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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums m the
manner provided under paragraph 2 hereof.
Any amounts disbursed by lender .pursuant to this paragraph 7, wish interest thereon, shall txcome additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Gender agree to other temps of payment, such
amamts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bta~ interpt•Crpm the
daft of disbursement at the rate payable from time to time on artstanding principal under the Note unless pa~rmertt 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 tender to incur any experae or take
any action hereunder.
>i, Irtspeetiow. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
shat lender shall give Borrower notice prier to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Cortdemaation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of lht Property, ur part therc~~f, or fur cunveyanct in Lieu of condemnation, art hereby auegned
• and shall be paid to Lender.
In the evens of a total caking of the Pra forty. it•„, proceeds ;t:atl be ap,~licd to the stems sec:ered by this Mcutssge,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
otherwise agree in writing. there shall be applied to the gums secured by this Mortgage such proportion of the proceeds
as is equal to that proportion v.~hich the amount of the sums secured by this Mortgage immediately prior to the date o[
taking bears to the fair market value of the Property immediately prior to the daft of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned by Bor;ewer, or if. after notice by I_endcr to Borrower that the con_ demnor offer to make
an award or settle a claim for damages. Borrower fails to resiond to lender within 30 days after the date such notice a
mailed, Lender 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 Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shag not extend
or postpone the due dale of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments,
16. aorrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by I_endtr 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 refuse 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 successor in intercu.
11. Forbearance hl' Lender Not a Walrer, Any forbearance by Lender in exercising any right or remedy hereunder, or
othtnvise afforded by applicable law, shall not tx a waiver of or preclude the exercise of any such right or rarredy.
The procurement of insurance or the payment of taxes or other liens or charges by [_ender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness stcurcd by this Mortgage.
12. Reraedles Cnatnhtti?e. Ati 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 sucots:ively.
13. Successors dad dwrnd; ,Joint sad Seved i.iablBty; Captious. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inrrr~ to. the respective successors and assigns of Lender attd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joirtf and several.
The captions' and headings of the paragraphs of this Mortgage are for convenience only and arc not to tie 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 ratite to
Borrower provided for in this Mortga¢e 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 Lender as provided herein, and
(b) any notice to Lender shall be given by certified mail, return receipt requesttd. to Lender's 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 txen given to Borrower or Lender whin given in the manner designated herein.
lS. Uuifona Mortgage: Governing Lsw; Severability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage steal! be governed by the law of the jurisdiction in which the Property is located. In the
event that any provision or clause of Ihic Mortgage or the Nott conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note which can be given eBect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severablt.
If. Dorr+ower'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..Trswder of the Property; Assumption, Tf all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the crcatron 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 such 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
~ ~ 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
interest has executed a written auumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
if Lender exercises such option to accelerate, Lender shall mail Borrower notice of accekntion in accordance s.•irh
paragraph 14 hereof. Such notice shall provide a period of rat less than 30 days from the date the notice is mailed within
which Bs}rrowtf rttay pay the sums declared due. If Borrower tails to pay such sums prior to the expiation of such period,
Lander may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1 R hereof.
NoN-UKIFOnbt CovEIYANrs. Borrower and Lender further covenant and agree as follars:
ls. Acceleration; Rcaxdks. Except as provided lw psrrtgraph 17 hereof. upu iorrrawer's Mead of awr covasaut or
agrceuseut of lorrower b this Mort~e, iueluaiug the covcusats to par when sue our wtrto st:ewrea b this Morl~e. ti.ewder
prrior to seeeltrNlow shat maq wotict to Borrower as rrovlded V paragrtplr 14 bereot specitrl~: (1) tie Meath; (2) the setiow
rquM~ea b cure wcfa breach; (3) a dale, wet less than 30 days tr+om the date the ttwdce r maAea to dorrawer. by whki such
M+t~clt mart M: cured; awd (4) that testate to cure such breach ow or ttetore the date gtxliied b the wotke war resole h
wecekrMkw of the wares ttcctnrcd br the: Mortgage. foreclosure Irr judkW proeeeaht~ awes sale of the Tro'erry. The uotict
a1raM further Mform Borrower of the riglK to reitMste titer aeceleratlow awes the right to amen iw the tor+eeksrtre *roeeeirrg
the wow•e:istewce d u detaak or tt¦r oNrer defewse of sorrower to aecekrafbw sea foreclowrc. H the Mrxh 1a wet cwrca aw '
or before the Gale specKea i• the! rrotiee. Lewder at tender's ortbw war dtxlanc d of the wma stewrea by this MoAgagti !s 6e
immediately due turd parable wtlhoN further demand dad oar forccloae this Morttttge br jaakW proaedin~. Ltridsr shah
he etutltlea to co8eet b tttxh proceeding se a:peases of foreclosure. iwciudiq. teat dot 1lrtdtstl M. rtaaowuiic sttvrner's ftss,
and eoota of ioca•~ary eridetnce, abstracts dad tick KPo+t+•
lf. /onowp's Right to ReWtate. Notwithstanding 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
~~(~32fi•.gd~~ 55~ ~t~~324 F~~f~.04
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