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Lender's written agreement or applicable law, Borrower shall pay the amount of all mortgage insurance, prtmiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by 1-ender pursuant to this paragraph 7, with interest tF.ercon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement st the rate payable from time to time on outstanding principal under the Note unless pa}rrerent of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest me
permissible under applicable law. Nothing contained in this paragraph 7 shall require i_ender to incur any experae or tats
any action hereunder.
Il. taspeetioa. 1_ender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that tender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Larder's
interest in the Property.
9. Coadenraatba. The proceeds of any award or claim for damages, direct or consequential, in connection with nay
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 total taking of the Properly, 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 and Larder
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 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 abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to mate
an award or settle a claim for damages, Borrower fails to respond to lender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds, at lender's option, either to restoration or repair of fire
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 not extard
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. aorrower Not Rekasaed. Extension of the time for payment or modification of amortization of the sums 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 commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Forbearance br Leader Not a Waiver. Any forhearance 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 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 indebtedness secured by this Mortgage.
12. Rearcdies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded bylaw or equity, and may be exercised concurrently, independently or successively.
13. Successors and Assigns Found; Joint sad Several i.isbiNtr; Captious. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inrtr~ to. the respective successors and assigns of Lender and 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 arc for convenience only and are not to tk 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 Bormwer may designate by notice to Tender as provided herein, and
(b) any notice to Lender shall be 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 given to Borrower or Lender when given in the manner designated herein.
1S. Uniform Mortgage; Governing Law; Severabilitr. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrumenC covering
~ real property. This Mortgage shall be governed by the law of the jurisdiction- in which the Property is located. in the
i 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 effect without the conflicting provision, and to this
E end the provisions of the Mortgage and the Note are Declared to be severable.
~ lf. )sonowa's Cory. Borrower shall be furnished a conformed cop)• of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Transfer of the Property; Assarrrptioa. if all or any part of the Property or an interest ihercin is sold or transferred
by Borrower without Lender's prior written consent. excluding (a) the creator 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.
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
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the wle or transfer, Lender
and the person to whom the Property is to be co1D or transferred reach agreement in writing that the credit of such person
t is satisfactory to Lender -and that the intere.t payable on the sums secured by this Mortgage shall bt at such rate ac Lender
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
oblisations under this Mortgage and the Note.
Tf Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance: with
F 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 expiration of such period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
Now-Uwtt:oater CovewetvTS. Borrower and Lender further covenant and agree ss folioars:
lfl. Aeeeleration; Rasedia. Except m provfded ie prsgrspb 17 besot. anon •orrowds breaarb of arty covenaa/ or
atrocttseat of >6onowaer V t1.4 Mortgage. iaciadiwg the eoreasats to pr when ire oar soars teetaei by Shit Mortgage. ienler
prior b accderstbn dull tsrail notke to •orrower ss provided In paragraph 14 bttreo[ speel[rbg: (1) the breach: (2) the action
rgair~ei to a~¦re s¦cb breach; (3) a date. not ks than 30 days tr+our the late the wotke r talks to lorrower, sr wbkh arch
breach o¦st k c¦rt~ sand (1) that ta0rrre a care arch brarcb oa or batore the date sreeYel b the a?otict roar ratsnN b
~ aeaeekrdion of rte wttas secttnel br this Mortgage, toneclosnrar b jirtdkial rroeselirrg saes tale of the Property. 71re wotice
a drat t¦rther iatorm iorrwwer o[ the riRM to reirrsbte after secekrMbn swd the right to sstert iw the torteiowre protee~
s the no.-eswence of a aletadt or oar other letanase of Eorrower to sccekrMbn sad toreelosare. N the breach b not a:¦rei ow
or 6dore the isle srecifiei i• the wotke. Leader at I.ewder's onion declare a• of the turns tec•¦rcl b Solt Mortgage Sao be
~ fstrrncdiatelr doe ani prable witbod tsrtber demand and arsr foreclose this Mortgage br jitdlcw rroceedisR. Lender soap
be arsrtilkl to co8eat b sock rroeeedisg ar a:peaces of foreclosure. bxhdisg. b¦t act Wnitei to, ressonabk sttorsetr's feu.
ttsri cab of aivcwr.+entarr evidence, s6straeb aal talk repro.
1!. •orrowa's Rlsb! to Reinstate. NotwithstandinE Lenders acceleration of the sums secured by than Mortgage,
Borrower shall have the right to have any proceedings hegun by Lender to enforce this Mortgage discontinued at any time
320 P~cE 2.341 •