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Lender's written agrament a applicabb law. Borrower shall pay the amount oL all ntortdttge instxanoe.pemiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by I~nder pursuant to this paragraph 7, with iatetest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and !.ender agree to other terms of payment, such
amounts shall be payable upon nMice from Lender to Borrower roq~ttesting payment thereof, and shall bear interest from the
date of dishursetnent at the me payable tram time to tune on alt:landing principal under the Note unless payment of
interest at such me would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
a. Inspection. 1_ender may make er c,~use to be made reasonable entries upon and inspections of the Property, provided
that Lender shall give Borrower Aotlc! pnb~ to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Cotrdem~atiott, The proceeds of any award or claim for damages. direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereat, or for conveyance in lieu of condemnation, arc hereby assigned
and wall be paid to Lender.
1n the event of a fatal taking of the Properly. the proceeds shall be applied to the sums sectrrcd by this Mortgage,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds t
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Properly immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoned by Bar:ewer, or if. after notice by lender to Borrower that the condemnor offers to make
an award ar settle a claim for damages, Borrower fail. to respond to Lender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds. at lender's option, either to restoration or rcp;tir of the
Property ar !e the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
11. Borrower Not Released. Fxtensien of the Time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any ctrcCecser in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and &~rrewer c successors in interest. Lender shall not be required to rnmmence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the .urns
ser:ured by this Mortgage by reason of an}• demand made by the original Borrower and Borrowers successors in interest.
11. Forbearance by Lender Not a Waiver. Any ferhearance by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall net be a waiver of er preclude the exercise of any such right or remedy.
The ptocttrefient of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies Cmm~lathe. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law er equity, and may be exercised concurrently, independently or successively.
13. Sncceeors and AssiRes Bound: Joint and Sereral I.iabitity; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender geld Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only and arc not to be used to
interpret or define the provisions hereof.
14. Notice. Ezcept for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mertga¢e shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address er at such otherrddrecs as Borrower may designate by notice to Tender as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to Lenders address stated herein ~r to
such other address as Lender may designate by rx~tice t~. Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Burrower or !.ender when given in the manner designated .herein.
1S. Uniform Mortgage; Governing law: Sererability. This form of mortgage combines uniform covenants for national
i use and non-uniform rnvenantc with limited variations h}• jurisdiction to rnnstitute a uniform security instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. Tn the
event that any provision or clause of this Mortgage i•r the Nrte conflicts with applicable law, such conflict shall not affect
Ij other previsions of this Mortgage er the Note v?hich can he given effect without the conflicting prevision, and to this
end the provisions of the Mortgage and the Mote arc .kclared to he severable.
16. Borrower's Copy. Borrower shall be ftirni',hed a conformed cope of the Note and of this Mortgage at the time
of execution or after recordation hereof.
f 17. Transfer of the Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior wrinrn consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase m~roe}• cecurit}• interest for household appliances, (c) a transfer by devise,
descent or by operation of law upon the death of a j~~int tenant er (d) the grant of any leasehold interest bf 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 j
immediately due and payable. Lender shall have waived s~ich option to accelerate if, prior to the sale er transfer, lender
$ and the person to whom the Property is to be :ol.l or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest pa}.able en the sums secured by this Mortgage shall be at such rate ac lender
shall request. If i_ender 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 shall release Borrower from all
obligations under this Mortgage and the Note.- f
~ If lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in acrnrdancr s~ ith
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days tram the date the notice is mailed within
t which Borrower may pay tht sums declared due. If Borrower fails to pay such sums prior to the expiration of such period.
I Lender may, without further notice er demand en iterrower. invoke any remedies permitted by paragraph 18 hereof.
j
Note-UNIFORM Covt=_rvnHrs. Borrower and Lender further covenant. and agree as follovrs:
t 18. Accekratiw; Remedies. Except as provided is paragrsph 17 hereof, oporr Borrower's breach. of any corenawt or
agreement of Borrower is this Mortgage, iwduding the corenaMs to pay whoa tine any sours aecared by this Mortgage. Lender
~ pr~rr to aKCekntbw sbaU mail notice to Borrower as provided in pars=rspb 14 hereof specNyiag: (1) the breach; (2) the actbn
a regoircd to care stub breseb; (3) a date, tsot less thsa 30 days from the date the notke b eaikd to Borrower, by which such
breach etat be cared; and (4) that fsilnrc to care such breach on or before the date specified is the notice may result in ~
aKeeleratioe of the saes steaired by this Mortgage. foreclosure by jndkW proceeding gad ss~c of the Property. The notice
4 shall further inform Borrower of the right to reinstate after acceleration gad the right b assert is the totreclosnrc proceeding €
the noo-existence of a defanit or nary other defense of Borrower to sccekration and forecbwre. If the breach is not cared on
or before the date speci6cd 4 the wotke. Lender at [.ender's option may declare ap of the sums stcnred by this Mort~,e to be
immediately due sad payable without further demand and may foreclose this Mortgage by jndicW proceeding. I_en~ler shall
p pe ding, bat mot limited to, reasonable :•tt.,rne is fees.
be entitled to collect iA such rocetdirrg aN ex uses ~~f foreclosure. hxlu
and costs of ~ioc~~serrtary evidence, abstracts and titk.rcports.
19. Borrowa's Right to Reiatststt. Notwithstanding Lender's acceleration of the sums secured by this M.~rtgage,
~ Borrower shall have the right to have any proceedngs begun ~y Lender to enforce this Mortgage discontinued at any time
s~o~ 306 PACE2VO~
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