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Lender's written agreement or applicabb law. Borrower shall pay the amount o[ all mortgage insurance premium: in the
manner provided under paragraph 2 hereof.
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 lender agree to other terms of payment, such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and iChal! dqr int4rest fraw the
date of disbursement at the rate payable from time to time on aitstanding principal under the Note un~ss pa~rrtteat 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 take
any action hereunder.
fl. Iwspecfiow. lender may make or cause to be made reasonable entries upon and inspections of the Progeny, provided
that i.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lertder'a
interest in the Property.
9. Cowdewtnatiorr. The proceeds of any award or claim for damages, direct or consequential, in opnrtectiow with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby sssigttt:d
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 Lender
otherwise agree in writing, there shall be appl'ssd 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 the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemrar oRen to make
an award or settle a claim for damages, Harrower 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 rtpair~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
such installments.
10. >1orrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
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 Borrowers successors in interat. Lender shall not be required to corrtrrtertce
proceedings against such successor or refuse 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. Forbearawce by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hetetmder, 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 sectrrrd by this Mortgage.
12. Reaeiks Carwwh>ftie. 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. Swecersors awd Assigws Found: Joiwt awd Serertl T.lsbilify; Captiows. The covenants and agreemnts htrein
contained shall bind, and the rights hereunder shall inttr~ 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 jary and several.
The captions' and headings of the paragraphs of This Mortgage arc for convenience only and are not to ffe 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 notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by crrtifled mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to i.ender 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 notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
1S. UwRorm Mort~e: GorcrwiaR Law: Ssverability. 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 ir. which the Property is located. Tn the
event that any provision or clause of this Mortgage ar the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note which can be given eBect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note arc declared to be severable.
16. Ijon~ower's Copy. Borrower shall be furnished a conformed cop~• of the Note and of this Mortgage at the tune
of execution or after recordation hereof.
17..Trawster of the h~operty: Assnmptiow. If all or any part of the Property or an interest therein is sold or transferred
! by Borrower without Lenders prior writtrn 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,
E 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 Lender's 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 to be cold 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 r+egtrest. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in
interat has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
i oblijations under this Mortgage and the Note.
if Lender exercises such option to.accekrate, Lender shall mail Borrower notice of acceleration in accordance with
e paragraph 14 hereof. Such notice shall provide a period of rat less than 30 days from the date the ratite is mailed within
which Borrower may pay the sums declared due. if Borrower fails to pay such sums prior to the expiration of cuch_period,
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
Nora-Ut+tFOaat Covgtverrrs. Borrower and Lender further covenant and agree as follows: -
la. Accderalio~ Rewteiies. Lscept as provided h paratryh 17 Hereof. apw •oreswass 6reaeh of aq eorewawt or
agreewsewt of lorrower b this Montste, iwe~iwg the eo~eaawfs to ptp whew thye a.y stows seewrti b t6b Morlpgs. I.esier
gibe N aeceierNiow shah ttaail settee /0 lorrewer as'rorldci V psratryh 14 hereof speeltyiat: (1) f6e 6seac6: the setiew
rgwMei M etnre sae6 6reacit; (3) a iatle. wet less thaw 30 days trorw the isle the wotke b wane! M >tasrower. fry whkh sweh
6seae6 wswst be sack awl (4) t6al faibre fo ctm swch Meath a or before tic Gate spaYei V the wotice way resrrlf b
aeceleratlow of the sttwes seewrci by this Mortgage. tosecloswre 6y jwdiclal ~roettiittt awl sale of the irr+o'erry. '11te wotke
sha¦ fwnher b?totnw lostower of the ritN to rciststNe after aeeeieratiow awl tie rlt6t b atwert i• l6e tor+eeloane ~soeeteitwt
tie wow•esWerice of a ietawlt or sy other ietewse of Borrower to accekrMbw awes torecloswre. ill the Mteae6 b wet ewttri a
or before the iMe speeitiei d the tsotke. Lew4er at I.ewiers opiow way declare a1 a< tie stows secttsri ~ t6is MattaRe w fie
iawseiidely iwe awl pyabk wit6owt trMher demand aad way forecbse fhb Montage h' jttiieW /traeteitwR. Lender daN
bt ewfUhti to eoitiect tw stse6 p~occsiiwt ar e:pensa of toreclowsre. fwcltriiat. 6tH west Bwtitei la. reasermiie stt.xrtev's fses.
atsi sods of iosr.-~ewtary eiaewce, abstrseb awl title reprts.
14. Sonowa's Rit6t to RebrAate. Notwithstanding Lenders acceleration of the sums secured by the Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
erox 332 p~cE 212
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