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80-r ~D~~~S
<br />Lender's writtev agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner pt'avided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shat! be payable upon notice from Lender to Borrower requesting payment thereof. and shalt bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable taw, 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. inspection. Lender may make or cause to he made reasonable entries upon and inspections of the Property, provided
<br />that Lender sha8 give Borrower notice prior to 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 connection 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 />In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid to Bormwer. 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 secered by this Mortgage such proportion of the proceeds
<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 ro Bon~ower.
<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 fails to respond to Lender within 30 days after the date such notice is
<br />malted, 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 t 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 secured
<br />by 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 shall no', be required to commence
<br />proceedings against such sucwssor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />il. ForlKaranee by sender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded 6y applicable law. shall rot be a waiver of or preclude the exercise of any such right ur remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by [,ender shall not he a waiver of Lender's
<br />right to accelerate the man~rity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumuletfve. 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 be exercised concurrently, independently or successively.
<br />13. Secressors and Assi3las Bound; Joint and Several T,ia67ity; Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph I7 hereof. All covenants and agreements of Borrower shall be joint and several.
<br />'ilte captions and headings of the paragraphs of this Mortgage arc for convenience only and arc not to he used to
<br />interpret or define the provisions hereof,
<br />TA. Notice. Except for any notice required under applicable law to be given in another manner. (a) arty notice to
<br />Borrower provided for in this 41s+rtt;a¢e steal! he liven h:' mailing such notice by ::ertified mail addressed ;u Borrmver at
<br />the Prnpem• :lddress or at such other address as Borrower may designate by notice to Fender as provided herein, and
<br />~_ )any notice to Fender shall be given by certified mail, return receipt requested, to Lender`s address stated herein or to
<br />such other address as Lander may designate by notice to Borrower as provided herein. Anv notice provided for in this
<br />Mortgage shall he deemed m have been given to Borrower or tender when given in the manner designated herein.
<br />I5. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limired variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Nate conflicts with applicable law, such conflict shall nut affect
<br />other provisions of this Mortgage or the Nnte which can be given effect without the conflicting provision, and w this
<br />end the provisions of the Mortgage and the Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shall t+e 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 or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent. excluding (a1 the creation of a lien or encumbrance subordinate to
<br />this Mortgage. (h) the creation oC a purchase money securiq• interest for household appliances. (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant nr fd) the grant of any leasehold interest of three years or less
<br />not containing an option in purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage m he
<br />immediately due and poyahle. Lender shall have waived such option to accelerate if, prior to the sale nr transfer lender
<br />and the person to whom the Property is' to be sold or transferred reach agreement in writing that the credit oC such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request. if i_ender has waived the option to accelerate provided in this paragraph 17, and iF 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 the No[e.
<br />If Lender exercises such option to accelerate. Lender Shull mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is m;+iled within
<br />which Borrower may pay the sums declared due. I( Borrower fails to pay such sums prior to Ore expiration of .uch period,
<br />Lender may, without further notice ur demand on Borrower, invoke any remedies permxtnd by paragraph 13 hereof.
<br />Noa-UwtroaM CovertnNTS, Borrower and Lender tunher covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as prorided in paragraph 17 hereof, upon Borrower's breach u[ any cuvnnant or
<br />agrnenrea! of Borrawnr in this Mortgage, including the covenants to pay wheo doe acv sums secured by this Mortgage.
<br />bender prior fo nccelcration shall ma8 notice to Borrower as provided in paragraph 14 hereof .pacifying: (p the breach;
<br />(2) the adiou required to exre such breach; (3i a date, nut less than 30 days from the dale the notice is mailed to Borrower,
<br />by which such breach mwt 6e cured; and (4) that failure to cure suc7 breach on or before the date specified in the aortae
<br />_may result is acceleration nt [he sums secured 6y this Mortgage, Foreclosure by judicial proceeding and sak of the Property.
<br />'I3e notice shag further inform Borrower of the right to reinstate after aceeleratton and the right fo assert in the foreclosure
<br />procealiug the norr-naistence a[ a default or any Mhnr <kfense of Borrower to ncenlaretinn and foreclosure. If the breach
<br />is not cured on or before the date specified in the notice, Lender at lender s option may declare all of the sums secured by
<br />this Mortgage to be immediately doe cad payable without turlher demarM and may fornclosn by judicial proceeding. Lender
<br />shall be en4tlnd to collect in such proceedfog all expenses of foreclosure, including, but not Ilndted to, costs of documentary
<br />evidence, absiraets ami titan reports.
<br />1®. 1!'-°.:.rRbs's g.~. t its Rsi~ ot.. Natwtthstanding Le, dnr`s sv e;zrationn of the :ums secured by this Mortgage.
<br />Borrower shag have the right to have any proceedings !~gvn by I.ender4ta erfor,:e .his lortgagn cfiscuntinued at any time
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