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Leader's written agreement or applicable law. Borrower shall pay the amount of al! mortgage ittsurattce ptentiutns m the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to the paragraph 7. with interest thereon. shall become additional
indebtedness of •Barrower secured by this Mortgage. Unless Borrower attd tegi~r agree to other terms of payment, such
amounts shall be payable upon notice from Lender to Borrower requesting payment Cheroot, and shall bear interest from the
date of disbursement at the rate payable from time to time on alt:landing principal under the Note unless payenatt of
interest at such rate would be contrary to applicable law, in which event such amounts shall bt:ar interest at the highest rate
permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expotge or take
any action hereunder.
>L isspecties. 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 arch inspection specifying reasonable cause therefor retested to t.ettder's
interest in the Property. •
9. Cottdetttsstios, The proceeds of any award or claim for damages, direct a rnnsequential, in connection writh any
condemnation or other taking of the Property, or part thereat, or for caiveyance in lieu of condemnation. are hereby assigned
and shall be paid to 1-ender.
In 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 tender
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 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 proceeds
paid to Borrower.
If the Property is abandoned by Bor:wer, or if. after notice by Lender to Borrower that the condemnor ofiets to mate
an award or settle a claim for damages, Be?rrower 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 Lender's option. either to restoration of repair of the
• Property or to the wms secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall rtes 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.
1®. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any successor in intereu of Borrower shall ncu operate to tekase, 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 the Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Forhearawce hT Leader Not a Waiter, Any forbearance by Lender 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 LendePs
right to accelerate the maturity of the indebtedness secured by this Mortgage.
1L Retsedks Caraulafie, 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 succes:iveiy.
' t3. Soestissors sad AsstRas Booed: Joist acrd Serersl I.iabiWy; Captions. The covenants and agreements herein
contained shall bind. and the rights hereunder shall incug to. the respeMive successors and assigns of Lender spd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be join; and several.
The captions' and headings of the paragraphs of this Mortgage are for convenience only and an not to lie used to
interpret or define the provisions hereof.
14. Notice. Except-for any notice regained under applicable law to be given in another manner, fa) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certifed mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to i~nder u provided herein, and
(b) any nMicc to Lender shall he given by certified mail. return receipt requested. to t.ender'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 thin
Mortgage shalt be deemed to have been given to Borrower or Leader when given in the manner designated herein.
1S. UwNontt Mortgage: Gorersisg Law: Seversbpity. 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
teal 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 or the Nott conflicts with :pplicabk law. such conflict shall not affect
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 arc declared to be severable.
if. Borrower's Co*y. Borrower shall be furnished a conformed copy of tht Note and of this Mortgage :t the time
of execution or after recordation hereof.
17..Ttssder of tee Trorerty: Aswmptiat. 1f all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding test the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the crcat~on of a purchase money security interest for household appliances, (c) a transfer by devise,
descatt or by operation of law upon the death of a joint tenant or ld) the grant of any leasehold interest of three years or less
rat 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 v?•aived such option to accelerate if, prior to the sale or transfer, [.ender
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 inter~~ct payable on the sums secured by this Mortgage shall be at such rate as Lender
shall request. If Lender has waived the option to scale:ate provided in this paragraph 17, and if Borrower
s successor in
interest has exceuted a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obliyttions under this Mortgage and the Nate.
If Lender exercises such option to accelerate. Lender shall mail Borrower notice of accekntion in accordance v?•ith
par~raph 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 wms 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 arty remedies permitted by paragraph Ig hereof.
NotvUnteoat?t CoveNxr+TS. Borrower and Lender further covenant and agree as follows:
10. Acct4eratMtr Ressciles. B:ce}t ss porNed b pnpaph IT ht:rsof. rPa Bor»wes's tsssA of airy coressN or
sgreesreat of Borrower is tlds MottBage. lselsibrg the eoresasts to MY wires ise sq star stetseed try This Mort~e. i.esier
peter w acteieraflrw ahsB rsaY ttotlce to >ionOwer as prorNed M Nragrspr 14 htxeol tPeeK~s (1) tfe iseseh: f21 the sttMs
selairetl M care wch Mr;seh; (3) s 4sle, slot less tha 3• days trots the date the tteNiee r ttttttk! N Borsewer. fi)r whkh such
breach tttttst hs nt+sr~ asi N) that faiiste to nee such Meech os K refore the date apeefBai M the ttodee stay resttk is
st.~aWtt o[ t!e rotas aet:stsr ~ this MortgaRt, Io~eclossrr b jtt/IcW tr+oeedlsg atttl ask et the h~aperty. Tfte tttrtlere
shall further Nora )serrswer of the right to rehrstMe after sceekrdios sttd the right b area M the terteissttre ptec~eeittg
the soasslrltbtee of a iefask or arty other defare of Borrower to secek:atlos attd toreetoartre. R the Meseit r ttN caret eft
or tdore the dale speeMei r fire ttotke. i.ew4er st 4.esder's o'tbs ttrq deeiaee r o< fee war ssetMr<r iy this Mottpge is k
isntedfaidy disc aoi fsyaMr c.ithottt teethes demand aw0 tray taselose tftis Message b 1~W r'K«~tt1e. Tender shag
.its a~stlgs+i a co~Beet fis stteh ptoeosd6ts sB es'esses at foreciowtt. iscitt4itrg. Met ttN Btttkod M. sesssrtsMe stturseYs fees.
asi cash of doetttweMary erNesee, aVtrscb stt4 title r+eptb.
11. Bsrrswa's Rkht to ReisMate. Notwithstanding Lender
3 aooeleration d the stun: secured by thr_ Mortgage,
Borrower :hall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any tithe
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