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<br />Lender"s wriClen agreemenit err applicable law. Borrower shall pay the arnoun; of al] mortgage insurance premiums un the
<br />manner pr'avidetl under paragraph 2 hereof.
<br />Away ,mar;ants distaursrxl by Lender pus>uant to this paragraph 7. with interest thereon. shall become additionaS.
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to ether terms of payment, such
<br />anteunts shall be pa;able upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from i':te
<br />dale 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 event such amounts shall bear interest at the highest rate
<br />permissible ender applicable law. 1Vothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any actior: hereunder.
<br />8. Inspection. Lender may make ar cause to be made reasonable entries upon and inspections of the Property. provided
<br />that Lender she}} give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lenders
<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 or other taking of the Property, or par, thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a total Faking of fhe Property, the proceeds shall he applied to the sums secured by eats Mortgage.
<br />with the excess, if any, paid to Borrower. Tn tF.e 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 to that propartion which the amount of the sums secured by this hortgage immediately prior to the date of
<br />t .king bears io 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 />1f the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers ro make
<br />an award or settle a claim for damages. Borrower fails ro 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 or to tine 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 2 hereof or change the amount c~f
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums sstired
<br />by this Mortgage granted i,y Lender to an}• successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender 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 />..ecured by this Mortgage by - anon of any demand made by the crixi nal B~:rnwer and Borrower's successors in interes*..
<br />11. Forbearance by Ixnder Nat a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise 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 or other fens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Aortgage.
<br />i2. Remedies Cnmuiative. Al} remedies 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 txx exercised concurrently. independently or successively-
<br />13. Successors and Assigns Bound; joint and Several Liabt7ity; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respecr've successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph }7 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 giver. 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 />(hl any notice to Lender shall he given by certified mail, rehtm receipt requested, to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Ivlortgagc shall tx deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />1~, Uniform'.Flortga};e; t;overnirig Law; Severabflity. This form of mortgage combines uniform covenants for national
<br />use and nor:-unifot?n covenants with limited variations by jurisdiction to constitute a unifortrt security instrument cowering
<br />real proneriy. This Alort_age shall 6e governed by the law of the iursdiction in which the Property it Icxated. In the
<br />event that a-_: provisian i~r (inure of this ;Mortgage -r the Note cont'ricts with :applicable taw, such conn'ict shalt oat atiect
<br />other provisions of this Mortgage nr the Nntc which ~~n 6e given effect without the ~o[!tlietittg prowcion, and to this
<br />end the provisions of the ~inrtgagc and the Note are declared to lac severable.
<br />15. Boesawer's Copy. Harrower shall br_ furnished a confatzned copy of the Notc and of this Mortgage at the time
<br />of execution or after recerdatiun hereof.
<br />1'J. 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 prior written consent. excluding (a) the creation of a Tien or encumhrahce subordinate to
<br />this Ivtortgage, (h) the creation of a purchase money security interest for household appliances. (c) a transfer by devise,
<br />descent or by operation of l:.w upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at Lender'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 such 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 />shall request. if i.e,-+dr has waived the option to acceieratc provided iu this paragraph 17. and if Bet•+irwer's siii.CE`SSar in
<br />interest has execute, a written assumption agreement accepted in writing by Lender, Lender shall release Borrower tram all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option io accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 11 hereof. Such notice shall provide a period of not less than ?0 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. if 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 18 hereof.
<br />Mort-UNtronxfi Covt:N.tnrs. Burrower and Lender further covenunt and agree as follows:
<br />la. Acceleration; fletnedies. Except as provided in paragreph ll hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Mortgage, includirg the covenants to pay when duo any sums secured 6y thls 1ltort>ks>;e,
<br />Leader prior to acceleration shag mail notice to Borrower ss provided in paragraph 14 hereof specifying: (1) the breach;
<br />(2j the action required to cure such breach; {3} a date, not teas than 30 days from the date the notice is mailed to Borrower,
<br />by which such breach must be cured; and (4) that failure to cure such breach nn or before the date specifted in the notke
<br />may remit in acceleratloa of the sum, sneered by this Morigrtge, foreclosure by jadlcial pinccedrrtg and sale of the Property.
<br />'The notice shall iutther inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the ~n-exisieme of a defaui: or any other defense of Boraower to acceleration attd foreci~ure. If the breach
<br />is not cured nn or be#ore the date specified in the notice, Lender at Lender's option may declare all of the sums secured by
<br />ihls Mortgage to 6e immediately tine anti payable without further demand and mi>,y foreclose by judicial proceeding. Lender
<br />shah be eatitied to eoBeet in such proceeding ail expenses of foreclosure, including, but not limited to, costs of documentary
<br />evidence, abslrasta and title reports.
<br />19. Bo-mower's R~*_ to Aet~are, Notwithstanding I tinder's acceleration of the sums secured by this Mortgage,
<br />$orrower shall have the tight to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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