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Lenders vvriitten a;„neeinrnei~tit a;r ahpliaamte ]a~w. Ba:rv~,rr~wer slhialll pay the ~arrrount of gill ntorrgag;e insurai,n;;e prern9~urnw ire the
<br />nsz.nnc-r Ii id:d ~E'lCer carag;raph Z aereolf.
<br />'s`^ Any rnotnl:s dtsbwrszafi by Ixrder pursuant to this paragraph 7,. wiitii~ interest dh~ereon, ;chili becornie additionac
<br />(;;} indeb?ednes; of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of nacment. such
<br />amounts shall he payable upon notice from Lender to Sarrower requesting payment thereof. and shalt bear inieres*. from the
<br />j,~ date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payrrtent of
<br />interest at such rate u•ou]d be contrary to applicable law, in which event such amounts shall 'Dear interest at the t:';hest rate
<br />permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action tereunder.
<br />8. Inspection. Lender may make or cause to he made reasonable entries open and inspections of the Property, provided
<br />~ that Lender shalt give Borrower notice prior to any such inspection specifying reasonable cause taerefar related is Lxnder's
<br />interest rn the Property.
<br />4. Coudemnafion. The proceeds of any award or claim ter damattes. direct er consequential, in connection with any
<br />condemnation ar other taking of the Property, or part thereof, or for conveyance in lieu of candemnatian, are hereby assigned
<br />and shall be Caid to Lender.
<br />In the event of a tatai takin¢ of the Property. the proceeds shall be applied to the sums secured Sy 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 suns secured by this Morteage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured h}• this Mortgage immediately prior to the date of
<br />taking bears ro the fair market value of the Propert: immediately prior to the date of taking. with the balance of the proceeds
<br />paid to Borrower.
<br />7f the Property is abandoned by Harrower, or if, after notice by Lender to Harrower that the condemnor offers to make
<br />an award ar settle a claim for damages, Borrower fails to respond to Lender within 30 days afte* 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 ra the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shah not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments.
<br />40. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to an}' successor in interest of Borrower sha!i not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Ixnder 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 Me,-tgage by reason of any demand tstade bs' the original Barrower and Bnrrnw•er's succes_se-s in interest.
<br />2 L Forbearat€;e by Linder Not a R'aiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded ay applicable taw, shall not tee a waiver of a. preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes ar other liens or charges by Lender shat! not be a waiver of Lendei s
<br />:right to accelerate the maturit}• of the indebtedness secured by this Mortgage.
<br />22. Remedies Cumutafive. Alt remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remed}• under this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or successively.
<br />I3. Saccessors and Assigns Bound; ioint and Several I,iabiiity; Captions. The covenants and agreements herein
<br />contained shalt bind, and the rights hereunder shat! inure tn, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. Ali covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of tae paragraphs of this Mortgage are far convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />24. Notice. Except for any notice required under applicable law to be given in another manner. (a} any notice to
<br />Borrower provided for in this Mortgage shat! Fee given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Harrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested. ro Lender's address stated herein or to
<br />snob other address as Lender map designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender wher. given in the manner designated herein.
<br />25. Ltncform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants far national
<br />u<_e and non-uniform covenants with limited variations bv_ iurisdictinn to constitute a uniform security instrument coverin_¢
<br />real proper.}'. 74tis Mortgage shall be governed by tae taw of the jurisdiction in which the Property is located. In the
<br />ev-enE that any prOVisiot: ar ciauF.t; cf this Mo:~gage er lac Moto canfEicts with applicable late, sucr~. canfiict shall not affoct
<br />other provisions of this Mattgage or the Nate which can be given effect without the conflicting provision, and to this
<br />end the provisions of tae Mortgage and the Note are declared to be severable.
<br />2iS. Borrower's Copy. Horrewer shad be furnished a confernred copy of the Nate and of this Mortgage at the time
<br />of execuron or after recordation hereof.
<br />I7. Transfer of the Property; Assumption. If all ar any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance suiwrdinaee to
<br />tats Mortgage. (h) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the death aE a joint tenant or (d! the grant of any leasehold interest of three years or Tess
<br />not containing an option to purchase, Lender may, at Lender's option, declare iii the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Froperty is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be a[ such rate as Lender
<br />shall request. if Lender has waived the aptian to accelerate provided in tats paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing try Lender. Lender shalt release Borrower fram all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises suck option to accelerate. Lender shall mail Barrower notice of aceeleration in accordance with
<br />paragraph 14 hereof. Such native shall provide a period of not less than 30 da} fram the date the notice is mailed within
<br />watch Borrower may pay the sums declared due. if Borrower faits to pay suc!r sums prior to the expiration of such period,
<br />Lender may, without further notice or demand on Barrower, invoke any remedies permitted by paragraph 18 hereof.
<br />NoH-Ltt~tFOat.t Covetvntvts. Borrower and Lender further covenant and agree as follows:
<br />1(t. Acee4eratian; Remedies. Exccpf as provided in paragraph i7 hereof, upon Borrower's breach of any rovenanf or
<br />agrcemeut of Borrower in this Mortgage, including the covenants to pay when due any sums sYCUred by this Mortgage,
<br />Fender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: t2) the breach;
<br />(2) the action required to cure such breacfi; (3) a date, Dot leas than 30 days from tfie date the rrotice ~ mailed to Borrower,
<br />by which such breach must be cured; and (4} that facture to cure such breach on os before the date specified in the notice
<br />may result in accekratioo of the corns secured by this Mortgage, foreclosure 6y judicial proceeding and sate of the Property,
<br />The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding fife non ^~istense of a default or any other defense of Borrower fo accekration and foreclosure. If the breach
<br />is not cured on or before the date specified in the notice, Lerfder at I.ertder's option may declare alt of the sums secured by
<br />this Mortgage to be immediately due and payable without further demand and may foreclose by jadlcial proceeding. Leader
<br />shall be entitled to collect in sucPo proceeding rtl experises oC foreclosure, including, but riot limited to, costs of documentary
<br />evidence, absttaets and Ntle reports,
<br />19, Borrower's Right to Reinstate. Notwithstanding Lender's acceleratian of the sums secured by this Mortgage.
<br />Borrower shall have the right to have any proceedings begun by [.ender to enforce this Mortgage discontinued at any time
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