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<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiurits in the
<br />manner prcvided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become addkional
<br />indebtedness of Borrower secured by this Mortgage. Lnless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment 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 />permissib]e under applicable law. Nothin¢ contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />g. Inspection. Lender may make or cause [o be made reasonable entries upon and inspections of the Property, provided
<br />that Lender ,hall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnarion. 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 he paid to Lender.
<br />in the event of a rota! taking of the Property, the proceeds shall be applied to the snms 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 he 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 ro the date of
<br />caking bears to the fair market value of the Prope: ty immediately prior to the date of taking, with the balance of the oroce~ds
<br />paid ro 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 faits to respond to Lender within 3Q days after the date such notice is
<br />mailed. Linder 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 =fortgage. -
<br />tinless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall nni extend
<br />qr postpone the due date of the menthl}• installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Harrower Plot Released. Extension of the time for payment grl~~,mndification of amortization of the snms secured
<br />by this Mortgage granted by Lender to any successor in interest of Aorrower shall not operate to release. in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not he required to commence
<br />proceedings against such successor or refuse to extend time for paymeiit~.nr otherwise modify amortization of the sums
<br />secured by !hie Mortgage by reason of any demand made by the original }3orrnwer and Borrower's successors in interest.
<br />tl. Forbearance by Lender Not a Waiver. .4ny forbearance by I_o~n~ddr in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not he a waiver of nr preclude the exercise cf 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 indehtedres secured be this Mortgage.
<br />12. Remedies Cumulative. .411 remedies provided in this *aortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage er afforded ny law or eyuin~, ;md may he exercised cona[rrentty. independently ur successively.
<br />13. Successors and Assigns Bound; joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shalt bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph I? hereof. All covenants and agreements of Borrower ;hall tx: join[ and several.
<br />The captions and headings o[ the paragraphs of this Mortgage are for convenience only and arc not to ne used to
<br />in[ernret or define the previsions hereof.
<br />id. Notice. Except for any notice required under applicable law to be given in another manner. (ai any notice to
<br />Borrower provided for in this Mortgage shall he given hr mailing arch notice by certified mail addressed to Borrower at
<br />the Prape rry Addn:<. nr ai ;uch other address as Aorrower may desiGnatc by notice to Lender as provided herein nni!
<br />(hl any notice to Lcrder ;hall be given by certified mail, rcnim receip(. requested, m Lender'; addre;s dated herein nr iq
<br />such other address as Lender may de;ignatr_ be notice to Borrower as~. provided he_reia :any notice provided for in this
<br />Mortgage shall he deemed to have keen given to Borrower or Lender sv~ten given in the manner desienatcd herein.
<br />75. Unifornn Siongage: Governing Law: Severability. T"nis form o'f morteate combines uniform covenants irr na[innal
<br />use and non-uniform covenants •.vith limited variations by yurisdiction ro constitute a uniform se vnt}~ ins[rumant :overing
<br />real property. This Mortgage shall be governed by the law of the Jurisdiction in which the Property is located. [n the
<br />event that any provision or dausc of this Mortgage or the Note amfiicts with applicable law, such conflict shall net affect
<br />other provisions of this Mortgage or tfie Note which can be given effect without the conflicting provision. and ro this
<br />end the provision; of she Mortgage and the Nate are declared to he severable.
<br />16, Borrower's Copy. Aorrower shall he Furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution qr after recordation hereof.
<br />t7. Transfer of the Property; :lssumption. IC all or any part of the Property or nn interest therein is sold or transferred
<br />by Borrower wimout i_enderC prior written consent, excluding lal the creation of a lien or encumbrance suhoniinate u+
<br />this Mortgage. (br the creation of a purchase mone7 security interest for household appliances, Ici a transfer by devise.
<br />descent or by al,eration of law upon the death of a Ioint tenant ar Idl the grant of any leasehold interest n( three scars or less
<br />our containing an option ut purchase. Lender may, at Lender's option, declare all the sums secured h7 this Mortgage m he
<br />immediately due and payable. Lender shall have waived such option io accelerate if. prior to the ;ate or transfer. Lender
<br />and the person u, whom the Property is ;o he sold ur transferred reach agreemem in wridne.that the credit of such person
<br />is satisfacton~ to Lender and that the intereu payable nn the aims ucured by this Mortgage shall he at such rate as Lander
<br />shall reyuest, if Lender has waived the option m accelerate provided in this paragraph 1?, and if Borrower's successor ir,
<br />interest has executed a written assumption agreemer.[ accepted in writing by Lender Lender shall release Aorrower from all
<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. Such notice shall provide a period i+f not less than ?0 days from the date the notice is mailed within
<br />which Borrower may pay the sums ~ieciared due. if eortower fails ro pay such coma prior to the expiration of such period.
<br />Lender may. without further nonce ur demand ou Borrower. invoke an}' remedies permitted by paragraph lS hereof.
<br />Nox-Uxtpot[M CovrxnxTS. Bormwermd Lender further covenam and agree us follows:
<br />IS. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of am covenant or
<br />agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this ~lorfgage,
<br />Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 herw+f specifying: (1) the breach;
<br />(Z) the aetian required to cure such breach; (3) a date, not less than 3G days from Ihr date the notice u mailed to Borrower,
<br />by which such 6r-_ach muss be cured; and (4) that failure to cure such breach on ur beFure the date specified in the notice
<br />may result in acceleration of the aorta secured by this Mortgage, Foreclosnre by jndivial proceednng and sale of the Property.
<br />The notice shelf further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach
<br />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
<br />this Mortgage to be immediately due and payable without further demand and mar foreclose by judicial proceeding. Lender
<br />shall be entitled to collect L. ;uch proceeding ail expenses of foredusure, including, but not limited to, costs of documentary
<br />evidence, abstracts and title reports.
<br />19. Borcowe2s Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have any proceedings begun by Leader tq enforce ;his Mortgage discontinued a[ any time
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