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Leaciet's written agreement or applicable law. Borrower shall pay the amount of a!1 mortgage insurance ptemitrtns rn the
msnner provided under paragraph 2 heroof.
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 Lender agree to other terms of payment, such
amounts shall be payable upon notice from [.ender to Borrower requesting payment !hereof, 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 sate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur aay exptntse a fate
any action hereunder.
fl` Iwsrectiow, 1_ander may make or cause to be made reasonable entries upon and inspections of the Property. provided
that i_ender shall Rive Borrower notice prior to any such inspection specifying reasonable cause therefor related to i~ertder'a
interest in the Property.
9, C~ The proceeds of any award or claim for damages, direct or consequential, in conrtoction 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 t~te~Property, the proceeds shall be applied to the sums secured by this Mortgage.
with the excess, if any, paid ~o Borrower. ~ 1n the event of a partial Taking 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 proceeds
as is equal 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 prior to the date of taking, with the balance of the prooetxls
paid to Borrower.
if the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers 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 n authorized to collect and apply the proceeds, at Lender's option, either to ratontion or repair o[ the
Property or to the sums secured by this Mortgagt.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall tat 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. Isorsiower Not ReleaRei. Extension of the time for payment or modification of amortization of the sums assured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not ope*ate to release, in any manner,
the liability of the original Borrower and Borrowers successors in interat. tender shall not be required to commence
proceedings against such successor or rcftrse 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 Borrower's successors in interest.
11. Forbearance by Lewder Not a Waiver, Any forbearance by Lender in exercising any right or remedy her+etmder, or .
otherwise afforded by applicable law, shall riot be a waiver of or preclude the exercise of any such right or remedy.
The procttrcment 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.
It Rerwcdks Ctnwahtlre. All remedies provided in this Mortgage are 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. Swcceasors awd Aadgws Board; Jorrt awd Sererwl i.iability; Capfiows. The covenants and agreements herein
contained shall bind, and the rights hercurirler shall intrr~ to. the respective succeswrs and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joirtj and several.
The captions' and headings of the paragraphs of this Mortgage are for convenience only and are rat to lie used to
interpret or define the provisaru hereof.
14. Nottee. 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 certifitd mail addresstd to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Tender as provided herein. and
(b) any ranee to Lender shag be given by certified mail, return roceipt 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.
]S. UwBores Mort~e: Gotrerwiwtt Lae; Sererabfllty. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to rnnstitute a uniform security instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is tocatod. In the
event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not afkct
other provisions of this Mortgage or the Note which can be given effect without the conflicting provisan, and to thk
end_the provisions of the Mortgage and the Note are Declared to be severable.
Ii. tlbrrower's Cory. Borrower shall be furnished a conformed cop}• of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Trawsfer of rite 1•rorerty: Aawarptiow. If all 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 creation of a purchase money security interat 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 leasehold interest of three years or less
rat containing an option to purchsse. Lender may, at Lender s option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived Stich option to accelerate if. prior to the sale a transfer, Lender
and the person to whom the Property is to be so1J or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the inter~Kt payable on the sums secured by this Mortgage shall be at such rate as Lender
shah request. If Lender has waived 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 : orrower from all
obli<ations under this Mortgage and the Note.
If Lender exercises such option to accelerate, Lender shall mail Bonowet notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the data the notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay arch Brims prior to the expiration of wch period,
Lender may, without further rioticx or demand on Borrower, invoke any remedies permitted by pars,graph.lg hereof.
NoN-Ut+ttrorttrt CoveNar>TS. Borrower and Lender further covenant and agrte as follows: _
Ii. Acedaatiorq Rawediea. 1Btteatt ss prorMca iw twragrapr 17 terser. tyro. sor..wers rre.er at awy c+w•ewawt K
agreeanwR of >Mr»~wer f• tries Mortj<age. twdwdirrg tfle corewsrgs.to ta7 whew Owe awy twws stcatei b tris Mortgage. i.ew4er
retort w wceeierdiasw Brat ~ wotlee to lbnowsr as trorNed h t~aLmN 14 rereot srecY~iags (1) Art lt+raacr: (2) the arfiaw
tregwirei Is ewe stscr Irrewc~ (3) a tale. wot ties traw 3• days tr~owr tee date Ire netke b ttaa&d M Darrower. b' wrki saver
llrewclt asaat k eared; acrd (n test tailwre M erne aver rr~ewer a ar retore tee daft gtciBed tee wodee say resalf V
ate+ekrwtlaw et Ire agar secwred by fris Mortgage. tenscloawrr b r swd sale of tee h~otcrry. Tire watiee
sfri fwArer idertw liornw~er d tee right a relwstate after aceekrMbw awd tltta tiger Io sweet i• tee rerteMawe rrvteaittg
tfle ~ot+•rxlslewee d w dets+tlt or awe otter detewse of Torrower M aeceleratiow awd totetloawnt. R the rreacr r wet ewsed aw
or esters trc dale ataeiid i, tee tsollre. Lewder at I.ewder's ortiow p7' declare aft or ter sawts aeewred ~ tYs MarfsaRe N k
hwwedia/ely dwe atsi Mate witrowt twituer dearand awd freer tarceloae trls Mertgagt liy lwdieial rrtaetediwR. tender daiM
k eMNlad to erieet t, ewer rer.essifrtg ,r expewses at foreclosm. iwtlwdiwg. tt+wt wet tf{rtti/ed M. rsasartarie attxrreYs tea.
awi aaals of iaen'wewtary eriiewes, abatraeb awd title retorts.
lf. tiwnwa'r F1gM t. RelrtMe• Notwithstanding Lenders acakratiort o/ ttte uxrn secured by this Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
BOCK 33O PdGE 1925