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8[34- ~ C) 4 315
<br />Lender's wriucn agreement or applicable taw. Borrower shalt pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shag become addieionat
<br />indebtedness of Borrower secured by this Alongage. Unless Borrower and Lender agree to other terms of payment, such
<br />amoums shall be payaEslc upon notice from bender to Borrower requesting payment Ihercof. and shall hear imerest from the
<br />date of disbttrsement at the niz payable from time to time on outstanding principal under the Note unless payment of
<br />-interest at such rate would be contrary Fo applicable law„ in which event such amounts shall bear inures[ at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shat! require Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upan and inspections of the Property, provided
<br />that Lender shat) give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim (or damages, direct or consequentiah in connection with any
<br />condemnation or other taking of the Property, or part [hereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />in the ever.[ of a total taking of the Property, the proceeds shall t+e applied to the sums secured by this Mortgage.
<br />with the czcess. if any, paid w Borrawer. In the event of a partial taking of the Property, unless Rorrowcr and Lender
<br />otherwise agree in writing, Iherc shall he applied to the sums secured by ihs Mortgage such proportion n( 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 />taking bears to the fair market value of the Property immecliatcly prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />it the Property is abandoned by Borrower. or if. after notice t+y Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim (or damages. Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed. Lender is authorized to collect and apply the ~procccds. at Lender's option, either to restoration or repair of the
<br />Propery or to the sums secured by this Mortgage.
<br />Unless Lender and Darrower otherwise agree in writing. any such application of proceeds to principal shall eat extend
<br />of postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof ar change the amount of
<br />such installments.
<br />10. Borrower Nol Released. Extension of the time for payment nr modification n( amortization of the sums secured
<br />by this Mortgage granted by Linder to any successor m interest of Barrnwc: shall not operate to release, in any manner,
<br />the liability of the original Barrowcr and Bormwer'x successors in tole rest. Lender shall not ba required [n commence
<br />proceedings a¢ainst such successor or refuse to extend Gme for pavmenr nr otherwise modify amnrtizatian of the sums
<br />secured by this Mortgage by reason of any demand made M• the nrieinal Borrower and Borrower's successors in interest.
<br />11. Forbearance by Ixnder Nn[ a Waiver. Any (onc~arancc hp 1_ender in exercising any right nr remedy hereunder, or
<br />otherwise afforded by applicable law, shall net be a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the ,naymcn[ of taxes ar other Dens or charges by [.ender shall not he a waiver of lender's
<br />right to accclcrate the maturity a( the indebtedness secured hp this '`torteage.
<br />12. Remedies Cumulathe. .411 remedies proridrd in this Mortgage arc distinct and nrmulafive to nm- other right or
<br />remedy under this Jior!gage ar afforded by law or ryuiq'. and mac he exercised :nncurrenlly, independently nr successively.
<br />13. Successors and Assigns Sound; Joint and Several Liahiliry•: Captiw7s. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure ta, the respectis'c successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall hr joint and sevaral.
<br />The captions anil headings of the paragraphs a( this Mortgage arc fpr-convenience only and arc not to he used to
<br />interpret or define the provisions hereof.
<br />14. Notice. £xccot for any notice required under applicabic law to i'e ,riven in another manner, in) any notice to
<br />Rorrowcr provided far in this Mortgage shall he given by mailing such notice by cer tificd mail addressed to Borrower nt
<br />the Pmperty Address or at such other address as Rnrrrwrr nay designate by notice tr. Lender as provided herein, and
<br />(h) nny notlcc to Lcndcr shall be gi ;cn by ccnificd mail, rcnrm receipt requested. m I.cnder's adeiress stated herein or to
<br />sorb other address as Lender may designate b}' notice to Barrowcr as provided herein. ;ny..nouce provided for in this
<br />Mortgage shall be deemed to have beC^ givrn Ia Barrowcr nr I ender a-hen gncn in the manner designated herein.
<br />li. Uniform Mortgage; Governing Law; Severability. This 6mn of mortgage combines uniform covenants for national
<br />use :md non-uniform covenants with limited variations by jurisdiction to coaslnme a uniform security instrument covering
<br />real property. '('his Mortgage shall be govenmd by the law of the lurisdininn in which ihr Property rs located. In the
<br />event that any provision or clause of [his Afartgage or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note n•hich can be given e(ira svithout the conflicting prnaisian. and Io this
<br />end Ihr provisions a( the hfortgage and the time arc Jeclarcd to he werraMe.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy nt the Nntr and nl Ihiv Mortgage nt the time
<br />oC eaeaaian ar after recordation hereof.
<br />77. Trnnstrr of the Property; Assumption. If all or an) part of the Pmpcrty nr :m interest therein is sold nr transferred
<br />hY (ierrower without Lendcr•s prior wri0en consent, excluding tq the creation of a lien or encumbrrncc subordinate to
<br />This Mortgage, jb) the creation of a purchase money security interest for household :yipliancas. Icl ^ transfer by devise,
<br />descent nr 6y operntian of law upon the dtath of a joint tenam or
<br />Lcndcr m:q•, ut Lender's option, declare all the sums >ecured he this Af ortgagc to be
<br />immediatel}• due :utd payable Lender shall bare waived such option In anrleruc iL prior m the sale or transfer Lcndcr
<br />and the person to whom the Property is to he sold nr transferred reach agncnrent in stetting th:d the credit of sari, person
<br />is sstisfactory to I ender and that the interest payable on the sums secured by this lvt ortgage ,hall be at sus~ir rule a, Lender
<br />shall rcyucst. If Lrnder has waived the opunn to accelerate prm'ided in this paragrn ph 17.:mJ it Borrower's successor in
<br />interest has exerwed a wnnen assumpua^ agreement accepted in writing 6y Lcndcr. I ender .bail :a•Irase Borrower Irom nIl
<br />obligations under this Afartgagr and the Note.
<br />I( l.endes exercises such nptinn to accelerate„ (.ender shall mail Rorrowcr nonce +d .r srlrruuon a .reeordanee with
<br />paragraph Id hcra±f. Such no!:cr shall provide a p<riod of not less than ?p .. Ga;n d;e ,late the rr.+lia• i. ,.r:;ilcd sridun
<br />whiet: D++rrnw cr may pay the sums der hued due- 11 Rorrowcr (ails u, pas' sneh 'sums pr:..r I~r the expir a!hvr : ~+u; h per:ud,
<br />Lender :nay, without further nubie rr demand nn Burrower, invoke any nrnedres permn:rci M paragraph I + Imreot.
<br />NUN-L!Nlruk xt ('aVt: rVA NTS BnnaW er and Lrndrr fnr'111ef enti'frl;nn ;ntd .igne ,r~ I:+IaW-~'.
<br />IX. Aerclcratlan; Remedies. Except as provided in paragraph I7 hereof, upan Bnnowcr's beach of any cos enuut nr
<br />agreement of Borrawer hl this Skulgagt, includink the covenmas In pav when due one- Hums second 6y this JiotlgnF_,
<br />l.tnder prior Io acceleration shell mail notice to 8nrrower as pmvitlcd in parag spb la hereof spedf)ing: (II the breach;
<br />fZ) the action required to cure surh breach; (J) a dote, not less than 311 days From the date the uutlcr is mailed lu Borrower,
<br />by which such breath must be cured; and t41 that failure to cure such hrcarh mr or beGrrc the Jate specified in the nol4•e
<br />may result in nceeleratioa of the sums ucured by this ~IongaRe, foreclosure by judicial pnn-eeding and sale of the Properly.
<br />•fhe notice shat! further inform Borrower ut the right to air»lute after acceleration and the right to assert in the foreclosure
<br />proceeding the non.extstenee of a defnuif or any other defense aF Ilorruwer to acceleration and foreclosure. If the breach
<br />Is nut cured on or bcfure the date specified in the notice. ],ender at Lender's nptinn may declare all of the sums secure) by
<br />this Mortgage to be itmnedinlely der :red payable without further demand and may foreclose by judicial proceeding, Lender
<br />shag be entitled to coBert in surh proceeding aB expenses of foreclosure, inchu8ng, but nor limited to, costs of documm~tan
<br />evidence, abstracts and fine reports.
<br />14. Borruwer"s Right to Reinstnle. Notwithstanding Lender's acceleraton of the sums zceunvl by chi. Mortgage,
<br />Borrowet shall have the right in have any pnxeedings begun by Lender to cu Po,rt-c ihrc Mortgage disconunued er ans roue
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