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$(~-~ t3 04 715
<br />Lender i wriucn agreement or applicable law. Borrower shall pay the amount of a!1 mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts dishursed by Lender pursuant to this paragraph 7. with interest thereon, shall 6ewme additional
<br />indebtedness of -orrower 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 payable from time to time on outstanding principal under the Note unless payment of
<br />-interest at such rate would be contrary to applicable Law, in which event sucfi amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Tinder to incur any expense or take
<br />any action hereunder.
<br />8. Frtspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower natice 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 consequential, 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 mtal 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. ir. the event of a partial taking of the Property, unless Borrower and Lender
<br />othcnvise agree in venting, there shall be applied to the sums secured by this Aorgage such proportion of [he proceeds
<br />as is equal to that proportion which the amount of the sums secured h)• this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior in the Jate of taking, with the balance of the ptrxeeds
<br />paid to Borrower.
<br />tf the Property is abandoned by Barrower, or if. after novice by Lender to Borrower that the condemnor offers to make
<br />an award ar seine 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 called and apply the' proceeds. at Lender's option. either Io restoiatian of repair of the
<br />Praperty or ro the sums secured by this Mortgage.
<br />Unless tender and Borrower otherwise agree in writing, any such. application of proceeds to principal shall nM extend
<br />or postpone the due date of the monthly installments referred to.. in paragraphs 7 and 2 herec: orchange the amount of
<br />such installments.
<br />10. Borrower Vol Released. Extension of the time For pnymem ar madification of amortization of the sums secured
<br />6y.this Mortgage granted by Lender to any successor in imerest of Borrower shall not operate to release, in any manner,
<br />ahc liability of the anginal Borrower and Borrower's successors in interest Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend time for payment ar otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made try the original Borrower anJ Borrower's successors in interest.
<br />] 1. Forbearance by [.ender Not a Waiver. Any forbearance M• Lender in exercising any right or remedy hereunder. ar
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude ;he escrcise of any such right or remedy.
<br />The procurement of insuranre nr the payment of lazes or other liens or charees by i.ender shall not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />]2. Remedies Cumulative. All remedies prmided in this Mortgage arc Distinct and cumulative to anv other right or
<br />remedy under this Mortgage or afforded by law or cquin~, and may he cxerciseJ amcurrently. independently nr suceessively-
<br />73. Successors and Assigns Bound; Joint and Sereral Liability; Captions. Thc cavrnants and agreements herein
<br />contained shall hind. and the rights hereunder shall inure to, the respective sarecessors and assigns nt Lemier :md Borrower.
<br />subject to the pmvisions' of paragraph 17 hereof. All Covenams and agreements of Borrower shall he joint and several.
<br />The captions anJ headings of the paragraphs of This M1tnrtgage arc for mm~enienee ooh' and ore no[ m he used to
<br />interpret or Define the provisions hereof. ;~ -: r--_
<br />14. Votive. Except for anv notice required under applicable law tuAfc given.iro athjher manner, (a) anv notice to
<br />Hnrmwcr pmvtdcd far in this Mortgage shall he riven by mailing sueY4+hoticc i+yv ~cruticd,i~ril address'cd to Barrower at
<br />the P!apcrn~ AJdress ur at such cnhcr address as Bnrrawer rtlty dtsgtnale by anlie^ Icy T.ce^alcr as provided berets, and
<br />ih) app notice to Lender shall he given by certified mad, rr.tum ranei7+fi+reyuested: to 1 ec Jer s~~dJrvss stated herein or to
<br />si=ch caLter address as [_cndcr may designate by notice to Horrcr«cr •,at pea?vitled !icrcrn. any }#otice provided for in this
<br />Ma; tgagc shall he deemed to have been given Ia Borrower c+r 1 cadre sa~hen riven. ip_!h2 mannersjdesign:ved herein.
<br />75. Uniform Dortgage; Governing f,aw; Severabilily. This fortt~i+W mangage cbmhines r9niform tnvenants for national
<br />use anJ non-uniform covenants with IimiteJ variations by jurisdiction•Sa-epnstiurte a uniform security insvununt covering
<br />real propcrry'. 'this Martgagc shall be governed by the law of the ju~ itction in which tits Pmpcr[y is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts`leyli'applida61e.1w. such umflia shall not affect
<br />other provisions of this Mortgage or the Note which can he given effect ~YMNP~ conflicting provision, and to this
<br />enJ the provisions of thn Alorigagc and the Note are Jcclared In he severable.
<br />lb. Burrowers Copf. Borrower shall he furnished a con (armed copy of the Nate and of dtis Mortgage at the time
<br />of exccutii,n or after recordation hereof.
<br />77. Transfer of the Property; Asswnprion. 1(all or any part n( the 1'mperty or an imerest therein is sold or transferred
<br />by Borrower without lender's prior wriucn consent, csduding (:0 thc• creation of alien nr encumbrance subordinate to
<br />this Mortgage, (h) the creat:an a(a purchase money' securiq• interest for householJ appliances, (c) a transter by devise,
<br />descent or by operation of h,w upon the Death of n joint wnant or •
<br />Lender may, at Lender', opdnn. declare all the stuns xttued h}• this Mortgage to be
<br />tmmedia0.9y due and payable. Lender shall have waived such opuon to accelerate if. prior m the sale nr transfer. Lender
<br />anJ the person to whom the Properl}' is to he solJ or IransferreJ reach agreement in writing that Iho creJit of such person
<br />is satislacton• n, LCnJer and that the interest payable on the sums arcurrd by thk Mortgage shall he nt such talc as Lender
<br />shall rcyucst. If lender has waived the opuon to nccclerate procideJ iu this paragraph I7. ;uul if Borrower's aun-esxor in
<br />interest has executed a wriucn assumpuon agreemem ucceplcA in ++rinng by Lender, Lender chnll release Borrower from all
<br />obligations venter this Martgagc and the Nate.
<br />N Lender osereises such option to accelerate, I ender shall mail Borrower notice of aceelm~auon in pea+nlanee with
<br />paragraph 14 hereof. Such notice shall ;xrevidc a period of not less than 30 days from the date the notice is matte) wid±in
<br />.vhieh Borrower may pay the sums declare) dun. II Bnrro+cer tails to p:n' such sums poor to Ilte et pirati~m of such perutJ,
<br />LcnJer may, without further notice ur demand on Borrower, invoke any renwdics pcnniucd by pavagraph i E hereof.
<br />Noi-Urvtroµxt COVBNAN't5. Borrower and L_cuder further cnven:un :md agrca ,+s follows:
<br />i8. Acccleralion; Remmdies. F.zcepl as provided iu paragraph 17 hereof. upon Itorrv+wer's breach of any covenant or
<br />agreement of Burrower in this Mortgage, including the euva•nmtts to pay when due any soots secured by this 111or1g.,,e,
<br />tinder prior to accelerolfon shall mail nalice to Borrower us provided in purugruph i-1 hereof specifying: (q the breach:
<br />(2) the action required to cure such breach; (31 a dale, ool less than 311 days from the date the notice is moiled to Borrower,
<br />by which such breach must be cured; and (4) that failure to cure such breach on or trefore 16e dale specified in the notice
<br />may result in acceleration of the sums secured by This Mortgage, foreclosure 6y judicial proceeding mnl sale of the Properly.
<br />The notice shall further inform harrower of the right m reinstate after acceleration and the right lu assert in lbe foreclosure
<br />proceeding the non•ezislence of a default or any other defense of Borrower m aceelerolion :md foreclosure. If the breach
<br />is not cured on or before the dale specified in the notice, Lender al Lender s nptian may drelure all of the sums secured by
<br />th{s Mortgage to he immediately due and payable without further demand smd may foreclose by judicial proceeding. Leader
<br />shall be enlilled to collect in such proceeding a8 expenses of forerlosurr, including, but not Limited to, costs of documentary
<br />evidenec, nbstrucis and title repaAS.
<br />79. Borrower's Right to Reinslale. Notwithstanding Lenders nccelernhun of the sums secured h}• this Mot tgage.
<br />ILUrtow•er shall have the right m have any proceedings hagun h) Lender In enforce this Mont~nge discontinued .~, any nmc
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