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I.ende~'s written agrcemeat or applicable law. Borrower shall pay the amount ot all mongagc insurancc premiums in the
manner p~ovided undct paragraph 2 heroof.
Any amounts disbursed by I.cnder pursuant ta this parag~aph 7, with interest thercon, shal! becomc additional ~
indebtedneu of Borrower securcd by ~his Mortgage. Unless Borrower and I_en~itr agrce to othcr terms of payment. such ~
amounts shall be payable upan notice f~om Lender to Borrowe~ requestiog payment thereof, and shall bear interest from thc
date of dLsburscment at the rate payable from time to time on outstanding principal under ihe Note u~tess payment of ~
interat at such rate would be contrary to apPlicable law, in which event such amounts shap besr interest at the highest rate ~
permiasibk under applicabk law. Nothing contained in this paragraph 7 shall roquire Lendet to incur any expense or take
any action hereuader. ~
8. i~specNoa. Lender may make or cause to be made reasonable en~ries upon and inspections of the Property, p~ovided
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e p ri o r t o any suc h inspec tion speci fying reasona
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interest in-the Propcrty,
9• Ca~demuatbn. The proceeds of an y award or clai m f
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condemnation or other taking of the Property, or pan ihereof, or for conveyance i~ lieu of condemnatio~. are hereby assigned ~
and shal! be paid to Ltndcr. . :
Tn the event of a total taking of the Property, the proceeds shall be applied to the sums securcd by this Mortgage, ~
with the excess, if any, paid to Borrower. in thc event of a partial taking of the Property. untess Borrower and Lender .
otharwise agree in writing,- there shalt be applied to the sums secured by this Martgage such proportion of the proceeds ~
as is equal to lhat~ proportion which the amount of the sums secured by this Mortgage immediately prior to ihe date of f
taking bears to the fair mark~t value of the Property immediately prior to the date of taking, with the balance of the pr~oceeds ;
paid to Borrower.
If the Propcrry is abandoned by Barrower, or if, after notice by i.ender to Borrower that the condemnor oBets to make
an award or settle a claim for damages, Borrawer fails to respond to I.ender within 30 days after ihe date such notice is
mailed, Lender is suthorized to collect and apply the proceeds, at I.ender's option, either to restoration ar repair of the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree irt writeng, a~y such app)ication of proceeds to principal shal) not extend
or postpone the d~c date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such inatallmer.is.
10. Eorra~er Not Released. Extension of t6e time for payment or modification of amortization of the sums secured
by the~ Mortga~e grat;ied by I.ender to anv successor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower a~d Borrower s successars in interest. Lender shall not be required to commence
proceedings qgainst ~ueh successor or refuse to e~teod time for payment or othenvise modify amortization of the sums ~
secured by this Mortgage by reason of any demand made by the ori¢inal Borrower and Borrower
s successors in interest. a
l l. Forbe~ira~ece by Lender 1Vot a Waiver. Any forbearance by I.ender in exercising any right or remedy hereunder, or ~
otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurapce or the payment of tares or other liens ar charges by I_ender shall not be a waiver of Lender's ~
right to acceterate the maturity of the indebtedness cecurcd hy this Mortgage.
l2. Remedies CwnulaHre. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy u~der this Mortgage or afforded by law or equity, and ma~~ be exercised concurrenUy, independently or successively.
1'~• Snccessors and As~gns Bound; Joint and Sereral i.iability; Captioas. The covenants and agreements herein
contained shali bind, and the rights hereunder shall irture to, the respective successors and assigns of Lender and Borrower,
subject to the provisions of paragraph 17 hereof. All co~enants and agreementa of Borrower shall be joint aad several.
'ilu captions artd headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
interpret or d~fine the provisions hereof.
t4. Notice. Except for any notice required under applicable !aw to be given io another manner. (a) any notice to
Borrower provided for in this Mortgage shall be given b~ mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall be given by certified mail, return receipt requested, ro l.endtts address stated t~erein or to
such ~other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrov?er or [_ender when given in the manner designated herein.
I5. Uniform Mortgase; Governin~ Iaw; Severab~ity. 'L~is form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
r~ea) property. This Mortgage sha11 be governed by the law of the jurisdiction in -which the Property is located. In the ~
event that any provision or clause of this Mortgage or the Note conflicts with aPplicable law, such confliet shall not affect y
other provisions af this Mortgage or the Note which can be given efTect without the conflicting provision, and to this ~
end the provisions of the Mongage and the Note are declared to be severable.
16. Borrower'a Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof. ~
17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is soid or iransferred ~
by Borrower without Lender's prior written consent, excluding (al the crration of a lien or encumbrance subordinate to
this Mortgage, (b) ihe creation of a purchase money security interest for household appliances, (c) a transfer by devise, ~
descent or by operation of law upon the death of a joint tenant ar (d? the grant of any leasehold interest of Ihree years or less ~
not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be ~
immediatety due and payable. Lender sha11 have waived such option to accelerate if, prior to the sale or transfer. Lender ;
and the person to whom the Propeny is to be sold or transferred reach agreement in writing that ihe credit of such petson ~
is satisfactory to Lender and that the interest payable on the sums secured 5y this Mongage shall be at such rate as Lender ~
shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~
interest has executed a written assumption agreement accepted in writing by Lender, Lender shal! release Borrower from all ~
obligations under this Mortgage and the Note. ;
If Lender exercises such option to accelerate, i_ender shall mail Borrower notice of acceleration in accordance with ~
paragraph 14 hereof. Such notice shall provide a periocl of not less lhan 30 days from the date the notice is mailed within ~
which Borrower may pay the sums declared due. If 8orrower tails to pay such sums prior to ihe expiration of such period,
Lender may, without further notice or demand on ~Borrower, invoke any remedies permitted by paragraph 18 hereof.
NoN-UN~FOR~t CovErr~tvrs. Borrower and Lender (urther covenant and agree as follows: ~
18. Accele~ion; Remcdks. Ezce as rorided io '
pt P paragrap6 l7 bereof, epoa Bomuwer's breach of aay covenaat or }
agreemcnt of Borrower in t~is Mortgage, incladi~ t6e coveaants to pay wben due aoy sums secored by ti~ Mort~ate, I.ender . ~
prior to accekratba s6a11 e~ail ootke to dorrower as provided ia paragrapb 14 hereof specifyios: (I) t6e briach; (2) t6e acHoe
reqnired to core sac6 breac6; (3) a date, not less t6an 30 da~s from the date the uotice b mdled to Bomuwer, by w6ic6 soc~
breach mad be cored; aod (4) tbsf failore to cart sach brcach on or before t6e d~e specj8ed #n tbe aotice ~aay resdt in
sccdentioa of We s~ms secared by tbis Mortgage, forecbsure by jndicial proceediog aad sak of tLe Property. T6e aotice .
s6~11 fart6er luform Borrower ot tbe r~bt to reiustate after accekration aad t6e rigbt to assert ia tbe foreclowre proceedi~
the non-e~teace d a defanlt or any other defenx oE Borrower to acceleratioa and foreciosurr. If t6e brrach is not ctired on
or before t~e ~te ~ed in t6e notke, Leader at Lender's option may declars sp of tbe sums secared by t6is Mortsate b be
jmmediatdy doe and payaWe wltbwet furt6er demand and may forecloee t6ts Mortgage by judicW proceediu`, Leader a~
be entitled to collect io wcb proceediu~ a9 e~ensa of forecbsnre, includlo=, but rat timited to. reasonsbk attorne~'s tces,
and eosb of docnmeatary evidence, abshacb aal title reporls.
19. Dorrnrrer's R1~bt to Reimtate. Notwittutanding Lender s acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedin~s begun by Lender to enforce this Mortgage discontinued at any time
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