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<br />79- ut140U3
<br />Lender's written agreement ar 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 pursuan4 to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured 6y this Mortgage. Unless Borrower and Lender agree to other 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 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 shat: require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspecfbn. Lender may make o: cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to sny such inspection specifying reasonable cause therefor related to Lender's
<br />.:Merest in the Property.
<br />9. Condemnation. 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 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 Borcower. 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 sum, 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 />1f the Property is abandoned by Borrower, ar if, after notice 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 3D dsys after the date such notice is
<br />mailed, Lender is authorized to collect and apply the procceds, 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 Borrewer otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments refereed 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 ar modification 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 Bottower and Borrowei s successors in interest. Lender shall not be required to commertce
<br />proceed'mgs against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />securai by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest
<br />11. Forbeataatce by Lender 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 c,f or preclude the exercise of any such right ar remedy.
<br />The procurement of insurance ar the payment of taxes or other liens or charges by Lender shall not be a waiver of Lenders
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />2Z, Remedies ~®alaHre. Ali 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 be exercised concursently, independently or successively.
<br />13. Sacce~ors and Assigns Bound; Joint and Several f.iabfHty; Captions The revenants and agreements herein
<br />contained shall bind, 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. All covenants and agreements of Borrower shall be joint and several.
<br />'IIu captions and headings of the paragraphs of this Mortgage aze for convenience enty and are not to be used to
<br />interpmt or define the provisions hereof.
<br />i4. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />$orrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Addtess or at such other address as Borrower may designate by nonce to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested, to Lendei s address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any nofice 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. Ua#erm Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a unifom[ security instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is 'orated. In the
<br />event that any provision or ciattse of this Mortgage or the Note conflicts with applicable taw, such conflict 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 pravisiotts of the E4ottgage 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 execution or after recordation hereof.
<br />17. Tender of the Property; Asaamption. If elf or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written cortsent, excluding (a) the creation of a lien or rncumbrance subordinate to
<br />this Mortgage, (b) the creatior. of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />tlesceat or by operation of law upon the death of s joint tenant or (d) the grant of any Icaxhold interest of throe years or less
<br />not containing an option to purchase, Isntkr may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />imtttediately due attd 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 ar 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 shaft be at such rate as Lender
<br />shall req[tesi Tf Lender bas waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agrcemrnt accepted in writing by lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender ezescises s[xh option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />psragrsplt 14 hereof. Such notice-shag provide a period of not leu than 30 days from the date tfie notice is ma[7ed 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 />L,rnder tray, without further Hotter or demand on Harrower, invoke any remedies permitted by paragraph 18 hereof.
<br />N[xv-Urr[t~oftne CovetvervTS. Borrower and Lender further covenant and agree as follows:
<br />1S. And Rem. Except as presided iu pangraplt t7 hereof, upon BorvoweTa breach of say covenant or
<br />agretne~t sf Btmresrer ~ t>sis image, isq !1'~ corxnaufs to pay whra da say sows teeared by tbB MorlgsBe,
<br />Larder psior b accderratlsa ~ mail notice ~ Harrower a provided In patagrap6 14 tiered specifying: (1) the breach;
<br />{~ (~ aethra ttaSaUed is cure pe6 laeacltt (3) a date, not leas than 30 days from the date the Holler is maned to Harrower,
<br />1h' niitdr atei iaaael test M rysed; and (4) that taBme to enre such 6reae6 on or before the date specified fin the Holler
<br />tarp ntaBia httslaatleat d the [ems strolled by thk Mortgage, forrciosnrc 6y jadictsl proceeding and oak of the Praprtty.
<br />17re aotlce aMlf taller Ides Betrrawer of the rlghf to reinstate after amkvafioa and the right to nett la the foreclwnre
<br />praees~t~ Bre sore-na~aece d a dafa~t ~ soy other defence of Borrower m acceleration attd [orecfosnre. H the breach
<br />Ih scat card ore er 6efese fht date specBed i fbe notice, Ixodet at Lender's option may dcelare all of dre soma secured by
<br />tldr b be kstdy dde aai paysbk withent [nslbet demand and racy fomlax by h~cia P Lender
<br />duiB be etttlged to collect l~ stela peeteeding all t:penses o[ forecbsnre, brcladhtg, but not Wilted to. cons of documentary
<br />evlthraoe. ebAracb rd HNe seFaatr.
<br />1!. Baarerea's Rlgit to Relaatate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shag have the eight to have any proceedings begun by Lender to enforce this Mortgage discontinued a[ any time
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