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79- U(~t3051
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of a!1 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 [hereon, 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 pa}vtrent thereof. and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal undo the Note tmless payment of
<br />fnterest 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 hereundee.
<br />B. llnspectioa. Lender may make or cause to be made reasonable articles 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 />9. Condemttatbn. "the proceeds of any award or claim for damages, direct or rnnsequential, 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 s total taking of the Property, the proceeds shat) 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 agrce in writing, there shall be applied to the sums secured by this Mortgage such proportfon 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 valtre of the Preperty immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<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 collect and apps}• the proceeds. at Lender's option, either to restoration or repair of the
<br />Properh• 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 drce date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such insiallrxnts.
<br />1®. ]iorrower Nat 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 Borrowei s successors in interest. Lender shall not be required t~ 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 by the original Borrower and Borrower's successors in interest.
<br />]1. Foebesa~e try lender Not a Wrtrer. Any f.;rFtearance by Lender in exercising any tight or comedy 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 procurement of 'rmurance or the payment of taxe< or other liens or charges by Lender shall not be a waiver of Lender s
<br />right to acceluate the maturity of the indebtedness secured by this Mortgage.
<br />]2. ReroediES CtasankRlve. 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 egairy, and may lie exercised rnncurrently, independently or successively.
<br />13. Saceesvaxs and Asai6as ISannd; Je®t and Several f.iablHR; Captions. The covenants and agreements herein
<br />contained shat! bind, acrd the tights hereunder shall inure to, the respective successors and assigns of Lender and Bonowu,
<br />subject to the provisions of paragraph '.7 hereof. All covenants and agreements of Borrower shalt be joint and several.
<br />The captions acrd headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />irrtcrpret or dolma the provisions hereof.
<br />10. Neliee. Except for any notice required under applicable law to be given in another manner, (al any notice to
<br />Bormwu provided far in this Mortgage shall tx givrn by mailing such notice by certified mail addressed ro 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 Linder shall be gitrcn by certified mail. return receipt requested, to Lender's address stated herein or to
<br />such other address as Lerr~r rStay designate by notice to Borrower as provi3zd herein. .4ny natfw••e provided for in this
<br />Mortgage shall be domed to have been given to Borrower or Lender when given in the mcnrter designated herein.
<br />]3. Udform Motttt~e: Go~ereing Lase; Severabiky. This form of mortgage wmbinp uniform covenants for national
<br />rrse and tx+n-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrvmeni covering
<br />real propertg. 77»s Mortgage shall be governed M• the law of the jurisdiction in which t)te Property is located. In the
<br />event that any provision or clause of this Mortgage ar the Note rnnflicu with applicable law•, such conflict shall not affect
<br />other provisions of this Mortgagt or the Note which can be given effect without the conflicting provision, and m this
<br />cad the provisrors o€ the Mortgage and the NcXe are declared to be severable.
<br />26. Eoaswwda Ceps. Bosrowu shall Ix furnsshed a confermcd copy of the Noce and of this Mortgage at the time
<br />of eset:uiion or after :+ecordatmrt hereof.
<br />17. Traatter of !ie Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (bl the creation tf a purchase money security interest for household appliances, (c) a transfer by devise.
<br />desornt or by operation of law upon tnc cicarit of a joint tenant or (dt the grant of any leasehold interest of three years or less
<br />~t oantaining an option to purchase, Irndu may, at Lrnder's tsptitsn. declare all the sums srocurcd by this Mortgage to be
<br />immediately due and payable- [.ender shall have waived such option to ar:celerate if, prior to the sale or transfer, Lender
<br />attd the person to whom the Prepemy n to be sold a; transferred reach agreement in writing that the credit of such persort
<br />is satisfactory to Lemiu atsd that tiu interest payable as the sums secutxd by th:~ Mortgage shall be at such rate as Lcndcr
<br />shall request if Leader has waived L'te option to accclcrate provided in this paragraph 17, and if Borrowei s successor in
<br />iafr~cst has executes a written mutmption agreement accepted in writing by Lender. Lender shall release Borrower from x13
<br />dbligato:u under tble bfortgagt and She Note.
<br />If Leadu txercises such option to ucekrate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 1S hctuif. Stxir ttoticc shall provide a period of not less than 30 days from the date the notice is mailed within
<br />w`.;$ Bmrnwer may pay the stmss dxlared : tse. if Borrower fails to pay such sums prior to the expiration of such period.
<br />Lender may, without further noc'sce or dentanel on Borrower, invokt any remedies permitted by paragraph 1$ hereof.
<br />;tiSort-Ur~rtFOxet Covex~xrs. tiotrower attd Lender further covenant and agnce as follows:
<br />ld. R R~1ks .Eaeep2 's }sevided to {rte l7 btreaf, upon Borrower's breach of ray coveaaot or
<br />afirmoeK ~ Eerrower is tick Mortgage, loetadiaQ tie eoveaaats to pay whoa doe any sums secured by this Morf~e,
<br />lteaix paAr to acerdQaBes ~ aui troOk~e m lfiorrewer m provideden paragrap4 !4 hereof specifyh~: Il) the breach:
<br />(21 fire ardlaa ee4sitd to ease atsci ireach; 13) a iarke. not lax t6ta 3® days tram Ilse drte the oatlre is mrFled to Borrower.
<br />by rriidt aaelr irrasei and ie eta+e~ art (d) tiW fatiarc ro cent such breach oa m before the date speciJitd in tie notice
<br />arrtp nwtt ~ aesdeea6ast of tit yours roomed lay ~ Mor~age, foeeeiasnre by jadkid peocudi>q cad sde of the Property.
<br />lie sa~lite riaY Grtriv faEarv Ilearower a6 tbt rlgM ~ rebtatate rfter scemletrtioa sad the right to amen le the foreclosure
<br />prareeedllatt tie aaamtddeace at a dtdaait rr dy other defence of Borrower to aceeltration and foreclasnte. If tie breach
<br />Y trot rued oa ~ before rice daro spediei 4 ffie aoti~re, leader at [.antler's opttoa may deatare ell of the sums secured by
<br />ebb to k ie due acrd pyabie wkbtmt farther demand end may foreclose by jnalcirl proceediug. Lender
<br />siiaf ie e~tlri to ceAeet ~ ardt r~ expermes of forcebsarc, led, bW not Braked to, costs of documtatery
<br />eviiancr, airbacb ant titre relrortr.
<br />1S. laraewrr^a IRitbR b Relertste. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br />Honower mall have the right to Rave any proceedings 6+egun by Lender to enforce this Mortgage discontinued ar any nine
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