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L.etrder's written agreement or applicable law. Borrower shalt pay the amount of all mortgage itrsuratrce pr+aaitttrrs is the
~rrrratrer provided under paragraph 2 het+eof. '
Any amounts disbursed by Larrkr pursuant to this paragraph 7, with iarter+ast thereon, shall becotrre additional
indebtedness of Borrower secured by this Mortgage. Unl~ Borrower and Lender tyke to other terans of paynoetrt, 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 payable from lurk to time on outstanding principal under the Note unless paytrreat of
interest at such rate would be cartrary to applicable law, in which event such amounb shall bear interest at the highe><t rats
permiasibk under applicable law. Nothing contained in this paragraph 7 shall regtrire Lender to incur ray expense oc tabs
any action hereunder.
8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the PropeAy, provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Larder's
interest in the Property.
9. Coniesaratbs, The proceeds of any award or claim for damages, direct or consequential. in oontrectiotr with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby atsigaed
and shall be paid to Lender.
In the event of a total taking of the Property, the proceeds shall be applied to the sutras 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 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 daft: of
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balatrce of the proceeds
paid to Borrower.
if the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemtror offer to make
sn award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such taotice is
mailed. Lender is authorized to collect and apply the proceeds. at lender's option. either to ratoration 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 trot 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. Eonower Not Released. Extension of the time for payment or moditkation 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 Borrower and Borrowers 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 t+eason of any demand made by the original Borrower and Borrower's successors in interest.
' 11. Forbearance 6y header Not s Waiver. Any forhesrance by Lender 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 shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies Cnmslative. 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.
13. Ssccessoas and Assigas Bound: Joint and Several i.isMUty; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigru of Lender acrd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joir8 and several. _
The 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 hererf.
14. 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 fender as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to i.enders address stated herein or to
such other addras as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have bten given to Borrower or Lender when given in the manner designated herein.
I5. Uniform Mortgage: Governing law: Severability. This form of mortgage combines uniform rnvenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed by the law 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 are declared to be severable.
16. Eomowet's Copy. Borrower shall be furnished a conformed cop}• of the Note and of this Mortgage at the time
f of execution or after recordation hereof.
17. Transfer of the Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lenders prig written consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creatron of a purchase mone}• securit}• interest for household appliances, (e) a transfer by devise. _
descent or by operation of law upon the death of a joint tenant or (dl 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 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 solJ or transferred reach agreement in writing that the credit of such person
~ is satisfactory to Ixnder and that the interc.t pa}•able nn 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 successor in
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from alt
obligations under this Mortgage and the Nate.
If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordancw with
paragraph 14 hereof. Such notice shall 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. 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.
~ Norv-Urrt>:oat?t CaverrerrTS. Borrower and Lender further covenant and agree as follows:
~ 18. Accekratios; Remedks. Escept as provided is paragraph 17 iereof, tapota Eorrower's 6resci of arty covenawt or
agreetaest of Eorrower b this Mortgage, isclndisg the covenants to py when dtae say mats st:esrei by tfais Mortgage. leader
s prior to sccekratiw sbaq mail raotke to Iorrower as provided ie pragrapi 14 hereof speeltydg: (1) the breach. (2) the setts
regsired b crate ssc6 brcscb; (3) a date, not less lien 30 days from the date tie taotke fs salkd to Borrower, by which stnci
breach tesst be cared; grad (4)-that fa0nre to care such breach os or before tie date specified b the wotke arsy reratlt iw
j scederNios of tie stems stxsred by trek Mortgage. foreclosure by jndkial proeeediarg anti sale of the Property. Tie notice
sbaB fsrtlaer isfors Eorrower of tie riRlrt to reinstate after sceckntios sac! tie r•igitt to atatert h fire foreciosttre pocetditrg
tie face-existence of s defaoit or sey other defense of doa•rower to accekratios and foredoarrs. N the brexlr b trot aw~ei ar
or before the dste specifies in tie notice. Lender at i_enders optics Wray dechre sw of the sntns secsred by this Morrtgape to be
immediately dne and pyabk withost further demand and may toreckse flab Mortgage by jsikW ~roceedisR. Lender shall
be eatides to collect iw ssci proceeding all a:peasa of foreclossrc. h~clndiog, bet sot Bmitd to, ressosabk r~tbsrnrv's fees.
atetd costs of oocr:~sestaq evidence, a6stncts and title reports.
19. Borrower's Rigit to Reinstate. Notwithstanding Lenders acceleration of the sums secured by tht~ Mortgage.
Borrower shall have the right to have any proceedings begun t,y lender to enforce this Mortgage discontinued at any time
ao`~~ 3~5 Pa~E2435