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<br />header's written agreement err appiic~ble law. ~ 13oirov,°rs shall pay the amount of alt mortgage insurance pcemitrtas in t}:e
<br />moaner provided under paragraolz 2 hereof. -
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon, shall become additiona}-
<br />indebtedne:,•s of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, suc}t
<br />amounts she}t be payable upon notice from Lender to Harrower requesting payment thereof. and shalt bear interest from the
<br />date of disbursement ai the rate payable from time to time on outstanding principal under the Note unions payment of
<br />interest a2 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 1 shag require Lender to incur any expense or Lake
<br />any action hereunder.
<br />8. Inspeedon, 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 re}ated to Lender's
<br />interest in the Property.
<br />9, Candemnaiton. 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 />7n 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 partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall ce 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 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 to Borrower.
<br />1f 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 tv 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 [hs Morgage.
<br />Unless i"ender 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 />S0. 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, ir, any manner.
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shad not be 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 tfiis Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not he a 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 he 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 Mortgage are distinct and cumulative to any other right or
<br />remedy tinder this Mortgage or afforded by law or equity, and may he exercised concurrently, independently or successively.
<br />l3. Successors and Assigns Bound; Joint and Several f.iabitify; 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 ptavisiens of paragraph I? hereof. :111 covenants and agreements of Borrower shall be joint and several.
<br />Tlt~ captions and headings of the paragraphs of this Mortgage are for convenience only and are not to he used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for an}' notice required under applicable taw to be given in ancther manner. (a) any notice to
<br />Borrower provided for in ibis Mortgage shall be given by mailing such notice by certified mail addressed to Horsower aE
<br />the Property Address or at such other address as Borrower mat designate by notice to bender as provided herein, and
<br />(h) arty rtetice to Lender shall he given by cernficd mail, return receipt regves[ed, to I~ndcr's address :toted :crcin or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. .A nv notice provided for in this
<br />~_„ gage shall tx: deemed to have been given to Borrower yr }.ender when given in the manner designated herein.
<br />`, i'n}foa-at Mo.~age; G:,verntr.g Law: Serersbiiity. "lilts form of mortgage combines n,-,iform covenants for national
<br />use and non uniform covenants with limited variations by jurisdiction to constitute a uniform security instnnnem covering
<br />real property. This Mortgage shall he governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall no[ affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting prevision, and to this
<br />end [he provisions of the Mortgage and the Note are declared to 6e severable.
<br />Fti. 1orrower's Capy. Borrower shat! he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all or any cart of the Property or an interest therein is sold ar transferred
<br />by Borrower without Lender's prior written consent, excluding la) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the death of a joint tenant or (d} the grant of any leasehold interest of three years ar less
<br />no[ containing an option to purchase. Lender may. at lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured b} this Mortgage 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 Tender, Lender shall release Borrower trom all
<br />obligations under this Mortgage and the Note.
<br />I[ Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph lv hereof. Seeh notice shall provide a period of oat teas than 3ti days from the date the notice is mailed within
<br />which Borrower may pay the sums doctored doe. if Harrower fails tv pay such sums pricer to the expiration of such period,
<br />Lender may, without further notice or demand nn Harrower, mvcke any remedies permitted by paragraph IR hereof.
<br />Nox-UrrtFOStvt Ccvexntars. Borrower and Isnder further covenant ;tnd agree as follows:
<br />18. AccekraHoo; Remedies. Except as provided in paragraph t7 hereof, upon Borrower's breach of any carenanf or
<br />agreement of Borrower in this Mortgage, including the cuo~enants to pay when due any sums secured by this Mortgage,
<br />t.emier prior to acceterotian shag mail notice to Borrower as provided in paragraph 14 hereof specifying: (I) the breach;
<br />(2) the acti»a requized to c::re such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower,
<br />by which such breach mast be cared; and (4) that failure to cure such breach ou or before the date specified in the notice
<br />way result in acceleration of the sums secured by this Mortgage, foreclosure by judicial pmeeeding and sale of the Property.
<br />The notice shag further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceediug the non-existence of a default or auy other defense of Borrower to acceleration and foreclosure. If the breach
<br />is not cured un ar before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by
<br />this Mortgage to be immediately doe and payable without further demaud and may foreclose by judicial proceeding. Lender
<br />shelf be entitled to collect in such proceeding ail expetses of foreclosure, including, bat not i}inked to, costs of documentary
<br />evidence, abstracts and title reports,
<br />13t. }~rrowar's Ri~6t fo ; eirYate. Notwithstanding Lender's ;tccelcraticn of the sums secure=d by this Mortgage.
<br />Borrower shalt have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued a[ any time
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