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<br />Lender's written agreement or applicable law. Borrower shall pay the amount of ail 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, shalt 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 rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate would be contrar}' to applicable law, in which event such amounts shall bear interest a[ 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 />S. IvspecHan. 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 [o any such inspection specifying reasonable cause ±herefor related to Lender's
<br />interest in the Property.
<br />9. Covdemo9t&~n. 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 com•eyance in lieu of condemnation, are hereby assigned
<br />and shat! 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 Lender
<br />otherwise agree in writing, [here shall be applied to the sums secured b}• this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Dlortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediatety 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 apply the proceeds, at Lender's option, eiffier 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 instaAments referred to in paragraphs i and 2 hereof or change the amount of
<br />such installments.
<br />10. Burrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by'h-° u.•tgab,. gn^*-d by Lsn~r .., any _.,.,.. ....nte._ t of Borrower shalt net operate ro release, in any manner,
<br />the liability of the original f Borrower and Borrower'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 modif}• 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 />1i. Forbearavice by Lender 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 insurance or the payment of [aces or other liens or charges by Lender shall not be a waiver of iender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies C~nlative. 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 equity, and may be exercised concurrently. independently or successively.
<br />23. Snecessors and Assigns Bound; Joint and Several I.iabiBty; Captlons. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the previsions of paragraph 17 hereof. Ait 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 />interpret or define the provisions hereof.
<br />14. Notice. F[tcept for any notice 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 b}• notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested. to Lenders address stated herein or to
<br />such other address as Lender may designate by notice to Borrower 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 designated herein.
<br />15. Uasorvr Mortgage; Governing Law; Severabr7ity. This form of mortgage combines uniform covenan*s For national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real prapert}•. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located In tht
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable taw, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can Ix given effect without the conflicting provision. and io ihu
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after rxordation hereof.
<br />17. Trander of the Property; Assnmptiav. If all or any part of the Pmpem• or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (al the creation of a teen or encumbrance subordinate to
<br />this Mortgage (b) the creation of a purchase monn• security interact for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or idl the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at Lntder'x option, declare alt the sums secured by this Mortgage to be
<br />immediatdy due and payable. Lender shad have warved such option to accelerate if, prior to the sale or transfer, Lender
<br />and rite person to whom the Property is to be sold or transferred reach agrament in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable an the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />intsrest has executed a written assumption agreement acttpted in w•ri[ing by Lender, Lender shall release Borrower from a71
<br />obligations u~r this Mortgage and the Note.
<br />If Lander exerctses such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shat! provide a period of not less than 30 days Pram the date the notice is marled within
<br />which Borrower may pay the wins declared due. If Borrower faits to pay such sums prior to the expiration of such period,
<br />Leader may, without furtixr notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Nos[-Uxt>:o[tM CovEw~Nrs. Borrower and Lender further covenant and agree as follows:
<br />1& Aeedr~Ios; Remedka. Except as provided in paragraph i7 hereof, upon Borrower's breach of any covenant or
<br />agreastst of Eorrower in tlk Mortgage, ivcladiag the coveeaeM to pay when dne any sums secured by this Morlgagq
<br />Lsaaer prior to aceektatios duB mail entice to Borrower as provided in paragraph 14 hereof specifying: (1) the Drench;
<br />(2) the solos regsked to cue each breads; (3} a dots, rwt leas lino 30 days from the die the notice is mailed to Borrower.
<br />iy wldeh wch breach east be emetk and (4) that fallsre to cnre such breach on or before the date specified in the notice
<br />~ remit ~ ~ of the suss secnred by this Mor~agq foreetoavrc by jedicial proceeding and sale of the Property.
<br />T>~ sathx slog further i 4nrrarver trf the right to reiristde after acceleratMn cad the rigit to assert in t~ #oreclosure
<br />proems the tsoo-ex6teaee of a defeat[ or any other defame of Borrower to acceleration and forectosurc. if the breach
<br />& [sot cared os u before the dots speciRed in the votive. [ender at Lender's option may declare alt of tie corns secured by
<br />tMs Mottange to be lmmmedis6dy due avd payable without farther demand and may foreclose by jndkiai proceeding. Lsvder
<br />shag IK esWkd W ceBect in sect. iproceednvg ~ expeeses of forecioswe, inelndhrg, but not limited to, cads of documentary
<br />svidmee, sbietraeb and title reports.
<br />1~. Borrower's Right u Rehrdata Notwithstanding Leader's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to leave any proceedings begun by i.ender to enforce this Mortgage discon!inited,ar a..~ r~a,__,_.~...~.
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