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Lender's written agreement or applicabb law. Borrower shad pay the amount of all mortgage insurance ptetttiutm in the
manner provided under paragraph 2 hereof.
Any amounts disbursed. by lender pursuant to this paragraph 7. with irtttt+gE . shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and lettde~n~res~her terms of paytnertt. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest ft~am the
date of disbursement at the rate, payable from time to time on attstanding 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 law. Nothing contained in this paragraph 7 shall require Lender to incur arty expettss ar take
any action hereunder.
fl. Ittspeeliott. 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 I~ettdePs
interest in the Property.
9. CotsderrrpHou. The proceeds of 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. 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 scarred 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 seaired 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 balantx of the pr~ooeeds
~M to Borrower.
if the Property is abandoned by Bor:ewer, or if. after notice by lender to Borrower that the condemnor olfea to make
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 tlra
Property or io the sums secured by this Mortgage.
LSnkss Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not attend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[
such installments.
10. Borrower Not Relieased. Extension of the tune for payment or modification of amortization of the sums atx:ured
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 Borrower's successor in interest. Lender shall not be required to commertoe
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. Fobbearawce by Lewder Not a Waiver. Any forbearance by Lender in exercising any right or remedy het+antder, 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 tender's
right to accelerate the maturity of the indehtedtxss secured hY this Mortgage.
12. Remedies Cwr+rtaAt?e. 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 :ttecessivellr.
' 13. Swccessors and AssiRws Boawd: Joint and Several I.iabiYry; Captions. The covenants and agreeatertts herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of bender nand Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be join{ and stweral.
The captions' and headings of the paragraphs of this Mortgage arc for convenience only and are not to lk used to
interpret or define the provisions hereof.
14. Notke. Except for any notice rcq~ired 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 certified mail addressed 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 notice to Lender shall he given by certified mail. retain 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
'i Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated heron.
1S. Uwiform Mortgage: Coverwisg Law; Seversb8ity. This form of mortgage combines uniform covenants for national
use and rron-uniform cov~hants with limited variations by jurisdiction to corutitute a uniform security instrument oovtring
real property. ThK -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 shall not al[ect
other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. and to the
end the provisions of the Mortgage and the Note arc declared to be severable.
16. Borrower's Copy. Borrower shall be furnished a conformed cop~• of the Note and of this Mortgage at the tithe
of execution or after recordation hereof.
_ 17..Trsnsfer of the Property: Aswmptiow. if all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lenders prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase money security interest for household applianoa, (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 yeah or less
not rnntaining 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 w•rived such ogion to accelerate if. prior to the sale or 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 utisfactory 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 ogion to accelerate provided in this paragraph 17. and if Borrowers successor in
interest has executed a written assumgion agreement accepted in writing by Lender. Lender shall release Borrower from all
obli;ations under this Mortgage and the Note.
If Lender exercises such ogion to accelerate, lender shall mail Borrower notice of acceleration in sccordancc v?•ith
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice a mailed within
which Borrower may pay the sums declared due. If Borrower fails 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 lg hereof.
NotvUntt=ottut CoveNSrtrs. Borrower and Lender further covenant and agree a follows:
lfl. Aeerls~rstlo~ Remedies. >EarKM as M'oviicd i• Nragra*h 17 tercet. Borro+rss'a Meaett d fay caveMrM K
apeewsent of Borrower r this Ma4gage. kdndbrg Ate earewssfs to awl' whets tine trtsy ssrmo stxwsl r7' tYs Mertptge. iwler
priotr to aceelernlion stall mail wotlce to Borrower ao'rotiiN M prsBrsplt 141tereo[ yoelfyls~ (1) Are rr+ewelt: fr the sctNw
thief to etrre weft kreack (S) • not fins ttaw 30 days trotw the late Ate toetlet: Y ttsttf/sd N Bortwer. r!' which srsck
breaefi ostsot lee ewe ant (4) Irst taihne t. erwe strelt rreseM ew ar before the date s*sci0od V Art notice nay resait r
aecekrsAsw o[ ere totrms crewel itry th4 Mortgage. foredoatre y ltrdkhl ~roeselitt~ ant trale of Ilse Property. Tire nstiee
sfW twfher iwtorm Borrower of Are rigftt w teirashk titer aeeekatiow awd Are siglN to assert lrt Ate tereelwrt pteteat~
~ the .o.-sxi.tenee of s lefanlt or a.y other at:fewoe of Borrower to aeeekrNM. all forrelo.trre. u the rr+eaett r ¦a cs~
or adore Are tale geelied i. ttK.otke. Levier st Lender's optiow rosy leeltMe all of ere haws toettretl b tW Mortsgpe ~ lee
lttsmeiiaMy titre a¦i ~aMc witltotrt fttxtlter demand am rosy tereclae Atis More l?f jtrileYl Nww~R. I~trder doll
k entidstl N eoittet M wek r sst'enses of forecbswe. ineitrlisg+ fwt nst Bwsilsl M. reasswsMtr sttwwetr'a fen.
a¦i cssb of ioe.-~awhry eviienee. aMtrsets tttsd title treMrb.
lf. Bonowa's Rt~Itt f. Reiashte. Notwithstanding Lenders acceleration of the sums secured by thn 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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