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... gp,.~,094993
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in [he
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest theceon, shall become additional
<br />inJcbtcdncss of Borrower secured by this Mortgages Unless Borrower anJ I_enJer 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 pa3•able from time to time on outstanding principal under the Note unless payment of
<br />interest m such rate would be contrary to applicable law, in which even[ 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 expetrse or take
<br />any action hereunder. -
<br />8. Inspection, Lender may make or cause to 6c made reasonable retries 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 Lender's
<br />interest in the Property.
<br />9. Coodemnafion. The proceeds of any award or claim For damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or (or conveyance in lieu of condemnation, are hereby assigned
<br />and shall he 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 Borrower. Tn the event of a partial taking of the Property. unless Borrower and Lender
<br />other-vi<_c agree in writing, there shall be applied to the sums secured 6y 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 to Borrower.
<br />If the P:o~rty is abandoned by Borrower, or if. after notice 6y Lender In 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 />mailed. Lender is authorized to collect and apply the proceeds, at T_snder`s option, either to restoration or repair of the
<br />Propen)~ nr to the sums secured by this Mortgage.
<br />Unless I_rnder and Borrower olhenvise 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 ] and 2 hereof or change the amount of
<br />such installments.
<br />ig. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mongage 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 imcrest. Lender shall not be required to commence
<br />proceedings against such successor or refuse In extend time far 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 />11. Forbearance by Lender Not a Waiver. Any forbearance by Lcndcr in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable taw, shall no; br a waiver of or preclude the cnercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shaii not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. .411 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 m:ry he exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shaii bind, and the rights hereunder shaii imrte M. the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. Ali covenants and agreements of Borrower shall be joint and several.
<br />The rtplions and headings of the paragraphs of this Mortgage arc for com•enicnce only and arc not to be used to
<br />imerpret or define the provisions hereof. ••
<br />24. Notice. Except far any notice required under applicable law .u be given in'another inanncr, (a) any notice to
<br />Borrower provided for in this Mortgage shaii hr given by mailing such nnticd by certified mail iad$ressed to Borrower at
<br />the Prupetty Address or at such ether address as Borrower may designate try notice to Lender as ,provided hereitt, and
<br />(b) any nctirc is Lerde,- shall he uiven he certified mail. return rtocipt reotiestrcl. to L.gltder's addres$ stated herein or t.
<br />such other address as Lcndcr may designate by notice to Borrower as provided herein..4tiy notice provided for in this
<br />Mortgage shat! he deemed to have been given to Borrower or Lcndcr xehen ;given in the..manner destggated herein.
<br />15. Uniform Mortgage; Governing Law; Severabflity. 'this form of moiagtngc combines uniform Mvcnants for national
<br />use and non-uniform covenants with IimiteJ variations by jtvisdiction to constitute a uniform security instntmcm covering
<br />real property. This Mortgage shall he governed M• the law of the jurisdictitrq,, iirwhich the. Pioptlrry is located. in the
<br />event that any provision nr clause of this Mortgage nr the Note conflicts with ajfgLicaMe".law, such conllict shall not affect
<br />other provisions of this Mortgage or the Note which ran be given effect withrnit`~ihe-~niflcting provision. and to this
<br />end the provisions of the ivtortgage and the Note arc declared to he severable.
<br />lb. Borrower's Copy. Borrower shall he fltntisheD a conformed copy n( the Notc and of this Mongage at the time
<br />of execution or after recordation hereof.
<br />17. Trans[er of fhe Property; Assumption. 1(all or any port of the Property or an intercu [herein is sold e r transferred
<br />by Borrower without Lender's prior wriucn consent excluding (a) the creation of a lien or cneumbrance subordinate to
<br />this Mortgage. (h) the creation of a purchase money securiq~ interest Inc household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or
<br />Lender may, at Lender's option, declare all the sums secured by this Mongage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior io the sale nr transfer, Lender
<br />and the person to whom the Property is to he solJ or tnnsferreJ reach ngreemrnt in +aritinG that the credit of such person
<br />is smis(aeton~ to I ~•nder and that the inicrest payable nn the sums secured by this Mortgage sh, it be at such rate as I_rndrr
<br />shaii rcyuest. If Lender has waived the option to accelerate proviJcD in ibis paragraph 17, and iF Borrower successor in
<br />interest has execute) a 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 nation to accelertte, Lcndcr shall mail Borrower notice of acceleration in accordance with
<br />paragraph ld hereof. Such notice shall provide a period of not less than 30 days (ram [he date the notice is mailed within
<br />which Borrower may pay the sums Declared due. If Bnrrvwer fails m pay such sums prior m the expiration of wdi puiod.
<br />Lcndcr may. without further notice ur demand on Borrower, invoke any remedies permitted by paragraph IR hcreoi.
<br />Not+-UNteoaxt CoveNnnas. Harrower and Lender further covmm~l anJ agree as follows:
<br />18. Acceleration; Remedies. Except us provided in pamgreph i7 hereof, upon Hormwer's 6rcach of any covenant or
<br />•agreement of Borrower in this 49ortgttgr, including the covenants to pay when due unp scans secured by this 111odgagq
<br />Lender prior to acceleration shall met! notice to Borrower as pros~ideil in paragraph 14 hereof specif)ing: (1) Cho breach;
<br />f2) the action required to cure such breach; (3) a date, not less than 30 days from the date the notice is nmiled rn Borrower,
<br />6y which such 6rcach must be rtoreil; and (4) that failure to cure such breach on or before dte dale specified in the notice
<br />may result in acceleration of the stuns secured by this Mortgage, foreclosure by judicial proceeding and sole of the Property.
<br />The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />proceeding the nonexistence of a default or any other dcfettse of Harrower to nccelarntion and foreclosure. If the breach
<br />is not eared on or be[ore the date specified In tF.e notice, Lender at Lender's option may declare all of the sums secured 6y
<br />Ibis Mongage to he immediately due and payable without further demmtd acrd nosy foreclose by judicial proceeding. Lender
<br />shall be entitled to collect in such proceeding all expenses of fnrecirtsttre, inrlnrling, hot not limited tn, costs of documentary
<br />evidence, abslmcls and tide reports.
<br />19. Hareower's Right to Reitrstair. ~.onvithstnnding Lender's acceleration of fhe sums secured by this Rfongage,
<br />Borrower shall have the right io have any proceedings begun by Lcndcr m etdorce this h1ongagc discontinued at any time
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