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Leader's written sgreement or applicable taw. ~ Borrower shall pay the amount of all mortgages iasuraraoe ptemitura in the
manner provided under paragraph 2 hereof.
' Any amounts disbursed by Lender purwant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other teens of payment. such
amounts shall be payable upon notice: from i.ender to Borrower rtt~ue3tjn~ p`a~aent thereof, and shall bear interest from the
date of disbursement. at the rate payable from time to lime on outstanding principal under the Note tmkss psyrneat ~
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 take
any action hereunder.
>I. las'eetiow, 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 b Leader's
interest in the Property.
9. CoaieanWiow, The proceeds of any award ar claim for damages. direct or consequential. in oonraection ttida any
condemnation or other taking of the Property, or pan thereof, or for conveyance in lieu of condemnation. are hereby assigned
and shall bt paid to Lender.
in the event of a total taking of the Property. the proceeds shall be applied to the wms 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 Lender
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the prooeedt
as is esgwl to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date tai
taking bean to the fair market value: of the: Property immediately prior to the date of taking, with the balance of the proceeds .
paid to Borrower.
If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the eondaanor offers b stake
an award or settle a claim for damages. Harrower fails to 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 o[ the
Property or to the sums secured by this Manlta~te.
Ur:iess Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not emcwrd
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount eat
such installments.
11. Isosrower Not Released. Extension of the time for payment or modiflcation of anrortiution of the sums secut~ed
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operates to rcksse, in any manner.
the liability of the original Borrower and Borrower's successors in interest. Lender shall not bt required to commence
proceedings against such staccessor or refuse to extend time for payment or otherwise modify anaortintan of the sums
sexured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Forbearance r7' Leader Not s Waiter. Any fart+earance by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall eat be a waiver of or prexlude 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 bt a waiver of Lendar's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
l2. Rea~ediss Crxraarrare. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or atfordcd by law or equity, and may be exercised concurrently, independently or wooessively.
1S. Saeeessors arcs Assigns Iloarad: John anal 3eteral i.is6iWy; Cspaoas. The covenants acrd agreements hearse
contained shall bind. and the rights hereunder shall inuug to. the.respective successors and assigns of Lender sod Borrower.
wbject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several.
The captions' and headings of the paragraphs of this Mortgage are for converisence only and are not to lk 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 notices b
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 Borrower may designate by notice to Tender ss provided herein, and
(b) any notice to Lender shall be given by certified mail, return receipt requested. to Lender's address stated bercin or to
j such other address as Lender may designate by entice to Borrower as provided herein. Any tactics provided for in this
i Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designrtted hertin•
1S. Uaiforw Mort~e: GoverahaR Law: Sererabaity. This foram of mortgage carbines uniform oovenaats for national
use and ran-uniform rnvenants with limited variations by jurisdiction to constitute a unifortrr security instrument covering
~ real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is Wcated. In the
event that any provision or clause of this Mortgage ar the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Nate which can be given eBect without the conflicting provision. and to this
end the provisions of the Mortgage and the Note arc declared to be severable.
lf. liors~ower's Cop Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
's of execution or after recordation hereof.
~ 17..'I~aasfer of ere lhotesry: Aasaaaptiow. if 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 creation of a purchase money security interest for househdd appliances, (c) a transfer by devise,
desoerat 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 tha Mortgage to be
immediately due and payable. Lender shall have waived Stich option to accelerate if. prior to the sale or transfer. Lender
and the person to whan the Property is to be said 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 Borrower's successor in
interest has executed a written assumption agreement accepted in writing by Leader. Lender shall release Borrower from all
obljgations under this Mortgage and the Note.
if Lender exenises such optan to auekrate. Lender shall mail Borrower notice of acceleration in accordance with
pansgraph 14 hereof. Such notice shall provide a period of not less than 30 days from the daft the notice is ma'kd within
which Borrower may pay the sums dxlared due. If Borrower tails to pay such sums prior to the expiration of such period,
Lender may, without further notice of demand on Borrower. invoke any remedies permitted by paragraph 1R hereof.
Nett-UtetFOrart Covt=_xsurrs. Borrower and Lender funkier covenant and agree as fdbws:
iR Aeeeksaas~ Rdadia. Estept as povNei b p~npr 17 reaeet, ~a •ersewes's tract et any eetemsrrt ear
ap~ee¦aeaR of Msrrwer r cats Mortgage. faelaifag ere cortaasrrts to day wren tae say awns eeeaead y kris Mortgage. Leaser
prier w aceeksrdioa srsB airil notice to lorrower as prorNei h pragraplr 14 tercet s'eeltylags q) tie bs+aer: m ere selNa
re*irea to care wet breaeri (3) a i1t, wa Ids uarr 3t days trorw ere salt ace notice r maiei N Isernwer. by wrier srrett
rreaer .rl be erred a.r1(n tract taWa~e w c.re .ter rr+ada err ear retore sae safe .psdiei t• ere .Dace .sy reasslt V
aoeedeesasa eat the wttr secured by aria Malgage. to.exiowee y }dieW peees~rrg aai asle eat tre Pe+s'erry. 'ere .epee
aW t¦rser rdee. >torrrwer eat sae right a reiadale aNer sceeleeatba aai are right to assert iw are taesekarre weoee~
Ire norrredifenee eat s er><sait er sep direr decease of Sorro~wer is aecekrtlMa aai tersdeearer. N ace beerier r net awrei ea
tar setae are +.le speeiieil 1• are asaee. Leaser at reader's o/tiar r.ay aea;6are ar eat ere saner seew~ei by 11fale Meelprpe w k
I¦r~taia/elp drre aai Myabie witroat farts dcrnand sad rosy foeeeloa rids lYlatgags h jaikW pneee~. Lender daN
k eatltled N esrset V wet Nocesiisg s! arpeasrx of fae:closare. iaebifai+ bat asf ilrtritei fray eerrsasble stturaear's feces.
aai esMs eat eietataealary eriieate, abNescb sad tide reprls.
i!. laeneaweas'e R4M N RdaMate. Notwithstanding Lenders aeoekration of the sums secured by the Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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