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Lender i 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 Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
amounts shall be payable upon notice from 1_ender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from 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 bear 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. Inspection. fender map 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 therefor related to Lender's
interest in the Property.
9. Condemnation. 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 !.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. to the event of a partial taking of the Property, unless Borrower and Lender
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 b}• Borrower, 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 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 or repair of the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing. an}• 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. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secttlred
by this Mortgage granted by Lender 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 h)• reason of any demand made by the original Borrower and Borrowers successors in interest.
11. Forbearance by Lender riot a Waiver. Any forbearance by lender in exercising an}• right or remedy hereunder, or
othervvise 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. _
12. Remedies Cumulative. 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 successively.
13. Successors and Assigns Bound; Joint and Several !.!ability; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower,
:object to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be 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 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 ma}• designate by notice to i_ender as provided herein, and
(hl an}• notice to Lender shall he given by certified mail, return receipt requested, to !.ender s address slated herein or to
such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
~torigage shall be deemed to have been given to Borrower or l.cnder when given in the manner designated herein.
15. Uniform 1?tortgage; Governing I.aw; Severability. This form of mortgage combines uniform covenants for national
use and non-uniform rnvenants with limited variations h}• jurisdiction to constitute a uniform security instrument covering
real propert}•. 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 Note conflicts with applicable law, such conflict shall not affect
other pnnisions 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 tiote are declared to he severable.
16. Borrower's Copy. Borrower shall be furnished a rnnformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof. .
17. Transfer of the Property: Assumption. If all or an}• part of the Property or an interest therein is sold or transferred
h}' Borrower without Lender's prior written consent. excluding (a1 the creation of a lien or encumbrance subordinate to
this Mortgage. (h) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
descent ur by operation of law upon the death of a joint tenant or (d? the grant of an}• leasehold interest of three years or less
not containing an option to purchase. Lender may, at I_ender't option, declare alt the sums secured by this Mortgage to be
immediately due end 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 sold 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 pmvided in this 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
.~hligations under this Mortgage and the Note.
If i_e~~der exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not Iesc than 30 da}•s from the date the notice is mailed within
which Borrower ma}• pay the sums declared drre. If Borrower fails to pay wch sums prior to the expiration of such period,
!.ender may. without further notice ar demand on Borrower. im•oke anc remedies permitted by paragraph I R hereof.
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NO~r-UPrIFORbt COVF~.+~TS. Borrower and Lender further crnenant 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 ~tortga„e, including the covenants to pay when due an}• sums secured by this Mortgage. Lender
prior to acceleration shall mail notice to Borrower as pro~~ided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure such breach; (3) a date. not less than 30 da}•s from the date the notice is mailed to Borrower, by which such
breach must be cured: and (4) That failure to cure such breach un or before the date specified in the notice may resdt in
acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Borrower of the right to reinstate after acceleration and tht right to assert in the foreclosure proceeding
the non-existence of a default or an}• other defense of Borrower to acceleration and foreclosure. If the breach is not cured on
or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this Mortgage to be
immediately due and payable without further demand and may foreclose this Mortgage 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 etiidence, abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
Borrower shall have the right to have an}• pra:eedings begun by Lender to enforce this Mortgage discontinued at any time
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