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$0-- ~3 ~) ~~ ~ 3 7 Lender's written agreement or applicable law. Bortower shall pay the amoum of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with ;merest thereon. shall become additiotrat indebtedness of Borrower secured by ibis Mortgage. UNess Borrower and Lender agrce to other terms of paymem, stxh amounts steal! be payable upon notice from Lender to Borrower requesting payment thereof. and shag bear inwreu from the date of disbursement at the rate payabie from time to time on outstanding principal under the Note unless paytnesit of - interest at such rate would be contrary to applicable law, in which event such amounts shag bear interest at the highest rate permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspecfion. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lendtx's interest in the Property. 9. Condemnation. The proceeds of any award or claim for dama¢es, direct or consequential, in connection with any condemnation or other taking of the Propene, or pan thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage. with the excess, if an}'. paid to Borrower. In the event of a partial taking of the Propem•, unless Harrower and Lender otherwise agree in writing, there shall be applied to the sums secured by this Mongage such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of ~takina bears to the fair market value of the Property immediately prior ro ;he date of taking, with the balance of the proceeds paid to Borrower. If the Property' is abandoned by Borrower. or if. after notice he Lender to Harrower that the cc ndemnor offers t~ mx4e an award or settle a claim for damages. Bortower fails to respond to Lender within 30 days after the date such notice is mailed. Lender is authorized to collect and apply the proceeds. at tinder i option. either to restoration or repair of the Property or to the sums secured b7 this Mortgage. - Unless Lender and Borrower otherwise agree in writing. an7 such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs ?and 2 hereof or change the amount of such installments. 10. Borrower Not Released. Extension of the time for payment nr modification of amortization of the sums secured by this Morteage granted by Lender to an_v successor in interest of Aorrower shalt not operate to release, in any manner, the liability of the orieinal Borrower and Borrower's successors in imerest. Linder shall not be required to commence proceedings against such successor or refuse to extend time for pa}'ment or otherwise modify amortization of the sums secured by this Mort¢age by reason of any demand made by the orieinal Borrower and Borrowers successors in interest. 71. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising an7 right or remedy hereunder, or etherw~ise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or ether liens or charges hg Lender shall not he a waiver of Lenders right to accelerate the maturity of the indebtedness secured M' this Mongage. 12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy tinder this Mortgage or afforded by taw or equity. and may he exercised concuranth'. independently or successively. 13. Successors and Assigns Bound: Joint and Several Liabiiityp Captions. The covenants and agreements herein contained shall bind..and the rights hereunder shall inure te. the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph ? hereof. All rnvrnants and aereements of Borrower shalt be joint and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to he used to interpret or define the provisions hereof. ~~. Notice. Except for am' notice requirzd under applicable taw to be given in another manner. ial any notice to Borrower provided for in this Mortgage shall be given by mailing such orrice by certified mail addressed to Borco:ver at the Property Address yr at such other address as Borrower ma} designate by nrnicr tv Lender as provided herein. and (bj any notice to Lender shall be given h}• certified math return rtceipt requested. to Lender's addr-ss stated herein or to snort other address as Lender may designate by notice to Borro:er as provided herein. Any notice provided for in this Mongage steal! 'r,^, deemed to have been given to Borrou•cr cr Lender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law: 5everabFlifv. This form of mottgage combines uniform covenants for national use and non-uniform covenants with limited variations by junsdiuion to constitute a uniform security instrumem mooring real property. This Mortgage shall 6e governed by the law of the jurisdiction in which the Property is located. In the event that an}' provision or clause of this Mongage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage yr the Notr which can be given effect without the conflicting provision and to this end the provisions of the Mortgage and the Note are declared to be severable. 16. Borrower's Cop}'. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recordation hereof. Ii. Transfer of the Property; Assumption. I( all or any part of the Property or an interest therein is sold or transferred by Borrower without Lender's prior written consent, excluding tai the creation of a lien or encumbrance sut+ordinate to this Dfortgage, (b) the creation of a purchase money security interest for household appli:mces. (c) a transfer by devise. descent or by operation of !aw upon the death of a joint tenant or ld) the gram of nnv Icaschold interst of three years or kss not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be immediately' due and payable. Lender shall have waived such option to accelerate i(, prior to the °~le or transfer Lender and the person to whom the Property is to be sold or transferred reach agreement in carting that the credit of such person is satisfactory to Lender and that ,§r interest payable on the sums secured by this Mortgage shat! he at such rate as Lender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's sucttssor in interest bas executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Mortgage and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph la hereof. Suer notice shall provide a period of not less than 30 days Irom the date the notice is mailed within which Borrower may pay the sums deciartd due. I[ Borrower fads io pay such xums prior to the expiration of such period. Lender may, without further notice or demand nn Borrower, imwke any remedies permitted Ly paragraph t S hereof. Nov-UNtroaxt Coven.+trrs. Borrower and Lender further covenant and agree as follows: I8. Acceleration; Remedies. Except as provided in paragraph l7 hereof, upon Borrower's breach of an}~ covenant or agreement of Borrower in this Ntortgage, including the covenants to pa} when due amp sums secured by this Mortgage, Lender prive to acceleration shall mail notice fo Borrower as provided in paragraph t4 herevi specifying: (1) the breach; ;2) the action required fo cure such breech; (3) a date, not less than 30 days frmn the date the notice is incited to Aorrower, by which such breach must be cured; and (i) that failure to cure such breach nn or before the date specified in the notice may result ht acceleration of the sums secured by this Mortgage, foreclostve by judicial proceeding and sale of the Yropertc. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in Ihr foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foredosure, if the breech is not cured on or before the date specified in the notice, L.cnder at Lender's option mar deJure all of the sums secured by This Mortgage to be immediately due and payabie without further demand and ma} foreclose by judicial proceeding. Lendrr sha1F be entitled fv coBeet in sucFr proceeding nit expenses of foreclosure, including, but not limited to, costs of documentan eridencr, abstracts and fide reports. 19. Borrower's Right to Reinstate. Notwithstanding L,ender's acceleraton of she sump. s cured h} this Mortgage Borrower shall have the right to hove any proceedings begun M' Lender io enforce thn Morcacc~.iuaxninued ~t ant nm~