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79- UU3f341
<br />Lender's written agreement or applicable law. Borrower shalt pay [he amount of al! 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 open notice from Lender to Borrower requesting payment thereof, and shalt bear interest from tt:e
<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 taw, in which event such amounts shall bear interest at the highest rate
<br />pemtissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Lender 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 therefor related to Lender's
<br />interest in the Property.
<br />9. Coademaation. The proceeds of one award or claim for damages, direct or consequential, ir, connection with any
<br />condemnation or other taking of the Property, or part thereof, cr far conveyance in lieu of condemnation, are hereby assigned
<br />and shalt be paid io Lender.
<br />Tn the event of a total taking of the Property, the proceeds shall be applied to the Burns 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 9n writing, there steal! be applied zo the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amoum of the sums secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior to 4he 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 otters 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 collet 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 [o in paragraphs I and 2 hereof or change the amount of
<br />such installments.
<br />18. borrower Not Released Hxtcnsion of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage grantrd by Lender io any successor in interest of Borrower shall not operate to release, in any manner,
<br />..y r.:e.r ...., req
<br />thr ! a°bflt' or ~ ' ' il ...,..~, a n B.^r ~ °- ,:c~~:, ~ in :rt2rest. - °- - ,a„ nc .,z ~r2d ~ m-2n
<br />proceedings agairtst 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 successors in interest.
<br />Il. Forbeataace by bender 1Vot 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 o~ or preclude the exercise of any such right or remedy.
<br />Tire procrnement of insurarxx or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />regbt to acceknte the maturity of the indebtedness secured by this Mortgage.
<br />12. Resedies Cumaltlire. Ail remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedq under this Mortgage or afforded by taw or equity, and may be exercised concurrently, independently or successively.
<br />23. Staaeseurs and Aas~us bosnd: Joint and Several i.iabBity; Captions. The covenants and agreements herein
<br />eootairred shall bind, and the tights hereunder shalt inure 40, the respective successors and assigns of Lender and Borrower,
<br />subject eo the provisions of paragraph 17 hereof. All oovenants and agreements of Borrower shall be joint and several.
<br />fix: captions and headings of the pazagraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Natke. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certifted mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Tender as provided herein, anti
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested, to Lender s address stated herein 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 shall be deemed to have been given to Borrower or bender when given in the manner designated herein.
<br />I5. Uniform Mortgage; Governing Law; Severabfiify. 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 rnvering
<br />teal property. This Mortgage shall be governed by the taw of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note coafticts with applicable few, such conflict shall not affect
<br />outer provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />end *_tre provisions of the Mortgage and the Note are declared to be severable.
<br />16, Eorrower'a Cnpy. Borrower she!! be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after rernrdation hereof.
<br />17. Tramitr of the Property; AsmmpUoa. If alt or any part of the Property or an interest therein is sold or transferred
<br />by Honower 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 security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or (d) the grant of any ]casehold interest of three years or Tess
<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 due amt 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 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 />shat! r~ttest. If under ~s waives the option to accelerate provided in this paragraph 17, sad if Borrower's st3rcessor in
<br />ia[ereat Star executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations utsder this Mortgage and the Nate.
<br />If Lender exercises such option to accelerate, Lender shalt mail Borrower notice of acceleration in accordance with
<br />paragraph l4 hereof. Sttch notice shag provide a period of not less than 30 days from the date the notice is marled within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sutras prior to the expiration of such period,
<br />lender tray, without further notice or demand on Borrower, invoke any remedies permitted by paragrapfi 18 hereof.
<br />Nast-Uxrpoaat Covertetrrs. Borrower and Lender further rnvenant and agree as fotlows:
<br />1& Atcderation; Rese~es. Except as provided in paragraph t7 hereof, opus Borrower's 6rpc6 of say covetnnt or
<br />of borrower ht th6 Mortgage, including the covenants to pay when doe any antes secured by this Mort=ti=e,
<br />J,aa6er prior fa acceleation ~ rmdf notice to Borrowea ~ provided in paragraph 14 hereof spceifying: (1) the breach;
<br />(2) tlae uilan to core Bach Meech; (3) s date, ~t leas than 30 days from the date the notice to mailed to Borrower,
<br />by wYieh aneh baeacb seat lR ems, and (4) ~ taBnre W core each breach on or before the date specified lrr the mike
<br />srq resole in accdeaafion d Me woe ttenred by this Mortgage, foreclosure by judicial proceeding sad ask of the Property.
<br />T;Ye satire shti! father Snfarte borrower ~ the right to reirrsfarc wirer scceeration and the right to asst in the foreclosure
<br />!fig ffie taon~e:ipetrce of a dafaalt or arty other dtiease of Borrower to accekradon amt foreclosure. tE the Ixeach
<br />M oat eurafl om ~ beEme the dale specified ie the entice, [.coder st Leader's option may declare aB of the av~ secured by
<br />tTda Mor~ge to fie basediatdy doe raid payahik without further demand and may foteekae 6y jndkbd proceeding. Leader
<br />stab be enWkd b colect la areii ptoceedbq aB e:pesaea ~ foreclosure, ioclur:ng, brat erot limited t0. coos of documentary
<br />erldeoce. aiatracb and this repor#s.
<br />14. barsowee'a Rlgbt m Re4rtoe. tVotwithstandittg Leader's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have any proceedings begun by [.ender to enforce this Mortgage discontinued at any time
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