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8~~Ct13~1~
<br />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 other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting 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 payment of
<br />interest at such safe would be contrary to applicable taw, in which event such amounts shall bear interest ai the highest rate
<br />permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />8. ittspeetlon. 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 LendePs
<br />interest in the Property.
<br />4. Ctutdemoatbn, 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 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 Property, unless Borrower and Lender
<br />otherwise agrez in writing, there shall be applied to the sums secured by chic Mortgage such proportion of the proceeds
<br />as is equal to 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 Property is abandoned by Battower, 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 ro Lender within 30 days afros the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unless. Lender and Borrower otherwise agree in writing, env such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs I 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 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 />11. Forbearance by Lender Not a Waiver, Any forbearance by Lender in exercising any right or remedy hereunder, of
<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 payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may he exercised concurrently. independently or successively.
<br />13. Successors and Aseigtts Bound: Joint and Several 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 17 hereof. All covenants and agreements of Borrower shalt be joint and several.
<br />The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used .~
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice b}' certified mail addressed to Borrower at
<br />[he 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 be given by certified mail, 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. Any notice provided for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uuiform Mortgage; C,ovcrniog Law"; Severability. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covenants with limited variations b}' jurisdiction to constitute a uniform security instrument covering
<br />real property. T"nis Mortgage shaii be governed h the law ;:f the 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 shalt not affect
<br />other provisions of this Mortgage or the Vote whtch can be liven eKect without the conflicting provision. and to this
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />16. Eorrower'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 />17. Transfer of the Property; Assumption, If ap or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prier written consent, excluding tai the creation of a lien or encumbrance subordinate to
<br />this Mortg-age, (b) the creation of a purchase money security interest far household appliances, (c) a transfer by devise,
<br />descent or by operation of taw upon the death of a joint tenant or
<br />-atal.aepiaiwittgr Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shaft have waived such option to accelerate if, prior to the sale or transfer. Lender
<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 pa}'able 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 ::as executed a written assumpifon agreement accepted in writing by Linder. Lender shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender sbal! mail Borrower notice of acceleration in accordance with
<br />paragraph I~ hereof. Such notice shall provide a period of nut less than 30 da}•s from the date the notice'is mailed within
<br />which Borrower may pay the sums declared due. if Borrower fatly ro pay such sums- prior to the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, invoke auy remedies permitted by paragraph lg hereof.
<br />Note-UtvtFaaM Covarvervrs. Borrower aad Lender further cucenant and agree as follows:
<br />2$. Acceleration; Remedies ExcepE as provided in paragraph t 7 hereof, upon Borrower's breach of any cavenaut or
<br />agresment of Borrower in then ~lorlgage, iaclndiag the covenants to pay when due any sums secured 6y this Mortgage,
<br />Leader prior to accekratlon shag trtat7 notice to Bprrowtr as provided in puagtaph 14 hereof specifying: il) the breac-.`.;
<br />(Z) tilt actba required to cure such breach; (3) a date, nor less titan ;0 days from the date the notice is mailed !o Borrower,
<br />by wirk6 ouch breach must he cured; aad (6) that failure to cure such breach un or before the date sped&ed en the notice
<br />may [earth is accderatfou of the Burns secured by this ,tifortga{)e, foreclosure by judicial proceeding and sale of the Property.
<br />'i7re aatict shag further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure
<br />pt'Qttediag tbt tton-ezistettce of a default or any other defense of Borrower to accelaratino and foreclosure. If the breach
<br />is ant culled on or before the date specified in the notice, [.coder at Lenders option may declare all of Me sums secured by
<br />this MottBage to he immediately due anal payable without further demand and may foreclose try judicial proceeding. Lender
<br />shag bt entitled M collect in such proceeding ati expenses of foreclosure, including, cwt not limited to, costs of documentary
<br />evideacp abstrach apd title reports.
<br />19, lerrower'x R~ht to Reinstate. Nntwtthstandutg Lenter's acceleration of the xunss secured M~ this Mortgage,
<br />Borrower shall have the right to have Buy procedings t>zgun by Lender to enkxee this Mortgage dis.umuuted a[ ary time
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