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<br />Lender's written agreemrnt or applicable law. Borrowp shall 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, wish interest thereon. shall become arldi6omal-
<br />indeb!edness of Borrower secured by this Mongage. Unless Borrower-and Lender-agrce to other temts of .payment, sash
<br />amounts shall be payable upon notice from Lender to Bortower requesting payment thereof, and shall-bear interest from the'
<br />date of disbursement at ?he rate payable from time to time on wtstandiog principal under tht Note unless paytrtmt of-
<br />interest at such rate would be contrary to applicable law, in which event Bitch ::mounts shalt ixar interest at the highest: rare
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expttttst ar ttilte-
<br />any action hereunder. -
<br />8. Inspection. Lender may make ar cause m 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 cause therefor aerated to Lender's--- - -
<br />interest in the Property. -
<br />9. Condemnation. The proceeds of any award or dsim for damaees, direct or consequential, in connection wiik any
<br />condemnation or other taking of the Property, or pan thereof, or for conveyance in lieu of condemnation,'am hereby assigmai-
<br />and shall be paid to Lender. - _
<br />In the event of a-total taking of the Property, the proceeds shall 6e applied to the sums secured by this Mortgage,:
<br />with the excess, if any, paid to Borrower In the event of a partial taking of the Property, unless Borrower a:~d-I,ersder- - -
<br />aheru•ise agree in w•riiing, there shalt be applied to the sums secured by this Mortgage such proportion of theproceeds- _
<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 immediately prior to the date of taking, with the balance of the proceeds.
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or if. after.no:ice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for dama¢es, Borrower fails to respond to Lender within i0 days after the date such antics is
<br />mailed, Lender is authorized to collect and appty the proceeds. at Lender's option. either to restoration or repair of the -
<br />Property or to the sums secured by this Metteage.
<br />Unless Lender and Borrower otherwise agree in writing, arrv such application of pmmeds to principal shall rtot extend
<br />or postpone the due date of the mon[hly installments referred to in paragraphs 7 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secssred.
<br />by this Mongage granted 6y Lender to am• successor in interest of Borrower shall not operate is release. in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successor m refuse to extend time for payment or ethern•ise modify amortization of the srtans
<br />secured by this Mongaee by reason of any demand made h}' the original Borrower and Borrowers successors in interest.
<br />il. Forbearance by Lender Not a Waiver. Any forbearance by 7_ender in exercising anq rieht or remedy hereunder. or
<br />otherwise afforded by applicable law. shat! not be a waiver of or preclude the exercise of any such right or remedy.
<br />The p: ocurement of insurance or the payment of taxes or ether liens or charges be Lender shall oat he a waiver of Lender's.
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. Atl remedies provided in this lfottgaee are distinct and cumuiativc to any other right or
<br />remedy' under this Mortgage or afforded 67 law or equity. end may he exercised concurrentiv. independently ar successivefy.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Capfions. The covenants and agreemen[s herein
<br />contained shall bind.~and the rights hereunder shall inure to, the respective successors and assiens of Lender and Borrova~r,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Harrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mongage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Natiee. Except for any notice required under applicable law to be given in another manner, la) any notice to
<br />Borrower provided for in this Mortgage shalt be given by mailing such notice by cetti5ed mail addressed fn Borroutr at
<br />the Proptrty Addres< ur at such other address as Barrowtt mac designate by notice to Lender as prm•ided hectic,, and
<br />(b) any notice to Lender shall he given by certified mail, return receipt requested to Lenders address stated herein or io
<br />such other address as Lender may desigra:c ty notice to Barmwtr as provided herein. An}' netitY provided for in tats
<br />Mortgage shall be deemed to have betr, givtn to Borrower er Lender when given in the manner designated herein.
<br />75. Uniform Mortgage; Governing Law; Severabilify. This form of mortgaae combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real propern•. This Mortgage shall be governed by the law of the iurisdictinn in which the Propem+ is located. In the
<br />event that any prevision ar clause of this Mettgage or the Note conflicts with applicable law, such conflict shall oat affect
<br />other provisions of [his Mortgage or the Note which can be aiven ettect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or niter recordation hereof.
<br />17. Transfer of the Property; Assamplion. If all ar any pan of the Property or an interest therein is sold nr transferred
<br />by Borrower without Lender's prior writmn consent, excluding fat the creation of a lien ar encumbrance subordinate to
<br />this Mortgage, (b) the creation nr a purchase money security ininrest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or {di the gram of any leasehold interest of three years ar less
<br />not containing an option to purchase, Lender may, at Lenders option, declare alt the sums secured by this Mortgage to be
<br />immediately due and payable. Lander shall have waived such option to accelerate if, prior to the sale ar transfer, Lender
<br />and the person to whom the Property is to he sold or transferred reach agreemem in writing that the credit a[ such person
<br />is satis(actary to Lender and that tht inarest payable cn the sums secured hti this Mortgage shall he at such rate as Lender
<br />shall request. if Lender has waived the option ao accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest has executed n written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />if Lender exercises such option to aceelerate, Linder shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Svsh nati;,e shall previdt a period n( not less than '6 days from the date the notice i; mailed within
<br />which Borrower may pay the sums declared due. [f Borrower fails ro pay such sums prior to tha expiration r. such period,
<br />Lender rosy, without further notice or demand on Borrower, invoke any remedies permitted h}• paragraph 18 hereof.
<br />Nox-L1NIFORM Cavewr,*+ts. Borrower and Lender further envenom and agree as tulbws:
<br />18. Aceeleratioa; Rtmedies. Except as prorided in paragraph t 7 hereof, upon Borrower's breach of any covenant m
<br />agreemtnt of Borrower in this Mortgage, Including the covenants to pay when due any sums secured by this Morigape,
<br />Lender prior to acceleration shall mail rmlfte ro Borrower as provided in paragraph 14 hereaC specifying: (1) the breach;
<br />(2) the action required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrow-eq
<br />try which such breath must be cured; and (4) that (allure to cure such breach wt or btfore the date specified in the nodice
<br />may result in acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property.
<br />The notice shall further inform Borrower of the right to reinstate after actderation and the right to assert En the toredosare
<br />proteedirtg the non-existence o[ a default yr any other defense of Borrower Io acceleration and foredosurc. If the breach
<br />is not cured on or before the dale specified in the notice, Lender al Lender's option may declare alt of the sums secured by
<br />this Mortgage to he immediately due and payable without further demand and may foreclose b} judttial proceeding. l.ertder
<br />shsE! L'e enEitkd !v cv!lett in such proceeding at! expenses of foreclosure, including, but not limited fo, costs of dvrumeoiarr
<br />evidence, abatracls and tit)e reports.
<br />t9. Borrower's Right !o Reinstate. Notwithstanding i_endcr's acceleration of she sums secured h} this Morrgspc.
<br />BoROwer shalt have the right to have any proceedings begun b} Lender io enforce this ~torigage disnnwoucd at an} rnu:
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