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<br />Lender's -v.•riren agreemeai ar applicable law. Borrower shad gay the amount of alt mortgage insuranu premiums in the
<br />manner provided -under paragraph Z hereof.
<br />Any amopnts disbursed by Lender pursuant to this paragraph 7. wi•,h irzterest thereon. shall become additionaS
<br />;indebtedness of Borrvu'er secured by Phis Mortgage. Unless Borrower and Lender agree ro other terms of payment. such
<br />--•a,-.~ouris shall be payable upon notice from Lender to Bo: rower regvestirg payZ[;ent thereof. 2rd shall bear interest .4om the
<br />-'~dar_ of disbursement at the rate payable from time to time ot+, outstandsng p:ineipal under the Nate unless payment of
<br />interest at such :ate woutd be contrary to applicable taw, in which event such amoanu shah bear intere<t at the highest rate
<br />_-permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expsnst or :eke
<br />any anion hereunder.
<br />s. fnspeedon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />•that Lender shat] give $orrower notice prior [o any such inspection specif}•irg reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />- 9. Condemnafion. The proceeds of an}' award or claim for damages. direct or consequential, in connection with arty
<br />condemnation or other taking of the Propem•, or part thereof. er for conveyance in lieu of condemnation. are hereby assigned
<br />and shalt be paid tv Lender.
<br />In the event of a total taking of the Property, the proceeds shall be zpplied to the sums secured by this Monga¢e.
<br />u-ith the excess. if am•. paid to $orrower. In the event 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 <_uch proportion of the proceeds
<br />a5 i5 2gnai to that proportion which the amount of the sums secured by ibis Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prier to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or if. after nvtice 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. a[ Lenders option. either to restoration or repair of the
<br />'rropert}' or to [he sums secured b_v this Mertgaee.
<br />JHless Lender and Borrower vtheru~ise agree in writing, any such application of proceeds to principal shall not extend
<br />er postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for pa}•ment or modification of amortization of the sums secured
<br />by this Mengage granted by Lender to am• successor in interest of Bvrrawer shall not operate [o 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 modify amortization of the sums
<br />secured b}' this Mortgage by reason of any demand made by the orieinaf Borrower and Borrower's successors fn interest.
<br />11. Forbearance by Lender \ot a Waiver. Any forbearance 6y Lender in exercisin, an}• right or remedy hereunder, or
<br />otherwise afrorded by applicable law, shall not be a waiver of er 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 Aiongzge.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under [his Mortgage or afforded by law or equity, and may be exercised concurrenti}•. independenth• or successively.
<br />73. Successors and Assigns Bound; Joint and Several i,iability: 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 }7 hereof. All covenants and a¢reements of Borrower shall be }Dior and several.
<br />Tne captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret yr define the provisions hereof.
<br />14. \otice. Except for any notice required under aaplicable law to be given in another manner, (a) any notice to
<br />Borrower provided for iH. this Mortgage shall be given by mailing such notice by certified mail addressed to Boaower z[
<br />the Properly Address or at such other address as Borrower may designate by notice tv Lender as provided herein, and
<br />(b? any nMire to Lender shall be liven by ceni5ed mail, return receipt requested, to Lende.* s address stated herein er to
<br />such other address as Lender may designate by notice to Borrower as provided 'Herein. An7 notice provided for in this
<br />Riottgage shalt be deemed tv have teen given to Borrower er Lender when giyeH in the manner desgra[ed h?rein.
<br />75. Uniform Mengage: Governing law; 5everabilih•. 'this form of mortgage combines uniform revenants for rationzl
<br />use and non-uniform revenants ~+ith limited variations 6y jurisdiction tv constitute a uniform security instrument coverine
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Propen}• is located. In the
<br />event that any prevision or clause of this Mortgage or the Note conflicts with applicable law, such cvnfiict shall not affect
<br />other provisions of this Aiertgage or the Note 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 />26, Borrower's Copy. Borrower shall be furnished a conformed copy of the Nvte and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Properly; Assumption. If all or any part of the Property or an interest therein is sold er transferred
<br />by Borrower without Lendei s prior written consent, excluding (a) 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 taw upon the death of a joint tenant or (d) the grant of soy leasehold interest of three years or lee
<br />not containing an option tc purchase, Lender may, a[ Lender's option. declare nit the sums secured by this Dortgage to ce
<br />immediately due and payable. Lender shat! have waived such option to accelerate if, prior to the sate 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 by this Mortgage shall he at such rate as Lender
<br />shall request. 1f 1_ender has waived the eptian xo accelerate provided in this paragraph 17, and if Borrower's successor in
<br />inttresi has executed a written anumption agreement accepted in writing by Lender, Lender shall release Borrower from alt
<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 14 hereof. ;;nett netic~ shall provide a period of rut i:.ss rhea 39 days from the dale the notice is mailed within
<br />which $arrower may pay the sums declared due. If Rotrow~er fails to pay such sums prior to the expiration of such period,
<br />-Lender may, without fvrflter notice or demand on Borrower, invoke any remedies permitted bg paragraph i 8 hereof.
<br />- Nozv-UNtt:oxat CovexeHrs. Harrower and Lender further covenant and agree as follows:
<br />iii. Aceelention; Remedies Except as previded in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this htongage, including the covenants to pay when due any sums secured by this Mortgage,
<br />- Lender prior {o acceleratiaa sha93 mail notice to Borrower as provided in paragraph 14 hereof specifying: (2) the breach;
<br />-(2} the action required to care such breach; (3) a data, not less than 30 days from the date the notice is mailed 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 Mortgage, foreclosure by judicial proceeding and sale of the Propem•.
<br />The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />- proceeding the nun-existence of a default orany other defense of Borrower to acceleration and foreclosure. If the breach
<br />is not cured on or before 4bc. date specified in the notice, Lender ai Lender's option may declare all of the sums secured by
<br />this Mortgage to be 'rmmediatelq due and payable without further demand and ma-y foreclose by judicial proceeding. Lender
<br />shall tie entitled to collect in such proceeding elf expenses of fareciosure, including, but not limited to, costs of documentary
<br />evidence, abstracts and ride reports.
<br />i9. Bar:swxrs P.isbt to Rxiastatx. Natwithstarding Lender's acceleration of the sums secured by this Mortgage.
<br />Borrwer shall have tl;e right to have any prou..dings begun t±y Lender ;o enforce this Mortgage discontinued at any time
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