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<br />Lender's written agreement or applica~kcle taw. Harrower shat] pay the'. aanourt of aft mortgagee insurance prerriiiisams in rice
<br />meaner pn'ovided under par~a,I;rapit 2 }tarsal.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shaii become additional
<br />indebtedness of Barrouer secured by ibis *dortgage. Unless Barrcwer and Lender agree to other terns of pa•'ment, such
<br />amounts shaii be payable upon notice from tender to Borrower regeesting payment thereof. and shaii bear interest from the
<br />date of disbursamsnt at the rate payable from time tc time an antstanding principal under the Noie unless payment of
<br />interest at such rats 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 />;3. InspecNan. i.ender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior eo any such inspection specifying reasonable cause therefor related to tender'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 />condemnatian or other taking of the Property, or part thereof. or for conveyance in lieu of condemnatian, are hereby assigned
<br />and shalt 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 th= event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied io the sums secured by this Mortgage such proportion of the proceeds
<br />a is ecual to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking burs to the fair market value of the Property immediately prier to the date of taking, with the balance of the proceeds
<br />paid to Borrawer.
<br />if the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemner offers to make
<br />n award or settle a claim for damages, Borrower fails m respond to tender within 30 days after the date such notice is
<br />mailed. Lender is authorized to collect and apply the proceeds, at tender's option, either to restoration or repair of the
<br />Property ar 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 date of the monthly installments referred to in paragraphs 1 and Z hereof ar change the amount of
<br />such installments.
<br />10. Borrower Plot Released. Extension of the time for payment or modification of amortization of the sums secured
<br />6y this Mortgage granted by Lender to any successor in interest of Harrower shall not operate to release. in any manner,
<br />the Gabiiity of ti;a original Borrower and Borrower's successors in interest. I-ender 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 anginal Borrower and Borrower's successors in interest.
<br />fll. Forbearance by Y,ender Not a 3Yaiver. Any forbearance bs Lender in exercising am• right ar remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procureme^t of insurance or the payment of taxes or other liens or charges by Lender shat! not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. 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 he exercised cancurrenHy, independently or successiveiv.
<br />i3. Successors and Assigns Bound; Joint and Several I,iab7ity; Captions. The covenants and agreements herein
<br />contained shaii bind, and the rights hereunder shall imtre to, the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shalt be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are far convenience only and are not io 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, (a) any notice to
<br />Borrower pravided for in this Mortgage shall be given by mailing such notice by certified mail addressed tc Bo: rower at
<br />the Property Address or at such other address as Borrawer may designate by notice ro Lender as provided herein, and
<br />(b) any notice to Lender shat! be given by certified mail, return receipt requested, to Lender's address stated herein ar to
<br />such other address as Lender may designate by notice to Harrower as provided herein. Any notice pravided for in this
<br />Mortgage shall he deemed to have been given to Barrcwe: or Lender when given in the manner designated herein.
<br />i5. ilJniform R~ortgage; Governing Law; Severabil'tty. This farm of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction is cottsiitttie a uniform security instrument covering
<br />real property. `I'bis Mortgage shaii be y;avcrned Irv the law of the jtirisdictian in which tits Prapert}' is ICSCattd. in fhe
<br />event that any provision er clause of this hfartgage ar the Nate conflicts with applicable law', such ean9ict shall net affect
<br />ciher nrovisiors ai *his Rlart_a9e e. *he Note which can be given eRect witheu[ *.he caniliet=,ng p .,vision, and ra this
<br />end the per+isiens r the Mo ~ and the Nate are declared to be scverahle.
<br />16. iRaa•rowePs Capy. Borrawer shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If al! or any part of the Property or an interest therein is said or transferred
<br />by Barrowe~ without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (hl the crearon of a purchase money security interest far household appliances. (c) a transfer 6y devise,
<br />descent or by operation of law upon the eteath of a joint tenant or (dl the grant of any leasehold interest of three years or less
<br />net containing an option U? purchase Lender may. at Lender's option, declare a!i the sums reeved bt• this Atortgage to be
<br />immediately due and payable. Lender shaii have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person Eo whom the Property is to be soles or transferred reach agreement in writing that the credit of su:h person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate :+, Larder
<br />shall reques[. If l.erder has waived the option to accelerate provided in this paragraph 17, and if Borrower's sueeesor in
<br />interest has executed a •aritten assumption agreement accepted in writing by Lender, Lender shall release Borrower tram all
<br />u!zligations under this Mortgage and the Nete.
<br />Ii' lender exercises such optior, to aecsierats, Lender shall mail Barrewer notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the data the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrawer fails to pay such sums prior to the expiration of such period,
<br />tender may, without further notice or demand on Borrawer, invoke any remedies permitted by paragraph 18 hereof.
<br />No*s-L1r:tr'axst :.,aver.^at:~s. Borrawer and tender further covenant end agree as fatlo+vs:
<br />I6. Acceleration; Remedies. Except as provided in paragraph 1? hereof, ripen Burrowers breach of any covenant or
<br />agreement of Borrower in this Mortgage, including the cavenants to pay when due snv sum. secured by this Mortgage,
<br />Leader prior to accekratian shall mail rwtice to Borrower as pravided in paragraph 14 hereof speetfytnga (i) the breach;
<br />(2) the action required to sure such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower,
<br />by which such breach must be cured; a~ (4) thaE faNare to care such breach on or before the daft spceiRed in the notice
<br />may result in acceleration of the sums secured by this Mortgage, foreclosure by jadkial proceeding and sale of the Property.
<br />The nodes shall further in#orm Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the mm-existenet of a default or any Mher defetase of Borrower to acnleratioa and foreclosure. if the breach
<br />a not cared on or before the date specified in the aotice, Lender at Lender's option may declare all of the sums secured by
<br />thlte Mortgage to be immediately doe aad payable without further demand and may foreclose h}' judicial proceeding. Lender
<br />sbaB be entitled to collect in such proceeding all expenses of foreclosux, including, but not limited to, costs of documentary
<br />evidence, abstracts and title reports.
<br />19. igorrower`s night to t~eiastate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Ix,rrawer shaii hays the tight to have any proceodings begun by Le..der to enlaces this Mortgage discontinued at any time
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