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79- a t~ ~ ~) 46
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurancz premiums in fhe
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, snail 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 upon notice from Lender to Burrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principat under the Noie unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shad bear interest at the highest rate
<br />perrniastble under applicable law. Nothing contained in this paragraph 7 shall requite Lender to incur any expense or take
<br />any action hereunder.
<br />8. Itrepection. Lender may make or cause to be made reasonable entries t[pon 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 />interes. in the Property.
<br />4. Condemnation. The proceeds of any award or claim for damages, direct or ennsequential, 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 />slid shad 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 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 Borrower that ehe 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 culler[ and apply the procceds. at Lender's option, either to restoration or repair of tbe
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such app}ication of proceeds to principal shall not extend
<br />or postpone the due date of [he monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />18. Botrmver Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by '.his MortgaE~ 6; meted by Le,^der t., s.^.y s ~.. ,., ,.,.z..,~t ~ B.^rru~..: °hall o~ratz to rc;zasz. in any ma.,. ..
<br />the liability of the original Borrower and Borrower's successors in interest. LenderVshall 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 />li. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any righr or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver or. 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 toaturity of the indebtedness secured by this Mortgage.
<br />- - X12: Itetsedks C®tatative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by taw or equip, and may be exercised concurrently, independently or successively.
<br />13. 3nccessors sad Assi~s Bound; Joint end Several Liabt'6ty; Captions The covenants and agrcemrnts herein
<br />contacted shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />sub3cet to the provisions of paragraph 17 hereof. AI! covenants and agreements of Borrower shall be joint and several.
<br />Tire captions and headings of the paragraphs of [his Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />i0. Notke. Except fur 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 certified 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 notice to Lender shat] be given by certified mail, return receipt requested. to Lenders address stated heroin 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 Lender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; SeverabBity. This form of mortgage combines uniform covenants for national
<br />use and sat-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument rnvering
<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 eunflict shall not affect
<br />ocher provisions of this 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 famished a conformed copy of the Note and of this Mortgage at tit^_ time
<br />of execution or after recordation hereof.
<br />17. TraelEec of the Property; Asstrmptiou. If all 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, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />dtscutt or by oprraticn of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br />rrot containing an option to purchase, Linder may, at Lender's option, declare all the strms secured by this Mortgage to be
<br />immediauly due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the persart to whom the Property is to 1x 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 />shag regtust. If Cooler has waived t}te option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />inttrest has execrh~ a written affiumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lehr exercises such option to accelerate, Lender shalt mail Borrower notice of aaxleratiur.:n sccordance 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 declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br />Lender Wray, without further notice or detnaad on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />NoN-UN[troxt~t CmaENeyTS. Borrower and Lender further ; ovenant and agree as follows:
<br />18. AcceleraNos; Remedies. Facept r provided is paragraph 17 hereof, upon Borrower's breach of :ay covenant or
<br />aptcsmeet tit Borrower in this Mor1~e, ~eltsding the roveaants to pay when doe any same stcrtred by this Mor~age,
<br />Leadtx pdar b aaxkratlsa ~ maB ttotice to Borrower ai provided in paragraph I4 bereo[ specifying: (I) the breach;
<br />(~ the scNas to coca wch brroch; (3) a dtlt, tai Ices than 30 days from tlx due the notice is mailed to Borrowu,
<br />by wbklr sss6 breach aamt be cured; attd (A) >bat taBurc to care such breach on or bdote the date specified la the notice
<br />mRy rgdt ~ secdentias of the ttta~ secatxd by this Mode, [nreebsurc by jttdicid proceeding and sale of the Properly.
<br />lire aodee snap tasfher hdorm Baarower of the rlgltf to triowus after acceleration sad the night to assert in the forecbssre
<br />prod ~ aos.e~aCe ~ a deEsodt or a~ ocher defense of Borrower to accekration sad forcclasure. >f the breech
<br />h sat cared ae of 6etore fhe date specifmd le ~ notice, Leader at Lender's option may declare aH of the sums secured by
<br />lids Mottpge to be hamed4tdy d~ sad p>,yabk without farther demand and tnay foreclose by ludiclel proceeding. Lender
<br />slug be tetided fo mBect ha seen prgcceediag aB expellees of forecbwrc, i~ItrtNng, but trot limited to, costa of documentary
<br />evWeace, alrslracb sad thh xparls.
<br />19. Bmrowv'e ~ to litehrdate, Natwitstanding Leader'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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