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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 dishrrrsed by Lender pursuant to this paragraph 7, with interest ,ttr~reon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Linder agree to other terms of payment, such
amounts shall be payable upon notice from Lender 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 urtkss payment of
interest at such rate would tie 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 1_ender to incur any expense or take
any action hereunder.
>Z, Islspeefiow. 1_ender maY make or cause to t+e 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. Coadewnation. 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, arc 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 Lender
otherwise agree in writing. there shall lx applied to the sums secured by this Mortgage such proportion of the procads
as is equal to that proportion which the amount of the sums secured by this Morigagc immediately prior to the date of
taking tzars 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:ower, or if. after notice by 1_ender to Bormwer that the condemnor offers to make
an award or settle a claim for damages. Bormwer fails to rec~ond to Lender within 30 days after the date such notice is
matted, Lender is authorized to collect and apply the proceeds. at lender i 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 shall not extetrd
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 secured
by this Mortgage granted by lender to any succecs.,r in interest of Borrower shall not operate to release. in any manner,
the liability of the original Borrower and &~rrowcr'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 Borrowers successors in interest.
I1. Rorbearaace 6y Lender Not a Waiver. Any fortxarance by lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law. shall not he a waiver of or preclude the exercise of any such right or rerrredy.
The procurement of insurance or the payment of tares or other liens or charges by lender.shall not be a waiver of Lsnder's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
1Z. Remedies Comulati~e. 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.:?nd may tx exercised concurrently. independently or successively.
' 13. Ssrecessors and Assigns Bound: ,loins aced Several i.iabiNty; Captiows. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender aced 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 art not to tie used to
interpret or define the provisions hereaf.
14. Notke. 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 ere given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Bormwer may designate by notice to lender as provided herein, and
(b) any notice to Lender shall be given by certified mail. return receipt requested. to tender's address stated herein or to
such other address as Lender may designate by notice to Borrower as provided herein. Any ratite provided for in this
Mortgage shall be deemed Io have been green to Bormwer or Lender when given in the manner designated herein.
1S. Wniforw Mortgage; Governing Law; Severability. This form of mortgage combines uniform rnvenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
j real properly. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
event that any provision ar clause of chic Mortgage ~r the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Neste which can tx given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severable.
16. aorrowets Copy. Borrower shall be furnished a conformed cop}' of the Note and of this Mortgage at the time
of executan or after recordation hereof.
17. ,Trs?nder of the Property; Assumption. If all or any part of the Pmperiy or an interest therein is sold or transferred
t by Borrower without Lender's prior wrincn consent. excluding la) 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
s not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Morigagc to be
immediately due and payable. Lender shall have w:uved such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is ti. be .oIJ 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 ere at such rate ac Lender
shall request. Tf Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower i successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower frcxn all
obljiations under this Morigagc and the Nate.
if Lender exercises such option In accelerate. lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the tatice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay sack sums prior to the expiration of such period,
Lender may, without further notice or demand on Harrower. invoke any remedies permitted by paragraph 18 hereof.
x Note-UNIFORM CovE[YANTS. Borrower and Lender further covenant and agree as follows:
18. Accderatbw; Rewedia. E:ceps w provided is paragraph 17 hereof, opow )sonowds breach of awe cove¦arrt er
E agreeme¦t of Borrower V ebb Mortgage, brcltrditsg the coveaawl: to par whew isK ter sows secured by this Mortgage. Lewder
prbr N acceleraUow snap wail wotke to Borrower as provided Iw partrgryb 14 hereof specMrl¦g: (1) the brewch: (2) the rxtiow
rgrrlred b tare s¦ch brrewch; (3) a ds~c, rat less than 30 days Irorw stir date the wofke b ttssBei to >jerrower. by whkh such
breach west be trued; awd (4) that faH~re to care ranch breach on a before stet date tpccllled br the wotke way resets h
5 secderaffow of the sawss oeeruted br thb Mortgage. foreclosure br jodkW proesedhrg sari sale of the rropertr. Tire wotke
shay brthcr idorw lorrower of the right to reinstate titer sccekMbn sad the right to assert iw the foreclosure procee~dinrg
the worexbtewce of a default or aurr other defense of Borrower to accckrstiow and torrrclosare. It the breach b cwt cored aw
or 6dore the date spceiied b the wotice. Lender at Lender's option near dcchrc s• o/ the saws see¦red br this Mortpge to be
iwwedjatelr tine awl-Arable without farther demand and mar foreclose fhb Mortgage br jrrdkW proceedlaR. i.ender drab
be eNtded to collrel h such proceediu= ap expenses of foreclosure, latludiwg, beet wet Wrrifd tv, reasonable sn.,rner's fags.
awd oohs of doer:!¦ewtarr eridewee. abstracts and lick reports.
t 19. Isorrowa's p'.Ight to Reiwstate. Notwithstanding Lenders acceleration of the sums secured by thr_ Mortgage,
Borrower shall have the right to have any proceedmgf begun by Lender to enforce this Mortgage discontinued at any time
BOOK 327 P~~E 2655
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