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<br />Lender's written agreement or applicable law. Borrower shall pay [he 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 [hereof, and shat) 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 />G'4 any action hereunder. y p P ~ rovided
<br />r--'+ 8. iasaection. Lender ma make or cause [o be made reasonable entries a on and ins ections of the Pro rty, p
<br />~ [hat Lender shalt give Borrower notice prior to any such inspection specifying reasonable cause thzrefor related Fo Lender's
<br />in[°rest 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, ar for conveyance in lieu of condemnation. are hereby assigned
<br />and shall be paid to i_ender.
<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 arty, paid to Borrower. In the event of a partial taking of the Propert}•, 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 b}• this Mortgage immediately prior tc the date of
<br />taking bears to the fair market va]ue of the Property 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 [he date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds, a[ 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 monthlc installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />lo_ Borrower Not lldeased- 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 [o 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 />procetdings 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. Forbcuanee by Lendtr Not a Waiver. Any forbearance by Lender ;n exercising amp right or remedy hereunder, or
<br />otherwise afforded b}' applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procuremtn[ of insurance or the payment of taxes or other liens or charges 67 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 Cumulative. 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. Ssccessors and Assigns Bonnd; )oia[ and Several i.iaba'ity; Captions. The covenants and agreements herein
<br />Contained shall bind, and the rights i.areundeY shall inure [o, the respective successors and assigns of Lender and Borrower,
<br />subjtct to the provisions of paragraph 17 hereof. All rnvenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience onlg~ and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notke. Hxcept for any notice required under applicable law to be given in another manner, fa) any notice to
<br />Borrower provided for in this 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 notice to Lender shall be given by Certified mail, return receipt requested. [o Lender's address stated fierein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shalt be deemed to have been given to Borrower or Lender when given in the marrer designated herein.
<br />15. Uniform Mottgagr Governing Iyw; Stverabrlity. This form of mortgage combines uniform covenants for national
<br />use and rmn-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument rnvering
<br />Heal propem~. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of [his Mortgage or the No[e conflicts with applicabk law•, such conflict shalt not affect
<br />othtr previsions of this Mortgage or the Note which tan be given effect without the conflicting provision, and to this
<br />tnd the previsions of the Mortgage and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shat{ be furnished a conformed copy of the Nate and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Tra~fer of the Property: Assumption. If all or any part of the Property or an interest therein is sold ar transferred
<br />by 8orrowtr without Lender's prior written consent, excluding (a1 the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest far housa4old appliances. (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or (dt the grant of any leasehold interest of three }•ears or less
<br />not containing an option m purchase, Lender may, at Lendei s option, declare all the sums secured b}• this Mortgage to be
<br />immediately due and payable. Let[der shall have waivtd 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 satisfacioty to Lender and that the interest papabk an the sums secured by this Mortgage shalt be at such rate as Lendtr
<br />shall rmttesL If Lendtr has waivtd ttte option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has exxuted a written arstrmption agretmrnt accepted in writing by Lender. Lendtr shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accekrate. Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph ]4 hereof. Such notice shall provide a period of oat less than 30 days from tht date the notice is mailed within
<br />which Borrower may pay the sums declared clue- If Botrawer fails to 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 t$ hereof.
<br />Not+-iJMgORM Covt:tvnxrs. Borrower and )tender furtfier covenant and agree as follows:
<br />18 Accekratlos; Remedka Eseept as provided fn paragraph 17 hereof, upon Borrower's bresc6 of any covtnaai or
<br />apeerae~ of Borrower is Wk Mortgage, i~lodia= the eoveaants to pay when due any sums secured by this Mortgagq
<br />Leder prior to accekratioa shag mail notice to Harrower m provided in paragraph 14 htreof specifyirg: (1) the breach;
<br />(~ Cis aetbe rsgdred to care ssc6 breach; (3) a date, ant kas than 30 days from the date the entice k maikd to Borrower,
<br />iy witch sacs bresei asst be c~d• and (4) fiat failure to cure each breach on or before tie date speci&ed in the trotke
<br />rosy rs~lt ~ accde+atitrs of tie asters secnred by tits Mett6at;e, forcelosarc by jndkial proceeding and sale of the Property.
<br />T>K aeAics siaB hsther i~orm Barrmrer of the tight m restate after acceltratioa sad the rigfit to assert bt tie foreclosure
<br />precsedits We aon~esieteece of a defaaat or soy other defense of Borrower to accekratioa and foreclostre. U the breach
<br />i ant cored as oc befars the date apecffied ~ the mtke, Lender N Lender's option rosy declare all of tie sums steered by
<br />tits MnrlBtKe to be immedisttdy due and payable without furtfier demand and may fomlose by judicial proceeding. Leader
<br />siaB Ire eadtled to otslkct is tmei proceeding aH expeffies of foreclosure, including, bvt not Ilmhed to, costs of documentary
<br />evidescq abstracts and title reports.
<br />~4. Barrawa's Rleit b $ehrAate. Notwithstanding Lender's acce}eration of the sums secured by this Mortgage,
<br />Borrower shall have the tight to have any proccedings begun by Lender to ent`orce this iviorigugc discontinued ai ary lime
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