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<br />tinder's written agreement or applicable taw. Harrower shall pay the amount of aB mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph i. with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mongage. Unless Borrower and [znder agree to other terms of payment, such
<br />amounu shall be payable upon notice from Lender to Borrower requesting payment ehereof, and shall bear interest from the
<br />date of dsbursement at the rate payable from time to time on outstanding principal under the Note unless paym~tt of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shalt bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in This paragraph 7 shall require Lender to incur any expense or Saks
<br />any action hereunder.
<br />S. inspection. Lender :nay 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 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 any
<br />condemnation or other taking of the Property, or part thereof, or 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 shalt be applied to the sums secured by this Mortgage,
<br />with the excess. if any, paid to Borrower. In the even[ 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 chat proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taksng 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 Propeny is abandoned 6y 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 file
<br />Property er 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 i and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the 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 Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise mrrdify amortization of the sums
<br />secured by this Mortgage by reason of ary demand made by the original Borrower and Borrower's successors in interest.
<br />71. Eorbearance by Lender Not a Ii`a9ver. Am' forbearance by Lender in exercising any right or remedy hereunder. or
<br />otherwise afforded by applicable (aw. shall not he a waiver of or prelude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes nr other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured hg this Mortgage.
<br />i2. Remedies Cumulative. All remedies provided in this Alortgage arc distinct and cumulative to an7 other right or
<br />remedy under this Mortgage c r afforded by law or equity, and may he exercised concurrently. independently or successively.
<br />i3. Successors and Assigns Bound; joint and Several Liabilih•: Captions. The covenants and agreements herein
<br />contained shat! bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to flit nrovisions of paragraph 77 hereof. .Ail covenants ,md agreements c;f Borrower shall be inlet and several.
<br />The captions and headings of the paragraphs of this Mongage are for convenience only and are not to be used to
<br />{nterpret or define *.hr previsions hereof.
<br />7d. Nettice. Except for auv notice requimd under applicable tau to he given in another manner, f:A any notice to
<br />Ba° - .. provide ~.,~ .,, ,,..s .:gage :hall ire rn !,., ~tading such nett b~• ..tied ail addressei o Borrower at
<br />the ,Pr.^p: rtv Address orrz atLsuch•othcr address as 'Aorrower stay dcsignatr by notice'•tu `.ender as provided herein, anti
<br />(bi env notice t ~_ender s tall he given itv certified mail, r t::m receipt rege:estcd. t_ l.r. _ ~ addre=_=. __. _ _ _rin or t
<br />such other address as Lender may designate by notice to Borrower as provided hcrem.~Am notice provided for in this
<br />Mongage shall he deemed to have been given to Borrower or i.ender :when given is the manner designated herein.
<br />7s. iinir"or~+r iv9ortgage; C;pvrraiag Law: severablt7ty. his form of mongtite r:=mbinzs untforn: covenants for natiana!
<br />use and non-uniform covenants with limited variations hp jurisdiction to constitute a uniform secunty instrument covering
<br />real property. This Mortgage shall he governed by the law of the jurisdiction in which the Propert}• is located. In [he
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law. such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the comiicting prc~pision, and m this
<br />end the provisions of the 9lortgage and the Vote arc declared to he severable.
<br />16. Borrower's Capy. Borrower shall he furnished a conformed copy of the Nnte anu' of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />71. Transfer of the Property; Assumption. If 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 alien or encumbrance subordinate to
<br />this Mortgage, (h) the creation of a purchase money security interest for household appliances, fc) a transfer by devise.
<br />descent or by operation of law upon the death of a joint tenant or Id) the grant of any Icasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to he
<br />immediately due ;md payable. Lender shall have waived such option to accelerate il, prior to the sale or transfer, Lender
<br />and the person to whom the Propeny is to he sold or transferred reach agreement in writing that the credit or" such person
<br />:x satisfnerory to Lender and that the interest payable on the sums secured by this Mortgage shall he at such rate as Lender
<br />shall request. If Linder has waived the option to accelerate provided in this paragraph 17. and if Bormwer's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, Lender shall mlease Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph iq firteoi. Sue"ts notice shall pre ride a period of not less than +t) clays from the dais the -oetr~ is maiizu within
<br />which Borrower may aay the sums declared due. t( Borrower fails iu px}• such ,uru prior to the expirauon ,d uch pound,
<br />Lender may, without further notice or demand mt Harrower, invoke any remedies permitted by paragroph 13 hereof.
<br />NoN-Ilia FOant Cavensurs. Borrower and tender further covenant and agree as follows:
<br />IS. Acceteralion; Remedies. Except us provided in paragraph 27 hereof, upon Borrower's breach of any covenant or
<br />ugrlenrenY of Borrower in this blorfgage, including the covenants to pay when due any scans secured by this Mortgage.
<br />fender prior to accekratian shall mail notice to Borrower as provided in paragroph i4 hereof xpecifying: t7) the hreadr;
<br />(Z} the action required to cure such breach; (3) a date, not teas than 30 days tenor the date the notice is mailed to Borrower,
<br />by wbkh such breach must be cured; and (4) that failure to cure snob breech on or before the date specified in the notice
<br />may result in acceleration of flee snnu secured bq this Mortgage, foreclosure by judicial proceeding and sale of the Property.
<br />"Cho notice shat! farther inform $orrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />is trot cured on or trelore the date specified in lire notice, Lender at l,vnder's option may declare all of the sums snored by
<br />flits ~lortrage fo be in+mediatety doe and payable without further demand and may foreclose by judicial pnxeeding. i.ender
<br />~wott ~ gntiHn.t xp googol iu such praceedittot ail expenses nF foreclosure, imaudin>_, bat not limited [o, costs of documentary
<br />evidence, abstracts and title reports.
<br />13, Borcower's llig' iti to Reitisiaie. Nohvithytanding Lender`s -ccclerauon of the runts secured by this Mortgag.,
<br />Borrower shall have the right to have any proceedings hegun by Lender tc rn8trcc Chu Mongage diseununued at any ante
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