Leader shah have waived such option to accelerate if. prior to the sale or transfer, Lender
<br />sett) Fix person to whom tlx Property is to be sold a t:a;,sferred reach agreement in writing that the credit of such person
<br />is satidss-tery to I.ertdcr and that the intemt payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shall tequa~i. If Lander has waived the option to atxx'xrate provided in this paragraph 17, and if Borrower's successor in
<br />tersest has executed a writtu assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obiiguioas tnxter this Mott$age and the Note.
<br />If Larder esertases such ngti~ to acxelerate, Lender shag mail Borrower notice of acceleration in accordance with
<br />parrgraph Id hereof. Such notice shall proride a period of not less than 30 Bays from the daft the votive is mailed within
<br />which Borrower may pay the sums declared dtx_ if Borrower tails to pay such suvts prior to the expiration of such period,
<br />Lasda may, withou further avrticc or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Ntm-1)trtroart Covetsexrs. Borrower and Larder further covenant and agree as folloavs:
<br />lg, Aaadeaalls~ Raae~ Fscept as pto+ided 1a paragraph 17 berotd, epos derrower's preach oI say coveasm or
<br />~ Der:ssar ~ th$ Mmfgsge, iaebs~g the caverraats m pay when +~ say same seeared by t6Yis Mortgage.
<br />Leader psfmr to aced~tiw ahd maY notice to loerawer as prot~ed fa paragrgtir 14 bereol ~fyiag: (1) the breach;
<br />(A Elie acNaa b a'e each laeaeh;l3) a dsh. aw leas rhea 3o days Irnm the date the notlce is mailed no Borrower,
<br />hl witch seep preset isaru he creed) asi (~{) thrN ftrNaee to use web beach on or helort the dab ttpet:38ed br the aoticc
<br />~@' rsrwtt hs aeniCa~ets at Nee cams seraned by ~ Mortgage, farecie~e bJ' jrdicial proceedieg o~ sale d the Property.
<br />pile wa6R else)) kse~ $stosu Baesarter of ~e right m reiaatste after aceekraiion sad the right to aga+ . Hx Iorccfosnrc
<br />pwatttridg Ac aawmtriwwee of a daTaafx at say other tlefpre M borrower m xroeteratioa sad [orcclaeare. to Nee 6reacb
<br />i amt caved ar er be[oer the drlOt f® the wetlrY, I.ader at Leader's eptlon may decbire a9 of ~e was sea. rod by
<br />8da 4s be IsrdFaldy doe sea pwyahie wit tsather dewed sad mray torecloae by judicial proceeding. Le..+er
<br />ii 6e attt6tlei to aNert 6t each at eapeaaes M fteredoaum, iocladieg, bat sot Bmled to coAs oI decamenlary
<br />trrideaet. dtr6mear sad iMle eeporfa.
<br />I3. Raesowds Rig1R is ReLA~. Notwithstanding Lender a acceleration of the sums secured by this Mortgage.
<br />Borrower sirali have the rlghl to have a+ry proceedings begun by Lender to enforce this Mortgage discontinued at any time
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