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<br />Lender's written agreement or applicable law. Borrower shad pay the amount of all mortgage insurance premiums in the
<br />mauaer provided under pazagraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest [hereon, shall become additional
<br />indebtedness of Borrower 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 payab)e from alma to tune 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 require Lender to incur any expense or take
<br />any action hereunder.
<br />g. InspeeBon. 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 io any such inspection specifying reasonable cause therefor related to Lender's
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequentiah in conrrecHon with any
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby anigrted
<br />and shall he paid to Lendet.
<br />in 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 cry, 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 prxeeds
<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 />pa;d m Burrower.
<br />If the Proprrtp is abandoned by Borrower, ar if, after notice by lender to Borrower that the condemnor affen to make'
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after 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 />or postpone the due date of the monthly installments referred to in paragraphs 1 artd '! hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or mtxiifrcation at amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall oat operate to release. in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest Lender shat! oat be required to commence
<br />proceedings against such successor or refine to extend time for payment or othenviu modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Rorrower's successars in interest.
<br />11. Forbearance by Lender Not a Waiver..Any ferhearance by Lender in cxercisine anc right nr remedy hereunder, ar
<br />otherwise afforded by applicable !aw, shall not be a waiver of ar preclude the exercise of anc such right or remedy.
<br />The procurement of insurance or the payment of taxes 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 />12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may he exercised cencurrentiy, independently ar sua-essiveiv.
<br />13. Successors and Assigns Bound; Joint and Several f.iabi)ity; Captions. 'The ceccnants and agreements herein
<br />contained snag hind, and the rights hereunder shall inure to, the respective successars and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agrcemcnts of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage arc for convenience only ;rod are net to he used to
<br />inrerpree or dean"rte the provisions hereof.
<br />L4. Notice. Except for any notice required under applicanlc law to be Given in another manner, ia) any notice to
<br />Rorrnwer provided for in this Mortgage shall he given by mailing such notice•by certified mail addressed to Bnrmwrr at
<br />the Property Address ar at such other address as Borrower ntav tlrsignate by voice r.. Lender as previded herein, and
<br />(b) any notice to Lender shall be given by certified mail return receipt requested. to lenders address stated herein or to
<br />such ether address as Leader may &signate by notice to Burrower as provided herein. Any notice provided for in this
<br />Mortgage shall he deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Unfform Mortgage; Governing Law; Severobility. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limied variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdictior. in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Nate are declared to be 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 after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all o,- any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Martgage. (b) the crea@oe of a purchase money swurity interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three yeah or Icss
<br />not containing an option to purchase, Lender may, at Lender's option. declare all the sums secured by this Martgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate ii, priar to the sale or transfer, Lender
<br />and the person m whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and [hat [he interest payable an the sums secured by this Mortgage shall be at such rate as Lender
<br />shall regcest. Tf Lender has waived the option to accelerate provided in this paragraph 17. and if Borrowers 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 the Notc.
<br />if Lender exercises such option to accelerate. Lender shall mail Barrawer notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not Tess than ."s0 days from the date the notice ix mailed within
<br />which Borrower may pay the sums declared due. If Borzower fails ro pay such Bums prior to the expiration of .+.rdr period,
<br />Lender may, withau[ further notice or demand an Rorrnwer, invoke any remedies prrrnitted by paragraph 18 hereof.
<br />NoN-Urrteoari CovevnNrs. Borrower and Lender further covenant and agree as follows:
<br />lg. Acceleration; Remedies. Except as provided io pacagrrph 17 hereof, upon Borrower's breach of any covenant or
<br />agrcement o€ Borrower in Ibis Mortgage, including the covenants to pay when due any sums secured by this Mortgage,
<br />Lender prior io acceleration shah mail notke to Borrower as provided in paragraph 14 hereof specifying: (1) 16e nrerrn;
<br />(2) the action required to cure such breach; 13) a dote, not leas than 30 days from the date the notice is mailed to Borrower,
<br />by wtt)cb such breach mmsl be cured; and l4) that tallnre to cure such breach on or 6eforc the date specified in the ttotlce
<br />may rtauit in acee&rafion of the sums secured by th::. Mortgage, foreclosure by judlclal proceeding and sale of the Properly.
<br />The aotke shah further snform Harrower of the right to reinstate after uecelarat)on and the right to assert in the foreclosure
<br />proceert_Lng the con-ex=term of a defardt or any athrr defense of Borrower io ueceterrotion uad toreclosure. I[ ire breach
<br />Is oat cured ou of before the daft specified nr the notice, Leader at Lender's option may declare all of the soots secured 6y
<br />tn~ "9,-,~.~a to .be imau-r'.3at~y duo and puyude witnout further drmaad and may Foreclose by judicial proceedi~. Lender
<br />si:~ n,. eot..yut.yr to colt.-rt in stun procaxdittg a!t ezpettses of foreclosure, irtciudntg, but not limited to, coats of documentary
<br />evidence, abstracts and @de rcporta.
<br />39, r~orrowei'e Right io Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgaee.
<br />Borrower shat) have the right to have any prs+ceedings begun by Lender to enforce this Mortgage discontinued at any time
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