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${~-° ~ i) ~ 418
<br />Lender's written agreement or applicable law. Borrower shalt pay the amount of alt mortgage insurance premiums in the
<br />manner provided under pazagraph 2 ixreof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7, with interest tfiereost, shag become additional
<br />indeb?edttess of Borrower secured by this Mortgage. Unless Hortower and Ixnder agree to other terms of payment, such
<br />amounts shag be payable upon notice from Lender io Boroower requesting payment thereof. and shall bear interest frem the
<br />date of dis6vrsement at the rate payable from time to time on outstanding principal under the Note unless paytrtmt of
<br />interest at such rate would be contrary to applicable taw, in which evert sash amounts shall bear interest at the highest ram
<br />permissible under applicable taw. Nothing contained in this paragraph 7 shag rtyuire Lender to incur any ezpenss or take
<br />any action hereunder.
<br />8. Itrspectirm. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that bender shall give Borrower notice prior to arty such inspection specifying reasonable cause therefor related ro Lender's
<br />interest in the Property.
<br />9. Coademttatloa. T`he prxeeds of any award or claim for damages, direct or consequential, in connection witfi any
<br />condemnation or other taking of the Property, ar 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 total taking of the Property, the prxeeds shall be applied to the sums aerated 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 chat 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 prxeeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 34 days after the date such notice is
<br />mailed, Lender is authorized to coffee[ and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured ny this Mottgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such applicai#on of prxeeds to principal shall not extend
<br />nr postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of
<br />xuch installments.
<br />14. Brrrower Not Relarased. Fxtension of the time for payment o~r madiflcation of amortization of the sums secured
<br />by ibis Martgagt granted by Leader to any successor in interest of Harrower shalt 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 />practedings against such successor or refuse to extend time for 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 />12. Forbearance by Lemur Not a Waiver. Any forbearance by Ixnder in exercising any right or remedy hereunder, or
<br />olherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right ar remedy.
<br />The prxurctnent of insurance or the payment of fazes or other liens ar 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. Remedies Cumula[ire. All remedies provided in this Mortgage are distinct sad cumulative to any ether right or
<br />remedy under this Mortgage or afforded by law or equity. and may err. exercised concurrently, independently or successively.
<br />i3. Suecezaers and Assigns Bound; agent and Serest Liability; 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 !? hereof- .Ali covenants and agreements of ~--rorrower shall >x joint and several.
<br />The captions and headings cf the paragraphs of this Mortgage are for convenience only and are not to fie used to
<br />interpret or dtfire the provisions hereof.
<br />14. Ndice. Except for any notice required under applicable taw to he given in another manner ?a} any notice to
<br />Borrower provided for in this Mortgage shall ht given by mailing such notice by certified mat! addressed is Borrower at
<br />the Property .4ddre<s ur a! such ether address ds Borrower Wray dcsigtrate by native to Lender as provided herein, and
<br />(b7 any notice !o Lender shaii ht given by certified mail, return receipt rcgtresied. to Lender's address stated rte--rain ar to
<br />such ether address as Lendtc may designate by naticr to Borrower as prtovided het•ein. :1ny notice nrovided far in this
<br />Martgagt sl:a',t be d~^ yd t:, have- ; ~g n ~- vtr, to Snrra+ver ar Lcrrdtr when gis~ers in Bite r~tanner Qtsignated fiersin.
<br />75. Uniform Mari;age; GoveroirtB Iaw; SererabBily. 'Ibis form of nrangege combines uniform covenants ter national
<br />use acid Won-uniform revenants ~-vit,*, limited variations by jurisdiction is consGttne a uniform se~unty instrument covering
<br />teat property. lilts Mortgage shat) 6e garerned by the law of the jurisdiction in which the Property is fixated. €n the
<br />event that any provision ar clause of this Aortgage or the Note canHicts with applicable law, such conflict shall oat affect
<br />other provisions of this Mangage or the Note which can 6e given effect without the conlliaing provision, and to this
<br />end the provisions of the Mortgage and the dote xre declamd to be severable.
<br />ld. Borrowers Copy. Boemwrr shall be furnished a conformed copy of the Note and of this Mottgage at the time
<br />of execution ar after rtcarduteon hereof.
<br />77. Tvaasfer of the Property; Assnmpt€on. If all ar any part of the Property nr an interest therein is sold or transferred
<br />by Bortowrr without Lender's prier written consent, excluding lal the creation of a lien or encumbrance subordinate to
<br />this Martgagt, (b) the creation of a purchase money security interest tar housrhoid appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant ar (d3 the gram of any leasehold interest of three years or Icss
<br />rwt containing an option to purchase, Ixnder may. at lender's option, declare alt the sums secured by this Martgagt to be
<br />imnttdiately due and payable. 1_ender shalt have waived such option to aa•rierate it, prier n> the sale or transfer, Lender
<br />and the perms to whom the Property is to he sold ar transferred reach agreement m wrnmg that the credit of such Fx'[san
<br />is satisfactory to fznder and the[ the interest payable on the wine xcurcd h} this Muttgage shall hs at such rate as Ixnder
<br />shat: regrcest. tf i.endsr has waived the option to accelerate nrovided ht efiis paragraph 77, and i( Aartawer's successor in
<br />inttrtst has executed a wri!!en assumption agreement acctpled in writing by i.tnder. Icnder sha(I release Horrower from aB
<br />vbiigatiatts under this Mortgage and tote Note.
<br />If Lender esercists srri:h option to accelerate, Linder shalt mail Borrower naticr of aiakratimt in accordance with
<br />paragraph 14 hereof Such notice sfiall provide a period of not less than lQ days from the Matt tfic notice is mailed within
<br />;for:s.~~~ n°iay Lh;y the scu=.ts ii:.- __ed cue. rf Aarrawer sits to pap suc;s cams prior to ilx expiration nt .ucY period.
<br />€.e;rvder may, wit:`H;ut farther native ar demand ou 3arro-wet, ~tivaY:r any remedies permitted by paragrapfi fig hereof.
<br />Nox-Utvtroant Cavat+eKrs. Horrowcr and Lender :umber covenant and agree as fotiaws-
<br />lb. Aetskratiaa; $tawdiss. Except as prevedsd ea pat~lraph 13 berme, upon $oeruwtrs breach of say covttraffi ur
<br />ag(ea~trd of Harrower is this MarigaRe, YntttsdisA, the co+eaanls to pay when dos say sows secured by this Mortgage,
<br />f.stadar ps#or W acaiermlton siwB mail erotica to Ibrrower as provided in paragraph 14 hsrsef sptxifyiug: (tl the brsach;
<br />tg) rue ~`tian rsired to tare sash breach; td) a date, cwt less titan 3r) days from the date the notice ea rrwiltd to Borrower,
<br />$y witi~:ir such brr~a eruct Ds rrrred: asd (4) that failure to curt xuch breach on or before fhs date specified in the rwttce
<br />*_uay rtsuf4 fe actekaailoa of the soars setursd by this Mortgaits, fortckvure by judiriW Proeeedirtpl sad cats of the Yruprrty.
<br />'f'ire traNty shaft favtlrer safatw Harrower of the right to rtinatatt after atca.Ieratioa ar+d the right to assert in the faretlosure
<br />procetrfhgg the olio-satstetsct of a default ar any nt~r dsitmct of Bvsruwer ro aceeleraibvn and farschuuca. if the tnsach
<br />~ set cared ae~ err otters tlce date speetBed ter ifra twtirs, Leader at t.errder's aptiaa may declare alt of the strrax saluted try
<br />tk~;<4srrt~e to hx lmrssdiaiely dot sad payabk without futihsr riemaad and may foreclose Dy jadiciai pruseediag. Lemur
<br />aBdt bt tatted kr ratFsct fu sued prstssdiag alt saptnaes of farttiosvrc, iwdudtng, bat not Iimitsd to eoMS of decuwsatary
<br />t+ideate, tefratracts ate titer rsparts.
<br />'~~. riw*€r`s t to Reeaslata Nut-vitiasaaasd~ng i tnrler's zasete-rnetan of iht resets a~c,~urcd by ;his Mortgage.
<br />N:*_+r +v:€• ~.~,~s tt h~v; s~ re~r,t _r_. ha4~€ a~a~ _ _~ ~:n':? l.~a.~_, by t „r~4-r ,., _n f:x, __ ifi;~ •;_., gay; u;s..aziir.c..... ~. rnx
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