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Lender's written agreement or applicabk law. Borrower shah pay the amount of all mortgage insurance premium: in the
manner provided under paragraph 2 heroof.
Any amounts disbursed by !.ender pursuant to this paragraph 7, with interest thereon, 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 no rte from I.endcr to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under the Note unless paytaent of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the hi8hest me
permissible under applicabk law. Nothing contained in this paragraph 7 shall require i.ender to incur any expense or take
any action hercunckr.
fl. laspectioa. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
that Lender shall give Borrower notice prior to any xuch inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9, Corrdemrwtbn. 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 iherrnf, or for conveyance in lieu of condemnation, arc hereby assigned
and stall be paid to lender.
1n the event of a total taking of the Pmpeny. the prcx:ecds 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 toms 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 Borower, or if. after notice by Lender to Borrower that the condemnor offers to make
an award or settle a claim for damaGcs, Borrower fail. to respond M lender within 30 days after the date such notice is
rea+kd•I,ertder is aerthnrized'tci rcillecfrand apply the proceeds, at Lender's option, either to restoration or repair of the
. Property or to the sums secu~~red~~' ~~b~~~ thi4 Mortgaee.
Uplest I.endh and 13orrdwer'bthe isc agree in writ,ne. an}• such application of proceeds to principal shall not extend
or postpone the dUe date iti''tli~+•~nt • installments referred to in paragraphs 1 and 2 hereof or change the amount of
~ such installments.' <-~"l~<bE E
1®• ncion of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any cuccecsor in interest of Borrower shall not operate to release. in any manner,
the liability of the original Borrower and Borrower's successors in interest. i_ender shall not be required to commence
proceedings against such successor or refute to extend time for payment or otherv?•ice modify amortization of the s,~ms
secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in imerect.
il. Forbearance by 1[.ender Nof a Waiver. An}• forhearancc by Lender 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 remedy.
The procurement of insurance or the payment of tares or other liens or charges by i.cnder shall not be a waiver of Lender s
right to accelerate the maturity of the indebtedness secured h}• chic Mortgage.
12. Remedks Cumulative. All remedies 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 suc~_essively.
13. Successors and Assigns Bound; .]oint and Sereral i.iability; Captions. 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 the provisions 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 arc for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to
Borrower provided for in this Mortgaee shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower max' designate by notice to fender as provided herein, and
(b) any notice to Lender shall he gi~•en by certified mail. return receipt requested. to [.ender c address stated herein or to
such other address as Lender may designate by notice to Bormw•er as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been giscn to Borrower or Lender when given in the manner designated herein.
1S. Uniform Mortgage; Covernin~ Iaw~; Severabilif}•. This form of mortgage combines uniform covenants for national
use and non-uniform rnvenanic with limited variations h.• jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed h~• the law of the jurisdiction in which ihz Property is located. In the
event that any provision or clause of this Mortg:ee or the 1\ote rnnflicts with applicable law. such conflict shall not affect
other provisions of This Mortgage or the Nute which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Vote arc declared to he scverable_
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. Transfer of the Property: Assumption. If all ,•r an}• part of the Pn~perty or an interest therein is sold or transferred
~ by Borrower without Lender's prior wriurn runsent_ excluding (al the creation of a lien or encumbrance subordinate to
r this Mortgage. (hl the creation of a purchase mone~• securin- interest for household appliances, (cl a transfer h}• devise.
descent or by operation of law upon the death of a jonrt tenant or fdt the grant of am• leasehold interest of three years or lees
t not containing an option to purchase. Lender ma}•.:,t Lender's option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall hale wa,s~ed such option to accelerate if. prior to the sale or transfer, Lender
and the person to whom the Property is a, be .ol.l ar transferred reach agreement in writing that the credit of such person
~ is satisfactory to Lender and that the interest pa}'able on the sums secured by this Mortgage shall be at such rate ac Lender
shall request. if Lender 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.
If [_ender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance ith
paragraph 14 hereof. Such notice shall provide a period of not lest 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 prier 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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Note-Utvrr=oar~t Covt=_rrerr•rs. Borrower and lender further covenant and agree as follows:
t l8. Acceleration; Remedies. Except >s provided in paragraph 17 hereof. upon Eorrower's breach of any coverwtt or
agreement of Borrower in tbis Mortgage, including the covenants to pay when due any sums secwred by this Mortgsge, Lender
prior to sccekntbn sball mail notke to Eorrower as provided in paragrapb 14 hereof specifying: (1) the breach; (21 the adroa
required to cure such breacb; (3) a dste. not less than 30 days from the date the notice is mailed to Qorrower. by which such
breach most be cared; and (4) that failure to cure such breach on or before the date specified in the notice may result is
sccekratbn of the sua~ secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform aorrower of the right to reinstate after acceleration and the right fo assert in the foreclosure proceedbrg
tbt non-esasterrce of a defauN or any Mher defense of Borrower to acceleration and foreclosnrt. If the breach is twt cored oa
or before the date specified is the notice. lender at Lender's option may declare aB of the snms secured by this Mortgage to be
immediately due and paysbk without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall
be eotitkd to collect in snob proceeding all a:peaces „f ioreclosure, including. but sot limited to. reasonable att~,rnr;'s fees.
and costs of wrc.:~aeatary evidence. abstracts and title reports.
s 19. isorrowa's Right to Renstate. Notwithstanding tenders acceleration of the sums secured by the M.~rtgage,
Borrower shall have the right to have any proceedings hegun by (.ender to enforce this Mortgage discontinued .tt any time
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