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Lender's written agreement or applicable law. Borrower shall pay the amount of ail mortgage insurance premiums in the
<br />manner provided under paragraph 7 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become add'etiooai
<br />indebtedness of Borrower secured by [his Mortgage. Unless Borrower and Lender agree to ether terms of payment, such
<br />amounts shall be payable upon notice from Lender [o Borrower requesting payment thereof, and shalt 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 taw, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections o[ the Property, provided
<br />[hat Lender shall give Borrower notice prior iv any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. Ilse proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />~ condemnation or other taking of iha 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. ¢aid to Bormwer. In the event of a partial taking of the Properly. unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sv.ms 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 bears in the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid [o 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 faits 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 either to restoration or repair of the
<br />Properiy or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower o[henvise agree in writing, any 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 ar change the amount of
<br />such installments.
<br />16. Borrower Not Released. Extension of fhe time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to an}' 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. i_cnder shall not he required [o 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 am' demand made by the original Harrower and Borrower's successors in interest.
<br />11. Forbearaon by Lender Not a q'aiver. .4ny forbearance M' Lender in exercising any right or remedy hereunder, or
<br />othcrw~se afforded by applicable law, shall net be a waiver of er preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens ar charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies CttmatafFe. All remedies provided in this Mortgage are distincI and cumulative to anp other right or
<br />remedy under ibis Mortgage or afforded 67 taw or equine. and may he exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound: Joint and jevezal 1,iabt73ty; Captions. 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 provisians of paragraph t7 hereof. All covenants and agreements of Borrower shaii be joins and several.
<br />Tile captions and headings of the paragraphs of this Mortgage are for rnnvenience only and at° not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for an}' 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 narrower 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, return receipt requested, to Lenders address slated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided far in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner desiznated herein.
<br />I5. Uniform Mortgage; Govemie~ Law; Severabfiity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform secunty instrument covering
<br />teal property. This Mortgage shall be governed b}' the !aw of the jurisdiction in which the Property is located. In the
<br />evrnt that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Nate which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />14. borroser's Copy. Borrower shaii be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Aswmption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower wiihnut Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b} the creation of a purchase money >zcurity interest for household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shall regttest. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />roterest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of no[ less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared dtte. If Borrower fails ro pay such sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph I $ hereof.
<br />Nox-UxtFOaM CrnExtix7s. Borrower and Lender further covenant and agrce as follows:
<br />lfl. Aecekrriioa: Remedin. Fscept as provided ie paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Eoaower in thk Mortgage, iacludiag lire covenants to pay when due nor sums secured by this Mortgage,
<br />Leader pxztr to ace¢k~itos ~ t~ notice to 8orrawer as provided in paragraph 14 hereof specifying: (i} the breach;
<br />(2) the actba required to erne snob brsach; (3! a date, not leas than 30 days from the date the notice Is ma$ed to Borrower,
<br />by which aneh Meech mart be eared', asd (4} that fa7ure to cure such breach o0 or before r>K date specified in the ntstke
<br />may rr>taN in seceie:atlon of the wms accared by this Mortgage, foreclosure by jodiciai ptoreeding aad sale of the Property.
<br />The notice ahaG nether form Borrower of rise right to reinstate after atteietatioo and the right to assert in the foreclosure
<br />Prod the Iron-es6tenee of a defasdt tx any otixr defense of Borrower to acceleration and forecloavre. R the breach
<br />b net eared on or before the date specified is the notke, Lender at Leader's option may declare ail of fhe sums secured by
<br />this Morfgaga to be immediately dae and payable witltout further demand and may foreelose by judicial procetding. Leader
<br />shall be eatttDed to collect In snob proeeew;ng alt expenses of fombsurc, itxtudiog, but not Bmited to, costs of docameetary
<br />egl~nce, abatracta and title reports
<br />19. Eorrower'e Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Bormwer shall have the light to have any proceedings begun by Lender to enforce tF.is Mortgage discontinued at any time
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