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Form $08 B
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<br />I ender's wrif+xn a3mmeat or applicable law. Borrower shag pay the amount of aII mortgage insuratxe premiuvta is the
<br />manner provided nude= paragraph 2 hereof.
<br />-- Any amoums disbursed by Lender pursuant to tfrtt paragraph 7, with interest thereon. shalt become additioaaf
<br />indebtedrtess of Borrower sxured by this Mortgage. Unless Harrower and Ltnder egret to othtr terms of payment, such
<br />amounts shall be payable epos notice from Leader to ',intro xer requesting payment ?hereof, and shall bear interest from the
<br />date of dubnrsemeni ai the rate payable from lilac to time on outstanding principa} order the Note vnkss payment of
<br />interest at such rate would be confrsn° to applicable law, in which event such amovnta shag bear interat at tht highest rate
<br />permisttibie under applicable law. Nothing wntained in this paragraph 7 shad require Leader to incur any expense rn- take
<br />any action hereunder.
<br />8. Inspection. [xnder may make or cause to be made reasana6le entries upon and inapeMinns of the Property, provided
<br />that Lender shall give Borrower notice prior to any such inspect"son soecif±aing rcasortabk cause therefor related to Lender's
<br />interest in the Property.
<br />9. Coedemrratfoa. The proceeds 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 condemnation. are hereby assigned
<br />and shalt be paid tc Lender.
<br />In the event of a total taking of the Property. the proceeds shall t+e applied to the sums secured by this Mortgage,
<br />with the excess, if any, paid to Borrower. In the event cf a partial taking of [he Property, unless Borrower and Lender
<br />otherwise agree in writing. there shall he applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that propottion which the amount of the sums secured by this Mortgage immediately pilot 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 Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Borrower fails io respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized io collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />Property or to the sums _ecured by this Mortgage.
<br />L'rless Londe: and Borrower otherwise agree in writing, any such application of proceeds to principal shag 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 />10. Borrower Not Released. 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 io release, in any manner,
<br />[he liability of the arigina] Borrower and Borrower's successors in inerest. tender 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 Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />] i. Forbearance by Lender Not a Waiver. 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 or remedy.
<br />The procurement of insurance or the payment of races or other liens or charges by Lender shall not be a waiver of Lender's
<br />right ra accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumuiaffve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy tinder this Mortgage or afforded by law ar equity, and may he exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captious. The covenants and agreements herein
<br />contained sfiall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower,
<br />subject •.o the provisions of paragraph 17 hereof. Ai. covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to he used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, la) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified malt addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein. and
<br />(b} any notice to Lender shall he given by certified math return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. .Am' notice arovided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />13, Unlforrrr !ilnrtgage; Cnverniug Law; Severability. This form of mortgage combines uniform covenants far national
<br />use and non-uniform covenants with limited variations Lay iurisdiction to constitute a uniform security instrument covering
<br />real property. 1`his Mortgage shall be governed by the lau• of [fie 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 law, such conflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy o_' the Note and of this Dortgage at the time
<br />of execution or after recordation hereof.
<br />i7. Tratrsfer of the Property; Assumpfion. If all er any part of the Property or an interest therein is sold ar transferred
<br />by Borrower without Lendei s prior written consent. excluding !a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, fb) the creation of a purchase money security interest for household appliances, le) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option to pr-those. Lender may, at Lender's option, declare all the sums secured by this Mottgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior [o the sale or transfer, i_ender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request. If Lender 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, Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such portal,
<br />_ Lender may, without further notice ar demand on Borrower, invoke any remedies permuted by paragraph l8 hereof.
<br />Nov-UN(PORM Covenears. Borrower and Lender further covenant and agree as follows:
<br />18, Accelerating; Remedies. F,xcept as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreentsa! of Borrower in this Ylor[gage, including the covenants to pay when due any sums secured by this illotigage,
<br />... Louder prior to acceerafion shag mail notice to Borrower as provided in paragraph 14 hereof specifying: (q the breach;
<br />(2! the action required to cure such breach; (3) a date, not less than 30 days from fhe date the notice is mailed to Borrower,
<br />_ _~, by which such.breaeh must be cured; and 14) lhat failure to cure such breach ou or 6etore the, date specLrva In tt!e ru~ice
<br />may result in accelera/imr of the Burns secured by this Mortgage, Foreclosure 6y judicial proceeding and sale of the Property.
<br />~' The notice sttsB further inform Borrower of the right to reinstate after acceeration and the right to assert in the Foreclasrue
<br />procesdiag fhe nog~xistence of a default or any other defense of Borrower to accelerating cad foreclosure. !f the breach
<br />'is nel cured on or balare fhe date specified in fhe notice, Lender at Lender's option may declare all of the sums secured by
<br />this Mortgage to be-immediately due and payable without further demand and may foreclose by judicial pruceedirrg. Lender
<br />shaft ire eniiUed to collect in such proreedfug alt expenses of foreclosure, including, trot nut limit, a lo, costs of documentary
<br />evidence, abs[racfs atul UUe reports.
<br />19. Borrower's Right to Reinstate. Notwithstanding lender's acceleration of the sums secured by this Mortgage,
<br />Borrower shall have the right to have any proceedings begun 6y Lender to enforce this Mortgage discontinued at any time
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