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<br />79- ~U~$t36
<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 amount; disbursed 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 />amounts shall be payable upon notice from Lender tv 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 artless 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 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. fnspectfon. 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 arn• 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, arc hereby assigned
<br />and shat) 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 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 sums secured by this bfortgage 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 Propem• 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 settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Linder is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />Froperty or to the sums secured by this Mvrtea¢e.
<br />Unless Lender and Borrower otherwise agree in writing. am' such application of proceeds to principal shalt not extend
<br />or postpor[e the due date of the monthly installments referred ro in paragraphs 1 and 2 hereof yr change the amount of
<br />such installments.
<br />18. Borrower Not Refeased. Ezrension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage ¢ranted l+y Lender to ar._v successor in interest of Borrower shall not operate to release, in cry manner,
<br />the liability of the original Bonewer and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings cgainst such successor yr refuse tv extend time for payment yr otherwise modify amortization of the sums
<br />secured try this Mortgage by reason of arty demand made by the original Borrower and Borrower's successors in intemt.
<br />Il. Forbeataere by Lender Not a Waiver. Am fort+earance by Lender in exercising am• right yr remedy hereunder, or
<br />otherwise afforded by applicable taw, shad no[ be a waiver of or preclude the exercise of any such right or rem~y.
<br />The procurement of insuranre or the payment of rases or other liens or charges by Lender shall not be a waiver of Lender's
<br />right io accelerie the maturity of the indebtedness secured by this '•lortgage.
<br />i3. Remeffirx Camefative. All remedies provided in this +fon¢age are distinct and cumulative to any other right or
<br />remed}• under this Mortgage or afforded by law or equine, and may be exercised rnncurrenth•, independently or successively.
<br />13. Snecesmts cad Asigas Bonnd; Joint and Several i3abBity: Captions. The covenants and agreements herein
<br />coatairted shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br />sabject to the provisions of paragraph 1? hereof. .411 covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience onl}• and are not tv be used to
<br />ir['e~erpret or define the provisions hcrmf.
<br />14. Notiee. Exttpt for any notice required under applicable law to be given in another manner, (a) erne notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice b}• certified mail addressed to Borrower at
<br />t}x Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />lb) any notice to Leader shall be given ltv certified mail, return receipt requested, to Lenders address stated herein or to
<br />such ether address ss Leader may desienate by .tour. tv Borrower as provided herein. Any notice provided for in this
<br />Mvngage shall be deemed to bare boon given to Borrower or Lender when given in the rrranner designated herein,
<br />I5. UaBarm Mort aye; tioveraiars Law; SeverabrTih'. This form of mvngage cvmbina uniforr covenants for national
<br />use and Iron-uniform rnvenants with limited variations by jurisdiction to constitute a uniform securit}• instrument rovering
<br />irai propem•- This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />evert chat any provision or clavse of ffiis Mortgage or the Nnte conflicts with applicable law•, such conflict shall not affect
<br />other provisions of this Mortgage or the Nnte which can be given eff~.[ without the canflicdng provision, and to this
<br />e~ tfr pntvis~rs of :lu Mortgage and the Vale are dxlared tv tz s~yerablc.
<br />16. 1Earmser's Copy. Borrower shag M furnished a conformed copy of the No[e and of this Mortgage at the time
<br />of exxutiart or after recordation. herxf.
<br />17. Tean¢a of the Property; ?~ssantptioa. If al! or any pan of the Propem• ar an interw-t therein is sold nr transferred
<br />by Borowa withatn Lender's prior w•ritien consent. ezeluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, {b) the crcatiort of a purchase money savrih' interest for household appliances, (c) a transfer by devise,
<br />descent er by operarion of law upon the death of a joint tenant nr fd+ the grant of an}- leasehold interest of rheas yeah or less
<br />not cantaifling 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. Linder shah hays waived such option [o accelerate if, prior to the sale or transfer, Lender
<br />and the persons ro wham the Property a io be sold nr transferred reach agreement in writing chat the credit of such person
<br />is satisfactar}~ to Lender and that the interest payable nn the sums secured b}' this Mortgage shall be at such rate as Lender
<br />shad rcgttrst If Lender tsar waived iFT aptian to ac.^rl:.-are pmvidcc in this paragraph 17. and if Bvrrrnv-zr's succes~xr in
<br />intact hu executed a written assumption agrr_ment accepted in writing by Leader. Lender shall release Borrower teem ail
<br />trliligaLimes under this Mortgage atsd the Noxe..
<br />If Lender exercises such aptioe to aecekrate, Lender shall mail Borrower notice of acceleration in a,:cotdance with
<br />paragraph 14 hereof. Stteh notitt shall provide a period of not less than 3t1 days from the date the notice is marled within
<br />which Stmnwa may pay the sums dalared due. If Borrower fails to pap such sums prior to ttw_ expiration of such period,
<br />Leader may, with:otn fvrtixr notice or demand on Bnrrewer, insole any remedies permitted b}• paragraph 13 hereof.
<br />Naev-Un~r~[N Cor~.r:ar-is• Barraw;<a and Lauder further cotenant and agree as follows:
<br />18. Aatimatlea; IIsmedira. Except m peottidtd ~ p~rapb 17 hereof, tEpae Borrower's breach of any caveaaat or
<br />spmmem of Borrower !a ~ Moatptee, iac~8iq the covensnK m pay wfaes doe aey mms maned by thin Mortgage.
<br />i~aw i~ b sziea °-s ~ satin m Barrssva ~ pso*<ided th paragraph 13 baeof apecif}iag: ill Ilse b,each:
<br />(2) f~ arUea reeked A asre mcY bench: (3i a dam. cot Iesa than 30 days from the date the aotftt ~ maled to Borrower,
<br />by wbieb rani ianti meat be tared; acid (!i ~ faYme to ears Bach breach oa or before the da& tpeeli;ed is the aoNer
<br />mat reed! >w aeaierafiao of Ae rams mated by Ais Morfptge, forectormre 63 jadkiai Proceeding cad sale of the Property.
<br />'ife eMite aba! tartbee ktfaem Baaao+rer d Ae tilt to reiasmte after accderation cad the right to assert in the foredosurc
<br />praceedkts the aea~ee of s dc#nir a nay aAer Aefnse of Borrower to acceleratioe a~ foreelasare. Tf the 6reaeh
<br />'1'a ant emei n x 6eime Ae date needled ~ the satire, Leadn at Lender's option may declare all of the sums secured by
<br />Ala ~ IK IawsediaMiy doe cad pyabie wiibout fetiber demand cad may foreckse by jadicid proceeding. Lender
<br />ahaY ba ettl>Bd to toBrd L feel poceeding al expesaes of forecktmre, inrisding, bat not tivrhed to, teats of doesmestary
<br />midace. abetraeb and title seposfa.
<br />54. >iorrowml ~ b Yektmte. Tvotwithstanding Lendei s acceleration of the sums secured by this Mortgage,
<br />Bwrawer shall have the right to have avy grottedings begmt by Lender to enforce this Dfongage discontinued at any time
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