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<br />Lender's x~rinen agreement o: applicable law. Barrowtr shall pa}• the amount 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 become additional
<br />indebtedness of Bo:rowtr secured by this Mongage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice tram Lender to Borrower requesting payment thereof. and sha13 bear interest frnm the
<br />date of disbursement at the rate payable from time to time an outstanding principal under the Note unless payment of
<br />interest ai such rate would be contrary to applicable law, in which event such amounts shall bear interest at the. highest rate
<br />permissible u,,^,~er applicable law. Nothing contained-in this paragraph 7 shalt require Lender to incur any expense or lake
<br />any action hereunder.
<br />8. Inspection. Lender ma-v make or roust 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 mlated to Lender's
<br />interest in the Property.
<br />9. Condemnafion. The proceeds of any award or claim for damages, direct or consequentiah in connection with any
<br />condemnation or other taking of the Property. or part thereof, or for conveyance in tieu of condemnation, are fiereby assigned
<br />and shall be paid to Lender.
<br />Tn the event of a total taking of the Property, the proceeds shall be applied to the sums secured by thislVlortgage;
<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 6e applied to the sums secured 6y this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this A4ortgane immediately prior to the daft of
<br />'taking bears to the fair market value of the Property immediatel}' prior to the date of ta}:ing, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by 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 the
<br />Property or to the sums secured by this Moneage.
<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 t and 2 hereof or change the amount of
<br />such installments.
<br />Y0. Borrower Not Released. Extension of tfie time for payment er modiScation of amortization of the sums secured
<br />b}' this Mortgage granted by Lender to am successor in interest of Borrower shall no[ operate to release, in any manner,
<br />the liability of the orieinal Borrower and Borrower's successors in interest. Lender shall not 6e required to wmmence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured b}' this Mortgage by reason of an7 demand made by the orieinal Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender 1'ot a Waiver..4ny forbearance by Lender in exercising env rieht or remedy hereunder. or
<br />otherwise afforded by applicable law, shall net F>e a waiver of ar 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 maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mongage are distinct and cumulative to any other right or
<br />remedy under this Mortga¢e or afforded by taw or equity, and ma}• be exerdsed concurrently. independently or successively.
<br />13. Successors and Assigns Bound: Joint and Several i.iabilih~: Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 1? hereof. All covenants and agreements of Borrau•er shall be joint and several.
<br />The captions and headings of the pazagraphs of this kfortgage are for convenience only and are not *,o be used to
<br />interpret or define the provisions hereof.
<br />14, Notice. Except ter any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mongage shall oC given by mailing such notice by certified mail addressed to Borrower at
<br />iht Prapeny Address or at such ether address as Borrower ma}• designate by narice to Lender as provided herein. and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested, fa Lenders address stated herein or to
<br />such ether address as Lender may designate by notice to Borrower as provided herein. •4ny notice provided Tor in this
<br />Mongage shalt be deemed to have been given to Borrower or Lender whr_n given in the manner designated herein.
<br />I3. Uniform Aortgage; Govemint; Law; Severabitity. This form of moneage combines uniform covenants ter national
<br />use and non-uniform eevenants with limited variations by jurisdiction to conslitme a uniform security instrument covering
<br />real property. This Mortgage shall be governed h}' the law of the jurisdiction in which the Propert}• is located. In the
<br />event that any provision or clause of this Mortgage ar the Note conflicts with applicable law, such conflict shall net affect
<br />other previsions of this Mortgage or the Nate which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />16, Borrower=s Copy'. Borrower shall be furnished a conformed cap}' of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Propem; 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 a lien er encumbrance subordinate to
<br />this Mortgage. (h) the crea[ian of a purchase money securit}• interest for household appliances, (c) a transfer by de ViSl',
<br />descent ar by aperatiaa of law t:pon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lrnder may. a[ Lcndtr's option, declare al! the sums stcured by this 's".ort2age to 6e
<br />immediately due and payable. i_ender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />.and the person to whom the Proper[}' is to be sold or transferred reach agreement in writing [hat the credit of such person
<br />is satisfactav to Lender and that the interest payable on the sums secured by this Dlongage shall be at such rate as Lender
<br />shalt request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this MorFgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower natite of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall oravide a period of eat less than 30 daps from the dale the natite is mailed within
<br />which Borrower may' pay the sums declared due. 1(Bovower fails to pa}~ such sums prier to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph lE hereof.
<br />Nou-UNIFORM CovevntaTS. Borrower and Lender further covenant and agree as fellows:
<br />18. Acceleration; Remedies. ]Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this D9on8age, including the covenants to pay when due env sums secured by this Alortgage,
<br />Lander prior to acceleraflou sisall mail natece to Harrower as provided i:: paragraph 14 hereof specifying: (Y) she breach;
<br />(2) the anion required to care such breach; (3) s date, not less than 30 clays from the date the notice is malted to Borrower,
<br />by which such breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this Alortgage, foreclosure by judicial proceeding and sale of the Property.
<br />The notice shell further inform Borrower of the right to reinstate aHer acceleration and the right to risen in the Foreclosure
<br />proceeding the non-exisiertce of a default or aoy other defeme of Borrower to acceleration and foreclosure. tf [he breach
<br />is not cured on or btforx the date specified in the notice, Lrnder at Lender's option may declare all of the sums secured by
<br />this SfoMgage to be immediately due and payable without further demand and may foreclose by judicial proceeding. Lender
<br />shall be emitted to collect in such proceeding alt expenses of fortNosure, including, but not limited to, costs of documentary
<br />evidence, abstrocis and title reports.
<br />t9. Barrcyer's R~::t fa ;si:sia:z. Notwithstanding Leader's acceletatia; of the st:ms secured b} this Mar~age.
<br />I:orrov,,.r a..aH bout the r,'gh° .o „eve any proceedings begun bs~ I_cnder to zntorce Ih~c tit nttgn~ _..>~entinua~ at .,n} time
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