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<br />Lender's u•.*itten agrzement or applicable taw. Borrower shall pay the amount of ail mortgage insurance ptaatiums in the
<br />manner pfavided under paragraph 2 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 Bartower and Lender agree to other terms of payment, such.
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from fhe
<br />date of disbursement at the rate payabte from time to time on onistandeng principal under the Note unless payment of
<br />interest at such rate would be corttrary• io applicable taw, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothsng contained in this paragraph 7 shoo require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to 1_endels
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or fcr 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 shaft be 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 tx applied to the sums secured 6y this Mortgaee such proportion of the proceeds
<br />as is equal to that proportion which the amount of ;fie 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 io BOrrOWer.
<br />If the Property is abandoned by Borrower, or if. after notice by Lender to Rortower 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 t?te date such notice is
<br />mailed, Lender is authorized to rnllect and apply the proceeds, at Lender's option. either to restoration or repair of fhe
<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 referted to in paragraphs i and 2 hereof ar change the amount of
<br />such installments.
<br />10. Borrower Nof Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted F.v Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liattiliry of the original Borrower and Borrower's successoa in interest. Lender shall nee he 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 successors in interest.
<br />Y I. Forhearauee by i.ender Not a Waiver. Any forbearance 6y i_ender in exercising am right or remedy hereunder, ar
<br />otherwise afforded by applicable law. shall not he ss 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 be a waiver of Lender's
<br />right to accelerate the maturirv of the indebtedness secured by this Mortgage.
<br />I2. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
<br />remedy under this Aortgage or afforded by law or equity. and may he exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall more to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph i r hercoT. Ali covenants , nri agreements of Borrower shall be joint and several.
<br />The captiuos and headings of the paragraphs of this Mortgage a.e For canveniencc only and arc not to he used to
<br />interpret or define the provisions hereof.
<br />IA. Notice, Except for any notice required tinder applicable law to be given in another manner. (al :my notice to
<br />Snrrow•cr provided tar in *.his :'s?artgage shall `:~e p..iven by mailing .ugh notice F,v .etti.^.~aa. ma:l addresszd t ~ €?orrowz: a{
<br />the Property Addre<s o~ at such other address as Sorrower may elesignute t,y notice to 1 ender ;:s pnie•ida _i i;cro'vs, ;and
<br />(bi soy notice „ t anccr s^:d; t•~ given : certin"ed ma;i. ; .urn ~~.eqn rcyuested. .u Lenders address statccf herein or to
<br />such other address as 1_ender may designate try notice to Borrower as provided heretic. Any notice provided for m this
<br />i+iotigagc shall be deemed to have ir; en given to isarro:ver ar i.ender when given in the manner designated herein.
<br />_- c•~. -_ - =.srig&~e: Governitag lac:: 4eversliiiNy. this form of mortgage comaines umfarrtt covenants Fur nafcanai
<br />use and non-uniform covenants with limited variations h7 jurisdiction tic ransunne a undone secunty instrument covering
<br />real propert}'. This Alongage shall bc; governed by the law of the iurisdichon in which the Property is Ixated. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict .hall not affect
<br />other provisions of [his Mortgage or the Note which can he given effect without the conflicting provision, and to this
<br />end the provisiens of the Mortgage and the Note are declared to rte severable.
<br />16. Borrowers Copy. Borrower shall t;e furnished a conformed copy of the Note xnd of this mortgage at the time
<br />of execution ar after recordation hereof.
<br />Y7. Transfer of the Property; Assumption. If ell or any part of the Property or an interest therein is sold or transferrod
<br />6y Borrower without Lender: prior written consent, excluding la) the creation of a lien or encumbrance suttonhnatc to
<br />this Mortgage. (h) the creation of a purchase money security interest far household appliances, (G a trnnsfer by devise.
<br />desr;en[ or by operation of Inw upon the death of a join[ tenant or idi the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at Lender's option, declare all the Bums secured by this Mortgage to he
<br />immediately due and payable. 1_ender shall have waived such option to accelerate d, prior to the sale ar transfer. 1 coder
<br />and [he person to whom the Property i•a ro be sold ur transferred reach agreement m writing that the credit of such person
<br />is satisfeciary to Lender and that the interest paryuble tin the sums secured by this Mortgage shall be al such rate as Lender
<br />shag request, tf i.ender has waived the option to sccekrate provided in this paragraph 17, and if Borrowerb successor !n
<br />interest has executed s written assumption agreerttent accepted in writing by Lender. Lender ,hall release Harrower tram all
<br />obligations under this Mortgage and the Note.
<br />If Lender exorcises such option to accelerate, Lender .hall mail Borrower notice of axeleration in accordance with
<br />paragraph i~ hereof. :such notice shah proviie a pc:riaei c+f not ics; than iii da}s horn [he date the notice a, ntaiied h-ithm
<br />which Harrower may pay the sums declared due. if Borrower lads ¢t pay such ,unn pn.,r a, the cipiration . such per~ad.
<br />Lender ma}•, wi[hau{ further notice or demand on Borrower.:nvoie stn remediex pcnmtrcd by paragraph 13 hereof.
<br />NGti-U;ytr'r;;fsl Cbven+w7s. Rarrower and Lender further .occuant and agree z> tuilaws-.
<br />YS. Aeceleratiou; Remedies. $xcept as provided in par-a~raph t7 hereof, upon Borrower's breach of eny covenant or
<br />agreement of Borrower in this Mortgage, including the cotenants to pay when due any sums secured by this Mortgage.
<br />Lerrrler prior to aeceieratioa shall mail notce to Ibrrower as prodded in paragraph f4 hrrcvrf specifying: it) the breach;
<br />(Z} fhe actiau required to cure such breach; 131 s date, m)t less than t0 days from the date the uutire is mailed to Borrower,
<br />by which such breach Hurst be cured; and (JY that failure to rare such breach nn or before cite date spedfied in the notice
<br />may resulE is aceeleratian of the suncs secured by this Mortgage, foredosuro by ¢rdlcial proceeditrg and safe of the Property.
<br />7't+e notice shat: further inforat Borrower of the right m reinstate after acreteration and the right to assert in fhe furertosurs
<br />proceeding ttu: rsoa-existence of a default or any other defense of Borrower to acreteration and foreclosure. If the breach
<br />is Hai cured on or before fhe: date specified i» the notice, l.emler at Lender's opt)nn may declare all of the scans secured by
<br />this iloctgagc to ha immediately due and payabte wiihuut furitrer demand and may Foreclose by jndicia! prureediag. !.ender
<br />shalt Pte entitled to coliert hs sorb proceedY»g alt expenses of foreclosure, including„ bur not limited pr, costs of dsxutneutucy
<br />evlde»ce, absiraets and title reports.
<br />... - °o:tie:a R.it to n.4.i~itdte. '+Otw:r;:st::.^.d;r.F .., .~:n :ir:. .. ,.,. u: e:: t1r L; 'lu;;g:a~, .
<br />Borrower shah inave the rigit[ to have urg proceeding. begun by~i rude,an, ~co Lntc the. Aiortrtagca~us..ontmucJ •~, .u;) :.u~,
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