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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 herwf.
Any amounts disbursed by Lender pursuant to tha paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and 1_ender agree to other terms of payment. such
amounts shall be payable upon notice From tender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the me payable from time to time on outstanding principal under the Note unless paj?raatt 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 tape
any action hereunder.
g. Ias*eetioo. 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 Properly.
9. Cetodeoroatbw. The proceeds of any award or claim for damages, direct ex consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for cohvs)fanc! in live 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,
wish the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Larder i
otherwise agree in writing. there shall be applied to the sums secerre:d by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums cecerred by this Mortgage immediately prior to the date of
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 Borsower. or if. after notice by lender to Borrower that the condemnor offea to make
an award or xttle a claim for damages, Borrower fail. to respond to Lender within 30 days after the date such ratioe is
mailed, Lender is authorized to collect and apply the proceeds, at Tender's option, either to restoration orrepair of the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or aostpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such install.ttents.
10. Eorrowcr Not Released. Extension of the time for payment or modification of amortization of the sums xeured -
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 Bc?rrower'c serceessors in interest. Lender shall not be required to commence -
proceedings against such successor or reface 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 Borcower and Borrower's successors in interest.
I1. Forbearawce by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwix aBorded by applicable law, shall not be a waiver of or preclude the exercise of any such right or tarredy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver e>E Lender's
. right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Rerwedia Comalstierc. 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 successively.
13. Successors and AssiRws bound: Joint sad Several i.iability; Captbws. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure 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 csptions~and headings of the paragraphs of this Mortgage are for convenience only and arc not to lk used to
interpret or define the provisions hereof.
14. Notice. Except for any notice required under applicable law to be given in anotber manner, (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certifikd mail addressed to Borrower at
the Properly Address or at such other address as Borrower mav_ designate by notice to i_ender as provided herein, and
(b) any notice to Lender shall be given by certified mail. return receipt reNuestod. to Lender's address uated 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 :o have been given to Borrower or lender when given in the manner designated herein.
1S. Unitorur Mortgage: Governing Law: Severability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform sexurity instrument covering
real properly. 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 xvenble.
lf. Eorrower's Copy. Borrower shall be furnished a conformed copy- of the Note and of this Mortgage at the time
t of executan or after recordation hereof.
r 17..Ttraosfer of the Property: Assumption. If all or any part of the Property or an interest tbercin is sold or transferred
by Borrower without Lenders prior written consent. excluding (al the creation of a lien .or encumbrance wbordinate to
this Mortgage. (b) the creatton of a purchace money security interest for household appliances, (c) a transfer by devise.
descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less
not rnntaining an option to purchase, Lender may, at Lender
c 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 te1 be cold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interrct payable on the sums secured by this Mortgage shall be at such rate ac Lender
shall request. Tf 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
t obli~ions under this Mortgage and the Note.
if Lender exercises such option to accelerate, Lender shall 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 notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiation of such period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph Ig hereof.
i .
Nort-UNIFOaM COVENANTS. Borrower and Lender further covenant and agree as follows:
li. Accderatloo; Reoredia. Except as prodded is paragraph 17 baeot. tspo Isorrewer's breach of troy esvetmrrt er
agreement of )dorrower b ebb Mortgage. bneltrdirrg the co•coanh to py wbeo doe nor stsroa seettuei by this Mortgage. Laden
prior b aetekrafbo draM wrafl wotke to 1<orrewcr as provides M paragraph 14 hereof s'eelfyiog: (1) !be br+eacb: (>h the setbw
rgo\ed b etre sorb M+eacb; (3) a dote. woe lkss thaw 30 days trove the late the wotke b wraYtl N >torower. by wbteb tprcb
braeb room ba eared; aoi (4) tbM tailare to cure such breach a or before the date gtcYel V the wotke Wray rauM i•
I secelkratiow oI the s¦ms saorel by ebb Mortgage. foscclomre h l~+r !r' awl sale of the hoperty. The woRies .
~ sba{I ftrrtber htortw Borrower of the right to refwstste after accekratbo and the rlgbt to arch h the toreclearre proeeeig
the ooa-etWeoce d • ektauk or soy other ddeosc of Borrower to accekratfow awl torecloaa. If the br~eaeb b woe csrtl err
or before the late speeiiel fi tttae wotlee. Lewder at I.ewders opiow ray ieehre a~ et Ibe swore oscwrel by tbls MOetRaRe to be
irrwelhhly doe aoi pyaMe wiflwut further demand sad may foreclose ebb Mortgage by jwdiehi prreeteliaR. Lendkr dnM
be aetitlel to e,"Olilet i• t>arcb proctelirts d expetusa of forecbsure. brcltdiog. hot net fWtei M, reasowaYe s+tt~xtteYs tea.
sad costs of loca-meofar7 evidewce, abstfacts awl tick reports.
19. Iftonowa's Right to ReioNate. Notwithstanding Lenders acceleration of the sums secured by this Motgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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