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I-rndrr's wntten agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disburse) by 1-ender pursuant tx? this paragraph 7, whh interest thereon, shall become additional
indrhtrdness of Borrower secured by this Mortgage. llnlrss Borrower and Lender agrn;c to other terms of payment. such
amounts shall he payable ulx~n notice from I ender to &,rn?wrr rryuesting payment therrnf, and shall bear interest from the
date of disbursement at the raft payable from time to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing containeJ in this paragraph 7 shall require Lender to incur any expense or tale
any action hereunder.
8. laspection. Lender may make or.•ansr to t+r made rraconable entries upon and inspections of the Property, provided
that Lender shall give Borrower mice prior to any such inspection specifying reamnable cause therefor related to L~tder'a
interest in the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in controction with any
condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation, arc hereby assigned
and shall be paid to Lender.
In the event of a tots! taking of the Property. the proceeds .hall he applied to the sums secured by this Mortgage,
with the excess, if any, paid to Borrower. In the event e~f a partial tai.ing of the Property, unless Borrower and Lender
otherwise agree in writing. there shall bt 3pplicd to the sums secured M• this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of flit sums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Property immediately pnor to the date of taking, with the balance of the proceeds
paid to Borrower.
if the-Property is ahand~nrd by Bor:ower. or if after notice by 1 ender to Borrower That the condtrDnor offers to make
an award or settle a claim for damagrti. Harrower fail. m respond to !.ender within 30 days after the dale such notice is
mailed. 1-ender is attthori7ed to collect and apply the proceeds, at I.ender'c option, either to ratoration or repair Of the
Property or to the sums secured by this !Nr,rtgaee.
Unless Lender and Borrower otherwise agree in rihne. any such application of proxeeds 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 O[
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to am• succcsu~r in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and &~rrowcr's successors in interest- lender shall not be required to commence
proceedings against such successor or refuse as extend time (or payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
11. Forbearance by Lender Not a Waiver. Any forbearance by 1 ender in exercising any 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 1-ender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this \lortgage.
12. Remedies Camulathe. All remedies provided in this 1liortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law• or equity, and ma) he exercised concurrently, independently or sttecessively.
' l3. Successors and Assigns Bound; Joint and Several Liability: Captbns. The covenants and agreements herein
contained shall bind, and the rights hrre,trder shall in„re to. the respective successors and assigns of Lender acrd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joit~ 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 hereof.
14. Notke. Except for any polite rey,iired under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall he given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as B~~rrower may designate by notice to lender as provided herein, and
~ (h) any notice to Lender shall he g,ven by certified ma,l. return receipt requested. to Lender's address stated herein or to
~ such other address as Lender may designate b} notice to Borrower as provided herein. Any notice provided for in this
I Mortgage shall be deemed to base been g,s•rn to Borrower ar Lender when given in the manner designated herein.
IS. I,'niform Mortgage; GorerninR I.aw: Se.erabilit). This form of mortgage combines uniform covenants for national -
use and non-uniform covenants with limited variations hs junsdictinn to constitute a uniform security instrument covering
r real property- This Mortgage shall he governed by the law of the jurisdiction in which the Property is located. 1n the
event that any provision or clause of flit. !?tortgage ar the titee conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note which can be gn•en elect without the conflicting provision, and to this
end the provisions of the Mortgage and the titre .ere Jecl:,rrd to he severable.
16. Borrower'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. ,Transfer of the Property: Assumption. if all ar am part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prig wnti.n concept. excluding (a? the creation of a lien or encumbrance subordinate to
this Mortgage. Ib) the crcatton of a punhase manes security interest for household appliances, (c) a transfer by devise,
descent or by operation of law• upon the death of ja,nt tenant or td? the grant of any leasehold interest of three years or less
not containing an option to purchase, [.ender may, at lender's apt,or+., declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have w:uyed such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is a, be .ol.l or transferred reach agreement in writing that the credit of such person
is satisfactory to i_ender and that the intcrc.t payable on the s„ms 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 all
obljgations under this Mortgage and the Note.
If Lender exercises such option to accelerate. lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not lest 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 stems prior to the expiration of cueh period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph to hereof.
Nosy-UNIFORM CoveNeNTS. Borrower and t-ender further covenant and agree as follows:
18. Acctleratba; Reracdks. Except a provided in paragraph 17 hereof. tttpoa Borrower's breach of asy covtraant w
agreetmeat of Borrower is this Mortgage. tacluditng the cotenants to pay when due nay wass stxarctl bf this Mortgage. Leader
prior to accelentloa shad ttttsail aotke to Borrower as proridcd is paragraph 14 hereof specKyfstg:ll) the bs+acb; (2) the setba
• regtsired to ctrr+e web breacb;l3) a date. not less than 30 days from the date the aotke fa ataikd to Borrower. by wbkb web
breath etttst be cared; need (4) that failure to cure s1scA brescb on or before the date sped6ea is Ibe tttwtke near result b
accderatfoa of the wars secured by this Mortgage. toreclosurr by judicial proceeding evil s»tk of tbte Propetrry. The wotfice
shall further iafore Borrower of the right to reinstate titer accckratbn and the right to assert is the foreclowte proteedltsg
the ours-a:isttrsce of s detsuk or any other defense of Borrower to acceleration and toreebwre. If the breach b not c~ee~ oa
or before the date specNied is the aotke. Lender at Lender's option easy declare ad o/ the vies secarei by tiY Mortgage to bt
ietnediateiy dot anti payable without further demand and may foreclose this Mortgage by jadkW ptroetetiht~. Linder shtsN
be entitled to collect h each proceeding all experues of foreclosure. ladudirq. bat not Ifwltta to, rtasoaabk trtt•,rney's feu.
and costs of doctr~atrttary erideace. abstracts and title reports.
19. Bonowet's Rfgbt to Rebttsiste. Notwithstanding Lender's acceleration of the sums secured by th,e Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any tune
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