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Leaders written agtoetnent or applicabb kw. Borrower shall pay the amount of alt mortgage insurance pteraiutm in the
meaner provided under paragraph 2 hereof.
Any amounts disMrrsed by Lender pursuant to this paragraph 7. with interest (hereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and !.ender agree b other terms of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interpt frntn the
date of disbursement. at the rate payable from time to time on outstanding principal under the Note unless pstiyreteat of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the higher rats
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expaae or fate
any action hereunder.
>s. lttspectiort, Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to L,atder's
interest in the Property.
9 C~ The proceeds of any award or claim for damages, direct or consequential. in corutectiort with arty
condemnation or other taking of the Property, or part therrof, or for conveyance in lieu of condemnation. arc hereby assigned
and shall be paid to Lender.
in the event of a total taking of the Property, 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 Larder
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such pt~oportion of the proceeds
as is equal to that proportion which the amount of the sums scarred by this Mortgage immediately prior to the dste of
taking bears to the fair market value of the Property immediately prior to the dale of taking, with the balanot: of the p+ooeeds
paid to Borrower.
if the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor otters to mate
an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days aher'the date such ratite is
mailed, Lender K authorized to collect and apply the proceeds. at Lender's option, either to restoration of 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 date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments. ,
lt. Borrower Nof Reknsed. Extension of the time for payment or modification of amortization of the sums secut+ed
by this Mortgage granted by Lenckr to any successor in interest of Borrower shall not operate to reksse, in any manner.
the liability of the original Borrower and Bc?rrower
s successors in interest. Lender shall not be required to commence
proceedings against such suocexaor 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 orifinal Borrower and Borrower's successors in interest.
11. Forbearance it Eerier Not a N?siver. Any forlxarance by Lender in exercising any right or rsmody heretmder, 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 Leoder's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
]2. Ren~eiies Ctnrrrrlafi•e. All remedies provided in this Mortgage are drstinet and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or sucees:ivdy.
' 13. Snt:eessas and AssiRas •ourrd: Jdnt ant Several i.ia6i1N~, Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall imrr~ to, the.rapoctive successor and assigns of Lender sod Borrower,
subject to the provisions of paragraph 17 itercof. All covenants and agreements of Borrower shall be join( and several.
The gptions' and headings of the paragraphs of this Mortgage arc for convenience only and are not to Ile used to
interpret or define the provisions hereof.
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 dher address as Borrower may designate by notice to i.ender 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 as provided heron. 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.
1S. UNform Mort~e; Govcrsi~ Lsw; Severa6iiitr. This form of mortgsge combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument coveting
real property. This Mortgage shall be governed by the !aw of the jurisdiction in which the Property is located. to the
event that any provision or clause of this Mortgage or the Note conflicts with applicable law. such conflict shall not afket
~ other provisiau of this Mortgage or the Note which can be given effect without the conflicting provision. and to this
E end the provisions of the Mortgage and the Note arc declared to be severable.
~ lf. •orrnwer's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
` 17..7~arter of fie Property: Asarwrptiow, if all or any part of the Property or as interest therein is sold or mnsferred
by Borrower without Lender's prior written consent. excluding la) the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchace money security interat for household appliances, (c) a transfer by devise.
descent or by operation of law upon the death of a joint tenant or (d) the gent of any leasehold interest of three years or less
not containing an optan to purchase, Lender may, at Lender
s option. declare all the sums secured by the Mortgage to be
immediately due and payable. Lender shall have waived such option to atxeknte if. prior to the sale or transfer, Lender
and the person to whom the Property n to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the inten~ct 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 Borrowers successor in
interest has executed a written starrmption agreement accepted in writing by Lender. Lender shall release Borrower from all
obljpttans under this Mortgage and the Note.
If Lender exercises such option to accelerate. Lender shall mail Borrower notice of accekntion in accordance 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 wms declared due. if Borrower fails to pay such sums prior to the expiation of wch period.
Lender may. without further ratite or demand on Borrower, invoke any remedies permitted by paragraph 1 g hereof.
NoK-Ur+tt~oant CovENANTS. Borrower and Lender further covenant and agree as follows:
lt. Aeederatio~ Remeiies. Sxeept r provMei i• raragrapb 17 Iter~sot, ~N •orr~wtr's iet~ei st asy ereaaM s<
agresttae¦1 of Mrrr+wer t• file Mortgage, inciiniiag the t:srenast to pay wiew int arrr strrrrs seefarti it this Mortgage. (.crater
prior to seceleratlen slant mail wotice to •orrrwer s providN r Mragra/h 14 tercet speel[ria~ (1) tie it+rtaela (21 tie sdNn
rpiei Io ewe wren irene~ (3) a dolt, net ks tlaw 3• days tr~onr tie thte tie nstiee is trrsYci N >iorrawtr, Yy wYti srreY
t irtaei nmst fK enre~ asri (41 bat failsre N core net rrtaei on or ietore tie date speelSei V tie notice nay rssrtN tin
aaeleratlsw of tie war oet:trrti b Ais Morlsagc, taraiostat b 1~W N~¦it ant sale of tie >rrrapertr. '11re notice
silai Mier intorrn Itornsrer of tie rigit to rcirtaie suer seeekratbn sni tie right M assert N tic tatt:Msrre praeti~
i tie non•e~dstenee of n ietarrlt r atq abler ietewse of >forrower t. Ktiakratforr ant torselosore. B tie ireaei fr not ettsei M
or ietart tie isle speeiBti i• tie alive. Lender at t.enier's optiow ray ieeiare r rat tic str¦rs stettrsi itry tits Mortagpe Ia k
itsrmeiialehr ire awi paraYe wltiont tnrther demand ad rear toreelat tilts Mor~age fajr jjnileiai pnaeiR. Lender dell
k onWloi N ea0oet ii saxi proeeeiirtg si expenses Af forcckswc, inelniirtg. int rant ¦r¦Ilsi to, rewnoYe sttwrreti's fees.
ant cost d ioentwenfarr e~iiareq attNract and t111e report.
1!. Mrnwes's Rkirt a Roinrkau. Notwithstanding Lender's aocekration of the sums soured by this Mortgage.
Borrower shaft have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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