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Lender's written agn:emcnt or appli~ahlc law. Bormwer shall pay the amount of all mortgage insur;mcc premiums in the
manmr provide. under paragraph 2 hereof.
Am• amounts dichurxd by Lender pursuant to this paragraph 7. with artcrcct thereon. shall become additional
indeMcdness of Burro++rr secured by Chic Mortgage. l.'nless Borrower and I en.ler ;+gree to other terms of payment. such ~
amounh shall he payable ulx~n n+aicc from Lcndcr to &~rmwer requesting pa)•ment thereof. and shall hear interest from the
date of di.hurccment at the rate payable from time to time on outstanding principal under the Note unless payment of
intereu at such rde would t+e contrary to applicable L•+w. in ++hich event such amounts shall tzar interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lcndcr to incur am• expense or take
any action hereunder.
8. Inspection. lender may make or cause to t+e made reasonable entries ulx~n and incpectionc of the Property. pmvided
that Lender shall gi+•c Borrower notice prior to at»• such inspection specifying reasonable sauce therefor related to Lender's
interest in the Pmpcrt)•. ~
9. Condemnation. The pn*ceeds of am• award or claim for damages, direct or consequential. in rnnnection with any ;
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. arc hereby assigned i
and shall he paid to Lcndcr. +
In the event of a total taking of the Property. the proceeds shall he applied to the toms secured M• this Mortgage. '
with the excess. if am•. paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lender
otherwise agree in writing. them shall he applied to the sums secured by this Mortgage such proportion of the proceeds 1
as is equal to that pia.purtion which the amount of the sums secured M• this Mortgage immediately prior to the date of
taking bears to the fair market value of the Properly immediately prior to the date of taking. ++ith the balance of the proceeds
paid to Borrower. ~
Tf the Property is abandoned b)• Bormwer, or if. after notice by I ender to Borrower that the condemnor offers to make i
an award or settle a claim for damages. Bormwer fails to respond to Lender within 3(1 days after the date such notice is
maileJ. i.ender is authorized to collect and apply the proceeds. at Lender's option. either to restoration or repair of the
Property or to ehe sums secured by this Mortgage_
Unless Lender and Bormwer other++•ice agree in writing. any such application of proceeds to principal shall not extend
or poctlx~ne the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or chance the amount of
such inst:.llrtent~.
10. Borrower blot Released. Extension of the time for payment or modification of amortization of the sums secured
by this Morteage granted by Lcndcr to any successor in interest of Borrower shall not operate to release. in any manner.
the liability of the orieinal Bormwer and Borrower's successors in interest.. lender shall not he required to commence
pnx:eedings against such successor or refuse to extend time for payment or othen+•ise modif}• amortization of the sums
secured by this Mortgage by reason of any demand made by the orieinal Bormwer and Borrowers successors in interest.
11. Forbearance by Lender Nnt a Waiver. .4m' fortx:arance by Lender in exercising any right or remedy hereunder. or
otherw•isc afforded h)• applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
The prcxurcment of insurance or the payment of taxes or other liem or charges by lender shall not he a waiver of Lender's
right to accelerate the maturity of the indebtedness secured he this Mortgage.
12. Remedies Cumulative. All. remedies pmvided in Ihic \lortgage are distinct and stimulative to any other right or j
re_medt• under this Mortgage or afforded by law or cyuit)•.:+nd mar he exerciud coneurrcnth•. independcnlh• or succcssiveh•. ~
13. Successors and Assigns Bound: ]oint and Several Liability: Captions. The rns•enants and agreements herein
contained shall hind. and the riehtc hereunder shall inure to. the respective succescc.rs and assigns of Lcndcr :+nd Borrower. ,
subject to the pn.+isiom of paragraph 17 hereof. All covenants and agreements of Bormwer shall be joint and several.
The captions and headings of the paragraphs of this 1?lorteage arc for convenience onl)• and arc not to Fxr used to
interpret or define the provisions hereof.
~ la. \otice. Except for any notice required under applicable law to be given in another manner. fa) any notice to
j Borrower provided for in this Mortgage shall he given by mailing each notice M• certified mail addressed to Bormwer at g
the Propem• AJdress ar at such other address as Barn.w•er may desicn:ue by m~ticc to tender as pmvided herein. and
~ Ihl ant notice to 1_ender shall he given by certified mail, return receipt requested. a. 1 ender s address stated herein or to
wch other address as l.endcr may designate by notice to Borrower as pm+idcd herein. :1n)• notice provided for in this
Mortgage shall he deemed to hate been given !o Borrower or 1 ender when given in the manner designated herein.
15. l.'niform 11ortlage: Governin¢ Law: Severobilify. This form of mortgage combines uniform covenants for national ~
use and non-uniform a+scnanls with limited s•ariatium M' jurisdiction to constitute a uniform security instrument covering
real pmpert)•. This Mortgage shall be governed M• the law of the jurisdiction in which the Property is I+.cated. In the
event that am• provision or clause of this Morigage rr the \ote conllicts with :+pprcahle law. such conflict shall not affect
other pro+isions of this Mortgage or the \{ote which can he given effect without the conflicting pm+•ision. and to this
end the pmcisiuns of the Mortgage and the \ote arc declared to Fxr severable.
16. Borrower's Cop.. Borrower shall hr furnished a conformed copy ul the Note and of this hlortgagc at the time
of execution or after recordation hereof.
17. Transfer of the Property: Assumption. If all or any p.+rt of the Propert)• or an interest therein is sold or transferred i
by Borrower without Lender's prior written consent. excluding ta? the creation of a lien or encumbrance subordinate to _
thi, Mortgage. Ihl the creation of purchase monr+ .ecurits interest for household appliances. Ice a transfer by devise.
descent or M• operation of law upon the death rf joint tenant or td+ the Grant of any leasehold interest of three years or less }
not containing an option to purchase. Lcndcr mac. at Lender's option. dcZL•+re all the sums secured h)• this Mortgage to be
immedi:dch• due and pa)•ahk. 1 ender shall hale waiscd su:h option to accelerate if, prior Io the sale or transfer. Lender
and the person to whom the Property is t.. hr solJ or transferred mach agreement in writing that the credit of such person
is satidactary to Lcndcr and that the intcre.t pacahle on the sums se.urcd by this Mortgage shall t+e at such rate as Lender
shall request. If lender has waived the option to acccler.+te provided in this paragraph 17. and if Borrower's successor in t
intrrcct has executed a written assumption agreement accepted in writing by t.cndcr. Lender shall release Borrower from all
l obligations under th+s Mortgage and the Note.
- If I ender exercises such option to accelerate. I ender shall mail Borrower notice of acceleration in acrnrdance with
• paragraph 14 hereof. Such notice shall provide a period of not Icss than 31t days from the date the notice is mailed within •
which Borrower may pa) the sums declared due. It Borrower folk u, pay such sums prior to the expiration of such period.
Lcndcr may, without further notice or demand on liormwcr. n+s•okc am' remedies permitted M• paragraph 1 R hereof.
Nox-U>`tFOtet<t COS'EVA\TS. Borrower and Lender further covenant and agree as follows:
18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this 3iortgage, including the covenants to pay when due am• 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 days from the date the notice is mailed to Borrower, by which such
breach must be cured; and (4) that failure fo cure such breach on or before the date specified is the notice may result in •
acceleration of tbt sums secured by this Mortgage. foreclosure by judicial proceeding and salt of the Property. The notice
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 defauk or any other defense of Borrower to acceleration and foreclosure. If the breach is aot cured on
or before the date specified in the notice. Lender at [.ender's option ma)• declare all of the sums secured by this Mortgage to bt
immediately due and payable without further demand and may foreclose this ~lortgagt by judicial proceeding. Lender shall
be entitled to collect in 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. Borrowers Right to Reinstate. tiotwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have am proceedings begun by Lcndcr to enforce this Mortgage discontinued at any time