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79-- UU3723
<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 Lender to incur any expense or take
<br />any action hereunder.
<br />8. htspedion. Lender may make or cause to be made reasonahle entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonahle cause therefor re!a*.ed ±o 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 [hereof, 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. paid to Borrower. In the event of a partial taking of [he Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this MorlgaRe 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 Propert}' immediately 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, 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, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments.
<br />Z0. Borrower IQoi 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 anti riranricr,
<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 Borrower's successor in interest.
<br />11. Forbearaett 6y Lender Not a R'aiver. 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 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 Mortgage.
<br />12. Remedies C®afative. P.11 remedies provided in this Mortgage are distinct and cumtdative 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. Sacttssors and Assigns Bound; Joint and Several iaabt7ity; 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 provisions of paragrap` 17 hereof. All covenants and agrcements of Borrower shalt 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 xo
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Burrower provided for in this Mortgage shall lIe given by mailing such notice by certified mail addressed [o 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 notice to Lender shall be given by certified mail, return receipt requested, to Lenders address stated herein or to
<br />such other addras as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be dcemed to have been given to Borrower or Lender when given ir. the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; SeveraMlih'. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />rent property. 'This Mortgage shall be governed by [he law of the jurisdiction in which the Proptriy is located. In tht
<br />evrnt chat any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />o:lttr provisions of ibis Mortgage or :he Ivrote which can be giver, eff~t without the conflicting provtston. and SO SKIS
<br />end the provisions of the Mortgage and the tiote are declared to be severable.
<br />1C borrower's Copy. Borrower shall be furnished a conformed copy of the Dote and of this Mortgage at the iitne
<br />of ezecutiott or after mordation hereof.
<br />1T. TnmRfer d eke Propnty; Al+wmptioa. -f all or am' part of the Property or an interat therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a tier. or encumbrance subordinate to
<br />this Mortgage, fb) the creation of a purchase money security' interest for household appliances, (c) a transfer by devise.
<br />descent of by operation of law upon the death of a joint tenant or fdt the grant of any Itasehold in[erat of three yeah or less
<br />not containing an option to purchase. Lender may. at Lender's option. declare alt the sums secured by this Mortgage to be
<br />immediately dtte 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 Sransferred reach agreement is writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable ar. the sums secured by this Mortgage shall be at Such rate as Lender
<br />shalt request. If Ixltder has waived the option to accekate provided in this paragraph 17, and if Borrower's successor in
<br />intvest hu exer.Ited a written assumption agreement accepted in uniting by Lender. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option [p arselerait. Lender shall mat! Borrower notice of acceleration in accordance with
<br />paragraph 1S hereof. Bach tlestice shalt provide a period of not less than 30 dayx from the date the notice is mailed within
<br />which Borrower may pay the sums dxlared due. If Borrower tails to pay such sums prior to the ezpiratinn of such period,
<br />Lender may, without further notice or deatand on Borrower, invoke any remedies permuted by paragraph 78 hereof.
<br />Nor+-UN1t~OaM COV>ausrtrs. Borrower and Leader further covenant and agrce as follows:
<br />1$. Actrltrratloa; Rem Fstep! ffi provkkd is paragrapb 17 hereof, open 6ortawets breack of nay covenant or
<br />agrrmeat d Dosrosrer i &k Mottgttge, Ineludtag the rnvenants to pay .rhea doe soy male scented by thLs Mortgage,
<br />I.®des prkx to aeedvalios ~ mail notice to Borrower as prorided in paragraph ld bored specify: (1) the breach;
<br />(~ ~e actlas tegslQed b emt [arch breach; (3) a date, ant leas than 30 days from the date the sotiee b mailed to Borrower,
<br />ley wiiek neck krrsrk meet lea seedy smd {4y YkB fa9an to can such breach o0 or before the date specified io the notice
<br />e+0' seeM is aeerjua8oe d the seats second ley thk Mortgage, forecloean by jadieial proeeedfeg sad sale d the Property.
<br />The saline skab tatYc ie<ore borrower d the right to nbsttate after aceelerstbs aed tke rigbE to assert Sa the foreclosrue
<br />psaeaediog eke noetasteett d a default a any other defence d borrower to accderation sad forteiosare. iE the beach
<br />b sat coed oa or hdore Ure date spa•161ed ~ eke eotitt, Leader st Lender's option stay declare aFl of the sums secured ley
<br />tkis Melpge to be istaedLtdy doe sad payable witboat Further demand and may foreclose by judicW proceeding. Lender
<br />ehab be esdtled ~ cobect 6r each proceedbrg ab e:pessea d foreclosnn, iactud6rQ, but sat BtnNed to, costs of documentary
<br />erideste, ab~cacts sad tie rsptrrls.
<br />19. bsarowes4 Rlgkt to Reiaw;.de. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Bormwec shall have the right to havt any proceedings begun by finder to enforce this Mortgage discontinued at any time
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