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Lender's written agreement or applicable law. Borrower shall pay the amount o[ all mortgage insurance premiums rn 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 agree to other temps of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest frorrr the
date of disbursement at the rate payable from time to time on artstanding principal under the Note unless payment of
interest st such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest n/e
permissibk~ under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any exptaae a fate
any sdion hereunder.
ft. los~ectioa Lender may make or caux to be made reasonable entries upon and inspections of the Property. provided
that i_ender shall give Borrower notice prior to any such inspection specifying reasonable caux therefor related to Larder's ,
interest in the Property.
9. C~ The proceeds of any award or claim for damages, direct or rnnsequential, in connection with any
cwrdemnation or other taking of the Property, or part thereof, or for conveyance in lieu of eondGarnation, 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 wms secured by this Mortgage.
with the excess, if any, paid to Borrower. In the event of a partial taking ol: Nte'prTope~t~?; unless Borrower and Lender
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds 1
as is egwl to that proportion which the amount of the sums secured by this Mortgage immediately- prat to the data of
taking bean 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 con_ demtror olfets to mate
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 Lenders option, either to restoration or repair of the
Propa•ty or to the wtns secured by this Mortfta(te.
Unless Lender and Borrower otherwise agree in writing. any wch application of proceeds to principal shag 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. -
iB. flsorrower Not Rekaaei. Extension of the time for payment or modifkation of amortiution of the sums secured
by this Mortgage granted by Lender to any succeswr in interest of Borrower shall not operate to rckstoe, in any manner,
the liability of the original Borrower and Bc?rrower
s strccescors in interest. Lender shall not be required to commence
proceedmgs against such successor or refuse to extend time for payment or otherwise modify amortiration of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Forreararrce r7' I.euaer Not a R?aiver. Any forbearance by Lender in exercising any right or rctnedy heretrrrder, or
otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The proctrrcrrxnt of insurance or the payment of•taxes or other liens or charges by Lender shag not be a waiver of Larder's
right to accelerate the maturity of the indeMedness secured by this Mortgage.
12. Retrciies Cwotahtlve. 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 sucoessivety.
I3. Successors aaa AssiRus louaa:.loiat aria Several 1.isMBt3, Caprices. •Ilre covenants and agreements herein s
contained shall bind, and the rights hereunder shall incrg 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 jetty and several. ;
The captions' and headings of the paragraphs of this Mortgage arc for convenience only and arc not to Ile used to
interpret or define the provisions hereof.
11. Netke. Except for any notice required under applicable law to be given in another manerer, (a) any notice to
Borrower pMvidtd for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at t
the Property Address or at such other address as Borrower may designate by notice to Tender as provided herein, and t
(b) any notice to Lender shall be given by certified mail. return receipt requested. to tender'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 f
I~ Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
'I 1S. Uaifors Modgage: Govertriag Law: Severabaity. 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 omrering
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 provisatts of the Mortgage and the Nde arc declared to be severable.
~ lf. )sorr~ewer'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..Trauder of tie lroperty: Assuwrptiow. if a!I or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the crcatiorr of a purchase money security interest for household appliantxs, (c) a transfer by devise,
descent or by opentan of law upon the death of a~joint tenant or (d) the grant of any kaxhold 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 etch option to accelerate if. prior to the sale or transfer. Lender
and the person to whom the Property is a~ be cold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the inte~.•ct payable on the sums stxured by this Mortgage shall be at such rate as Lender
shall regtrat. If Lender has waived the opion Io accelerate provided in this paragraph 17, and if Borrowers successor in
interest has executed a written sssumption agreement accepted in writing by Lender. Lender shall rckax Borrower from all -
oblijationsunder this Mortgage and the Note.
if Lender exercises such option to secekrate, Lender shall mail Borrower notice of accckration in accordancw with
pera~raph 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 wms declared due. if Borrower fails'to pay such sttms prior to the expiration of such period,
- Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph lR hereof.
Nets-Untraon?r Covertew•r•s. Borrower and Leader further covenant and agree as follows:
lfi. A~ Re~eaies. Percept as M'aviaea i. parapapr 17 resoot. alou •ersswers rsead of troy ee~eaott K
agreeseat of Doss+o~wer r Ws Ms+et~tge, luelualu~ rbc ceretiads b fMl' wieu sue sty sues: sttuesi r7' fir Ma#age. fletier
psim M aeeeksarN. dais trNi .odce ro fionower as'ro.laei err Nragra~ 14 rttseet speeityitg: (1) pre rtreacr: (=1 the sctiow
:poises 1a cure seer rtreaer8 (S) • +re, sot ids unrr 31 ays trctw tre Lte the tsNke r ~oiei >serrower. y wrki sreY
!:each twt re covet; eta M fiat tailtas N case such rreaei a K refuse tre rite s*eeNei i• tre uotice rnr reaM. Ma
aeeelaatlot of the souse soeusei y tris MostiaRw Ioseaiowre y juakW lsoaae~[ atsi sole at tre fhoKsyr. Tire wotice
sW iurerer irdoe~ fiors+o+~sr of rte riRit r• rr:itSMe after secekratfou aai tre right b aced V tre Mreeioarrs ~ocaeiirtg
Ire tot•e~tiete~ee of a iefaalt or arty other iefease of ¦oerower 1o accekrafMa aua foreciowre. a Nre rtreadr fo cot eased of
or rduse rte isle :poetise Ire tolke. lertier at f.ewaer's optfow tray iteiase r of tre sort seetsei r7' brit Mesf~rge 1a re
isatreaWely iue eta NyaYc witMur tudrer detwarrd ant asay toseelooe tit Message r7' juikiol proeoCiR. Lender dra>r
k atlWea a eoieet i• sod peotoeiirrg aw e:leases wf torecloouse. fuciuafo~. rut tM itrilea r. seasorroile rttxaer's fees.
ati eesls of ioe~-7eafary triaetee, arstraers aaa title reMrb-
1!. fNsnwes's Ri:rt N Rei¦slste. Notwithstandinft Lenders aceekration of tht sutra secured by Ihts Martisie.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
g~~ 329 P~~E ?81