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Lender's written agreement or applicabtc law. Borrower shall pay the amaunt of all mongage insurance premiums in the
manner provided under paragraph 2 heroof.
Any amounts d'isbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtednus of Borrower securcd by this Mortgage. Unless Borrower and I_ender agree to othe~ terms of payment. such
amouMs shall be payabic upo~ notice from Le~der to Borrower rcquesting payment thereof, and shall bear interest from the
date of disbursement at the rate;payp~ ftom time to time on outstanding principal under the Note unless payment of
interest at such rate would be contnry td applicable law, in which event such amounts shall bear interest at the highest rate
permiuible u~der applicable law. Nothing contained in this paragraph 7 shall rcquioe Lender to incur any expense or take
any action hercunder.
8. Inspecfioa. Lender may make or cauu to be made reasonable entriec upon and inspections of the Property, provided
that Le~der shall give Borrowe~ notice prior to any such inspection specifying rcasanable cauu therefor ~related to I.ender's
intertst in the Property.
9. CoademnaHoa. The proceeds of any awacd or claim for damaga, dircet or conuquential, i~ connection with any
condemnation or other taking of the Property, or part thereof, or for convtyana in lieu of condemnation, ara her~by assig~ed
and shall be paid to Lender.
Tn the event of a total taking of the Property, the proceeds shall b~ applied to the sums sccured by this Mortgage,
with the excess, if any, paid to BorroM•er. in the eveot of a partial taking of the Property, unless Bomower 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 proportioa 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 abandoncd by Borrower, or if, after notice by Lender to Bonower that the condemnor otfiets to make
an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
mailcd, Lender is suthorized to collect and apply the proceeds, at I_ender's option, eithtr to restoration or repair of the
Property or to the sums secured by this MortRage.
Unless Lender and Borrower otherwise agree in writing, any such applicati~n of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Bormwer Not Reltased. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any successor in inter~st of Borrowcr shall not operate to release, in any manner,
the liability of the original Borrower and Borrower s successors in interest. Lender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the oriRinal Borrower and Borrower s successors in interest.
11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hercunder, or
othenvise afiorded by applicable law, shall not be a waiver of or preclude ths exercise of any such right or remedy.
The prceurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender s
right to accelerate the maturity of-the indebtedness secured hy this Mortgage. .
12. Remedies Cnmulsthe. 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 exercised concurrently. independently or successively.
l3. Succeswrs and Assigm Bound: Joiat AOd SlYtf~ T.~~~; Captbns. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to, the respective successors and assig~s of Lender and Borrower,
subject to the provisions of paragrapfi 17 hereof. All covenants and agreements of Borrower shall be joint and several.
Tl~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.
l4. Notice. Except 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 addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to T.ender as provided herein, and
(b) any notice to Lender shall be given by certified mail, return receipt requested. to i.ender s address stated herein or to
! such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
l5. Uniform Mortga~e: GoverninR Taw: SereroWlity. This form of mortgage combines uniform covenants for national
~ use and non-uniform covenantc with limited variations by ju~isdiction to constitute a uniform security instrument covering
; real property. This Mortgage shall be governed hy the la~r of the jurisdiction in which the Property is located. In the
s event that any provision or claose of this Mortgage or the Note conflicts w•ith applicable law, such conflict shall not affeM
~ other provisions of this Mortgage or the Note which can be given effect without the conf!icting provision, and to this
s end the provisions of the Mortgage and the Note are declared to be severable.
{ 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
` of execution or afrer recordation hereof.
` 17. Tnnsfer of the Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred
~ by Borroveer without Lender'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 purchase. Lender may, at Lender'c option, declare all the sums secured by this Mortgage to be
€ immediately due and payable. Lender shall have waived sach option to accelerate if, prior to the sale or transfer, L.ender
~ and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
s is satisfactory to Lender and that the interest payable on the sums secured by thic Mortgage shall be at such rate as Lender
~ shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
° interest has ezecuted a written auumption agreement accepted in writing by I.ender, Lender shall release Borrower from all
~ obligations under this Mortgage and the Note.
~ if I_ender exercises such option to accelerate, [.ender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shatl provide a period of not less than 30 days trom tlie date the notice is mailed within
3 which Borrower may pay the sums declared due. If Borrower fails ro pay such sumc prior to the expiration of such period,
- Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
~ NoN-UN~FORnt CovErrerrrs. Borrower and Lender further covenant and agree as follows:
~ 18. Accekntba; Remedks. Except as provided in par~raph 17 hereof. upon Borrower's breac~ of any co~eoaat or
agreemeot of Borrower in tbts Mortgage, including the co~enants to pay when due any sums secored by thb Mo~a~e, I.ender
i prior to ucekntbo s6aq maU aotice to Borrower ~s provided In paragraph 14 hercof spccifying: p) the breach; (2) t6e actbn
required to cnre socb breach; (3) a date, not less thsn 30 d~ys from the d~e tl~e eoNce M mailed to Borrower, by whk6 sac6
~ breach mnst be cared; and (4) that failure to cnre snch breach oa or 6efore the date spec~ed ie the ootice ~nay radt ia
! accekratfon of tbe sams iecnnd by thb Mortgage, foreclosurc by judkial proceediag aad sak of t6e Property. 'ibe aotk~
s6s0 furtber iatorm Borrower of t6e right to reiostste after scceleratioa and t6e right to ~sert ia the foreclosnre proceedios
t6e non-e:i~tence of s defank or any dher defense of Borrower to accekration and foreclosure. lf t6e breac6 i~ oot cared o0
or before the dah sperified in the notke, Lender at LeodePs optbn may declare all of the sams secnred by this Mortp~e b be
; immediatdy due aod payabk wit6oat furt6er demand and msy foreclose thB Mort`aee by Judkid proeeedlu~. Lsnder shan
N be entitled to coUcct in suc6 proceedia~ all e:pensa of forecbwrc, including. but oot limited to, reawaabk ~ttoree~'s Eea,
~ snd costs of docnmentary evidence. a6shscts and titk reporb.
d 19. 8orrower's Rig6t to Reinstste. Notwithstanding Lender's acceleration of the sums securcd by this Mortgage,
x Borrrnver shall have the right to have any proccedings hegun by Lender to enforce this Mortgage discontinued at any time
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