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79-~t_,3260
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner ptoovided 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 race payable from time to time on outstanding principal under the Nate 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 />g. 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 specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. '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 tender.
<br />Ia the event of a total taking of the Property, the proceeds shalt be applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid [o Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shat) be applied to the sums secured by this Mortgage such proportion of the proreeda
<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 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 da}~ 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 />Froperry or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, am• 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 installmenu.
<br />18. Borrower Not Released. Extension of the time for paytnent or modification of amortization of the sums secured
<br />~ eL:.. Ma"t a°° 'eu v • L°ea a+"`~°c+ ~ st+.."'~°... .., a..at. w. ^f ;~+'~`r: ^•wtr eitait tti•t n ~~ta f wlan~ an_V mAnneT,
<br />J . .~ ..b ~ gra.:. ~ ,o any ~sM, .. ;.,, .a..., ..,;.,...... n ,_ t
<br />the liability of the original Borrower and Borzawei s successors in interest. Lender shall oat be requirednto 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 matte by the original Borrower and Borrowers snccessors in interest.
<br />11. Fotbearanee 6y Lender Not a Wsdver. Any forbearance by Lender in exercising am 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 imurance or the payment of taxes or other liens or charges by Lender shalt not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Renredia C®raLtive. Atl remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by taw or equity, and may be exercised concurrentty, independently or successively.
<br />13. Ssceeasors sold A~w Bones; Joint a~ Several Liability; CapBoffi. 'the covenants and agreements herein
<br />rnrttained shalt bind, and the rights hereunder shalt inure ta, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shalt be joint and several.
<br />Tlx captions and headings of the paragraphs of this Mortgage are far convenience onl}• and are not to be used to
<br />interprU w define the provisions hereof.
<br />i4. NoHee. Except for any ttoiice required under applicable law to be given in another manner, {a) any notice to
<br />Borrower provided for in this Mortgage shall 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 rsotice to Lender shall be given by certified mail, return receipt requested. to tender's address stated herein or to
<br />such other address as t.tndtr maj designate by notice to Borrower as provided herein. Aey notice provided for in this
<br />Mortgage shalt be deemed to have beta given to Borrower or Lender when given in the manner designated herein.
<br />15. iJm7aan ~ Govtrn®g Law; Severab0ity. This form of mortgage combines uniform covenants far national
<br />use and non-uniform covenants with limited variations by jurisdiction is corsstiture a uniform security instrttrrtent covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in w•3tich the Property is located. In the
<br />event that any provision w clause of tins Mortgage or the Note conflicts with applicable law, such conflict shag not affect
<br />otixr provisions of this Mortgage or the Note which can be given effect without the ~ronfii,ting provision, and to ibis
<br />end the provisions of the Mortgage and the Note are declared ro be severable.
<br />16. >eano+rcre Copp. Bornower shalt be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution w after recwdatitxt hereof.
<br />17. Traoder of tie Ttoperty; Aarmptioo. If ail or any part of the Propcrcy or an interat therrin is sold or transferred
<br />by Borrm-rr without tinder's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, {b) the creation of a purchase monty security interest for household appliances, {c) a transfer by devise,
<br />desxnt w by optration of law upon the death of a joint tcaant or {d) the grant of any leasehold interest of three years or less
<br />tort cosfaiaing an option ro purchue, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately dtx aru! payable. Leader shall have waived such option to accelerate iE, prior to the sale or transfer, Linder
<br />and the oermn to wham the Property is [a be sold or transferred roach agreement in writing that the credit of such person
<br />is:atisfsctory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />sba4 rte. If I.eadtr bas waive! the option to accelerate provided in this paragraph i7, sad if Borrower's successor in
<br />invest has exeeuttd a writt~ assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br />oblisuirms under this Martgsge and the Nwe.
<br />If header ezue~es such option to accelerate, Leader shall mail Borzower notice of asttleration in accordance with
<br />paragraph l6 heteef. S~rr1t notxt shall provide a period of not Itss than 30 days from the date the notice is maned within
<br />which Borrowv may pay the sums declared due. If Borrower fails to pay such wens prior to the expiration of such period,
<br />i-fader taay, withtntt further notice w demand on Barrowtr, invoke any remedies permitted by paragraph 18 hereof.
<br />Nmta-Ut~rtt+~at Cov~ut~s. Borrowcr and tender furher covenant and agree as follows:
<br />1& AeedaaHaw; Yesedfa. Sampt ab provided i• paragrph l7 herto#, upon $orrower's breach of nay rn-eaam or
<br />apeeaeot d Borrower i >lfs More, iste~rg the cpve~ to pay when doe any soma secured by this Mortgtge,
<br />Lenit+r peiar ~ ace~atlso stash eqB notlee ~ Borrower w provided is paragraph 14 bsreof specify: (1) tie breach;
<br />(~ the aetlw re~sited to eae sect ir*ack i3? a daft, not leas tin 38 days from the date the notice k mailed to Borrower,
<br />-y wltki sari 6reaei[ teas! ie c~ as+d (I) tied frr~e M cme ssch branch oa or before the die speti6ed io the notice
<br />~ rrslK is usdtsffiaa ~ ile rsmt aornred h7 tlds Morlgatge, foraelowre by jndlel~ procetdi~ and sale of the Property.
<br />'19te aeRee stirll Its hdsarn Borrswm of tlr: tfg~ to rye after :ttrkrffiioa and t~ ~ fo art is tit foretlaa[ue
<br />prnee~ Bre asfMesisieaee of a dehaM ar rrfy other de[ense of Borrower to actekration and #orecbwre. iE the breach
<br />i oat deed ~ or bailors tie date spe!lid it fie tsotlct, t.eader at Lender's opdart may dtcl.re dl of tie soma secured by
<br />t9ds I1ior4~e ~ 6e b~atd7 Axe std payable wiWoart faAher demand amI may foreclose by judicial proceaiting. Lender
<br />ttltaB 6e b toBeet fie wet preeaet~ sdl expetues of torertoanrc, intlnding, but not Bmied to. costs of documentary
<br />evLisnce, aiehacb asd tttge reperN.
<br />i!. Boravwds ~ to Re6rhNe. Natwithatanding Lender's accekratian of the sums secured by this Mortgage,
<br />Borrower shag lave the risitt to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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