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<br />Lender s' +a~ritten agrt~ument or applicable laaot. Brrrrou+tr shall pay She ~~amra~anL of alll mortgage insurance premit!.ttts in u.h~.
<br />moppet pre,'.°ided under paragraph 2 hereof.
<br />Any amounts disbursed by Lerdar pursuant to ?hrs paragrapl; 7. vw~@th interest thereon. shall bccotnt additional
<br />indebtedness of P,orrawer secured by this Mor•_gage. Ctniess Harrower and ixnder agree to oihtr ?arm=_ of prvment, such
<br />amatants shall be payable upon notice from Londe; to Borrower requesting payment thereof. and shah bear interest from the
<br />date of disbtt;sement at the rate payable from time Ta time on outstanding prncipal under the Note unless paymtnt of
<br />interest at such rate would ba contrary to applicable law, in which event such amounts shat; bear interst at the highest rate
<br />petm(ssibie under applicable law. Nothing contained ir. this paragraph 7 sha!i require Lender to incur any expense or take
<br />any action hetettndtr.
<br />S. fnspeetion. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shat( give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interes? in the Property.
<br />4. Condemnation. The proceeds of any award or claim far damages, direct or consequential. in connection with any
<br />condemnation ar other taking of the Property, or part thereat, or far conveyance in !ieu of condemnation. are hereby assigned
<br />and shall S2 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 the event of a partial taking of the Property. unless Borrower and Lender
<br />otherwise agree in wrong, [here shall be applied to the sums secured by this Mortga¢e 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 [he Property immediate)}• prior to the date of takin_e. with the balance of the proceeds
<br />paid tc Borrower.
<br />if the Property is abandoned by 8orro•.vcr. ar if, after notice by Lender to Borrower that the condemnor offers to make
<br />an av.ard ar settle a claim far damages, 8ermwer faits to respond to Lender within 3~ days after the date such notice is
<br />mailed, Lender is authorized to collect and app(}- the proceeds, at Lender's option, either to restaraeion or repair of the
<br />Property or ?a the sums secured by this Mortgage.
<br />Unless Lender and Borrewr_r otherwise agree in writing, any such application of proceeds to principal shall pat extend
<br />or postpone the due dare of the monthly installments referred to in paragraphs t and 2 hereof or change the amarr~? of
<br />such installments.
<br />10. Burro per Not Beieased. Extersian of the time tar paymtnt or modification of amortization of the sums secured
<br />by this Mortga~: granted by Lender to any successor in interest of Borrower shall pat operate to release, in any manner,
<br />the iiabilit~• of tl;e original Borrower and Borrower's successors in interest. Lender snatI not be required m commence
<br />proceedings against such successor ar refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured'oy ?his Met*:gag'; by reason of any demand made by the original Borrower and Borrowers successors in inttresi.
<br />I1. )rorbearance by Lender Not a Waiver, .Any forl,earance by Lender in exercising any ri¢ht or remedy hereunder, or
<br />;otherwise afforded 6y applicable law, shall not be a waiver of or preclude the exercise of any such rghi or remedy.
<br />?'he procurement of insurance or the payment of taxes or other liens or charges 6y Lender shall pat be a +raiver 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 wsiinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Successors and Assigns Bound; Soint and Several l.iabr7ity; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br />sutrject to the provisions of paragraph I', hereof. Ali covenants and agreements of Bon~ower shall be joint and several.
<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 provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to he given in another manner, (a) any notice to
<br />Bottewer provided for in this Mortgage shat! be given by mailing such notice by certifed mail addressed to Borrower at
<br />the Property Address ar at such other address as Harrower may designate by notice eo Lender as provided herein, and
<br />(b) any notice to Lender shalt be given 6y certified mail, return receipt requested, to Lender's address stand herein or to
<br />such tither address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed Yo have been given to Borrower or Lender when given in [he manner designated herein.
<br />15. Uniform Mortgage; ~iverning Law; Severab€lity. This form of mortgage comhints uniform covenants for national
<br />lice and pan-uniform CaVenar,;i 1Viiit limited varia#ians by jurisdiction to Cans#ittt#2 a llriif3rm ~eCiirirY inSlRimeni cavertng
<br />real property. This hfartgage shall lx governed by the law of the iursdiction in which the Property is lucatti. In the
<br />event that any provision ar clause. of this Mortgage or the Nate can8icts with applicable law°, such conflict shall net afTect
<br />ottYt=r r2r"avisieir;+ ~,f ti;is ^~-- rv3,~`~~e r?r the is r,te which Can be ~iv~n effect without the conflicting ~rvvi3i.-*n, atsd to obis
<br />-end the previsicrs of the'artgage and the Note are dtclared to F>t severable.
<br />1$. Bortnwer's Copy. Borrower shall be furnished a conformed copy of the Nete and of this Mortgage a[ the time
<br />of exeeutian or after n,cordation hereof.
<br />17. TrensEer of the Property; Assumption. If ail or any part of the Property or an interest therein is sold or transftrr~d
<br />by Horrawer without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance 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 (d) the grant of any leasehold interest of three years or less
<br />pat containing an option to purchase. Linder may, at tender's option, declare a!1 the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to acecitrate if, prior to the sale or transfer. Lender
<br />and the person to wham tht Property is to ne Bald ar transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable an the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request. if Lender has waived the option to accelerate provided in this paragraph I7, 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 tht Note.
<br />If Lendu exercises such option Ya accelerate, Lender shall mail Borrower police of acceleration in accordance with
<br />paragraph I4 hereut. Such notice shall provide a perod of not less than 3t) days from the date the notice is mailed within
<br />which 8orrawer may pay tht sums declared due. If Borrower tails to pay such sums prior to the expiration of such period,
<br />Lender may. witltou# fitrtlter notice ar demand on Barrawer, invoke any remedies permitted by paragraph 18 hereof.
<br />Nnt+-L??t!frrq+t Cev> !•!x!~Ts. Barrawer and Lender further covenant and agree as follows:
<br />IB. Acctieratioa; Rrmedies. Except as provided in paragraph 17 hereof, upon $orrower's breach of any covenant or
<br />~rce-meat of llonawtr €n this Martg~t, including for covenants to pay wbtn dot any saner ucured by this Mortgagt,
<br />Lstt,der prior to ~cekratie>n shall mad notice fa Borrowtr as provided in paragraph 14 hereof specifying: (I) the 6rtach;
<br />(2) tine action required to care sash breach; (3) a date, aot less than 30 days from the date the notice b mailed to Borrowtr,
<br />by ~kh such breach atust ire cured; and (4) that fa$vre to cure such breach oa or before fix daft species in the notikc
<br />way rantit in acceleration of rice sums secured by this Mortgage, foreclosure by jndiciai proceed"rug and sate of tbt Property.
<br />The rroihlee shag further bsform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />ptoceediug the non-existenrt of a deftolt or any other defense of Borrower to ~cekration and foreclosure. If tht brcac6
<br />is not cored on or before the date specified is the notice, Lender at Lender's rption may declare all of the sums secured by
<br />tlr~ Mottga;e Gr fie immediately doe gad payable without further demand and may foreclose by judicial proeesdir!g. Lender
<br />shall be ra(il)ed to cosec( in such proceeding aB expenses of foreclosure, induding, but not lim+aed to, costs of documentary
<br />eviaieace, aitsir•acia gad tide reports.
<br />i`i. i3orrowe>;s Rlg'at #o iteirrttate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Bor'row`er -shall have the right to have. an y proceedings began by Lender to enforce Phis h4artgage discontinut:d at any time
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