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Le~der's written agrcement or applicable law. Borrower shall pay the amount of all mortgage insura~ce premium: in the
man~er provided under paragraph 2 heeoof. ~
Any amounts disbuned by Lender.pursuant to thi: paragraph 7, with intercst thereon. shall becomc additional
inskbseds~ss of Burrowrrr stcurtd by this Mottgage. L~'nlrss BarroYrsr and !_anckr agrce to oiher te~ssts ot payrt~snt. sush
amaunts shall be payablc upon ~~tice f~om l.ender to Bormwer requesting payment thereof, and shall bear interest from the
date of d[sbursemcnt at the rate payabk from time to time on outstanding principal under the Note unless payment ot
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interat at the highest nte
permissibk under applicable law. Nothing contained in this paragraph 7 shall require Lend~r to incur any expense or taka
any action hcreuader.
8. InpecHoe. Lender may make or cauu to be made ressonable entries upon and inspections of the P~operry, provided
that Lender shall give Borrower notice prior to aoy aueh inspection specifying reasonable cause therefor related to I.ender's
interest in the Property.
9. Condemeatba. The proqegds effany Award or claim for damaga, direct or consequential, in connection with any
condemnatio~ or dher taking of the Property, or part the~eof. or for conveyance in lieu of condemnatioo. are hereby assigned
and shall be paid to Lender.
_ In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mortgage,
with the excess, if any, paid to Bonower. in the eveot of a partial taking of the Property, unlas Borrower and L.ender
otherwise agree in writing, ther~e shall be applied to the sums secured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums ucurcd by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Property immediately prior to the date of taking, wifh the balance of the pmcads
paid to Borrower.
If the Property is abandoned by Borrower, o~ if, after notice by Lend~r to Bort~ower that the condemnor ofttrs to make
an award or settle a claim far damages. Borrower fails to respond to Lender within 30 days after the datt such notici is
mailed, Lende~ is authoriud to cotlect and apply the proceeds, at L.ender's option, either to restoration o~ repair of the
Property or to the sums securcd by this Mortgtage.
Unless Lender a~d Borrower otherwise agrce in writing, any such application of proceeds to principal shall not extend
or postporK the due date of the monthiy installments nferrcd to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Bonower Not Rekaad. Eztension of the time for payment or modilication of amortization of the iUms socured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to rclease, in ang manner.
• the liability of the original Bonower and Borrower's successon in interest. Ltnder shall not be rtquired to commence
procce~iings against such successor or rcfuse to extend time for payment or otherwix modify amortiution of the sums
secured by this Mortgage by reason of any demand made by the originxl Borrower and BorrowePs successors in interesi.
l l. Forbanace by Geadcr Not s Wdver. Any forbearance by Lender in exercising any right or rcmedy henunder, 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 insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender'a
right to accelerate the maturity of the indebtedness secured hy this Mortgage.
l2. Remedks Camnlati~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively. !
13. S~ecessors and Assiges Eouad; Joint and Several T.iabirity; Captbos. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inurc to, the respective successors and assigr?s of Lender and Bomower,
subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Borrower shal) be joint and several.
The captions and heedings of the ~+aragra~he of thic Mortgage arc for conveni~nce ~nly and ar+e not to be used to
interpret or defin~ the provisions hereof. .
14. Notke. Except for any notice 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 Borrower 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 be given by certified mail, return receipt rcq~xsted, to I.ende[ s address stated hercin or to
such other add~ess as Lender may designate by notice to Borrower as provided herein. An~l notiee provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when givtn in the manner d~signated herein.
lS. Uniform Mortga6e: Governie~; Law: SevenbWty. This form of mortgage combines unifonn covenants for national .
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security.instrument rnvering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Praperty is located. In the
~ event that any provision or clause of this Mortgage or the Note conflicis with applicable law, such conflict shall not af`ect
other provisio~n of this Mortgage or the Note N~hich can be given effect without the conflicting provision, and to this
end the provisions of the MortgaFte and the Note are declared to be severabla
16. aorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of exxution or after recordation hereof.
~ 17. Traaifer of t6e Propertv; Assumption. if all or any pan of the Property or an interest therein is sold or 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 security interest for household appliartces, (c) a transfer by devise.
~ descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold 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 Mortgage to be
~ immediatety due and payable. Lender shall have waived sach option to accelerate if, prior to the sale or transfer, i.ender
~ and tfie person to whom the Property is to be sold or transferrcd reach agreement in writing that the credit of such person
~ is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
~ shall request. if Lender has waived the option to accelerate provided in this paragraph l7, and if Bortower's successor in
~ interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
s obligations under this Mortgage and the Note.
~ If Lender exercis~s such option to accelerate, [_ender shall mail Borrower notice of acceleration in accordance with .
~ paragraph 14 hereof. Such notice shall 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 Borrower fails 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.
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x Notv-UHtFORM Covetv~NTS. Borrower and t,ender further covenant and agree as follows: .
~ 18. Acceleratioa; Remedks. E:cept as prorided ia para~rsPh 17 hereof. opoa Borrowe~s bresch ot ay co~eoaet or +
agreemcet of Borrower in t6is Mort`a~e, iaclodie~ tbe rnvenaMs to pay when dne ~ay sows saered by t64 Morttqe, I.ender
~ prbr to accekntba sLall mail notke b Eorro~ver as provided in parajrspb 14 hereof specNy~: (l) tbe breac6; (2) tbe aetbn
rcqolred be core soc6 breac6; (3) a date, not las tban 30 days trom the date the aotice b e~dled to Borrower, by ~?Wc6 ssc~
breac~ mwt be cercd; aad (4) tbat taitnro to cure sach breuh oe or before t6e date speci6ed ~ t6e notice ~oa~ res~dt la
- sccekratloa of ttie sams iecond by t6is MortBKe, forecbwre by )ndicW proceedios and sak ot tbe lroperlr. 7tie notke
a6a11 fortber istorm Eorr~on~ ot the ri`6t to reiffitafe after sccekranos aod t6e ri~Yt b arsert is tre for~closnre Woeecdi~ ~
t~e aoo-e~teoce of a defsuk or any other detease of BoROwer to acce{eratioa snd for~eclowre. H d~e breacl~ i~ not c~ed oo i
" or bdon the date specilied ia tbe wtice. Lender at Leeder's option may declare a~ of tbe wws secwed by t~ Mo~e b be
? immedistdy doe and p~yable wk6oet furt6er demaod aad maY foreclo~e t61s Mortsa~e b1 jndkid P~. Leader sha~
; be entitled to colket in s~c6 proceedin6 ~ e:pensa of forecbsure, isclndln~. bot aot Umited to, rtaroeabk attorse~'s tea,
~ aed cosb o[ doeoneatary evidcnce, abstr~cb aad tltk rcporb.
= 19. dorrower's Rl`6t to Rei~tate. Notwithstanding Lender's acceleration of tF~e sums secured by thia Mortgage,
Bortower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinuod at any time
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