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[ Winder's w.^tken s[greemrut or applicable law. Aorrower sSvall pay the ani~ok::sa of alt, mortgage insuranct: premiu?ras in Ghe
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph "7, with imerest thereon. shall became additional
<br />indebtedness cf Bcrrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of pa, -tern, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting paymenk thereof, and shall hear interest from zhe
<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 event such amounts shall bear interest at the highest ,,*ate
<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. Inspeemion. Lender mac make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to env such inspection specif;•i.^.g reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />3. Condemnation. 'the prcce~ds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation ar 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 />Ir, the event of a total taking of the Property, the proceeds shall be applied [o the sums secured by this Mortgage.
<br />with the excess, if any, paid to Borrower. in the event cf a partial taking cf the Property. unless Borrower and Lender
<br />otherwise agree in writing, there shall tae 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 this Mortgage immediately prior to ttte daze 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 to Borrower.
<br />If the Property is abandoned by Harrower, ar if, after notice by Lender ro Borrower that the condemnor offers to make
<br />an award ar settle a claim far damages. Borrower fails to respond ro 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 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 ?hereof or change the amount -~.
<br />such instalimema
<br />10. Horrosrr Not tieleased. Extension of the time for payment or modification of amortization of the sums scene
<br />by this Mortgage granted t,y Lender tip any successor in interest cf Borrower shalt not olx rate to release, in any moon,:.
<br />the liability of the original Berrmver and Aorrower's successors in interest. fender sl?all not he required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />scenreu' `vs• ihi rvloi,gage ny reason of any demand risau'e by the original Aarrciwer anu' AaTaR"C'P$ 3IIC~ca~ar> i~~ interest.
<br />fllo Forbearance by Ixnder Not a Waiver. Any forbearance h> [.ender in exercising any right or remedy hereunder. or
<br />otherwise afforded by applicahle law, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the pavment of taws or other liens ar charges by Lender shall na[ be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedne<s secured by this's7nrtgagc.
<br />12. Remedies Cumulafire. All remedies provided in this '.Mortgage are d?stinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by taw ar equin•, and may he exercised concurrently. independently or successive{y.
<br />13. Successors and Assigns Bound: Joint and Several i,iabitiQ: 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 />subject to the provisions of paragraph t' hereof. All covenants and agreements of Aorrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are oat to be used to
<br />interpret ar define the provisions hereof.
<br />14, Notice. Except for any notice required under applicable ]aw ro 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 Bcrrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(h) an}' notice to Lender shall be given by certified mail. return receipt requested, to Lender's address stated herein or to
<br />st:ch other address as Lender may designate by notice to Harrower as provided herein. Any notice provided far in this
<br />Mortgage steal: be deemed to have been given to Harrower ar Lender when given in the manner designated hetem.
<br />I5. Gnifornt Mortgage: Governing I.aw; Severability. This farm of mortgage combines uniform covenants far national
<br />use and oar.-uniform covenants with limited variations by jurisdiction to constitute a uriferm securih• instrument covering
<br />real property. This ~•Iortgage shall he governed by the law of the jurisdiction in which the Property is located. In the
<br />event t;.a any provision louse. of this Mortgage or the ;tote conflicts wish applicable law, such ca diet shalt not a¢vcz
<br />other nrovisions of this Mortea¢e or the Note which can he eiven eRect without the canflic[ine provision. and to this
<br />end the provisions of the Riorigage and the Note are declared to he severable. `
<br />IG. Ftorrawer`s Copy. Borrower shall 6e furnished a conformed copy of the Nate and of this Mortgage at the time
<br />of execution or after rerordatiun hereof.
<br />17. Transfer of the Property: Assumption. If ail ar any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written conxnt, excluding (a) the creation of a lien or encumbrance sulwrdinate to
<br />this Mortgage. (b) the creation of a purchase money security interest for household appiiaaces, (cl a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or td? the grant of any leasehold interest of three years ar les_c
<br />flat containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this 1\lortgage to bt
<br />immediately due and payable. Lender shad have waived such option n, accciera[e if, prior to the sale or transfer. [.ender
<br />anJ 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 cn the sums secured by this Morkgage shall be ak such rate as Lender
<br />she]! request. If I Nndtr ltas waived the option to accelerate provided in this paaragraph l?, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, -.cnder shall release Borrower from all
<br />obligations under this Mortgage and the Note,
<br />if Lender exercises such aptinn to accelerate, 1_endcr shall mail Botrowcr notice aF acceleration in accordance with
<br />paragraph 14 hereof. Such native shall provide a period of not less than ?0 days from the date the native is mailed within
<br />which Borrower may pay the sums declared due. It Harrower 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 />CJOiv-UxtFO:t~s CoveN,t to 's. Harrower and Lender Further cavenam and agree as Foilaws:
<br />18. Acceleration; Reatedles. Except as provided in pst•agrsph t? hereof, upon Borrower's breach of any covenant or
<br />agreement. of Borrower in ihks Mtortgage, including the covenants to pay when due any sums secured by thks Mortgage,
<br />Leader prior to acceleration shall mat! twtice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach;
<br />i2) the action regoired to cure such breach, (3I a date, cwt lei than 34 days from the date the rwtice is mailed to Borrewer,
<br />by which such breach mus4 be cured; and (a) that failure to cure such breach on or before the date specl8ed in the notice
<br />may result in acceleration trf the sums secured by this Mortgage, foreclosure 6y jndicial proceedirtg and sale of the Property.
<br />The notice shall further inform Borrowe- of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />ds not coned on or before the date speciRed 3n the notice, Lender at Lender's option may declare all of the sums secured by
<br />this Mo~~oe to be immediately due and payable without further demand and may foreclose by judicial proceedtog. Leader
<br />shall be emitted to collect in stteh proceeding all expenses of foreclosure, including, but not limited to, costs of documentary
<br />ertdence, abstracts amt title reports.
<br />19. Borrower's Right to Reinstate. Notwithstanding bender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce this Rortgage discontinued at any time
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