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Lender's •a•ritten agreement or app[icable taw. Borrower shall pay the amount of ail mortgage insurance premiums in the
<br />manner provided under pazagraph Z hereof.
<br />Any amounts disbursed 6Y 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 paymrnt, such
<br />amounu shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest from the
<br />date of disbursemenf at the rate payable from time to rime on outstanding principal under the Note unless pagmtnt of
<br />interest at such rate would be contrary to applicable taw, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 'shag require Lender to incur any expenx or take
<br />any action hereunder.
<br />& Inspection. Lender may make or cozen to be made reasonable entries upon and inspections of the Property, prorided
<br />that Lender shall give Borrower notice prior to any such inspection specifying reasonable caux 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 Dart 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 aroceeds shall be applied to the sums sxured 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 Tender
<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 [o the date of
<br />taking bears to the fair market value of the Property immediately prior to the dale of tatting, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrowtr, or if. after notice by Lender to Borrower that the condemnor offers to rooks
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days shoe 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 the
<br />Property or to the sums sect[red by this Mortgage.
<br />Unless Lender and Borrower ctht: xisa sort in writing, any su^.h application of prec~;ds is principal shall pct tz:r,.d
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and ?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 imerest of Borrower shalt not operate to release, in any manner.
<br />the liability of the original Borrower and Borrower's successore in interest. Linder shalt not be required to commtnce
<br />proceedings against such successor or refuse to zxtend time for payment or otherwise modify amortization of the s+ims
<br />secured by this Mortgage by reason of any demand made by the ori¢inal Borrower and BorrowePs successors in interest.
<br />ll~w Forbeat•aace by'Ee~iae.Jiot a Waiver. Any forbearance by Lender in exercising any right or remedy ltercunde4 or
<br />oiher~tse atfi~{a~rby apptir.,al)je ~aw, shall not be a waiver of er preclude the exercise of any such right or remedy.
<br />~ `-- - t~3ifss;-Aaaitcat#4 {STt~t a payment of taxes or other liens or charets b7 Lender shall not be a waiver of Lenders
<br />right to act ;r''!lR~tflRtervM.~f~the indebtedness secured by this Mortga¢e.
<br />IZ. Remedies CumolaBee. All remedies provided m this Moriga¢e are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded t+y law or equin•. and may be exerased concvrrendy, independrntiy or successively.
<br />13. Serccessors and Aligns Sound: joint and Several Liebifity; Capdons. The covenants and agreemrnts herein
<br />contained shalt bind, and the rights hereunder shall inure to, the respecnve suecessars and assigns . f Lender and Borrower.
<br />subject to the provisions of paragraph i' hereof. All covenants and agreements cf Borrower shall be joint and several.
<br />The captions and head•,ngs of the paragraohs of this Mortgage are for ~anvenreaer only and are sot to 4e used to
<br />interpret or define the provtsions hereof.
<br />id. glories. Except for any notice required under applicable law to be given m another manner. rat any notice to
<br />Borrower provided For in this ~iorgaae shall Fie gluon by mailing such notice by ~erafied mail addressed to Borrower a[
<br />the Property Address ar at such other address as Borrower may destenate by nonce tv Lender as provided herein. sad
<br />(b) any notice :o Lender shall he given by certified mail return reee:pt requested. to Lenders address stated herein or to
<br />such ofher address ~< i ender may designate by notice to Burrower as nrov!ded herein. .4ny ..^.etice provided fer in this
<br />Mortgage shall he deemed [o have born given to Borrower or I_endar when atven in the manner designated 'Herein.
<br />__ Uni?Deco ivtot?gaat: fioverning Law; ,axe: ability. -f;:is . „f me:tsa3e c:emb.ra urifarm covenants fer na[fanal
<br />use and non-uniform covenants ~..~ith !imited :'ariatians by iuntdi.ticn tc constinl[e a uniform security insirumetit covering
<br />real properly. This Mortgage shall fie governed by the law of the •urisdicuon m which the Prapettv ,s located In the
<br />event !hat any prevision or clause o[ this Mortgage or the Vole condic's ~x~ith applicable law, ;uch conflict shall not affect
<br />other pronsions of thts 4tortgaae or the Nute which can be given effect without the conflicting provision. and to this
<br />end the provisions of the Mortgage and the tio[e are declared to hs severablt.
<br />16. Borrower's Cepy. Borrower shall be tarnished a coniermed copy of the Vote and of this Mortgmge at the time
<br />of execution or niter recordation hereo[.
<br />17. Transfer of the Property; Assumption, If all oc any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, exe!uding !ai the creation of a lien or encumbrance subordinate to
<br />this Mortgage. gib) the creation of s purchase money security interest for household appliances, icY a transfer by devise,
<br />descrnt or by apennon of law upon the death of a joint tenant ur id) the grant of any leasehold interest of three years or !ess
<br />not containing an option to purchase. Lender may, at Lender's option. declare all the sums secured by thts `aortgagc to be
<br />iminediateiy due and payable. tender shat( have watved such option ro accelerate .f, prior to the sale ur transfer. Under
<br />and the person to whom the Property is to be sold or tntnsterred reach agreement in wrmng that the credit cf such person
<br />is satisfactory to Lender and that the interest payable on the sums s<:cured by this Mortgage shall he at such rate zs t.ender
<br />shall request If Lender has waived the option to accelers;r prov,dtd m the parag: aph 17, and ii Borrower; successor in
<br />inttrcst has executed a wntten assumption agreement accepted in writtng by Lender Lender ;hall release Borower from all
<br />obligations under this Morteage and the tiote.
<br />If Lendtr exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance wuh
<br />paragraph l~ hereof. Such notice shall provide a period of nix less than tU daps (rein the date the mice is mailed within
<br />3-bt-1 B•oe-,_~. m:: -hz su -,,, ~~ .,r_d vu° ,er.-~.+-ct .x~ls o '+av .,gin summa rrlcr to :he .ipef;uvn .. .,gin t-c. ,r.~.
<br />Lender may, ~.vitheut L•:rther nonce or demand on Borrower. invoke am: renreuies pnrmntesi h)~ paragraph ; ~ ~hcre.r[.
<br />tiov-Uvtt:oaar Covexnrv-;s. Borrower and Lender further coveunnt and agree as iollews:
<br />18. Acerieration; Remedies. Except as prodded in paragrrph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Mortgage, includin>; the covenants to pay when due any runts secured by this Mortgage.
<br />Lender prior to accetermtiom sha31 mail notice to Burrower as provided in paragraph Id hereof sprcifyin>;: Ill the breach;
<br />i3) the aedon required to cure such breach; 171 a date. not less Limn 30 days from the date the notice is mailed trt Bnrruwrr.
<br />Ay which such breach mint be. cured: and !•!) that failure to cure such breach na or before the date xpecitird in the notice
<br />may result in arcelsralion of the sums secured by this ~lurteage, forechuure b} judicial proceeding and .ale ni the Property.
<br />Tile notice shall further inform Burrox er of the right !u reinstate after acceleration and flee rinht to ;uarrt in tltr foredusurc
<br />practedia); the non-existence of a default or any other de[ensr of Aurruwer to acceleration :end iuredusun•. If the breach
<br />is not cured uu or before the date specified in the notice, LenJer at Lender's option ruay declare .+I! of the Yam, ,.cured h:
<br />this ~tortgaKe fu Fx itmtrediately dun and payable without further demand and Huey forrclme by judeciul pa>cceding. I ender
<br />sbail be rntitted a, cultrcE in such urocreding all expenses of forecknure. indudinK, but nut limited tu, cults tit duuuueutan
<br />evidence, atntrac is and title reports.
<br />19, Borrower's Right to Reinstate. \otu ahawnd,r~g lender-: .:;...cierar:on .ur.;.Y ,.._.ucd h~ ':v, \Lv:i.: ~.:-~
<br />ils~rv:vrr nhai! ',..vc .nv ,iaht to pace any prvvvcdings regun '+ I c.,ac, ., _,.., ice . ,! V v .,,.,r. -. ~~., ..... _~~
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