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Lenders written agreatgortt a applecabk law. Borrower shall pay the amount of cep mortgage iasuranoe premiums in the ' t
manner provided under paragraph 2 hereof. ~
Any amounts disbursed by Lender pursuant to this paragraph 7, with iaterost thereon, shall become sdditional
indebtedness of Borrower secured by this Mortgage. Unkst Borrower and Len¢'ar agree to other tetra o[ payment. such ~
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest ir+oas the
date of disbursement at the rate payable from time to time on oubtanding principal under the Note unless payment of
interest at wch~rata.would contrary to applicable law, in which event such amounts shall bear interest at the highest rate ~t
permisdble under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expema or take ,
.any action herwader.
>L )lprsctlen. Lender may. make or cause to be made reasonable entrees upon and inspections of the Property. provided i
that Lender shall give Borrower notice prior to any such inspxtioa specifying reasonable cause therefor related to Lender's
interest in the Property. '
Ceaiertarnde~. 'T'he proceeds of any award or claim for damages, direct or eonsoquential. in connection with any
condemnation or other taking o[ the Property. or part thereof. a for conveyance in lieu of condemn:lion. are hereby assigned '
and shall bs paid to Lender.
In the evert o[ 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 Lander
otherwise agree in writing. them :hall be applied to the sums xcured by this Mortgage such proportion of the proceeds ~
as is equal to tfrat proportion which the amount of the sums secured by this Mortgage immediately prior to the .date of ~
taking bean to the fair market value of the Property immediatety prior to the date of taking, with the balance of the Proceeds
psid to Borrower.
If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower faih 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 Lander and Borrower otherwise sgree 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 o[ a'
such installments. E
Tiorrower Not Rekasci. Extension of the time for payment or modification of amortization of the sums sectmd
by this Mortgage granted by Lender to any succesoor in interest of Borrower shall not operate to reksse. in any manner.
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to canraence
proceedings ~ against such wocazsor or refuse to extend time for payment or otherwise modify amortization of the :mra
secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
11. Forbearance by Leafier Not n 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 fazes 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.
l2. Remeiia Cgrahtlte. 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 concurnntty, independently or sucxessively.
13. Sneeaaas aai Asaigas Bonni; Jo6rt rrni Several i.irrbiNq, CsNions. '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 joint and .several.
The captions and headings of the paragraphs of this Mortgage arc 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 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 Lender as provided herein. and
(bS any notice to Lender shall be given by certified mail. return receipt requested, to Lender's address stated herein or to r
such other address az Lander 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. Uniform Mortgagee, Governing Law; SeverabiWy. This form of mortgage rnmbines uniform covenants for national
use and non-uniform rnvenants 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 rnnflects with applicable law, such conflict shall not affect
~ other provisions of this Mortgage or the Note 'v?rhich can be given effect without the conflicting provision. and to this
end the provisions of the Mortgage and the Note are declared to be severable.
lf. )soes+ower's Copy. Borrower shall be furnished a conformed rnpy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. 1~aaafer of~ibe Propeety: Assaptios. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's 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 Lender
s option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shalt have waived such option to accelerate~if, prior to the sale or transfer. Lender
and the person to whom the Property is to be 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 az Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower's succor 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 declared due. If Borrower fails to pgy such sums prior to the expiration of such period,
i Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
Nox-Urrti=oat~t CoveNr?wrs. Borrower and Lender further covenant and agree az follows:
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lg. Aeeeleratlon; Reareiia. IP.seept ss provided b pmagra*b 17 hereof, Wen lioeower's breach of any covenant or
~ apee>nwt of )ton+swer la this Mortgage, g the covenants to pry when dae nay sae secwei b7' tbfs Mortgage, I.eaier
prior b aecdenrtba sbaB aril aotiee is Borrower,z prowea b psragrWb 14 bersof specifying: (1) the breseb; the adbrr
re~iei is cure sneb iceaelr; (3) i dsle. not ilea tba 30 lays from the date the notice its ntaiflei to Borrower, by wlddr web
bseacb reset be e~s+ei; and (4) that faiias+e to erne web breach on or bdoa the late s*eeliei i• the aotlee racy iesdt i,
aeed~atlon of the sear seenrei by tWs Mortgage, foreelosnre by jr~iciat M~oesedtng sni sale of the PsWeity. 'I1re notice
~ sba8 trrrtber htorm )sorrows of tie right to rye after accelerMion ani the right b sasert i• the toreciosnse pr~sese~¦g
the aon•e:istasee of a aefaait or wl' otberr iefease of lorrower to slccekratioa and forsdosnre. 1(< the 6reaeb r not esrei a
or bdae the iah s*eeYai i. fbe aotke, Lender rat-I.etsier's opbrt gray ieclase aH of the sae sscnrei by this Mortgage to be
ianaciWdy ire aai para6ie witbont f4atlrer ieasnti awl msy foreclose ibis Mortgage by jnikW Leafier ~
be estitlsi to reelect V web prOeaeivs ail ezpeaess of foreclowre, inciading, bat not Ytnitei to reronaMe attoraiy's fees.
ani Dada of ioeuae¦lary eviieaee, aidracte aai title reprls.
. 1!. )torsower's Rlgbt b Rsinelate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
~~x335 P~E18~2