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<br />79-- ~Ftr;~~20
<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 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 contrary to applicable taw, 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. inspection. Lsnder 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 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 cim•eyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the eves 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 to Borrower. In 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 proportiin 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 to the fair market value of the Property immediately prior ro the date of taking, with the balance if 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, either to restoration or repair of [he
<br />Property 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 dt~e date of the monthly installments referred w in paragraphs 1 and 2 hereof or change the amount of
<br />c„ 10. ~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 commence
<br />proceedings against such successor or refuse to extend time ter payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of an}• demand made b}• [he original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Nof s R'aiver. 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 insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this hfortgage.
<br />12. Remedies Cttmulati~e. 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 />13. Successors and Assigns Bound; Joist and Several i.iabt7lty; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns if Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All 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 w be used to
<br />interpret or define the provisions hereof.
<br />1d. Notice. Fatcept for any notice required under applicable law to be given in another manner. (al env notice to
<br />Borrower provided for in this Mortgage shall be given b}• mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or a[ such other addre~ as Borrower may designate by notice to Lender as provided herein, and
<br />(b1 any notice to tender shall be given by certified mail, return receipt requested. ti Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any nitic~ provided for in this
<br />Mortgage shall be domed to have been given to Borrower or Lender whrn given in the manr+.cr designated herein.
<br />IS. IJaiform Mortgage; t~overaiag Law; SeverabBity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to wnstitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction ir. which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law•, such conflict shall roe atleci
<br />other yrovisions of this Mortgage it the Note which can be given effete without the conflicting provision. and to this
<br />sod the provisions of the Mortgage and the Note are declared to be severable.
<br />16. Borrowers Copy, Borrower shall be furnished a confirmed copy of the Note and of this Mortgage at the time
<br />of exeattion or after recordation hereof.
<br />17. Treader of the Property; Assumption. If all it any pan of the Property or an interest therein is sold or transferred
<br />by Borrower w$Iwut Lender's prior written consent, excluding (al the creation of a lien it encumbrance subordinate to
<br />this Mortgage, Rr) the creation of a purchase money security interest for household appliances. (c) a transfer by devise.
<br />descent or by operation of iaw• upon Iht death of a joint tenant er (dt the gran[ of any leasehold interest of three years or less
<br />trot containing an option to purchase, Lender may, a? Lender's option, declare alt the sums secured by this Mortgage to be
<br />immediately due and payable. under shall have waived such option to accelerate if, prior to the sale or transfer. Lender
<br />and the person to whom the Pmptny is to be seid or transferred reach agreement in writing that the credit of such person
<br />is satisfactarv to Lender and that the interest payable on the sums secured by this Mortgage shah 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 />interest has executed a writtrn assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligafiotts under this Mortgage and the Note,
<br />I£ Lenikr exercises strch option ro accelerate, Lender shall mail Bon~ower notice of acceleration in accordance with
<br />paragraph 34 hszeof. Such nonce shall previdte a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails !o pay such sums prior to the expiration of xuch period,
<br />I-cn„er may, without further notice or demand on Borrower, invoke any remedies permitted by pazagraph 18 hereof.
<br />NaN-t3r+tiottrt Covetv,tNrs. Borrower and Lsnder further covenant and agree as follows:
<br />i& Aecderatlon; Itemediea. Fscept as presided ie pat:Fraph t7 iserrof, upon Borrower's breach of any corcaaat or
<br />nEseemeat of Borrower ie this MotiEags, ittelading the covenants fa pay when die ar.;• sums secured by this 1lorgfage,
<br />Lasder prior' to aeedeeatiea sJmil ~ notice to Borrower as provided in paragraph 14 hereof specifying: (1) the bleach;
<br />(21 tYe aeNoa requited f0 cure tech 6~reaeh; (3) a date, not kas !lieu 38 days from the date the entice i& mailed to Borrower,
<br />by s)tith each beeat6 ttatart be sare$ sled (d) that 6i;ure !o core susb breach on or before the daft specified in the notice
<br />~y rbstt in stseehrador of the snits secured 6y the Mortgsde, foreclosure by jatikial procsedirtg and sate of the Property.
<br />The isaAire ehtdl further fcttmu Bortnwse of the ti;ht to teiustate after accektation and the right to assert in the forecMstns
<br />PAL ~ ~n~isteece of a drfauN or any other defense of Borrower to accekration and forstlosnre. If dhe breach
<br />L tint toted an a before the date specifies in the notice, Lender at Lender's option may declare aU of the sums secured 6y
<br />thk Mostgarge to he immediately dale and payable without further demand amt cosy foreclose by judicial proceed'nttg. Lender
<br />-- sht~ be eati<led to rnlGeet in sx6 ptoceedttta tdt ezpe~ of foreclosure, indud[ng, but not limited to, costs of documentary
<br />evidence, abstracts sad tole reports. - -
<br />19. Borrowerrs Bishi to Reinstate. Notwithstanding Lenders acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have any procecdin¢s lxgun by L€ndsr ?i enforce ±his Mortgage discontinued at any time
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