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Lender's written agreement or applicable law. Borrower shalf pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by !.ender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and tender ague to other teens 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 unless pa`y?nent Ot i
interest at such net 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. i
S: laspectiou, i.ender may make or cause to l+e made reasonable entries upon and inspections of the Property, provided
that fender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to I.ertder's
interest in the Property.
9, Cowdewtwation, The proceeds of any award or claim for damages, direct or consequential, in connxtion with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby sssigtted
and shall be paid to Lender. '
in the event of a total taking of the Property. the proceeds shall be applied to the sutrts' secured by this Mortgage,
with the excess, if any, paid to Borrower. fn the event of a partial raking of the Property, unless Borrower and Lender
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceed:
as is equal to that proportion which the amatnt of the sums secureM 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 proceals
paid to Borrower.
If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to matte
an award or settle a claim for damages. Borrower fail, to respond to lender within 30 days after -the date such notice fs
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 sums secured M~ this Mortgage.
Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall reef 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.
10. )dorrower Not Rekzsed. 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 liability of the original $orrower and Bc?rrower's successors in interest. tender 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 by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
11. Forbgtrawce Hy Lewder Not :Waiver. Any forhearance by Ixnder 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 be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies Cuwulstl+ve. 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, and may be exercised concurrently, independently or sucvessivety.
' 13. Soccesrors wad AssiRws Found; .Joiwt awd Sererd I.iabiliry; Capdows. The covenanu and agreements herein
contained shall bind, and the rights hereunder shall in?rr~ to. the respective successors and assigns of Lender apd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several.
The captions-and headings of the paragraphs. of Chic Mortgage are for convenience only and are not to Fie used to
interpret or define the provisions hereof.
11. Notice. Except for any notice required under applicab{e 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 other address as Borrower may designate by notice to fender as provided herein. and
(b) any notice to Lender shaft 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 Lender when given in the manner designated herein.
• 1S. Uwitortw Mortgage; Goverwirrg Law; Sererability. This Corm 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.
16. Eorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Trartsfer of tie Property; Assamptiaw. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior wriurn consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase money +ecurity 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 kasehotd 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 cold or transferred reach agreement in writing that the credit at such person
is satisfactory to Lender and that the inters+t payable on the sums secured. by this Mortgage 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 Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
if Lender exercises such option to accelerate. Lender chat) mail 8orrowtr notice of accekntion in accardanc~ with
paragraph 14 hereof. Such notice shop 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. it Borrower fails to pay such stems prior to the expiration of such period.
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph t8 herrnf.
NoH-UNIFORM COVENANTS. Borrower and tender further covenant and agree as follows:
li. Aceeieratiow; Rewcdks. Except s provWed iw pwrttgrrtpi 17 iereot, rrpow lorrowta'a breach of twy eoretaRwf or
agrceweM of Eon~ower b ti4 Mortgage. htclodiwg tit corntawts to py view ace say rwtwts secured b7' tlds Mortgage. Lewder
prbtt b wcceleratlor sftwrt wW wotkt to Borrower as provided iw pragrspA 14 hereof speeltyiog: (1)'fie btrewci; (2) the setbw
rgtdecd b core swat br+tach: (3) a daft, wo1 lets flaw 30 days trorw the date tie ranee r waled b Fliotrower. Fry whki loci
bt+eaci woM k ewre~ twd t4) fiat taiiore to cure ttttci breach ore or iNore tic date gecMed tw tit wotke way rtrsttk i,
wecekratiott of tie vests ttccured by this Mort;aRe. to.calosorr fey jodkid proceediwg awd attf+e of the Mperty. 71re wotke
slap fattier iwtoewt >flortbwer of tie riRbt to rtlwstatt after sccekrMiow awd tie tight b avert iw' tie torceloare poceedisg
tie wow•esistewce of w detttuM or my other detcwse of Borrower to wccekrwtbw wwd foreclonte. H tie 6reaci fs wet cured ow _
or before tie sale getlied i• tie wotice. Lewder at Lender's opiow way declare all of tie stews secured b7' fNs MorfgaRe bs be
immediately doe aN pyable witioot further demand awd may forccbtt tits Mocttage h' jwiicial poeeedbtR. Lender dtap
6e ewtltled to eo0tet Iw sraci prueesdiwg sw e><pewses t,t foreclosure. htclodiRg. lot wet Mwdtei to. rearonable att•,rner's fees.
artd ottrWs of ioca•!wewtwq eridewee, abArwcts wwd tick reprts.
19. ~onowa's Itlgit to ReiRSlate. Notwithstanding Lender's sccelention of the sums securtid by this Mortgage.
Borrower shall have the right to have any proceedings hegun by Lender to sntorce this Mortgage discontinued at any tithe
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