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Lender's written agreement or applicabk 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 thu paragraph 7, with interest thereor?, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and' l.endorragrce to other terms of payment, such
amounts shall be payable trpan natke from lender to Harrower requesting prymcnt thereof, and shall bear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under the Note unless pajrmertt o[
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rs~
permissible under applicabk law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
8. ht~spectiou. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that !.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Leader's
interest in the Property.
9. Condewraafbw. The proceeds of any award ar claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, ar far 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 prcxeedc shall be applied to the sums sectrrod by this Mortgage,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Leader
otherwise agree in writing. there shall be applied to the sums secured 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 dste of
taking bears to the fair market value of the Property immediately pricer to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Property is ahandoned by Borrower. ar if. after notice by !.ender to Borrower that the condemnor oRers to make
an award ar settle a claim for damages. Borrower f:rilc to res~and tc. Lender within 30 days after the date such notice if
mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall cwt extead
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount d
such installments.
18. Borrower Not Released. Extension of the time far payment or modification of amortization of the sums secured
by this Mortgage granted by Tender 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. i.ender shall not be required to commence
proceedings against such successor or refute to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the origins) Borrower and Borrower's successors in interest.
11. Forbearance by Lender Not a Waiver. Any forbearance by lender in exercising any right or remedy hereunder, or
otherwise afforded by applicabk 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 taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indehtedttess secured by this Mortgage.
l2. Remedies Cumuh>ttie. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy tender this Mortgage or afforded by law ar equity, and may be exercised concurrently, independently or successively.
' !3. Successors sad AseiRu Bound: Joint sad Several I.iaM'13ty; Captlorrs. The rnvenants and agreements herein
contairttd shall bind, and the rights hereunder shall incrg to, the respective successors and assigns of Leader seed 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 chic Mortgage are far convenience only and art 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 Mortgaee shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at•such other address as Harrower rose designate by notitt 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 notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been green to Harrower or Lender when given in the manner designated herein.
j 15. Uniform Mortgage; Governing Law: Sewersbilitr. 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 covering
real property. This Mortgage shall be governed by the law• of the jurisdiction in which the Property is located. In the
:s event that any provision or clause of this Mortgage or the Note conflicts with applicabk law, such conflict shall not sliest
j other provisions of this Mortgage or the Nate which can be given eRect without the conflicting provision, and to this
a end the provisions of the Mortgage and the Note are declared to he severable.
16. Borrower's Copy. Borrower shall be furnished a conformed cop}' of the Note and of this Mortgage at the time
of execution or after recordation hereof.
' 17..Trswder of the Property: Assumption. If alt or any part of the Property or an interest therein Is sold or transferred
t by Borrower without Lender's pricer wriarn consent. excluding (a) the creation of a lien or encumbrance subordinate to
' this Mortgage. (b) the creatran of a purchase mc•ne}• securit}• interest for household appliances, (e) 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 sums secured by this Mortgage to be
q 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 solJ or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be st such rate ac 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 tram all
obligations under this Mortgage and the Note.
r 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 rwt less than 30 days from the date the notice is mailed within
F, 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-UHtFOatrt CoveNarrrs. Borrower and Lender further covenant and agree as follows:
lfi. Accderstioti; Reurcdks. E:cept ss prowfdcd iu paragrsph 17 tiered, upu lsorrw.a's btreaelt of Leery co.euattt or
~ greemeut d llbrrower b fhb Mortgage, laicludisg the covenants to pay when due wy sows stteurc! by Ibis Mortgage, Lender
prior to accekrstlou shaft> wail wotlce to IfBorrewer as prowWtd fin paragrsph 14 hereof specKyiug: (1) the btrcach; (2) the ectbu
requhed to cure such 6reacb; (3) s date, not less thaw 30 days trove the date the arotice b wttYed M Derrower, by whkh such
5 beYSCh wont be cured; and (4) that failure to cure stick brescb ou or before /he date speeYed r the wotke wsy result
s><cekraitloi d the stiwa secured by ebb Mortgage. toreclosurc by judkW preese~Mg seed sale of the Troperry. 'Iles notice '
shall ttirther iutoera itbnewer off the riRbt to rrisstatc suer arcekrsdoa awd the right b arcrt i• tht toreeloatie proeseitg
tfate awtrexbtetoee d a detauk or any other deteaise of Borrower to aKCCkratbu awd foreclowre. K the beeach b not esettd a
or before the Bats specified N the erotice. Lewder at I.ewder's option way declare sll of the stews sreterei by !hb Mort=age b be
iwwedbtcly due seed pyabk without further demand and rose foreclose fhb Mor~age by judkW prreeedhtR. Lender drag
be es#itled to tolleet b such proceeding sN a:peones of foreclosure, larehediag, but Est ¦seifs+ M. reasswtMe set+xser's fees. i
and eesls of doe.-weutarr evidence. abstructs,aurd tick reports.
19. >sonr4wer's Ri'<bt to Rcitrtate. Notwithstanding fender s acceleration d the stuns secured by ekes Mortgage,
Borrower shall have the right to have any proceedings begun by !.ender to enforce this Mortgage discontinued at any time
Boox 320 P~~E 705