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<br />79~`uG ~~~'~
<br />Lender"s written agreement or applicable iaw. 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 it+.teresi thereon, shall become additional
<br />indebtedness of Borzower 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 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 iaw, in which event such amounts shall bear interest at the highest =-ate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />f,. InspecY~tsn. Tender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender 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 or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property. or part thereof. ar fm 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 ?sortgage.
<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 :ums secured Hy this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums sec~!red hp this Mortgage immediately priar to the date of
<br />taking bears to [he fair market value of the Property immediately prior to [he date of taking, with the balance of [he 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 settle a claim for damages. Burrower 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 wms secured by this Mortgage.
<br />Unless Lender artd 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 1 and 2 hereof or change the amount of
<br />such installments.
<br />~, , a_,_-___~ >•_.e.._:.__ ,.c t;;~ ..,.,a r~ „~~,..,..,,r „~ m~,dification of amortization of the sums secured
<br />la. iWPro~icr nor aerc~c... a..~.~..~,,....,: ....,,.._.. r-. ..._... _' ____-
<br />by this Mortgage granted by Lender to arty successoz in interest of Borrower shall not operate to release, in any manner.
<br />the tiability 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 orgina! Borrower and Borrower's successors in interest.
<br />11. Forbearaee by Linder Not a V/'aever. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shat) not he- a waiver of or preclude the exercise of any such right or remedy.
<br />lire procurement of insurance or the payment of taxes or ether liens or charges by Lender shall not be a waiver of Lender's
<br />right to acceieraie the maturity of the indebtedness secured by this h4ortgage.
<br />12. Remedies Cmaabigva All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under ehis Mortgage or afforded by law or equity. and may be exercised concurrently. independend} or successively.
<br />13. Srrcceasoea and A~gas Bound; Joint and Several LiabiiL'ty; Captions. 71te covenants and agreements herein
<br />contained shall bind, and the rights hereunder shat: inure to. the respective successors and assigns of Lender and Borrower.
<br />sabjtct to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br />The captions artd headings of the paragraphs of this Mortgage are for convenience only and are not m be used to
<br />interpret or define the provisions hereof.
<br />14. Niogce. Except for soy notice required under applicable law to be given in another manner, (al 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 />tb) any trMice io Lender shell be given by certified mail, return receipt requested. to Lenders address stated 'Herein or to
<br />wch other address as Lender may designate by notice m 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. UaHorm Mortgage; Gcrveroi~ Law; Seve.=tu73ty Tnis form of mortgage combines unifotn covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument wvrodng
<br />real property. 'Ibis Mortgage shall be governed 6}. the ]aw of the jurisdiction in which the Property is located. In the
<br />event that any prevision or ciaux of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />ot.~'e.'' provisiot>< of this Mortgage ar the Note which can be given effect without the conflicting provision, and to this
<br />end the previsions of the ?mortgage and ihr_ Note are declared :e be severable.
<br />16. tiorrowet's Copy. Harrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of txeeution or after recordation hereof.
<br />17. Tnwfer of the Property; Aammption. If ail or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's priar writter, cor_sent, ^xciuding (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 />descent or by oparatim of law upon the death of a joint tenant ar (d) the grant of any leasehold interest of three }'ears or less
<br />~t ooatainirrg an optior. to purchase. Lender may, at Lender's option. declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lenart shall have waived sues option to accelerate if, prior to the sale or transfer. Lender
<br />and the person to whom the Property' is to be sold or trattsftmd reach agrcement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable o.^. the sums secured by this Mortgage shall be at such rate as Lender
<br />shag regtxst. If Lertder bas waived the option to accelerate provided in this paragraph 17, and if Borsower's succeswr in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shat! release Borrower from all
<br />obligations under this Mortgage and tbe Nutt.
<br />TE Lender exercises arch option to acceerate. Lender shat( mail Borrower notice of acceleration in accordance with
<br />paragraph l4 hereof. Strch notice shall provide a period of oat less than 30 days from the date the nonce is marled within
<br />which Horrower may pay the sums deciazed due. If Borrower faits to pay such earns prior to the expiration of such period,
<br />Lerida tray, without further Notice or demand on Borrower, invoke any remedies permitted by paragraph IS hereof.
<br />Nox-UNtr-atta Covex.+xrs. Borrower and Leader further covenant and agree as follows:
<br />Ig. Acedaaeioa: Remedfm. Except as provided m paragreph 17 hereof, apoa Borrower's breach of ady covenant or
<br />> of )grower is tlda MortgeEe, iactadtag the cpvenaB25 to pay when doe nay suHre secured by this Mortgage,
<br />Lt,3er p>dar to acceleraGoa ~ mtg aogee to Borrower as provWed in paragraph 14 hereof specHyirig: (I) the breach:
<br />(2} the acttoa rt~aired to e®e each breach; 43l a data not leas than 30 days from the dMe the notice lg mailed to Borrower.
<br />by w6kh latch 6eeaeh Bari be cued; and (4j that faBure to care srrtb breach oa or before the date specified In the unties
<br />mA teaak ha aecekaatiea d the sam taxared by this Moe~age, foreclosure by jadiciai proceeding and sale of she Property
<br />The aogrx aha® fmthv lanes ftaQOwex of the riEAt to reinstate deer acceleration and the right to assert in the foreclware
<br />ptotter gee awe d a default or nay other defense of Eorrower to trccekration and foreclaeme. If the breach
<br />is test twre3 ou w before the date hs the ootkt, Leader at Ltrrder's optba may declare ag of the sums secured by
<br />Leda More to 6a lemedFately ie aai payable wBhout farther demand sad may foreclose by jndkia! proceedinP. Leader
<br />ahaB 6e etadlled b eaReet im wch ! alt ezpesae4 of foreelorore, iaclodhrg, bat not Bmked to, costs of docamtntar}•
<br />evidence, ahaltacb anti 1N3e eeporis.
<br />13. lortvwe:'s Right b RehrRate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower abet( have the tight to have any pmceedrrrgs 6=gun by Lender to enforce this Mortgage discontinued at any time
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