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<br />Lender's written agreement or applicable law. Borrower shall pay the amoum of all mortgage insurance pmniuna in the
<br />mamter provided under paragraph 3 hereof.
<br />Any amounts disbtttsed by Linder punuaat to [his paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lendet 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 ftrrm the
<br />dale of disbursement ai the rate payable horn time to time an outstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable law, in which event such amounu shall bear interest at the highest rare
<br />permissible under applicable law. Nothing contained in this parag<aph 7 shall require Lender to tarot any exprnst of take
<br />any action hereunder.
<br />S. 1ffiPrnNoa. Lender may make or cause to 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 related to LrntL.r's
<br />interest in the Property.
<br />9. Condem»adon. The proceeds of any award or claim for damages. direct or cansequerstial, in rnnnection with any
<br />condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of condemnation,~are hereby assigned
<br />and shall be paid to Lender.
<br />1n the event of a total taking of the Properly, the proceeds shall be 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 Propem, 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 Mortga¢e immediately prior to the date of
<br />taking brats 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 notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower faits torespond to Lender within 30 days afrer the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds. at Lender's option. either to restoration or repair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
<br />ar postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amoum of
<br />such instaltmrnis.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />6y this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender she]] not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage 6y reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />11. Foebearantt 6y Lender Vol a Waiver. Any forbearance by Linder in exercising any right or remedy hereunder, ar
<br />otherwise afforded by applicable law, shall t+.ot be a waiver ot- or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxis or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />1Z. Retreedi~ Comnlntive. A31 remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy t{ade, ,this MaS.tgage,ot afforded by law or equity, and may be zsercised concurrently, independently or successively.
<br />- d3. Seecesson and Assigns Hound; Joint and Several LiabiBty: Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure [o. the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 1' i:ereof. All covenants and agreements of Borrower sha13 be joint and several.
<br />71te captions and headings o! [he paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />ld. Vance. Except for env notice required under applicable law to Se given in arsather manner. fa) any notice to
<br />Borrower provided for in this Mortgage steal) be given 6y mailing carte notice by certified mail addressed to Borrower at
<br />the Properly Address ar at such other address as Borrower may designate by notice to Linder as provided herein. and
<br />(b) env notice m Lander shall be given by certified math return receipt rtquested, to Lendc~s address stated herein or to
<br />sums otfier address as Lender may designate by notice to Borrower as provided heron. Any notict provided far in this
<br />Mortgage shall tit deemed m have been given to Borrower or Lender when given in the manner designated herein.
<br />I5. Uniform Mortgage; Governing Law: Sererability. This form of mortgage 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 property. This Mortgage shall be governed by the law of the iurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Na[e conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given affect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Vote are declared to be severable.
<br />16. Borrower's Copr. Borrower shall be furnished a conformed copy o[ the Note and of this Mortgage at the rim;;
<br />of extcution or after recordation hereof.
<br />17. Transfer of the Property: Assumption. [f all ar any part of the Property or an interest therein is sold ar transferred
<br />by Borrower without Lender's prior cartoon consent, excluding (al the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest for household appliances, Ic) a transfer 6y devise.
<br />descant or 6y operation of law upon the death of a joint tenant ar tdt the grant of any leasehold interest of three years or less
<br />not containing an option ro purchase, Lender may, a[ Lender's option, declare all the sums secured by this Mortgage to he
<br />immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer. Lender
<br />and the person ro wham the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Linder and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shat! request. if Lender has waived the option to accelerate provided in this paragraph l7. and iE Borrower's successor in
<br />interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
<br />obligations under this Mortgage and [he Nola.
<br />[f Linder txercists such option to accelerate, Lendtr shalt mail Borrower notice of acceleretion in accordance with
<br />paragraph i4 hereof. Such natct ,hall provide a ptriod of no[ less than JO days from the dart the notice is mailed ;vithin
<br />which Burrower may oay the sums declared due. It Borreuer faits !a pay such ,urns prior m the txpira[ian ~•t :uch penal,
<br />Lf ~dtr may, without further notice or demand on Borrower, invoke any remedies pecnutted by paragraph I g htreof.
<br />NoN-UvrFOa+t Covevaurs. Borrower and Lender turthtr covemmt and egret as fallows~
<br />IS. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Bortowers hreach of any covenant or
<br />agreement of Borrower in this Mortgage. including the covenants to pay when due any scans secured by this Jlorigugr,
<br />Leader prior to acceeration shat! mail notice to Borrower us provided in paragraph la hereof specifying: ll) the breach;
<br />R) the action required to cure such breach: t3) a date. not less than 30 days from the lair the notice is mailed to Burrower,
<br />6y which such breach must be cared; and t1) that Failure to cure such hreach on or before the date specified in the native
<br />may result in acceleration of the Bunts secured 6y this Jlortgage, foreclosure by judicial proceeding and sale of the Yropem•.
<br />The notice sha41 Further inform Borrower of the right to rcinstatr after ae..leratian and the right to assert in the forecloaurc
<br />proceeding the non-existence of a default or any ether defense of Borrower to acceleration and Foredasure. If the hreach
<br />is not cured on or before the date specified in the notice, Lender ut Lender's option may declare all of the sums secured by
<br />this Mortgage to be immatliately due and payable without further demand and may Foreclose by judicial proceeding. Lender
<br />shall Ile entitled to collect in such proceeding all expenses of foreclosure, including, but nut limited to, costs of docwnrn[un
<br />evidence, atntracts and title reports.
<br />19. ''~arra:xtt'S Rie)=e ta 1~ei!'~tate. Nutwi[hstandin>; Lender's acceleraton of the sums secured by [his Mortgage.
<br />Bar: o;vtr shai!'.tave the right to have army proceedings btgun by Lendtr to anfv+rct thi, Mprtgagc Jisaenumicd .it oay r.mt
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