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<br />L:eiacl~ ~,~ s r rr*.teti .,. i;rr, i~„,ritr.~nil. r€. a;i~m~liicraible Iau~,. Bor; o,~ er sha~9l pa,w• <nc~, ar..~~~:u€ pf all rrtorr~~a.ge i~rs..nuirat,z°e prentii usa~~u;s rt; t:n~e
<br />nua~usn=e€r;ra"~ovide~~iil turtd~r~s, I~ar~~rag;r~zupdt 2 heret>G~.
<br />.?r+ .~urocir¢€ti d'tls~~~T,voir~uett {irv L:rnieder p~u~rx~t.ant tCO tkiis parap~,{r'aIP~Bu 7. wiiith int~+rre=€t irah~eruort, r.hia~lfl @3a=t:en.,; audd~utia~naa
<br />irde~•edn+•ss cf I3_~rro~.~zr szcured by thus I~fortgagr- Iinless Borre•:;er and Lender ogre tc oihzr terms of paymenT, such
<br />amo.tnts snail be payable upna notice from Lender to Borrower requesting paym~,tt thereof. and shall bear interest from the
<br />date of disbursemznt at the rate payable from time to time on ouzstaading principal under the Note unless paymtnt of
<br />interest st such rate would I:e coairan• to applicable law, in which event such amounts shall bear interest at the highest rate
<br />pem-:issihle under applicable law. tiothing contained in this paragraph ?shall squire Lander to incur any expense or take
<br />any action hereunder.
<br />8. tnspertvon. I_endzr may make ur cause to he made .*easonab!e entries upon and inspections of the Propert}•, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying masanable cattsz therefor related to I_ecders
<br />interest in the Property.
<br />0. Condemtratlon. The proceeds of any award or claim for damages. direct or consequential. in connection with any
<br />candzmnatipn or other taxing of the Property, or part thereof, or for convzyance in lieu pf condemnation, are nerehv assigned
<br />and shall he paid to Lender.
<br />Tn the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage.
<br />+~ith 'he excess, if any, paid tc Borrower. In the event of a partial taking of the Propzrt}'. unt°ss Borrower and Lender
<br />otherwise agree in writing. there snail be applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proponion which the amount of the sums secured 6y 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 m Borrower.
<br />If the Property is abandoned by Borrower. or if. after notice by I-ender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 dace 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 />Properly or to the sums secured 6y this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing. an}' such application of proceeds to principal shall not ec-.;cud
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and ?hereof or change the amount of
<br />such instaltmert=
<br />10. 8orro~Yer Not l:eleased. Extension of the time for paymera or modification of zmnrtization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the or,'ginal Borrower and Borrower's successors in interest. Lender shalt 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 illortgaEe by reason of any demand made by the orioinai Bnrrnwrr and Borrower's s--_ e«ors ;n inreresr,
<br />tl. Forbearance by Lender Not a R'aiver. Any forbearancz by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded try applicable taw, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The pra:urement of insurance or the payment of taxes or other liens or charges hs• Lender shall not be a waiver pf Ixnder's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. Ali remed;'as 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 concurrently. indzpendently or succcssiyely.
<br />t3. Successors and Assigns Bonnd; Joint and Several Liability; Captions. 7tte covenants and agreements herein
<br />contained shall bind, and the tights hereunder shalt inure to, the respective successors and assigns of Lender and Borrower.
<br />subject io the provisions of paragraph 17 hereof. All covenants and agreements of Borrower 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 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 at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />{b) any notice tp tender shall be given by certified mail, return receipt requesteG, to Lender's address stated herein or to
<br />such other address as Lender may designate by n_oticc to Borrower as provided herein. Any notice provided for in this
<br />Mortgage sfisli be deetned to have been given to Borrower er 1-ender when given in the manner designated herein.
<br />25. Uniform Mortgage; ~avertting Law; SeveraM'lity. This form of mortgage combines uniform covenants for national
<br />use and pan-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Marigage shall be governed by the law of the jurisdiction in which the Property is located- In the
<br />evanT Thar any -•isir_.- ~ .___? cf this ~crtgage or rite Zote cor:°i::ts ::=fth appiieaclz law. st:ch send:- .,ail not at:ec:
<br />other provisions of this Ivfortgage or the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions pt the Mortgage and the Noie are declared to be severable.
<br />Id. norrower's Copy. Borrower shall 1>e furnished a conformed copy of the Note and of this Mortgage ai the time
<br />of execution or after recordation hereof.
<br />t7. Transfer of the Property; Assumption. tf ail or any part of the Property or an interest therein is sold or transfetted
<br />by Borrower without Lendei 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 oppration of law upon the death of a ioim tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option to purchase. Lender may, at Lendei s option. declare all 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 Property is to be sold or transferred reach agreement in writing that the credit of su::n person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />snail request. If Lender has waived the option io accelerate provided in this paragraph t7, 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. Lender shalt mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date thz 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 notice or demand on Borrower, invoke any remedies permitted by paragraph IS hereof.
<br />ivory-UNtrottt~t Coy~runtvrs. Borrower and Lender further covenant and agree as follows:
<br />Ig. Arreterattoa; Remedies. ixrept as provided in paragraph i7 hereof, upon Borrowers breach of any covenant or
<br />agreemeut of Borrowee in this Mortgage, includirrg the covenants to pay when due any sums secured by this Mortgage,
<br />Leader prior to acceleration shall mail notice to Borrower as provided in paragraph t4 hereof specifying: (t) the breach;
<br />(2} the cction required to cure such breach; {3) a date, not lei than 30 days from the date the notice is mailed to Borrower,
<br />by which sneh brracn must be cured; and {q) that faDiure !o cure such breach on or before the date specified in the notice
<br />may result in acceleration of the sums sec.-red try this Mortgage, famlosare by judicial proceeditag and sale of the Property.
<br />The notice shall farther inform Borrower of the right to reinstate after acceleration and the fight to assert in the foreclosure
<br />@trceeedu~ the nee-exisfeuce of a defaalt or nay other defense of Borrower to acceleration and foreclosure. If tbe breach
<br />is not cared on or before the date specified in the notice, Lender at Leader's optan may declare aB of the sums secured by
<br />tics Mortgage to be immediately due and payable without further demand and may foreclose by judicial proceeding. Leader
<br />shall be entitled to collect in sneh proceeding all expenses of foreclosure, including, but not limited to, costs of documentary
<br />evidence, abstracts amt title reports.
<br />1~. ]Borrower's R~bt to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br />Borrower shall have the tight to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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