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.Lender's wriuen agreement or applicable IQW. Borrower shall pay the amount of all mortgage insuran e•~ p ~ lams in the •
manner provided under paragraph 2 hereof.
Any amounts dichurscd by Lender pursuant to this paragraph 7, wuh +ntrrrct thereon, shall htcame additional ~
in~lehtrdness•uf Harrower secured by this Mortgage. l)nless Hurrukcr :,r.l 1 cn~ler agree to other terms of payment, such
amounts shall he payahlt upon notice from I.cnder to &~rn~wcr reyucctinK payment thereof. and shall hear interest from the
daft of disbtrrsemtertt? M rtAei role payable from lime Io titre on outstanding principal under the Nate unless payment of '
interest at such rate wou d be contrary Io applicable law, in which event ,such amounts shat) hear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall regrrirc Lender to incur any expense or take
any action trercutrder.
8. lwspectiso. i.endtr may make or cau.c to be made reasonable entries tr nand ins ~
that Lender shall give Borrower notice rinr to an such ms p° pections of the Property. provided
interest in the P p y pection specifying reasonable cause therefor related to Lender's
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9. Cowdemmtbw. The proceeds of any award or claim for damages, direct ar consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. arc 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 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 applied ro the sums sccut+ed 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 Jf '
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the pt+ocerJs
paid to Borrower.
If the Property is ahandoned by Borrower, or if. after notice by i.ender to Borrower that the condemnor oRers to make
an award or settle a claim for damages. Borrower fails to respond to Lender within i0 days after the dale such notice is
mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, tither to restoration or repair 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 o[
such installments.
10. Borrower Not Released. Extension of the time far payment ar modification of amortization of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to rcltase, in any manner,
the liability of the original Borrower and Borrowers successors in interest. Tender shall not be required to commence
proceedings against such successor or rcfttse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the ori¢ina! Borrower and Borrowers successors in interest.
~ 11. Forbearance br Lender Not w WaWer. Any fort,earance by 1_ender in exercising any right or remedy herctrnder, 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 Pr the payment of taxes or other liens or charges by Lender shall not he a waiver of Lender's
right to accelerate the maturity of the indeMedrress sectrrcd by this Mortgage.
12. Remedks Csmnlatite. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may he exercised concurrently, independently or successively.
13. Swccessors and Assigws Boawd; John swd Several I.isbtiltr; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inttrc 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 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 fender as provided herein. and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to I.endtr'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 the
Mortgage shall be deemed to have been given to Borrower or lender when given in the manner designated herein.
1S. Uniform Mortgage; Governiwg Lav?; Severabilit}•. This form of mortgage combines uniform covenants for national
rise and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property_ This Mortgage shall h 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 Nate conflicts with applicable law, such conflict shall not afkd
other provisions of this Mortgage or the Nnte which can be given effect without the conflicting provision, and_ to•this
end the provisions of the Mortgage and the Note are declared to t?e severable.
16. Borrower'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. Ttrawsfrr of the PropMr: Assumption. if all or any part of the Property or an interest therein is sold or trtnsferred
by Borrower without Lender's prior writr~n consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creatron of a purchase _ money security interest for household appliances. (c) a transfer by devise,
descent or by operation of law upon tote death of a jnrnt tenant or (dt the grant of any leasehold interest of three years or less
not containing an option to purchase, Lender may. at 1_ender'c option, declare all the sums secured by this Mortgage to Ix
immediately due and payable. Linder shall have waived such option to accelerate if, prior to the sak~ or transfer. Lender
and the person to whom the Property is to be colt or transferred reach agreement in writing that the credit of such person
is satisfactory to [.ender and that the interest Fayable on the sums secured by this Mortgage shall be at srrch rare as Lender •
shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers 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. Lenckr shall mail Borrower notice of acceleration in accordance with
paragraph !4 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 o:clared 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 f R hereof.
NON-UNIFORM COVENANTS. BOrrOWer and Ltndtr further COVenanL and agree as follows:
l8. Actekrstiow; Remedies. IBxcept ss provided iw partt~raph 17 hereof. rPa Borrowers breach of oar cotrewawt or
agreemewt of Borrower ie this Mortgage. iwcludirrg the corewsats fo pay whew doe awr sums secured br this Mortgage. Lewder
prior to accckrstba shill mail notice to Borrower as provided iw paragrsph 14 hereof specifying: (1) the breach:121 the aetbw
rrsgwirrd to cure strc6 bresch; (3) w date. not less thaw 30 days from the dste the aotke M mailed to iorrower. br which such
brresch mast be cwred; asd (4) that failare to cwre swch breach oa or before the date specified iw the wotke may rttsrdt i•
sccekratiow of the ssms ttecsred by this Mortgage. toreclosarr br jndkid proceedlag swd sale of the Property. 'ilre wotiee
shall further inform Borrower of the right to reftrstste steer stttrktratbw and the right to assert iw the /ortdossrt proceealwg
the won-existtact of a defauM or any Mher deterrse of Borrower to scceicratiow sad torecbswre. It the breach is act cwred ow
or before the date specified iw the wotke. Larder at Lender's optiow may declare all of the swr>.s secwred by this Mortgage M bt
imrrtedistelr due and psrsble without turiher demand and mar torrclase Mis Mort=sge br jwdicid proccediwR. Lender chap
be entitled to collect Irr swtb proeecdirrg aB t:posses of forecloswre. Iwcladiwg. bwt woe limited to. reasonable stt~?rnep's fees.
swd costs of docwrwewtary eridcwce, abstrscts and lick reports.
19. Borrowers Ri`bt to Reinstate. Notwithctandrny, 1 ender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any' procecd~ngc tx~,r~n by Lender to enforce this Mortgage discontinued at any time
aa~ ~s Pa~E 1107
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