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<br />79- U1-37$y
<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 ether 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 even[ 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 />R, Incpeetioa. Lender may make or cause to be made reasonable entries upon and inspectians of the Property, provided
<br />[hat Fender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor reiarcd its L-.ender+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 conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />Yn the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage,
<br />with [he 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 s'tens secured by this Mortgage such praportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior [n the date of
<br />taking bears to the fair market vahre 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 Barrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails to respand 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 Mort¢age.
<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 paragraFhs 1 and 2 hereof or change the amount of
<br />such installments.
<br />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 successar in interest of Barrower 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 />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 slrCCeSSOrS 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 law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />'Fite procurement of insurance or the payment of taxes or other fiens 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 Cumalative. All remedies provided in this Mortgage are distinct and curmdative to any other right or
<br />remedy under [his Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Soceessors and Assigas Bou-d; loin[ and Several i,iabitity; Captions. The covenants and agreements herein
<br />rnntained 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 Bocrower shall be joint and several.
<br />'Ihe captions and headings of the paragraphs of this Mortgage are for convenience only and are nest to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable taw to be given in another manner, (al any notice to
<br />Borrower provided for in this Mortgage shall rte given by mailing such notitt by certified mail addressed to Borrower at
<br />the Property Address ar 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 addr<ss stated herein or to
<br />such other address as Lender may designate by notice to Barrower as provided herein. Any natice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />li. Uniform Mortgage; Governing Law; Sevenbility. This farm 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 />real property. 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 this Mortgage or the Note conflicts with applicable lea, such conflict shall not affect
<br />other provisions of this Mortgage or the No[e which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the No[e are declared to be severable.
<br />16. Borrower's Copy. Borrower shalt be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />i1. Traasfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money securit}' 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 grans of am• leasehold interest of three years or less
<br />not rnntaining an option to purchase, Lender may, at Lender's option. declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sak 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 satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shalt request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />inttxes[ has executed a written assumption agteemrnt accepted in writing by Lender, Lrnder shall rekase Borrower from all
<br />obligations wader this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Barrower novice of acceleration in accordance with
<br />t iera.f. ~,. n.--''.;.., s:-.aP --^•^de a ^° ^~ ^r ^^: t{ac than 'i0 days from the date the notice is marled within
<br />Paragraph '4 , r..,., r_r.,...._ _.
<br />which Bocrower may pay tht sums declared due. If Borrower fails to pay such sums prier to the expirstion of such period,
<br />Lender may, without ftuthu notice or demand on Borrower, invoke any remedies permitted by paragraph 1 B hereof.
<br />Nora-Ut+tt~~ Cov€Nexrs. Borrower and Lender further covenant and agrce as follows:
<br />1& Accderatioa: Remedies, Fattpt as Provided io paragraph 17 hereof, upon Borrower's brcac6 of any covenant or
<br />asrtzmeat d 1orrower ~ this Mortgage, iactadirrg the covenants to pay when doe any sutra secnrcd by this Mortgage,
<br />I.®dN Peior to aecalantloa aht9 mag aotiee to Borrower as provided in paragraph t4 hereof specifying: (1) the breach;
<br />(2) tie acf<oa rcgdred to tree sadr breach; (3) a date, not kas [ban 30 days from the date the entice is maikd to Borrower,
<br />by wild web breseh rtes[ he cared; sad {4) that fsiinrc b core such breach oa or before the date specified in the notke
<br />my read[ br aeeelesstioa of tie wens aecared by thla Mortgasa, foreclosure by jadieial proceeding aaa sale d the Properly.
<br />Tie aotke shall fotthm hrftxm Borrows d the right t¢ reinstate after accekration sad the right to assert is the foreclosure
<br />preee~iag the aw-!f d a default ar say other defeffie of Borrower to accekretbn and foteclosnre. If the breach
<br />): not cared oa a bdore the date specrfld io the aotice, Leader at Lender's option moy declare a0 of the same secured by
<br />this Mortgage to be immediatdy dae and payabk without further demand sad may f¢reclose by jadkial proceeding. Lender
<br />abaH be editkd to coBeet On each proc:.:~ aB expenses d forccksarc, iuclndiag, bat sot linked to, coats of documrntary
<br />evidratce, abWacb sad tkle ropuAs.
<br />19. Dorrowe:'s Right b Reias4te. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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