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<br />Lender"s ++ti•riitrn ~~mgr[itmcnt or applicable ]aw. Boorrower shall pay file amzriisnN, of all ntortgag,e insuran~cr. premfiums in ihr,
<br />manner pduvide~ti under paragraph 2 hereof.
<br />Any amounts disbursed t;y Lender pursuarf io this paragraph 7, with ;merest thereon, shalt become additional
<br />indebtedness of Borrower sew red by this Mortgage. Untess Borrower and Lender agree to other terms of payment. Bach
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shalt !sear interest from the
<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 tale would be contrary to applicable law, in which event such amounts shall bear interest at the highest -ate
<br />permissibtr under applicable law. Nothing contained in this paragraph 7 shalt require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Lender may make or cause to he made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior io any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or c~nsequentiah in connection with any
<br />condemnation er other taking of the Property, ur part thereof, ur for commance in lieu of condemnation, are bomb}• assigned
<br />and shat! be paid to Lender.
<br />In the event of a tot21 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. Ln the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall br applied to the sums secured by this Mortgage such proportion of the p-oceeds
<br />as is equal to that proportion which the amoutrt of the sums secured by this Dortgage imm^_diately prior to the date of
<br />taking bears to the fair market valor of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />if 4he 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 />Propery 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 daft of the monthh~ installments referred to in paragraphs 1 and ?hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released, Extension of the time for payment or medificatien of amortization of tt:e 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 original Burrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against ;uch successor or refuse to extend time for paymenE cr otherwise modify amortization of the sums
<br />secured by this Is:crt2age by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />ll. Forbearance by Ixnder Nnt a Waiver. Any forbearance by Lender in exercising an} right or remedy hereunder, er
<br />otherwise a$orded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />Thr orocuremert of insurance or the payment of taxes or other liens or charges by Lender shalt not be a waiver of Lender's
<br />right ie accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy tinder this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or successively.
<br />13. Successors and .4ssigns Bound; Joint and Several Liability; 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 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 nor ro be used to
<br />interpret or define the provisions hereof.
<br />24, Notice. Except for any notice required under applicable law to be given in another manner. (aI any notice to
<br />Aorrower provided for in this Mortgage shall be given by mailing such notice 6y certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice t[: Lender as provided herein. and
<br />(h) any notice to Lender shall be given by certified mail, return receipt requested. m 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 />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Mortgage; Governing Law; SeverabiAq•. This form of mortgage combines uniform revenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrurttrn4 severing
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />event Char any provision er sla!ise of this Mortgage er the Nnre conflicts with applicable law, such cuntiist shall not aifert
<br />ether oravisiuns of this M^rigagr ar the Notr which son be given effect without the conflicting provision. and to this
<br />end the provisions of the Mortgage and the Notc are dec:larcd to 6e severable.
<br />IS. Horrower's f`opy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the tim^
<br />of execution or after recordation hereof.
<br />17. Trensfer of the Propene; eLssumption. Lf 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 tiro or encumbrance sutwrdinate to
<br />this Mortgage. (b) the creation of a purchase money security interest for household appliances, ic1 a transfer by devise,
<br />descent or by up.ration of law upon the death of a joint tenant or (dt the grant of any leasehold interest of three years or less
<br />not containing un option to purchase, Lender may. at Lender'; option, declare all the sums secured b}• this hlartgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerae if, prior to the sale ur transfer. Lender
<br />and the person to whom the Property is to he sold ur transferred reach agreement in writing that the credit of such person
<br />is satisfactory tic Lender and that the interest payable nn the sums secured by this Mortgage shall he at such rate as Lender
<br />shall request. if l.rnder ltas waived the option to accelerate provided in this paragraph i7, and if Borrowers successor in
<br />interest has executed a written assumption agreement accepted in writing by 1.ender, Lender shall release Borrower from all
<br />obligations under this M1turtgage and the Note.
<br />ff Lender extrcises such option to accelerate, Lender shalt mail Aortower noticr i7f acceleration in accordance with
<br />paragraph t4 hsrrof. Such notice shall provide a period of not less than 30 days from the date the Holier is mailed within
<br />which Bornswrr may pay the sums declared due. 1f Borrower fails ro pay such sums prior to the expiration of sash period,
<br />Lender may, without further notice or clrmand on Borrower, invoke any remedies permitted by paragraph 18 heroof.
<br />~tov-Urvu=oaxt t'ovrtinnrs. Borrower and Lender further covenant and agree us fnllawsr
<br />i8. rirceleration; Reeedies. Except as provided in paragraph 17 hereof, upon Horrowcr's breath of any covenant ar
<br />agreement of Borrower in this Mortgatte, including the covenants to pay when due any sutn.R secured by this M1fort(tage,
<br />Lender prior to accelerateon shall mail notice to Burrower as provided in paragraph 14 hereof specifying: (1) fire breath;
<br />(2) the action required to cure such breach; l3) a date, aot less than JO days from the date the notice is mailed to Borrower,
<br />by whkh Bach bccach must be cured; and (d) that (allure to cure such breach an or before the date specified in the notice
<br />may result in acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property.
<br />The notice shall further inform Harrower of the right to reinstate after acceleration and the right to trssert in the foreclosure
<br />proceeding the two-existence of a default or any other defense of Borrower to acceleration and forecMsure. H the breath
<br />Ls not cured on or before the date specified in the trotice, [xnder at Leader's option may declare all of the sums secured by
<br />this MoctRagr to be immediately due and pa; idrle without furiber demand and may forerFose by judicial proceeding. Lender
<br />shall be entitled to collect in such proceeding ail expenses of fureciosare, inriudlntz, but not limked to, costs of documentary
<br />evidence, abstracts and title reports.
<br />19, Borrower's REght to Reinstate. Notwithstanding Lender'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 Mortgage discontinued at any time
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