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<br />Lender's written agreement or applicable law. Borrower shall pay the amoum of alt mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall became a~itioml
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agt:rn to outer tetras of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shah bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Nare unless payment of
<br />interest at such rate would be contrary to applicable law, in which evrnt such amoutds ahaB bear interest at thehighest rate
<br />petmissibie under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />g. inspection. i_ender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that [_ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnaton. The proceeds of any award or claim for damages, direct or consequemial, in conntxtion with any-
<br />condemnation or other taking of the Property, or part thereof, or fnr.wnveyanee in lieu of condemnation, are hereby assigrted-
<br />and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shalt he applied to the sums secured by this Mortgage:
<br />with the excess. if any. paid to Borrower. in the 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 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 [he proceeds
<br />paid to Burrower.
<br />if the Property is abandoned by Hottower, 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. bender is anihnrired rn collect and anpW the proceeds, ar Tender's nntirtn, Pother to rtst~r?tien nr rw .r ^f the
<br />Property nr to the sums secured by this Morteage.
<br />IJniess [,ender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
<br />or postpone the due Jane of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. F.ztension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by I_znder 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. i_ender shall not he required to commence
<br />proceedings against such sua:essor or refuse to eziend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of am- demand made by the ori¢inal Rorrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Nota 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 liens or charges by Lender shall not he a waiver of Lenders
<br />right m accelerate the maturity of the indebtedness securd by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to am other right or
<br />remedy under this Mortgage or afforded by law or equity. ant map he ecercised emicurrentl7, independently or successively.
<br />13. Successors and Assigns Bound; Joist amt Seretai Liability; Captions. The eoveoants and agreements herein
<br />contained shall hint, ant 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 not to he used [o
<br />intcrprct or define the provisions hereof.
<br />I4. Voliee. Except (or any notice required under applicable law to he given in another manner, tai am~ notice m
<br />&,rn,wer provided for in this Mortgage shall he gn~en by mailing ,uch notice by certified mail aJJressed to Btrcrowrr at
<br />the PmDrm Aridre„ ,+r tt such other address as Bormwer m;n des:gnatr by nrnicc ro [ender as provided herein, and
<br />(ht :mr notce to LrnJerr shall he c~ten he certified marl. rearrr. reccrpt requested. m Lender's aJJress stated herein or to
<br />such athrr address .u Lender maq designate M~ nuticc m Burnnrer as provided hercm :\ny notice provided (or in this
<br />Mortgage ,hall },r deemed 'u ha,e been given ro Borrower or 1 ender when even in the manner designated herein.
<br />15. l nftorm Mortgage; Gorerniog taw; Severability. I'hu form u( mongagr combines uniform covenants for nations!
<br />use :mil non-uniform covenants with limited rananons hp ;urisdiction to .onstinae a uniform sararriry• instrument covering
<br />real propene. Thr, Mortgage ,hail nr governed by the law of the iunaJiction in which the property is located. In the
<br />event shut :my pravaron nr clau,e of thi, Mortgage nr the Note ron0irh with apphcaMe law. ;uch conitict shall not affect
<br />usher prou,iuns of this Mortgage or the Nete which .'an be mcr^ effa~t without the smtiicting provision, unJ to this
<br />enJ the pnni,ion, of 'hr Mortgage ant the Mute are declared to he severable.
<br />16. Borrower s Copy. Rorrower .hall hr furnisheJ a c,+n formed copy of the Note :mil „f th:, Mortgage at the time
<br />of exec alien i,r after re. ordation hercnf.
<br />17. Transfer of the Property; Aswmplion. If all or tin}~ part of the Pntprrty or an mterest therein i, sold or tramferred
<br />by Borrower wahout Lender's poor wriucn cunsem. excluding fat the rreauun of a hen nr eneumhran..e wbonlinate to
<br />this Mortgage, thl the a:reation of :, purchase money cecnrity interest for houehnid :+pphancn. 0.-! a tramter h}' devise.
<br />decent or by uprratwn tit law up.,n the death of :+ ionu trnam or -
<br />. - Lender :na}, tit I_cnde!\ option. dedarr all the :ants .enrmd by this xfortg;tgr to he
<br />immediately due ;end payable. I coder ,hall have waived cash aptiur; m arccleratr .1. prior t,t dte .ale or nans(rr. Lender
<br />:mJ the person to whom the Pn:)x:rn n to ha ,o1J o! !ramlerrrJ reach ,,grernum .n wntutg that the ,reds of u,~h person
<br />is salisl uctorv to l.euJer ;utJ that tha mtere,t petahle on the .am, uu+reJ ht ih!, \longage .halt he .tt •r:rh ~atc .:, 1 ender
<br />shall request. If f enter ha, wane) !hc option to .,.ccirrtte pnw:deJ .u ihu p:u agraph 1"r..enJ :i Hnrnw ei\ wsassor +n
<br />interest ha, rsecutrJ a wnuen aswmpuon agrvemcut accepted in .along fix 1 ender. I enderhall !rlr:,,e Hon awc~ nom all
<br />ubligauons antler this Mortgage and the Vote.
<br />il' Lender rxercisu ,uch option a, aacakrntr 1 coder ,hail ma,t Ron uwcr n„are of a..elr!ew rte :r .rtt,redansr wnh
<br />paragraph I-t hereof $uch noose .hxll provulr a prnoJ of n,a Icse than )t) dins tnmt !hc e!.ua ±hc noti.< : utai!eJ wrthut
<br />w'htch BUn ewer slat' pay the st;ux deJ.,reJ Jae It Ronuwcr tail, w pay a:t h .,tut, p::or !„ the r,pir.,uon .+i .u.h peu+,d.
<br />Lender ma}, without fu;the: narce or demand .'u }lure-.+wer..uar:.v- an} lent.-d:ca i,cnnrttcJ h, paragraph i v herruF.
<br />Nuu-t'~nu-oa+t ('ovtnn~ ts. Ban.*.ver and 1 cadet hu:her c,,teuant .nrJ acres .+, follows:
<br />18. AccrlerWfon; Rrrnedirs. E;xcrpt as prorided io paragraph 17 hereof, upon ftorruwer~, breach of any rorenant nr
<br />agreeninnt of Borrower in this Slortgage, including the cosrnanis to pay when due an} smru secured by this \lurtgage,
<br />lender prior to acrelrraUua shall mail rwtice to Borrower an pnrsidvd in paragraph 14 hereof specifying: 11) Ihr breach:
<br />(2) the action required to cure such breach; t3) a datr, nut Irss than 30 days from the date the rwtice i! ntaileJ to Burrower,
<br />by which such breach mwt br rand; and (S) that ^Uure to cure such breach on or before the date sprcifird in the nuticc
<br />rtwy resuh fa accekraUon of the solos secured by this :blurtgnge, fvrerlwure by judlciW pruerrding and sale of fhr Proprrty.
<br />Thr nuticc shall further inform Borrower of fhr right to relnsta/e after accrieration and the right to assert in the fureclwurr
<br />pratperdiug fhr nun-rxixlence of a tlrfauR or any other deferue of Rorrower m nrceleratiun :mil foreclosure. If the breach
<br />ib not rurrd on or be[un fhr date specibed in fhr notice, l.rnder at Lenders option nmy declare a!1 of the stuns secured by
<br />Ihht Mortgage to err immrdfatrly due and payable without further demand and may farecluse by judicial prucredirrg. Lender
<br />shah fn eutilird to collect in such proceedngg sit expenses of foreclosure, iududing, but not limited h>, costs of dcemttentap
<br />widener, abatraai+ sail title reports.
<br />l9, Borrower's Right ro Reinstate. Na,twithstanding Lender's a«clrrai'or. <, i!:c k;uus sa :rat h}' thi, Mortg;;:;c,
<br />IIm-rower ,hall huts rho right q. have any proceedwgs }x:gun ht Lender w .ntut:r the lforr,tgc ~,:~. ,. aruurr.:~J at v:. ,...,.
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