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Lender's written agreement or applicable I~w. Borrower shall pay the amount of all mortgsge insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph wqh t~lterest hereon, shall become additional
in+kbtednrsc of Borrower secured by elite Murlgage. Unlecc Borrower and Lender agree to other terms of payment. such
amounts shall be payable upon notice from I.endcr to Burrower reyucsting payment thera+f. and shall bear interest from the
date of disbursement at the rate payable from tune to time on outstanding principal under the Note unless payrttent of
interest at such rate would be contran+ to applicable law, in which event srlch amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this puagraph 7 shall require Lender to incur any expense or tall
any action hereunder.
g. laspectioa. Lender may make or cause to he made reasonable cmriec upon and inspections of the Property, provided
that Lender shall give Burrower nutlce pri+?r to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Coademaafba. The proceeds of any award ur claim fur damages. direct or consequential, in eonntetion with any
condemnation ur other taking of the Proprrty. ur part t?rerrnf, ur fur conveyance in lieu of condemnation, are hereby assigrrod
and shall be paid to Lender.
In the event of a total taking of nc~ Property. the prcxc'c:ds 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 Lender
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
as is equal Io that proportion which the amurlnt of the sums secreted by this Mortgage immediately prior to the date of
taking bears 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 ahanduned by Bor.uwer. or if. after notice by !.ender to Borrower that the con_ demnor offers to mane
an award or settle a claim fur damages. Burrower f:rih ti. res~ and to Lender within 30 days after the daft such notice is
mailed, 1_ender is arrthurized to collect and apply the proceeds. at lender's option, either to rCStoration or repair of the .
Properly or to the sums secured by this Mortgage.
Unless !.ender and Borrower otherwise agree in writrnc. any such application of proceeds to principal shall not extend
ur postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. Extension of the time fur payment or modification of amortization of the sutras secured
by this Mortgage granted by !.ender to any crrcceccor in interest of Burrower shall not operate to rcleasa in any manner,
the liability of the original Borrower and Btrrower ~ successors in interest. 1_ender shall not be required to commence
proceedings against such successor or refrlce to extend time for payment or otherwise modify amortization of the srrtns
secured by this Mortgage by reason of any demand made by the cxi¢ina) Borrower and Borrower's successors in interest.
11. Forbearance by Lender Not a Wainer. Any furhearance hs• !.ender 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 or remedy.
'Tl,p ......,........~.....s lr~ ..s ,..h_- !irnc ^f rhsMrc ~Y I_!!!ldtr shall !lot bt a waiver i~f I_~rl~Itr'><
right to accelerate the' maturity of the indehtednecs secured by this Mortgage.
12. Remedies Comuhti~e. All remedies provided in this Mortgage are distinct and cumulative to any other tight or
remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or successively.
' 13. Saccessors and Assigns Bound: Joint sad Serelral !.lability; Captloas. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inrrr~ to, the respective successors and assigns of Lender strd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joirtj and seven!.
The captions and headings of the paragraphs of this Mortgage are fur convenience only and arc not to lie used to
interpret or define the provisions hereof.
14. Notice. Except for any notice rcyuired lender applicable law to be given in another manner, (a) any notice to
Borrower provided fur 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 i_inder as provided herein, and
(b) any notice to Lender shall be given by cerlified mail. retrlm receipt requested. to Lender's address stated herein or to
such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to hasc peen g!c•en to Burrower or Lender when given in the manner designated herein.
IS. Uniform Mortgage: Governing law: Severabitity. This form of mortgage combines uniform eovetuu?ts for national
l use and non-uniform covenants with limited variations h}• 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 clar~ce 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 effect without the conflicting provision, and to this
i end the provisions of the Mortgage and the Note are declared to he severable.
( 16. Borrower's Copy. Borrower shall be. frlrnished a conformed cop}• of the Note and of this Mortgage at the time
I of execution or after recordation htreuf.
€ 17. ,Tramfer of the Property: Assumption. if all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior wrincn consent. excluding (al the creation of a lien or encumbrance subordinatt to
this Mortgage. (b) the creation of a purchase money security interest fur household appliances, (c) a transfer by devise.
descent or by operation of law upon the death of a joint tenant or Id1 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 this Mortgage to be
j immediately due and payable. Lender shall have waived srlch option to accelerate if, prior to the sale or transfer, Lender
! and slit person to whom the Property is to be cull ur transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the intcrest payable on the sums secured by this Mortgage shall be at such rate as Lender
1 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 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 accordance N•ith
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the daft the notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
Nort•Urrtrottrrr CoverietvTS. Borrower and Lender further covenant and agree as fdlvws:
lg. Acceleration; Reitrtr:dka. Except as provided in paragraph 17 hereof. apoa Borrower's breaelr of any eovetsawt or
agrtttmewt of Borrower ie this Mortgage. Iwdudiag the covenants to pay whew doe ssy st..~s seeared by tlds Mortgage. Lewder
prbr to sccekratba shatl timrN aotke to Borrower as provided In paragraph 14 hereo[ spreeifyhtg: (1) the beach; f2) the setbw
e~et{aired to cnt'e ttocr beach; (3) s date, not less than 30 days from the date the wotke it ttirailed to Botmower. by whkb sncir
beset tsetse be cwred; sad (1) that faitarc to cure such breach oa or before tic daft geciied ` ere aotke nay resaN d
accdcratbw of ere snwts ssctmd by this MortgsRe. forecbsart by jardicW proceedni awl sale of the Mperty. The tsotiee
shaU farther iwfarwr Borrower of the right to rehrutate aflcr sccekratbw and the right to cased h ere toteclowte
ere nos-a:Meace of a defaok or say other deteast of Borrower to scctkrstba sad torecbwre. N tie breach M aW cared o~
a or before the date speciRed b ere entice. Lender at Lender's option ~ decbre V of ere srrttas stenred by Ibis ModgaRe b be
imnKdiately dot awl pyable witboat further demand and troy forecbse this Mortgage by jadkW prrteedfaR• Lender shag
be entlthxg to collect d sacr proceeding sll expenses of foreclosarc, ladudiag. bat sot )rrrdtsi to. reasoaablt trtt.xnev's fees.
sad Dods of ioc`!wewtary evidence. abstracts sad title reports.
19. Bonowes's Right to Reinstate. Notwithstanding Lenders acceleration of the sums secured by slits Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
3:»K 3i9 Pa~E2~~3
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