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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of &xrowcr secured by this Mortgage. Unless Born~wcr and tender agree to other terms of payment, such
amounts shall be payable upon notice fmm Lender to BArrowe_r requesting payment thereof. and shall hear interest from the
date of disbursement at the rate payahle fmm time to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amounts shall hear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
8. lnspecfion. 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 am• such inspection specifying reasonable cause therefor related to fender's
interest in the Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or rnncequential, in connection with any
condemnation or other taking of the Property, or pan thereof, or for conveyance in lieu of condemnation, arc hereby assigned
and shall he paid to I_endcr.
In the event of a total taking of the Property. the prex:eedc shall he applied to the sums secured by this Mortgage. '
with the exceu, if any, paid to Bormwer. In the event of a partial taking of the Property, unless Borrower and Lender
otherwise agree in writing. there.shall he applied to the curds secured M• this Mortgage such pmlx~rtion 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 hears to the fair market value of the Pmpcrtc immediately prior to the date of taking. with the balance of the- proceeds
paid to Borrower.
if the Property is abandoned M• Bormwer, or if. after notice by Lender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower fails to respond to Lender within i0 days after the date such notice is
mailed, Lender is authoritcd to collect and apply the proceeds. at lender c option. either to restoration or repair of the
Property or to the sums secured by this Mortgage
Unlrs. lender and Bormwer otherwise agree in xwriting. am• such application of proceeds to principal shall not emend ,
or postpcme the due date of the monthh• installmems referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Rorrowrrr Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by lender tc• am• successor in interest of Bormwer shall not operate to release, in any manner.
the liability of the original Borrower and &•rmwer's successors in interest. lender shall not he rcyuirrd to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify am~~rti-ration of the sums
secured by this Mortgage M• reason of and' demand made hx the nrieinal Borrower and Borrowers successors in interest.
11. Forbearance by lxnder Not a Waiwer. Ans• forbearance M• Lender in exercising anc right or remedy hereunder, or
otherwise afforded by applicable law, shall not I?e a waiver ~f or preclude the exercise of am• such right or remedy.
The procurement of insurance or the pavment of taxes or other liens or charges by Lender shall not he a waiver of l-ender',
right tc. accelerate the maturity of the indebtedness scrurcd by this Mortgage.
12. Remedies Cumulative. All remedies provided in this htort¢age arc distinct and cumulative to any other right or
remedy under this !Mortgage or afforded hx• law or equity. and may he exercised concurrenth•. independenth• or successively.
13. Successors and Assigns Bound; Joinl and Seweral f.iabilih•; ('aptions. The cox•enanls and agrecmenK herein
contained shall hind. and the rights hereunder shall inure to. the respective successors and assigns of Lcndcr and Borrower.
subject to the pros•iciom of paragraph 17 hereof. .All covenants and agreements of Borrower shall he joint and several.
The captions and headings of the paragraphs of this Mortgage arc for cam•enience only and are not to he used to
interpret or define the provisions hereof.
14. Nolice. Except for any notice required under applicable law to he given in another manner. fa? any notice to
Borrower provided for in this Mortgage shall tx given M- mailing wch notice M' certified mail addressed to Borrower at
the Property Address or at such other address as Bormwer max designate by notice to lender as provided herein. and
Ihl anv notice to 1-ender shall txr given by certified mail. return receipt requested. to 1 ender', address stated herein M to
such other address as lender may designate M notice to Bormwer as pr.wided herein. :~m• notice provided for in this
" Llortgagc shall he deemed to have been given to Borrower or Lender when given in the manner designated herein.
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uniform Mortgage; Governing i_aw; Secerability. 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. The
state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. The foregoing
sentence shall not limit the applicability of federal law to this mortgage. In the event that any provision or clause of this Mortgage or the
Note conflicts with applicable law, such conflict shall not affect other provisions of this Mortgage or the Note which can be given etTect
without the conflicting provision, and to this end the provisions of the Mortgage and the Note are declared to be severable.
16. $orrower's Copy. Borrower shall be furnished , a+nh.rmed copy of the Note and of this ;Mortgage at the time
of execution or after rerurdatiun hereof-
17. Transfer of the Propertw: Assumption. If al! r+r ;u+v part of the Propert}• or an interest therein is c.+ld or transferred
by Bormwer without Lender's prior written concenr. exciudin}: ia? the creation of a lien or encumbrance subordinate to
this Mortgage. Ih1 the creation of a purchase money cecurin- interest fnr household alipliances, tc1 a transfer hw devise.
descent ar by operation of lazy upon the death of a joint tenant or Ids the grant of anc leasehold interest of three years or less
not containing an option to purchase. Lcndcr max,. at I ender', ~+ptiun. declare all the-sums secured M• this Mortgage to he
imntediateiy due and payable. lender snail have waived arch option to accelerate if, prior to the sale or transfer. i.ender
and the person to whom the Property is to he sc+Id or transferred reach agreement in writing that the credit of such person
is saticfarton• to I.cnder and that the interest payahle on the sums ,reared hw this :Mortgage shall be at such rate as Lender
shall request- If Lender has waived the option to accelerate provided in Chic paragraph 17. and if Borrower's successor in
~ interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
~ obligations under this Mortgage and the Note'
If Lcndcr exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in acrnrdance with
paragraph 1~3 hereof. Such notice shall provide a period of not less than ?(1 dacs fmm the date the notice is mailed within •
which Borrower may pay the sums derLuecl dux If Brrrowrr fails to pay such sums prior to the expiration ~+f such period.
lender may. withSsut further nt!!ire nr c!e^t2r?d :+r. Itt+rr,11l•_r, ~ny~~le ;na remodr.~c rnr;(tn,l ?.a• or-.or3nF~ IR F~~.r£L~f.
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~ Nom-L'wttorext t:'ovrw.xvrs. Borrower and 1 ender further covenant and agree as follows:
r 18. Acceleration; Remedies. Except as prowided in paragraph 17 hereof. upon Borrower's breach of any covenant or
agreement of Borrower in this ~1fortRaRe, including the cowenants to pay when due any sums secured by this NortRage, Lender
~ prior to acceleration shall mail notice to Borrower ac provided in paragraph 14 hereof specifying: (1) the breach; l2) 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 l4) that failure to cure such breach on or before the date specified in the notice may result in
acceleration of the sums secured by this 11ortRage, foreclosure by judicial proceeding and sate of the Property. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceedirrf;
the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. if the breach is not cured on
3 or before the date specified in the notice, lender at Lender ~ option may- declare all of the sums secured by this ~foriRage to be
~ immediately due and payable without further demand and may foreclose this ~fortRage 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. Borrower's Rif{ht to Reinstate. tiotwithstanding Lenders acceleraucm of the sums secured by this Mortgage.
I Borrower shall have the right to have am pmceedmgs F+ecun hs Lender to enforce thrs Mortgage discontinued at any time
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