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Lender's written agreement or applicable law. Borrower shall pay the amount o[ all mortgage insurance premiums in the
manner provide) under paragraph 2 heroot,
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower xcured by this Mortgage. Unless Borrower and I-ender agree to other terms of payment, such
amounts shall be payable upon rrotice from I.grt~er to Borrower requesting payment therrnf, and shall bear interest tr+om the
date of disbursement at the me payable from time to tune on outstanding principal under the Note unless payment of
interest at such rate would be contnry to applicable law, in which event such amounts shall hear interest at the highest me
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
fl, /ntgtectiou. lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
! ~ti~ll ~iv~ Anrrn.v~r n~tiCN flt1Ar to anV tlMh insaection specifying rcasonabk cause therefor related to Lender's
interest in the Property.
9. Coademnstiow. The prpceedc of any award or claim for damages, direct or consequential, in rnnnertion with say
condemnation or other taking of the Property, or part thcrrnf, or for conveyance in lieu of condemnation, arc hereby assigned
and shall be paid to i.ender.
In the event of a fatal taking of the Property, the prckceds shall he 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 bender
otherwix agree in writing. there shall bt 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 Borrower. or if. after notice by lender to Borrower that the condemnor often 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 lender's option, either to restontion or repair of the
Property or to the sums secured by this Mortgage.
Unless lender and Borrower ollxrwisc agree in writing. any 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.
lU. Borwwer Not Released. Extension of the time for payment or modification of amortization of the sums secursd
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in and manner.
ihr. liability of the original BorrosYCr and Rorr.,.v~r s s~~cceccnrc in interest. Lender shall not be required to commence
proceedings against such successor or rcftrx to extend time for payment or otherwix 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. Forbeanoce by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwix 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 ofiaxes 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.
l2. Renxdks Camuhttke. 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 exercixd concurrently. indeptr?dently or stteeessivtly.
' 13. Srcessson sad Assigns Board; Joint sad Several 1.isbiHfy; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall intrrt; to. the respective successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and xvenl.
'Ithe captions and lxadings of the paragraphs of this Mortgage arc for convenience only and arc not to lie used to
interpret or define the provisions herrnf.
I4. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in thiss Mortgage shall be given by mailing such notice by certifkd mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to f_tnder as provided herein, and
(b) any notice to Lender shall be given by certified mail, return receipt requested. to Lender'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 this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
IS. Uniform Mortgage; Governing Law; Sererability. 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 claux of this Mortgage or the Note conflicts with applicable Taw, such conflict shall not affect
other provisions of this Mortgage or the Note which can be given etiect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are Jtclarcd to be severable.
16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the tune
of execution or after recordation hereof.
17..Trawster of the Property; Assumption. /f all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior writtrn conxnt. excluding ial the creation of a lien or encumbnnce 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 (dl 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 waived such option to accelerate if, prior to the sale or transfer, Lender
and the person to whom the Property is to be ;old or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that tlx interest payable on the sums secured by this Mortgage shall be at such rate ac Lender
shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in
interest-has executed a written assumption agreement acttpted in writing by Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
if Lender 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 less than 30 days from the date the notice is mailed within
which Borrower may pay the sums doctored due. It Borrower tails to pay such sums prior to the expiation of each period,
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
NoN•Untt=star CoveHaHTS. Borrower and Lender further covenant and agree as follows:
lll. Aeederatlon; Reasedia. 1?:cept ar provided in paragraph 17 hereof. rpon Ibrrowers breach of arty covenant ar
agreement of Borrower in tr4 Mortgage. ineltediag ere covcwturts to py wren drt Mr srrts secrrcd df tW Mortgage. I.endtr
prbt to acederatbn sraitt mail wotke to Borrower as provided In paragrapr 11 rereot spet:lfyfai: (1) the btKaei; (2) the action
requfscd b cane ttrci brcaci; (3) a date, root less flaw 30 days trorn ere Gate ere notice Ir tsafikd fo Borrower. b whkr stet
teener ,.test be erred; and (4) that failure to care such breast on or 6etorc ere date spteiid b ere wotice nay rtesaN k
secekrMfon of ere saes seetwcd by tris Mortgage. foeeciosure by jrdkW proceeding and nit of the h+uperry. Tice wotia
- sbatl better inforwt Borrower o[ fire riRM to rNetstate after aceekrNiott swd ere tigrt b assert fa ere torcelowet pr~oeeetllwg
tie non-existence of s defark or awr otter defewse-of Borrower to acccleratbw and foreclowec. Here btzac? d not etuci ar
or before the date specifiied i• ere wotice. Lender at Lender's option way deehec ar of ere srttas sscrrcd try Iris Mortgage b be
itwnxdiately dre awl pysbk witborl trrtber demand and way foreclose this Mor~age h' jndichl prretediaR. Lender shsN
be ett~tided to collect iw attar proceeding a6 a:penses of foreclosrre, Inclydias. brt not fWteti N, rcasonabk sttornev's fees.
ant! eosfs of doct:!~entarr eridence, abstract and ti/k report.
19. Borrower's Rlgltt to ReMtate. Notwithstanding Lenders acceleration of the sums secured by this Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage dixontinued at any time
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