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Lendei
s written agreement ar applicabk law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner pr~wided under paragraph 2 hereof. .
Any amounts disbursed by Lender pursuant to this patagr:,ph 7. wuh u?trreq thereon, shall became additional
indebtedness of Borrower secured by this Mortgage. lJnless Borrower :,rJ I er~~lrr agree to giber be~rrte of payment, such
amounts shall he payahk.upc~n rn~tice from Lender to Harrower rcyucstine payment thereof. seed s~?all hear interest from the
dale of disbrrrxmtnt 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 crtch amounts Shall hear interest at the highest rate
permissible under applicabk law. Nothing contained in this paragraph 7 shall require lender to incur any expense or take
any action hereunder.
S. htispectiow. Lender may make or cause to he 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. Cotodetauatbw. 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 tool 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 v?•hich the amarnt 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 mate
an award or settle a claim for damages. &?rrower fails t,. 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 optiont`eit~ter~ to~tstontion or repair Of the
Property or to the sums secured by this Mortgage. ~ '
Unless lender and Borrower otherwise a rte in v?•riGnc. an such a pl"cat' `•Q nnci al shall not extend
or postpone the due date of the monthly installmems referred t in ~paragraph~ 1 fand?~~ ° 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 strctxssor in interest of Borrower shall not operate to release. in any manner,
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
proceedings against such wecessor 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 Borrowers successors in interest.
~ 11. Forbearance br Leader Not a Wtlver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwix afforded by applicabk law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insuranceQr the payment of taxes or other liens or charges by 1_ender shall not be a waiver of Lender's
right to accelerate the maturity of the indeMedness xctrred by this Mortgage.
12. Remedies CnmuWive, 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 bt exercised concurrently. independently or successively.
13. Swecessors and Assigws bonwd; Joint awd Sereral i.iabilitr: 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 join) and xveral.
71St 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 regttircd under applicabk 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 wch other address as Borrower mav_ designate by notice to lender as provided herein, and
(b) any notice to Lender 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. Uwitorm Mortgage; Governing Law: Ses•erability. 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 h governed by the law• of the jurisdiction in which the Property is located: In the
event that any provision or clause of Chic Mortgage or the Note conflicts with applicable law, such conflict shall not affect
~ 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 he 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. Trwwder of tbt tropertr: Assnmptiow. 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 ofa joint tenant or (d? the grant of any leasehold interest of three years or less
not containing an option to purchax. Lender may. at lender's opaon. declare all the sums secu-ed 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 ar transferred reach agreement in writing that the credit of such person
is satisfactory to tender and that the interest Fayable 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 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 Nutt.
if Lender exercises wch option to accelerate. Lender shall mail Borrower notice of acceleration in accordant. 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 ~:clared due. If Borrower fails to pay 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 I R hereof.
Norv-LJHIFORM CoveNantTS. Borrower and Lender further covenant and agree as follows:
lfi. Accekratbw; Remedies. Except as provided iw pantgrapb 17 hereof. upoe borrowers breach of any covewawt or ;
agreemewt of Borrower iw this Mortgage, iwdudittg Ibe covenants to pity when due awe sums secured by fhb Mortgage. Lewder #
prbr to accekratbw shall mail notice to Borrower as provided Iw paragraph 14 hereof specitriwt: (1) the breach:/21 the sdbw
required to cost such breach; (3) a date. wet less thaw 30 days from Ibe dale the notke b maned to borrower. br whkb stash
btreacb murR be cured: read (4) 1hN failure to cure tweb breach ow or before the date specified iw the wotke may restdt br
aecelerstiow of the soars seeared by ebb Mortgage. tot'ecloswre br jadkitl proceedbtg trod sale of the troperry. The wolke
sW farther iwform borron.er of the right to rciwstNe filer accelerNbw awd the right to assert i• the torecbsttre proteedlwg
the won-existence of a detauk or my other defense of borrower to accelerstiow rued foredosnre. It the breach is not cures ow
or before the date specified i. the wotke. Lender at Lender's optbw war declare rdl of the s>.trta tKnred br ebb Mortgage M be
imtrtediatclr due read parable without further demand and mar foreclose ebb Mortgage br ~rdkW proaediwR. i.ender shall
be ewtitkd to collect br such proeeediwg sq a:penses of foncbwro. iwclndiag. but wet limited to. rcasowabk att.,rnep's fees.
awd costs of docuwtewlrtry eridewce. abstracts and title reports.
19. borrower's RISbY to ReiwstMe. fVotwithstand~ng 1 trader's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedings hetun by Lender to enforce this Mortgage discontinued ~t any time
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