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Leader's written agrcement or applicable law. Borrower shall pay the amount ot all mortgage insurance premiums in the
man~e~ provided unde~ parag~aph 2 hercof.
Any amounts disbuned by Lender punuant to this pa~agnph 7, with intertst thercon, shall become additional
inckbtedness of Borrower stcured by this Mortgage. Unless Borrower and Lender agree to other tertns of payment. such
amounts shall be payabk upon ~otice from Lender to Borrower rcquesting payment thereof, and shall bear interest fwm the
date of disbursement at the nte payable from time to time on outstanding principal under the Note unless payment of
interest at such rate would be cont~ary to applicable law, in which event such amou~ta shall bear interest ~t the highest rate ;
pernnissibk under applicabk law. Nothing contai~ed in ~his paragraph 7 shaU require Lende~ to incur any expense or take ~
any action hereunder. €
S. Iaspectioa. Lender may make or cauu to be made rcasonable entries upon and insptctio~s of the Property. pwvided 3
that L_ender shal) give Borrower notice prior to any such inspection specifying rcasonable cause therctar related to Lender's ~
i~terest in the Property. '
9. Condemsatbs. The proceeds of any award or claim for damag~s, direct or consequential, in connectan with any ~
condemnation or other taking of the Property. or pan thereof, o~ for conveya~ce in lieu of condemnation, arc hercby assigned
and shall be paid to Lender.
in the event of a total taking of the Propeny, the proceeds 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 Lende~
o~herwise agree in writing. there shall be applied to the sums securcd 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, wilh the balance of the procceds
paid to Borrower. .
If the Property is abandoned by Borrower, or if. after ootice by Lcnder to Borrower that the condemnor ofters to make
an award ar uttle a claim for damages, Borrower fails to respond to I_ender within 30 days after the datt such notice is
mailed, Lender is authorized to collect a~d apply the proceeds, at Lender's option, either to ratontion or repair of the
Property or to the sums secured by this Mortgage.
Unless Lender and Bormwer otherwise agree in writing, any such application of proceeds to principal shap not extend
or postpone the due date of tht monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments. •
l0. Dorrower Not Rek~ed. Fxtension of tht time for payment or modiflcation of amortization of the sums securcd
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to rekase, in any manner,
the liability of the original Borrower and Bc~rrower's successors in inte~est. Lender shall not be required to commence
proceedings against such succ~ssor or rcfuse to extend time for payment or otherwise modify amortization of the sums
secured by this Morigage by reason of any demand made by the original Borrower and Bonower's successors in interest.
11. i~orbearance by Lender Not s Waive~. Any forbearance by I_ender 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 taxes or other liens or charges by Lender shal) not be a waiver of Lender's
right to accolerate the maturity of the indebtedness ucurcd hy this Mortgage.
12. Remedies Comulathe. All rcmedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortg:.ge or aftorded by law or equity, and may be exercised concurrcntly, independently or successively.
13. Successors and Assi6ns Doand: Joint aed Several T.iability: Captions. The covenants a~d 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 aod agreements of Borrower shall be joint and several.
The captions and headings of the paragraphs of this Mongage are for convenience only and arc not to be used to
interpret or define the provisions hereof.
l4. Notke. Exce~+t for any notice requircd under applicable law to be give~ in another manner, (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail add~essed to Borrower st -
the Property Address or at such other address as Borrower may dtsignate by notice to i_ender as provided herein, and
tb) any notice to Lender shall be given by certified mail, retum rcceipt rcquested. to I.ender
s address stated herein or to
~ such other address as Lender may designate by notice to Borrower as provided herein. Any notece provided for in this
Mortgage shall lx deemed to have been given to Bo~rower or Lender when given in the manner designated herein.
1S. Uniform Mo~tRage; Governin~ I.aw; Severability. This form of mortgage combines uniform covenants for national
; use and non-uniform covenants with limited variations hp jurisdiction to constitute a uniform security instrument covering
E real property_ 'i?~is Mortgage shall be governed by the law• of the jurisdiction in which the Property is located. 1n the
! event that any provision or claux of this Mortgage or the Note conflicts with applicabk law. such conflict shall not affect
! other provisions of this Mortgage or ihe Note which can be given effect without the conflicting provision, and to this
j end the provisions of the Mortgage and the Note are declared to be severable.
! 16. dorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
i of ezecution or after rccordation hereof.
~ 17. Tnnsfer of t6e Property: Assumption. If all or an~• part of the Property or an interest therein is sold or transferred
! by Borrower without Lender's prior written consen~, eicluding (al the creation of a lien or encumbrance subordinate tn
~ this Mortgage. (b) the creation of a purchase money securi~y interest for household appliances, (c) a transfer by devise,
~ descent or by operation of law upon the death af a joint tenant or (d? the grant of any leasehold interest of three years or less
: not containing an option Io purchast, Lend~r may, at [.ender't option, declare all the surr?s secured by this Mortgage to be
t immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
~ and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
~ is satisfactory to Lender and that the interest payable on the sums secured by this 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 succuwr in
e mterest hac executed a written assumption agreement accepted in writing by I.ender. [.ender shall release Borrower trom all
~ obligations under this Mortgage and the Note_
~ if Le~ider exercises such option to accelerate. 1_ender ~hall mail Borrow•er notice of acceleration in accordance with
~ paragraph 14 hereof. Such notice shall provide a perioei of not less than 30 da~~s from the date the notice is mailed within
~ which Borrower may pap the sums declared due. If Borrower fails to pay such sums prior to ihe expiration of such period.
` Lender may, withaut further notice or demand on Bcirrower. invoke an}• remedies permitted by paragraph 1R hereof.
~
~ NoN-UNtFORtit Covetv,?NTS. Borrower and Lender funher covenant and agree as [ollows:
~ 18. AcceleMion; Remedks. E:cept as provided fa para~raph 17 hereof. upon Eorrowers brcach of any corenast or
~ a`~eemeat of Borrower In tbfs Mort~s~,e. including tbe covenants to pay r?hen due any sums secnred by thts Morqa~t, Lender
~ prbr to accekntion shall mail aotice to Borrower as provided in paragraph 14 hereof specifyin`: (1) t6e brescb; (2) the actbn
~ nquired to cure soch brescb; (3) a date. not les than 30 days from the dste tl~e notice b mailed to Eorrower, by whk6 wci~
~ breac6 mmt 6e cored: ~od (4) that taUure to cure wch breach on or before the dste specified io the .otke mq radt in
~ accekntbn of the sums secnred by thLs Mortgaae. foreclosun by judicial proceedi~ a4d sde ot tbe Property. 'ILe notke
~ shaU further iaform Borror~er of the right to rei~tate after acceleration and t6e right to asiert ia the toreclosurs pnneeedf~
~ t6e eoa-exWence ot s defaok or aay otber detense of Borrower to accekratioa and torecbwre. It tl~e bresch b oot cartd oe
~ or bttore the date speci6ed in t6e ooticr~ Lender at Lender's option rnsy declsre all ot the soms secared by tl~s Mort~a~e b be
immedlstdy due and paysbk wit6out further demand aad may foreclose t6ts hfort`a`e by judkW proccedis~. I.eoder sbaY
~ be cotided to collect is soc6 praceeding aq e:peoses of forecbsnre~ iacludfni. bnt not Uiaited to, reawaable attor'e~'a fees~
~ snd cosb ot docamentary erideoce, sbstracts and tide reporb.
19. dorrower's Rl~bf to Rcimtate. Notwithstanding Lender's acceleration of the sums securcd by this Mortgage,
~ Borrower shall have the right to have any procecdings begun by Lender to enforce this Mortgage discontinued at any time
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