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<br />79-• U~~~3~85
<br />Lender's written agtsement or applicable law. Borcower 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 ~. 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 shalt 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 event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shad require Lender to incur any experts` or take
<br />any action hereunder.
<br />g. 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. Coodemnatbn. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />candemnatian ar 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 />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 Leader
<br />otherwise agree in writing, there shat! 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 by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prwr to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />if the Property is abandorted by Borrower, or if, after notice by Lender to Horcower 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 apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property or w the sums secured 6y this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpotre the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or mo~ftcation of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to 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 Borrowers successors in interest.
<br />11. Forbearance by Lendee 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 />'The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender s
<br />tight to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies C~ralatlae. Ali remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by taw or equity, and may be exercised concurrently, independently or successively.
<br />13. Snceescors a~ Assigns Bonml; Iojnt and Several Liability; Captlom. The covenants and agreetnen[s herein
<br />contaitted shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subjeM to the provisions of paragraph t7 hereof. All covenants and agreements of Barcawer shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not is be used to
<br />interpret or define the provisions hereof.
<br />t4. Notice. Except for any notice required under applicable law to be given in another tnanner, (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 Lender as provided herein, and
<br />(b) any nofice to Lender shall fie given by certified mail, return receipt regtrested. tc Lender's address stated herein or to
<br />sudt other address as Lender may designate by notice to Borrower as provided herein Any notice provided for in this
<br />Mortgage shall be deemed io have bcen given to Borrower or Lender when given in the manner designated herein.
<br />13. Urdform Mortgage; Governing Law; Severabimty. 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 covering
<br />teal propery_ This Mortgage shall fie governed by the law of the jurisdiction in which the Property is located. In the
<br />evert that any pror-ision or clause of this Mortgage or the IQate conflicts with applicable law, such conftset shall not affect
<br />other provisions of this Mortgage or the Nate which can be given effect without the conflicting provision, and to this
<br />end the pravisians of the Mortgage and the Note are declazed to be severable.
<br />16, morrower's Copp. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the tirrtt
<br />of execution or after recordation hereof.
<br />1T. Trander of tie Property; Acsampdon. If ail 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, (h) the creation of a purchase money exactly 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 leasehold interest of three years or kss
<br />cwt containing an optiam to purchase, Lender may, at Lender s option, declare all the sums secured by this Mortgage to be
<br />itmediately due sad payable. Lender shall have waived such option to accelerate if, prior to [he sale or transfer, Lender
<br />and the person to whom the Property is to be sold or trans#erced reach agreement in writing that the credit of such person
<br />is sstisfactoty to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shag request. If Leader 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 shalt release Borrower from all
<br />abiigataos under this Mortgage and the Note_
<br />If Lemkr exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is marled within
<br />which Borrower may pay the sums dxtared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br />Leader may, without further notice or demand on Borrower, invoke soy remedies permitted by paragraph 18 hereof.
<br />Not+-Ur»t=ostar Covata,ttrrs. Borrower and Lender further covenant and agree as follows:
<br />lg. Accdvatioa; Reweaies. $cept ae prodded Gn paragraph IT hereof, upon Borrower's breach of soy coveeant or
<br />agrae~nt of Horrorret 6s t~ Mortgage, laelodiag the covenants to pay when due say arms secured by tifa Mortgage,
<br />Leaaar prior to acoAwatio~ sham ®am ootke to morrower as provWed in paragraph 14 hveof spttifying: (1) the bread:
<br />(~ the aemm ragirea to cues weL breach; {3) a date, not feat, tirsn 30 days from tbe date the ootke B mailed to Borrower,
<br />iy wild aaei hreue6 `east De cared; sad (4) that lure to erne secb brese3 on ar before the date speeiPed sa the notke
<br />way tswlf ~ acealmatlaa of tie sums secarra by this Mortgage, forccloane bl jadkLd proceeding and sak of the Property.
<br />'l`ie aatlce alum ivtlitr ieafirrm Eoerower of tie right a rsiscfut after accderatbu avd tic r~6t to s~ert 18 tic fareelosme
<br />praeaa~ tie nooa~aee ed a defardt or any otter defence of morrower to accelcratirrn and foreclaswe. It the beeac6
<br />b not cwoi os or before the ante apecmied 1. tie not{cr:. Leader at Lender's taptfon any declare ail of tie rams secured by
<br />t6la MsaYgage to fie idly sue sad payable witioat further demand and may foreclose hY 3ndicia! proceeding. Lender
<br />Aram ie b comect iA soot` procesatug ~ e:peaces M forecbanrc, insla~ag, bat rat llmked to, costs of docamentuy
<br />~iaemce, abstraeb and 1Me ttpor~.
<br />t~. Horeowde Rig6f t+a Ref~be. Notwithstanding Lenders acceleration of the sums sxured by this Mortgage,
<br />Borrower afiall have flee rlght to have any proceedings negttn by Lender to enforce this Mortgage discontinued at any time
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