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<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 2 hereof.
<br />Any amounts d'asbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />emounu 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 [o applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable taw. Nothing contained in this paragraph 7 shah require Lender to incur any expense or take
<br />any action hereunder.
<br />8. inspecffono 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. 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 />Tn the event of a total taking of the Property. the Qroceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid to Borrower. Tn the event of a }artial 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 sump 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 [he 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 fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply fhe 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 pos*--pone the due date of the monthly installments refereed to in paragraphs 1 and 2 hereof or change the amount of
<br />such instaltments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Maztga¢e granted by Lender to any successor in interest of Borrower shall not operate to release, in any 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 Qayment or otherwise modify amortization of the sums
<br />secured by Yhis Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />Il. Forbearance by Lemler Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder. ar
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The Qrocurement 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. Remedies Cmnalatlve. 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. Saccessors and Assigns Bonnd; Soint and Several LiaMTity; 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. AlI covenams and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of [his Mortgage are fnr convenience only artd are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, (s) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Sorcower 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 shall be given by certified math 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 ro8ce provided far in this
<br />Mortgage shalt be deen+ed to have been given to Borrower or Lender when given in the manner designated herein.
<br />I5. Uniform Mortgage; t;overemg Law; SeverabBity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrurnent covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />evrnt that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affeM
<br />other 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. ISorrorrer's Copy. Borrower shall be furnished a conformed copy of [he Note and of this Mortgage at the time
<br />of ezecutiov or after recordation hereof.
<br />17. Transfer of the Property; A~vmptioo. 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 creatior. of a lien or encumbrance subordinate to
<br />[his Mortgage, (b) [he creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon [he death of a joint tenant ar (d) the grant of any lea~hold interest of three years or less
<br />not containing an option to purchase, Lender may, at 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 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 shalt be at such rate as Lender
<br />shall regtxst. if Lender has waived the option to accelerate provided in this paragraph 1T, and if Borrower's successor in
<br />interest has executed a writttn assumption agreement aaepted in writing by Lender, Lender shall release Borrower from ail
<br />ab3igations under this Mortgage and the Note.
<br />If Lender exercises stuh option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragrapfi 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is matTed within
<br />which Harrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br />Lendez may, withotrt further aotitt or dema~ on Borrower, invoke any remediu permitted by paragraph 18 hereof.
<br />Nox-Uxreoant Covenntxrs. Borrower and Lender funkier covenant and agrce as follows:
<br />1R. Aecderatios; Remed&s Except m prerided ht puagraph tT hereof, upon Borrower's breach of any covenant or
<br />agtecmeat of Dorrorrtt is thb Mortgage, iae)ading the covenants to pay when doe nay satm secarcd 6y this Mortgage,
<br />iuader prbr to acceeratioa ~ msq notice to Hotmmrer as provided in paragraph 14 heteot specifying: (1) the breach;
<br />(2) the aeUoa re~airod to eta sttcit brneh; {3) s date, eat kas than JO days from the date the aotke is mailed to Borrower,
<br />by rr-ieb each badch most be eaterk and (4) that faAore to cure such breu6 oa or before the date specified in the entice
<br />may resell hs acedentioa of the snrm secured by thb M1tortgsge, tar~.closare by judicial proceedtog and sale of the Pmpe: ty.
<br />Ttse uatlee sbaB fmther worm Ilurrower of the right to reinstate after acceleration and the right to assert fm the foreclosmx
<br />. pracnedtag fhe non-ezlRaace of a dthtdt er asy other defeefe of Borrower to a.-celeration and foreclosure. If the breach
<br />i etst cored on ~ before the date specified ie fhe entice, [.ceder a! Lender's option rnaY declare aU of the soots secured by
<br />fits Mea~trge to lie y dtsY and pnq~tle rriihaut further demand and rsay foreclose by jadlcial proceeding. Leader
<br />skies be eaWh:d to co8ect In such praceedieg tl a:praxs d foreclawm, iudnding, but not Smiled to, costs of docameatary
<br />eridtsce, abstracts and litk repotb.
<br />19. 1larowerh Right to Reidtafe. Notwiths•.aeding Leader's acceleration of the sums secured by [Eris Mortgage,
<br />Borrower shag have the right to have any proceedings begun by Lender [o enforce this Mortgage discontinued at any time
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