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Lender's written agreement or applicable law•. $orrower shall pay the amount of all ~e insuran~~jttiums in the
manner provided under paragraph 2 hereof. -
Any amounts disbursed by Lcndcr par+uant to this paragraph 7, with interest thereon, shall lx:rnme additional
indeMcdnesc of Borrower secured by this Mortgage. l'nleec Burrower and Lcndcr ague to other terms of payment, such
amounts shall he payable upon natirc from Lcndcr to Bar o++cr re~ questink payment thereof, and shall hear intcrcd fmm the
date of dicburscment at the rate payable fn+m time ti?,iti~f[i1Z ~~ij ~tt~anding principal under the Note unless payment of _
interest at such rate would be contrar)• to applicable L•t+v. in which event such amounts shall hear interest at the highest rate
permissible tender applicable law. Nothing contained in this paragraph 7 shall require Lender to incur an)• expense or take
any action hereunder.
8. Inspection. Lender ma}• mak+ or cause to be made reasonable entries ;;pop and inspections of the Property, provided
that Lender shed) give Borrower notice prior to any such inspection specifying reasonable cause therefor rda. i to [.ender's
interest in the Property. -
9. Condemnation. 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 rnnveyance m heu of condemnation, are hereby assigned
and shall be paid to Lender. ,
In the event of a total taking of the Pmpert)•, the pra:eeds shall be applied to the sums secured by this Mortgage,
with the excess, if any. paid to Barrowcr. Tn the event of a partial taking of the Property. unless Borrower and Lender .
othemisc agree in writing. there- shall be applied to the sums secured by this Mortgage each pm{x?rtion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immcdiatel+• prior to the date of
taking bears to the fair market value of the Property immediately prior to the date of taking, with fire balance of the procetds
paid to Borrower.
If the Property is abandoned b)• Borrower. or if. after notice by i_ender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower fails to res{x•nd to Lcndcr within i0 days after. the date such notice is
mailed. Lender is authorized to collect and apply the proceeds, at Lender's option, either M restoration or repair of the +
Properly or to the sums secured h}• this Mortgage.
. Unless Lender and Borrower othenvisc agree in w-ritine, am• such application of proceeds to principal shall not extend
or postpane the due date of the monthly installments referred to in paragraph. 1 and 2 hereof or change the amount of
such installments.
10, Borrower l\'ot Released. Extension of the time for payment or modification of amortization of the soma secured
by this-Mortgage granted by Lcndcr to am• successor in interest of Borrower shall not operate to release, in any .manner, _
the liability of-the original Borrower and Borrower c successors in interest. Lcndcr shall not he required to commence
pnxeedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured M• this Mortgage by reason of any demand made h.• the original Borrower and Borrower's succescorc in interest
11. Forbearance by Lender Not a Waiver, Am• forbearance M• Lender in exercising ape right or remedy hereunder, or
otherwise afforded by applicable law. shall not he 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 m accelerate the maturity of the indebtedness sec+rrcd by this 1?forteage. -
12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative M any other right or
remedy under this Mortgage or afforded by law or equity. and may he exercised concurrently. independenth• or successively.
13. Successors and Assigns Bound: ?oint and Several Liabilify; Captions. The rnvenants and agreements herein
contained shall hind, and the ri~ehtc hereunder shall inure to, the r~-spective successors anJ assigns of Lender and Borrower.
subject to the provisions of paragraph 17 -hereof. All covenants and agreements of Borrower shall he joint and several.
The captions and headings of the paragraphs of this Mortgage arc for convenience only and are not to he used to
interpret or define the provisions hereof.
14, !\otice. Except for any notice required under applicable law- to he given in another manner. (a) any notice to
Borrower pnwided for in this Mortgage shall he given h}• mailing such notice by rerufied mail addressed to Borrower at
the: Pmpcm• Address or a: such other address as Borrower ma+• decitinate M• notice to Lender as provided herein. and -
Ih) am- notice to fender shall tx: given by certified mail, return receipt reyuexted. to f cndet'e address stated herein or to
such other address as Lender may designate M• notice to 8ornnver as provided herein. Any notice provided far in this
~lorgage shall ix: deemed to have been given to $orn?wer or lender when given in the manner designated herein.
15. Uniform :Mortgage; Cocernin>; l.aw: Severabilit}•. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument cwering_
real property. This Mortgage shall he governed by the lain of the jurisdiction in which the Propem• it located. In the
event that any provision or clause of this tl~iortgage or the l\ote conflirte with applicable law. such conflict shall not affect
other provisions of this Mortgage: or the Note which can he given effect +vihout the conllicling provision. and to this
end the provisions of the Mortgage and the emote arc declared te? hC eeverahic. _
16. Borrower's Cop}. Borro++•cr tihall 5e furnished a a~nfetrmcd ropy of the Norc and of this Mortgage at the time
of execution or after recordation hereof. -
17. Transfer of the Property; Assumption. Tf all or env part of the Pmperh• or an interest therein is sold or transferred
by $orrower without Lender's prior written consent. excluding ta? the creation of a lien or encumhranre subordinate to
this Mortgage, (h) the creation of a purchaur money security interest for houtehoW appliances. (c) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or hU the grant of any leasehold interest of three years or less
not containing an option to purchase. Lcndcr may, at fender'e option, declare all the sums secured by this Mortgage to be
immediatd}• due and payable. Lender shall have waived arch option to accelerate if. prior to the sale or transfer. Tender
anJ the person to whom [he Property ie te? he sohl or transferred reach agreement in writing shat the credit of such person
is satisfactory to Lender and that the interest pa} able on the some eecured h}• this Mortgage shall be at such rate as Lender
shall request. If Lender has waived the option to accelerate provided in this laragraph 17, and if Borrower's successor in
• interest has executed a written assumption agreement accepted in writing by Lcndcr. lender shalt wlease Borrower from all
obligations under this Mortgage and the Note_
If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
paragraph I, hereof. Such notice shall provide a period of nut lest than 30 days fmm the date the notice is mailed within
which $orrower may pay the-sums declared due. If Bourn+cr fails to pay such sums prior to the expiration of such period,
Lcndcr may, without further notice or demand nn Borrower, love?ke any remedies permittetl by paragraph )f3 hereof.
Note-UNIFORIN Covetv~NTS. -Borrower and Lender further covenant and agree as follows:
18. Acceferation; Remedies. Except as prosided in paragraph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the covenants to pay when dare any sates cee•ured by this Mortgage, Leader
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure snch breach; (3) a date. not less than 30 days from the date the notice is mailed fo Borrower, by which such _
breach must be cared; and (4) that failure to cure such breach on or before the date specified is the notice may result in
acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding
the non-existence of a defauh or aoy other defense of Borrower to acceleration and foreclosure. If the breach is not cured on
or before the date specified in the twtice, Lender at Lender's option may declare all of the snots secored by this Mortgage to be
immediately doe and payable without further demand and may foreclose this Mortgage by judicial proetedittg. Leader shad
be entitled to collect in such proceeding ap e:pensa of foreclosure. indnding, but not limited to, retusoaabk attortney's tea,
and costs of docotmentsry evidence. abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstanding Lenders acceleration of the sums secured by this Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this lliortgage discontinued at any time
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