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Form 8Q& B ~~®
<br />~~3536~
<br />Lender's written agreement or applicable law. Bottower shad pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Leader pursuant to this paragraph 7, with interest thereon, shall become zdditional
<br />indebtedness of Borrower secured by this Mortgage. Unless &orcower 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 ai 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 />tt. inspaction. Lender may make ar cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lender shall give Borrower notice prior [o any such inspection specifying reasonable cause therefor related to Lender's
<br />infetest in the Property.
<br />9. Condemnatton. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of [he Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigtted
<br />and shah 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 Borrower 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 secured 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 to Borrower.
<br />If the Property is abandoned by Borrower, or iF, after notice by Lender to Aorrower 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 [o collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />Peopeery ar to [he sums secured by this Mortgage.
<br />Unless Under and Borrower otherwise agree in writing, any such application of proceeds to principal shalt not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />fl0. Borrower Not ileleased. 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 not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Mcrtgage by reason of any demand made by the original Borrower and 8orzowers successors in interest.
<br />ll. Forbearance by Lender Nor a Waives Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right ar remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Idemedies Cumulative. At! remedies provided ir. this bortgage are distinct and cumulative to any other right or
<br />remedy tinder this Mortgage or afforded by law or equity. and may he exercised concurrently, independently or successively.
<br />i3. Successors and Assigns Bound; Joint and Several Y,iability; 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 17 hereof. .All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for com'enience only and are not to he used to
<br />interpret or define the provisions hereof.
<br />'i4. Notice. Except for any notice required under applicable taw to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address ar at such other address as Barrowcr may' designate by notice to Leader as provided herein, and
<br />(bi nay notice m Lender shalt he given by certin'ed mail, return receipt rcque~sted, to Lenders address stated herein or to
<br />such other address as Lender may designate by notice to Harrower as provided herein. Anv notice provided for in this
<br />..".lartage shat; h,:. cem~d .., .....~.. e.. ,.; Bcrr.^,wer cr Lender :-hen given i.. 'he m~.nner design tad !:train.
<br />I5. Unifo¢m Morlgagep Governing-L.aw; ,SeverabAily. 7}tis form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants w~iih limited variations by jurisdiction m constitute a uniform security instrument covering
<br />real property. 'I7tis Mortgage shall he governed fey [he law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable taw, such conflict shall oat a$ect
<br />other provisions of this Mortgage or the Nose which can he given effect without the conflicting provision, and ro this
<br />end the provisions of the Mortgage and the Note are declared to he severable.
<br />Yti. Aorrowers Capy. Harrower shall be 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 Peoperiy; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without I_endzr's prior written consent, excluding (a) the creation of a lien or encumbrance suherctinate to
<br />this Ivfortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death o[ a joint tanant or id} the gran[ a( any leasehold interest of three years ar less
<br />no[ containing an option to purchase. Lender may, at Lender's option, declare alt the sums secured by this Mortgage to be
<br />immediately due and payable. lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person nt wham the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender urtd that the interest payable on the soots secured by this Ivtortgage shall he at such rate as Lender
<br />shall request. If bender 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, Linder shall release Aorrower frmn all
<br />obligations under this Mortgago and the Note.
<br />If Lender ekercise~s such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph id hereof. Much notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which .Harrower may' pay the sums declared due. It Borrower fails io pay such sums prior to the expiration of such period.
<br />Lender may, without further notrce or demand on Barn>wer, invoke any remedies pennitteJ t>y paengreph 1 S hereof.
<br />NoN-UNiroant Cnvntanv~rs. Borrower and Lender further covenant and agree as tallowy:
<br />fo. Aeceteration; Remedies. Lxcept as provided in paragraph t7 hereof, upon Borrower's breach of any covenant or
<br />agreement of Aorrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage,
<br />Lender prior to acceleration shalt mail notice to Aorrower us provided iu paragraph t4 hereof specifying: IL) the breach;
<br />(2) the action required to cute such breach; i3) a date, nut less than 36 days from the date ehe notice is mailed to Aorroweq
<br />by which suclr hrea@t tnusi be cured; and f4) that failure to cure such breach on or before the dale sptrciifed in the notice
<br />may result in acceleration of Ilte sums secured by this Mortgage, foreclosure by jndiciai proceeding and sale of the Property.
<br />The notice shall further iuform Borrower of the right to reirsfate after acceleration and the right to assert in the foreclosure
<br />prnceeddng the non-existence of a dxfauit or any other defers:: of Aorrower to acceleratfon and foreclosure. If the breach
<br />is not cured on ur before tha date specified in the notice, Lender ai Lender s option may declare alt of the sums secured by
<br />this Mortgage to he hnmediateiy due and payable without further demand and may foreclose by jndiciai proceeding. Lender
<br />shalt be eulltIIed to collect in such proceeding ail expenses u[ foreclosure, including, but nut limited to, costs of documentary
<br />evideucc, ahstracls and title reports.
<br />isi, Barrower'F Might fo Ileiustute. Natwithsianding Lender's accelerator n[ the soots se vrcd by this Mortgage,
<br />t?orr~vvr sha. y„e t,.~ ° ~ ,,, .,a,e as;y pr-titiY ngs begs; ~ !ender ~~. ,.r:force .hu ..",lartgage discaet.nu~d R, any tints
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