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Lender's written agreement or applicable law. Borrower shall pay the amount o[ all mortgage insurance premiums in the
manner provided under paragraph 2 heron[.
Any amounts disbursed by !.ender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and !.ender agree to other terms of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment theteof..at>d shall bear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under the Note unless pa`ytrrent of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest raft
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expetrte or take
any action hereunder.
lnspeetion. Tender 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 Lenders
interest in the Property.
9. Condentwation. The proceeds of any award or claim for damages, direct or consequential, in eonnoction with any
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 Tender.
Tn the event of a total taking of the Property, 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 Ltntder
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the procoed:
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 pt+oceods
paid to Borrower.
Tf 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 alter the date such notice is
mailed, Tender 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 Mortgate.
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 hereof or change the amount of
su"h installments.
10. borrower Not Released. Extension of the time for payment or modification of amortization of the sums socurtd
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 comrrrerrce
proceedings against such successor or refuse to extend time for payment or otherwise modify amortintion of the sums
secured by this Mortgage by reason of •rny demand made by the original Borrower and Borrower's successors in interest.
11. Rorbearasce 6y Lender Not s waiver. Any fofiearance by Lender in exercising any right or remedy herctrttder, 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. Rertscdks Camnh~e. All remedies provided in this Mortgage arc distinct and cumulative to any other right of
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
13. Sneceasors awd AssiRss bound:.Ioiat sed Several T.iabiBry; Captious. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inttr~ to, the respective successors and assigns of Lender acrd 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 this Mortgage arc for convenience only and are not to be 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 certifled 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
i (b) any notice to Lender shall he given by certified mail. return receipt requested. to tenders 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: Gorernisg Law: Sevenbility. This form of mortgage combines uniform covenants for natiaul
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. Tn the
` event that any provision or clause of chic Mortgage or the Note conflicts with applicable law, such conflict shall not affect
j .other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be 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..Trsoder 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 written consent. excluding (al the creation 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 arch option to accelerate if, prior to the sale or transfer. Lender
~ and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person
8 is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
t interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obli4ations under this Mortgage and the Note.
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance s.•ith
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. Tf Borrower fails to pay such sums prior to the expiation of such period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph IR hereof.
NON-UNIFORM COVENANTS. BOfrO'WCr and Ltndtr further covenant and agree as fOllarrs:
1>i. AcceierttRion; Remedies. Except ss provided se pragraph 17 herrot. tspon borrt?wers br+eaeh of ..y corensst K
agreement of borrower b this Mortgage. btititrdirrg the covenants to py when doe ray sttrss treeared b this MotNgtnge. !.ender
ptrior b seeelersUon sbtrb retail ttwtke to borrower as provided h paragraph 14 Hereof ttpeeltyfng: (1) the 6resch: (2) the ttKtion
rgdretl b ettue cash btresch; (3) • tLte, toot less than 30 days trorn the late the notice V ttttafle~ to borrower. h7' whkh sneh
i hresch mrrst be crud; gad (4) shat faibre to care such hresch ow or before the dMe specified In the ratke rarer resrrM hr
aecekratfott of the stutrt sectts~ed br tW Mortgage. toreebssn by jrtdkW proeeedirtg acct! tale of the frr+oparty. 71re notice
shah brther Gtfatt borrower of the right to treirtstate after sccelerstiow and the right b trot h the fortiebtwrs proeteig
~e awarexlsteace of s defstrk or any other defense of borrower to ncceleratlon atsd toralowre. H the breach fs trot erued a
or before the date specYett b the notice, Lender at Lender's oplbn tray declare si of the carat teesrsd by this MortgaRt t+s M
iawedistdy tfttre aani pytubie •rifhorrt ttrrther dernand and rosy foreclose tb4 Mortgage by jriicW proceeding. Lender shag
be entltled to eobttet 4r such proctedirK d e:pettses of foreclosure. htehsiing. brN rret YaNeJ to, reasonable stlurneY's feu.
~ astd eostt of doc`.~seNary evidence. abstracts asrti tick rcprb.
1 1!. borrswa's Right t! Reitsstate. Notwithstanding Lenders scceleration of the sums secured by this Mortgage,
Borrower shalt have the right to have any proceedings begun by Lender to enforce this Mongage discontinued at any time
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