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Lender's written agreement a applicable law. Borrower ahali pay the amount of all mortgage insurance prerrtiurrz: in the
manner provided under paragraph 2 hereof.
Any amounts disMtrsed by Lender pursuant to tha paragraph 7.. with interest thereon, shall become additional
indebtedness o[ Borrower secured by this Mortgage. Unless Bortower and Lender ague to other terms of payment, such
amounts shall be payable upon notice fmm lender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payahk from time to time on ot+tstanding principal under the Note unless payment of
interest at such rate 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. leapec8oe. 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 such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Coedemtnatbs. 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 therrnf, or for a~nveyance in lieu of condemnation, are hereby assigned
and shall be paid to Lender. `
1n the event of a total taking of the Property. the prcxeeds chap he 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 ahandoned by Borsower. or if. after notice by lender to Borrower that the condemnor offers to make
'an award or settle a claim for damages. Borrower fail. to respond to i.ender 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 otherwiseagree in wrihne, any such application of proceeds to principal shall not extend
or postpone the due dale of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall pot operate to release, in :ny manner,
the liability of the original Borrower and Borrower's successors in interest. i.ender shall not be required to crxnrrw~nre
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of thr wms
secured by this Mortgage by reason of an}• demand made by the original Borrower and Borrowers successors in irnered.
11. Forbearance by Lender Not a Wainer, Any fonc~arancc M• 1 ruder in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall not he 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 h}• lender shall not he a waiver of Louder s
right to accelerate the maturity of the indehtednea secured by this Mortgage.
12. Remedies 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 rosy. be exercised concurrently. independently or successively.
13. Sttecessors and AssiRes Bound: ~loinl and Several Liability; faptions. 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 rnvenants and agreements of Borrower shall he joirv and several.
The captions and headings of the paragraphs of Chic Mortgage arc for rnnvenience only and are .not to he aced to
interpret or define the provisions hercc?f.
14. Notice. Except for any notice required under applicable law. to be given in another manner, fa) any notice to
Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such ether address as Borrower mav_ designate by notice to i ender as provided herein. and
(h) any notice to Lender shall he given by certified mail. return receipt requested. to lenders address stated herein or to
such other address as Lender may designate M• notice to Borrower as prosided herein. Any notice provided for in this
Mortgage shall t+c deemed to have lxcn given to Borrower or lender when given in the manner designated herein.
15. Uniform Mortgage: Governint; i.aw: Severahilit}•. This form of mortgage combines uniform covenants for national
i .
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covenng
real property. This Mortgage shall be governed h~• the law. of li+e 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
E other provisions of this Mortgage or the Notc which can he given etTect without the conflicting provision, and to this
end the provisions of the Mortgage and the ~totc arc declared to he severable.
16. Borrower's Copy. Borrower shall he furni,hed a conformed cops of the Note and of this Mortgage at the time
of execution or after recordation hereof.
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 camera. ctcluding (a1 the creation of a lien or encumbrance suhordinate to
€ this Mortgage. Ib) the creation of a punha,c mono security interest for household appliances, (cl a transfer M• 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 purchase. Lender may, at Lender's option. declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have w:uvcd such option tc• accelerate if. prior to the sale or transfer. Lender
Y and the person to whom the Property i, to tx ol.l or tr:+nsfermd reach agreement in writing that the credit +~f ,uch person
is satisfactory to Lender and that the interr,t pa}•ahle on the sums secured by this Mortgage shall be at such rate as I.cnder
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 fmm all
obligations under this Mortgage and the Note.
' if Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accord:+ncc nth
paragraph 14 hereof. 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. if Borrower fails to pay such toms prior to the expiration of such pen~ul.
Lender may, without further notice or demand on Borrower. im•oke any- remedies permitted by paragraph IR hereof.
r Notv-UNIFORM CoveN~Nrs. Borrower and lender further covenant and agree as follows:
lg. AccekrNioe; Remedies. Except >s provided in paragrapb 17 hereof, upon Borrower's breach of any corcnamt or
agreement of Borrower in this Mortgage. including the covenants to pay when due any sums stcnred by this Mortgage. Lender
prior to sccekratbn shah mail notke to Borrower as provided in paragraph 14 hereof specifying: (1) the breach: t2/ the action
required to core tttacb breach; (3) a date. not less than 30 days from the date Ibe notice is mailed to Borrower. by which such
breach must be cored; sad (4) that failure to cure such breacb on or before the date specHied in the notice may result in
acceleration of the sums secured by this Mortgage. toreclosure by judicial proceedir~ and sale of the Property. The notice
shaiV farther inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding Z
the non-a:istence of a default or any other defense of Borrower to acceleration and foreclosure. ff the breach is not enr~ed on
or before the date specified ie the notice. lender at Lender's option may declare all of the sofas secared by this Mortgs4e to be
immediatdy due and payable without further demand and may foreclose this Mortgage by judicial proceedintt. Lender shall
be entitled to coUcet iA sash proceeding all expenses of foreclosure, includi~. but sot Umited to, reasonable atturn+•-r's fees.
wed costs of duct:gtentary evidence, abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstand+ng Lender's acceleration of the sums secured by thi• Mortgage.
x Borrower shall have the right to have any proceeding, he fun ~.y Lender to enforce this Mortgage discontinued at an}• time
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