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79-w Ul-3181.
<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, 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 payeble 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 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. Inspectba. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shah give Borrower notice prior to ar.~• such inspection specifying reasonable cause therefor related to Lender s
<br />interest in the Property.
<br />9. Coademnatioo. 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 th.~ Property. the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if env, paid to Borrower. 1n 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 wfiich the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking bwrs 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 by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails ro 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 pros°ds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such irtstatirrterts.
<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 to release, in any manner.
<br />the liability of the original Borrower and Borrower's successors in interest Lender shall not be required to comrnence
<br />Proceeding ao lost such successor or refuse to extend hme 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 />f i. Forbearw,ce by Lender Hot a Waiver. Any forSearance by Lender in exercising am' right or remedy hereunder, or
<br />otherwise afforded by applicable taw, shall not be a waiver of or preclude the exercise of env such right or remedy.
<br />The procurement of imurance or the payment of razes or other liens or charges by Lender shaft not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remeiea Camebgive. Ali remedies provided in this Mortgage are distinct anfi cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equih•. and may be exercised concurrently. independently or successively.
<br />13. Sacceesors ad Assam Baand; joint and Several Liabiilty; Lapdogs. The covenants and agreements heren
<br />contained shall bind, and the tights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. AI] covenants and agreements of Borrower shall be joint and several.
<br />The captions amd htadiags of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />iaterprri or deSne the provisions hereof.
<br />14. Notice. Except for any notice required under applicable taw to be given in another manner. (a) any notice to
<br />Harrower provides for in this Mortgage shad be given 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 shall be given by certified mail, mum receipt requested. to Lender's address stated herein or to
<br />stub other address as Lender may designate by notice to Borrower as provided heroin. Any notice provided for in this
<br />Mortgage shall be deemai to have been given to Borrower or Lender when given in the man :er designated herera.
<br />15. fiJa$arm Moet~gr; Governieg Law; Severabi~•. This form of mortgage combines uniform covenants for national
<br />use and trot-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />teal property. This Mortgage shall be goverrred by the taw of the jurisdiction in which the Property is tocatcd. In the
<br />event Litat any provision ar clause o€ this Mortgage or the Note conflicts with applicable law, such conflict shalt not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, aced to this
<br />cod the provisions of the Mortgage and the Note are declared to be severable.
<br />1ti. litorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />o[ exaution or after recordation hereof.
<br />17. Trwraftt of the ?ropertY; Astaoeptioa. If all or any part of rite Property or an interest therein is sold or transferred
<br />by Borrower without Leader's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase manly security intcrat for household appliances, (c) a transfer by devise,
<br />destxrtt or I>}- operation of taw upon the death of a joint uttant or id) the grant of any leasehold interest of three years or less
<br />not contairting an option to purcitaee, Lender may, at Lender's option, dulare all the sums secured by this Mortgage to be
<br />irnmodiately doe amd payable. Lender shall have waived such option to acceferau if. prior to the sale or transfer. Lender
<br />and the person to wharn the Property is to be sold ar transferred reach agreement in writing that the credit of such person
<br />is t;atisfactory to Lander aced that the iatcrat payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />s1aB tngoest. If Letter has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />intatxt has ea~ttted a written awnmption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Linder exercises srteh option to aectkrate. Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph f4 hetaof. Strdr notice shall provide a period of not lus than 30 days from the dale the notice is marled within
<br />whleti Borrower may pay the streets dxlared due. If Borrower fails to pay such sums prior to the txpiration of such period,
<br />Lender rosy, withtnrt further arxice or demand an Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Haut-tJtrti astat foveNexis. Borrower and Lender further covenant and agrce as follows:
<br />1& Aetdeeafioa; Rest. IR.zsepi • prerid~ ~ paraQaph 17 hereof, oPon Eorrowet's breach of my rovemtd ~
<br />a~raeaeed d Eaergwsr i• rile Modyage, g the roveaaota W pay wiser doe any same ttecarcd by lib Mortgage,
<br />Ldar peix M acednatiea eia9 eaail eadee to iorrewer m provided in paragraph 14 hereof speclfyhtg: (1) the bleach;
<br />(~ tie atllw regoFtad io rnee wsdt beach; (3y a Jute, cot kae ihaa M Jaye imw for date the aodce ie clotted to Ibrrower,
<br />BY wMei loci laari rtwt be ewrdi wed (41 fiat tattoo to care such bread on or adore the date epeeiied to the notice
<br />weq malt ter aarele<a6ea of tie large eecrud by ffifs MortpKe, [oredosore by jadicid proeeediag aced sale of the )freperty.
<br />Tie ttpidee airs ftrtier Wamtt lim~rowrsr of the rigor to nloNte sfter ae:eeleratloa and the right to aeaert iaa the foreciasorr
<br />fir e d a Jdaak or nay od>rw deter d Earrower le acuksafion and /oreclaeare. u the breach
<br />i oat cord oa ar bdan tie data >9tacMai 18 the Hader, Leader at Lewdar'e optbo Wray deebtn d of the sums second by
<br />this llee4gase N be ' doe ssd paYabie wMhoat forthrr dewaad and may forrciox by f adirial proce~ing. trader
<br />sba~ be aerYOeJ to caieet i• each proaxdfast: as s:pecan of forec#oaare, iaetadhtg, but oat Bmited to, cads of docaoteatary
<br />erYwte, aidraeta ad tlAti reipat~
<br />ftl. )taetswar'a Rl~ftt to Rabekww. Natwithetsnding Lender's acceleration of the sums secured by this Mortgage.
<br />aotiaw-ter bhp ia:e 6~rc t tv ~:-r aaj ia~ otg[m ay Lerdzr to ¢nfcrez this 'dar•.gage distartsnt>`d at any tirrx
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