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lender's written agreement ar applicable law. BarrONCr 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, with interest thereon, shall become additional
indebtedness of Borrow•cr secured by Chic Mortgage. Unless Borrower and Lender ague to other terms of payment, such
amounts shall he payable upon notice from Lender to Harrower rcyuesting payment thereof, and shall hear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary to applicable la++•, in which event such amounts shall hear interest at the highest rate
permissible under applicable law. Nothing contained in this p:ragraph 7 shall require Tender to incur any expense or take
:?ny action hereunder.
8. Inspection. i_ender may make ar cause to be made reasonable entries upon and inspections of the Property. provided
that lender shall give Borrower native prior to any such inspection specifying reasonable cause therefor related to tender's
interest in the Property.
9. Condemnation. The pnw•eedc of any award ar claim for damages, direct or consequential, in connection with any
condemnation ar other taking of the Property, or part Ihereaf, or for conveyance in lieu of condemnation, arc hereby assigned
and shall he paid to I_endcr.
In the event of a total taking of the Property. the pracceds shall he applied to the sums secured by Chic Mortgage. I
with the excess, if any, paid to Borrower. in the event of a partial taking of the Property, unless Harrower and Lender
otherwise agree in writing. there shall he applied to the sums secured by thic 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 hears to the fair market value of the Pmperlr immediateh• prior to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned by Borrower, ar if. after notice by Lender to Borrower that the condemnor offers to make
an award ar settle a claim for damages, Borrower faih to respond M Lender within l0 da+•s after the date such notice is
mailed. 1_cnder is authorized to collect and apply the proceeds, at lender ~ option. either to restoration ar repair of the
Property ar to the sums secured h+• this 1Nartgage.
Unless Lender and Borrower athenvice agree in writing, am• such application of proceeds to principal shall not extend
or postpone the due date of the manthly installments referred to in paragraphs 1 and 2 hereof ar change the amount of
such installments.
10. Borrower Not Released. Extension of the time for pa}•mcnt ar 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 Borrower's succcscars in interest. Lender shall not he required to commence
pnceedings against such successor ar refuse to extend time for pa}•ment or otherwise madif}• amortization of the sums
secured by this Mortgage h}• reason of am• demand made by the arieinal Borrower and Borrowers successors in interest.
11. Forbearance by (.ender Not a Waiver. :1m• forbearance M• Lender in exercising any right ar remedy hereunder. ar
otherwise afforded by applicable law. shall not he a waiver of or preclude the exercise of am• such right or remedy.
The procurement of insurance or the payment of taxes or other liens ar charges by Lender shall not he a waiver of Lender s
right to accelerate the maturity of the indebtedness secured M• this Mortgage-
12. Remedies Cumulative. All remedies pm+•ided in this Mortgage arc distinct and cumulative to any other right ar
remedy under this Mortgage ar afforded by law, or cyuiq•. and ma+• 1>,: exercised cancurrenth•, independenth• ar succecsivel}•.
13. Successors and AScigns Bound; Joint and Se+eral i.iabilih•; Captions. The covenants and agreements herein
contained shall hind, and the rights hereunder shall inure 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 he joint and several~
The captions and headings of the paragraphs of this Mortgage arc for convenience oral}• and are not to he used to
interpret ar define the provisions hereof.
14. Notice. Except for, any notice required under applir.?hfe law to he given in another manner. (al any notice to
Borrower provided far in this :~iartgaee shall he given M- nr.?iling such notice M• certified mail addressed to Borrower at
the Property Address or at such other address as Borrower ma+• designate by notice to Lender as provided herein. and
(hl any native to Lender shall he gi+•rn h}' certified mail. return receipt requested. to Lenders address stated herein ar to
such other address as Lender ma}• designate M' notice to Barrawer as provided herein. Any notice provided far in this
I' Mortgage shall he deemed to have been gi+•cn to Barnnccr ur Lender when given in the manner designated herein.
~ 15. Uniform :Mortgage: Governing T.aw: Severabilih•. This farm of marteagc rnmhines uniform covenants far national
use and non-uniform covenants with limited variations by jurisdiction to canstitute a uniform security instrument cavering
f real properl}•. This Mortgage shall he governed by the law of the juriuliction in which the Property is Icx:ated. In the
event that am• provision ar clause of this tilartgage or the ?dote rnnflicts +vith applicable law,. such canflict shall nat affect
~ other pmv~sionc of this 111prtgage i~r the Note which cur he given e(Fect withrn?t the canflicting pmvisian. and to this
end the provisions of the Mortgage and the \otr :?re ~Ieclared to tx severable.
16. Borrower's Copy. Borrower shall tx furnished conformed cagy of the Nate and of this 1ltartgage at the time
of execution ar after recardatian hereof.
~ 17. Transfer of the Propert}; Assumption. If all or an+ part of the Pmpert}• ar an interest therein is Bald ar transferred
j by Borrower witha?rt Lender's pricer written consent. excluding tat the creation of a lien ar encumbrance subordinate to
this Mortgage. (hl the creatian of purchase mane}, security interest for household appliances, (c) a transfer by devise.
descent or M• olxration of law upon the death of a joint tenant or (d~ the grant of am• leasehold interest of three years ar less
pat captaining an aptian to purchase. Lcndcr may, at I_cndcr's option. declare all the sums secured by this '\lartgage to he
immediateh• due and payable. lender shall have waived etch option to accelerate if. pricer to the sale ar transfer. fender
and the person to wham the Property is to he sold or transferred reach agreement in writing that the credit of such person
is saticfactar}• to Lender and that the interest pa}:ihle on the sums secured h+• this Mortgage shall be at such rate ac Lender
shall request. If Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower ti successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Harrower fram all
uhligatians under this Mortgage and the Nate.
If Lender exercises such aptian to accelerate. Lender shall mail Borrower native of acceleration in accardanee with
paragraph 14 hereof. Such native shall provide a period of not less than 30 days from the date the native is mailed within
which Harrower may pay the sums declared due. If BarfaNer faik m pay such sums prior to the expiration of such periad.
Lcndcr may. without further notice ar demand on Borrowxr. invoke am' remedies permitted by paragraph 1R hereaf_
Nor-UNIFORM CoyevxN-rs. Harrower and Lender further rnvenant and agree as follows:
18. Acceleration; Remedies. Fzcept as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this !ttortgage. including the covenants fo pay when due any sums secured by this Mortgage. Lender
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure such breach; (3) a date, not less than 30 da}~s from the date the notice is mailed to Borrower, by which such
f breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. The notice
r shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding
the non-existence of a default or any other defense of Borrower fo acceleration and foreclosure. 1f the breach is not cured on
~ or before the date specified in the notice. Lender at Lender's option ma}• declare all of the sums secured by this Mortgage to be
immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding.. Lender shall
be entitled to collect irr such proceeding all expenses of foreclosure. including. but not limited to, reasonable attorney's fees.
and costs of documentary evidence, abstracts and title reports.
19. Borrower's Right to Reinstate. Natwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedings begun by 1_ender to enfarce this Mortgage discontinued at any time
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