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<br />"Lender's :vritten agreement ar applicable Izn~v'. Borrower shall page the aennt+nt of al9 mortgage insurance. premiums in the
<br />manner pft,vided under paragraph ~ hereof.
<br />Any amounts disbursed by Lender pursuam to This paragraph 7. with interest thereon. shall become additional
<br />indeb~edness of Borrcwer secured by this hfortgage. L'niess Borrower and I.end?r agree to ocher terms of payment such
<br />amounts shall be payable upon notice from Lender to Borrower requesting paymer,! thereof, and shall beer 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 rate would be contrary to applicable law. in which event such amounts shall bear iniera5t at the highecf rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />anp' action hereunder.
<br />8. fnspecfion. Lender may make er cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior [o 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 consequential, in connection with am'
<br />condemnation or other taking of the Property, or pars thereof, or for conveyance in lieu of condemnation. are hereby assigned
<br />and shall be paid to Lender.
<br />Tn the event of a total taking of the Property. the proceeds shall be applied io the sums secured by this Mortgage.
<br />with the excess, if any, paid to Borrower. Tn the event of a partial taking of the Property. anless Borrower and Lender
<br />otherwise agree in writing, there shall .+c applied to the sums secured by this Mortgage such proportion of the nruceeds
<br />as is equal to that proportion which the amount of the sums secured by 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 to Borrower.
<br />If the Properh• is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award cr settle a claim for damages, Borrower fails ro respond to Lender within 30 days afrer the dve such notice is
<br />mailed. Lender is authorized to collect and apply the proceeds, at Lender's option, either io restoration or repair of the
<br />Property nr 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 2 hereof or change the amoant of
<br />such installments.
<br />10. Borrower Not Released, Extension of the time for payment or modification oC amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall nut operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest Lender shall not 6e 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 Mortgage by reason of any demand made by the original Borrower and Borrower's sttecessars in interest.
<br />iT. Forbearanec by Lender Not a Waive;. Any forbearance by Lender in exercising am' right or remedy, hereunder, or
<br />otherwise afforded h~; applicable law, shall not be 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 Liens er charges by Lender shall not be a waiver of LendePs
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />L. Remedies f:rtmuiative. Ali remedies provided in this Mortgage are distinct and cumulative ro any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound; .ioint and Several T.iability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of I"ender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for rnnvenience only and arc not to be used to
<br />in[erprat or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, tai any notice to
<br />Borrcwer provided for in this Mortgage shall he 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 h}' notice to Lender as provided herein, and
<br />(h} any notice to Lender shall he given b}' certified mail, return receipt requested. to Lenders address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided fur in this
<br />Mortgage slaail I,e deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform tllortgage; Governing T.aw; Severahflity. ~I?tis form of mortgage combines uniform covenants for national
<br />ttse ant non-uniform _-ovenants with limited variati•?ns by jurisdiction to constitute a uniform sec!trrty insirumcnt covering
<br />real property. "Phis Mortgage shall he governed h}• the law of the jurisdiction in which the P*eperry is located. In the
<br />evertt that an.• provisi+nt c- -cause of this Mar[gage ar the Note confiicis will; appli4al;iz law, such oarfiivt =halt not arirvt
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<br />other provisions o_f this hior[gage or the Nnte which can l,e given effect without the cnn(iicting provision. and tp this
<br />end the provisionc of [he Mortgage and the Nute are declared to he severable.
<br />TLS. Borrower's Copy. Borrower ,hall be furnished a conformed copy of the Note and of this Mortgagt a[ the time
<br />of execution or afrer recordation hereof,
<br />17. Transfer of the Properh; Assumption. if all or any part of the Property or an interest therein is sold or transferred
<br />by Burrower without Lender's prior written consent excluding fa) the creation of a lien or encumbrance sut,ardinate ro
<br />this Mortgage. (b) the creation of a purchase money security interest fur househn[d app}iances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant of (d1 the grant of any leasehold interest of three years ar Itss
<br />nut containing an option to purchase, Lender may, at Lender's option, dedare all the sums secured by this Mortgage to be
<br />immediately due and payable. i ender 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 re:reh 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 ,hall be at such rate ae Lender
<br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, I_tndrr shall release Borrower from all
<br />ohligalions under this Mortgage and the Note.
<br />if Lender exercises suzh option to accelerate, Lender shall mail Borrower notice of acceleration in accc,rtlanct with
<br />paragraph h4 hereof. Such notice shall provide a period of m?t less than 30 da}'+ from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. if Borrower fails ro pay such sums prior to the expiration of such Ixnod,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Nuts-U~tf•uxM CovrtNxtvt~_ Borrower and Lender furihcr eovenanf and agree as toVinwst
<br />#8. Aeceteraifan; Remedies. Except as provided in paragraph t7 hcrcaf, upon Barrowtr's breach ut any covenant or
<br />atit'eement of $orrower in this Mortgagt, including the revenants to pay when due any sums secured by this Mortgage,
<br />t.ondcr prier to acceleration shall ma8 notke to Borrower a.s ptavitled in paragraph ld hereof specifying: (T} the breach;
<br />(2) the action regwred to cure such breach; (3) a date, not Tess than 30 days From the date the notice #s mailed to Borrowtr,
<br />by which such breach must be cured; and (4) that failure to cure such breach nn or before the date specified in the notice
<br />may result in accekrotioa o! the snots secured by this Mortgage, inreclosure by judicial proceeding and Bait of the t'ropcrty.
<br />The notice sha:l further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the non-exislettee of a default or any other defeme of B»rrower !o acceleration sad foreclosure. U the breach
<br />R not cured an or before tint date specified is the notce, Lender at Lender's option may declare ail of the sums secured by
<br />ibis 14taHgage to be immediately due and payable withewt further demand sad awy Poreclose by judicia! proceeding. Lender
<br />shall be entitled to collect in such proceed#ng all expet~es of foreclosure, including, but not limited to, costs of documentary
<br />evWence, abstracts and title reports.
<br />#9. Borrower's Right to Reinstate. Natwithsianding 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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