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<br />79- 00465
<br />Lender's written agreement or applicable law. Bo:mwer shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under pazagraph 2 hereof.
<br />Any amounts 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 to Borrower requesting payment thereof, and shall bear interest from the
<br />data 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 law, in which event such amounts shall bear interest at the higher*. rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shalt require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Ixoder may make or cause to be made reasonable entries upon and inspections of the Property. provided
<br />[ha[ Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to tender's
<br />interest in the Property.
<br />9. Condemnatkrn. The proceeds of an}• award er claim for damages. direct or consequential, in rnnnection with any
<br />condemnation or other taking of the Property, or part thereof. ar for conveyance in lieu of rnndemnatiun, are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a rant taking of the Propem', the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid !o Borrower in the event of a partial taking of the Pmpert}'. unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the rams secured by 4his Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sum, secured b}' this lfnrt¢a¢e immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately poor io 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 [he condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails to respond to Ltnder 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 tiro
<br />Propem' 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 postpone the due dart of the monthly irstaliments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
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<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liabiliq• of the original Borrower and Borrower's successors in interest. Lender shall not he required to commence
<br />proceedings against such successor er refuse to extend time for payment er othenc'ise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made b the ori¢inal Borrower and Borrower's successors in interest.
<br />11. Forbearaece 6y Lettler Not a R'aiver. Am- forbearance by Lender in exerising am• right nr remedy hereunder, or
<br />otherwise afforded by applicable law, shalt not be a waiver of or prYClude the exercise of any such nigh[ or remedy.
<br />'IIu ptvcurement of insurance er the navment of taxes or offitr liens or charges b}• Lender shall not be a waiver of Lendei s
<br />right to acceletaic the maturity of the indehtednev secured by this Mortgage.
<br />12 Remedies Cumulative. All remedies precidtd in this Mortgage are distinct and cumulative to any other right or
<br />remedy under shis Mortgage or arl'orded he law or equit}', and mac he exercised concurrently, independentlc or succe s^•t!}•.
<br />f3. Saccessoa and Atvgns BoaRd; 7aiat and Several Liability; Captions. 'the covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and BotTOwer.
<br />subject to the provisions of paragraph i? hereof. .411 covenants and agreements of Borrower shall be joint :.nd several.
<br />The wpiinns and headings of the paragraphs of this Mortgage are for mnvenienct ooh' and are not to be used to
<br />interpret or defirn the provisions hereof.
<br />I4. Notice. Except for anv notice required under applicable lain to be given in another manner, (a) anv notice to
<br />Bor;ourr provided for in this Mortgage shall be given b}• mailing such notice by ctnified mail addressed to Borrower at
<br />the Pmpert}' .Address or at such other address as Borrower ma}' designate by notice ro Lender as provided herein, and
<br />fhl anv notice to Leader shall be given b}' cer,L3ed math rerun receipt requested, to Lenders address stand heroin nr to
<br />sv.-,h ocher address zs Ltnder may desi¢nate he notice to Borrower as provided ixrein_ Any notice ptrcided for in this
<br />Nnngage shaft L+e deemed to have been gixzn to Borrower or Ltnder when given in the manner designated herein.
<br />15. L'e~otm lslortgage; Gorerniag Law: Sex'trabilit}'• This form of mortgage combines uniform covenants for national
<br />use and rton-uniform cnvenanu with limited variations by jurisdiction to rnmm~ne a uniform securia' instrument covering
<br />real proptm•. Tnis Mortgage shall be governed by the law of the jurisdiction in which [he Prapenv is located. in the
<br />event that any provision or clause of this hfortgatte of the Note ronflicts with applicable lan•, such rnnflict shall not atfett
<br />atsxr prors~^.s of this Tt!ortgagt ^r *.lt= Nott which can be giver, effect wvhout the wnRictin¢ pmvisson, and to this
<br />end the provisions of the Mertyage and the Nate art declared to be stvtrablt.
<br />16 lorresr~rrs Copy. Borrower shall he furn;shtd a conformed cop} of the Nett and of this Mortgage at the time
<br />of exuution or after recordation hereof.
<br />17. Traadu of the Propert}•; :lavmption. If all or an} pan of the Pmptm~ nr an interest therein is sold or transferred
<br />M' Borrower witch ut Leg's prior u-ritten consent. excluding +at tbe creation of a lien or encumhtance subordinate to
<br />this Mongagt. fb' the creation of a punhase monn~ security mternt for household appliances, ic) a transfer by devise,
<br />descent or by operation of tau- upon the death of a jorot tenant or idt the grant of an}' Icasehold interest of three }'tars or less
<br />ntu torsaaining sn option to pvrchau, Leader ma}', at Lender's option, declare all the sums secured b} this Mortgage to be
<br />imittediateh' dx and pavablr. Ltnder shall have waived such opti~tt to acttlerate if, prior to the sale or tranaftr, Lender
<br />and Lhe person to wfiom the Ptoptm~ is to be sold ar ttansftrrtd rea.'h agreement to writing that the credit of such person
<br />is aatisfactos?~ to Ltnder and that ihz intent-st pa}'obit on the sums secured b} this 1longage shall ht at such rats as Lender
<br />shag request. If Ltnder has waived Iht option to accelerate rnrn-ided in this paragraph I?, and if Bormu•tr's successor in
<br />interst has executed a w-rir,en assrrrrfptiett a~tment a^ctpted in writing by i.ender, Ltnder shall release &~nower from all
<br />obligations trader this Mortgage and the Noe.
<br />If Lender exercises szKxh option fa aaekratt. Lcndtr sha31 mail Borrower notice of acceleration in accordance with
<br />paragraph 74 hereta£ Stxh noiire shall provide a ptricd of not less than 30 days from the date the notice is maned within
<br />which $orrower may pay the snots declared due. Ti Bonouer faits +o pay such sums prior to the zxpiration of such period.
<br />Lender ittay, without further >wtice or demtuad on 8nrrower. invoke any remedies permitted b}• paragraph 18 hereof.
<br />N+7a.-Ut+t~o><x Covexw.vrs. Burrower and lender tvrihtr mvenam acrd agree as folicws:
<br />Ig. Arcele:aOte; Reer~er. Fssept as provided ins paragraph 17 hereof, apta Eorrnwer's brtaeh of nay coveeant or
<br />a ~ 7Sorrsaru >s !~ lFlottlaft~ ieele~g flit covenants tt pay whoa doe nay rams steered b}• this Morgttee,
<br />Itlder prier tt actx>r~a trhall nub notice to 6ormsver as provided in par•assaph iZ heron! specifyinL: tl) the breath:
<br />(2) ~e actlte > ~ ceee seeh heeaeh; (3i a tinEe. ear tern thsa 30 days from the date the notice is mailed to Eoerower,
<br />3ry whlie- sateh iasach swH >k week and NI that fa+3erre to nee sxh breach ua or before the date speeifiied in the notke
<br />atry rwlt u acarolrs>tloe ~ the sums feeerad by tilts Eslortgage• forecloserr by jaditial proceeding and ask o[ the Property
<br />Tfte aodoe siu9 [ertha hdar>e iorrtwev of the rich[ a reinstate siren accderatioa and the right to assts ®the fortxbsare
<br />pracardbtg Se ere at a detach ter >u7 oilier defeat of $ortawu to accelentioe nand foreciosare. jf the brtac6
<br />s trot cearcd tm ter before ~ &tt spedi'ted s the attire, ftndtr at Lender's option may decbrrc ~ of the same secured be
<br />this Merf~e ko be iemet>btdy thx sad luyabk wNhont farther demand and guy foreclose by judicial Proceeding. Lender
<br />shsN lie eafiitled ~ collect ie seep per a@ etrperues of foreebsure, incindlag, bet not {iunhed to, casts of doenmentary
<br />ririeatt, aiadtaets sad title repath.
<br />1~. 7wrow~s Right to Rt3mtafe Notwithstanding Lender's acceleration of the sums secured by thu Mortgage.
<br />Borrtmu snail have the right to have any proceedings ixgun by Lender to enforce this Mortgage discontinued a[ any time
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