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' Lender's written agreement or applicabb law. Borrower shall pay the amount of all mortgage instuanoe premiums in the
manner provided under paragraph 2 heron[.
• Any amounts disbursed by lender pursuant to thu paragraph 7, with interest tbereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the'
date of disbursement at the rate payable from time to time on attstanding principal under the Note unless paymatt of
interest at such rate would be contrary to applicable law, in which event such arttounts 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.
s. Iwspecfieo, Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice pt'ior •to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9, Cowdeatptbw. The proceeds of any award or claim for damages, direct or consequential, in rnnnection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are beroby assigned
and arcs!! 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 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
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 Property immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoned by Borrower. or it. after notice by Lender to Borrower that the rnndemtar oBers to make
an award or settle a claim for damages, Borrower faik to respond to tender 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 repair of the
Property or to 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 Nof Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any cttccessor in interest of Borrower shall not operate to release, in any manner.
the liability of the original Borrower and Borrower's sttccessorc in interest. Lender shall not be rrgttircd to commence
proceedings against such successor or reface to extend time for payment or otherwise modify amortization of the wms
secured by this Mortgage by reason of troy demand made by the original Borrower and Borrowers successors in interest.
tl. Forbearance by i.tader Not a Wsiver. Any forbearance by I.cnder 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 rcrrtedy.
The procurement 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 indebtednea secured by this Mortgage.
12. Rtatedks Cannlatite. All remecies provided in this Mortgage arc 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. Sreceasors sod Assigws Found; Joist and Several Liability; Captbws. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower.
subject to tbe provisionx of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notke. Except for any notice rcyuired 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 rosy designate by notice to Lender as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt rcquexted. to !.enders address stated herein 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 Borrower or lender when given in the manner designated herein.
1S. Uniform Mortgage; Governing Lary; Severability. This 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
real property. This Mortgage shall 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 conflict shall not affect
other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note arc declared to be severable.
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~ 16. Borrower's Copy. Borrower shall he furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
~ 17. Trawsfer of fhe Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior wriuen cuncem. excluding (al the creation of a lien or encumbrance subordinate to
! this Mortgage, (b1 the creation of a purchase- money security interest for household appliances, (c) a transfer by devise.
4 descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less
not containing an option to purchase, Lender may. at l_ender't option, declare all the sums secured by this Mortgage to be
( immediately dtie and payable. Lender shall hale wais•ed such option to accelerate if, prior to the sale or transfer. I.encier
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 payable on the sums secured by this Mortgage shall be at such rate ac lender
shall request. if tender has waived the option to accelerate provided in this paragraph 17, and iF Borrower's successor in
j interest haz executed a written assumption agreement accepted in writing by Ixnder. Lender shall release Borrower from all
~ obligations under this Mortgage and the Note.
if Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not lest than 30 days from the daft 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,
E Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
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€ Note-UNIFORM CoveNetvTS. Borrower and (.ender further covenant and agree as follows:
I is. Accekratba; Retsredks, E:ceps as provided iw paragraph 17 hereof, epow dorrowet?s breach of say covewawt or
agreettsewt of Eorrower is this Mortgage, including the covewnts to pay whew dae say srnrs st:crrea by this Mortgage. Lewder
prior to accekr:tlow shall trail aotke fo lorrower as provided Iw paragraph 14 hereof specifying: (1) the breach; (2) the sdba
trcgrired to erne stash 6resch; (3) s date, not less thaw 30 days from the date the entice is teaseled to >sorrower, by which such
breach most be erred; and (4) that failure to cure arch breach on or before the 'date specilieai iw the ratke may resuN in
sceekrstlow ~ the sans secured by this Mortgage. foreclosure by j;rdkid proceednwg awd sale of the Property. The notice
f shag further iatorm Eorrower of the right to reinstate after sccekrstbw sad the right b assert iw the totecbsrre ptrocee~tg
the wow-exMewce of a defsrk or say other defense of Eorrower fo accekrafbw awd forecbsure. It the brexh is wet cnr~ed ow
or before the date specifled s4 the wotke, Lewder at t.crtder's optbw may declare sw of the srw,s secured by this Mortgage to be
immediately due awe payable without fnrther demand and rosy forec{ost tbk Mortgage by jrdkitl ProctediwR. Lender shall
be entitled to collect iA sash proceeding sB expenses r,f foreclosure, iaclyditrg, but nM Wwittd to. «asoasbk atturnri's fees.
e and costs of wrc:~wewtaq evidewce. abstracts sod tick reports.
19. ll<orrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by the M.~rtgage,
e Borrower shall have the right to have any proccedtngs begun ~y Lender to enforce this Mortgage discontinued at any time
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