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Lender's written agreement or applicable law. Borrower shall pay the amount of 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 Lender ague to other terms of payment, such
amounts shall be payable upan 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 payment 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.
8. laspectlorr. Lender may make or cause 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 to Lender's
interest in the Property.
9. Coodemnatbn. The proceeds of any award or claim for damages. direct or cansequential, 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 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. their shall be applied to the sums secured by this Mortgage such proportion of the proceeds
as is oqual 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 priar to the date of taking, with the balance of the proceeds
paid to Borrower.
Tf the Property is abandoned by Borrower, or if. after native by i.ender to Borrower that the condemnor offers to make
an award or settle a claim for damages, Borrower tails 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 Martgage.
Unless Lender and Borrower otherwise 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.
10. Eorrower 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 liability of the original Borrower and Barrower's 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 Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
11. Forbearance by Lender Not a Waiver. Any frbearance by "Lender in exercising any right or remedy hrrcander, 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 Lender shall not be a waiver of Lender
s
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afiarded by law or equity. and may be exercised concurrently. independently or s~occescively.
l3. Successors and Assigns Bound; Ioint and Se~•eral f.iability; Captions. The cavenants 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 and agreements of Borrower shall be joint and several.
The captions and headings of the paragraphs of this Martgage are for convenience only and are not to be used to ,
interpret or define the provisians hersof. i
14. 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 other address as Barrawer may designate by notice to i"ender as provided herein, and
(b) any notice to Lender shall be given by certified mail. return receipt requested. to lenders address stated herein or to
such other address as Lender may designate by native to Borrower as provided herein. Any notice provided for in this
Martgage shall be deemed to have been given to Harrower or Lender when given in the manner designated herein.
15. Uniform Mortgage; Governing Law; Severability. This form of mortgage combines uniform covenants for natiaaal use (
and non-uniform covenants with limited variations by jurisdiction w constitute a uniform security instrument covering real property. The ~
f state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is located. The foregoing 3
sentence shall not limit the applicability of federal law to this mortgage. In the event that say provision or clause of this Mortgage dr the {
Note conflicts with applicable law, such confl` 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 Nou are declared to be severable.
l6. 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 hereaf. "
17. Transfer of the Property; Assumption. if all or any part of the Praperty or an interest therein is sold or transferred
by Borrower without Lenders priar written consent, excludigg tat the creatian of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase money security interest far household appliances, (c) a transfer by devise, j
descent or by operation of law upon the death of a jaint tenant or (d) the grant of any leasehald interest of three years or less
not containing an option to purchase, [_ender mry, at Lender's optian, declare all the sums secured by this Mortgage to be r
immediately due and payable. Lender shall have waived such optian to accelerate if, prior to the sale or transfer. Lender
and the person to wham the Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest 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 j
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 ;hall 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 unties is mailed within
which Harrower may pay the sums declared due. If Harrower fails to pay such sums priar to the expiration of such period.
Lender may, without further notice nr demand on Borrower. invoke any remedies permitted by paragraph IR hereof.
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Nox-UNtcoawt Covt=_rv~HTS. Borrower and Lender further covenant and agree as follows: t
18. Accelerstioo; Remedies. Except m provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the.covenants to pay when dne any sums secured by tbis Mortgage, Lender
prior to acceleration sba0 mail notice to Borrower as provided in paragraph ld hereof specifying: (1) tht.bceach; (2) the action
required to cure sucb bresch;'(3) a date, not less than 30 days from the date the notice is mailed to Borrower, by wbkb such #
breach must be cared; and (4) that failure to cure such breach on or before the date specified in the notice may result in
acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. 'I7te aMice t
shall further inform Borrower of the right to reinstate after acceleration and .the right to assert in the foreclosure proceeding
the non-existence of a defauk or any other defense of Borrower to acceleration and forecbatrrc. If the breach is not cured on
or before the date specified in the notice. Lender ar Lender's option may declare aB of the sums secured by this Mortgage to be
immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. 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 reports. .
19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this 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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