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79... u[~3152
<br />Leader's written agreement or applicable law. Horsower shall pay the amount of al! 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, shall become additional
<br />indebtedness of $orrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender !o Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time fo 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 Y.ighest 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. lospeetioo. 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 />4. Co~emoatbn. 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 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 Lendtr
<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 beats 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 abandoned by Borrower, or if, after notice 6y 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 da}•s after the date such notice is
<br />malted. 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 Mcrtgagt.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the dx date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />1®. ]ltorrower Not Released. Extension of the time for pa}'went or modification of amortization of the sums secured
<br />iij leis 'm`arigagt gr~itea' by Ltrtaer io any successor in interest of Bortowtr shah not operate to reitase, in any manner,
<br />the liability of the original Borrower and Borsowei 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 by the original Borrower and Borrower's successssors in interest.
<br />11. Ltrorbear~ce 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 procurement of iastlrance or the payment of razes or other lirns or charges by Linder shall net be a waiver of Lender's
<br />right to accelerant the maturity of the indebtedness secured by this Mortgage.
<br />12 $eredies C®alaffre. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy utrdtr this Mortgage or affords 6y law or equity, and may be exercised concurrentty. independently or successively.
<br />13. Satecnsoas sod Assigns IRouad; islet and Sererd Lia6;Bly; Caprices. The covenants and agreements herein
<br />swats-sired shall hind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to tlx pmvisiass of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />irrtupr=t or define the provisions hereof.
<br />II. Natlee, ~«pt for any ttotitx required under applicable law m be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given try mailing such notice by certified mail addressed to Borrower st
<br />the Property Addles or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />tbi my roller to Lender shall be given by rxrtified mail, mum receipt requested, to Lender's address stated herein or to
<br />ssrctr other address as Lender may designate by notice to Borrower as provided herein. Any notice provided far in thu
<br />Mortgage shaft be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />IS. Uadlor=111oetgagr, Co*~L Law; Severab8Ry, This form of mortgage combines uniform covenants far national
<br />use and rat-uniform covenants with limited variatiats by jurisdiction to constitute a uniform socurity instrument covering
<br />rut property'- this Mortgage shag he governed by the law of the jurisdiction in which the Property is Located. In the
<br />e+~trt that any provniat or clause of this Mortgage or the Note conflicts with applicable law, such conflict shag not affect
<br />other provisioru of this Mortgage or the Nofe which can be givrn effect without the conflicting provision. and to this
<br />earl the prwisioes of ttx Mortgage and the Nate are declared [o be sestrablc.
<br />ld, 14rwwera Cory. Bartower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of ezecsrtion or after ruordation hereof.
<br />17, Traaafer of tt~ IiReprsiy; If all or any part of the Property or an interest therein is sold or transferred
<br />by 8orrc^ser without l.tndcr'a prior written coastnt, excluding (a) the creation of a lien or etrcumbnnce subordinate to
<br />this Iliortgagc, {bi the cieatiat of a purchax mone}• securiq• interest for household appliances, (c) a transfer by devise.
<br />deacmt or by operation of law open the death of a joint tenant or {d) the grant of any leasehold interest of there years or leas
<br />oar coataioatg an option to purchsse, Lender may, at Lrn~r's option, deters all the sums secured by this Mortgag>• to be
<br />imtaediattiy due xrd payable. Leader shall hale waived such optiar to accelerate if, Prior to the salt or tramfer, Lender
<br />aed the persat to wham the 1'rapcrty is to 6c sold or ! ~nsferred reach agrxtr>rat in writing that the credit of such persar
<br />h rsdisfanury to irnder sad that the interest payable on the sums secured by this Mortgage shall be at such nett as Lersder
<br />slaII If Leader lsas yraivcd the option to a;~leratt provided in this paragraph 17, and if Borrower's auectsaor in
<br />iniermt has esecvted a rvritttst asstttttption agreement xctpted in writing by Lender, T~ndtr shall release Borrower fr•~rt all
<br />obigatioes under this Martgagt and tltr Note.
<br />If I.a~ ezucises larch option to ateelerate, Lendtr shall mail Borrower notice of acceleration in accordance with
<br />paragaph l4 hereof- Serb ttoti~ct shall provirk a period of rat less than 30 days from the date the teotice is ma8td within
<br />xi..~r B~rciztr may pay Use smrts declared drx. It Borrower fails to pay suds wens prior to the txpintion of such period,
<br />Lander may. withart furtlsv trains or leaned on Borrower, invoke any remedies permitted by paragraph 1 g hereof.
<br />N+8'r-Utvrr'oax Ctrvttmretan. 8orrowtr and Lertdtr further covenant and agrce as follows:
<br />It Sxaedka. Ii~cgt r ! fs paragraph 17 hereof. tspoa P3orrowea's breach of aey roveaast or
<br />sg~t of 1larrawar b Ills !l4o~e, the eoveoasls m pay when doe say mm aerated by tbis Mortgage,
<br />IAise ~s1ar b n~aBrts stole aaaY notlte b liorrnwer s provided io para~prpti Id iercof sperHyisg: (1) rtes breath;
<br />IYf tits allies ragied is anti and lrwefs; t3) a date, sot leas slue 30 ~ from ~e date the notice is ended to IBorrower.
<br />iy s~ west 1lsaael wM lk ~ aed (4) flat taiht+e to ties saci breach oe or before the date apetiRed ie tie notkro
<br />asg rniC L ttewieta~an d tie scow stxned 63 ~ Morti+tla+ foreclawre by ~ditW proceedheg lard ode of tie Property.
<br />'!>se eaBte sfufl 1 iafasm Sorraiiwa• at ~e rid to rebr~ afltt ~a aed fie to aacest i the foreclasare
<br />Rns~ tlr wq•edsimts of a de~nM or airy otter defense of Bartvwer >a accderatien sad fprecbsere. $ the 6rtsch
<br />i not sari m rr >t~s tie datr spetlied ~ ebe notice, Leader at l[.tadcs's cellos may deehre a8 of the soma secured by
<br />eta a ie idy due sad paydtie wkbK farrier demand and may foreclose by jodleW proceeding. Lendtr
<br />s!a® ie angled a celiect ba anci lree~ a8 ettpeasea of fcredesure, ioxio~rg. let not llm4ed to, costs o! docomeotary
<br />evEisnce, aLhtAract• art trots rerosts:
<br />19. 16orrorre~s IRtgit is Betanrzrte. Notwithstanding Leader's acceleration of the sums sxured by this Mortgage,
<br />Borrower ahaB ltavc the tight to lave any proceed-en;s begun by Len~r to enforce this Mortgage discontinued at any time
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