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$~-°° ~0461~ Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall became additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Ixnder agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requestin¢ payment thereof. and shalt bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of interest at such rzte would be contrary to applicable law, in which event such amounts shalt bear interest at the highest rate permissible under applicable law. Nothing contained in this para¢raph 7 shall require Lender to incur any expense or take any action hereunder. S. Inspection. Lender may make or cause to be made reasonable entries upon and inspeMions of the Proptriy, provided that Lender shall give Borrower notice prior to an}• such inspection specifying reasonable cause therefor related to 1:.ender's interest in the Property. 9. Condemnation. The proceeds of any award or claim for damaees, direct or consequentiah in connection with any condemnation or other taking of the Property, or part thereof, or for com•eyance in lieu of condemnation, are hereby anigned and shall he 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 any. paid to Borrower. 7n the evens of a partial takin¢ of the Property. unless Borrower and I-ender otherwise agree in writine, there shall 6e applied to the sums secured by this Mortgage such proportion of the procetds as is equal to that proportion which the amount of the sums secured by this Dfortgaee immediately prior to the date of taking bears to the fair market value of the Pmpem• immediately prior to the date of taking. with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor otftrs to make an award er settle z c!zim for damages. Borrower fails to respond to Lender within 39 days after the dare sunk notice is mailed. Lender is authorized to collect and appl7 the proceeds. at Lender's option. either to restoration or rzpair of the Property or to the sums secured b}' this D1on¢age. Unless Lender and Borrower othen~•ise agree in writing. any such application of p: oceeds to principal shall not extend or postpone the due dare of the monthl}~ installments referred to in paragraphs 1 and ^_ hereof or change the amount of such installments. 10. Borrower Not Released. Extension of the time for payment or modiftcation of amortization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner. the liability oC the orieinal Borrower and Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor er refuse to extend time for payment or otherwise modify amortization of the sums secured by this Diortgage 6y rezson of any demand made by the orieinal Borrower and Borrowers successors in interest. I1. Forbearance by Lender Not a R'aiver. Any forbearance by Lender in exercisin¢ any rieht or remedy hereunder, or otherwise afforded by applicable taw, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the oaymenr of taxes or other liens or charges by Lender shall not be a waiver of Lender's right in accelerate the maturity of the indebtedness secured by this Af ongage. 12. Remedies Cumulative. Alt remedies provided in this D7ertea¢e are distinct and cumulative to any other right or remedy undo: this Mortgage or atiorded l+y law or equirv. and ma}• he exercised concurrenth•, independently or successively. 73. Successors and Assigns Bonnd: Joint and Several Liabilih; Captions. The covenants and agreements herein contained shall bind. and the rights hereunder shall inure to, the respective successors and assigas of Lender znd Borrower, subject to the provisions of paragraph l . hereof. All covenants and agreements of Borrower shall he ioint 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 [he provisions hereof. I4. Notice. Fsctpt ter any notice required under applicable law to he given in another meaner, (a) any notice to Borrower provided for in this ASort¢age shall be given by mailing such notice by certifted mail addressed to Borrower at [he Property Addtess nr at such other address as Borrower rosy designate by notice to Lender as Provided herein, and (h) ar:c notice to Lender shall be given hp certified mail. return receipt requested, m Lenders address stated herein er to -uth other addres; as Lender rosy dts'anate by ,-price to Barmwer as provided herein. Anv notice provided far in this Mortgage shell be deemed to have been given to Borrower or Lender whin given in the manner designated herein. 75. Uniform Mortgage; Governing Law: Sertrability. This form of mon¢age combines uniform covenan>_s for national use and non-uniform covenants with limited variations by iurisdictiun to constitute a uniform security instrument covering real property. "1-his Mnngage shall be governed b}• the law of the iurisdicuon in which the Property is located. In the event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such confiicr shall oat affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this end the provisions of the Mortgage and the Note arc declared to he severable. 16. Borrower's Copy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time of execution or after recosdation hereof. 17. Transfer of the Properi}•; Assumption. If all or any part of the Properq nr an interest therein is sold or transferred by Borrower without Lender's prior cartoon consent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (h) the creation of a purchase money security interest for household appliances, (c) a transfer by devise, descent or by opsration of law upon the death of a joint tenant or (d) the gram e( any leasehold interest of three years or less not containing an option to purchase, 1-ender 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 sale or transfer. Lender and the person to whom the Property is to he sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured 6y this Mortgage shall be at such rate as Linder shalt request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumption agreement accepted in writing 6y Lender. Lender shall release Borrower from all obligations under this Mortgegc and the Note. If i_ender exercises such option to aceelerate, Lender shall moil Borrower notice of acceleration in accordance with paragraph 14 ha,tof. Su:h notice shall provide s period of nut ]z;s than 30 days frertt the date the rotic+: is :uailtd within which Hormwer may pay thn sums declared due. if Borrower fails ra pay such sums prier to the cxpiratinn of such period, Linder may, without firrther notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. Nox-UNIFORM Covexnxrs. Borrower sod Lender further covenant and agree a5 follows: 18. Atctieratlon; Remedies Except as provided in paragraph 17 herept, upon Borrowers breach of env tovtoant or agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by ibis Mortgage, - Lender prior to ateekration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date, not Tess than 30 days trmn the date the Holier is mailed to Borrower, by which such Drench must be cured; and (4) that failure to cure such breath on or before the date specified in the notice may result in acceleration of the sums secured by this Mortgage, foreclosure 6y judicial proceeding and sale of the Property. The notlce shalt farther inform Borrower of the right to reinstate after acetlentian and the right to nvstri in th< forecoosure proceeding the nun-existence of a default or any other Aefertse of Borrower a; acceleration and foreclosure. if the breach is not cured on ar before the dale specified in the notice, Lender nt Lender's option may declnrc all at the soots secured by this Mortgage to 6e immediately due and payable without further dnnand and may foreclose 6y judicial proceeding. Lender shall be entititd is layoff is such proceeding cif expenses of Eoretlosnre, includsng. but nm limited to, costs of documtniary evidence, sltstracts and tltlt reports. 19. Borrower's Right to Reiariate. Notwithstanding Lender's acccleraton a( the sums secured by this Mortgage. Borower shall have the right to have any proceedings begun by Lcndtr to enforce thu Sforigage disconunued at any time