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Leadeis written agreement or 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 pursuant to this paragraph 7, with interest thereon, shalt become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />OQ 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 Yime on outstanding principal under the Nnte unless payment of
<br />.~ interest at such rate would be contrary to applicable taw, in which event such amounts shah bear interest at the highest rate
<br />.ea permissibk under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any ezpenx or take
<br />~ any action hereunder.
<br />~ g. impecfion. Lender may make or cause to be made reamnable entries upon and inspections of the Property. provided
<br />that Lander shalt give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender s
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award ar claim for damages, direct or consequential, in connection vrith any
<br />fft condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />R and shall be paid to Ixnder.
<br />In the event of a total taking of the Property, the proceeds shall be applied io the sums secured by this Mortgage.
<br />with the excess. if any. paid to Borrower. In [he event of a partiat taking of the propetty, unless Borrower and Lender
<br />otherwix 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 the condemnor offers to make
<br />an award or xttle 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 sxured 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 />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall no[ operate to release, in any manner,
<br />the liablity of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successor or refux 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 Borrower's successors in interest.
<br />11. Rorbearantt 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 cf or preclude the exercise of any such right ar remedy.
<br />The procurement of insurance or the payment of razes or other liens ar 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. Rem Cusralatbt. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Sacceasors sad Aa3gas Bound; Joint and Several i.iaMlity; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shalt 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 />The captions and headings of the pazagraphs of this Mortgage are for convenience only and are not to be uxd to
<br />interpret ar define the provisions hereof.
<br />i4. Notice. Except for any notice required under applicable taw to be given in another manner, (a) any notice to
<br />Borrower provided far 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 etotice 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 decnrsd to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. i3aNorm Mortgage; Gorernirtg Law; SeverabBity. This form of mortgage combines uniform covenants for national
<br />ttx and nonuniform 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 conflict shalt not affect
<br />other provisi~s of tF.is Mortgage or the Note which can be given effect without the canfticNng provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />lti. Borrower's Copy. Borrower shalt be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Tnmfer of the Property; Assn®ptioo. 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 purehax money security interest for houxhold appliances, (c) a tratufer 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 less
<br />not eorttaining an option [o purchase, Lender may, ai Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate it, prior to the sale or transfer, Lender
<br />and tlx person to whom the Property is to tx sold or transferred reach agreement in writing than the credit of such person
<br />is satisfactory to Leader 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 successor in
<br />interest has executed a written asrrmption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligation under this Mortgage and the Note.
<br />II Len~r exercises such option to acakrate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shat! provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the srtms declared due. If Borrower faits to pay such suers prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any retnedits permitted by paragraph t8 hereof.
<br />Nort-Uxrnaant Covertetvts. Borrower and Lender further covenant and ague as follows:
<br />1l1. Atedenitla~ Rearedtea iEscept >. prow)ded is paragapb l7 hereof, upon Borrower's 6reac6 of any covenant or
<br />sBreeateat o[ Borrower io ttda Mme. hrdadi~ the mrenanta to pay when doe any soma scented by this 141ortgage,
<br />L~d~ prior ~ aetet[ratMa ~B mat aotlce to Borrower as provided in paragraph 14 hereof aptxJyi~: fl) toe btxath;
<br />12) the actiea regaYad to crag each Irrerch; t3) a date, not lens than 30 days from the date the aoUtt b mailed to Borrower,
<br />by whkh each breach mast be cored; and i4) thu faBnrc to tore sack breach oa or be[ore the date apal8ed is the notke
<br />arty neraB >s atcdeaafloa of the rams secured by fhb Mor~age, foreetosrtre by }udidaf proceeding and sak of the Property.
<br />Tkte aotlee sW htitrrsa Eorrower of the to eeimeNe suer acceler~ion and the right to smert la the foreclosure
<br />,protaedbK me ~ of a de[wdt or asy other de#ense of Borrower M accderatlon oral foreclosure. If the breach
<br />b sot wtad ten or prime the dKe sprxiSed fis the aotlee, Lender at lender's option may dethre aB of the suaas secured by
<br />fhb Mote fo fie Y doe and paysbht wUhout further drm~d and may forecbx by }udkial proceeding. Lender
<br />sbB.bt aa~Icd M ooBaet In loch proceedbrt< ag expenses of [oreclosare, indudhrg, but not Beeped to, coats of dacamentary
<br />avidamCe. abstrae4r and tiflt nepartr.
<br />19. Borrowers Ritfit to RrihaNate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have arty proceedings begun by Lender to enforce this Mortgage discontinued at any time
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