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Lender's written agnemcnt or applicabk law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to tha paragraph 7, arith interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borruwcr and 1_ender agree to other terms of payment. such
amatnts shall he payable upon notK-e from Lender to Borrower requesting payment thereof, and shall hear interest from the
date of disbttrsernent at the rate payable from time to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary to applicabk law, in which event such amounts shall hear interest at the highest rate .
permissible under applicabk law. Nothing contained in this paragraph 7 shall require lender to incur any expense or take
any action hereunder. ,
8. laspt'ctbw. Lender may make or cause to he made rcasortabk 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. Condemnation. The proceeds of any award or claim for damages, dirtet or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, arc hereby assigned
and shall he paid to Lender.
In the event of a total taking of the Property, the proceeds shall 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 he 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 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. tt. respond to Lender within i0 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at l.ender'c option: either to restoration or repair of the
Property or to the sums secured by this Mortgage
Unless Lender and Borrower Mherw•ise agree in writing. am• such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
such installments.
10. 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 successor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Bormwer and Borrower's successors in interest. lender shall not he required to commence
proceedings against'such successor or refuse to emend time for payment or otherwise modify amortization of the sums
ucured by this Mortgage by reason of am demand made by the orieinal Born.wer and Borrowers successors in interest.
11. Forbearance 6y Lender Nof a Waiver. Any fonc~arance by Lender in exercising am• 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 taxes or other liens ur charges h}• Lender shall not he a waiver of Lender s
right to accelerate the maturity of the indebtedness secured M• this Mortgage.
12. Remedies Cumulative. Ail remedies provided in this Aortgage arc distinct and cumulative to an}• other right or
remedy under this Mortgage or afforded by law or eyuity. and may he exercised concurrently. independently or successively.
' 13. Successors and Assigns Bound: ,loint ano Several liability; Captions. The covenants and agreements herein
contained shall bind, and the rights hereon •shall ;ears to, the respective successors and assigns of Lender attd Borrower.
subject to the provisions of paragraph 17_ r f. Ali covenants and agreements of Borrower shall he join] and several.
The captions and headings of the par~ra s of this Mortgage are for convenience only and are not to he aced to
interpret or define the provisions hereof.
14. Notice. Except for any notice rryuired tinder applicable law to he given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Bormwer at
the Property Address or at such other address ac Rcar~~wer mav_ Designate by notice t.. fender as provided herein, and
(h) any notice to Lender shall he given by certified maul. return receipt requested. to f enders address stated herein or to
such other address as fender may designate by nMicc to Bormwer as provided herein. Any notice provided for in this
Mortgage shall he deemed to have t+cen given to Borrower or l.cnder when given in the manner designated herein. `
15. Uniform Mortgage: Governing Law; Severabilit}•. This form of mortgage rnmbines uniform covenants for national
use anD nun-uniform covenants with limiteD variations h. juriuliction to constitute a uniform security instrument covering
real property. This Mortgage shall he governed he the law of the jurisdiction in which the Property is located. In the
j event that any provision or clause of this Mortgage or the \t•te rnnflictc with applicable law•, such conflict shall nut affect
other provisions of this Mortgage or the Notr which can he given effect witho?a the conflicting provision, and to this
end the provisions of the Mortgage and the ~Iutc arc ~Ieclared to he severable.
~ 16. Borrower's Copy. Borrower shall I?e furnished a Conformed cop; of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. Transfer of the Property: Aswmption. If all or am part of the Pmpem• or an interest therein is sold or uanderred
by Borrower without Lender's prior wrincn c~rnsent. excluding fat the creation of a Lien or encumbrance subordinate to
a this Mortgage. (h) the creatron of a purchase mrnev security interest for household appliances, (c) a transfer by devise.
dexent or h}• operation of law upon the death of a j~rinr tenant or Idi the grant of any leasehold interest of three }cars or less
nut containing an option to purchase. 1-ender mac.:~i I tinder's option. declare all the sums secured M• this '.1ortgage to he
immediately due and pa}•ahie. Lender shall have w:uved such option to accelerate if. prior to the sale or transfer. Lender
and the person to whom the Property i. to I+e ,oi.l or transferred reach agreement in writing that the credit of such person
is satisfacton• to Lender and that the interest payable on the sums scored by this Mortgage shall be at such rate as Lender
i shall request. if Lender has waived the option to accelerate pmvideD 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 Borruwcr from all
I obligations under this Mortgage and the Note.
If Lender exercises such option in accelerate. 1 ender shall mail Borrower notice of acceleration in accordance •.+ith
~ paragraph 14 hereof. Such notice shall provide a pericxl of not lest than z0 days from the date the notice is mailed within
) which Bormwer may pay the Sums declareD due. If Borrower fails to pay such sums prior to the expiration of such penrxl.
Lender may, without further notice or demand on Borrower. im•oke an} remedies permitted by paragraph 1 R hereof.
Norv-Urvtt=oent CovervxNTS. Borrower and Lender further rnvenant and agree as follows:
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~ 18. Acceleration; Remedies. Except as prosided in paragraph 17 hereof. upon Borrower's bresch of any covenant or
agreement of Borrower in this Mortgage. including the covenants to pay when due any sums secured by this Mortgage. Lender
prior fo accekntion shall mail notice to Borrower as provided is paragraph 14 hereof specifying: (1) the breach; 121 the action
? «quind to cure wch beach; (3) a date. not ks than 30 days from the dale the notice is mailed to Borrower. by which such
_ breach must be cured; and (4) that failure to cure wch breach on or before the date specified in the notice may result in
acceleration of the wins secured by this M1lortgsge. foreclosure by judicisl proceeding and sale of the Property. The notice
shall further inform Bormwer of the right to reinstate after acceleration and the right to assert in the torecbsure proceeding
_ the non-existence of a default or any other defense of Borrower to acceleration and forecbsure. If the breach is not cured on
or before the date specified in the notice, Lender at Lender's option may declare aq of the wins secured by this Mortgsre to be
immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. i.ender shall ~
be entitled to collect in such proceeding ail expenses of foreclosure. including. but ttnot limited to. reasonable atturne:'s fees, ~
and costs of ~wc~rnentary evidence. abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstand~ntt Lender's acceleratton of the sums secured by th~• Mortgage,
Borrower shall have the right to have an} proceedings heEun w Lender to enforce this Moriga¢e disconhnueD .rt an} time ,
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