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<br />r ;nr:!rsr'° 9 :~'± re. urrtent o: npphcavle law. Br;~-rowor s°aall pray t1t ,~~,. ~tr2 of a1D ,~rcr~irtg,~a;ga irsurari:~ prmiams 'uui the
<br />naanner pC~~~~~sd~°d uttdAtr paragraph 2 hereof.
<br />Any att'tounts dLshursed by Lender purztutnz fr,> 2his paragraph 7, wi'C;: snteres~~t ther;~;;n. sha31 becrme aeiditiaztal
<br />*.stdcbtedttas=_ of Borrower secured by this :Mortgage. Unless Barro'~•er and I ender agrt:e to other tem;s of payment, such
<br />amount. shai2 be payable upon notice front Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement az the rate payable from lime to Lime an outstanding arincpat under the Note unless paymen*- of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shat! bear interest at the 1-~ghest 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. 7nspectiar,. Lender may make or cause to be made reasonable err es upon and inspeczians of the Propert}•. pravided
<br />that Lender shall give Harrower notice prior to arty such inspection specfying reasonable cause therefor cola*.ed to I-ender'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 ar other taking of the Property, or part thereof, or for conveyance ip lieu of condemnation, are hereby assigned
<br />and shall he paid to Lender.
<br />In the event of a total taking of the Property. the proceeds shall be applied to rite sums secured by this Mortgage.
<br />whit the excess. if any. paid io Borrower. In the event of a partial taking cif 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 />taking 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 />Tf the Property is abandoned by Borrower, or if, after notice by Lender to Borcower that the condemnor offers fo make
<br />an award or settle a claim for damages, $orrower fails to respond to Lender 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 ar ro 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 or change the amount of
<br />such installments.
<br />L0. Borrower Nat Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borcower shall not operate to release, in any manner,
<br />the liability of the original Borrawer and Borrower's successors in interest. Tender shalt not ba required to commence
<br />proceedings against such successor ar refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this 5ir•~gage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />II. Forbearance by Lender Nat a R[aiver. Any forbearance by Lender in exercising any right or 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 procurement of insurance or the payment of taxes or other liens or charges by Lender shall not rte a waiver of Lender's
<br />tight to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. Aii remedies provided in this Mortgage are distinct and cumtaative to any other right or
<br />remedy' under this Mortgage or afforded icy law ar equity, and may rte exercised concurrently, independently or successively.
<br />I?. Snecegsors and Assigns Bound; Joint and Several l.iablity; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shalt inure to, the respective succe,~ors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph I7 hereof. All covenants and agreements of Borrower shall he joint and severah
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provsions hereof.
<br />14. Nonce. Except for any notice reyvired under applicable Iaw to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or of sucFi ether address as Borrower may designate by notice to Lender as provided herein. and
<br />(h) any notice to Lender shall be given by certifieu mail, return receipt requested, to 1_cnder's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Anv notice provided for in this
<br />Mortgage shall he deemed to have been given to Borrawer or I-ender when given in the manner designated ht:rein.
<br />IS. Uniform Riarigage; Governing Law; Sexerabllity. Tfiis form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. "chi.=. Mortgage shall be governed by the law of the jurisdiction in which the Property is la:ate~. In the
<br />went that env provision or ciao=_~ of thic C.fatigage or the Nnte ca nflicis with app!icatvle Iaw, such canfliet shalt not affect
<br />other provisions of this Mrrtgage or the date which can be given effect without the conflicting provision, and ro this
<br />end ' -G provisions -- : -,gig,= a,.- 'she Nc=tc', ate dcdiired io be Severable.
<br />~I'r. °~rrower's C~•y.F~rro°xer~i;all be ftsrnisheci a canfcus.ed copy c; the ',aatr acrd of ibis Llorigaa at the titer;
<br />of execution or otter retardation hereof.
<br />t7. Transfer of the Profieriy; Assumption. tt all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender`s prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Martgage, (b) the creation of a purchase money security interest for household appliances. (c) a transfer by deviu.
<br />descent or by operation of taw upon the death of a faint tenant or (d) the grant of any leasehold interest of three nears or less
<br />not containing an optimt a~ purchase, Lender may, at Lender's option, declare ail the sums secured by this Mortgage to be
<br />immediately due and payable. I ender shall have waived such option to accelerate if, prior to the sate x transfer, Lender
<br />and the person to whom [he Pmpert}' is to be sold ar transferred reach agreement in writing that the credit of such person
<br />is satisfactory to bender and that the interest payable on the stints secured by this Mortgage shall be at such rate as Lender
<br />shalt request. If Lender has watv_d the option zo accelerate provided in this paragraph 17, and if Borrower's succekar in
<br />interest has executed a written assumption agreement accepttd in writing by Lender, Lender shall release Borrower from ail
<br />obligations under this Mortgage and tfie Nate.
<br />If Lender exercises such optiar to accelerate. Lender shall mail Borrower naticc of acceleration in accordartcc wieh
<br />paragraph l4 hereof. Such notice shalt provide a period of not Icss than ?0 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. It Borrower fails to pay such sums prior to the expiration of such period,
<br />Lender may, without further nonce ar demand on Borrower, invoke any remedies permitted h}' paragraph 18 hereof.
<br />mots-Ui:;irCirc,'i t'uv~rsAty zs. Borrawer and Lender further covenant attd agree as tolkrvs:
<br />It?. Acceletottii:n; I~emedirr. ?Vxrept ~ provided in paragraph I? hereof. neon Borrower's breach of any cavenani ar
<br />agreement of 1arrower in thh Mortgage, including the covenants to pay when due any sums secured by this Mortgage,
<br />Lender prior to acceleration shall matt rmtiee to Harrower as pravided in paragraph 14 hereof specifying: (i) the breach
<br />d~) the action required to cure such breach; t3) a date, not less than 30 days from the date the rrotice is mailed to Borrower,
<br />by vrhich such breach must be cored: and (4) Hutt failure to cure such breach on or before the date specified in the aotlce
<br />may result in acceleration of the sums secured by this Motgage, foreclosure by judicial proceeding and sale of the Property.
<br />Tht notice shall ftrrthet inform Borrower of the right to reinstate aNtr acceleration and the right to assert in dhe foreclosure
<br />proceedi~ the non-existence of a default or any oHter defense of Borrawer to areelerattou and foreclosure. II the breach
<br />"ss not cured on or before tine date specified is the notice, Ixnder at Lender's option may declare all of the sums secured by
<br />!h~ Mortgage to be immediately doe acrd payabk without further demand and may foreclose by jndtcial proceedlttg. Lender
<br />shall be entitled to coliee4 in snob proceeding ail expenses of foreclosure, including, but not Limited to, costs ~f documentary
<br />evidence, abstracts and titCe reporffi.
<br />19. Borrowerss Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have any proceedings begun by Linder to enforce this Mortgage discontinued at any time
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