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<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amoun*s disbursed by Lender pursuant io this paragraph 7. x-ith interest thereon, shall become additional
<br />indebtainess of Borrower secured by this Mortgage. Unless 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 tear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal tinder the Note unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shat! bear interest at the highest rate
<br />permissible under applicable taw•. Nothing contained in this paragraph 7 shad require Lender to incur any expertse or take
<br />any action hereunder.
<br />&. Ittspeetion. Ipndzr may make or cause to be made reasonable curries upon and inspections of the Property, provided
<br />[hat Lender shat! give Horrower notice prior to any such inspection specifying reasonable cause therefor related to Ixnder's
<br />interest fn the Property.
<br />4. Condemaation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Properly, or parr thereof. or for conveyance in lieu of condemnatiors, are hereby assigned
<br />and shall be paid to Lander.
<br />!n the event of a meal taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid to Bortower. 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 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 />Poking ixars to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid tc Borrower.
<br />If rite Property is abandoned by Borrower, or if. after nrnice by fender to Borower that the condemnor offers [o make
<br />an award or settle a claim for damages. Aorrower faits to respond to i_ender within ,0 days after the date suchnotice 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 Mortgage.
<br />Unless fender and Horrower otherwise agree in writing. any such application of proceeds to principal shall oat extend
<br />or pns[ponz the due date of the monthly installments referred to in paragraphs 1 and ? }tereaf or criange the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension nt the time for payment or modification of amortizz[ion of the sums secured
<br />by this :2lortgage granted by fender to any successor in interest of Burrower shall not operate to re1easz. in any manner.
<br />the liability of the arigmai 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 payment nr otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of am' demand made by the original Borrower and Borrower's successors in interest.
<br />il. Forlcearance by ixnder Not a R'aiver. .Anv forbearance riv Lender in exercising env tight ar remedy hereunder, or
<br />otherwise aBcrded by applicable law. shall not he a waiver of or preclude the exercise of any such right or remedv.
<br />The procurement ofinsurarltfit7!'tire 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 M11or(gage are distiret and cumulative tc env other rieht or
<br />remedy under this Mortgage or afforded-lrV taw or equity, and maV be exercised concurrently, independently' or wccessivet}'.
<br />13. Successors and .4ssigres Bound; joint and Several i.iabilityy Captions. The cavenaats and agreements herein
<br />contained shall hind, and [he rights hereunder shall inure to, the rexpeclive successors and assigns of I-ender and Borrower.
<br />subject to the provisions cf paragraph 17 hereof. All cavenan[s and agreements of Aorrower shall he jam[ and several.
<br />The captions and headings of the paragraphs of this Mortgage are ter convenience only and arc not to he used ce
<br />interpret or define the provisions hereof.
<br />14. :Votite. Except for anV [mute required under applicable haw m he elver, in :mother manner, (al env notice to
<br />Borrower provided fo,- in this Mortgage shah be giver. by mailing such rotiec by certified mail addressed to Romrwer at
<br />the Pro;rz.^.q• ,4ddress ar al ,.act; other address as Aorrau•er may designate h}• notice !n i-coder as nrm•ided F.erein, and
<br />(b) any notice to !.ender shall he given by certified main return receipt requested. to Lenders address scared herein nr to
<br />such other address as ].ender may designate M• native to Barmwcr as provided herein. Any notice provided for in this
<br />Mortgage shall he deemed to have been given to Borrower nr 1 ender when given in the manner designated herein.
<br />15. L7niform hfortgage; Governing Law: Severability. This form of mortaaee a+mbinrs undorm covenants for nation:d
<br />use and non-uniform covenants with limited vanaticns by jurisdiction to constiune a uniform secunty instrument covering
<br />real property. This Mortgage shall be governed by the law of the utrisdiction in which the Property is located. In the
<br />event that any provision ar clause of this Mortgage or the Note conflicts with applicable law. such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can he elvers zRcct without the conflicting provision, and to this
<br />end the provision of the Mortgage ::nd the Note ore declared to be severable.
<br />16. Borrowers Copy. Borrower shall bz funtished a conformed copy of the Nate and of this Mortgage at the time
<br />of execution nr otter recordation hereof.
<br />17. Transfer of the Proper: •: AssumpGan. I( ail or any nart of the Property or an interest therein is Bald rn transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance suho; dinate to
<br />this P.lorigage. (h) the creation of a purchase money security interest (nr household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the death of a loin tenant or Idl the grant oC any leasehold interest of three years ar less
<br />not containing an npdon to purchase. Lender may, at lenders option, declare all the sums secured by dtis mortgage to he
<br />immediately due and payable. i ender shaft have waived such option u, accelerate if, prior to [he ,a!e or transfer, i.ender
<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 7_ender and that the interest payable on the =.ums secured by this Mortgage shall be ¢t such rate as I-ender
<br />shall reyuest. if ].ender has waived the opuo,+ ro accelerate provided in this paragraph 77, and if Borrowers successor in
<br />interest has executed a written assumption agreement accepted in +vriting by Lender. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />IE !..ender exercises such opuan W accelerate, Lender shall mail Ran~ower notice of axelerution in :a~cordauec with
<br />paragraph 14 hereof. Such notice shall provide a period of not loss than i0 days from the date the notice is nxuird uithi:e
<br />which Borrower may pay the sums declared due. if Borrower fails to pay such sums prior to the expiration of such period.
<br />Lender may, without further notice ar demand on Horrower, invoke any remedies permitted h}' paragraph 1R hereof.
<br />Note-1Jrvtti=oa+r Cr;vertnrvrs. Horrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies. F,xeept as provided in paragraph 17 hereof. upon Borrower's breach of aay envenom or
<br />al6raemeai of narrower in ibis Mortgage, ineinding the covenants to pay wben due any sumo secured by chic ~forlgaKe,
<br />Lettdee prior to acceleration sbaA rtmil notice fo Borrower es provided in paragraph 14 hereof specifying: (1) the Arearh:
<br />(2) the action regtired to cure such 6rench; (3) a date, nut less than 30 days from the date the notice a mailed to Borrower,
<br />by which such breach must fie cured; and (4) [bat failure to cure such breach an or before the date sped&d in the notice
<br />may resort in aceekralion of the sums secured 6y this Mortgage, foreclosure by judtclal proceedittg and sale of the Property.
<br />The notice shall farther inform Borrower of tbe right to reltretate after accelerafian and the right to assert in the foreclosure
<br />proceeding the ttan~eaistence of s default or any other defense of Borrower to aeccleration and foreclosure. IE the brettch
<br />i& trot cored on or lerfore the date specified !n the notice, Lender at Leader's option may declare nll of the sums secured by
<br />tle® Marigtsgc to ba ~mxdiaiely dce and payahk without fariber demand an3 tray foreclose by judicial proceedittK. [.coder
<br />shalt x est'tt!<d to ralR..t in such prorecdirsg a6 eapeases of fareriasttre, inciurAttg, but not 1!mlted to, casts of documemary
<br />evidence, abstracts and 1We reports.
<br />i'3a Borrower's Right !a Refttstate. Notwithstanding Lender's acceleration of the arms secured by this Morto~:[gc.
<br />Aorrower shalt have the right to have any proceedings begun by ixndcr to enforce this Mortgage discan[inucd at any ume.
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