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<br />81-- i~ti2874
<br />Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
<br />manner pYOVided under paragaph 2 hereof.
<br />Any amounts disbursal by Lander pursuant to this paragraph 7, with interest tfiereon, shalt become additional
<br />indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agrce to other terms of payment, such
<br />amounts shalt be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
<br />data of disbursement at the rate payable from time to time on ontstanding principal under the Note unless paytnMt of
<br />interest at such-rata would be contrary is applicable law, in which event such amounts shall bear interest at the highest rata
<br />permissible under applicable law. Nothing contained in this paragrapfi 7 shall require Lander to incur any expertx or take
<br />any action hereunder.
<br />& Iarpxeilae. Lander 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 rclat~ to Lender's
<br />interest in the Property.
<br />9, CoademnaNon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation orothet 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 sans scoured by this Mortgage.
<br />whit the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />aherwise agree in writing, there sfiall be applied to the sums secured by this Mortgage such proportion of fhe proceeds
<br />ae is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />caking 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 Borrowtr.
<br />If the Propeaty is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offtn to make
<br />an award or settle a claim for damages, $arrower fails-to respond to Lender within 30 days after 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 tbe
<br />Property or 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 due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. tlorrot-er Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lendar W any suceessor in interest of Borrower shall not operate io release, in any manner,
<br />the liability of the original Borrower and Borrower's successcrs in interest. Lender shall not be required to commence
<br />proceedings against sash 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 aril Borrower's successors in interest.
<br />11. d+oriearate by Lender Net a Waver. 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 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 />1Z Remedks C®eletire. All remedies provided in this Mortgage are distinct and cumulafive to any other right or
<br />remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Stteceasora and AsYgra bound; Joint and Several Liability; Caption. 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 />subjeM to the provisions of paragraph 17 hereof. AB covenants and agreements of Borrower shall be joint and several.
<br />The captious 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 itereoi.
<br />14. Natke. Except for any notice required under applicable law io be given in another manner, (a) any notice to
<br />Harrower provided for in this Mortgage shall he given by mailing such notice by certified mat) addressed to Borrower at
<br />the Property Address or at such cxher address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given 6y certified mail. return receipt requested, t» Lenders address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice providai for in this
<br />Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />IS. Uni[ar® MorrEtga Governing Law; Severa6Rity. This form of mortgage combines uniform covenants for national
<br />use and non-uniform covanants with limited variati~ ns by jurisdiction 20 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. 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 Mortgagt or the Note which can be given effect without the conflicting provision, and to this
<br />attd the provisrons of the Mortgage and the Notc are du}ared to be severable.
<br />ld. [Borrower's Copy. Borrower shall b furnished a conformed copy of the Note and of this Mortgage a[ the time
<br />of execution or after racordation hereof.
<br />t7. 'IyswEer of tie lhoperty; Aswsepfian. il' all or any pan of the Property or an interest therein is sold or transferred
<br />by Borrowar without Lenrkr s prior written consent. ezcittding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money sectuity interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tetras[ or (d) the grant of any leasehold interest of three years or less
<br />not containing ao option to purchase, Lender may, at Lender's option, declare alt the sums secured by this Mortgage to rte
<br />iromediatety due and payable. Lender shall 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 payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />sbaU request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interoat bas executed a written a~umption agreement accepted in writing by Lender. Lendar shall release Borrower from all
<br />obligations undar ibis Mortgage a~ the Note.
<br />If Lander exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in acfordance with
<br />paragraph 14 hereof. Such noiitx shall provide a period of not secs than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower faits to pay such sums prior to tha expiation of such period,
<br />Lender may, without furtltet notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Now-UxtFOatt Cbvextrtxs_ Borrower attd Lender furt)cer covenant and agree as follows:
<br />1B. ,aratloa;-Remedirs. Except as pcovkkd is paragraph 17 hereof, ttpoe Borrower's brtach of any covenul or
<br />^oerowar ~ rids Marisase, iaci~ tie covenants to pay when dtre any sa+aa secured by ttds Mortpga,
<br />ltnrtela~ 1>~ p ~ siiY tna8 notice fo Borrowu as pmvidtd in paragraph 14 hereof speei[yhgr (t) tie braaci;
<br />{~rr4p aa~as fa cwa each. hreaei; (3) a dame, rtes kac tine 30 -days from tie daft tie notice h wailed to iBarrvwtr,
<br />If)r y artci 6esaeit slap M awed; and f4) tint fa9ret to etre atrci tctach oe or bdors tie date spacLkd is the aotist
<br />saq ceerM 4 ~ of t-t: areK wecnrad by rile Mortgage, foreclowrt i!' jodkLd procadiag sad sale of tie Property.
<br />11fs ~otke aLa4 R~rtYer Mprm Herro*rer; of tie rigid to reisatate aEgr acccMratioo sad lie tlgit/ to araM le lie Eoreciotare
<br />p. qtr rot,.tx~rtxe of a dt:hattit or aey otter dtEttrtte of [Borrower to acceleratiop sad toredaaart, <E tic 6maci
<br />li twl ettsad w or tarEs~e rite dMt aptcfitd is.tMe notice, t..endar ~ Letatiq'a optiow ~' dsclrrt all of tit. stars recared b3'
<br />ti-sr..I to Tfa ~` aM ptAyabk wllYoat [artier demand sad mq fereslatt try jadicitd txec+scdfyt. I eadtr
<br />tdMii Ile u:ta collaef tp: raiaY pras~ag ai6 tApnws aE fareciosara teeladlag, brrt oat Ikn4ad tq cops of docttnteataey
<br />arlif~wtrs idtMrtaela sad rill! rtpls.
<br />1~ ~flatdt~slt's BilpM to Raiae;~le. NotwitMtanding L.eucler's acceleration of the sums secured by this Mongsge,
<br />Borrsrtvar shall havo tin ~ to have say proceedings begun by l.en~t to tnfnrcx this Mortgage discontinued ai any time
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