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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums is the j
manner providecj under paragraph 2 heefof.
Any amounts disbttrsetl by Lender purswnt to the paragraph 7, with interest thereon. shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of paytnettt, such
amounts shall be payable upon notice from i.ender to Borrower requesting payment thereof, and shall bear interest ft+om the
date of dtsbursentent at the rate payable from time to time on outstanding principt:I utttler the Note unless pe~rmatt oti
interest at such rate would be contrary to applicable law, in which event such ammounts shall bear interest at the hightat race
permisst'bk under applicable law. Nothing contained in this paragraph 7 shalt require Lender to incur gay expense a fate
any action Itercuttder.
tasrcctioa. Lender may make or cause to be made reasonable entries upon and inspections of the Property,
that Lender shall give Borrower notice prier to any such inspection specifying rcasottabk cause therefor related to I.ptder's
interest in the Property.
9. Cottdetttnatbtt. The proceeds of any award or claim for damages, direct or rnrtsequential, in connection with gay
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby ataigoed
and :hall be paid to Lender.
-in the event of a to1a1 taking of the Property, the proceeds shall be applied to the sums secured by this Mottpge,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Leader
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 bean to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds i
paid to Borrower.
If the Property is abandoned by $or;ewer, or if. after notice by Lender to Borrower that the oondemttor otters to make j
an award cx xttk a claim for damages, Borrower fails to respond to Lender within 30 days after the daft such notice is
mailed, Lender is authorized to correct and apply the proceeds, at Lender's option, either to ratoration or repair of the
Property or to the sums secured by this Mortgage. ~
Unkss-Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shag not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 het+eof or change the amount o[
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 not operate to rcksse, in any manner,
the liability of the original Borrower and Borrower
s successors in interest. Lender shall not be r+oquirrd to commence "
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the :urns
• secured by this Mortgage by reason of arty demand made by the original Borrower and Borrower's successors in interest. f
11. Fosrearatset rT Leader Not a Waiver. Any forbearance by Lender in exercising any right or remedy heretmder, or
otherwise afforded by applicable law, shag not be a waiver of or preclude the exercise of any -such right or tamely.
The procttrcrltent of iruurattce or the payment of taxes or other liens or charges by Lender shall not be a waiver of Leader's
right to accelerate the maturity of the indebtedness secured 6y this Mortgage.
12. Rewedies Ctatttthtp~e. Alt 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. •
13. Seccessors and AsttiRns lsottttd:.><oirtt cad Several t.iebNify; Captkns. The covenants and agreements herein
contained shall bind, and the rights htreunder shall inure; to. the respective successors and assigns of Lender sad Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jolty and several.
The captions' and headings of the paragraphs of this Mortgage arc for convenience only and are not to be used io
interpret or define the provisions hereof.
1~. Notice. Except for any notice required under applicable law to be given in another manner, (a) :ray notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certifed mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Tender as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to Lender's address stated herein or to
such other address as Lender may designate by notice to Borrower ss 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.
iS. Utsitorse Mortgage: GoverniuR Law: Sc•eraibility. This form of mortgage combing uniform covenants for national ,
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security itutrotnent covering
veal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the i
event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Nate which can be given effect without the conflicting provision, and to this
end the provisions. of the Mortgage and the Note arc declared to be severable.
ii. lson+ower's Cory. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof. e
17..Transter of the Troredy: Aswmptiott. Tf all or any part of the Property or an interest therein is sold or transferred ;
by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the crcatton of a purchase mca?ey security interest for household appliances, (c) a transfer by devise,
deeoart 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 shat! have waived uich option to aexelerate if. prior to the sale or transfer, Lender
and the person to whom the Property is to be salt or transferred reach agreement in writing that the credit of wch person
is satisfactory to Lender and that the inter~•st payable on the sums secured by this Mortgage shalt be at such rate ac Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Bomower's successor in
interest has executed a written auumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obluations under this Mortgage and the Note.
If Lender ezercixs such option to accelerate, Lender shalt mail Borrower notice of acceleration in accordart~-c with ~
paragraph 14 hereof. Such notice :hail 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. Tf Borrower fails to pay such sums prior to the expiration of such period,
Lender may, without further notice or demand on Borrower. invoke any remodiex petmittect by paragraph lg hereof.
Not+-UNIFORM CoveN~rits. Borrower and Lender further covenant and ap+ee as follo*rs:
10. Aeederatios; Reasedks. Except s rrovitlkd itt raragryr 17 hereof, ttron ietrewes's twitter d tray caestatN K
agreeatatt of >tan~awer io tr4 Mortgage. rtci~dittg the corettttttts to py wren dire any sttssts sussed fly iris Mortgage. iesder ~
rtriotr is seedtrstlos step trap tsotlct to Itotratwcr as rrovNsd is raragrapb 14 carrot geetfyisiz p) ere brescr: (2) ere ecttsw
' seettrired M asst trscr Meaeig (3) s dtNe, tat less Craw 30 days trove the date pre rsottee is ttsapeell N Mrnwtt, b7' wrkr sa?ci
bsrrecr stsst k esnel~ tttsd (1) fret hipsre to esrt torch breech a or ttetoa ere date sreeliai t. ere sofiee tray t+esslt V
aeeekrMias of ere tttttsa seeped r!' tris Mortgage. tosrAotsrr r7' JtrdlcW rreetediag atsd salt est ere )rrarerty. 71te series
sri tsetrer irJorta Itiorrewet d ere tiRrt a reinstate after eecekratios arts ere right b assert N ere tereeMtawe psecaeisR
Ae sos•etcirteset of a ddasM or ant otter defense of forrower to eccekrMiss and toreelowtse. Here tlctaeM r tat awed ow
ar reterr ere ittte sreeYsd i• ere ttwpct. Lender at t.esder's action wry declare >r of pre ssr seesrtd y Iris Mertpge ~ re
i~ssedietrly dst ttttd rsyaMe wifrost trtrttter demand cud star toreelose this MoMptgt by jsdkial rtrseeedMtg. Leader snap }
bt etstlptd to tepee! r :fret rreettdittg cep exressa of fortctwssrt, itttrttlittg, tlst fret ~ M, eeasasabk sttwrrer's rtes.
tttsi etrNs of iectt~eMsry eddesee, abstracts tend title nprb. t
1!. •ersewa't R~Itt ti RNsatats. Notwithstanding Lender's acceleration of the sums sexured_ b)' thrt M,rigaje.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time j
aal~3~~ PaGE
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