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Lender's written agreement or applicable law, Borrowor~shall pay the amount of all. mortgage insurance ptemiurna in the
manner provided under paragraph 2 , h~evf:
Any amounts disbursed by Lender pursuant • to ~t~is paragraph 7. with interest thereon, shall become additional ~
indebtedness of Borrower scented by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
amounts shall be payable upon notice from lender to Borrower requesting payment thereof. and shall bear interest from the
date of disbursement. at the rate payahk, from time to time on artstanding principal under the Note unless pa~rmeet of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest tale
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or fate ~
any action hereuatkr.
s. ltr~tetisw, Lender may make or cause to bt made reasonable entries upon and inspections of the Property. provided
that Lender shat) give Borrower notice prior to any such inspection specifying rea:anabk carne therefor related to Lender's t
interest in the Property.
Coaiemrattiart. 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 thereof, or for conveyance in lieu of condemnation. are hereby assigned i
and shall be paid to Lender. ;
In the event of a total taking of the Properly, the proceeds shall be applied to the sums secured 6y this Mortgage.
with the excess, if any, paid to Borrower. in the event of a partial taking of the Property, unless Borrower and Larder e
otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds t
as is egwl 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 prooeedr
paid to Borrower. .
If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offas to mate
an award or settle a claim for damages. Borrower fails Io respond to Lender 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 otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due daft: of the monthly installments referred to in paragraphs t and 2 hersot or change the amount of
such insUllment's.
ill. Borrower Not Released. Extension of the time for payment or modifkation of amortization of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not ope~att to release, in any manner,
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to eommertce
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sum:
securr:d by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Forbesnwce by Lewder Not s waiver, Any forl+earance by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shalt 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 shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness scarred by this Mortgage.
12. Remedies Mttthllve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy unckr this Mortgage or afforded by law or equity, and may be.exercised concurrently, independently or successively.
13. 3rteeressors awd Assigws ¦ottwd:.Toiwt awl Several i.i~ryr; Capflewr. The covenants and agreements herein
contained shall bind, and the rights hereunder shall incug to, the.respective successors and assigns of Lender sod 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 rnnvenience only and an not to tie uxd to
interpret or define the provisans hereof. ~
14. Notice. Except for any notice rcgrrircd under applicable law to 6e given in another manner, (a) any notice to ~
Borrower provided for in this Mortgage shall be given by mailing such notice by certifkd mail addressed to Borrower at
the Property Address or at such other address as Bormwer may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shaD be given by certified mail. return receipt requested, to Lender's address stated txrein or to 1
such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be detmed to have been given to Borrower or Lender when given in the manner designated herein.
1S. Uwitiorw Mortgage: Gorerwiag Law: Severa6ility. This form of mortgage combines uniform covenants for national
uae and tan-uniform covenants with limited variations by jrrrisdiciron to constitute a uniform axurity inatrutnent covering
tral property. This Mortgage shah be governed by the !aw of the 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
other provisions of this Mortgage or the Note 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.
li. )forrower'a t,.o~y. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..'ltawrter of tre ~
Tro~erty: Aswwtptiow. If all or any part of the Property or an interest therein is sold or transferral
by Borrower without Lender's prior written consent, excluding (a) the cration of a lien or encumbrance subordinate to
this Mortgage, (b) the creatron 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's option. declare all the sums secured by this Mortgage to be
intmediatety due and payable. Lender shall have waived such option to sccekrate if. prior to the sale or transfer. Lender
and the person to whom the Property is to be cold 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 ac Lender
shall request. If Lender has waived the option to accelerate provided in this paragraph 17, :nd if Borrowers successor in
interest has exscuted a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
oblj~ations under this Mortgage and the Note.
If Linder exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance N•ith
paragraph 14 hereof. Such notice shall provide a period of not Jess 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 sums prior to the expiration of such period,
Lender may. without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
Ntx+•Ut+tt~otrut COVENANTS. Borrower and Lender further covenant and a(ree as folbws:
lti. Accdera~tiom Reatedks. Excep as rrovNtd i• paeitgryh 17 hereof, tipw liotrrwer's twareh et arty cevewawt K
aBree~ewt of larrswer d tltis Mortgage, ittefrt~rtg the corewawfs Io py whew due arty stuns seewred try tttit MatRitgt. Lewder
prior to sccekratlew sluff wtait wotke to eorrawer as provided h panrgraplt 14 hereof s'eeNyi~: (1) Mre.trreaeU; t=) the attiew
rgaiai M care t~tteh lirtac~ (3) s date, riot less flaw 3• days frorw the date fire wotke r tattikd M •errawer. try wlkh such
Meaeh t,tttat k ewed; awl (4) that fap.re to erne sirelt lreael a er letere the date gteMed V tfte wotiee eay rattlt i•
aeoeleratlnr of tlt sw¦ts seemed by tttir Mort=sge. torecfostrre b i~w M'o~i awl salt et tic Pnorerty. 71e wetlee `
ahr (tuber iwforti tiornwa o[ tle eiRM to reiashft after aceekratbw anti Cite riglM b astrM N tle torseNtwe ptoeeeig
tint wow•esitewer of s default or arty etler detewre d 11{orrowet fe aetekrafiow arts toreeioeae. N the tir~eaclt k act ettrait M
or tbefore the Batt yeeiiti i¦ the wotke. Lewder at l.ewder's option wsay deetiare all e# the stttaa seetr~tti iy His Mertpge is k
iwtastdialely lire awl pyaYe wiboN iwrtler detnanA awd twat' faeekee thin Merlgagt by j.diei.l prreeedl~t. Lender s1taB
6e safHki to eaitet fi we#'recta+ibtg r expewra of forecbstrrt._ itteatiirtg. hrt ¦N tMNed tae, reatorakk stturaer's fees.
asi acts of iaeru~ertfary eriiewet, abrtrwets ttwd tkk repro.
1!. •orrowa's Rftlt a ReWtMe. Ndwithstanding Lender's aeoekration of the sums secured by thrs Martgsge,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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b~r;K314 Pa~E12`72
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