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Lender's written agreement or applicabk 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 intetcst thereon, shall become additional
indebtedness of Borrower secured by this Morlgage. Unless Borrower and Lender agree to other terra of payment. such
amounts shall be payable upon notice from Lender to Borrower regtresling payment thereof, and shall bear interest from the I
date of disbursement at the me payable from time to time on artstanding principal under the Note unless payroart of
interest at such rate would be contrary to applicabk IaN, in which event such amounts shall bear interest st the highest rate
permissible under applicabk law. Nothing contained in this paragraph 7 shall require Lender to incur tuty expewe or take
any action hereunder.
s. laspcctiorr. Lender may make or caux 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 b Lender's
interest in the Properly.
9. Corrderaaatioa. 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 there~fprfer cPnyeyance in lieu of condemnation, an hereby sssigtred
and shall be paid to Lender.
in the event of a IoM taking of the Properly. the proceeds shall be applied to the Berms 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 Leader _ 9
otherwise agree in writing. there shall bt applied to the sums secured by this Mortgage such proportion of the proceeds
as is equal to that proporlion which the amount of the sums secured by this Morlgage immediately prior to the date o[
taking bears to the fair market value of the Properly 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 oRets b 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
Properly or to the sums secured by this Mortgage. j
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall Trot etttend
or postpone the due date of the monthly installments referrrd to in paragnphs 1 and 2 hereof or change the amount o[
such installments.
10. Borrower Nol Released. Extension of the time for payment or modification of amortization of the wms secured ~
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 Borrowers 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 Morlgage by reason of aryr demand made by the original Borrower and Borrower's successors in interest.
11. Rorbesrsace by Leader Not a Wslver. Any forlxarance by Lender in exercising any right or rctrredy heretmder, or
otherwise aBorded by applicabk law. shall not be a waiver of or preclude the exercix 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 Larder's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Rearedks Comrrlative. -All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Morlgage or afforded by law or equity, and may be exercised concurrently, independently or strcceszivdy. }
' 13. Srrecessors sad Astdgas Boarrd:.7oht sad Seteral i.iabAky; Captions. The covenant: and agreements herein i
contained shall bind, and the rights hereunder shall intrr~ to, the respective successors and assigns of Lender sod Borrower. }
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jary and sevenl.
The captions ~ and headings of the paragraphs of this Mortgage arc for convenience only and are not to lie used to
int_erprct or define the provisans hereof. '
14. Notke. Except for any notice required under applicabk 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 cerliflod mail addressed to Borrower at
the Properly Address or at such other address as Borrower may designate by notice to Tinder as provided herein, and
(b) any notice to Lender shall he 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 tender when given in the manner designated herein.
1S. Uoiforar Morlgage: Govereiag Law; Severability. This form of mortgage combines uniform covenants for national
II use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
rc:l properly. This Mortgage shall bt governed by the law of the jurisdiction in which the Property is located. In the '
event that any provision or claux of this Morlgage or the Note conNicts with applicabk law, such conflict shall not select
other provisions of this Morlgage or the Note which can be given eRect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note arc Declared to be sevenble.
f 16. Borrower's Copy. Borrower shall be furnished a conformed cop~• of the Note and of this Mortgage at the time
I of execution or after recordation hereof.
17..Trarrster of the Troperty: Asssrarptiow. Tf all or any part of the Properly or an interest therein is sold or transferred
~ by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance wbordinate to
~ this Morlgagt. (b1 the creation of a purchase money security interest for household appliances, (c) a rooster by devise.
~ descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interc:< 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 verived uich option to sccelente 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 interact payable on the sums secured by this Mortgage shall be at such rate as Leader
shall roquest. if Lender has waivod the option to accelerate provided in this paragraph 17, and if Borrowers successor in #
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
' oblations under this Mortgage and the Note.
~ If Lander exercises such option to accelerate. Lender shall mail Borrower notice of accekntion in accordance with t
' paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice a mailed within
~ which Borrower may pay the sums declared due. If Borrower fails to pay such sterns prior to the e>ipintion of such period,
~ Lender may. without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1R hereof.
NoN-IINIFOnM COVENANTS. Borrower and Lender further covenant and agree as follows:
lt. Acederatloal Rewredies. IRscept as provlied i• paragraph 17 hereof. tspoa Bornwa's braelr at aq cenaant K
agrtetax¦t of Berrower d tYs Morlgage. iraeltsihtg the eovewarrts is pay wits due any staaa aetati i1' tYs Mertgage, I.enier
! prior a aeeekratlorr shi mdl aotlce to iorrower s proviaea le paragraph 11 herset yeeffylags (1) tie breach (2) the aetiora
retpired b ettre sack (3) a dale, slot less than 3• days trots the late the taotiee b ttsailei N Barr+awtr, b which Beath '
hsweh tsrtsrt k ~ aid (1) that tailare b care strth breach ow a< befoa the date speciRed V the rwaee tsaaf resale b+
atxdtxaaoa of the stress scctsred by this Mortgage. foreaiowre by judicial proeoedlag atsd stile of the . h~opcrty. Tire notice
shag ftsrthcr idorra Borrower d the right M rebtaate after aceekratbrr send the right b sash i• the for+aclasrWe prscaaig
tie mow-esistewce of a detatsk or soy other dettase of Borrower to sccekrdiorr ante toreclowre. N thi breach b net cared a
! et before the dale speciiei i• the tsolice. Leader at Leader's option nay deebre r e< are writs stetsred ti ebb MortpRt Ira k
itwwediately dire arts paysik witborrt twther demand and wrsr foreclose fhb Morttste 67' jrrdkW prresedMsR. Leader draM
be esdided to eoYoct iw such proccedi.t ar e:peasa r?f foredostaro. bt<la8hg. bat not Brdlsd M, reasawaMe sttwtrev's fses, }
f asrd coals of doe`~eatary etadeace, abstracts atsd title reports. 3
19. Borro.ra's R4ht t• ReLslate. Notwithstandinlt Lenders accekrstion of the wms secured by thn Mortgage.
Borrower sha!! have the right to have any proceedings begun by Lender to enforce this Morlgage discontinued at any time
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