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I.enJer's written agreement or applirable law•. Borrower shall pay the amount of afl~ mortg~age insuranx p~e~hiums in the ~
ma~~er provided under parag~aph 2 hereof. .
Any amounts disbuned by I.ender punuant to Ihis paragraph 7, with interest thereon, shall become additianal
indeb~edness of Borrow•er secured by ~his Mortgagc. Unlc~.t Borrower and l.en~er agrcc to other terms of payment, such
amounts shall be payable upan noticc from l.ender to Borrow•cr reyuesting paymcnt thereof, and xhall bear interest from the
date af disbursement at thc rate payable f~am time to time on outstanding principal under thc Note unless payment of
interest at such rate wauld be contrar~ to applicable law, in w~hich event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing cantained in this paragraph 7 shall require I.ender to i~cur a~y expenu or take
any action hereunder.
8. Iacpeetioa. Lender may make or cause to be made reasonahle entriec upon and inspections of the Property, provided
that t_ender shall give Borrower notice prior to any such inspection specifying rcasanable cause therefor related to I_ender's
interest in the Property.
9. Coademnafion. The prc~ceeds of any aN•ard or claim for damages, direct or cansequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of candemnatian, are hereby assigned
and shall be paid to I.ender.
in the event of a total taking of thc Pmpcrty, thc proceeds shall bc applicd t~ the sums securcd by this Mortgage.
with the excess, if any, paid to Borrow~cr. in the evcnt nf a partial taking of the Pmperty, unless Bormwer and Lender ~
atherwice agree in writing, there shall be applied to the cums secured hy thi~ Mortgage such propohion of the proceeds ~
as is equal to that proportion which the amount of the sumc secured by this Mortgage immediately prior to the date of
taking bears to the fair market ~alue of the Property immediately prior to the date of taking, wilh Ihe balance of the proceeds ~
paid to Borrower.
If the Property is abandoned by BorroWer. ~r if. after notice by I.ender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower fails ta respond to I.ender within 30 days after the date such notice is {
mailed. Lender is authorized to collect a~d apply the proceeds, at I_ender's option, either to restoration or repair of the
Propeny or to 1he sums secured b~~ this Mortgage.
Unless l.ender and Borrow~er otherw•ise agree in writing. an~• such applicatinn of proceedc to principal shal) no! extend
or postpone the due date of thc monthl~• installmcnts refcrrcd to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. E?ctension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by I_enJer to any cuccessor in interest af Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrower s sucreszora in interest. i_ender shall not he required to commence
proceedings against such successor -or refuse to extend time for payment or otherw~ise modify amortization of the sums
secured by thic 1Nortgage by reason of an~~ demand made b~~ the orieinal Borrower and ~orrower s siiccescorc in interest.
11. Forbearanct by Ixnder l~iof a Wai~•er. Am~ forbearancc h~• 1_cndcr in exercising any right or remedy hcreunder, or
othenvise afforded by applicable law, shall noi be a waiver of or preclude the eYercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by i.ender shall not be a w~aiver of Lender s
right to aceelerate Ihe maturity of the indebtedness secured h}• thic Mortgage.
12. Remedies Cnmulative. All remedies provided in this Mc?rt¢age are distinct and camulative to any othe~ right or
remed~~ under this Mortgage or afforded by law ar equity. and ma}• he e~ercised concurremly, independen0y or successively.
13. Successors and Assigns Bound; Joint and Se~eral i.iability; Captlons. The covenants and agrcements herein
contained shall bind, and the rights hereunder shall inure to, the respective succecsars and assigns of Lender and Bormwer.
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 paragraph~ of this Mortgage are for convenience only and are not to he useci to
interpret or define the provisions hereof.
ld. Notice. Except for any notice required ander applicable laa to be given in another manner. (a) any notice to .
Borrower provided for in this Mortgage shall he given b~• mailing such notice by certified mail addressed to Borrow~er at ~
the Property Address or at such other addres.a as Borrow~er ma}• designate by notice to I.ender as provided herein, and
(b) any notice ro Lender shall be given by certified mail, retum reccipt requested. to l.ender s address stated herein or to ~
such other address as I.ender may designate b}~ notice to Barmw~er as pro~•ided herein. Any notice provided for in this
Mortgage shall be deemed to have been givcn to Borrou~cr or 1_cnder ~~hen given in thc manner designated herein.
15. Uniform Morl~age; GoverninR Law; Se~~erability. This form of mongage combines iiniform covenants for national
use and nc?re-uniform cavenants with limited variations b~• jurisdiction to constitute a uniform security instrument covering
real property. "I~is Mortgage shall be go~•e~ned hy the law of the jurisdiction in which the Property is located. In the ~
i event that any provision or clause of this Mortgage or the :~o~e conflicts w•ith applicable law, such conflict shall not afiect ~
~ other provisions of this Mortgage or the Note w•hich can tx: given efTect without the conflicting provision, and to this
end the provisions of Ihe Mortgage and the Notc are Jeclared to he severable.
l6. Borrowe~s Copy. Borrower shall be furnished a rnnformed copy of the Notc and of this Mortgagc at the tirqe
I of execution or after recordation hereof. ~
~ 17. Transfer of the Properfy: Assumption. If all or am• part of thc Pmperty or an interest thercin is sold or transferrcd ¢
by Borrower without Lender's prior writtcn consent. excluding (al the creation of a lien or encumbrance subordinate to
~ this Mortgage. (b) the creation of a purchase money securih• interest for household appliances, (c) a transfer by devise.
~ descent or by operation of law upon the death of a joint tenant or (~U the grant of anV leasehold interest of three y~ears or less
~ not containing an option to purchase, I_ender may, at Lender'c option. declare all the sums secured hy this Mortgage to be
~ immediately due and payable. Lender shall have ~~ai~~ed such option to accelerate if, prior to the sale or transfer. I_ender
> and the person to whom the Property is to be solJ or transferred reach agreement in w~riting that the credit of such pers~n
; is satisfacton• to 1_enJer and that the intercst pa~~able on the cums secured b}' this Mortgage shall be at such rate as Lender
` shall request_ If I_ender has wai~~ed the option to accelerc~te provided in this paragraph 17, and if Borrower's successor in
t
~ interest has executed a written assumption agreement accepted in w~riting by Lender, I_ende~ shall release Borrower from all ;
s obligations under this Mortgage and the Note.
~ If Lender exercises such option b accelera~e. 1_ender ~hall mail Borrow•er notice of acceleration in accordance with
' paragraph 14 hereof. Such notice shall provide a perioci of not Iess than 30 da)~s from the date the notice is mailed within
r which Borrower may pay the sums declared due. If Borro~crr fails !c• pa~~ such sums prior to the expiration of such pericxl.
~ I.ender may. w•ithout further notice or demand on Bormwcr. im~oke am~ remedies permitted by paragraph 1 R hereof.
~ Nox-UNiFOx~?t Covetv~tvTS. Borrower and Lender further covenant and agree as follows: ~
~ 18. Accelentioa; Remedies. Except as provided in par~raph 17 hereof. upon Borrower's breach of any covenant or !
~reement of Borrower in thi5 Mortgage, including the covenants to pay when due any sums secured by this Mortgage, Ixnder '
3 prior lo acceieration s6a11 mail notice to Bormwer as provided in paragraph 14 hereof specifyiRg: (1) the brcach; (2) t6e action
required to cure snch breacb; (3) a dnte, nof less than 30 days from Ihe date the notice is mailed to Borrower, by whkh such t~
breach mast be cnred; aad (4) that failure to cure such breach on or beforc the date specified in the notice may resWt in -
scceleration of the sams secnred by th~s Mortgage. forcclosure by judicial proceeding and sale of the Property. 17~e aotice ~
shall further inform Borrower of the right to reinstate after acceleration and the right to ascert in Ihe foreclosure procceding
a the non-existence of a defauk or any other defense of Borrower to acceleration and foreclosure. if t6e breacb LS oot cured on .
s or before the dnte specified In the notke. Lender at Leoder's option may declare all of the sums secured by this Mortgage to be
~ immediately due and payable without further demand and m~y foreclose this Mortgage by judicial proceeding. Lender shall
~ be eatided to collect ln sucb proceeding all e:penses of foreclosure, including. but not limifed fo, reasonable attorney's fees,
~ and costs o[ documentary evidence, abstmcts 9nd titk reports.
~ 19. Borrower's Right to Re[nstste. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
Borrower shall have the right to have an~~ proceedings hegun by l.ender to eofarce this Mortgage discontinued at any time .
°~c~ox 3C17 Qac~ 941 7
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