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<br />~30-~ x05436
<br />Lender's written agreement or applicable law. Borrower shat: pay the amount of ail mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amoums disbursed by Lender pursuant to this paragraph 7, with interest thereon, shsli become additional
<br />- indebtedness of Borrower seemed by zhis'Mortgage: Unless Borrower and Lender agree to other terms of payment, such
<br />arnounts shah be payable upon notice from Lender-to Borrower requesting payment thereof, and shall bear interert from the
<br />date of disbursement at the race payable- from time to time on rnustanding. principal under the Nate unless paymeat of
<br />- interest at such rata would be contrary to applicable-law, in-which event such amounts shaA bear inEeresf at the highest't•ate-
<br />permissible under appiicabfn taw. Nothing contained- in this paragraph T shalt require Lender to incur any expenx or fake
<br />any action hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
<br />that Lander shalE give Borrower notice print to any such inspection specifying reasonable cause therefor related to Lenrier's-
<br />interestin the Property.
<br />9. Condemnation, The prncctds 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 condemnazion: are-hereby assigned
<br />and shall 6e paid to Lender. ~ -
<br />In the event of a total taking of the Property, the proceeds shall be applied to the Burns seatred by this Mortgage,--
<br />with the excess, if any. paid to Borrower. In the event of a partial faking of the Property, unless Borrower andLertder
<br />otherwise agree in venting, there shall be applied to the sums Bleared-by this Mortgage such proportion of the proceeds
<br />as is equal ro 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 Propert}• is abandoned by -orrower. or if, after notice by I~nder to Bormwec that the caademnor olftrs-ao;itake -
<br />an award or settle a claim for damages, Borrower fails to reapond.to Lender within 30, days after the date such ,notice is
<br />mailed. Lender is authorized to collect and apply the proceeds, at Lender's option; either td restoration or tr;pair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shaft not extend
<br />or postpone the dac date of the monthly installments referred to in paragraphs 1 and 2 hereofor change the, atnountof
<br />such installments.
<br />- 20. Borrower Not Released. Fatension of the time for payment or modification of amortization of the.surns secured
<br />by this Mortgage granted by fender to any successor in interest of Borrower shah eat operate to release, in. any,mantier;
<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 ar refuse to extend time far payment or otherwise modify amortization of the sums
<br />secured h}• this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
<br />77. Forbearance by Lender Not a Waiver. Any forbearance by fender in exercising any right or remtdy hereunder, or
<br />otherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the pavment of saxes or other liens or charges by Lender shall not be a waiver of Lenders
<br />right to accelerate the maturity of the indebtedness senrrcd by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and aemulative to any other right or
<br />rernedt• under this Mortgage or afforded by law or equity, and ma}' he exercised concurrently, independents}' or successively.
<br />t3. Successors and Assigtes Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall hind, and the rights hereunder shall mare m. the resncrtive strrressnrs and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 11 hereof. All coven:uus and agreements of Borrower sfiall be joint and several.
<br />The captions and headings of tht paragraphs of this Mortgage art for convenience only and arc eat to be,ased [o
<br />imerpret or define the provisions htrcef.
<br />I~. Notice. Exctpt for any notice required under appiicahir law m he givrn in another manner. (a) any notice to
<br />Barmwcr previdtd Ear in this Mortgage shalt he given In° ::railing such naiirc F, certified mail addressed to Borrower at
<br />the Property Address ~r at uch ittcr address as Borrow r may dear)_n to by notiee_ta, i,cnder as provided herein, and
<br />(bi ens nonc_ a t.c..:.t to-r .,. ~ „v ctrl-fi d moil, rctrrrn recd [ ,e~tt~sjef"t, tn. i.endtr's address stated heroin or to
<br />such ether address as L-. der may dr.-i?rrate ny n-t,~:_ ta--t)rraw~;r a;F txpsttla--ct herein. Any notice provided for in this
<br />Mortgage sha31 tx dtemcd to base been given m -nrrnw~er or-T.Fn3cr-svhen.gigen in the manner designated herein.
<br />l5. Uniform Mortgage; Gavernurg Law; Severability. This'funrt of mnngage combines anifonn rnvenants for national
<br />use and non-uniform covenants with limited variations by juricdiclian to constitute a uniform ucurity instrument covering
<br />real property. This 'dortgage shaft be governed by the law of the iurinlicuon in which the Property is located. to the
<br />event that any provision ar clause of this Mortgage or the Note conflicts.with applicable law, such conflict shall not affect
<br />other provisim» of this Mortgage ar the Nate which can he given ctierr without the conflicting provision, and to this
<br />aid the provisions of the binrtgage and the *lute are dcrlm'ed to he severable.
<br />16. Borrower's Capy. -orrower shall he furnished s conformed copy of the Noe and of chi, Mortgage at the time
<br />of execution or :(ter recordation hermf.
<br />27. Transfer of the Properly; :lsswnµtion. if all or any part of the Property or an +merest therein is sold or transferred
<br />by Burrower without Lender's prior written consent, excluding (a) the creation of a Ilan or encumbrance subordinate to
<br />this Mortgage. tb) the creation of a purchast money security interest for household appliances. Ic) a transfer by devise,
<br />descent or by nperatian of law upon the death of a joint tenant or
<br />Lender may, :n [.ender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. I_cnder shall have waived such aprion rn accelerate iE. prior to the ode cr u'mxsfer. Lender
<br />and tht pCrson a+ whom the Property is to be sold nr transferred reach agnemem in writing that the credit of such person
<br />is satisfacton' to t-ender and that the interest payable on the sums aecurcd b} this Mortgage chaff he at such talc as [.ender
<br />shall rcyuest. If Lender has waived the option to accelerate provided in this paragraph 17, :cod it -arrower's successor in
<br />interest has executed a wriatn assumption agreement accepted in writing by Lcndcr, t.endcr dtall rClcase Borrower from all
<br />obtigatians under this Mortgage and the Natt.
<br />If Lcndcr exercises such option to accelerate, Lcndcr shall mail -errower naticc of accelrralrun in aseardann• wnh
<br />paragraph t4 !*erto f. Such notics shaft proviu'e a period aC met less than ?0 days irnnr the date the notirr is mailed within
<br />which Borrower may pay shC gums declared dac. If Borrower fails ur pay urrh sums pt rot a+ the expiration et .uch period,
<br />Isnder ma}', wi(haut further noiicc of dcntand on Bnrrou-;; r, rm•nke nny remedies pernrined by paragraph IR hereof.
<br />.xta Nor•.UtvzFOata Coveroetvrs. Borrower and Lender further cnvena nt and agree as fellows:
<br />- l8. ArceteraGaa;•Remedies. Except as provided In paragraph 17 herarof, upon Borrower's breach of any curCrraut or
<br />_"'agretment of Bnrrower in this fvfarlgaKe, 8rrinding the cu. cnanU to pay when dac any sums secured by this ~hlartgagC.
<br />"-":ender prior to acceler~Ijpn sha- maB notice to Barrawer as provided in µaragroµh 14 hercef specifying: (1) the breach;
<br />-~~2) the artiou regrdred tti'cure such breach; (Ji a date, not test than 30 days from the date the notice is mailed in Barrawer,
<br />by which such breactr must be cured; and (4) that failure to rare .curb bleach nn w before the dale specified in the notice
<br />ma}~ rexnlz in arreteratiuv at the sums secured by This RL>rtgsge+ fnrrclosure by judicial proceeding and sale oI the Pmµerty.
<br />Tht notirn shaft further infnrnt Borrower at the dRhi to reinstate after ucreteratian and the right tv assert in rite Fnrechosurc
<br />. µtnceeding the rtua-CZistextce of a default ar any other defense of Borrower to acceleration and foreclosure. tf the brcadt
<br />is act rated an ar ix-far,: [hC cdatC specified in the naticc, [.emfer at t.ender's aprion may declare all of tht sums secured by
<br />this Alnngsgc !a z,C imrucdiate}y due and pa}atrte without further demand cord pray foreclose by judicial proceeding. Leader
<br />shall (oC entiited to collect to such pruceedtrtg aB ecµensex of fcuertasure, including. trot Drat limite:S ta, costs of darurnentsry
<br />evidence, abstracts and title resorts.
<br />19. BntruwCrs Right to Ra•instale. Nohvithscmdireg i,rndcr?; a;eelrrauou of t}u u;ms scan cJ by !hi. Morl;ta;.;r:.
<br />Bor.vu-vr ~ehall have the :iglet ro have any procredrngx Iwgun t•y 1~.•.nder i„ cniorct thx.+ hl arigagc •lisc, ~utmuc.l .rt a f s:mo
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