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<br />Lr_nt?~.r"s written agreerrnent or z~t~pp~lic.a.ble la;v, Ba,rrrs~i~~wer ~~sb.tuill pay th~ie amrriumts f tali tnoirtgage insuarance: pranniurns ii n: thf,
<br />manner provided under paragragph 2 i!iwreof.
<br />any amounts disbursed 'b}~ ~Le~~nder purstsa~~at ~iuo this~~ para.grapih T, sr'uth interest r.hrr~eon, s3naV1 b~s~~cc:une addi~,tional
<br />indebtedness of 3crrewer secured b}• the Motgage. Ltnless Borrower and Lender agrrx to other terms cf pa};rtent. such
<br />amot:nts shahre payable aeon notice from Lender to Borrower requesting payment thereof. and shall Fxar interest from the
<br />date of disbursement at the rata payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such :ate wouhi be contran to applicable law, in which event such amounts shall bear interest at the highest 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. Inspection. Lender may make or cause to be made reasonable entries upon anal inspections of the Property, provided
<br />that Lender shall give Borrower notice priar to any such inspection specifying reasonable cause therefor related tc Leader's
<br />interest in the Property.
<br />q. Condemnation. The proceeds of am• award or claim for damages, dirr_ct or consequential, in connection with anv
<br />condemnation or other taking of the Property, or part thereof. or for conveyance in lice of condemnation, are hereb7 assigned
<br />and shalt be paid to Lender.
<br />In the event of a fetal taking of the Property. the proceeds shall ce applied to the sums secured by this Mortgage.
<br />with the excess. if any, paid to Borrower. In the event rf a partial taking of the Proparrv, tmless 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 tbis 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 Yo Borrower.
<br />if the Property is abandoned by Borrower, or if, after notice by Lender 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 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 the sums secured by this Mortgage.
<br />Unless Tender 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 I and Z hereof or change the amount ~'
<br />such installments.
<br />30. Borrower '.Vol Released. Extension of the time for payment or modification of amortization of the sums sec~.:°cd
<br />by tF.is Mortgage e anted by Lender to any 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 />rmceedings agains4 such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Rinrtgage by reason of anY demand made by the original Borrower and Borrower's successors in interest.
<br />1 i. a<oroearance by Lender Not a Waiver. Any forbearance h}' Lender in exercisin¢ any right or remedy hereunder, ar
<br />otherwise afforded by applicable law, shalt not he a waiver of or preclude the exercise of any such right or remedy.
<br />The prxurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Rernedies Cumulative. Alt remedies provided in this Mortgage are disr-ct and cumulative to any other right or
<br />remed}~ under this Mortgage or afforded by law or equity, and may he exercised concurrently. independently or successively.
<br />33. Snccessars and Assigns Bound; Joint and Several f.iab7ity; 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 />SUlTjeet to the prosisions of paragraph t? hereof. All covenants and agreements of Borrower shall t>r 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 daflne the provisions hereof.
<br />i4. Notice. Except far any notice required under applicable law to be given in another manner, {a) any notice Ta
<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 mac designate by notice to lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested. to Lender's address stated herein or to
<br />such other address as Lender may designate F+y notice to f3,irmwer as provided herein. Any nonce provided for in this
<br />Mn.~gage shall l;e d.~med to It~,° bcen given to Bc;rrcwer cr Lender when given i- the t:anr:er designated herein
<br />i5. Uniform !4fortgage; Governing Law; Seccrabllih•. This term of mortgage combines uniform covenants for national
<br />use and nor.-uniform covenants with limited variations by jurisdiction 2n cnnstiwte a uniform security instrument rnvenng
<br />real proxrty. This Mortgage shall be goverved by the law of the jursdictittn in wwl5iclt the Property is located. In the
<br />event that any t=rovision ^ ~)au~ ^` this '!•uo;-taa~e o the `^re cenFirts with .~ t:^~z•t= lra~, st;.-1; ks~-;:ftivt shall r.^t affect
<br />_. a ~r y.,,~a...~ _
<br />other previsions of this Mortg:tgi: or the Note which can be given effect without the conflicting provision. and to this
<br />end the provisions of th:: Mc>-sEabe one' :he ~inte are declared to i}c severable.
<br />`~v-.~t,-~=>•`.cLit, uvr~:,w~>:r shall' he ittrrishea' a contot;ttzd ropy of ihr Notc anu of cots iviortgage at file tin22
<br />of exceution or after recordation hereof.
<br />1T. Transfer of the Property; Assamp6on. If all or any part of the Propem~ or an interes*, therein is sold or transftrred
<br />by Borrower without Lenders prior written consent, excluding (a) the creation of a lien or encumbrance sulwrdinate to
<br />this Mortgage, tb) 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 ioint tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an nption to purchase, Lender may, at Lender's option, declare al! 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 nn the sums secured b}• this lstortgage shall be at such rate as Lender
<br />she}! request, if Lender has waived the nption to accelerate provided in this paragraph IT, and if Borrower's successor ;n
<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 shall mail Borrower notice of acceleration in accordavcc wish
<br />paragraph i4 hereof. Such notice sha31 provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pa; 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 />;:rr:=:-t;r~t~ ;rte: ii;.F:;af,;tti:s. Bcmower and Lenda.r further covenant and agree as [oiiows:
<br />i$. Accelertdian; Retnedie`w >~xcept as pr~videdrn paragraph iT hereof. upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Mortgage, including the covenants eta pay when dot any sums secured by this Mortgage,
<br />Lender priar to acceleration shag mail no#3ce to Harrower as provided in paragraph 14 hereof specifyi~: (!) the breach;
<br />(2} the aelian required to cure such breach; (3) a date, not lei then 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 specified in the nolice
<br />may result in acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property.
<br />The notice shag further inform Bosrawer of the r~ht to reinstate after acceleratbn and the right to assert in the forrciosure
<br />prxrceedhrg the non-existence of a default er any other defense of Borrower to acceleration and foreclosure. R the breach
<br />is not cored on or before the date specified in the rrotice, Lender at Lerder's option may declare ail of the sums secured by
<br />this Mortgage !o be immediately due and payable without fnriher demand and may foreclose 6y judicial proceeding. Lender
<br />shall be entitled to collect im such proceeding aB expenses of forecio:ure, ineludlog, but not limited to, costs of documentary
<br />evidence, abstracts a~ title reports.
<br />14. Boerower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
<br />Borrower shall have 4he right to have any proceedings Gegun by Lender to enforce this Mortgage discontinued at any time
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