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[.cnde~'s writtco agrccmcnt or applirablc law. Bu~rov?•er shal) pay thc amount oi ali mortgage insura~cc prcmiums in ~he ~
ma~ncr pravidc~l undcr paragraph 2 hcreot. . ;
Any amouots disbunc~l by I.ender pur+u~nt to ~his pa~agraph 7, with inteoest thereon, shall bccame additional
indcbtedness o( Borrower securcd by ~his rtortgage. Unless QorrowYr anJ I-en~kr agrce ta other tcrms of paymcnt. wch
amoants shall be payable upi~n noti~~e fram Lcnde~ to Borrawcr ~equesting paymeM thereof, anJ shal) bcar interest from the
datc of di~bursemc~t at the ratc payahle from timc to timc on ouulanding pri~cipa) undc~ thc Nole unlecc payment of
iniercst at such rnte would be conl~ary t~ applicable law, in ~~~hich event s~kh am~unts shall bea~ interext at the highest rate
permiuible u~der applicable law. Nothing cont~ined in this pa~agraph 7 shall require I.ende~ to incur any expenu or take
any action hcrcunde~.
8. Inspectioa I.ender may makr ur cause to be made reacooable entries upoo aod inspectianx of the Propetly, pro~ ided
that i.eoder shall give Borrowe~ nolire prior to any such inspectio~ spccifying rcasanablc cause iherefor relatcd to Lender s
interest in tha Ptopetty. ~
9. Coademnalion. The proceeds of any award or claim for damages. direct or conuquential, in cannection ~~ith any
condemnation or othcr taking of thc Propeny. or part thc~cc?f, or for canveyancc in lieu of ccu~dcmnation, arc hereby as~igned '
and shall bc paid to I_endcr.
In the eveet of a total taking of thc Pmpeny, the procceds shall bc applied to Ihe sums secured by this ~iongage. ;
with the excess, if any, paid to Borrower. in Ihe e~ent of a partial taking of the Properry, unlecs Borrower and Le~der
otherwisc agrec in writing, therc shall bc applied to thc cums sccured by this Mortgage such proportion of ihe proceeds
as is equal to that proportion Nhicfi thc amount of the sums secured by this I?tortga~te immediatcly prior to the date of
taking bears to the fair market value of the Propc~ty immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned by Borrovrer, or if. after notice by I_ender to Borcower that the condemnor offen to make
an award or settle a elaim for damages, Bonower fails to respond to Lender within 30 days aiter the date such notice is
maikd, Lender is authorize~l to collect ar~d apply the proceeds, at Lender's option, either to restoration or repair of the
Propcrty or to the sums securcd by this Mortgage.
Unless I_ender and Borrower otherwise agree in writine, any such application of proceeds to principal shall not ertend
or postpone th~ due date of the monthly installmcnts referrcd to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Bon~ower Not Reteased. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to aoy successor in ioterest of Borrower shal) not operate to release. in any manner.
the liability of the original Borrow~er aod Bc?rrower
s successorc in interest. Lender shall not be rrquired to commence
proceedings against such successor or refuce to extend time for payment or othenvise modify amortization of the sums
secured by ihis Mortgage by reason ot any demand made b~• the or:einal Borrow~r aod Borrowe~'s succuwrs in interest.
' 11. Forbqrance by Lende~ \'ot a~Vai~•er. A~y forhearance by I.ender in exercising any right or remedy hereunder. or
otherwise afforded by applicable taw, shall not be a waiver of or precludZ ihe exercise of any such right or remed~.
"il~e procurement of insurance or ihe payment of taxes or other liens or charges by Lende~ shall not be a waiver of Lender s
right to accelerate the maturity of the indebted~ess xcumd h~• this Mortgage.
IZ. Remedks Camulativa All remedia pmvided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by !aw or equity. and may be exercised concurnently, independently or successi~•ela•.
13. Successors and Assigns Bound: Joint And Se~•eral i.iabilify; Captions. The coveoants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respecti~e successon and assigns of Lender and Borrov?-er.
subject to the provisionx of pa~agraph 17 hereof. All covenants and agreements of Borro~er shall be jaint and se~-eral.
The captions and headings of the paragraphc of this Mortgage arc for convenience only and are not to be used to
interpret os define the provisions hereof. •
14. NMica Except for a~y noticc required under applicable law to be given in another manner. (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrow•er at
the Property Address or at such other address as Borrower may designate by notice to T.ender as provided herein, and
(b) any notice to Lender shall he given by certified mail, return receipt requested. to i.ender's address stated herein or to
j such other address as Lender may designate b}~ notice to Borrow•er as provided herein. Any notice provided for in this
'4 Morigage shall be deemed to have bcen givcn to Borrov?•er or l.ender when given in ihc manner designated herein.
f 15. Uniform Mortgage; Go~•ernin~ ia~: Se.-erability. This form of mortgage combines uniform covenants for nationsl
~ use and non-uniform co~•enants N•ith limited ~•ariations by jurisdiction to constitute a uniform security instn~ment co~•ering
real property. This 1liortgage shall be gove~ned by the law• of the jurisdiction in which the Property is la:ated. In the
~ event that any provision or clause of this ~tortgage or the ~ote conflicts ~vith applicabk law, such conflict shall not aBect
other provisions of this 1liortgage or the Note which can be give~ eRect without the conflicting provision, and to this
~ end the provisions of the l~tortgagc and the ~ote are Jeclared to be severable.
16. Borrovrec's Copp. Borrower shall be furniched a conformed copy of the Note and of ihis Mortgage at the time
~f execution or after recordation hereof.
l7. Tnnsfer of the Property; Aswmption. If all or am• pan of the Property or an interest thercin is sold or transferred
by Borrower without I.ender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b1 the creation of a purthase meRey ~si~s-interest for household appliances. (c) a transfer b~~ de.ise.
descent or by operation of law t~pon the death of a joint tenant or (d) the grant of a~y {easehold interest of three years or less
not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Atortga¢e to be
in~mediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
and ihe person to whom ihe Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lenckr and that the interest pa~able an the sums secured by this Mortgagt shall be at such rate as Lender ~
shall request, if Lender has ~vai~ed the option to accelerate provided in this paragraph 17, and if Borrowers successor in ~
interat hu executed a wri~ten assumption agreement accepted in writing by Lencier, l.ender shall release Borrower from ~ll ~
s
obligations under this Mortgage and the Note. ~
Tf Lender exercises s~~ch uption to accelerate. I.ender .hall mail Borrower notice of acceleration in accordance ~t ith
paragraph 14 hereof. Such notice chall provide a period of not less than 30 days from the date the notice is mailed w~irhin
whieh Borrower may pa~ the sums declareJ due. If Borrower fails to pay such sums prior to the expiration of such peried.
Lender may, without forther notice or demand on 13ormw•er. invoke an}~ remedies permitted by paragraph 13 hereof. "
Nox-UNtFOR~t Covev.~r~TS. Borrowcr and Lender further covenant and agrce as follows:
18. Accelemtion; Remedies. Fxcept as pro~ided in para~raph 17 hereof, upon Borrovre~'s breach of any co~•en~nt or
agreement of Borrower in this ~forl~~ge, including Ihe co~•enants to pay when due any sums ucured by thts Mortga~e, Lender
prior [o acceleraljon s6a11 mail aotice fo Borrovrer ss prorided in paragraph 14 hercof specifying: (1) the breacb; (2) thc action
required to cure snch breach; (3) a date. not less ~han 36 da}~s from the date the notice is mailed to Borroxer, by which such
breach must be cured; and (~i) IhaC failure to cnre such breach on or before the date spec'died in the aottce may result in
accelentioa of the sums secured by this ~iortgage. foreclosure by judicial proceediag and sale of the Property. 77~e notice
sha{I fnrther inform Borro~er of the ri~ht to ref~tate after acceteralion aed Ihe right to asserf in the toreclosure proceedinX
the non-existence of ~ default or ~ny Mher defense of Borrower to accekration and forecl~ure. If the bresch is not cured on
or before tlee date speci6ed in the notice. I.ende~ at Lender's option may declare al! of the wms secured by Ihis ~tortga~e to be
immediately due and pay-abk without Eunher demand and may foreclose this Mortga~e by judicial proceeding. Lender shall
be entiQed to collect in such proccedin~ alf expenses ot forcclosure, including. but not limiled to, ressonable attorne}~'s fees. ;
and costs of docomeatary e~~idence, abslractS and ~ille reports. . ~
19. Borrovre~'s Right to Reinstate: ~lotwithstanding Lencler
s acceleration of the sums secureJ by this ltong++ge. ~
BorrowCr shall have the right to have any proceedings begun by Lender to enforce this rlortgage discontinucd at any time
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