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`~ - ~Q°' Ut~4178
<br />Lender i w•riticn agrcemrnt ar applicable law. Bnr:awer shall pay the amot:nt of aB mortgage insurance premiums in the .
<br />manner provided under oaragraah 2 hereof. -
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become add"etional
<br />indebtedness of Borrower xcured by [his Morgage. t7niess Borrower and i.ettder agree to other terms of payrttsnt, stxh
<br />amounts shaft be payable upon notice from Lender to Batmwer requesting payment thereof, and shat! bear intere~ fmm the
<br />date of disbursement at the rate payable from time to time on outstanding principal under ifit Note artless payment of
<br />interest aE stxh rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest ratt - -
<br />permissibie under applicable law. Nothing contained in this paragraph 7 shall require [.ender to incur eery exptme or tact
<br />any action hereunder.
<br />8. {rsapectlon. Isnder may make or cauu 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 caeca therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages. dirtct or conxquential, in eenrrection with any
<br />condemnation nr a;hcr taking of the Propercy, or patt thermf, or for conveyance in lieu of condemnation; are hereby assigned.
<br />and snail be paid to Lender.
<br />in the event of a total taking of the Property, the proceeds shat( be applied to the sums secured by this Mattgage.
<br />with the excess, if any, paid to Borrower In the evrnt of a partial taking of the Property, unless Borrower and l:.ender -
<br />otherwiu agree in writing, there shall be applied to the sums uwred by this Mortgage such proportion of- [he proceeds--
<br />as is equal to that proportion which the amount of the sums secured by this bfortgage immetifateiy~prior to the'date of-
<br />taking bears to the fair market value of the Property immediately prinr to the dale of taking,-with the balance of the ptaceeds
<br />paid to Borrower.
<br />Tf the Property is abandoned by Borrower. or if, after notice by Lender in Borrower that the condemnor oRets m-maTta
<br />an award a: settle a claim far damages, Harrower fails to resp.and to Lender within 3B days after the-date such, ttetiex is.-- -
<br />mailed. Lender is authorized to collect and apply theproceeds, at Lender's option, either to restoration or-repair of the ~ `~., j
<br />Property ar to the sums secured by this Mortgage.
<br />Unless Lender and Aorrower otherwise agree in writing, any such application of orocceds to principal shall not exlrnd
<br />or postporr the due date rf Ihr monthly installments rcEerred to in paragraphs I and ?hereof or change the amount of ~~~'
<br />' such installments.
<br />10. Borrower Not Released. Extension of the time for payment ar modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower snail not operate fo releau, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shaA mot be required to commence '. ill
<br />' proceedings against such successor or refuse to extend time for payment. ar otherwise modify amortization of the sums „ I
<br />secured by this Mortgage by reason of any demand made by the original 8nrrower and Borrower's successors in. interest. '
<br />IT. Forbearance by '..ender Nat a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />etheru•ise afforded 6y applicable law, shall not be a waiver of or preclude the exercise cf any such right or remedy.
<br />The procurement of insurance or the payment of tares ar other liens or charges by i,ender shall not ere a waiver of Lender's
<br />right m accelerate the maturity of the indebtedness secured t+y this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in Chic Mortgage me riistinct and cumulative in any other right or
<br />remedy under this Tfortgage or afforded by law• or equity, and mar be exrriscd concurrently, independently or successively.
<br />l3. Successors and Assigns Bound; .loin! and Sereral T.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 77 hereof. All caven:mts and agrcements of Aorrower shall be joint and several.
<br />The captions and headings of the paragraphs of [his Mortgage ~ nvcnience only and are no[ to tee used to
<br />interpret or define the provisions hereof. ~ -- ~:p+g
<br />14. Noticr. Except for any notice required under appy' et law.`ta 6c' gixet~,,in another manner, (a) any nmice to
<br />Aorrower provided far in this Mortgage shall be given by m irrg stii:h~~it~f~tc•b~c6tified mail addressed in Borrower at
<br />the Property Address or a2 such other au'dress as Anrmwcgfrrray dcc,g~ale ha'itaF$sll In [.ender as provided herein, and
<br />(h) any native m Lender shalt be given by certified main r ,rn recvivp;-"tff}]'>nstedL E~ fienrizr's address stated herein or to
<br />such other address as Lender may dcsienate by notice to >rnw.~er ttat!1t{td berg. Arrv notice provided for in this
<br />Mortgage shall be deemed to have been given ro P,nrrnwer i~.endtr whci$~iven~i manner designated herein.
<br />I5. Unifoexn Mortgage; Governing E.aw; Srverability. ,iti icxrh°nf mart CJke o mes uniform revenants far national
<br />use and nonuniform covenants with limited variations by jun. a•4ycin to Constf;utet~ uniform security instrument covering
<br />real property. 'iltis Mortgage shall be governed by the law a jnriw'.ie(i'M,r6'~which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note uinRity}s,~plicahle law, such conflict shall not affect
<br />other previsions of this Afortgage or the Note which can be given riTect wiihnut the conflicting provision, and to This
<br />cud the provisions of the Mortgage and the Note arc declared to he severable.
<br />16. 9orrower's Copy. Borrower shall be furnished a cenformCd copy of the Nate :nut of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. 1f all or env part of Ore Prcq+crn• nr an m(crest therein is >edd ar transferred
<br />by jorrower without Lender's prior written Consent, excluding (al the creation of alien nr encumbrance subordinate to
<br />this Mortgage, fb) the creation of a purchase money security interest (or hnuxhnid appliances. {c7 a transfer h}' devise.
<br />descent nr b}• operation of law upon the death of a joint tenant nr
<br />Lender may. at Lender's option, tiecl:uc ::II the sums crc;:red L+y this A7or[gage to be
<br />immediately due and payable. Lender shall have waived such option m accelerate if. prinr m dte role or transfer. lender
<br />:md the person to whom the Property is to be sold nr transferred ;each agrecmem in wnfing that the credit of such person
<br />is satisfactory to Lender and that the interest payable nn the toms xcwed by ibis ~9ongnge shall be at such rate :u Lender
<br />shall request. If Lender has waived the option to accNcrne pnn•ideJ in this paragraph I7. and if liarrawcr•s successor in
<br />Interest has executed a wntien assumption agreement accepted in +ariting by Lender, Lcndcr chap release borrower from all
<br />obligations under this Mortgage and the Note.
<br />]f Lender cxercies such option to accelerate, Lcndcr sh;dl mail }iarn+u cr notice of ar:ekratien in accordance ~•vith
<br />paragraph !4 bocce(. Such notice chap provide a period of not less than 30 d:nc from the date the notice is nwiled within
<br />which Borrower may paY the aims declared due. Ii Aarrnuer tails to p:n' sorb wms print «. the Cspiration of suri~ pcrad,
<br />Lender ma4', without further notice or demand on 13ormu-c r. mcoAC :ut9 rcmediCS pernnucd by paragraph 1 S tierce!.
<br />Nov-UN4FORM Covsrver: rs. Borrower and Lender further covenant :urd agree :ts lullaws:
<br />Ig. Acceleralfon; Remedies. Except as provided in paragraph 17 home!, upon Borrower's bnaa•h of racy covenant or
<br />agreement of Burrower in this M1tortguge, inc}uding the c +enants fn pay when due any s red by this Mortgage,
<br />Lender prior to acceleration shall mail notice fu Borrower as pnrvided in paragraph I4 hereof specifying: fl) the brooch;
<br />{2l the action required to rare such breach; t3) a date, not lees than 1(i days frcuu fhe date the notice is moiled to Barrowrq
<br />by which sorb breach must be cured; and WI that faBtue to cure such breach on or before the date specified in the notice
<br />may result in acceleration of Ihr sums secured by this 91orlgage, foreclosure by judicial pmeerding turd sal' of the Property.
<br />'Ihe notfee shall further infamy Borrower of the right to reinstate after a«~elrralion and Ihr right to :hscrt in the foreclosure
<br />orocerding the nun-existence of a default or any ulfirr defense of Borrower to acceleration and foreclosure. If Ihr brrnch
<br />is not curtd on or before the date specified in the notice. Lcndcr at Lenders option may declare all nF Ihr wms secure) try
<br />ihh Mortgage to br immediatNy due and payable without further demand and may Forerlosr b}' judicial proceeding. Lender
<br />shall be enlAled to caBra in such proceeding a71 expenses of fnreclusure, including, but not limited to, costs of documentary
<br />evidcncr, abstraris and title rr}xrHS.
<br />;9. Borrower's Right io Reinstate. Notwhhstanding Lenders a clertfion ,,f the sums secured by this MorigagC.
<br />Ilurtuwer shall have the 'lent to have any proceedings begun by Lenderto+ ci.Porce thin Mortgage discmdinucd at any un:e
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