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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon, shalt become additional
<br />indebtedness of Borrower secured by This Mortgage. Unless Borrower and Lender agree to othtr helms of payment, such
<br />amounts shat) be payable upon notice from Lender to Borrower ,-equesting payment thereof. and shall bear interest from the
<br />date of disbursement at the rate payable from time to time on outstanding principal under the Note unless paymrnt of
<br />interest at such rate would be contrary to applicable law, in which event such amounts shat! bear interest at the highest rate
<br />permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<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 Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender`s
<br />interest in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in. connection with any
<br />condemnation or other caking of the Property, or part thereof, or for conveyance ir. lieu of condemnazion, are hereby assigrxd
<br />and shall 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 Propem•. 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 Morgzge 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 Borrower that the condemnor offers to make
<br />an award or settle a claim for damages, Burrower fails to respond to Lender within 30 da}s after the date such notice is
<br />mziled, Linder is authorized to collect and apply the proceeds. at Lender's option, either to restoration or n:pair of the
<br />Property or to the sums secured by this Mortgage. -
<br />L'nless Lender and Borrower otherwise agree in wrhing, any such application of proceeds to principal shall 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 />20. 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 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 Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />tY. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicab(e law, shat) not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or char_ees by Lender shall not be a waiver of Lender's
<br />right m accelerate the maturity of the indebtedness secured by this Mortgage.
<br />t2. Remedies CvmolaHve. Ali remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mottgage or afforded by law or equity, and may lens exercised concurrently. independently or successively.
<br />13. Successors and Assigns Bound; Jsint and Seaeral Y.iabBIty; CapBons. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, [he respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall bz joint and several-
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />24. Notice. Except fur amp notice required under applfcable law to be given is another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall 6e given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borro~a•er may designate by notice m Lendtr as prothded he: sin, and
<br />(b) any notice [o Lender shall he given by certified mail, return receipt requested, to Lender's address stated herein or to
<br />such ether address as Lender may designate by notice to Berzower as prm+ided herein. Any notice provided for in this
<br />Mortgage shall be deemed to. have been given to Borrower or Lendsr when given in the manner designated herein.
<br />i5. Uniform Mortgage; Governing Law; Severabtlity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. to the
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shalt 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 tc bs severable.
<br />Yb. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation. hereof.
<br />27. Transfer of the Property; Assampfion. if all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage. {b) the creation of a purchase mousy security interest for household appliances, (c) a transfer ny devise,
<br />descent or by operation of law upon the death of a joint tenant or tdt the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at t_ender'e option, declare all the sums secured ny this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sate or transfer. Lendsr
<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 i_ender
<br />shall request. 1t Lender has waived the option to accelerate provided in this paragraph i7, 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 />Tf Lender exercises such option to accelerate, Lender shall mail Horrowsr notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not Ices than 30 days from [he dace 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 period,
<br />Lender may, without furthu notice or demand on Borrower, invoke any remedies permiired by paragraph t g hereof.
<br />Norv-Utvtroant Coververvrs. Borrower and Lender further covenant and agree xs follows:
<br />1q. Acceteratiou; Remedies. Except as provided in paragraph I7 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Mortgagt, iodudinq the covenants [o pay when due any sums secured 6y this Morgage,
<br />Lender prior to acceleration shag msH notice Io Borrower as provided io paragmph 14 hereof specifying: (t) the breach;
<br />(2) the action required to cure such breach; (3) a date, not Lees than 30 days from the dais the notice is mailed to Borrower.
<br />by which such breach must be cured; end (d) that failure to cure such breach o0 or before the dale specified in the notice
<br />may result in acceleration of the sums secured by Ibis ~0lortgage, foreclosure by judicial praceedfaq and sek of the Property.
<br />Th,e notice shall further inform Burrower of the right to reinstate after aeceleratba a»d the right to assert in the foreclosure
<br />ptoceed{ng the rwn-eztstence of a default or any other tlefetrse of Horrowsr to accelemtan and foreclosure. tP the breach
<br />la not tared on oe before the date specified in the rrotice, Leader of Lender's optbn may declare all of the sums zecured by
<br />thin Mortgage to be immediately due aad payable without further denvartd sod may foreclose by judicial proceeding. Lender
<br />shill bs satitled to collect in such proceeding ail ezpeases of foreclosure, incladbrq, but not IimNed to, coed of documentary
<br />evidaacs, abstracts amt title rstwNs.
<br />2°• harr.-.Rsr's B'~,yt to gsiortais. Natwithstapdsng i.euder's aectieration of [he cams secured by this Mortgage,
<br />Burrower shall have the right to stave any prrxuxiings begun by Lender to enforce thu Merrgage d;sc^_ntim;sd at any tune
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