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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, ,wjth. inteaest thereon, shall become additional
in~khtedness of Borrower secured by this Mortgage. Unless Borrower ahd Lender agree to other terms of payment! such
amcutnts shall he payable ulx~n notice from (.ender to &~rrowcr requesting payment (hereof. and shall bear interest from the
date of dicbtrrsement at the rate payable fn?m time to time ~x? outstanding principal under the Note unless pa}rrnettt of
interest at such rate would t+e contran+ to applicable law, in which even) such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require i.ender to incur any expense or take
any action hereunder.
8. lospeefioa. lender may make or cause to he made reasonable entries upon and inspections of the Property. provided
that 1 ender shall give Borrower noti:r prier to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Cottidemaatbn. The proceeds of any award or .•laim for damages, direct or consequential, in connection with shy
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assignod
and shall be paid to Lender.
In the event of a total taking of the Property. the proceeds ehall he 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 he applied to the sums securcJ by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date o[
taking bears to the fair market value of the Property immediately prior to the Jate of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoncJ by Borrower. or if. after notice by t ender to Borrower that the condemnor ogees to make
an award or settle a claim for Damaecs. Borrower fail. to respond to (.ender within 30 days after the date such notice is
mailed. lender is authorized to collect and apply the proceeds. at (.ender t option, either to ratoration or repair of the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writrnF. any such application of proceeds 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 of
such installments.
10. Borrower Not Released. Extension of the lime for payment or modification of amortization of the sums secured
by this Mortgage granted by (.ender to any successor in interest of Borrower shall not operate to release, in any manner.
the liability of the original Borrower and Borrower's successors in interest. lender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
se:axed by this Mortgage by reason of any demand made by the ori¢ina) Borrower and Borrower's wcceswrs in interest.
11. Forbearance by (.ender Not a Waiver. Any forbearance by (.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.
The procurement of insurance or the payment of fates or other liens or charges by tender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this~Mortgage.
12. Remedies Camulati~e. All remedies provided in 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 successively.
' 13. Soccessors and AssiRws Bound:.Joint and Several I.iabitlty; Captbas. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender sod Borrower,
subject 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 arc for convenience only and art not to be 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 Born,wer rosy designate by notice to Tender 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 notice to Borrower as provided herein. Any notice provided for in this
~ Mortgage shall be deemed Io have been given to Borrower or Lender when given in the manner designated herein.
i5. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform rnvenants for national
E use and non-uniform covenants with limited variations h}• jurisdiction to constitute a uniform security instrument covering
£ real properly. 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_~r the Note_rnnflicts_wnh applicable. law, such conflict shall. not affect
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~ other provisions of this Mortgage or the Note which can be given eQect without the conflicting provision, and to this
~ end the provisions of the Mortgage and the 'Vote are Declared to be severable.
16. Eorrower's Copy. Borrower shall be furnished a conformed cop~• of the Note and of this Mortgage at the tithe
of execution or after recordation hereof.
17..Traasfer 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 svritt:n consent. excluding (a? the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
ckscent 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, (.ender may. at Lender's option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
and the person to whom the Property is to be :oIJ or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the intcrc.t 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 Lender, Lender shall release Borrower from all
oblijations under this Mortgage and the Note.
Tf Lender exercises such option to accelerate. Lender shall mail $orrower notice of acceleration in accordance With
paragraph 14 hereof. Such notice shall provide a period of not less 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 sums prior to the espiration of such period.
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1R hereof.
Noty-UNIFORM Covt=tv~Nrs. Borrower and Lender further covenant and agree as follows:
la. Accelentiow; Reaudia. 1?:cept as provided is patsgrsph 17 hereof. rpe Sorrewer's breach of a.y cotretaawt or
~ sErecwewt of Eorruwer fs ebb Mortgage, including the covenants to pay whew due asy sttuss seetrtd by this MortEaEe. Lewder
_ prfior to aceekratba sbaB wall ratke to ldornpwcr to pro•fded is paragraph 14 hereof sreefitylag: (1) the breach; (21 tbt st:tiow
regraded to core swe6 breach: (3) a date. woe kss than 30 days trove the date the wotke b ttaaBea to ¦orrower, by wbkb srrcb
breach wwt be crated; sad (I) that failure to cure srrcb brcscb a or bstore the date spcclieti b the wotiee way rtstrlt b
~ accekratbw of the wws secured by ebb Mortpge. forcriosere by jodiclal'roeeedME terra sale of the Ptroperty. 'lire notice
sheep fwrtber iwfonw domowet of the r•iRbt to reltsstste after accektratioa tud the rlbt to attaett h the toreriowte'roe~
the wow-exbteaee of a detaak or say Mher detcnse of Borrower to accckratbw aai totetlosrre. N the breach Is raf cwsd ow
or before the dtNe specified b the wotke. Lender at I.er~er's optbw way decbttre v of the saws ttttcuaea by ibis MortgtRe to be
iwtaediatdy dae nwa pynble witbotN further demand and may foreclose ebb MottEaEe by jirralel.l ptoteedt~t. Lender sbaq
be etatltkd to cotleei d tttrcb procecdiag ap ettpenses of toreclosnre, Mcludiag, but woe f~ ta. atasowable tNtureer's tees.
ass cosh of doer7ewfary eddcwct, abstracts turd title ttports.
19. Dortontn's RIEbt to Rttbstate. Notwithstanding !.ender s acceleration of the sums secured by tht~ MoAgage,
Borrower shall have the right to have any procecdmgs begun by Lender to enforce this Mortgage discontinued at any time
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