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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
planner 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 terms of payment, such
amounts shall be payable upon notice tram Lender Io Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable tram 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 taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
8. Itsspectioa. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided
that [.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Coademruttbn. The proceeds of any award ar claim for damages, direct ar consequential, in connection with any
condemnation or other taking of the Property, or part thereat, 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 Borrawer. In the event of a partial taking of the Property, unless Borrower and Lender
ather•wise agree in writing, there shall be applied to the sums secured by this Martgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately priar to the date of
taking bears to the fair market value of the Property immediately priar to the date of taking, wish the balance of the proceeds
paid to Borrower.
if the Property is abandined b}• Harrower, or if. after natice by Lender to Borrower that the condemnor otkrs to make
an award ar settle a claim far damages, Borrower fails to respond to Lender within 3() days after the date such natice is
mailed, tender is authorized to called and apply the proceeds, at Lender's option, either to restoration or repair 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 postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of ~
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such installments.
l0. Borrower Not Rekssed. Extension of the time for payment or modification of amartization of the sums secured
by this Mortgage granted by lender to any successor in interest of Harrower shat! not operate to release. in any manner,
the liability of tFte original Borrower and Borrower's successors in interest. Lender shalt pat he required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amartization of the sums
secured h}• This Mortgage by reason of an}• demand made b}• the original Borrawer and Barrawer s succescars in interest.
I1. Forbearance by Lender Not a Waiver. An}• forhearance h}• Lender in etercising any right or remedy hereunder, ar
otherwise afforded by applicable law, shall pat be a waiver of or preclude the exercise of an}• such right or remedy.
The procurement of insurance or the payment of taxes ar other liens or charges by Lender shall not he a waiver of Lender's
right to accelerate the maturity of the indebtedness cectrred by this Mortgage.
12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right ar
remedy.r:nder this Martgage ar afforded bylaw ar equity. and may be exercised rnncurrendy, independently or successively.
13. Successors and Assigns Hound; Joint and Several liability: Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure ta. the respective suceescors and assigns of Lender and Harrower,
subject to the pmvisionc of paragraph 17 hereof. All covenants and agreements of Harrower shall be faint and several
The captions and headings of the paragraphs of this Martgage are for convenience only and arc pat to be used to
interpret ar dtfine the provisions hereof. )
14. Notice. Except fur any notice required under applicable law to be given in another manner, fa) any notice to '
Borrawer provided for in this Martgage shall he given by mailing such natice by certified mail addressed to Barmwer at x
the Property Address or at such other address as Borrawer may designate by notice to Tender as provided herein. and
(h) any notice to Lender shall he given by certified matt. return receipt requested. to lenders address stand herein ar to
such other address as Lender may designate b}• natice to Barrawer as provided herein. Any natice provided far in this
Mortgage shall be deemed to have been given'to Barmwer or 1_ender when given in the manner designated herein.
1S. Uniform Mortgage; Governing taw; Severability. This form of mortgage combines uniform covenants fornational use
and non-uniform covenants with limited variations by jurisdiction w constitute a uniform security instrument covering real property. The
state and local laws applicable to this Mortgage shall be the laws of the jurisdiction in which the Property is heated. The foregoing
sentence shall not limit the applicability of federal law co this mortgage. In the event that any provision or clause of this Mortgage or the
Note conflicts with applicable law, such conflic* shall not affect other provisions of this Mortgage or the Note which can be given eflict
without the conflicting provision, and to this end the provisions of the Mortgage and the Note are declared to be severable.
16. Borrower's Copy. Borrower shall be furnished a conformed cagy of the Note and of this Mortgage at the time ~
of execution ar after recordation hereof. ~ ,
17. Transfer of the Propertv; Assumption. If all ar an}• part of the Property or an interest therein is sold ar transferred
by Borrawer without Lender's priar written consent, excluding (a1 she creation of a lien ar encumbrance subordinate to s
this ~4fortgage. Ib) the creation of a purchase money cecurit}• interest far household appliances, (c) a transfer by devise.
descent or by operation of law• upon the death of a faint tenant or (dt the gram of any leasehold interest of three years ar less
pat containing an option to purchase, Lender may, at 1_ender'c option. declare all the sums secured by this Martgage 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 wham the Property is to be sold or trancferred reach agreement in writing that the credit of such person
is satisfactory to Linder and that the interest payable on the sums secured by this Martgage 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 aptian to accelerate. Lender shall mail Borrawer notice of acceleration in accordance with
paragraph 14 hereof. Such natice shall provide a period of pat less than 30 da}'c from the date the natice is~mailed within
which Borrawer may pay the sums declared due. if Barrawer fails to pay such sums priar to the expiration of such period,
Lender may, without further notice or demand on Borrower, invoke an} remedies permitted by paragraph IR hereof.
Nox-UtvtFOac?t COVENANTS. Borrower and Lender further covenant and agree as follows:
18. Acceteratioo; Remedies. E:ceps as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, indudirtg the covenants to pay when dne any sums secured by this Mor•tXaae, Lender
prior to acceleration shall mail notice to Borrower ac provided in paragraph 14 hereof-sperifyirrg: (1) the btesch: (2) the action
required to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower, by which such
breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may t•esdt in
accekration of ibe sutra secured by this 1tortRage. foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Brrrower of the ri4ht to reinstate after acceleration and tht right to assert in the foreclosure proceeding
the trop-a:iStence of a defauR or any other defense of Borrower to accekration and foreclosure. If the breach is not cured op
or before the date specified in the notice. Lender at Lender's option may declare al! of the sums secured by this Mortgage to be
immediately due acrd payt?bk without further demand and may foreclose this Mortgage by judicial proceedint. ti.ender shall
be entitled to collect in such proceeding all expenses of foreclosure, including. but trot limited to, reasonabk attorney's fees.
and coats of documentary evidence. abstracts and titk reports.
19. Borrower's Right to Reinstate. Notwithstanding Lender's aclcleraUon of the sums secured by this Mortgage.
Borrower shall have the right to have am proceedings tngun by I.cnder t~ enforce this Martgage discontinued at any time
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