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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, with interest thereon, akin(( become additional
indebtedness of Borrower secured by this Mortgage Unless Borrower and Lender agree to other toms 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 hom time to time on outstanding principal under the Note unllessss pa}?trrest of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any experae or takt3 i
any action hereunder.
8. IstPectios. Lender may make or cause to be made rcaconable entries upon and inspections of the Property. ptmridod
that lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Properly.
9. Cowdemnatbs. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for 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 prexeeds shall be applied to the sums secured by this Mortgage,
with the excess, it any, paid to Borrower. In skis event of a partial taking of the Properly, 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 skis amount of the sums secured by this Mortgage immediately prior to the date of
taking bears to tfre fair market value of the Property immediately poor to the date of taking, with the balance of skit proceeds
paid to Borrower.
If the Properly is abandoned by Bor:ower. or if after notice by (.ender to Borrower that the condemnor offers to make
an award or settle a claim for damages, Borrower tail. to respond to Lender within 30 days after the date such ttotioe is
mailed, Lender is authorized to collect and apply the proceeds. at lender's option, either to ratontion or repair o[ the
Properly or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writinc. 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. 1!<orrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage Scanted 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 successors in interest. Lender shall not be required to commence
proceedings against. such successor or reface to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of an}• demand made by the original Borrower and Borrower's wceesson in interest.
11. Forbearance br Lender Not a Waiver. An}• 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 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. Remedks Cemulatitre. 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. Successors and AssiRes Bound: Joint and Several T.iabilitr; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inor~ 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 jolty and several.
The captions and headings of the paragraphs of this Mongage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notke. 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 certifkd mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Tender as provided herein, and
(b) any notice to Lender shall he given by certificd~mail. return receipt requested. to Lender's address stated herein or to
such other address as Lender may designate bra notice to Borrower as provided herein. Any notice providtd for in this
Mortgage shall be deemed to have been given to Borrower or lender when given in the manner designated herein.
1S. Uniform Mort erg Law: Severabilit .This form of mon a combines uniform covenmts for national
Rage: coverni y g Se
~ use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
E real properly. This Mortgage shall be governed by the law of the jurisdiction in which the Properly is located. 1n the
event that any provision or clause of Chic Mortgage ~r the Note conflicts with applicable law, such conflict shag not affect
other provisions of this Mongage or the Note which can be given effect without the conflicting provision. and to this
end the provisions of the Mortgage and the 'Vote are declared to be severable.
r 16. Eorrower's Copy. Borrower shall be furnished a conformed cop}• of the Note and of this Mortgage at the time
t of execution or after recordation hereof.
i 17. ,Trsssfer 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 wriu~n consent. excluding sal the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creatu?n of a purchase money security interest for household appliances. (e) a transfer by devise, _
descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less
not containing an option to purchase. Lender may, at i_ender'c 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 t.. br solJ or transferred reach agreement in writing that the crtdit of each person
is satisfactory to Lender and that the interr.t payable on the sums secured by 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 Borrowers successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
obligations under this MonQaRe and the Note.
if Lender exercises such option to accelerate, (.ender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period ~t 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 1R hereof.
Norr•Urtt>=oatK Covt=_NaHTS. Borrower and Lender funkier covenant and agree as follows:
18. Aceekratbs; Remedlts. E:ceps ss provided is paragraph 17 hereof. t+pos ~brrower's bseach d a¦r co•ewttN sx
rrgreewxwt of Itlorrower i• this Mortgage. isdudin6 the covenants to pay where doe asp sems seesred 6T stria MortRste. Levier
prior to accelentbs shaft m•Y suttee to dorrowcr as prorfdcd Is paragrsplr 14 hereof ttpecltrts~: (1) the btrcach: (2) the sxliow
i rtegohed to care sect btre•ch; (3) • dste. sot less thss 30 days from the date the notke r er•Bed to iorrewer. br whkb stst:b
bresch rM be eared: awd (4) that failure to care strcb breach os or before the date specYei iw the wotiee mar resell h
sccelerMiow of tYe ssaw secnred br fhb MortstrRe. rorecios•rc br judkw proceediw~ a.i Hale of lbe Ptnopcrlr. Tire wotice
shah farther istons )dorrower of the riRbt to reinstate ~tcr sccekrstio• and the right b erect h the foreclosert procesit8
lire won-a:Wesce or • deteN or Burr ahcr defeese of Borrower to •cceleraliar acrd foreebwre. N the 6reacY is sot cerei o~
or before the date specified b the wolke. Leader at Lender's oplbw msr declare ar at the strtws secwrei Y7' stria LMort~t dray
iswtedi•telr dse •wd prtrble wklast farther demand and mar foreclose this Mor1;:Re br jsdkW p~oeeedisR.
be estltkd to coYeet d swch proceeding d a:passes of foreclosere. isclodisg. but wot Ywdlei M. reasossblt sttursetr's ftlf.
trod costs of docu!~' e~idesce, abstracts sect tick reports.
19. 13orrowa's Rlglrl to Reinstate. Notwithstanding Lender's acceleration of the sums secutxd by th~~ Mongage,
Borrower shall have the right to have any proceedings begun by (.ender to enforce this Mongage discontinued at any time
a~~x 321 PacE ~6