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<br />79~. UU3H86
<br />Lender's written agreement or applicable law. Borrower shat! pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Aay amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Harrower secured by this Mortgage. Unless Borrower and Linder agree to other terms of payment, such
<br />amounu shall be payable upon notice from Linder to Borrower requesting paymenr 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 zhis paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspectloa. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender sha[I give Borrower notice prior to any such inspection specifying reasonable cause therefor related to tender's
<br />interest in the Property.
<br />9. Coudemnation. 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 />In the event of a fatal 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 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 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 Borzower 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 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 to in paragraphs t and 2 hereof or change the amount of
<br />such installments.
<br />1®. Borrower Not Released. Extension of the tiros for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shaii not operate io release, in any manner.
<br />the liability of the original Borrower and Barzower's successors in interest. Lender shalt 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 origiral Borrower and Borrowers successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise affords 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 />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Rearedks Ctrmabdive. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law ar equity. and may lx exercised concurrently. independently or successively.
<br />13. Sacrsors sad Assigns Bound; Joint and Several Irabitiry; Captlons. The covenants and agreements herein
<br />contained shaii hind, 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. Alt covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the pazagraphs of this Mortgage are for convenience only and arc not to be used to
<br />irtttrpret or defitte the provisions hereof.
<br />14. Notice. Except far any Halite 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 certified mail addressed to Borrower at
<br />the Praperry Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) sny 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 dsemed to have lien given to Borrower or tender when given in the manner designated herein.
<br />15. 1lniform Mortgage; Governing Law; SeverabBity. This form of mortgage combines unifrtrm covenants for national
<br />use an3 non-uniform rnvenants wish limited variations by jurisdiction to constitute a uniform security instrument coveting
<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 law, such conflict shalt not atfect
<br />othez provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />card the provisions of the Mortgage and the Nate are declared to be severable.
<br />i6. Berrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution ar after recordation hereof.
<br />17. Trao~er of the Property; Aasrrmption. If alt 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 encumbrahce subordinate to
<br />this Mortgage, (h) 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 Leasehold interest of throe years or less
<br />Hat containing an option to purchase, Leader may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Linder 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 teach agtment in writing that the credit of such person
<br />is satisfactory to Lendtr and that rite fate.-est payable on the sums secured by this Mortgage shalt bt 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 />interest bas 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 Lander exercises such option to accelerate, Lender shat! mail Borrower notice of acceleration in accordance with
<br />paragraph f4 hertctf. Such ttatice shall provide a period of not Irss than 30 days from the date the notice is mat7ed within
<br />which Borrower may pay the sums declared due. If Borrower fails ro pay such sums prior to the expiration of such period,
<br />Lendtr may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Nort-UxiFOawt CoveN~tvrs. Borrower attd Lender further covenant and agree as follows:
<br />1B. Acceleratloo; Rer~a. Except as provided in paraRrrgr6 t7 6treof, upon Borrower's breach of auy toveoant or
<br />a M Borrower ~ t61s Mortgrge, Fncludirg the covenants to pay when doe any sums secured by this Mortgage,
<br />Ieiader prior to aceeieaatl4 s6aB mat splice to Borrower as provided in paragraph 14 hereof speeityi~: (1) the breach;
<br />(~ the acfion t~akad bo esae sack breach; (3) a dat0. cot kas than 30 days from the date the aotke is maBed to Borrower,
<br />~ wblelt wdr Tfrsaeh maA ie enrsd; and (4) that Bare ~ tare sorb breath on or be-orc the doh specified to the notitt
<br />eyq tt~ak !s of fore ~tffi secm•+cd by this Mortgage, forecloeare by judklal proceedMg and sate of the Property.
<br />'!be atetke ~aB fiather ir~a:s Berrorrer ~ the rittht to eefastatt after accehratlon and the right to assert in the foreclosare
<br />psecec~ ~ peace ~ a defasit or aziy prior defsnse of Borrower to xeekratloa aed forecfowre. Tf the breach
<br />'is ta# cored oa pm before ~ date specked in the notice, Lerner at Leod:r's optan may declare dl of the saw secured by
<br />ehis Mertpse to 6e dy ~ aed pslabk without ferfher demarM sad mtly foreclose by judicial proceeding. Lender
<br />ah~B be eaNkkd ~ ca8ecl is suelt proceediati aB expeusea of foreclosure, ineladbrg, bnt not liroked t0. torts of documentary
<br />evldmct, a6stracta sad 1i11e repaM.
<br />1! B~euwer's Ridtrt tp R~rs. NotwilLatanding 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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