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. Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums to the
manner provided under paragrsph.2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon, shall become additions)
indebtedness of Borrower secured by this Mortgage. Unless BorrpwCr anr) L~t+der agree to other terms of payment. such
amounts shall be paysbk upon entice from I.tttdtr to Borrower regtrestir4g payment thereof. and Shall hear interest from the
date of disbursement at the rate paysbk from time to time on attstanding principal under the Note unless pa~?rttettt o[ I
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate I
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
a;sy ate.:o^. l:~rcu^~r.
>R IwspecBow. 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 lhercfor related to I.ertder'a
interest in the Property.
9, Cowdewaatiow. 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 proceeds chall be applied to the stems 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 Leader
otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the prooceeds
as is equal to that proportion which the amount of the same secured by this Mortgage immediately prior to the date of !
taking bears to the fair market value of the Pro rt ~mmediatel ~
paid to Borrower. ~ y y prior to the date of taking, with the balance of the pt+ooeeds
If the Property is abandoned by Borrower, or if. after notice by [.ender to Borrower that the condemrar oRers to ttialte
an award or settle a claim far damages, Harrower fails to respond to Lender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds, at i-enders opCan, either to restoration or repair of 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 hereof or change the amount of
such installments.
10. llbrrower Nei Released, Extension of the time for payment or modification of amortization of the sums setetrred
by_this Mortgage granted by Gender to any cttCCessor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and &?rrower's successors in interest. Lender shall not be required to commence
proceedings against such successor or rcfttse 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 Borrower's successors in interest.
11. Forhearawce by bender Not a Wsive~ Any farhtarance by Lender in exercising any right or remedy hereunder, or i
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. t
12. Retrredies CtwwoWite. 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 concurrcntty, independently or successively.
13. Swccesaors asd AssiRws dousd; .loirrt sod Seved i3ability; Csptiows. The covenants and agroeanents herein
contained shall bind, and the rights hereunder shall incug 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 Mortgage arc for convenience only and arc not to lk used to
interpret or define the provisions hereof.
14. Notice. Except for any notice required under applicable taw to Ix given in another manner, (s) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to i~nder as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to fender's address stated herein or to
such other address as Lender may designate by notice ro Borrower s: 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.
lS. Uwitorw Mortgage; Goveroiwg Law; Seversbility. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute s uniform security instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
event that any provision or clause of this Mortgage ar the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Nate which can be given eBect without the conflicting provision, and to thk
end the provisions of the Mortgage and the Nate arc declared to be severable.
16. Borrower's Copy. Borrower shall be furnished a conformed copy- of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Trswder of t`e Troperty; Assumptioa. Tf all or any part of the Property or an interest therein is sotd or transferred
by Borrower without Lenders 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 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
rat containing an option to purchase, Lcnsicr iri.y, :t Lt,3er'z option, declare all the sums secured by this Mortgage to bt
immediately due and payable. Lender shalt have waived such option to accelerate if, prior to the sale or transfer, Lender
and the person to wtrom the Property is to be sold or transferred reach agreement in writing that the credit of each person
is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at attch rate as Lender
shall request. Tf 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
obljgations under this Mortgage and the Note.
ff Lenrkr exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance M•irh
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 fire suers 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 lg hereof.
Non-Untrortat Covtsnerrrs. Borrower and Lender further covenant and agree as fdlarvs:
li. Acceleration Rerwedies. lEutpt as provMed iw psragraph 17 Irereot, tr*ow •orrtiwers hrcacr of awy covewawt K
agreawewt of ltrrrswer tris More=age. iwchr~rrg tic cwewarfs /o ~wp whew dse say swwr sacwrsi y this Morgtsge. Lewder
prior to scaelerstlon dra/ wail wotlce to ljorr~uwer s proviAN Iw'sragraplt 11 hertol speei[ylwg: (1) lie Irresch; (2) the wetisw
retlwbei b case swch hraeh: (3) a sale, wet lad thew 30 dsys trove the dote ~c wotict b walled to Dorrrwtr. b' whkr sweh
ltreaelt wnwtt k ewr~ ar.i N) fiat twilrre is core swch hreseh ow or tretore the date sKeiiei r the wottce way ressk b
aecderafiow d lie tatar secured Ili fhb Mortgage. toreciosrrre h ji.dkiat procss~ awl sale of the 1'rn'crly. Tht wotfes ,
shaft fwriier idorw lior»wer at the right to MrWNe after seeekntbw swi err right to wren i• the torerlosrrne ~roceei¦g
tie worettiMewce d a ietawlt or spy other taetewre of >aorrorwer to acceleraWw atsi tarseioewa. H the breach is wet ewrei a
or before the taste s'eciiei it fit wotke. Lewder st I.ewAers oplow wq declare V d the ttrwws tteea+ei b fhb Mortgage b be .
i.t.retaialely tawt atri Payabae wkhowt ttwrlher demand awd way toreeioae this Mortgage by prseeediwtt. Lender dray
be eatMlai to cotieet tw saver proceediwg d t:'ewses of itttrcclostrrc. Iwclw_ tiwg. rwt vest iNrited ts. rewwaiic sttxweYs tea.
a¦tl costs of iscrweMary eddewt:e, sbstraets aver title repro.
1!. Rorrower's Right to Rdartate. Nalwithctanding Lender's acceleration of the sums secured by this Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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