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79- Ut,-~966
<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 7 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 an3 Lender agree to outer 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 dvsbursement 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 />peemissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. isspeetlon. 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. Condemnaton. 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 Lander.
<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 sums secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Properq• immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />Lf the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower faits to respond to Lender within 30 da-_•s 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 othetw•ise 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 1 and 2 hereof or change the amount of
<br />such installments.
<br />I0. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />hp rhis Mortgage granted by Lender to any successor in interest of Borrower shat( not operate to release, in anp 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 />1t. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shalt not be e waiver of or preclude [he exercise of any such right or remedy.
<br />The ptxuremenE 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 taaturity of the indebtedness secured by this Mortgage.
<br />12. ReaeeeGes Ctrmelstive. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded try law or equity. and may be exercised concurrently, independently or successively.
<br />l3. Sacctssors and Assigns Bound; joint and Several L.iabilityp Captions. The covenants and agreements herein
<br />contained shall hind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borcower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall tx joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret ar define the provisions fiereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, rat any notice to
<br />Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Borrower at
<br />the Fropetty Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall 6e given by certified mail, return receipt requested, to Lenders address stated herein or to
<br />such other address as Leader 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 Lender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Yaw; SevenbeTity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform co~•cnants with limited variations by jurisdiction to constitute a uniform security- instrument covering
<br />coat property. Thi<_ 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 [his Mortgage or the Nete conflicts with applicable law, such conflict shall not affect
<br />other provisions of [his 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 Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of etcecution or after recordation hereof.
<br />19. Teass#er of the Property; Assamption. If all or any part of the Property or an interest therein is sold or transferred
<br />6y Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money sewrit}' interest for household appliances, (d a transfer by devise,
<br />descent or by operation of law upon the death of a join: tenant or fdt the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at Lender's option, declare ail the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option in 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 Lander and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request, if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's suceesor in
<br />ia[erest 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 Lender exercises such option to accelerate, Lender shall mail Borrower notice of acce{oration 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 mailed within
<br />which Borrower may pay the sums declared due. If Borcower fails to pay such sums prior to the expiration of such period.
<br />Linder tray, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 7 g hereof.
<br />Mort-LINIFO1lM Crnera%xTS. Borrower and Lender further covenant and aeree as follows:
<br />-18. AcederaBoe;~Remedies- Fsttpi ~ provided'm paragrapA t7 hereof, upon Borrower's breach of any covenant or
<br />agrt,~est of &rrras-ef ~ ~.Morigs~e, :artading the roveaaats to pay wtsen doe any Barns secured by this Mortgage,
<br />Leader prier to aceekraNon tdmB mad entice to Borrower as provided in paragraph l4 hereof specifying: (l) the breach:
<br />(Z) Hie ardan atq to rote each beEarb: (3) a dtttc: not less than 31i days Erom the date the reprice is mailed to Borrower,
<br />by wiic6 axb breads coast be rnred; sad (4) that Eailterc to cure sorb breach on or before the date specified in the entire
<br />~ risaB 6t scedaradps of the sums secured by th6s Mortgage, fortck~etre by judicial proceeding and sale Of the Penperty.
<br />Tl~ aotke > lasN~er YeNesm Bverrawer of the right to rcieestatc after areeieration and the right to assert in the foreclosure
<br />ptucee$fag the onpta6teaee ~ a defatdt at arty other defame of Borrower to mcceleration and forecl~vrc. if the breach
<br />iS~net rated-on of bdnte Nte date sptxv6ed b the notice, Leetder a! Lender's option may declare all of the seem secured by
<br />~a MortpgeTQ behntatedi~cly doe and payable wifhotrt farther demand sad taay foreclose by judicial proceeding. Lender
<br />sbvf be t to collect iu such proreedlrg tdl ettpesses of forcclosare. iaclttdhtg, bat-not limited to, costs of documentary
<br />evidrstee, a6thncls and title repwtls..
<br />19, Borrowers R)ght to Reherdate. Notwithstanding Lrnder's acceleration of the sums secured by this Mortgage,
<br />Borrower shalt have theright to have any proceedings begun by tender to enforce this Mortgage discontinued at any time
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