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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hlteot.
Any amarnts disbursed by Lender pursuant to this paragraph 7. with interest thereon, shall become additional
inJehtedness of Born~wcr secured by This Mortgage. Unless Borrower arJ Lender agree r#t~1cr temps~fya yrtent, such
amounts shall he payable upon rn~tice from Lender 1Q Borrower rcgtrcstinR payment thcreol~>{rRl shall bearfiAlltMt from the
date of disbursement at the me payable from time to lime on outstanding principal under the Note unless payment of
interest at such rate would be contriry to applicable law, in which event such amounts shall hear interest at the highest rate
permissible under applicable law. Nothing cotrtairied• in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder. ~ ~ • ~
>L ht~ectiow. i_ender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that i_ender shall give Borrower notice prior to any such inspection specifying reasonable cause therotor related to Fender's +
interest in the Property. ~ ,
9. Cotrtlerwwatbw, The proceeds of any award or claim for damages, direct or rnnsequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. aro hereby assigned
and shall be paid to Lender.
in the event of s total taking of the Properly. the proceeds shall be applied to the sums secured by this Mortgage.
with the excess, if any, paid to Borrower. irx the, e~?en1 f f a partial taking of the Property. unless Borrower and Fender
otherwise agree in writing. them shall be applied to the sums saurtd 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 s
taking bears to the fair market value of the Properly immediately prior to the date of taking, with the balance of the proceeds E
paid to Borroser.
if the Property is abandoned by Borrower. or if. after notice by i_ender to Borrower that the condemnor oRers to mate
an award or settle a claim for damages. Borrower fails to respond to lender within 30 days after 'the date such notice is
mailed, I,ender~ic authorized to collect and apply the proceeds, at Lender's option, either to restoration or ropair of the
Property or t~ the sums secured by this Mortgage.
Unless tender 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. Borrower 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 Burrower shall not operate to release, in any manner, f
the liability of the original Borrower and Borrowers successors in interest. Lender shall not be required to commence
proceedings against such successor or refuse to extend tune for payment or othewise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
~ l 1. Forbesrawce by Levier Nat1 s Waher. Any forlxarance by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall rrat be a waiver of or preclude the exercise of any such right or remedy. .
The procurement of insurarrr.•e,~r 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. Remedies Ct~rabtMre. All romedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or aBorded by law or equity, and may be exercised concurrently, independently or successively. ~
' 13. Swecessors and AssiRws laoawi: Jdwt swd 3ereral i.iabitity; Captions. The covenants and agreements hercir~
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 joiry and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be 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 givrn 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 Lender as provided herein, and
If (b) any notice to Lrnder shall he given by certified mail, return receipt requested.. to 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
i Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
1S. Uwiforrw Mortgage; Goreraiwg Law; Severability. This form of mortgage combines uniform covenants for national
F use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering l
real property. This Mortgage shall Ne governed by the law of the jurisdiction in which the Property is located. In the }
I 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 Nate which can be given effect without the conflicting provision. and to this
end the provisions of the Mortgage and the Nole are Declared to be severable.
1f. >dorrower's Co'y. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time (
of execution or after mordation hereof.
~ 17. Trawsfer of the Property: Asswmptiow. 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 appliances, (c) a transfer by devise, Y
descent or by operation of law upon the Death of a joint tenant or (d) the grant of any leasehold interest of three ycan or less
rat 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 a•rived such option to accelerate if, prior to the wle or transfer. Lender ;
and the person to whom the Property is t.~ be solJ or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interc.t Fayable on the sums secured by this Mortgage shall be at such rate ac Lender c
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 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 than 30 days from the date the notice is mailed within
which Borrower may pay the sums r,.xlared due. if Borrower tails to pay such aims prior to the expiration of such period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
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Now-UNIFORM Covt:N~xTS. Borrower and Lender further covenant and agree as follows: ;
ls. Accekrstiow; Remedies. li+.scept as rrovided iw pscagrspb 17 hereof. trpow >don+owers breach of say corewaN or
agreewrewt of Borrower iw tbk Mortgage. incltrdiaR the coreasrrts to py wltKw dire awy swwrs secured by this Mortgage. Leaser
prior Io sccelcrstba shall mail sotke to >dorrower a provided la paragraph 14 hereof specNyiag: (1) the brTSCb:/2) the setbw ,
i regoird to ewre sac` breach; (3) a date. wet less tbsw 30 days from the date the wotke is sraikd to iorrower. ~ wbkb swcb
btteacb .d be eared; awi (4) that fsilwre M core swcb breach ow or before the date speeibed b the wotke gray reap iw
aceelerstiow of the swttas secured by this Mortgage. fa+ecloswre by jeaitis! psac~diag sad sale of -the PragtrlY. Tire wotke . i
strap Portirer iaform aorr~ower of the riRb1 to rrirrsbfe after secekrwtiow sad the right b assert iA the forsclesrrre /roceedrtg !
~ tie aww~exktewce of a iefawN or any fiber iefetise of 11<orrower to accekrstiow sad totecloarre. N the breach is wet cwr+ei ow
r or before the date specified i• the ratke. Ltrrder st I.rrwdes's opiow aay declare r of fire wrest scetrred by this Mortgage b be
imssediattly due awd pysbk witboW twrtbcr demand and rosy foreclose ebb Mortgage by jwdieid pecsediwR. i.ender• chap ~
be ewtitkd to copeet a strcb proceednaR aM expenses of forecloswre. fwctwiirrg. bN wet psitd to. rtssorrsbk stturneY's fees,
awd tests of doctrseMaryeviiewce. abstracts and title reports.
19. •onower's Right to Reinstate. Notwithstanding Lenders acceleration of the sums secured by this Mortgage.
! Borrower shall have the right to have any procetd~ncs beam by Lender to enforce This Mortgage discontinue) rr any time
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