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Len~tler's •,writren agreetttent or applicable law. B'orraw~tr shall pay tltt amount of all mortgage ;nsurarace prayrniuoras ;n the
<br />ntan;ntr lrt'ovided under paragraph 2 hereof.
<br />many amounts disbursed by Lender pursuatat to this paragral,tlt 7, with interest thereon, shall btconte addituoneal
<br />indeb!edress a. Borrower secured by this Mortgage. Units Borrower and Lender agree to other terms of payment, such
<br />~ amounts shalt bt payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />~ date of disbursement ai the rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate ~wauld 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 />Q~ any action hereunder.
<br />/~ 8. insptefian. Lender 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 cease 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 shad be paid to Lender.
<br />In the event of a total taking of the Property. the proceeds shall be applied to the =ums secured by this Mortgage.
<br />with the excess, if any, peed 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 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 />takir+.g 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 settle a claim for damages, Borrower fails to respond to i_tnder 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 [o the sums secured by this Mortgage.
<br />Unless, 1 ender and Borrower otherwise agree in writing, any such application of proceeds to principal shalt not extend
<br />or postpone the due date of the monthly installments rferred 4o in paragraphs 1 and 2 hereof ar change the amount of
<br />such installments.
<br />10. Borrower Not €Iettased. F..xiension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage graotcd by Ltndtr 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 shalt 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 />securtid by this Mortgage by reason of any demand malt by the original Borrower and Burrowet's successors in interest.
<br />i i. *~orbearsnce by :xn:itr Iva a H'alver. ,4ny forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicabte Vaw, shall not fie a waiver of or preclude the exercise of any such right or remedy.
<br />'Phe procurement of insurance or the payment of taus ar other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indtbtedntss uncured 6y this Mortgage.
<br />i2. l~temedte5 Cumalattve. ,411 remedies provided in this Mortgage arc distinct and cumulative to any other right or
<br />remedy under this P+fortgagc or afforded by law or cyuity, and may he exercised concurrently, independently or successivth.
<br />13. Successors and Assgtas Bound; )Dint anti Several LlabiBty; 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 i 7 hereof. ,At! rnvenants and agreements of Borrower shall be joint and several.
<br />"Iltt captions and headings of the paragraphs of this Mottgagt are for corvenitnce only uteri are not to bt used to
<br />interpret or define the provisions htreo€.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any nMke to
<br />Borrower provided for in this Mortgage shall be given b}' mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designare by notice to Ltndtr as provided herein, and
<br />!h) any notice to Lender shall be given by certified mail. return receipt requested, to Lender's sddress stated herein ar to
<br />such other address as [.ender may ds:signare by notice to Borrower as provided herein. Any notice pravidtd foe ir, zhis
<br />Mortgage shalt be deemed to have been given to Borrower or i.endtc when given in the manner designated herein.
<br />,~. 4raitarm lEiorigaxz; governing Lave; Stverablilty. lAis form of mortgage combines uniform covenants for naEional
<br />use and pan-unit;+m-t covenant, with limited variations by juriuticiion to constintte a uniform security iastrvmtn[ covering
<br />!'cal property. 7lsis 4larteavc shalt t±e gr?vented hv_ the tsw of rh? ;urisd=cri•~n io yyhii;lr the Propt+•}t is lotattd. lr: the
<br />event that ,r-tv provisr~tn or claw of this Mortgage or the Note ontlict -pith applicable law. snclr .r'nitlicr shell nut affect
<br />oih;,r t,r: - -, of .. , ,~~~ gad:. ~ , the :r'Jt~T which ~a,t ~ !z :'cti eile~i wi#lit tit lire varittieturg pr~rnit n, and to ihia
<br />erd the provisions of,thc M1iurtgage and the Note are declared [u tie sevtrahie.
<br />.fi. 13airv~.ers i ope. Borrower shall 6t furnished a eimformtd copy of the Note and of this Mortgage at th^ time
<br />of cXc._utinn or after recordation hereai,
<br />17. 'Craasfer of the Property; Aw-sumpNon. If alt or any part of the Pmpcrty ar an interest therein is sold er transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate io
<br />this Mortgage, (h) the creation of z purchase money security interest Fi+r household appliances, tc) a transfer by devise,
<br />desi;ent or by operation of law open the death of a joint tenant or td) the grant of any leasehold interest of three years or Itss
<br />not containing an option to purchase, Lender may, at Lender's option, declare ail the sums stsurni by this ktortgage tit be
<br />immediately due and payable. Lender shall have waived such option a+ accelerate if, prior to the sale or n-ansfer, Ltndtr
<br />and the person h~ whom the Propert}' is to be sold or iransftrred reach agreement in writing that the credit of sui-h person
<br />is satistacrory to Lender and that the interest payable on the zums secured by this Tvtortgagt shall bt at such rare ai Ltndtr
<br />shall request. if Lender has waived the optian to accelerate provided in this paragraph 17, and if Bormwer's successor ht
<br />inttrtet has executed a wrtttn assumption agreement accepted in writing bw l,tnder, I tn:ttr shat; rcltas:. Bur:awer tram a!1
<br />abligattons under this Mortgage and thr Nott.
<br />Tf Ltndtr extreises such option to acctltrate. Lender shall mail &xrower notice of aectlttatirnt in accordance with
<br />paragraph :•t htrtui'. ~suc;, nutlet ltalt y?rvvide a ~riod of nc+[ less than 3b days from the daft the notice is mailed within
<br />which Batrawer may pay for slaps dtctared elite- It Butrnwer faits to p&y such toms prior to the expiration of such period,
<br />l_entkr may, vi~ithuut further honer or .kmand on Burrower, invoke any remedies permitted by paragraph l8 hereof.
<br />Nisx-Uxrrtrasi C~tril=nnrvrs. &nrowtr and [,ender further ct}versant and agnx as fullaws:
<br />tit. ii~.tt: st:.r[r~dfw~. Pesorpt as provided is paragraph 17 trereat, upon Borrower's itre-arh oi•' any cavtsant or
<br />a~r•teurtret of Borrower t~ ;liortg~e, i~lti tkt tovtnents Ea Asti ewisen due any ~ ze: ~ b3 sbti [Stertg~t,
<br />Leader prior ua accekntkta shall Wadi notke to tiorrowtr as provhted In paragraph It hcrro! specifying; ti) the brescb:
<br />(~} t~ tn.Ylott rtgtdted to lute stole l~eseht f3) s ds~, ~ kss titan 3tt days ftxrat eta dare Eice aotkr ~ rttalled to Borrower,
<br />by m-ls%!t eurR breach mgt be stood: and (4? ttrat faHura to cure such breach oft ar iktore ~t date ~rtttged Ip fix twtict
<br />may ressPo in arceferatioa of the sums secured by this Mortgage, forecioaure by Judkird proceeding sad srde of the
<br />Ptoptrty.
<br />'!'ht aaHee atrall further iurorat Barrrtwer ~ Me tight to reBtsiWe after acceleratlas and the right to tuisert is tie f;orecioauro
<br />paocesdis~g the sou-eilstetter of a dsdaalt or say otter detesase of 1orrower fa steekrat&ta turd farecbsare. tt the breach
<br />~ aot cur+ett oa or before the dais speeifled is t;se aoHce, Leader at Leader's optian may declare aB of the saaq secured by
<br />tbhr Mortgage to be immediately doe sad payable without farther demand sod stay forccbse by jadlcial proteedlag. Leader
<br />shall bt tatttled to Caiiect in such proceeding nil eapetaes of forectasure, tacludlag, bat not ltmited fo, sroetx of dacamtntary
<br />ovfdente, abairacts and title reports,
<br />4?. ~orrarrer's lltf~Lt to ;geimRSte. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br />isotr6wcr shalt have the right to have any proceedings begun by I.endet to enforce this Mortgage discontinued at any time
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