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81--00070 Lender's wriaen agreement or applicable law. Horrower shall pay the amaunt of all mortgage insurance premiums in the manner provided under paragraph 2 hereof. Any amotmis disbursed by Lender pursuant [a [his paragraph 7, with interest thereon. shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such amrnmts shall be payable upon natice from [.ender to 6arrawer requt::[ing payment thereof. and shall hear interest from the date of disbursement at the rate payable from time to time an outstanding principal under the Note unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shat) hear interest at the highest rate permissible under applicable law. Nathing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder. 8. Inspection. Lender may make ar cause to he made reasonable entries upon and inspections of the Property, provided that Lender shall give Borrower natice priar to any such inspectian specifying reasonable cause therefor related to Lender's interest in the ?roperty. 9. Condemnation. The proceeds of am' award or claim far damages, direct ar consequentiah in connection with any condemnation or other taking of the Property. or pare thereat. or for rnnveyance in lieu of condemnation are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall he applied to the sums secured by this Mortgage. with the excess, if any, paid to Borrower. in the event of a partial taking of the Property. unless Borrower and Lender otherwise agree in writing, there shall he applied to the sums secured by this Mortgage such proportion of the proceeds as is equal to that proportian which the amount of the sums secured h}' this Mortgage immediately priar to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. 1f [he Property is abandoned by Borrower. or if. after notice by Lender M Borrower that the condemnor offers to make an award or settle a claim far damages, Barrower fails to respond to Lender within 30 days after the date such notice is mailed. Lender is authosized to collect and apph~ the proceeds. at Lender's option. either to restoration or repair of the Propern~ or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing, am• such application of proceeds to principal shall not extend or postpone the due date of the manthly installments referred to in paragraphs I and '_ hereof or :,hange [he amount of such installments. 10. Borrower Not Released. Extznsion of the time for payment or mndificatian of amartization of the sums secured by this Mortgage granted by Lender to any successor in interest of Borrower ehall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not he required to commence proceedings against such successor or refuse is extend time for payment nr atherwise modify amartization of the sums secured by this Martgage by reason of any demand made by the original Borrower and Borrower's successors in interest. ll. Forbearance by Lender Not a Waiver. Ant forbearance by Lender in exercising an}• right ar remedy hereunder. or otherwise afforded by applicable {aw, shall not he a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by Lender shalt no[ he a waiver of Lender's right to accelerate the maturity of the indebtedness secured h}' this Mnttgage. 12. Remedies Cumulative. All remedies pmcided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortgage or afforded by law nr equity. ;rod may he exercised cancurrently. independently or successively. 13. Successors and Assigns Baund:.Ioint and Several Liability: Capfions. The covenants and agreements herein contained shall hind, and the rights hereunder shall inure to the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Mortgage are for convenience only and are net to be used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to he given in another manner. fa) any notice to Borrower provided for in this Mortgage shall he given by mailing such notice h7 certified mail addressed to Borrawer at the Property Address or a[ such other address as Barrower max' designate by notice to Lender as provided herein, and (h) any notice to Lender shall be given by certified mail, renim receipt requested. to Lender's address stated herein or to such other address as Lender may designate by notice u, Barrower xs provided herein. :\rn' notice provided far in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. I5. Uniform Mortgage: Governing Gaw: Severabilify. This form of mortgage combines uniform cavenants for national use and non-uniform covenants with limited variations by jurisdiction to censtintte a uniform security instrument covering real property. This Mortgage shall he governed by the law of the jurisdiction in which the Property is located. 1n the event that any provision or clause of this Martgage or the Note conflicts with applicable taw, such conflict shall not affect other provisions of this Mortgage ar the ,'Jute which cart be given effect without the conflicting provision, and to this end the provisions of the Mortgage and the date are declared to he severable. 16. Borrower's Copy. Borrower shall he furnished a conformed copy of the Vote and nF this Mortgage at the time of execution or after retardation hereof. 17. Transfer of the Propet4y: Assumption. if all or any part of the Property nr an interest therein is Bald ar transferred by Borrower without Lender's prior written consent, excluding rat the :. reatiun of a lien or encumbrance subordinate to [his Mortgage, (b) the creation of :r purchase mangy security interest for household appliances, tc) a transfer by devise. descent or by operation of law upon the death of a joint tenant or rdr [he grant of any leax:hold interest of three years ur less not containing an option ro purchase, lender may, :+t tender's option, declare all the sums secured by this Mortgage to be immediately due and payable. Lender shall hate waived such option a+ accelerae if. prior ti. the sale or transfer, tender and the person to whom the Prapertp~ is to he sold or transferred reach ;rgreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall he at such rate as Lender shall reyucst. If Lender has waived the aption to aaelerate provided in this paragraph I7, and if Barrower's successor in interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from alt obligations under this Mortgage and the Mote. If Lender exercises such option to accelerate. Lender shall mail Barrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of nut less than 30 days from the date the notice is mailed within which Borrawer may pay the sums declared due. It Borrawer fails io pay such wms prior tit the expiration of such period, Lender may, without further natice or demand on Borrower, invoke any remedies permitred by paragraph IR }tereof. NON-UNIFORM CoVt;NANT$. BorraweC :old LCndfr hulhef covenant and agree as fallaws: 18. AcceleraYron; Remedies. Except as provided in paragraph I7 hereof, upon Borrower's breach of any covenant or ItJI ~reement of Borrower in this 1lurtgage, including the covenants to pa} when due an. scans secured by this M1lortgage, Leader prior to acceleration sbaB mail notice fo Borrower as proaided in paragraph ]4 hereof specifying: (ii the breach; (2) the action required to cure such breach; (3I a date, nut less than 30 days from the date the notice is mailed to Borrower, by which such breach must 6e cured; and (4) that failure to cure such breach on or before the date specified in the rrotice raay resuN in acceleration of the suers secured by this iiortgage, foreclosure by judicial proceeding and sale of the Property. Tho notice shag farther inform Borrower of the right to reinstate after acceleration and thr right to assert in the foreclosure proceedirte the nod-exiUence of a default or any other defensr of Borrower to accelrrafion and foreclosure. Ff the breach le nag cured on or before lbe date specified in the notice, Lender at Lender's opting ma} declare all of the sums secured by this Mortgage to be imotediatdy due and payable without further demand and ma} forechxe by judicial proceeding. Lender shaft bt talhled to coUeet in each proceeding all exprnses of forerlusure, including, but not limited to, costs of documentary evidence, abstracts and titre reports. 14. ~iNrower'F R3(ltt to Reinstate. Notwithstanding L2 odor's a.yclcr auun of the nuns ;coded h}~ thrs Morigatie. Bortuwor shall have the right to have :mv proceedings Ix:gun by !ender to enlurct thi-, Mortgage Jix.munued tit and time