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Leader's written agreement or applicable law. Borrower shall pay the amount o[ all mortgage ensurance premiums is the ~
manner provided under paragraph 2 hereof, i
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 bt payable upon notice from under to Borrower requestjng paymgrt ~ercof, and shall bear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under the Note unless paj?tneat of
interest at such rate would bt: contrary to applicable law, in which event such amounts shall bear interest at the hialrest rata
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense a take
any action hereunder...
R lw+grection. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided i
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related b Leader's f
interest in the Property.
9. Cowdewnaatiow, The proceeds of any award or claim for dame direct or co ~
condemnation or other fakir of the tnequential, in connection with any
g 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 the Property, the proceeds shall be applied to the sums secured by this Mortgage,
with the excess, if any, paid to Borrower. in the event of a partial taking of the Property. unless Borrower and Leader
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 o[
taking bears to rho fair market value of the Property immediately prior to the date of taking, with the balance of the ptooceds
paid to Borrower.
if the Property is abandoned by Borrower. or if. after notice by Lender to Somower that the condemnor ofkn to make i
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 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 writinte. any such application of proceeds to principal shall not extend
or postpone the due daft of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. aorrower Not Released. Extension of the time for payment or modifkation of amortization of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to reksse, in any manner,
the liability of the original Borrower and Borrower
~ srccessors in interest. Lender shall not be required to commtnoe
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 Borrower and Borrower's successors in interest.
11. Forbearance br Lerdtr Not s R?drer. 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 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.
12. Rerwedks Caawnlatit. All rcmcdies 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. Sraccessors awd Assigan Sound; Joist grad Se•eral i3abiBly; Captions, Ttie covenants and agreements herein
contained shall bind, and iht rights hereunder shall inrtr~ to. the.rapective successors and assigns of Lender gad Borrower,
subject to the provisions of paragraph 17 hereof. All rnvenants and agretments of Borrower shall be jars and several. _
The captions-and headings of the paragraphs of this Mortgage are for convenience only and arc not to lie used to
interpret or define the provisions hereof. .
14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any ratite to
Borrower provided for in this Mortgage shall be given by mailing such notice by certifkd mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by mice to Tender as provided herein. and
(b) any notice to Lender shall he given by certified mail. return receipt requested, to Lender's address stated herein or to
such other address as Lender may designate by notice to Borrower as provided herein. Any ratite provided for in this
Mortgage shall be deemed to have bcen given to Borrower or Lender when given in the manner designated herein.
1S. Uwiforwr Mortgage; Co•ersisg Lsw; Severability. 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 covering
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 shalt not aReR
other provisions of this Mortgage or the Note which can be given e0ect without the conflicting provision. and to this
end the provisionu of the Mortgage and the Note are declared to be severable.
16. Sorrower's Co*y. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Trwfer of tie >Poperty; Aseosrption. Tf 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 creator of a lien or encumbrance wbordinate to
this Mortgage, (b) the creaticin 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 kasehotd inter~at of three years or less ~
rat containing an option to purchase, Lender may, at Lender's option, declare all the wms sceured by this Mongage to be
immediately due and payable. Lender shall have waived srtch option co aorelente if, prior to the sale or transfer, Lender
and the person to whom the Property is to be cold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the intcr~Kt payable on the sums secured by this Mortgage shall be at such rate as Linder
shall rrgraest. 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 Linder. Lender shall release Borrower from all
obliptions under this Mortgage and the Noce. i
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in acrnrdanct v?•ith
paragraph 14 hereof. Such ratite 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 arms prior to the expiration of wch period,
Lender may, without further notice or demand on Borrower, invoke any remedies pernnitted by paragraph Ifl hereof.
No>r-Untt?atr?t COVt?NAr~iTS. Borrower and Lender further covenant and agree as follows:
li. AccderatiorK Rataeiia. E:rcpt as provNed i• pntgrapi 17 hereof, ~s Sesreass's ireaci of nay eeeaaN er
agreeae~t of Serrewrt~ 4 tW Meattsge. incls~ag the co•esasfs to pay when ise ray wtsrs scnrai i!' rile Mortgage. I.ewier
Mrior b seceierathw sdraB mrdl sotlce to 1on+awer • pro•NeI in~eragrapi• 14 hereof specifyitag: p) tie ireaela;l2) tie wetiow
rgsiod a awe wet keschi (3) • tile, rat lag than 30 days irerrr the date the wotke i. waYe4 N Setrerer. i7' wild sash
ireaci sssot k t:a~ std (4) that taWare b care soicla breech a er k(a+e tie rate speelfiei i¦ fie rsotke ~7 resrlt w
aoeekratiow of lie wr seearerl by tits Morgrtge. toreelosrn b jrrrkW pnseeeafrrg a~/ sale of tie hepertr. Tine entice
slraB terrier irrferw Sorrower of tie riRY to aisstste after aeeeieatlow awn tis right b amen V flat forselaawe pseteeitrg
tie aon•es6laaee at o aeftawk or say Bier de/ewse of Sorrower to actYkratiow awl forecioowre. N tie trench lis trot t:srel es
a< fefore the dMe speYei b tie rsotfce. Lewier at I.esder's opiow wray 4eclrtrt r o< tie soar sa<wsd iy tltiis Mat:iafpe M k
isa0ediaMy are a>.i pya6ie .rNio.t fatter dcstand asd Wray forrrclac rile Mor~sge ti JwdkW Lender dui
ie ewfidei to aeBesY fi ssei'reesedNrg si esperases of foreclossre, isclsiisg. Mt teat ll+rraito/ M, rearawalbie sttwser's fen.
awl tesfr of tf+eca.-~ e•faewee, abstract awd title repro.
1!. Sorsewa's Rlgit tw Reisstate. NotwithstandinE Lenders acceleration of the scans secured by tht• Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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BODX~~ P~GE~~~