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Lender's ~x;itten agreement or applicable law•. Borrower shad pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7. with interest [hereon. shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such amounts shall he payable upon notice from 7_ender to Borrower requesting payment thereof. and shall bear interest from the date of disbursement at the rote payable from time to time on outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law•, in which event such amounts shall bear interest at the highest rate permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. inspectian. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Tenders interest in the Property. R Condemnarion. The proceeds of any award or claim for damages, direct or cansequential, in, connection with any condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation. are hereby assigned and shall he paid to Gender. In the event of a fatal faking of the Property. the proceeds shall be applied to the sums secured by this Mortgage. with the excess, if any. paid to Borrower. In the evem of a partial takine of the Propern'. unless Borrower and Lender otherwise agree in writin,. them shall be applied ro the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages. Borrower faitr to respond to Lender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of [he property or m the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shalt not extend or pos[pare the due date of the monthly installments referred to in paragraphs 1 and Z hereof or change the amount of such installments. 10. Borrawer Nat Released. Extension of the time for payment or modification of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest aF Borrawer shall not operate to release. in am manner, the liability of the Original Borrower and Borrower's successors in interest. Lender shall oat he required to commence proceedings against such successor, Or refuse to extend time for payment or otherwise modify amortization of the sums secured by this ?fortgage by reason of any demand made by the original Borrawer and Borrowers successors in interest. 17. l:orbearance by Lender NM a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall-not be'd waiver of or preclude the exercise of any such right or remedy. The procurement of insurance pr the payment of taxes or other liens or charges by Lender shall oat be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Mortgage. i°e. Remcu'ies Cumuia:ive. A ^°dies proridcd in this 'rfnrtgage are distinct and cumulative to any other right or remade under this Mortgage or afforded by taw nr equit}•. and map he exercised concurrently. independently or successively. 13. Successors and Assigns Bound: Joint and Several i.iability: Captions. The covenants and agreements herein contained shall bind. and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower, subject to the provisions Of paragraph I? fiereof. .All covenants and agreements of Borrower shall be joint and several. The captions and headioes of the paragraphs of this Mortgage are for convenience only and are net to 6e used to interpret or define the provisons hereof. 14. Notice. Lxcept for any notice reyuired under applicable law m he given in another manner, (a) am notice to Borrower provided for in this Mortgage shall he eiwen by mailing such notice h7 certified mail addressed ro Harrower at [he Property Address ar at such other address as Borrower miry' designate by notice to Lender as provided herein. and (h) ant' nOtict to Lender shall be given by certified mail. return receipt mquested. to Lender's address stated herein or to such other address as Lender mac designate by notice to Borrower as provided herein- Any notice previdcd far in this hlertgage shall he deemed to hacc been given to Borrower or Lender when given in the manner designated herein. iS. 6•_laifotm iartgage; Governing i_aw; Severabilih. This form of mortgage combines uniform covenants for nadoral use and non-uniform covenmvs with limited variations hv_ iuricdiction !O constiniw a uni(orrr, security instrument aivering real propert}'. This Mortgage shall be eoverned by the law of the jurisdiction in which the Pmperq~ is located. Cn the event that any provision Or clause of this Mortgage or the Note conflicts with applicable lain, such con Flier shall not affect other provisions o£ this Martgage ar the Nate which can t,e given effect without the coniictine provision, and to this end the provisions of the C`tnrtgage mtd the '~nie arc declared u+ be nverahle. 16. Borrower's Copy. Borrower ahxll be furnrched a conformed copy of the Note and of this Mortgage at the time of execution Or after recordation hereof. 77. Transfer of the Property; Assumption. if all or am part of the Properr' or an interest therein is sold or transferred by Borrower without L.ender's prior written amsem. excluding tut the creation of a lien Or encumbrance subordinate to this Mortgage, fb1 the creation of a purchase money .scarily interest (or household appliances. (cl a transfer be devise. descent or by aperahon of law upon the death of :+ joint tenant or tdt ;he grant Of :nn' leasehold interest of three years or less not containing an option to purchase, Lender may. at lender's option. declare all the sums neared he this Mortgage to he immediate!y due and payable. Lender sh:dl hacc waived such opricn to accelerate i(. pror :n the sale or transfer. Lender :+nd the person to whom the Property is to he solet or transferral reach agreement in wrinng that the rrodit of such person is satisfactory to I_under and that the interest payable on the vote secured hp Chic Mortgage ahall bt ai such rate as Lender shall rcyuest. If Lender has waived the opricn to accelerate provided in thn paragraph 7 .and it Aorrower'c successor in interest has executed a w'ritlen assumption agreunent accepted in writing by Lender. I ender shall releass Rorrewer from all obligations under this Mortgage and the Note. If fender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accord¢mce with paragraph 14 hereof. Such notice shalt provide a period of nt+[ Icss than i0 days from the date the notice is mailed within which Borrower may pay the sums declared due. If Burrower I:uls m pay such sums pri++r to the cxpiratiun n( such pericxi, Lender may, without further notice or demand nn Borrower. invoke :roc remedies permuted M pungraph I R hereof. NoN-Utvteoana Coveva'`•rs. Borrower and I ender lurther coven:ua and agree us follows: t8. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of Borrower in this Martgage, inclndiug the covenants to pay when due am sums secured 6v this 1lortgage, i.ender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hercrof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date, oat less than 30 days from the date the notice is mailed la Harrower. by which such breach must be cored; and (i) that failure to cure snch breach nn or before the date specified in the notice may result in acceleration of the sut+ts secured by this Martgage, foreclosnre by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-a<istencc of a default or any other defense of Borrower to acceleration and foreclosure. if the breach is not cured on or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this Mortgage to be immediately due and payable without further demand and may foreclose by judicial proceeding. Lender shall be entitled to collect in such proceeding all expenses of foreclosure, including, but not limited tu, coots of documentan~ evidence, abstracts and title reports. 19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage. Borrower shall have the right to have any proceedings begun by l.cnder to enforce this Mortgage diuonrinued at any rime