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<br />79-u~13790
<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 [hereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other tetras of payment, such
<br />amounts shall be payable upon notice from Lender [o Borrower requesting payment [hereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on atitstanding 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 cantained in this paragraph 7 shall require Lender [o incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Leader 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 inspection specifying reasonable cause YF.erefor related to 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 />candemnation or other taking of the Property, or part thereof, ar far conveyance in lieu of candemnation, 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 shall 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 sans secured by this Mortgage immediately prior to the date of
<br />taking bears to [he fair market value 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 natice 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 aaply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured by this Martgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone [he due date of the monGtly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />8.......wsr Not Rcl°~. Extersien 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 hat operate to release, in any manner,
<br />the liability of the original Bartower 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 madify amartization of the sums
<br />secured by [his Martgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any rig'tt or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of anv such right or reined}'.
<br />The procurement of insurance or the payment of taxes or other liens or charges b}' Lender shalt not be a waiver of Lender's
<br />right [o accelerate the maturity of [he indebtedness secured by this Mortgage.
<br />12. Remedies Camnlative. 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 concurrentl}•. independently or successively.
<br />13. Sacce~ots and Assigns Bound; Ioiot and Several I.iabHity; Captions. ThE covenants and agreements herein
<br />contained shall bind, and the rights her under shall inure to, the respective successors and assigns of Lender and Borrower.
<br />subjeM to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be join[ and several.
<br />The captions and headings of the paragraphs of this Martgage are for convenience only and are hat to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. FJxcept for any notice required under applicable law to be given in another manner, tat 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 Properly Address or at such other address as Burrower 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 otber address as Lender may designate by notice to Borrower as provided herein. Any notice provided far in this
<br />Martgage shall be deemed to have been given to Borrower ar Lender when given in the manner desi¢na[ed herein.
<br />I5. Iioiform Mortgage; tiove[airrg Law: SecerabAity. This form of mortgage combines uniform cavensnts 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 Nate conflicts with applicable law, such canflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to this
<br />end the provisions of the Mortgage and the Nate are declared to be severable.
<br />Ili, librrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after mordation hereof.
<br />11. Transfer of the Property: Assumption. if at! or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lendei s prior written consent, excluding (al the creation of a lien ar encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest far household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the death of a joint tenant or fd) the grant of any leasehold interest of three years or less
<br />not containing an ontien to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shalt have waived such option to accelerate if. prior to the sale or transfer, Ixnder
<br />and tlx person to whom rho Properly is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfaaory• to Lender and that the interest payable on the sums secured by [his Mortgage shall be at such rate as Lender
<br />shelf request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Leader exercises such ap[ion to accelerate, Lender shall mail Harrower notice of acceleration in accordance with
<br />•~ !d !+r•at'nf. S?ich n!Nice shat) arovide a period of net 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 pcriuu,
<br />Leader may, without further nonce or demand on Borrower, invoke any remedies permitted by paragraph I S hereof.
<br />NON-UNIFORM COVENANTS. Borr0w'e7 and Lender further covenant and agree as follows:
<br />1& Aeceteratiou: Remedies. Except as provided is Paragraph 17 hereof, upon Borrower's breach of any coveaaot or
<br />agreement of Borrower fa this Mortgage, ineladiag the covenants to pay when due any sums second by Ihis Mortgage,
<br />1[~eder prior to aeceleralfos ahaB maA notice to Borrower as provided in paragraph 14 hereof specifying: (1) the bteacb;
<br />(2) the action required to cnre wch breach: (3) a date, not kss than 30 days from the date the notice ~ mailed to Borrower,
<br />h9 which each breach mast be Bared; and (4) that faBnrc to care such breach on or before the date specified in the notice
<br />may remk 10 aesduatioa of the wraas aecarcd by thla Mortgage. foreclosure by judicial proceeding and sak of the Property.
<br />Tht uolks shd) farther i~arm Borrower of the r~ht to reinstate after acceieratbn and fire right to assert in the foreclosure
<br />. proaed~g the eon-e:tefence of a defadt or nay other defense of Borrower to arcelerattoa and torecioearc. If the breach
<br />is not erred on or before the date specified is the notice, Lemler at Lender's option may declare all of the earns secured by
<br />grit Mottgase to be immedhtely doe and payable without further demand and may foreebse by judicial proceeding. Lender
<br />ehfB be entiHed b eoBeM in snch proceedieg at2 sitpemes of forectosnre, including, but not BmNed to, coats of docnmeotary
<br />e-idea¢4 ahatracts and tide reports.
<br />19. lgoreower's R~ht to Relmstale. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have soy proceedings begun by Lender to enforce this Mortgage discominued at any time
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