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Lender'~ ~vriuen agreement or applirable lavv. Bo~roHer shai) pay the am~~unt af ail mortg~ge imurancc premiums i~ thc
manner provided undcr paragraph 2 fnereof.
Any amounts dishursed b~• Len.ler pursuant to this paragraph 7, w~ith interest thereon, shall become additianal
indebiedness of Borro~~er secured b~• thic Mortg~+ge. Unlets Borro«er and I.en~ter agrce to other terms of payment, such
amaunts shall be payahlc upon nc~tice fram [.cnder to Bormwer rcyuesling paymrnt thereof, and shail hcar interest from the
date af disbursement at the rate payable from time to time on outstanding principal under the Note unless paymtnt of
interes! at such rate ~+~ouli! he contr3r~• te s~ikab~e~laµ•, in w~hich event cuch amounts ~hall bear interest at the hiRhest rate
permissible unde~ applic3ble law. Not}iiAg dcxitained in this paragrAph 7 shall require I_ender to incur any expense or take
any action hercunder.
8. IaspecNon. I_ender may make or rause to t+e made reasonable cntriec u~wn and inspections af the Property. provided
that [.ender sha0 give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Propeny.
9. CondemnaHon. The proceedc of any aw~ard or claim for damages, direct or con~equential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu af condemnation, are hereby assigned
and shall be paid to Lender.
In the event of a total taking of the Propert~~, the proceeds chall be applied to the siims secured b~~ this Mortgage.
with the ercess, if any, paid to Bormwer. in the cvent of a partial takiog of the Property. unless Borrower and Lender
otherw•i~e agree in writinR. there shall he applied to the ~ums secured b}• this Mortgage such proportion o~ the proceeds
as is equal to that proportion which the amount of the sums sec+ired by this Mortgage immediately prior to the date of
taking bears to the fair market valuc of the Pruperq~ immediately prior to the date of taking, with the balance of the procceds
paid to Borrower.
if the Property is abandoned by BorroK~er, or if. after notice by I_ender to Borrawer that the condemnor oBers ta make
an award or setNe a claim for damages. Borrower fails to respond to I_ender within 30 da}•s after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds, at i.ender's option, either to restoration or repair of the
Proper~}~ or to the sums secureel bt• this hiortgage. • ~
Unless Lender and BorroN•er otherw~ice agree in N~riting, an~• such applicatian of proceeds to principal shall not extend
or postpone the due dat: of the monthl}• installmcnts referred tQ.in paragraphs 1 and 2 hereof or change the amount of
such installments_ ~
10. ~orroa~er Not Relea~-d. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by I_e.. Pr to am• .~ccesso~ in interect of Borrovver shall not operate to release, in any manner.
the liability of the original Borrowr~ ~ Borrower'c successors in interest. i_eader shall not he required to commence
proceedings against such successor or refuse to extend time for payment or othervvise mpdify amortization of the sums
secured by this Mortgage by reason of any demand made b}• the orieinal Borrow~er and Borrower s succes~ors in interest.
1t. Forbearance by Leoder Not a Waiver. Am• f~rbearance b~• I.ender in exe~cising any right or remedy hereunder, or
otherwise aftorded by applicable iaw, shall not be a waiver of or preclude the ezercise of any such right or remedy.
The procurement of insurancc or the payment of ta~es or other liens or charges b}• Lender shall not he a v?•aiver of Lender's
right to accelerate the maturity of the indebtednetc secured hy this Mortgage.
l2. Remedies Camulative. All remedies provided in this Mortgage are distinct and cumi~lative to any ather right or
remedy under this Mortgage or afforded by law~ or equity, and may be exercised concurrently. independently or successively.
13. Succeswrs and Assigos Bound; Joint and Se~enl i.isbifity; CapNons. The covenants and agreements herein
contained shall bind, and the rights hereunder shall imire to, the respective successors and assigns of Lender and Bonov?er,
subject to the provisions of paragraph 17 hereof. All covenants and agreemcnts of Borrower shall be joint and uveral.
The captions and headings of the paragraphs ~f this Mortgage are for convenience oniy and are nrn to be used to
interpret or define the provisions hereof.
14. Notice. Except for any notice required under applicable law• to be given in another manner, (a) any notice to
I~ Borrower provided for in this Mortga¢e shall be given by mailing such notice b~~ certified mai! addressed ro BorroWer at
; the Properiy Address or at such other address as Borr~Wer ma~• designate by notice to I_ender as pmvided herein, and
{b) an}~ notice to Lender shall be given by certifieel mail, return receipt requested. to l.ender s address stated herein or to
such other address as Lender ma~• designate b}• notice to Borrawer as provided herein. Any notice pravided for in this
Mnngage shall he deemed to have been eiven to Borrow~er or t_ender w~hen given in the manner designated herein.
15. Uniform iltort~aRe; Covernin~ Law; Severabilit}•. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited ~~ariations M~ jurisdiction to constitute a uniform security instrument rnvering
real property_ This Mortgage shall be governed b~• the laK• of the jurisdiction in vvhich the Property is located. In the
~ event that any provision or clause of this Mortgage or the I~ote conflicts with applicable law, such conflict shall not affect .
uther pr~visions of this Mortgage or the Note w•hich can be given effect w~ithout the conflicting pmvision, and to this
~ end the pro~~isions of the Mortgage and thc tiote are ~Ieclared to be severable.
~ 16. Borrower's Copy. Borrow•er shall be furnished a conformed cop}~ of the Note and of this Mortgage at the time
° of execution or after recordation hereof.
17. Trsnsfer of the Property; Assumption. if all or an}• part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding lal the creation of a lien or encumbrance subordinate to
thit Mortgage. (b) the creation of a purchase mone~• security interest for household appliances. (cl a transfer b}• devise.
descent or by operation of law upon the death of a joint tenam or (d~ the grant of an}~ leasehold i~terest of three years or less
not containing an option to purchase, Lender may, at I_ender'~ option. declare all the sums secured by this Mortgage to be
~ immediately due and payable. 1_ender shall have waived such option to accelerate if. prior to the sale or transfer. I.ender
and the person to whom the Property is to be sold or transferred reach agreement in w•riting that the credit of such person
~ is satisfactory to I_ender and that the interest payable on the sumc secured by thic Mortgage shall be at such rate as Lender
shalf request. if [_ender has waived the option to accelerate provided in this paragraph 17. and if Borrower's successor in
~ interest hat executed a written assumption agreement accepted in ~writing by [.ender, Lender shall release Borrower from all
= obligations under this Mortgage and the Note.
~ if I_ender ezercises such option to accelerate. I.ender shall mail Borrow~er notice of acceleration in accordance with
~ paragraph 14 hereof. Such notice shatl provide a period of not less than 30 days from the date the notice is mailed within
_ which Borrower may pay the sums declared due. If BorroKCr fails ro pay such sums prior to the expiration ~f such period.
Lender may, without further notice or demand on ~3orrower. im~oke anp remedies permitted by paragraph 1 R hereof.
~ NoN-UNiFORi?t CovE~rAxTS. Borrower and Lender further covenant and agree as follows:
~ 18. Acceleratioo; Remedies. E:cept as provided in paragraph 1~ hereof. upon Borrower's breach of any co~taant or
ngreement of Borrower in t6is Mortgage, including the covenants to pay when due any sums secnred by t6is Mortgage, I.ender
prior to acceleratioa shall mail notice to Borrower as provided in paragraph 14 hercof specifying: (1) the brcach; (2) the ad'an
nqulred to cnrc sarh breach; (3) a date, not less than 30 dnys fmm the date the notice is mailed to Borrower, by whkh sucb
;4~ breach mmt be enrcd; aad (4) th~t failure to cure such breach on or before the date speci6ed in the notice may resdt io
- accekntioa of t~e so~ secnred by this Mortgage, foreclosure by judfcid proceeding aad sak oE the Property. 'ILe notice
;l~ shall furtber inform Borrower of the right to reinstate after accekration and the rig6t to assert in the foreclosnro proceeding
the non-existeace of s defauk or any other defense of Borrower to acceleration and forecbsure. if the bresch is not cnsed on
~ or beforc the date speci&d io the notice. Lender at Lender's option may declare all of the svms secured by this Mortga~e M be
immediatdy due aad paysble without further demaad and may foreclose this Mortgs~e by judicial proceedin~. Lender shall
'a be ent~ded to cdkct in sac~ proceedin6 nD e=peases of foreclosure, includiag. but not l~mited to, rcasoaable ritorney's fees,
snd costs of documentuy evidence, abstractc and titk roports. ~
19. Borrower's Rig61 to Rei~tate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage,
Borrowe~cYs}~al~ have the ri$ht to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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