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80-~U~859
<br />Lender's written agreemeot or applicable law. Sortower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided undo par ag: aph Z 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 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 [line on outstandin¢ principal under the Note unless payment of
<br />interest at such rate would be contrary [o 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 ~rcquirc Lender to incur any ezpenx or take
<br />any actiow hereunder.
<br />8. inspecrion. Lender ma}• make or cause to be made «asonable 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 Lender's
<br />in[eres[ in the Propem.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or ennsequential, in eonrextion with any
<br />condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of condemnation, are hereby assigrred
<br />and shall be paid to Lender.
<br />In the event of a total takin¢ of the Property. the proceeds shall 6e applied to the sums secured by this MoRgage.
<br />with the excess. if any. paid to Borrower. in the event of a partial taking of the Property, unless Bwrrower 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 bs• this Mortgage immediately prior to the dale of
<br />raking bears to the fair rttarket value of the Property immediately prior to the date of taking. with the balance of the proceeds
<br />paid to Bwrrower.
<br />If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offer to make
<br />an award or settle a claim for damages, Bortower fails to respond to Lender within 30 days after the date such notice is
<br />mailed. Lender is authorized to collet[ and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured by this Morteage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or pos[pone :he due date of the marthly installments referred to in paragraphs I and 2 hereof or chance the amount of
<br />wch instalimrnts.
<br />10. Borrower \ot Released. Earension of the time for payment or modification of amortization of the sums secured
<br />by the Morga¢e grained by Lender to any successor in interest of Borrower shall not operate to release. in any manner,
<br />the Lability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successor or refuse to ez[end time for payment er otherwise modify amortization of the sums
<br />secur_d by this Mortaage by « anon of any demand made by the original Bwrrower and Borrower's successors m interest.
<br />I1. Forbnnnce M Lender Not a Waiver. Any forbearance by Lender in exorcising env right or remedy hercundez. or
<br />otherwise a$ordcd by applicable law, shall not be a waiver of or preclude the exercise of any such right or reined)'.
<br />T.ne 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 tw accelerate the marnrin~ of the indebtedness secured by this Morteagc.
<br />72. Remedies Cutnaiatire. ,411 remedies provided in this Mortgage arc distinct and cumulative to any other right or
<br />«meds• under tots Mortcagc c afforded by law or egwp•, and may he exercised concurrently, independently or successively
<br />13. Successors and Assigns Bound; loim and Several Liabilin•; Capdom. The covenants and agrrments herein
<br />contained shall bind, and the rights hereunder shall inure to, the resoecnve successors and assi¢ns of Lender and Borrower,
<br />subject to the provisions of paragraph 1' herrof. .411 covenants and aereements of Borrower shall 6e joint and several
<br />The captions and headings ni the aaragnphs of this Mwrtgaee are for canven+ence only and arc nwt to be used to
<br />interpret or dedne the provsions hereof.
<br />]4. NMice- Except tot any nauce required under applicable law to be given in soother manner, tat any notrce to
<br />Harrower prav+ded for ro tots Mwrzgare shall he given by marline such nntiet by certt6cd mail addressed *w Harrower at
<br />use Property Address nr at such other address as Barrowzr may designate t+y notice to Lander as provided herein, and
<br />.^.+: a;.': nauce !w Lender shall he given by cerufted mail. return rece+pt requested. tit Lende%s address s[a[ed herein wt *.O
<br />such ether address as lxnder may devgr.ate by nonce to Borrower ax arnv+ded Le:em Any nn[ice orov:dtd foe !n this
<br />Mortgage she!! .e dtcmcd :w ^avc peen c:ver.:o Bwrrower wr Lender when glen in the manner designated herein.
<br />I5. Uniform Marge; Gwvrning Law; Sererahility. This corm wf morteage combines uniform covenants for naunnal
<br />uu and non-+mrwrm .:ov<nants ~w rth !!tuned vanuwm ba iuns.i r. own to cwnsnnue a ~amform secuntt• instrument sve:tne
<br />real protxrty. Phis Mnr+gagr shall be governed by the law of the iunsmcaen .n whtch the Propem n Iwcated (n the
<br />even[ that any prov+s,on or clause of thu Mwrtgagc ar :he vote confl+cts with applicable law such condic^, snail n aiect
<br />ocher provmotn of this Mort;age o: the Note winch can be given elect wrzhout the cwnflmtirg provision- end,to :hex
<br />end the prnv~sions of ?hc S(uagaste and the Note are declared to be severable.
<br />16. Borrower's Copy. Bw;mwcr shall be hrrmshed a conformed copy of the Note and of :his Mortgage at '. n.e trine
<br />or ez ecuuon or rote rreorvati~r hereof.
<br />17. Tnmfer of the Propem~; Assumption. It ail or any part of the Property wr an interest therein +s ,old or samEcrred
<br />by Borrows, ~ wahout Lender', pone wntten consent, excluding tar the creation of a lien or cns:umbrance suM>rd~nate to
<br />tku :Mortgage, :h/ the ct>:auun of a purchase money ses:unty interest for household appliances. !c! a tratnrer 5s dce!se,
<br />descent or 6y operauon of law upon the cloth wt a toms xnant or td) the grant wi any leasehold +n tr.rcst ut :n:<e years or less
<br />not cwmainmg an opuon u> pureness. Lender may, at Lander s opuon, declare ail the sums secured by this Men gage ro tx
<br />immematdy due and aayahir Lender shall have waved such opuon ro acs;clerate :f, poor io the sale nr :nmter. Lender
<br />and cite person to whom the Property n m be sold ur trans(e: red reach agreement in wnnng that the croJit of such pe non
<br />is satisfutory to Lander mfl that the inter-.sr payable un the sums secured by thn Mortgage shall he at ,ueh rate as Lende.
<br />shalt request. Ii Lender hu waved Ilse opuon to accelerate prov+ded m [hex paragraph t7, and d Borrower's successor in
<br />interest hex sxxuted a worsen assumption agreement actapttd m wrtmg by Lender. Lender shall release Bwrcower from ail
<br />ohligauwnx under this Mor'gags and the Note.
<br />if Lander exarctses such o¢nnn [o as:eeiarats, :.cosier .hall mail Harrower nauce of ac.ecleratinn in ~~.,,rdante wok
<br />puagnph 13 herr:af. Such ounce xh:ll Prvvrde a period at not lass than ?0 days from !ht date the naucs :s :hailsd within
<br />which Bwrrower may pay the wins declared duo. If Borrower tads tw pay such sums poor u, the rzpvatum :+t such pcrtod.
<br />Leodar may, wuhaut tureher nonce or demand an Borrower, invoke any remedies permitted l!y paragraph 18 hereof.
<br />Nov.U>vtrwaat COVgHANTS. Borrower and Lender lutther covenant wad agree as follsswr
<br />18. Acceiention; Remes4aa. Except a provided in parwgnph 17 hereof, upon Bwrrower'x Areach o[ any coveasnt ur
<br />agmment of Borrower in ibis Mortgage, ineiuding the covenants to pay when due any sums secured by tea Jiwrtgrae,
<br />Lender prior to acceleration shalt mail swlice to Harrower as provided in paragraph 14 hereof specifying: 11) the hooch:
<br />(2) the action required to can such breach; W) a date, rat lean than 30 does from the dale the notice is mailed ro Bwrroweq
<br />by which such breath mast be cured: and (J) that failure to cure such breach an ur before the dais specified in the rsotice
<br />may rewit in aeeelentian of the sums second by rhia Mortgage, foreclosure by judicial pnsceeding and sale of the Praprm.
<br />The notfce shW further inform Borrower of the right to rtimnie after acceleranun and the right w assert in the Garedosure
<br />proeaadieg the non•eaisttmce o[ a default or any other Aefarae of Borrower to accelentlan and foreclosure. 1[ the breach
<br />b not cured on or befwn the date specified in the notice, Lander at Lenders option may dechn all of the sums second by
<br />thh Mortgage to be immesiiatdy due and payable without funMr siemand and may foredox by judicial proceeding. Lender
<br />shall be entitled to co{kct in such proceeditsg all expenses of forociosan, inNuding, but rtW limited t0. costs of documentary
<br />evidtusee, abstrae~ sxal d#e reports.
<br />14. Borrowers Right to Reitestate. Natwithstandtng Lsndcc'-, aceeteraunn wf the sums secured bi° Nis Mortgage.
<br />Borrower shall have the right to have any proceedings begun by Lender ro enlorce thu Mwngage diss:onunued at any tome
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