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gp~ 1105041
<br />Lender's written agreement or applicable law. Borrower shall pay [he 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 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 6e 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 an ctrtstanding principal under the Nate 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 />permiasi6lc under applicable law. Nothing contained m this paragraph ? shall require Lender to incur any expense or take
<br />any aMian hereunder.
<br />8. Iaspecdon. Lender may make or cause to be made reasonable entries upon end 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 />4. CondemesHtx+. The proceeds of any award or claim far damages, direct ar consequential, io-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 m Lender.
<br />In the even 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. In the event of a part;al taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by [his Mortgage such proportion of the proceeds
<br />as is equal [a 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 immcdiatcly prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower. -
<br />if the Property is abandoned by Borrower. cr if. after notice by Lender to Harrower that [he condemnor afters to make
<br />an award or settle a claim far damages, Borrower farts ro respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to col}ect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured b7 [his Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shah not ez[tnd
<br />or postpone the due date of the monthly instalments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />lA. borrowx Not Released. Extension of the ume for payment or madificatian of amortization of the sums secured
<br />by [his Mortgage gr nted by Lender to any successor in in*.erest of Aorrower shall not operate to release, in any manner,
<br />[he liability of the original Borrower and Borrower's successors in interest Lender shall not he required to commence
<br />proceedings against such successor ar refuse to extend time far payment ar otherwise modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Bormwer and Borrower's successors in interest.
<br />der NM a Waiter. Ane forbearance by Lender in exercising any right or remedy hereunder, or
<br />othe ~ shall oar fie a waiver ..f or preclude the exercise of any such right or remedy.
<br />'p,e - i~~bymcnt of taxes ar other liens or charges by Lender shall not be a waiver of Lenders
<br />right tiNiCitl("tlte~debtedness secured by this Mortgage.
<br />1Z Retaedie Comte. 'X1t iemedies provided in this ',lorteage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may be exercise concurrently. independently or successively.
<br />13. Seecasors attd Assiges hued: )Dint and Several t,iaMTih; Captioes. Tire covenants ,ond agreements herein
<br />contained shall bind, and the rights hereunder shall inure ta. the respective successas and assi¢ns of Lender and Borrower,
<br />subject to the provisions of paragraph 1', hereof. .411 coverants and agreements of Borrower shall t±e joint and several.
<br />'I?,e captions and headings of rite paragraphs of this Mortgage are far comen+ence only and are not to he used to
<br />interpret or define the provisions hereof.
<br />14. Natt~a. Exttpi for any notice required under applicable law to be given in another manner, la1 any notice to
<br />Borrower provided for in this Mortgage shall he given by mailing such notice ht' certified mail addressed to Borrower at
<br />the Property Adthess or at such other address as Harrower may designa,c by notice rn Lender as provided herein, and
<br />fb) any notice to Lender shall he given by certified mail. return race+pt requested. u. Lender's address stated herein or to
<br />such other address as [xnder may designata by natice to Bormwer as provided herein. .Any notice provided for in this
<br />Mortgage shall 6e dtMrrrtd to havr_ txen eiven to Rarmwer or Lender when gn•en in the manner designated herein.
<br />IS. UrsYeraa MoelpRe: GoverwiuR I aw; Severability. This form of mortgage combines uniforn covenants for national
<br />tut and non-uniform eovenams with limited variations by iuriselictian to cattstituta a trot#errtt security instnrment covering
<br />teal property. This Mortgage shall be gevemed M' the law of the iurisdictian :n which the Property is Ixsted. In the
<br />event that any provision ar etause of this Mortgage or the Nnte rnn9icis with applicable law, such conflict shall oat afteci
<br />other provisions of this Mortgage or the Nate which can be given ef[act u~ithnut the conflicting provision, and to this
<br />end tht provisions of tha Mortgage and the 'ante are declared to tx stvarable.
<br />If. /orrowx's Cap); Hermwer shall he furnished a confatmad copy of the Note and of this Mortgage at the time
<br />of exectttart ar afar rtxordatiott hereof.
<br />17. Ttaetx of the >~yt Assamptirm, ti all o: any part of the Property er an tmcrest therein is sold ar transferred
<br />by Borrower without Lender's prior written consent. excluding {a) the creation of a lien ar encumbrance subordinate to
<br />this Mortgage. {b) [he creation of a purchase money security interest for household appliances, !cl a transfer by devise.
<br />descet+t or by open[itut of ]aw upon the death of a joint tenant ar (dt the grant of any leasahnld interest of three years ur less
<br />not rnntaining an option to purchase, Lender may. at Lender'. opuan, dea tare alt the sums secured by this Mortgage to he
<br />immediately dire and payable. Lender sha8 have waived such option to accelerate if, prior to the sale or transfer. Lender
<br />and the pertain to whom the Property is io be sold or transferred reach agreement to venting that the credit of such person
<br />is satisfactory to Lender attd that the inieresi pap•able on the sums secured by this Mortgage sha13 be at such rats as Lender
<br />shag request. [f Lender bas waived the option to accelerate provided in this paragraph l7, and if Borrower's successor in
<br />interest has executtxt a written acsumptiar. a~~ rettnent accepted in writing by Lender. Lender shall release Borrower from ati
<br />obligtlions under this Mortgage and the Note.
<br />If Linder exercises such option to accelerate, Lender shall mail Harrower natice of acceleration in accordance with
<br />patssnph [4 hereof. Such natice shall provide a period of not less than 36 days from the date the ncxicc is mailed w•ithm
<br />which Borrower tttay pay the sums declared due. If Borrauer talk ra pay such sums prior to the expiration of su.h pert xi.
<br />Leader may, without further noti,^e or demarvd an Harrauer.:nvake any remedies permuted by paragraph t g hereof.
<br />Mont-UNttaottuf Covets,tN7s. Harrower and Lender tunhar covenant and agree as follows:
<br />ii. Aecaksaliae: Reasadip. Easepl ac provYed u paragraph 17 hereof, upon borrower's breach of auy corewH or
<br />wt Baftae-ar b/ ibis Msr~e, ieciadiq the coveeaMS fo pay wiea due aey wesa srrtu~d by thin Mor~aga
<br />Curiae pdas M aeealetatia~ sbeb rtUi estioe fo Berrewer as provided ie prragraph 16 hareot sTrr'RyWg: 111 the IrrtacA:
<br />(~ f3a ss'liMt N rasa web 1'areaeb; (31- a date, tat less ilea JO drys trout the dale tht cot&e let teaiied so tot'mwrr,
<br />b>< wild aaleb brpdt sttel w cwatk attd (iI that fatibae to ewe suc- breach oa or before the date specilled in the corks
<br />rstiV. it~Y Y IICtVIisNiYia of tbt sues saCerad 6y ibis MortgaEr, torecbwre by judicial pmteediag and sale aC the Property.
<br />'ltlla tasYee tIW fnaber.ltiarn barwwer of fhr rlgbt a reirMtle athr accekrtlitto and lbe riR6[ fo assert in the twecM-urr
<br />tbs ra~.asiwaate of a dH_ satin ar auy other defeaee of 6orroverr so accekratloa and foreclosure. It the breach
<br />• tai M! cslsai a;a rx balata tba isAr pwRCtiad,~ fbe ttolice, Leader of l.eeder's option may declare all nt the swm srCrtred by
<br />a~i;>~y.~e ~. be Y,dikiy d.e aed peyabk wNbart trrtber deetaad aed asay foreclose by judicial proctvedigl• l.cnder
<br />obi be eritllsi la errraci iw arch p-aceedbtg ail expeasa ut foreclosure, Inekttba~. Met :cot Iletgcd to, costs of docrtntrntary
<br />etilM~tt. trbalrr)ee reel life rgwtM.
<br />111, f~iiwaa4 ~ M Rabs/tKr. !vatwithstanding Lender's acceleration of the runts secured ny thrx Mortgage.
<br />Borrower ~taU b;ve the right to have any proceedings btgun by bender to entorcc rhea Mortgage. discuunnucd at any t:mc
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