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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
~mannerspravided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender ague to other terms of payment, such
amounts shall be payable upon notice from lender to Barmwer requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from time 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 amounts 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.
8. inspection. 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. Coademnatbn. The proceeds. of any award or claim for damages, direct ar consequential, in connection with any
condemnation ar other taking of the Property, ar part therrnf, or far conveyance in lieu of condemnation, are hereby assigned
and shall be paid to Lender.
In the event of a fatal 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 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 pricer 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 l
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 Lenders option, either to restoration or repair of the
Property or to the sums secured by this Mortgage.
Unless [-ender 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 insiaiiments.
10. Borrower Not Released. Extension of the time far pa}•ment or modification of amortization of the sums secured
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 r+egrrired to commence
proceedings against such successor or refuse to extend time far payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made b}• the ariQinal Borrower and Borrower's successors in interest.
11. Forbearance by lender Not a Waiver. Any forbearance M Lender in exercising any right or remedy hereunder, o-
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 tares or other liens or charges by Lender shall not be a waiver of Lenders
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies Cumulative. 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. t
13. Successors and Assigns Bound; Joint and Several f.iabr7ity: 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 arc far convenience only and are not to be used to
interpret or define the provisions hereof. .
l4. 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 b}• certified mail addressed to Borrower at
the Property Address or at such other address as Borrower ma}• designate by notice to Tender as provided herein, and
(b) any notice to Lender shall be given by certified mail. return receipt requested, to i.ender s address stated herein or to
such other address as Lender ma}• designate by notice to Harrower 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. :
15. Uniform Mortgage; Governing law; Sewerability. This form of mortgage combines uniform covenants for national ;
use and non-uniform covenants with limited variations h}• 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 i; located. In the
event that any provision or clause of this Mortgage ~r the Nate 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, 2nd to this
end the provisions of the Mortgage and the Note arc declared to be 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. Transfer of the Property; Assumption. If all ar any pert of the Property or an interest therein is Bald ar transferred
by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (h) the creation of a purchase money securit}• interest far hoiisehald appliances. (c) a transfer by•devise.
descent or by operation of law upon the death of a joint tenant ar (dl the grant of any leasehold interest of Three years or less
not containing an option to purchase. Lender may. at I_ender'c option, declare all the sums secured by this Mortgage to be
immediately due and payable- 1_ender 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 IRnder and that the interest pa}•able 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. [-ender 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 perooc! 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 such sums prior to the expiration of such period,
[-ender may. without further notice or demand on Borrower. invoke any remedies permitted by paragraph I R hereof.
NoN-UrttFORnt CovEKetwrs. Borrower and Lender further covenant and agree as follows:
18. Accekratioa; Remedies. Except as provided is paragraph 17 hereof, neon Borrower's breach of any co~eaant_ or
agreement of Borrower in this Mortgage, inciudirrg the covenants to pay when due any sums secured by this Mortsa=e, Leader
prior to accekratioa shall mail trotice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure snob breach; (3) a date, not less than 30 days from the date the notice is maBed to Borrower, by wbkb sac6
~ breach mast 6e cured; and (4) that failure to cure such breach oa or before the date specised io the notice may trestilt is
t acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Borrower of the right to reinstate offer accekrotion and the right to assert is the foreclosure ptruceediaa
ibe aoatxisteace of a defauk or nay other defense of Borrower to acceleration and foreclosure. If the brescb is not cnrtd oa
or before the date speciRed in the notice, Lender at Leader's option awy decbue all of the mars secured by this Mortgage to be `
immxdiately doe and payable witboot farther demand and may foreclose this Mortgage by jndkial proceeding. Lender shall
be entitled to cogect is snob proceeding s0 a:peases of •foreclosure, including. but not limited to, reasonable attorney's fns,
and costs of documentary evidence, abstrscts and title reports.
19. Borrower's Right to Rennstatt. Notwithstanding Lenders 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
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