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<br />Lender's wririen agreement or applicable law. Borrower shzlf pay the amount of aii mortgage insurance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amcurits disbursed by Lender pursuant to this paragraph 7, with interest thereon. shall 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 payabk upon notice from Lender to Borrower requesting payment thereof, and shalt bear interest from the
<br />date of disburxment at the rate payabk from time to time on outstandmg principal under the Note unless payment of
<br />interest at such rate would be contrary to applicable taw, in which event such amounts shall bear interest at the highest rste
<br />permi~ibk under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
<br />any action hereunder.
<br />B. iaspeefloa. 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. Co~emteNbn. 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 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 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 Borrower, or if. after notice by Lender to Borrower that the condemnor offers to make:
<br />an award or set8e a claim for damages, Borrower fails to respond m Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply the procttds, at Lender's option, either to restoration or repair of the
<br />Property or to the Burns 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. 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 st:ccessors in interest. Lender shall not be required to commence
<br />prtaceedings against sunk successor or refuse to extend time for payment rn- otherwise modify amortization of the: sums
<br />secured byth~s Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
<br />e l2{', ForbarrrNCe by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />of rwieo afforded. hJt applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />Thhe~pT~feetenl~itoW{';{~,pr the payment of taxes or other liens or charges 6y Lender shall not be a waiver of Lender's
<br />right to accelerate the matun'ty o~t"6'e indebtedness secured by this Mortgage.
<br />i2. Remetlks Crrmahtthe. 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 tae exercised concurrently. independently or successively.
<br />13. Suecossors sad Assigns Bound; feint and Several i.iab8ity; 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 shall 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 to
<br />interpret or define the provisions hereof.
<br />14, Notke. Bxttpt for any notice required under applicable law to lx given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any ttoticr to Long shal- be given by certified mail, return receipt requested. to Lender's address stated herein ar to
<br />such otber address as Lender may designate by Warier to Borrower as provided herein, Any notice provided for in this
<br />Mortgage shall be dexttted to have been given to Borrower ar Lender when given in the manner designated herein.
<br />1S. Uaitoras lMlorteage; Goreraing Lsw; Severa6Bfty. 'this farm of mottgage combines uniform covenants for national
<br />use and non-uniform covenants with broiled variations by ttlrl5dlCtllln to S:ORxtltt:te 8 URIfaRrr xetillrlty instrument covering
<br />real property. This Mortgage shalt be governed by th€ taw of the jurisrlirtioR irr which the Property is Ixated. In the
<br />event that any provisiaa or clause of ibis bfartgage ae the Nei. cotuiicts with :+pplicahle taw, such conflict :halt oat afiacf
<br />atlter Lravisians Qf this Mortgage or the Na4 which can era given ctfect without the conflicting provision, and to this
<br />end [ito provisions of rho Mortgage and the tiote arc declared to ere ceverabto.
<br />16. Borrower's Copy. Borrower ct!all be furnished a ecntormed copy of the Note and cf this Martpage at the tiros
<br />of execution or after recordation hereof.
<br />17. Traru[ar of the Tso~esl)': Atewmpthta. If aii or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior wrinen consent, excluding (al the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b1 the creation of a purchax money security interest far houxhold appliances, (ef a transfer by devise,
<br />dascont or by operation of law upon the death of a joint tenant or fcU the grant at any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may, at L.ender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable.. Lender shall have waived arch option to accelerate if, prior to the Bak or transfer, l.rnder
<br />and rho person to whom the Property is to t+e sold ar transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on rho sums secured by this Mortgage shall be at such rate as lender
<br />shall request. If Lender has waived the option m accelerate provided in this paragraph l7, and if Borrower's successor in
<br />intarast has executed a written assumption agrewmont accepted in writing by Lender, Leudar shall release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Londar exercises such option to accelerate, Lcndor shall mail Bormwar notice of acceleralian in accordance with
<br />paragraph f4 betrAf. Such notice shall provide a period of not less Than 30 dugs from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower faits to pay strnh sums prior to rho expiration of such period,
<br />Lander may, without further notice or demand oo Borrower, invoke any remedies permitted by paragraph Ig horeot.
<br />Ntuv~Uwroans CovaNerrrs, Borrower and 1.onder further covenant and agree as follows:
<br />16. Acaekratba; ReAiedka. Eat~ept u provided is paragraph f 7 hereof, upon Borrower's breach of any coveawrt or
<br />rajtaearoat er ;3erratrer la This I-loMgage, inelw)i~ the covenants La pay when duo any sums secured by thk ;vErrrtgagc.
<br />Loader pdrrr t+o aocekraibn shall resit Welke to Burrower as provided in paragraph t4 hereof apeclfyittg: tl) the breach;
<br />lx) the settee raquked to care surfs breach; t3) a date, not Tess than JO days from the date the Welke is mailed to Borrower,
<br />by +rhk4 mrch hmaeh moat ho cured; ud t4) that faBurc 1o cure such breach oa or before the date speciNed in the natlce
<br />~' recall la acreNxstioa of the tutus secured Dy thkt Murt~agq [orechrsure by )udkial proerediag sad sofa of the Property.
<br />1"ke tttaNaY ttia6 ftarthrr Isdavm Borrower of the right to reinstate after acceleMbn artd the right to trsseri in the foreclosare
<br />Irtroeaa#ay ~e aomexhseece at a default or any other defense of Bormwar to accekratbn and foreclosure. If the txeach
<br />la aW oared oa or blare the dNe sprciped is tbt Welke, Leader at I.enderb option tawy declare e6 0[ 16e sums secured by
<br />Nrltt Mn[fBaRs !a 6e iauaedJateiy due sad payabk without farther demand sad may foreclmse by judkial prosoeding. Lender
<br />aba6 ba eaiiNod to cs~lect i. Bach proccediag aB expetasea of foreclosure, inrladhtg, but not Iinxlted to, costs of docunteatuy
<br />ev)dasare. abslrach sad t1/k rtporta.
<br />I!. ^arrotra:"a Rtsht to RNMlttit, Notwithstandurg tinder's acceleration cif the cants secured by this Mortgage.
<br />°or:vtvts shall have t!x rlht to Nava say pra:e^,dengs txgun t:y l.cRdar to enterce !hn !ttartga;;c discuttt:nuc~ at soy time
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