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Forst 808 B ~.~ -- ~ ~ 2 ~ ~ r~
<br />Lenders written agreement or applicable law. Bovower shall pay the amount of all mortgage insuranct premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amounts disbursed by Lender pursuant to [his paragraph 7, with interest thereon, shall become additional
<br />ittdebtedttess of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amtwnis shag be payable upon notice from Lender to Borrower requesting payment thereof, and shag bear interest from the
<br />date of disbursement at the rate payable from time 20 time on outstanding principal under the Note unlrn paymtntt of
<br />interest at such rate would be contrary to applicable taw, in which event such amounts shall bear interest at the highest rate
<br />permissible render applicable law. Nothing captained in this paragraph 7 shag require Linder to incur any expanse or take
<br />any action 4tetwnd't.
<br />8. i~pCetfan. Linder may make or cause to be made rcasanable entries upon and inspections of the Property, provided
<br />that Lentler shall give Borrower notiee prior to any such inspection specifying reasonable cause therefor related to Lender's
<br />ipte7est in tht Propctty.
<br />4. Cotbtit. The ptaceeds of any award or claim for damages, direct or consequential, in canttectlon with spy
<br />condemnation or other taking of the Propert}•, 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 appled to the sums secured by this Mortgage.
<br />with the excess, if any, paid to Borrower 1n the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the procuds
<br />as is equal to that proportion which the amount of the soma secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prim to the date of taking, with the balance of tht proceeds
<br />paid to Borrower.
<br />If the Proptxty is abandoned by Borrower, ar if, after notice by Lender to Borrower that the condemnor often to make
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Linder ix authorized to collect and apply the proceeds, at Lender's option, either to reatoratian or repair of the
<br />Property ar to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or postpone the dtte date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />!0. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />6y this Mortgage granted by Lender to any successor in interest of Rorrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not he required to commence
<br />proceedings against such suceessor or refuse to extend time for payment ar atheru•ise modify amortiza[ian of the sums
<br />sceured by this Mortgage by mason of any demand made try the original Rorrower and Aorrower's successors in interest.
<br />11. Forbearance by [.ender Nat a Waiver. Any fortrearance by Lender in exercising any right or remedy heretmder, ar
<br />otherwise afforded by applicable taw, shall not be a waiver of nr preclude rise exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender sha!1 no[ be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this 'vforzga¢e.
<br />12. Remedlea Ctr®ntaftre. All remedies provided in thie Mortgage are distinct and cumulative to any other right or
<br />reined under this Aiori a nr atiorded - r e°°~•v, a „ . . ~d •~ nrrrently. independent) or suttessivel .
<br />Y g to by la.: a yam,,, rt'.:^ay be ~-e•_•`- _a. __ Y Y
<br />13. 3txcesrwa and Aseiges Bautrd; Join[ and Several hiaMiity; Cr,paotss.nThe covenants and agreements herein
<br />conSaitted shall bind„ and the rights hereunder shall inurt ta, the respective successors and assigns of 1_ender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. fiH covenants and agreements of Borrower shall be join[ and several.
<br />The captions apd headings of the paragraphs of this Mortgage are for convenitnce only and arc not to be used to
<br />interpret or tkfine the provisions hereof.
<br />14. Notice. }?xcept for any notice reyutred under applicable law to be given in another manner, !a) any notice to
<br />Borrower provided for in this Mortgage shalt ht given by mailing such notice by certified malt addressed to Borrower at
<br />[he Property Address or at such other address as Borrower may designate hp notice to fender as provided herein, and
<br />{b) any notice to Lender shalt ire given by certified mail, return receipt requested, to Lendtr's address stated herein nr to
<br />such sitter asidress as Lender ~ ay designate by ^otice to Borrower as nravided 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. Uaifttrm 114or4t[y{e; Governing Law; Severa~lity. This corm of mnrtgage combines uniform covenants for national
<br />use and non-uniform rnvenan[s with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the taw of the jurisdiction in which the Property is located. Tn the
<br />event that any provision or clause of this Mortgage or the Nate conflicts with applicable law, such conflict shall not affect
<br />other provisions of [his Mortgage ur the Naie which part ~- r:ivx. a„° without the conflicting provision, and to this
<br />end the provisions of the Mortgage and tht Nate are declared to he severable.
<br />Itb. Bwrawer'a Copy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />19. TnoNu of tht Property; Assumption. If all or any part of the Property or an interest [herein is sold or transferred
<br />by Horrowtr without Lender's prior written consent, excluding (a} the creation of a lien nr encumbrance subordinate '..
<br />this Mortgage, (t±) the creation of a purchase money security imerest for household appliances, fc) a transfer by devise,
<br />descent or by operation of law upon trio death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option to pttrehase, Lender may, at Lender's option. deciart all the sums secured by this Mortgage to be
<br />immediately due and payable- Lender shall have waived such option to accelerate if, prior to the sale or Srnsfer, Lender
<br />and the perstm to whom the Property is to be sold ar transferred reach agreement in writing that the credit of such person
<br />is saiisfattory' to Leadtt and that the interest payable nn the sums secured by this Mortgage shalt be at such rate as Lender
<br />shall reyttest. 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 asstunption agreement accepted in writing by Lender, Lender shall release Borrower from all
<br />ttltligatians udder this Mortgage and the Nou.
<br />It Lendtr exercises such option to accelerate, Lender shall mail Dorrower notice of acceleration in accordance with
<br />pazagraph 14 hereof. Such notiee shall ptttvide a period of net less than ?0 days from the date the notice is mailed within
<br />which Borrower may pay Cite sums dulared due. !C Borrower fails ro pay such sums prior [o the expiration of such period,
<br />Ltndca may, without ftuYlter notice or demand on Borrower. invoke any remedies permitted by paragraph PSGhereof.
<br />Note-UNIFORM C~v$NA\T5. Borrower and Lender further covenant and agree as follows:
<br />18. Atceleratiee; Remedies. Facept as provided ip parerRraph 17 hereof, upon $erroweis breach of any covenaof or
<br />ayeameat of BaEraweE fa tbi5 Nasigagt, ituladiag the covenants to pay when dice any sura5 setund by this MartgaQe,
<br />YM#![ ptdoE to acceleration shah mall notce to harrower a. prorWed in paragraph 14 hereof specifyitte: (1) lire breach;
<br />I%ii flee aitifiart regrdred to tan sorb breach; (3) a date, pot less than 3ff days from t1u date the notice is tootled to Borrower,
<br />try w~leh tr>trh brartb tatrrt fate tend; and (4) that faBare to run such ttnach on or tte[on tba date spetit3ad fa the rmtlce
<br />arty raettN fa atcekEatMra of tbt sums. sectrred by thu Wvrlgage, faKechaore by ,judicial proeeediati and sale of the Property.
<br />`['La ttiatitt fastbeE istoErn Barrawtr of the ritTht to ninatatt after accekrtNfoa and the right to assert fn the foretlasnre
<br />t!rat t)te a~aa-exBecace of a dafaalt ar say atbtr ttzfetrst at Borrower to atetkntion and fareelosure- V the booth
<br />Y. ual cared rat ter betare fbe date spetRred in tbt aatkq Lrndu oN Ixmler's aptiop may declue aB of the sums settrrcd by
<br />ilgL to be leatoetBately dpi a~ Payable without further deetand and may fartclose by Jtrdield proceedlt~, Lender
<br />>Mlt be etigf-ad to coBett is such proctediatg a6 expetrats of faretlocun, Sncltedio&„ but oat ItmRed to, casts aE doramentary
<br />etrlierua,.la~raca tmaleltk rrppatrc.
<br />1l1. ~a ill~ltt a Ra-itaftate. '•lotwiths[anding Lender's ucceleratiua crC iht suau ;ecured by this Mortgage,
<br />Bortowar shall have the rl>rht to 'have any proceedings t+egun by 1 ender to enforce this Mortgage discontinued at any° time
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