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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premium: in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to thin 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 shall bear interest from the
date of disbursement at the rate payable from tune to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amount: 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. ,
11. ira:pecHon. 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 Lender's
interest in the Property,
9. Coademasht?a. 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 strtpa iectrri;d bj 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 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 of
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 condemnor offers 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 the
Properly 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. Eorrower Not Released. Extension of the time for payment or modification of amortization of the sums sect'1+ed
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 interest. Lender shall not be required to commence
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 Borrowcr's successors in interest.
ll. Forbearsace 6y LenderNot a Waiter. 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.
lZ. Remedies CumaWite. 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. Successors and Assigns Bound; Joint and Several I.iabflity; Captions. 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 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 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 i_ender as provided herein, and
(b) any notice to Lender shall be 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 dcemed to have been given to Borrower or Lender when given in the manner designated herein.
l5. Uniform Mortgage; Goreanirag Law; Severabllity. 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 shall not affect
j other provisions of this Mortgage or the Note which 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.
16. lorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof. •
17. 'llaosf'er of the Property; Assnmption. 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, (e) 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 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 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 as Lender
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.
Jf 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 pay wch sums prior to the expiration of such period.
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
Nox-l)NIFORM Covetverrrs. Borrower and Lender further covenant and agree as follows:
a 18. Accekration; Reartedies. Except as provided in pa6raph 17 hereof, npoa Dorrowea's breach of say rnteaant or
agreement of Borrower i• thb Mortgage, incitrdiag the covenauts to py when due say sums secured by Chia Mortgagq Lender
prior to acceleration shalt mail notice to )borrower as provided in pragraph l4 6ercot specityirag: (1) the Brach; (T) the action
required to cave such bresch; (3) s dah, not less than 30 days from the date the ootke b mailed to Eorrower, by whkh such
breach ¦aast be csred; and (4) that tafhare to stare saach brash on or before the date spastics i• the notke may resuik in
sccderatbs of the arms secured by this Mortgage, torecbsnro by jadkial poaasdisg and sak at the Property. '1[1,e notice
~ shall further intor® Eorrower of the rigN to aYia+state titer accderatioa ant the right to assert is the foralostsre proeee~
the rron-existwce of a defank or soy other defeese of Borrower to acceleration std toredowrs. It the breach M not cae~ed on
or before the dste speciled is the notice, Lender at Lender's o~ptbo ®ay declare aft of the.maas secured by fhb Mortgage to 6e
immediatdy due sod pyabk witfwut further demand and 'may forecbse thb Mortgage by jodiciai preceedisg. Lender shall
be atitled to cotltct in such proceeding aD a:pees: of totYClosare, including, hot cot Bmited to, reaaonabie attorney's tees,
sod costs of documentary etidesce, sbstrscb awd title reports:
i 19. Borrower's Right to Reinstate. Notwithstanding Lenders acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedings txgun by Lender to enforce this Mortgage discontinued at any time
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