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<br />Lendetrs written[ a~ureemant e>r app2ic:ebte lain. Borrow•e:~ shall pay the amount of all mortgage insurance prernuitrmis in the
<br />mann~i.r pYovidi;d t~onder Ip~aragraph 7 hereof.
<br />~h,ny amaurt=i s,iisbter:aetl by Lender pursuant to title paragraph 7, with interest ttue;rton, shalt become add't4ianal
<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 fmm the
<br />date 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 ever.[ such amounts shall hear imtrest at the highest rate
<br />prrmissibie under apptitabte law. Nothing contained in this paragraph ?shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection, i_ender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender she}] give Borrower notice p,-ior to any such inspection specifying reasonable cause therefor re}ated to Lender's
<br />interest in the Property.
<br />~. Ccrd°.mna*,lon. The proceeds of any award nr claim for damages. direct or consequential, in connection with any
<br />tondemnatior, or other taking of the Property. or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a to±al taking of the Property. the proceeds shall be applied to the sums secured by this Motgage.
<br />with the excess. if any, paid fo 8orower. 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 io 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 vah+e 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 nonce by Leader to Borrower that the condemnor often to make
<br />an award or settle a claim for damages, Borrower fails to rest nd to Lender within 30 days after the date such notice is
<br />mailed, i_ender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property 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 ectea::
<br />or postpone the due date ^t the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower !ini Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Leader to any successor in interest of Borrower shall not operate to release, ir. any manner,
<br />the li:hility of the original Borrower and Bormwer's successars in interest. Lender shall not he required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amartizatior. of the sums
<br />,..cured I:•y th; *:arigagc `v -' .f v demand ~:ade .`,_ .~~ -°1 Horrower and Harrowers successors in interest.
<br />11. Forbearanee by L,endtr Not a Waiver. Any forbearance by~Lender in exercising any right or remedy hereunder, er
<br />athenHise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes nr ether liens or charges by Lender shall not be a waiver of Lenders
<br />right to accelerate the maturity of the indehiedneas secure? t,}• this Ai~*~g~g~•.
<br />12. Remedies Cumulative. All remedies provided in this '<tartgage arc distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may t+c exercises concurrently. independently or successively.
<br />13. Successors and Assigns Bound; Joint aad Several f.iaM'lity; Captions. The covenants and agreements herein
<br />contained shall hind, and the rights hereunder shall inure to, the respective successars and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 1? hereof. All covenants and agreements of Borrower shaii be joint and severe;.
<br />The captions and headings of the paragraphs of this Mortgage are for conventence only and are not to 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. ta) any notice m
<br />Harrower provided for in this Mortgage shall 6e given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate 6y notice ±o Lender as provided herein, and
<br />(b7 any notice to Lender shall he given by certified mail return receipt requested, to Lender's address stated herein ar to
<br />such ether address as Lender may designate by notice to Borrower as provided herein. Anv notice provided `~r in this
<br />Mortgage shaii ix: deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Ltnifatm Morlga„r; (:ovrrning Law; Severa6lh'ty. This form of mortgage combines uniform covenants for national
<br />..,. pan-uniform tav;;nants •ri'h limited variations by jurisdiC!ian to Cc:nsti!!tt a niferm s=3turt*.v instr!rment covering
<br />yr°at~praperiv- This tainrtgage shall be gavcrnrd 1?y the law of the jurisalittinn in which the Property i. lxated. In the
<br />event that env prevision ar clause of this ivlortgage or tine Note c•?npiiets with applieabtc taw, such tonirict si,aii not aiteti
<br />.art,.., .,~:.~.~~:,_.~~ .,r this xrnn.,~oa ~~ :he nt_,rr ,.,t,:eh ta:t be given tffett w•itha,;e ,}.t .•~„d;tt.ng prov;sion, and to th:s
<br />end the orovisians of the Mortgage and the Nnte are declared to be severable. -
<br />i€. Barrowtrs Copy. Borrower shall be furnished a conformed copy of the Nate and of this Mortgage at the time
<br />of execution or after retardation hereof.
<br />17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prier written consent, excluding (al the creation of a lien or entumhrance subordinate to
<br />this Mortgage, (b? 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 of a joint tenant or (di the grant cif any leasehold interest of three years ar less
<br />not containing an option [n purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to br
<br />immediately due and payable. Lender shaii have waived setch option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to wham the Property is to be sold ar transferred reach agreement in writing that the credit of suet[ pe neon
<br />is satisfactary• to Lender :and that the interest payable an the sums secured by this Mortgage shall be at such rate as Lender
<br />shaii request. if i.ender has waive3 the option to accelerate provided in this paragraph t?, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Leader shall mail Borrower notice of acceleration in accordance with
<br />paragraph 1.7 hereof. Such notice shall provide a period of oat less than 30 days From the date the notice is mated within
<br />which Borrower enay pay the sums declared due. If Borzower fails to pay such sums prier to the expiration of such period,
<br />Lender may, without further notice or demand on Harrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Nux-UtvtFOant Covart,sNrs. Harrower and Lender further covenant and agree as follows:
<br />i&. Acceleration; Remedres. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage,
<br />Lender prior eo acceleration shall mail notice fo Borrower as provided is paragraph 14 hereof specifying: (1) the breach;
<br />(3) the action rtquirtd to cure such breach; (3) a date, not less [ban 3o days from the date the notice is mailed to Borrower,
<br />by width suck breach mast 6e cored; and (4) that failure to cure such breach on or before [tee date specified in the notice
<br />may nosed[ in acceleration of the softie seeured by th'es Mortgage, foreclosure by judicial proceedi~ and sail of the Property.
<br />Tht notice shall further inform Borrower of the right fo reinsintt after acceleration and the right to assert ie the foreclosure
<br />proceeding the non-existence of a default or any other defer.YSe of Borrower to acceleration and foreclosure. If tbt breach
<br />is toot cured on or before the date specified in the notice, Louder at Ixnder's option may declare all of the sums secured by
<br />this Mortgage to be immediately due and payable without further aemand and may foreclose by judicial Proceeding. Lender
<br />shat! 6e entitled to collate in such proceeding all expenses o[ foreclmure, includbrg, but not limited to, costs of documentary
<br />tv~tnce, a.`•°.trarts art title :e~rts.
<br />1~. imu,iv,iee'a R;g3st io R-- °,e. Nat•;vithstanding Lenders acceleration of the sums secured by this Mortgage,
<br />Borro::=tr she.+l have the right to have any pr~:trdings begun by Lender to enforce this Mortgage discontinued at any time
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