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<br />Lender's written agreement or applicable law. Borrower shall pay the amount of al! mortgaxe insurance premiums in [he
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant [o this paragraph 7. with interest thereon shall become additional
<br />indeb?edness of Borrawer 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 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 law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall Tequire Lender to incur any expense or take
<br />any action hereunder.
<br />8. Inspection. Lender may make er cauu to be made reasonable entries upon and inspections of the Property, provided
<br />that Ixnder shall 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 am award or claim for damaees, direct or consequential. in connexion with any
<br />condemnation er ocher taking of the Property. or part thereof. ar for conveyance in lieu of condemnation. are hereby assigtted
<br />and shall he paid to Lender.
<br />Zn the event of a tarn] taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if am•, paid to Borrower. 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 Aiartgage immediateh• prior to the date of
<br />'taking bears to the fair market value of the Propem• immediately prior to the date of takinx, with the balance of the proceeds
<br />paid to Borrower.
<br />Zf the Propem}• is abandoned by Aorrower. or ii. after notice by Lender to Borrawer that the condemner offers to make
<br />an award or settle a claim for damaees. Borrower fails tc respond ro Lender within 3(1 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds. at Lender's option. either ro resrnntion or repair of the
<br />Property or to the sums secured M• this Mortgage.
<br />Unless Lender and Barmx'er ether wise agree in writing. anc such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthh• installments referred m in paragraphs 1 and 2 hereof or change lire amount of
<br />such installments.
<br />30. Borrower Not Released. Extension of the time for paymem or medificatien of amenization of the sums secured
<br />by this Mortgage gran*.ed b}' Lender to an_v successor in interest of Borrower shall not operate to release. in any manrxr.
<br />the iiabilin' of the original Borrower and Borrower's successors in interest. Lender shall rot he required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modif}• amortization of the sums
<br />secured by this Diettgage by reason of any demand made by the eri¢inal Aorrower and Borrower's successors in imerest.
<br />11. Forbearance by Lender NM a Waiver. .4nv forbcarancc by Lender in exercisinc arty right or remedy hereunder. or
<br />otherwise afforded by applicable law_ shall not he a waiver of er preclude the exercise of any such right or remed)•.
<br />The procurement of insurance or the payment of rases or other liens or charges h7 Lender shall not he a waiver of Lenders
<br />ri¢ht to accelerate the maturity of the indebtedness secured by this biongage.
<br />12. Remedies Cumulative. All remedies provided in this biort¢age are distinct and cumulative ro am• other right or
<br />remedy under this hlor[gage or afforded b7 law nr equiq•. and map he exercised concurrently. independently or successively.
<br />i3. Successors and Assigns Bound: Soint and [eceral Liability: Captions. The covenants and ae: cements herein
<br />contained shall bind, and the rights hereunder shall inure io, the respective successors and assigns of Lender and Borrower.
<br />subjtct Io the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Dlertcage arc for cotrvenience anh' and art not to be used to
<br />interpret or define :he provisions hereof.
<br />14. Notice Except for any notice required under applicahk law' m he given in anorher manner. ta} any native to
<br />Borrc war provided for in this Mangage shall be given by mailing such notiu by certified m. it addressed to Borrower at
<br />the Property Addre=_s or at such other address as Borrawer may designa2 by notice m !_ender as provided herein, and
<br />env notice 'a Lender sSall be aivef~ by certified mail. retain receiat reaueted. to Lender's address r,-,tev' herein or t~
<br />such other address as 1-ender may designate by notice to Borrower as provided her:.in .4n}' notice provided for in this
<br />Mortgage shall be deemed 'o have been given to Borrower or I-ender when given in the manna designated herein.
<br />15. Uniform Mortgage: Governing Law; Severabilih~. "this form of mortgage combines uniform mvcnants for national
<br />vu and non-uciform cmenants with limited variations by jurisdiction to c:+,nsuuue a uniform securin• instrument covering
<br />real property. This Mortgage shall be governed h}' the law of the lunsdictian in x~hich the Property is located. In the
<br />event that any' pmvis~on ar clause of this Aiertgage or the Nee conflicts with applicable tau'. such conflict shall not affect
<br />other provisions of this Mortgage ar [he Note which can he given efieci without She mnflicung provision, and to [his
<br />end the previsions of the Mortgage and the Nate are declared to be severable.
<br />16. Borrowers Copy. Borrower shalt be furnished a confirmed copy of the Note and of this Manga¢e at the time
<br />of execwion or after retordation hereof.
<br />17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold ar transferred
<br />by Borrower without Lender's prior writen consent, excluding iu) the creation if a lien nr encumbrance zuberdinatc to
<br />this Mortgage, (b) the creation of a purchase money security intcresl for household appliances, (c) a transfer by deviso.
<br />descent ar by operation of law upon the death of a joim tenant ar Id) the grant of any leasehold incerest if three years or less
<br />not containing an option to purchase, [.ender may, at Lender's option, declare all the sums secured by this Mortgage m txe
<br />immediately due and payable. 1-ender shall have waived such option to accelerate if, prior n, the sale nr transfer. i.ender
<br />and the person to whom the Property is to ire sold or transferred reach ;+greemeta in writing that the credit of such person
<br />is satisfactory to Under and that the interest payable on the sums secured by this Mortgage shall he at such rate as Lender
<br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's stcceswr in
<br />interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from al!
<br />obligations under this Mortgage and the Note.
<br />I( Lender exercises such et+tinn to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a pe:igd of not less than 3(l days from the date the notice is mailed within
<br />which Borrawer may pay the sums dulared due. if Borrower fail io pay such sumx pr tar to the eapirat:an of =a:h pznad,
<br />Lender may, without further notice or demand on Borroucr, invoke any remedies pcnnrtted by paragraph 18 h~rcot.
<br />Noxt-UNIFORM CoveNear's. Borrower and ixnder further covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as proyidtd in paragraph 17 hereof, upon Borrower's breach of any covcuatu or
<br />agreement of Borrower in this Mortgage, including the cgsxnants to pay when due any sums secured b} this ~turtgage,
<br />Lender prior to acceMration shall mail notice tq Borrower as provided in paragraph 14 boost[ specifying: (1) the breach:
<br />(2) the actfan required to flue such breach; (3I a date, not less than JU days from the date the notice is mailed to Bgtroser,
<br />by which such breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice
<br />may result in accelewtigo of the Sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the 1'ropeRy.
<br />The mtiee shall further inform Borrgwer of the rry;ht to reigstate after acceleration and the right tq assert in the fgresaoturc
<br />proceeding the nqo-existence n[ a default or any other dePease of Borrower to acceleration and foreclosure. if the hearth
<br />is not eared on or before the date specified in the notice, Lender at Lenders option may declare a6 of the sums secured b}
<br />thix Mortgage to he immediately due and payable without further demand and may foreclose by judicial proceeding. Lender
<br />shall be entitled to collect in such proceeding all ezpettses of foreclosure, including, htrt nut limited tin costs of documenian
<br />ertdence, abstracts and title toppers.
<br />err ,s R~hi to Rei:enate. ... r:ithst;,ndirg iend4r's ..cieration it the . ~.,.. red h} his Rfartgagc.
<br />1larraw4 shall hove t~~a -ighi to ha.a any pr..::eedings :.egun oy tcrd:., i:, t:an.,~ :h;a .... rig., g;~.:i~seonnuue., ~, .~„~
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