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Lender's written agreement or applicabk law. Bormwer sh~dl pa% ~he amount•~ Nr mortgage inwrance premiums in the
manner provided under paragraph 2 hereof.
Ariy smounls disbursed ~y Leodd~ pursuant. to this paragraph 7, with ~iaterest thereon, shall become additional ~
iockbtodMSS of Borrowc~ securcd by this Mortgage. Unless Bonower and l.enJer agree to other temu of payment. such
amcw~ts shall be payabk upa~ nolice from l.ender ta Borrowe~ requesting payment Ihc~eof, and shall bca~ inte~est from the
date of disbursement at the rate payabk (ram timc to time on ansta~ding principal under the Note unless payment of
interest at such nte would be contrary to applicable law, in v?hich event such amounts shall bear interest at the highest rate ~
permiast'bk unde~ applicabk law. Nothing cootained in this parag~aph 7 shall roquit+e I.ende~ to incur any expe~ue or take
any action herew~der. ~
8. i~pectie~. I~nder may make or cause ta be made rcasonable eMries o{xm and ins{x~ctions of the Property. provided
that Lender shall give Borrower natice prio~ to any such inspection specifying reasanabk cause therefor relatcd to Lender's
interat in the Property.
9. Co~de~nqfb~. The proceeds of any award or claim fot damaRes, direct or conuquential, in connection with a~y
condemnation or dher taking of the Property, or patt therec~f, or for conveya~ce in litu of condemnatioo, are hereby assigned
and shall be paid to Lender.
In the event of a tatal taking of the Praperty. ~he proceeds chall t~e applied to the sums securcd by this Mortgage.
with the excess, if any, paid to Borrowe~. Tn ~he event of a partial taking of the Propeny, unless BoROwer and I.e~der
otherwise agra in writing, there shall be applied to the cums secured by this Mortgag~ such propoKion of the proceeds
as is equal to that p~oportion which thc amount of the sumc sccurcd hy this Mortgage immediately priar to ihe date of
taking bears to the fair market value of 1he Property immediately prior to the date of taking, with the balance of the proceeds
paid to Borrowcr. '
If the Property is abandoned by Borrower, or if. after notice by I.ender ta Bormwer that the condemnor offers to make
an award or'settle a claim for damages, Borrawer fails ta res~nd to l.ender withio 30 days after the date such notice is
maikd. I.ender is suthoriud to collect and apply the proceeds, at I_ender c option, either to restoration or repair of the
Propeny or to ihe sums secured by this MortRage.
Unless Lemier and Borrower otherwice agree in writine. any such application of proceeds to principal sha0 not extend
or postpone ihe due date of the monthly installments referrcd ta in paragraphc 1 and 2 hereof or change the amaunt of
such installments.
10. ~rower Not Released. Extension of the time for payment or modification of amartization of the siimc secured
by this Mottgage granted by I_ender to any succes~r in intemst of Borrow•er shall not operate to ralease. in any manner.
the liabifity of the original Borrower and Borrower e successors in interest. i.ender shall not be required to commence
proceedings against such successor or refuse ta extend time for payment or otherwise modify amortization of the sums
secured by this Mo~tgage by reason of any demand made b}• the original Borr~wer and Borrower
s successors in interest.
11. ~Fosbearance 6y Lender Not a Wairer. Any f~rt~earance by l.c~der in e~ercising any right o~ remedy hereunder, or
othervti,ise aBorded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
'il~e pr~curement of i~urance or the payment af taxes or other liens or charges by I.ender shall not be a waiver of Lender3
right to accelerate the maturity of the indehtedness secured hy this Mortgage.
l2. Remediea C~ubtf~e. All remedies provided in ihis Mortgage are distinct and cumulative to any other right or
reinedy under this Mortgage or afforded by law or equity. and may be exercised concurrently. independently or successively_
13. Sacce~ors aad A~igos Bound; Joint aad Several i.iaiN'litY; Captions. The covenants and agrcements herein
contained shall bind, and the rights hercunder shall inure to. the respective successors a~d assigns of 1_ender and Borrower,
subjtct to the provisions of paragraph 17 hereof. All covenants and agreement~ of Barrov?•er shall be j~~int and several.
'il~e captions. and headings of the paragraphc of this Mortgage are for convenienre only and are not to be used to
interpret or define the provisions hereof.
. l4. NWict. Except for any notice rcyuired undcr 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 B~rrower at
the Property Address or at such other addrecs as Borrower ma~• designate by notice to T.ender as provided herein, and
(b) any notice to Lender shall be given by certificJ mail, retum receipt requested. to l.ender s address stated herein or to
such other address as Lender may designate by notice to Bormwer as provided herein. Any notice provided for in ihis
Mortgage shall be deemed to have been given to Barrow•er or Lender when given in the manner designated herein.
15. Uniform Mort~a~e; Governin~ Iaw: Severability. This form of mortgage combines uniform covenants for national
; use and non-uniform covenants with limited variations b~~ jurisdiction to constitute a uniform security instniment covering
~ real property. 'Il~is MoFtgage shall be governed hy the law of the jurisdiction in which fhe Property is located. In the
~ event that any provision or clause of this Mortgage or the Note canflicts N~ith applicable law, such conflict shall not affect
other provisions of this Mortgage or the Notr which can be given efTect without the canflicting provision, and to ihis
~ end the provisions of the Mortgage and the Note are Jeclared to be severable.
16. Eorrowe~s Copy. Borrower shall be furniched a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof. -
17. Traasfer of t6e Propertp: Assumpfion. If all or any part of the Property or an interest therein is sold or transferrcd
by Borrower without I.ender's prior writtcn consent. excluding (al the creation ot a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchaxe mone)~ security interest for household appliances, (c) a transfer tn devise.
descent or by operation of law upon the death of a jaint tenant or (d? tke grant of am• leasehold interest of three years or less
not containing an option to purchase, Lender may. at l.ender'~ option. declare all the sums secured by this Mortgage to be
immediately due and payable, Lender shall have K~aived such opti~n to accelerate if, prior to the ~ale or transfer. I_ender
and the person to whom the Properry is to be sold or transferred reach agreement in writing that the sredit of such person
is satisfactory to Lender and that the interest payable on the sums sec~red by this Mortgage shall be at such rate as 1_ender
shall request. if Lender has waived the option to accelerate provided in this peragraph 17, and if Borrower's successor in -
interest has executed a written assumption agreement accepted in writing by t_ender, Lenckr shaU release Borrower from all
obligations under this Mortgage and the Note.
If Lender exercises such option to accelerate. i.ender shall mail Borcower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a perial of not less than 30 days from the date the notice is mailed within
which Borrower may pay the sums dcclared due. If Borrow~er lails to pay such sums prior to the expiration of such period,
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
Notv-UN~FORM Coverurrrs. Borrower and Lender further covenant and agree as follows:
` 18. Acceleratiob; Re~edies. Esceq as pmrided io paraRraph 1'7 henof, upoo Borrower's breach of any conoant or
~ agreemeot of Eorrower in t6is Morl~aae, inclndi~ t~e coveoants to pay when dee any soms secared by tbfs Mort~a~e, I.eader
prior to aecdenfb~ s6aS a~ail aotke to Eorrower as pmvided in Wr~bnph 14 6ereot speciEyio6: (1) the Meach: (2) t6e actioa
rtq~rea to ca+e soch brescb; (3) a date, eot le~ than 30 days fmm tbe date the aotke ls mailed to Borrower, by whk6 snc6
breach mwt be cved; a~d (4) tbat hilnre to cure snch breach oa or before tbe date speci6ied ~a tLe autice ioay resdt ia
accdrratb~ of tbe swes sccrred by this Mortg~ge. forecbsure by jndic~l proceedio~ aod sale of t~e Pwperty. 'l~e aotice
- s6aU hrfier iatwta lior~+ower of tbe ri64t to rciastate after accekratloo aed tbe rig6t to ~ert ia tLe foreclo~ore ~
~ ttie oon.e~eteace d~ detsdt or a~y atber defe~e of doROwer to sccekratioe aad foreclowre. I[ the 6resc~ is nM cared oa
or 6efore ttie dMe ~a~ed ~ t6e ootke. Lender a1 Leoder's option may decLre sY d the ~eds secsrcd by ti~is Mortaa~e to be
im~edittdy doe aaa payabk wit6oat f~rtber demaad and may forecloee t6b Morl~a~e byY f odicW proceedio~. Lewder s6av
be ~ to coBeet i~ weti procecdioa a~ espe~es of foreclosore, iecledie~, b~t not limited to, raroeabk sttorse~'s tess,
aed cos4 ot iec~a~ etidence, s6dnicts aod tide reporis. - ~
19. Don+nwer's Ri~it to Re~tate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage.
Borrower shall 6ave the rig6t to have any procoedings txgun by Lender to enfarve this Mortgage discontinuod at any time
eoar~ 28~ ~c~ ?61
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