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80- ~~t
<br />Lender's written agreement or applicable law. borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph ?hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon entice from I-ender to Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the No[e unless payment of
<br />interest at such rate would be contrary to applicable tau'. in which even? such amounts shah bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Tender to incur any expense nr take
<br />any action hereunder.
<br />S. lttapertion. Lender may make nr cause to he made reasonable entries upon and inspections of [he Property, provided
<br />that Lender shall give Borrower notice prior to any s+ch inspection specih•ing reasonable cause thesefor related to lender's
<br />interest in [he Prnperh•.
<br />9. Condemnallon. The proceeds of arty award or claim for damages. direct or consequentiah in ennnection with any
<br />condemnation nr other taking of the Property. or part thereof, nr for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />in the event of a total 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. In the event of a Decrial 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 [hat proportion which the amount of the sums secured by this Mortgage immediate) ,~rinr to the date of
<br />taking tzars to the fair market value of tfie 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, or if,-after notice by Lender to Borrower that the condemnor offers to make
<br />an award nr 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 prex:eeds. at Lender's option. either to restoration or repair of the
<br />Proaerty nr to the sums secured by this Mortgage.
<br />Unless Lender and Borrowrr otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the mnnthh' installments referred to in paragraphs i and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Riot Rehased. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted b}^ Lender to any successor in interest of Borrower shall not operate to release. in any manner.
<br />the !lability of ?he original Borrower and Borrower's successors in interest. [.ender shall not he required to commence
<br />proceedings against such successor nr refuse m emend time for payment nr otherwise modify amortization of the sums
<br />secured by this Mortgage by reason nt any demand tirade by the original Ronawer and Borrower's successors in interest
<br />11. Forbearance by lender Nwt a Waiter. .Any forhearancc by f ender in exercising any right or remedy hereunder. or
<br />otherwise afforded by applicable taw, shalt not he a waiver of nr preclude the exercise of am• such right nr remedy.
<br />The procurement of insurance or the payment of races or ether Gem or charges by Lender shall not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this \t.,rtgage.
<br />12. Remedies Cumulative. .All remedies pmvtded in this hlongage arc distinct and cumulative to any other right or
<br />remedy tinder this Mortgage or afforded by law nr euunu. and may he ceercised concurrentlc, independenth~ t>r successively.
<br />13. Successors and Assigns Bound: Joint and Several i.iabitih: Captions, The covenants and agreements herein
<br />contained shall hind, and the rights hereunder shall inure to. the respective successors and assigns . C Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. .4G covenants and agreements of Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Mortgage arm for convemercc only- and are not to he used to
<br />interpret nr define the provisions hereof.
<br />14. Notice, Except fee any notice required under applicable tau to be given m another manner. ia) any notice to
<br />Borrower provided for in this Mortgage shall he etven h} matting such nonce by .crttfied mrl addressed to Borrtnser at
<br />the Pn,pcrty Address nr at such other address as Bnrrt,u cr may devgnare b}• notice to I ender as provided here] n, and
<br />(b) am' notice to Lender shall be given by certified mail. return receipt rc-q nested. u, Lender's address stated herein nr to
<br />such other address as Lender may designate b} notice to Borrower as provided herein. Anw notice provided for in this
<br />Afnngage shat) be deemed to have been given ro Borrower or 1 ender a-iren given in the manner designated herein.
<br />15. Uniform Aiort6aRe; Governing Law; Severabilit.•. This form of mortgage combines uniform s.venants for national
<br />use and non-uniform covenants with limited variations by lansd:ainn to consti±ute a~ilniform sccarity imtnnnent covering
<br />real property- This !1longage shall he eosrrned h~ the tau' of the roricliction in which the Pr.,peny ~~ leaned. In the
<br />event that any nmvisinn or clansc of ihi= Stongage nr the Note conflict, ~~~ith applicable law, such :onfltct shall not affect
<br />other previsions o€ this Mongage or the Ante which ,an be ,even ctTect without the eor.fiictine pros-ision, and to this
<br />end the provisions of the Mortgage and the ~crte are declared t,: re seeerabk. -
<br />Itb. Borrower's Copy. Borrower snail he fs:.:,:;hed a ,an;ornted c .-, the ~otc and <` th+` ~f ortgege at rite time
<br />ni execution or after recordation hereof. •
<br />17. Trtuasfer of the Property; Assumption. 1 ati or any pain of the Propert.' r, an :ntcrcst tLcrem it ,old nr transferred
<br />by Borrower without Lender's prior w•rinen consent, cuiuding int the :reauoat of a l;tn ar encumbrance sabonlmate t„
<br />this Mortgage, (b) the creation of a purchase money security :narasr ;ur household apph:trs:zs. ici a tramtcr h}• devise.
<br />descent or h}' operation of tau upon the death of a joim tcnam or - - - -
<br />Lender may. at Lender's ,:puon. declare ail ;he .ums sea:trd by ?hts Mortgage to bt
<br />immediately due and payable. i-ender shell ltas-c ua:ved ash .,puon u, aselernte if. prior to the wle .~r transfer. Lender
<br />and the person to whom the Pn,pcrt} is ?.> br s.,ld or tnamtea red scach .~errement :n unung that the credit nr su.:h person
<br />is satisfacter_Y to Leniigr and that the interc,t payable on the sun., ,et u:ed h} this ~9ot tgagc shalt be at sorb rate as 1 ender
<br />shall request if Lender has waived the .,~ non .., asrieratc prr,vided .n this paragraph 1?sn.1 ~f Borrs,ucr's successor rn
<br />interest has executed a otiose .xssumpt~oa agreement accepted in -.,rite:g by ).ender. lender ;,all trlcax Bnrtoucr from alt
<br />obligations under this Mortgage and the lore.
<br />If Ixnder exercises such opttan to a::~elerate. 1-eerier shalt matt Bnrr~uer notice .,f ,t~reierauor, .r, ,; r.rdancc uiifi
<br />paragrnph 33 hgreef. Such neiice shall provide :t prrst:d of n,•. less than t0 days ;'tom the dste the n,:t icy ~` mailed within
<br />which Ba rs >.wer ma: pay the .um. 1 a d-t- t# 6 - - h ^t. ~ r- t , th - p ~ _i-rh p"~od.
<br />Lruarmay. ~;.hout furt;er n.,.,...., ...:_s.:.^d: : !~...- _ ..v t::-.tt m:.d,.s rv_.m.#te.; h: ~ -rr.~a,. !~ h~r•...
<br />tiny-Ui'7tcutsr Ccvvexnsrs. Bar;-,:ewer and t fader further .,:~. euant anil .tgrcc ;:" l.,Ilous
<br />1& Aeceleratiou; Reutrdies. Eurpt as prasidtd m paragraph 17 hereof, upon Barron er;. breach of an}~ covenant or
<br />a'reerurwt of iorraw~er in this ~iorlRagr, irtciudirrg the covenants u, pat when due an} ,ums scented 6y this \lortRage.
<br />)..ender prior tw accelerptioa sirdi mail notice to Borrower as provided in paragraph 11 hereof specifpiog: I1) Inc. broach;
<br />t2) tie action ngaired to cure sorb breach; {31 a date, not less thou 10 da#s tram the date the notice is ntaited n. Borrower.
<br />iy w-rie6 latch breach root be cored; and 1;) that failure tw cure such breach un or befwe the date specified in the notice
<br />may melt is accekntiao wf the sums secured 6y this ~fwrtBaRr, fwrerlasurr b} jodiriai prorrrding and Hale of the Property.
<br />"lbr twtice shalt fur-her ielorm Borrowrr of the right in reinsta[r after accelrraliun and the right w a,srrt in the furrclosurr
<br />proceadM#R fix awn-etiktance of a default wr any nihrr Jrfensr oP Borrowrr !o accrlrraiinn and furec,tnnre. ff the breach
<br />is m>t erred ttrt of hrfwre fie date specified in the notice. l.rrrder at Trndrr's option may declam a6 af' the sotto srrured by
<br />this Martettge tw be imnvediatrl; dre and payable withon# turtbrr #lrma:td and rna> fatrrcirnc by judicial prucerdiug, Tender
<br />vlroll it enlitkd to roller) in such proceeding all rxprnse, of (orrclosure, inciadtng. but not limitrrl to, costs ni darunarntur}
<br />tv'idtnce, ahstraa•tti oral lUlr reports.
<br />19, {wrrowtr's Right to Rtlnstatr.. S-naithtta'tdmg tend ~ rt-. ~ of t rt ~ .m, , t i h,. this fit, tik t.c
<br />tint rtitwct sheD hazer. iha right to hart- ant' ln,icedangs fKgnu h, I::.d.:t , ..•.~ th- St. <.ti .ti. ~ ,,,_ -u-;~ .n are me
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