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lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage iwsuratxe pr+eanitrtns in the
manner prov~.ied under paragraph 2 hereof.
- Any amounts disbursed by Leader pursuant to tha paraa~~~~~7r~wita interest thereon, shall becortte-additional
indebtedness of Borrower
secured by
thisl~lortgage. Unless Bor~3wer' and Lmdcr agree to other ternts of payment, such _
amounts shall be payable upon notice from lender to Borrower rogtrtsting payment thereof, and shall bear interest ttnm the
date of disbursement. at the rate payable from time to Time on outstanding principal under the Note tmkss pajrment Ot
interest at such rate would be contrary to applicable law. in which event such amounts shall beat interest at the highest rats
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense otr ttlTae
any action hereunder.
g. laspcctiow. i.endcr 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 inspxtion specifying reasonable cause therefor related to Larder's
interest in the Property. - -
9. CowaewtaNiow. The proceeds of a:ty award or claim for damages, direct or consequential, in connection with gar
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are 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 std under
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion' of the prooeedt
as is equal to that proportion which the amatnt of the sums secured by this Mortgage immediately prior to the dates of
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the pmoxds
paid to Borrower. ~ -
If the Property is abandoned by Bor:ewer: 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 i.ender within 30 days after the date such notice b
mailed, Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration of repair of the
Properly 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 screed
or postpone the due date of the laonthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
- 10. )dorr+ower Hof Rek:sed. Extension of the time for payment or modification of.amortization of the stmss 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 contrrtertoe
proceedings agairW such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by-reason of an.Kdernand made by the orieinal Borrower and Borrower's successors in interest.
11. Forbarawee by Leader Not a Waiter. Any forbearance 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 of remedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of I.endet's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
_ li Reawedks Ctsmtalattit. All remedies provided it 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 sttecessivtly.
' 13. Socetssors and AssiRws 1<ourd; .]Dint and $ererd i.iabiBty; Captions. 'Ilse covenants and agroetnertts herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Leader sect Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joir~ and several.
The captions' and headings of the paragraphs of this Mortgage are for convenience only ~ and are not to lie 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 other address as Borrower may designate by notitx to lender 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 nc?tice to Borrower as provided herein. Any notice pro:ided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
1S. Ualforw Mortgage; Governing Law; Sererability. This form of mortgage combing uniform covenants 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 eBect without the eatflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severable.
- 16. lbrmwt~s Copy. -Borrower shall be furnished a conformed cope of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Tnwsfer of the 1•r+operty: Assumption. 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 (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase money security interest for household applianoa, (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 ssms secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to aceelerate if. prior to the sale or transfer. Lender
and the person to whom the Property is ts? be colt or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable on the sums secursd by this Mortgage shall be at inch rate as Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers sttecessor in
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release 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 accordanc-c with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the ratite is mailed within
which Borrower may pay the sums declared due. if Borrower fails to pay such stems prior to the expiration of such period.
Lender may. without further notice or demard on Borrower. invoke any remedies permitted by paragraph lg hereof.
Not+-UwtF'oat?t CoVenarrrs. Borrower and Lender further covenant and agree ss follows:
lg. Acteieratb~ Remedies. Except as prettied is paragraph 17 bereot. R~ >sorrawa'a Mraer et awr eoewntt ar
agrtare¦t of >torrower r tots Mortgage, belaliwg tie eo+ewaaxs to py whew toe say saws sterrti il? tYs Morlgagq l.enier
prbr b aecderatlow slt~ Bail wotkt to Eorrower as provided is pngraplt 14 Aestot speetfylwgs (1) the Meaeh: tie sdMw
eegoired b core net breast; (3) a dale, wet las ~ 30 days [row the Gate the wotiee b wrtiei to iornwtr. try wbkb strt:lt
brrcaeb mwit be eerti; awn (4) that tailrrre to cwre ssctt breach a or before the dMe gecilioi iw the wotice way resole bt
aecskrMiow of ~e tAaws aecwred by this Mortgage, tot+eclostrrt by jadiefal proceedb~g anti salt of the lroperty. 71tt wstiee
sbaY twrt<ter iafonw >sorrower of the right b reiwstate after secekratlow awn the right b avert i• ttie teneiosorte ptotseiwg
bt wow-esWett~ee of a iefatdt or sy other detewse of liorrowtr to accekratbw awd toreciowre. B the brr<aelt b wet ewrei M
or [utore the lab spttiei i• the wotice. Lender st l.ewier's optiow way declsre aw d the w¦rs seewrei br efts Marge b bt
iiwwediaiely doe stet payaMt wrkboat tallier demand and way foresiost ebb Mor~ags by jtrileW prwceeiwR. Lewde? dal
be ewtl8ei b caileet V net pr~ag d expenses of foreclosure. iweloliag. Got wet lhwile> tla. r+taaowaMe snorsers fees.
awl cosh at isesawewtsrr eviiewee. abstracts awl title repro.
1!. /on~awa's RkM b Rtiwrtatt. Notwithstanding Lenders acceleration of the suns secured by thr_ 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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