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l.ender's writtea agreement or applicable law. Borrower shall pay the amount oi all mortQage insuraace premiums in the
manner provided unde~ psragraph 2 heroof.
Any amounts disbursed by Lender punuant to th~ paragraph 7, with interest thereon. shall become ~dditional
indebtedness of Borrower secured by this Mongage. Unless Borrowe~ snd I.ender agcee to othe~ tenns of payment. such
amou~ts shall be payabk upoo notice from Le~der to Bon~ower roquesting payment thereof, and shall bea~ interest frota the
date of disbursement at the tate payabk from time to time on outstanding principal under the Note unleas pnyment oi
interest at such rate would be contrary to appiicable taw. in which event such amounta sh~ll bea~ inierest at the highest rate
permissibk under applicabk law. Nothing containtd in this puagraph 7 shall requir~e Lender to i~cur u?y expea~e or tdce ~
any action hereunder.
8. I~spectloa. Lender may make o~ cause to be made nasonable entries upon and inspections of the Property. provided
that I.eoder shall give Borrower notic~ prior to any such inspoction spocifyi~g reuonable cause therefor nlated to Lender's
interest in the Propecty.
9. Coadeennadou. The proceeda'so~ s~y ~vN~rd~or claim for damages, dimet or consequential, in connection with any
condem~ation or dher taking of the Property, or paM thercof. or for conveyance in lieu of condemnation. are hereby assigned
and shall be paid to Lender.
Ie 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 agrx in writing. there shall be applied to tfie sums socur+ed by this Mortgage such pmportion of the proceeds
as is equal to that proportion which tht amount of the aums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Propeny immediately prior to the date of taking, with the balance of the prooeeds
paid to Borrower.
If the Property is abandoned by Borrower, or if, after ~otice. by I.ender to Borrower that the condem~or ot[era to make
an award or settle a claim for damages, Borrower fails to rapond to Lender within 30 days after the date sucfi notice is
mailed, Ltnder is authoriud to rnllcet and apply the proceeds. at Lender's option, either to ratontion or repair of the
Propeny or to the sums secured by this Mon~ttage. ~
Unless Lender and Borrower otherwise agree in writing, any such applicatian of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 htr~eof or change the amount of
such i~stallmeats.
10. Sormwer Not Rekased. Extension of the time for payment or modiflcation of amortization of the sums secured .
by this Mortgage granted by Lendcr to any successor in interest of Borrower st~all not operate to release, in any manner.
the liability of the origiyal Borrower and Borrower s succeuors in intercst. Lender shall not be required to rnmmence
proccedings against such successor or refuse to extend time for payment or_ othenvise modify amartization of the aums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower
s successors in interest.
11. Forbeararice by i.ender Not s Wdrer. Any forbearance by i.ender in exercising any right or remedy hercunder. or
othervrise afTorded lry applicabte law. shall not be a waiver of or proclude the exercise of any - such right or nmedy.
The procucernent of insurance or the paymeot of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accele~ate the maturity of the indebted~ess secured hy this Mortgage:
12. Remedies Cnmolathe. 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 eaercised concurrently, independently or successively. ~
13. S~cceasors a~d Assi~ai dound; 7oint aad Several i.iabilft~; Csptbns. 'It~e covenants and agreements herein
contained shall bind. and the rights her~eunder shall inure to, the respective successors and assigns of Lender and Borrower.
subject to the pravisions of paragraph 17 hereof. All covenants and agreements of Borrower ahall be joint and several.
71~e 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. Notlce. Eucept 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 addr~ssed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
(b) any notice to Lender shall be given by certified mail, retum receipt rcquested. to Lender s address stated herein or to
such other address as Lender may designate by notice to Borrower as provided herein. Any notice providod for in this
Mortgage shall be dcemed to have been given to Borrower or i.ender when given in tfie manner designated herein.
! lS. Uniform Mortsage; Govemin~ Lar.: 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 rnvering
f 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 shal! not affect
~ other provisions of this Mortgage or ihe Note which can be given effect without the conflicting provision, and to this
~ end the provisions of the Mortgage and the Note are declared to be severable.
~ 16. Eormwer's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mongage at the time
of exocution or after recordation hereof.
17. Transfer of t6e Prope~; Assumption. If all or any pan of the Property or an interest therein is sold or transferred
by Borrower without I.ender'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 appliances, (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 purcha~e, Lender may, at Lendcr's option, declare all the sums securcd by this Mortgage to be
immediatety due and payable. Lender shall have waived such option to axelerate if, prior to the sale or tranafer, Lender
and the person to.whom the Property is to be sold 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 shatl be at such rate as L.ender ~
shall rcquat. If Lender has waived the option to acceterate provided in this paragraph 17, and if Borrower's soccessor in
interest has executed a written assumption agrcement accepted in writing by L.ender, Lender shall release Borrower from all
obligations under this Mortgage and the Nott. ~
~ If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with '
paragraph 14 hercof. 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. tf Bonower fails to pay such s~~ms prior to the expiration of such period, >
~ Lender may, without further notice or demand on Borrower, invoke any remodies permitted by paragraph 18 hereof. ~
~ NoN-UrnFOaM CoveKetvrs. Borrower and L'ender further covenant and agrce as foUowa:
~ I8. Acceleratbn; Remedies. Facept as prorided ie para`rap6 17 hereof, opon Oorrowe~s bresc6 of aoy rn~eaant or
~ aBreewent oi Sorruwer i~ trb Morisa;e. iacl~u~ tbe co~eosMs to pq whe~ dae wy mms sccared by t~b Mort~~e, Leoder '
prior to acederstb~ d~ mail aotke b ~orrower as pro~ided io para~raph 1~ 6ereof specjtl~: (1) t6e breacd: (Z) t6e actba '
~ reqoired b crre ~cY bnac6: s dde. oot kn t6an 30 days trom tbe date tbe eotke is a~aped to Dorrower. b~r w6kti soc6
} breac6 mart be csred; add (4) t~aR fa~re to care sech bresc6 on or bdore tbe date ~pecl6ed i~ tLe ~otke m~ ra~lt ie
accekratloe d t~ w~ iecared by t6is Mort~s~e. foreclowre b7' 1~~ P~4L ~d sale oE tre Prupe~. 'ttie notice ~
~ ~6a11 fartber iaforeo aorrower of tbe rijM to r~~e atta sccdersHo~ aod tbe ~bt b aNert is tre torecioau~e p~ooeedi~ `
tbe noa-exbteoce af a defanlt or any other defen~e of Eorrower to sccde~tioa aed toeeclosore. It the breacM_ is sot c~d ua i!
~ or betors tbe daEe speci8ed i~ t6e aotke, Lender at I.e~der's optbn a~ declare a9 ot tbe saw~s sec~re, bp t6i~ Mo~e fu be ;
~ immedi~tdy dne aaa pyabk withc~N fatber dem~nd aod aay foreelou t6is Mort~a~e by jodicid Pe~aedV[• Le~der iall
~ be ~tltled to coikct b s~cb aY e ssa ot forec{ossre. tncl '
~ P~~K ~ ndint. b~t ~at gmltd to, r~ea~oa6ie attor~e~'s tas,
~
~d co~is ot docan~ewtar~ evidence, abetracb aea tttle reporb. ~
~ 14. Eorrower's Rt~t to Rel~tate. Notwithstanding Lender's acceleration of the aums secured by this Mortgage, !
~ Borroarer:hall 6ave the right to have any proceedings begun by Lender to enforce tha Mortgage discondnued at any 6me
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