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<br />79-~ UU2721
<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 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 I.endPr 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 of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspecTOn specifying reasonable cause therefor related to Lender's
<br />interest in the Froperty.
<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, ar 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, paid to Borrower In the event of a partial taking of the Property. unless Borrower and Lender
<br />otherwise agree in writing, there shalt be applied to the sums 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 to the fair market value of the Property immediately prier to the date of taking, with [he 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, either 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, env 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 installments.
<br />1B. II..;.-romps *:ot °~lx~.~d. Extat+.sioo of th? *.ime fnr 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 anp 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 for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable taw, shalt 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 ether liens nr 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 Ctimnlatlve. All remedies provided in this Mortgage are distinct and cumulative to any other right ar
<br />remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Saecessas and Assigns Bound; 73rint and Several i,iability; Captions. The covenants and agreements herein
<br />crontained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof All covenants and agreements of Borrower shall be joint and several.
<br />'llte captions and headings of the paragraphs of this Mortgage sre far convenience only and are no[ to be used to
<br />interpret or define the provisions hereof.
<br />10. Notice. Except for env notice required under applicable law to be given in another manner, {a? any notice to
<br />Borrower provided for in [his 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 notiro io Lender shall be given by certified mail, return receipt regtrested. [o Lender's address stated heroin or to
<br />such other address as Ixnder may designate by notice to Borrower zs provided herein. Any notice provided for in this
<br />Martgage shall be dcemed to have bcen given to Borrower or Lender when given in the manner designated herein.
<br />13. Uniform Mortgage; Governing Law; Severability. This farm of mortgage combines uniform covenants for national
<br />rue and non-uniform covenants with limited variations by jurisdiction to constitute a uniform securty instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that env arovision ar clause of this Mortgage or the Nate conflicts with applicable taw, such conflict shall not affect
<br />other provisions of this Mortgage ar the Note which can be given effect without the conflicting provision, and to thu
<br />end fire provisions of the Mortgage and the Note are declared to be severable.
<br />16. Eorrower's Copy. Borrower shall be furnished a confomted copy of the Note and of this Mortgage at the time
<br />of exa_vtion or after recordation hereof.
<br />17. Tra~'er of the Property: Assumption If all or any part of the Property or an intemt therein is sold or transferred
<br />by Borrower without Lenders prior written consent, encluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security 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 leasehald interest of three years or less
<br />not containing an option to purchase, Lender may, at Lrnder's option. declare all the sums secured by this Mortgage to tx
<br />immediately dtx and payable. Lender shall have waived such option to accelerate if, prior to the sate or transfer, Lender
<br />and the person to whom lire 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 intemt payable on the sums secured by this Mortgage shall be a[ such rate as Lender
<br />shall regtrat. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a writttn assumption agrcement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligatirnu trader 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 t4 hrreof. Such notice shalt provide 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 ro pay such sums prior to the expiration of such period.
<br />Lendtt may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1 g hereof.
<br />Nox-Uxrt~att Cavertexzs. Borrower and Lender further covenant and agree as follows:
<br />1& Aceekrdbn; Remedies. 1Fattpt as provided in paragraph 17 htreaf, upoe Borrower's breach of any covcoant or
<br />asrersest of Borrower in this MoAgage, including the covenants to pay when doe nay saure aecored by this Mortgage,
<br />Leader pttia to aecekratioa sha8 mail aotitt to Borrower as provided in paragraph 14 hereof specifplug: (1) the breach;
<br />{2) ~e action regahed to erne web brescb; (3) a date, rot leas than 30 days from the date the notice is ma7ed to Borrower,
<br />by which each breach mast ie eared; sad (4) that faaare to cure sorb breae6 oa ar before the date specified is the notice
<br />essay rank is of the atoms scented by Ibis Mortgage. fombsore by judicid proceeding aml sak of the Property.
<br />The aatlee t`mih~ f®form Borrtewtt of thr r~bt k+ ree after accderation avd the right W assert iA Ure foreclosure
<br />. pnceediag the r~deace of a detaek or any other defense of lgorrowu to sccekrotioo and foreclosure. u the breach
<br />is sot cased as ar before t>x date apcd6ed in the aotlce, Leader at Lender's option may dcclan all of the stmts secured by
<br />thla to be iaraxdl~y doe and payable without fortbtr demand sod may foreclose by judicial proceeding. Leer
<br />a>aA 6e eadlled b rn7leet ie wch proceeding ail expenses of foreci~nre, including, btrt not lunited to, costs of documentary
<br />evidence, abetracla sled title report.
<br />19. iortawera Rlgbt to AetasWe. Notwithstanding Lender's acceleration of the sums secured by this Martgage,
<br />Borrower Shall have the right to Gave arty proccedings begun by Lender to enforce this Mortgage discontinued at any time
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