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79- iv~t:~e3~4
<br />Lenders written agreement or applicable law. Borrower shall pay the amount of alt 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, shalt become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to since terms of payment, such
<br />amounts snail be payable upon notice from Lender to Borrower requesfing 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 wauid be contrary to applicable taw, in which event such amounts shall bear interest at the highest rate
<br />pertnissible under applicable iaw•. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. lnspecfion. 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 inspeciian specifying reasonable cause there€or related to Lender's
<br />inetrest in the Property.
<br />9. Coodemoation. 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 bt paid to Lender.
<br />In the event of a total taking of the Property, the proxeeds shall be applied to the sums secured by this Mortgage.
<br />with the excess. if any, paid to Barraw•tr. In the event oC a partial taking of the Property, unless Harrower and Lender
<br />otherwise agreesn writing, there shall be applied to the sums secured by this Martgage such proportion of the proceeds
<br />as is equal to that proportion wfiich the amount of the sums secured by this Martgage immediately prior to the date of
<br />caking bears ro 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 Propem• 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 far damages. 8arrawer fails to respond to Lender within 30 da}'s after the date such notice is
<br />mailed, Lender is a:altorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Propem~ ar to the sums secured by this Mortgage.
<br />Unless Lender and Harrower otherwise agree in writing, anp such application of prtxeeds to principal shall oat extend
<br />or posfpont the due date of the monthly iitstaltments referred to in paragraphs 1 and ?hereof or change the amount of
<br />such installments.
<br />18. Borrower Hat Released. Extension of the time for payment or modification of amortization of tfie sums secured
<br />by this iicttgage granted by Lender to any successor in interest of Borrower shall net operate to releaze, in any manner,
<br />the liability of the original Borrower and Borrower's successors in intemt. Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend time far payment ar etheruise madif} amortization of the sums
<br />secured by this Martgage by reason of any demand made bs the ari¢inal Borrower and Borrowers successors in interest.
<br />11. Forb~te by Leader Not a Waixre Anc forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shalt nai he a waiver of ar precPude the exercise nF any such right or remedy.
<br />The procurement of imurance or the payment of taxes er other liens or charges by Lender shall not be a waiver of Itnder's
<br />right to at:celerate The maturity of the indebtedness secured by this Mortgage.
<br />12 Reme~ea C~mnhtive. Ali remedies prosidtd in this Martgage are distinct and cumulative to any other right or
<br />remedy uitdrr this Mortgage or afforded by law ar equity, and may be exercised rnncurrenth•. independently or successiveh•.
<br />13. Sateesars and Alas Bound; Joist sad Several I.iabl8ty; Captions. The covenants and agreements herein
<br />caniaiocd shag bind. and the r_ghts hereunder shat] inure ta, iht respective sum^essors and assigns of Lender and Borrower,
<br />subject to the provssions of paragraph i? hercif. .0.Z! covenants and agreements of Borrower snail be joint and sevxral.
<br />The captions and headings of the paragraphs of this Martgage are far com•enitnce snip and are net to be used to
<br />interpret or dttine the provisions hereof.
<br />14. Notice. Exa:pt for any notice inquired under applicable law to be given in anattxr manner, .al any native to
<br />Borrower provided far in this Mortgage shalt be given by mailing such notice b} certified msii addressed *,o Borrower at
<br />the Property Address nr at such other addresc as BOfTawef may designate by native to Lender as proridcd htrein. and
<br />(b) any notice to Lender shag be given b} certified msii, return receipt requested, to Lender's address stand htrein or to
<br />catch other address as Lender mss designate h}• rwtice to Borrower as provided herein. Any notice provided for in this
<br />Mcmgage shall 'x deemed to have trxn given to Harrower or 1_ender when given in the manner designated herein.
<br />IS. [G"allot' Moet~e: Goverrs~g taw; Severs6~ty. This form of mort¢age cnmbitxs uniform covenants for national
<br />:ae and noa-uniform covenants with limiitcl variations by jurisdiction to co:rstituts a uniform cleanly instrument covering
<br />teal propett3°. This Mortgage shall bt goverotd by the law of the jurisdiction in a°hich the Preptrty is located. In the
<br />evens thu any prnvisiaa ar tiaust of this Martgage . r the Vase conflicts with applicable taw, str<h cintflia shall oat affe.-t
<br />,~~' p.v.isR3s of i_kis Martgage ar eht Nc+tc which can be given etTecet without the conflicting provision. and to this
<br />end the provisions of the Mortgage and the `vote arc declared to be sevtrablt.
<br />1£ iertvrrrr"s Cope, Borrower steal; rte ft,Tnished a canfarmcd rap}' of the Nntt and of this Mortgage at the time
<br />of execution or after rernrdatiorr hermt.
<br />17. Ttanefer afi tie Property: Aawsptioa, If all er any part of Ihr Property ar an interest thcroin is sold or transferred
<br />Ay Harrower without Lenders prior written consent. excluding lei the creation of a lien ar encumbrance subordinate to
<br />this Mortgage, (b) the creation of a punhase manly securih~ interest for household appliances, eel a transfer by wise,
<br />tleacatt or by operation of law upon the death of a irnm tenant nr tdt the grant of an} lcasehoid intttrst of three years or less
<br />oat containing an option to purchase, Linder may, nt Lender's npticm, da:lare ail the sums secured by this Mortgage to be
<br />itnmediarely due and payable. Lendtr shall hoax waived such option to axelerate if, pricer to the Bait ar transfer. Lender
<br />and the perarxt to whom the Propert}' n to be soil ar transferred reach a_r<rciment in writing that the credit of strch person
<br />h satisfactory to Lendtr and that *.ht intcrtst Wyabk an the sums secured h}' this Moztgage shall be at such rate as Lender
<br />sltaB regtxst. If Leotkr has waists; the ataian to acotlerate provided in this p_ragraph 1',, and if Borrower's sts~-etssar in
<br />itrietect has cxscueed a written aastmtption agreement acttpted in writing by Lender, Lender shaft rekast Harrower front all
<br />ohligatotss urttkr this Mortgage ate tIu Nate.
<br />If Lender txrn'ists surd option to acttleratt, Lendtr shall trtail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Steele natitx shah prrn-sde a period of nai less than 30 daps from the date the notice is ma$ed within
<br />w)i~ Borrower ells}• pay the sums declared due. if Bortawcs fails ro pay such sutras prior to the expiration of such period,
<br />Leader reap, w%thout further mitt ar demand an Borrower, invoke any remedies pcrmined by paragraph t g hereof.
<br />Nmv-Uxtratrt Cavf3,texss- Horrrnver and Lexrdtr further eovtnanl and agrez as iollaws:
<br />Ifl. ~ aces is psstriiei N - i7 bercaf, upou i8arrawer`e hrtaci of any coveaaat or
<br />adta~nt of flatrowv ~ dric Mast age, istlrii~ dse coveamta Co py when doe say wffi setrrsd by ti9is Morlgsge,
<br />Easier poise b acrdeeatieta ai~ll ash aafFre to Harrower s prodded is pasatgrtspA 14 Atatof specify~g: 11) the breaeA;
<br />~ He asdsn ~ M ere salt ireat4 tai r date, sat lees rise 3li days fram tlrc date tic notlte la mailed to Eorrower,
<br />iy *~ soot issaei enrrt 6e eared; std N1 As¢ faiore fe cwt wen irtaeA er or Adore Nrc da4 apeei8ed io tAe aodce
<br />sap ehtle ~ arodmadon d tie .sea aecared Dy tiie Morttptee, lamloese by jrdk~I proceeding sad sale of tAs Property.
<br />rte awrke ~ faetise itonn Danewer d tie sigftt s rd.sese after attelet>4ba asd tAt tigAt zo aser! is ~ fom~tae
<br />p[aceaditg Bar: al a ddsrd ar any otter defense of borrower to acceceeratioa and foceebsure. If the 'lsearA
<br />Y stet ewatl ai ar iwelue fie date apatiied i. tie aotiee. Leader st Leedetrs option auy declare aH of tAe sews secured by
<br />ttik M b ie immadbrdy doe sad psysiia s-lthaot fertier drmaad sad may foreclose by jaditid proteedirtg. Lender
<br />ail )k enlifled to eoieci ft set praxes sdl txpneec of fereeiasure, iaela~q, brt not Broiled to. casts of ebcnmeotary
<br />svidrnce, aiadraeb and tide rtpoAa.
<br />1!. lnresaste'a ~ to Asiea4lt Notwithatattding Lender's acceleration of the sums secured by this Martgage,
<br />Botrosvet shall Gave the tt~t [o have arty prucudirtgs begun by Lender ro enforce this Mortgage discontinued at any time
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