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Lender's written agreement or applicable law. Borrower shall pay the amount o[ 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 Lende~.ggpet: to other terms of payment. such
amounts shall be payable upon notice from Lender to Borcower 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 pa}?tnettt 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.
it. Inspection. lender may make or cause to he made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prior to any such insp~:tiun specifying reasonable cause i'nereior rciaied to Ler~er's
interest in the Property.
9, Condewnation. 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 Lender.
In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by tha Mortgage,
with the excess, if any, paid to Borrower: In the event of a partial taking of the Property, unless Aorrower artd 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 sumc secured by this Mortgage immediately prior to the date of
taking burs to the fair market value of the Property immediately prior to the date of taking, with the balantx of the proceeds
paid to Borrower.
If the Property is abandoned by Borrower, or if. after notice by lender to Borrower that the condemnor oQers to make
an award or settle a claim for damages, Borrower fail. to respond to Lender within 30 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds, at fender's option, either to restoration or repair of the
Property or to the sumc secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writtn~e, any such application of proceeds to principal shall not extend
or postpone the due dale of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[
such installments.
19. 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 interest of Borrower shall not operate to release, in any manner,
the iiabiiity of the original Borrower and &.rrower's successors in interest. Lender shaft not be required io commerwe
proceedings against such successor or refuse to extend time for payment or otherwise modify amortintion 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 by Leader Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, sh511 not he a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of tares 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. Rewedks C~rnuhtf~e. All remedies provided in this Mortgage arc distinct and cumulative to .any other right or
remedy under this Mortgage or aBorded by law or equity, and may be exercised concurrently. independently or successively.
' 13. Snecesrors gad Assigns Bound; ,Joint gad Seved I.iabiiUty; Capfioas. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inttrp to, the respective successors and assigns of Lender atad.Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joird and several.
The captions and headings of the paragraphs of this Mortgage arc for convenience only and arc not to tie used to
interpret or define the provisions hereof.
11. 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 dher address as Borrower may designate by notice to Lender as provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to Lenders 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 been given to Borrower or Lender when given in the manner designated herein.
~ 1S. Uaifontt Mortgage: Gover.i~ Law; 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 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 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 are Declared to be severable.
l 16. Borwwer'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..Trander of the Tro'erty; Assumption. if all or any part of the Property or an interest therein is sold or tnnsferrcd
t by Borrower without Lenders prier written consent. excluding lal the creation of a lien or encumbrance wbordinate to
this Mortgage, (b) the crcatton of a purchase money security interest for household appliatwes, (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 v?•rived such option to accelerate if, prior to the sale or transfer, Lender
and the person to whom the Property is to be co1J or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the inten-ct payable on the sums secured by this Mortgage shall be at stxh rate as Lender
shall request. 1[ Lender has waived the option to accelerate 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
oblijations under this Mortgage and the Note.
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordartcti N•ith
paragraph 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 sums declared due. if Borrovcr (ails to pay such sums prior to the expiration of such period,
Irndrr rosy, without further notice or demand on Borrower. invoke any remedies pernnitted by paragraph 18 hereof.
Not+-Ur+tt=atwr CovFtverrrs. Borrower and Lender further covenant and agree as folbws:
lfl. Aceeieration; Rernedia. Ettcept st provided in prageapi 17 hereof, Roo Borrower's breaelt of try eovtisnret K
agreeset+t of Borrower b tiro Mortgage. brelnditrg the covetuMs to py where toe troy sorrts secured y tftis Mortgage. Lender
prior a aeeeieratlon ail mail aMice to Borrower as provided b pragrapU 14 iertof speelfyiR: (1) tbt Macs: (2) the action
rgoMed b care ssei Macs; (3) a date, cot lest than 30 days trove tie dale tie notice r ttno0ed M Borrower. icy wfnki toast _
fl~reati wtrst ftie ettsrd; and N) tial failure to core srrcM breach on or before the dMe RetYed V tie wotke way tYStrN r
aecdentlfow d tie soots secured by tits Mortgage. forcc?osnrr by judicial proceedhK trod stele of the >rr+opeety. 7Ue nutlet -
star brtier inforw Borrower of tie right to reinstate after arcelersttbw and tie right to assts i• tie toretlosna proetedio~
tie coo-exWerace of a defaok or awy otter deteose of Borrower to acceleratiow awd foreciwore. N tie Mead fo cot caret ow
or before tie dote Recliied d tie twtice. Lender at [.enders optiow cry dcclwe aB of tie autos secured iy thft Morigttgt M fee
immediately dtte atsi prable witioot further demand and mar foreclose lift Mortgage il'•jntlkW psocttding. Lender shall
be ettdided to eaBeet b acct proceedi~ aB expenses of foreclosure. hst:ltrdin~. ittq trot fletited a. reasowsife tKtortter's fees.
std coat of doati:!oeNary evidence. abstracts trd title rtprN.
lf. Borrowa's Rlgit to Reinstate. Notwithstanding Lenders sccekrstion of the sums secured by th~a Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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