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l.cnder i written agreement or appiicable Isw. Borrower sl~al{ pay the amount of all mortgage insurance prcmiuma in the
mnnner provided under paragraph 2 hereof. ~
Any amnu~ts disburicd by I.cnder pur~uant to this paragraph 7, with interest thtrcon, shall become additianal
in~eb~edness of Rorrower sccured by this Mortgagc. Unless Borrower and l.ender agrec to other tertns of paymeM, such
amounts shall bc payahle u{x~n noticc from I.cndcr to &~rrowrr reyucsting payment thereof, and shall bear interest from the
date of disbursement at the rate }~yahle fr~m time to time on outstanding principal under the Note unl~ss payment of
interest at such rate would be contrary to applicable law, in which event ~uch amaunts shall hear interest at the highest nte '
permiuiblt under applicable law. Nothing contained in this paragraph 7 shatl requir+e 1_cnder to incu~ any expense or take
any action he~eunder. ~
8. laspectioa. i.ender may make or .•ausc to t?e made reasonahle enlricc u{wn and inspections of the Propeny, provided ;
that i.e~der shall give Borrower nMice prior to any such inspecti~~n specifying rcasonable cause therefor related to l.ender's ;
interesl in the Property. ~
9. Condemuntbn. The p~~xeeds of any award o~ claim for damages, direct or conuquential, in connection with any
condemnation or dher taking of the Propehy, or part thereof, or for c~,nvcyancr in lieu of cnndemnation, are hereby assigned ;
anc} shall be paid to I.ender. ~ - ~
In the event of a total taking of the Proper~~~, ~he prcxeeds ahall he applied to the sums secured by this Martgage, ~
with the cta.~ss, if any, paid to Borrowe~. ln thc cvcnt of a partial taking of the Property, unless Borrower and Lender
olherwise agree in writing, there shall be appli~d to the sums securcd hy this Mortgagt such proportion of the proceeds
as is equal to tFiat proportion which the amount of thc sum~ sec~ired hy this Mortgage immediately prior to the date of
taking bears to the fair market vali~c of the Propcrty immcdiatcly prior ta the Jate oF taking, with Ihe balance of the proceeds
paid to Borrower.
If the Property is abandoneci by Borrower, or if. after natice by i.ender to Bormwer that the condemnoLOfiers to make
an award or settle a daim for damages. Borrower faib t~~ ms~~d M Lender w•ithin ~0 days after the date such notice is
mailed. Lender is authorized to collect and apph~ the proceeds, at Lender r option. cither to restoration or repair of !he
Proner~y or to the sums secured hy this Mortgage.
Unles~ I.e~der and Bor~ower othervvice agree in ~•ritine. any such application of proceeds to principal shall not extend
or postpone the due date of the montMy installmcnts referrcd to in paragraphs 1 and 2 hereof or change the amoent of
such installments.
t0. Borrower Nof Rekased. Extcnsion of the time for payment or modification af amortization of the sumc secured
by this Mortgage granted by l.ender to am• succesx~r in interect ~~f Borrower ~hall not operate to release, in any manner,
the liability of the original Borrower and B~rrower't successorc in interest. T.rnder shall not he rcquired to commence
proceedings against such successor or refuse to exlenJ time for payment or othervrise modify amortization of the sums
secored hy this Mortgage by reason of am~ demand made by the orieinal ~3ormwer and Borrower s succescc~rs in interest.
ll. Forbes~rAnce by I.eeder Not a Wai~•er. Any fc•rhearance h~~ I.ender in exercising any right or remedy hereunder, or
otherwisc aRorded hy applicahle law, shall not hc a wai~•cr ~f or preclude the exercise of any such right or remedy.
Thc procurement of insurance or the payment of tares or other liens or charges by I_ender shall not be a v?•aiver of Lender's
right te, accelerate the maturity of the indehtednecs cecured h~~ this Mortgage. _
12. Remedies Cbmulad~e. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded hy law or equity. and may be exercised concurrcntly, independently or suceessively.
13. Saccessors aod A~ns Bound: ]oint and Se~•eral i.iaM'lify; CapUSons. The rovenants and agrcements herein
contained shal) bind, and the riRhts her+eunder shall inure to. the respective succecu~rs and a~igns of I_ender and Borrower,
subject ta the provisions of paragraph 17 hereof. All cavenants and agreements of Borrawer shall t~e joint and several.
"I~e raptions and headings of the paragraph~ of this Mortgage are for convenience only and are not to Ue used to
intcrpret or define the provisions hereof.
14. Nofice. Except for any notice required under applicable !aw to be given in anothet manner. (a) any notice to
Borrower pmvided for in this Mortgage shall he given by mailing such notice by cerlified mail addreskd to Borrower at
the Property Address or at such other addrecc as Borrow~er may designate by notice to I.ender as proviJed herein, and
(h) any notice to Lender shall be given by certifx:d mail, return receipt requested, to l.ender c address stated herein or to
cuch othe~ address as I.ender may designate by notice to Bormwer as provided herein. Any natice provided for in this
Mortgage.shall be deemed to have been given to Borrower or l.cnder vehen given in the manner designated herein.
. 15. Uniform Mortga~e; Goverain~ iaw; Severability. This form of mortgage combines uniform covenants for national
use and non-uniform c~venams with limited variations by jurisdictian to constitute a uniform security instrument covering
rcal property. This Mertaage shall be governed b~~ the law of the juriuliction in which the Property is located. 1n the
event that any provision or clause of this Mortgage or the Note rnnflicts w•ith applicable law, such conflict shall not affeet
other pravi~ions of this Mortgage or the Note which can be given effect without the conflicting provi~ion, and to this
end thc provisions of the Mortgage and the Note arc declared to I~e severable.
16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of thic Mortgage at the time
of e~ecution or after recordation hercof.
~ 17. Transfer of t6c Property: Assumption. 1f all or any part of the Property or an interest therein is sold ar transferred
by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase money ~ecurity interest for household appliances, (c) a transfer by devise.
~ desccnt or hy operation of law upon the Jeath of a joint tenant or (d) the grant of any leasehold interest of three years or less
i nut rantaining an uption to ptirchase, Lender may, at 1_ender s aption, declare all the sums secured by this Mortgage to be
~ immediately due and payable. Lender shall have waived such option ~to accelerate if, prior to the sale or transfer, Lender -
! and the person to whom tfie Property is to be solJ or transferred reach agreement in writing that the credil of such person
; is satisfactory to I~ncler and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
j ~hall request. lf I_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
~ .n:erest has executecl a writt:n assumption agreement accepted in writing by I.ender. Lender shall release Borrower from all
~ ti!i~ations under this Mortgage and the Note.
~ If Lender exercises such option to accelerare, I_enJer shall mail Borrower notice of acceleration in accordance with
~ ~ragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
• ~i -t; Borrower may pay the sums declared due. If Bcrrower (ails to pay such sums prior to the expiration of such period.
~ ,~•1~r may, without furlher notice or demand on Borrower, invoke any remedies permitted by paragraph 1R hereof.
Nox-UHiFORrK Cover?~rrrs. Bonower and Lender further covenant and agree as follows:
l8. Acceleratioa; Remedks. Ezcept as provided ia para~rap6 17 hereof, upon Borrov?e~s breac6 of aay corenant or
agreement of Borrower ie t~ Morigsge, fnclnding t6e corenaats to pay when dne aay snms secured by this Mort~age, I.eader
' prior to sccekratbn sbaU mait notke to Eorrower as provided in pua~rap6 14 6ereof specityiuS: (1) t6e bracb; (2) tbe actioo
reqoired to care soch bresch; (3) a date, not less than 30 days from tbt date tbe ootke is mailed to Bormwer, by w6k6 snc6
brcacl~ ma5t bs c~red; aod (4) t6at hilnre to cure snch breach oe or before t6e d~e specf6ed ia tbe ootke ma7 radt in
~ ncceleratioo of tbe s.ms securcd by this Mo•tga6e, forcclowre by judicial proceedin6 ~d ssk of t6e Property. 'Ibe ootice
? sball farl6er iaform Borrower of tbe right to rel~tate affer accekration and ttie ri~bt to aceert in tbe foreclosore Moceedio~
~ t6e non-existeoce of a defanlt or aay otl~er defense of Borrower to accekratiow and forecloenre. If tbe breach is not cee~ed o0
; or before t6e date speci6ed in t6e notice. Leoder at I.ender's optjan may declare afl of t6e snms secnred by this Mortsaee b be
= immediatdy dot aod p~rabk wit~oat inrther demaad aad may foreclose t6b MurtEa6e b~' jodicW praceedi~. I.ender s6d1
; be eotitled to coliect io snc6 proceedius aB e:peases of foreclosurr, inclndiagr bot oot Wdted to, teatonaWe attocaey's fees,
> and cosis ot docameMaq efidence. sbstracts aod titk repo~ts.
~ 19. Borrowe~s R~~t to Reh~state. Notwithstanding Lender s acceleration of the sums secured by this Mortgage.
~ Borrower shall have the right to have any proccedings begun by Lender to enforce this Mortgage discontinued at any time
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