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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage +nsurance prem+ums +n the
manner provided under paragraph 2 hereof.
Any amounts d+sbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become add+tional
indebtedness of Borrower secured bythis Mortgage. Unless Borrower and Lender agree to other terms of payment, such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereol, 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 shat! 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. IpspeFUon. 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.
B. Condemnation. The proceeds o1 any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, 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 secure:3 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, there shall be applied to the sums secured by thi;~,Mortrjage such prQportion.gf;the prixeeds
as is equal to the! proportion which the amount of the sums secured by this. Mortgage immediately prior to the date of
taking bears to the lair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
pa+d to the Borrower. ` -
II the Property is abandoned by Borrower, or it, alter notice by Lender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower fails to respond to Lender within $0 days after ~e date such notice is
mailed, lender is authorized to collect and apply the proceeds, at Lenders 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 t and 2 hereof or change the amount of
such installments.
1 O. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by th+s Mortgage granted by lender to any successor in interest of Borrower shall not operate to release. +n any manner,
the I+ability of the original Borrower and Borrowers successors in interest. Lender shall not be required to commence
proceedings against Such successor or refuse to extend time fpr payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by theoriginal Borrower and Borrowers successors in interest.
11. forbearance by Lender Not s Waiver. Any forbearance by Lender in exercising any right or remedy hereunder,
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 o[ other liens or charges by Lender shall not be a waiver of Lenders
right to. accelerate the maturity of the indebtedness secured by this Mortgage.
1 Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumutat+ve to any other right or
remedy under this Mortgage or afforded by law orequity, and maybe exercised concurrently, independently or successively.
13. Successors.and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements
herein contained shall bind, 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
~o~nt and several. The captions and headings of the paragraphs of this Mortgage are for covenience only and are not to be
used to +nterpret or define the provisions hereof.
14. Notlcs. 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`5uch notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
Ib) any notice to Lender shall begiva?n by certified mail, return receipt requested, tQ Lenders 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.
1 Uniform Mortgage; Govsming Law; Severability. This form of mortgage combines uniform covenants for
naLonal use and non-uniform covenants with Dmited variations t3yjurisdiCtltNY'tQconstitute a uniform 3@Ct{ryyinstrument
covering real property. The state and local laws applicable to this Mortgage stial?be the IaJ~{s of the jurisdiction in which
the Property is Located. The foregoing sentence shall not lima the appGcab~lily of federal law to,th~s mortgage. In the event
that any provis+on or clause of this Mortgage or the Note confl+cts with applicable Law. such conflict shall not affect other
provisions of lh+s Mortgage or the Note which can he g+ven effect without the conflicting provision, and to th+; end the
provisions of the Mortgage and the Note are declared to be severable.
16. Borrower'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.
t 7. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lenders prior written consent excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase 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 (d) the grant of any leasehold interest of three years or less
not containing an option to purchase. Lender may, at Lenders option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate it prior to the sale or transfer, Lender
and the person to whom the Property is to tie 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 Borrowers successor in
interest has executed a written assumption agreement accepted in writing by Lender. Lendershafl release Borrowerfrom all
obligations underlhis-,Mortgagees tt~e 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 that 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. If Borrower faits to pay such sums prior to the expiration of such period,
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof,
NON-UNIFORM COVENANTS. Borrower arid Lender further covenant and agree as follows:
18. Acceleration; Remedies. Except as provided In paragraph 1T hereof, upon Borrowers breach of any
covenant or agreement of Borrower In this Mortgage, Including the covenantsto pay when due any sums second
by this Mortgage, Lender prior to acceteratlon shall mall notice to Borrower as provided In paragraph 14 hereof
specifying: (1) the breach; (2) the action required to can such breach; (3) ~ date, not less than 30 days from the
date the notice is mailed to Borrower, by which such breach must bs cured; and (4) thatfallursto cure such beach
on or before the date specified In the notice may nwlt in acceleration of the sums secured by this Mortgage,
foreclosure by judicial proceeding and sale of the Property. The notice shall furtherintorm Borrowerof the right to
ninstats after acceleration and the right to assert in the fonClosun proceeding the non-existence of a default or
any other defense of Borrower to sccelsatlon and foreclosure. If the breach Is not cured on or before the date
specified in the notice, Lender at Lenders option may declare all of the sums second by this Mortgage to be
immediately due and payable without further demand and may foreclose this Mortgage by judlctal proceeding.
Lender shall bs entitled to collect In such proceeding all expenses of foreclosure. including, but not limited to,
nasonsbls attorneys fees, and costs of documentary evidence, abstracts and title reports.
19. Borrowers Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by th+s Mortgage.
Borrower shall have the right to have any praceedings begun by Lender to enforce this Mortgage discontinued at any time
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