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Lender's written agreement or applicable law. Borrower shall pay the amount of ail mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from tender to Borrower reyucsting payment thereof, and shall bear interest from the jh. date of disbursement a[ the rate payable from time to time on outstanding principal under the Note unless payment of ~ interest at such rate would lie contrary to applicable law, in which event such amounts shalt bear interest at the highest rate ~ permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take ..~ any action hereunder. ` 8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided ~ that Lender steal! give Borrov:rr notice prior to any Bach inspection specifying reasonable tense therefor related to Lender's ~ interest in the Property. ' 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with an}' 1 condemnation or other taking of the Property, or part [hereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. ~ In the event of a total faking oC the Property. the proceeds shall ter applied to the sums secured by this Mortgage. with the excess, if any, paid to Borrower. in the event of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bears ro the fair market value of the Prapert}~ immediatey prior to the date of taking. with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers [o make an award or settle a claim for damages. Borrower fails in respond to Lender within ;0 does after the date such notice is mailed. Lender is authorized ro collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or m the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing. env such application of prtueeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and ?hereof or change the amount of such installments. 10. Borrower Nof Released. Extension of the time for payment or modificarion of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner, the liability of the original Borrougr and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of arn• demand made M' the original Borrower and Borrower's successors in interest. It. Forbearance by Lender Not a Waiter. .4 m' forbearance by Lender in exercising am~ right nr remed}• hereunder, or otherwise afforded by applicable law, shall not be .a waiter of or preclude the exercise of an}• such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. 12. Rertt`dres Cumulative. All remedies provided in this Mortgage are distinct and cumulative Lo any other right or remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively. 13. Successors and Assigns Bound; loins and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shad inure to. the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mortgage arc for convenience onh~ and are not to be used to interpret or define She provisions hereof. 14. Notice. Except for any notice required under applicable lain to be given in another manner (al any notice to Borrower provided for in this Mortgage shall tie given h}' mailing such notice h}' certified mail addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice [o Lender as provided herein, and (b) any notice to Lender shall be given by certified mail. return receipt requested. to Lender's address slated herein or to such other address as Lender may designate be notice to Borrou~ar as provided herein. Am• notice provided For in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. IInUorm Mortgage; Gocerniog Law; Severabr7ih~. This (orm of mortgage rnmbines uniform rnvenants for national use and non-uniform covenants with limited variations by jursdiction to corstiane a uniform security instrument covering real property. This blortgage shalt be governed by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Mortgage or the Note rnndicts with applicable law. such conflict shall nn[ affect other provisions of this Mortgage or the Note which can br given effect without the conflicting provision, and to Lhis end the provisions of the Mortgage and the Note are declared to he severable. 16. Borrower's Copy. Borrower shall fse furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Transfer of the Property; Assumption. If all or any part nt the Prnpe-'• or an interest therein is sold or transferred by Borrower without Lenders prior written consent. excluding ta? the creation of a lien or encumbrance subordinate to this Mortgage (b) the creation. of a purchase money securin~ interest for household appliances, fc) a transfer by devise. descent or by operation of law upon the death of a joint teuam or tilt the grant of am leasehold interest of three years or less not containing an option to purchase, Lender may, at Ler:der'c option, declare all the sums secured bt' this Mortgage to be immediately due and payable. Lender shell have waived such option te. accelerate if. prior to the sale or transfer. Lender and the person to whom the Property ii to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payabie on the sums secured by this '`tortgage ;hall be at such rate as Lender shall regtresi. if Lender has waived the option to accelerate provided in this paragraph ll, and if Borrower's successor in interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate. t.en:Ier shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than ?Q days from the date the notice is mailed within which Borrower may pa}' the sums declared due. if Borrower toile to pap such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower.:evoke am remedies permitted by paragraph iF hereof. Nov-Utviroaht Covenev-rs. Borrower and I_endrr further cosenant and agree as fotlows~ 1& Aceekrffiion; Rearedies. Fzttpt as provided to paragraph 17 hereof, upon Borrower's breach of gay covenant or ~r[ettemnt of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage, Lender prior to acttkratior shag maB notice to Borrower ac provided in paragnph 14 hereof specifying: (1) the breach; {Z) the ration requhed to cure such brexh; (3) a date, not IesF than 30 days from the date the notice is mailed to Borrower, by which such breach most 6e cured; and (4) that faihrre to curt such breach on or before the date specified in the ra8ce may resap is aceeteratioa of the sorters secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property. The nogce s6~ farther Inform Borrower of the right to reim~tate after acceleration argil the right to assert in the forecbsure paoceed'mg the uou-existence of a dehait or any otfier ikfertse of Borrower to acceleration acrd foreclosure. If the breach ' is not cared on or before flee date specified is the ratitt, Larder at Lender`s option may declare all of the sums secured by t66 Mortgage to be immediately due and payable witboot furtfier 9emand and may foreclose by judicial proceeding. Lender shill be edHitd to collect in such proceeding sU exeerrses of forcclosurc, itreludiag, but not limbed to, costs of documentary evidmcs, abstracts and tale reports. 19. Borrower's Right to Reiestata Notwithstanding Lender's acceleration of the sums secured by this Mortgage, Borrower shall have Lhe right to have any proceedings begun by Lender to erfcrce this Mortgage discontinued at any time