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1_enJcr's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner providcJ under paragraph 2 hereof.
Any amounts disbursed by lender pursuant Io this paragraph 7, with interest thereon, shall become additional
indcMcdncsc of Bormwcr secured by this Mortgage. Unless Borrower ant LenJer agree to other terms of payment, such
amounts shall be pa}•ahlc ulx~n notice from Lender to Bormw•er 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 contrar}• to applicable law, in which event c?tch 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. ~ t
8. Inspection. lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
that Lender sha!! give Borrower nc?t':ce prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property. _
9. Condemnatbn. The proceeds .of any award or claim for damattes, 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
ant shall be paid to i.endcr.
in the even! of a total taking of the Property, the proceeds shall be applied to the aims 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 he 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 hears to the fair market value of the Propert}• immediately prior to the Jate of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned b}• Borrower, or if. after notice by l.erxler to Bormwcr that the condemnor offers to make
an award or settle a claim for damages. Borrower fails to respond t+• 1_ender within ?0 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at T.ender'c option. tither to restoration or repair of the
Propcrry or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing. any such application +~f pr+x-c~eds to principal shall not extend
or postpone the due date of the monthl}• 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 pa}•ment or modification of amortization of the c?+mc secured
by this Mortgage granted by LenJer to am• 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. i.ender shall not be required to commence
proceedings against such successor or refuse to extent time for payment or otherwise modify amortization of the sums
secured M• this Mortgage by reason of am- demand made by the original Borrower and Borroeers successors in interest.
11. Forbearance by Lender Not a Waiver. Am° forbearance M• Lender in exercising any right or remedy hereunder. or
otherwise 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 i.ender shall not he a waiver of i.ender s
right to accelerate the maturity of the indebtedness secun~tl by this 1ortgage.
lt. 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 i.iability; Captions. The covenants and agreements herein
contained shall hind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All, covenants ant agreements of Borrower shall he joint and several.
The captions ant headings of the paragraphs of this Mortgage arc for rnnvenience onl}• 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, fa) an}• notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed Io Bormw•er at
the Property AJdress or at such-other address as Bormwcr may designate M• notice to lender as provided herein, and -
Ih) am• notice to Lender shell be given by certified mail, return receipt requested. to Lender's address stated herein or to
such other ad sc as Lender may designate by notice to Bormwcr as provided herein. Am• notice pmvideJ for in this
Mortgage sha deemed to have been given to Borrower or Lender when given in the manner designated herein. _
15. LJn ot•m :Mortgage; Governing Law: Severabilit~•. This form of mortgage combines uniform covenants for national
use and non- nnform covenants with IimiteJ variations h}• jurisdiction to constitute a uniform security instrument covering
real property:- This Tlortgage shall be governed by the law of the jurialiction in which the Property is located. In the
event that a • provision or clause of this Mortgage or the Note contlictc wish applicable.law•. such conflict shall not affect
other pn,visi+ s of this Mortgage or the Note which can b+: given effect without the conflicting provision. and to this
end the pnn•ic+ s of the 111ortgage ant the \otc arc Declared tti he severable.
16. Borrow s Cope. Borrower shall be furnisheJ a conformed copy of the Note and of this Mortgage at the time
of execution or aft recordation hereof. ~
17. Transfer o e Propert}: Assumption. If all or an}• part of the Pmpcrn• or an interest therein is sold or transferred j
h}• Borrower without Len er s prior written rnnscnt. excluding tat the creation of a lien or encr+mbrance subordinate to !j
this Mortgage. Ibl the creation of a purchase money serurit}~ interest for household appliances. (c) a transfer M• devise.
decent or by operation of L+w upon the death of a joint tenant or fd? the grant of am• leasehold interest -of three }•ears or less !
not containing an option to purchase. Lender ma}•. at Lender's option, declare all the sums secured by this Mortgage to be
••....~:.CoC^'~ Lr~` Y~~~1.1~. l.i'.^.'~e. ~t,~ll {~~a•n aia•`Lr ..~.~k .,~:inn to ar~rlf!r~te if, hrie,r to the sale or transfer. Lender
and,the person to~w•hom the Pmpertyris to be sol.l or transferred reach agreement in writing that the credit of such person
is satisfacton• to Lender and that the interea payable on the sums secured by this 11~ortgage shall be at such rate as Lender
shall request. If lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest has executed a written assumption agreement accepted in writing by LenJer, Lender shall release Borrower from all
obligations under this Mortgage and the Notc.
If Lender exercises such option to accelerate. lender shall mail Borrower notice'of acceleration in accordance with
' paragraph 14 hereof. Such notice shall provide pericxl of not Icss than ?0 days from the date the notice is mailed within
~ which Borrower may pa}_ the some declared due. If Borrower fails to pay such sums prior to the expiration of such period, !
Lender may. without further notice or Demand on Born?wer. invoke an}' remedies permitted by paragraph 18 hereof.
Nox-Utvtrot?t?t Covetv~!rrs. Borrower and Lender further covenant and agree as follows:
18. Acceleration; Remedies. Except as prodded in paragraph 17'hereof, upon. Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the co~•enants fo pay when due any sums secured by this Mortgage, Lender
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) 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 cnred; and (4) that failure to cure such breach on or before the date specified in the notice may resWt in
accekration of the snms secnred 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 the right to assert in the foreclosure proceeding
the rwn-existence of a default or any other defense of Borrower to acceleration and foreclosure. if the breach is not cnred 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 payabk without further demand and may foreclose this Mortgage by judicial ptroceedirrg. 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 rcpotrtc.
19. Borrower's Right to Reinstate. Notwithstanding lenders acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have an}• proceedings begun by lender to enforce this ;vfortgagt discontinued at any time
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