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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance promiuaa iw the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedneu of Borrower secured by this Mortgage. Unless Borrower and Lender agroe 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. at the rate payable from time to time on outstanding principal under the Note unless pajrewewt of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rafts
permissible under applicable law. Nothing contained in this paragraph 7 shall require Ltnder to incur soy experae a take
any action hereunder.
>L Iwarectiow. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Cowdewrwstiow. The proceeds of any award or claim for damages, direct or cortsequeatial, in connection with say
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu o[ condemnation. are hereby assigned
and shall be paid to Lender.
In the event of a total taking of the Property. the proceeds shall be applied to the sums stxured by this Mortgage.
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property. unless Borrower and I.eoder
otherwise agree in writing. there shall be applied to the sums secttrrd 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 date of taking, with the balance of flee proceeds
paid to Borrower.
If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the eondeasrtor offers to make
an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice b
mailed, Lender is authorized to collect and apply the proceeds. at Lender's option, tither. to trostoration or repair o[ 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 not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 het+eof or change the amount of
such installments.
10. borrower Not Rekarted. Extension of the time for payment or modification of amortization of the sterns stscured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to teksse, in any manner,
the liability of the original Borrower and Borrowers successors in interest. Lender shall not be roquired to cotnmertce
proceedings against such successor or reftice 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 Borroarcr's successors in inter+at.
11. Forbearance r!' Lewder Not a Wsiver. Any fort+earance 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 i,eader's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Rewudka Caswelatl~e. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently ~r strcoasively.
' 13. Sweceasas sd AsdRws boewd: Jobe awi Several i.iw6ilily; Captions. The covenant: and agroemertts heroin
contained shall bind, and the rights hereunder shall inurg 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 joird and several.
The captions' and headings of the paragraphs of this Mortgage are for convenience only and aro not to tk used to
interpret or define the provisions hereof.
14. No~ee. Except for any notice required under applicable law to be given in another manner, (s) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certifed marl addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to I.errder as provided herein, and
(b) any notice to Lender shall he given by certified mail, return receipt requested. to Lendtn's sddress stated herein or to
such other address as Lender may designate by nc?tice to Borrovd•r as provided herein. Arry notice provided for in this
Mortgage shall be deemed to have bcen given to Borrower or Lender when given in the manner designated herein.
l3. Uwiforwn Mortgage: Gotrerwbyt Law; Se•ersbiity. This form of mortgage combing uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to cort:titute a uniform security iratrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Proparty is located. 1n the
event that any provi:ion~or clause of chic Mortgage or the Note conflicts witfi applicable law, such eonAict sha0 not affed
other provisions of this Mortgage or the Note which can be given e6ect without the catAieting provision. and to this
end the provisions of the Mortgage and the Note arc declared to be severable.
lf. bon+awer'a Cory. Borrower shall be furnished a conformed copy of the Note and d this Mortgage at the time
! of execution or after recordation hereof.
17..Tranater of fie Trorerty: Aswmptiaw. if all or any part of the Property or an interest therein is sold or traraferred
by Borrower without Lender's prior written 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 sppliarrces. (c) a transfer by devise,
! descent or by operation of law upon the death of a joint tenant or (d) the gent 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 securod by this Mortgage to be
E 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 co1J or transferred reach agreement in writing that the credit of such person
~ is satisfactory to Lender and that the interc~t payable on the sums secured by this Mortgage shall be at such rate as Lender
shall request. Tf Lender hss waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
' interest has executed a written assumption agreement st:ceptcd 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 accekntion in accordanc-c 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 sutras prior to the expiation of such period,
Lender may. without further notice or demand on Borrower, invoke any remedies permitted by paragraph lA hereof.
Mort-UrttFatt?t Covertstwrs. Borrower and Lender further covenant and agra as follo+rs:
li. Accelerratfow; Remedies. Escert m provided lw pwragrarr 17 hereof. epn betrrtweara ir~eseit of nary eavesaN sr
apeemewt of borrower b fib Mortgage. Iwciwdiaig tie co.ewawts to py when doe aq gems seewred Iq tides MortBagt. i,ewder
rrbr a aeceiersNow stab wswY aotke to borrower m rrovWed b pragrarM 14 iereol srtclfylags (1) the hewer; (21 ere aetMn
rgtdred to ewre acct treacle (3) n dale. woe less traw 30 days from tie date fire wotiee b wtaitd tie bornwer. ily wild sect
is+eaei wswst ie ewred; std (4) trat fslbre to curt stici rrtaer a or refor+e tic date artcifitd V ere wotke mar reswlt V
at:cekrMiow of tie terns seemed br fib Mortgage. tortcioaert h l~~ rL awd sale d tit h~oredy. Tire wotke
siaN twrtber b><orws botrrower of tie right to refwstNe affect acceleratlow awd tie rlgltt ~ saseA i• tie torttlesme rretttig
ere wow-a:istewce of w defwwlt or srry otter detewse of borrower to wceekratforn siwd tortelowst. K Ire ire+ci b toot cured a
or 6etort tie dNe areriial i¦ tie wotiee. Lewder st [.ewder's ortbw rosy deehre aft of tit saws stewrsd b tits Mort;abe fta ie
bamedidely dee awd pyaliie witroN twrtrer demand awd wuy foreclose trls Motrtgage ily jndieW rreteedl¦R. Lewder dri
be atltled to eobtet V soer rroeecdirr! V a:peones of forecbsere. iwcrrdia;. bwf Nt liwnittd M, reaaanaile sttwrtey'a fees.
_ std eostDa of ioe.'~wewtary eridewee, sbatraets awd tkk repro.
1!. borrowp'a Rigit to Ret¦state. Notwithstandintt Lenders acceleration of the sums secured by thr! Mortgage,
3 Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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