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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts dishursed by Lender pursuant to this paragraph 7. with u,tcrest thereon, shall become additional
in.kbtedncsc of Borrogcr secured by this Mortgage. llnlc~c &NrI~NCr ;red IrnJer agree to other terms of payment, such
amot,ntc shall be payable upon notice from (.ender to Borrower rcgrrcctinR payment the~yttti shall bear inkrest from the:
dale of disbursement at the rate payahk from time to time at outstanding prgtCip~~ undes \lk Note unless payment of
interest at such rate would be contranr to applicable law, in which event arch amounts shall bear interest at the highest rate
permiuibk under applicable law. Nothing contained in this paragraph 7 shati require i.ender to incur any expense or take
any actiar hereunder.
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. Cowdetawatiow. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, a part thereof, or for conveyance in lieu of condemnation. are hereby atwigrtod
and shall be paid to Lender.
in the etnatt of w 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. 1n the event of a partial taking of the Property, unless Borrower and Larder
otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such proportia? of the proceeds i
as is equal to that proportion which the amatnt 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, wish the balance of the proceeds
paid to Borrower.
if the Property is ahandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make f
an award or settle a claim far damages. Borrower fails to respond to lender within 10 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 lender and Borrower otherwise agree in welfare. any such application of proceeds to principal shat! 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. Borrower Not Rraleased. Extension of the time far payment or modification of amortization of the wms secured
by this Mortgage granted by tender to any successor in interest of Borrower shall not -operate to ukase, in any manner,
the liability of the original Borrower and Borrowers successor in interest. Lender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or othervriu modify amortization of the sums
secured by This Mortgage by reason of any demand made by the original Borrower and Borrowers strmessors in interact.
~ 11. Forbearance by [.ewder Not a Wainer. Any fortrcanrrce by Lender in exercising any right or remedy hercttnder, or
otherwise afforded by applicable law. shall not be a waiver •of or preclude the exercise of any such right or remedy.
The proctrrernent of insuranceQr the payment of taxes or other liens or charges by Lender shall not be a waiver o[ Larder's
right to accelerate the matunry of the indebtedness secured by (hit Mortgagt.
12. Rewredks Ctuaobrfl.e. All remedies provided in this Mortgage are distinct and cumulative to any other right or E.
remedy under this Mortgage or of?ordcd by law or equity, and may be exercised rnncurrcntly, independently or successively. -
• 13. Soccessors awd AssiRos Boars; .lout awl Several i.iabiBly; Captiows. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successor and assigns of Lender gad Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joirv 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 ghee address as Borrower may designate by notice to (.ender as provided herein, and
(b) any notice to Lender shall he given by certified mail, return receipt requested. to [.enders 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 deemed to have been given to Borrower or Lender when given in the manner designated herein.
1S. Uwitorrn Mortgage; Got?erwiwg Lave: Severability. This form of mortgage combines uniform covenants for national _
use and non-uniform covenants with limited variations h~• je,risdiction to constitute a uniform security instrument covering
real property. This Mortgage shall he 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
other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
end the provisions of (tic Mortgage and the Note are 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 tee Property: Assaarpliaw. If ati or any part of the Property or an interest therein is sold or iransterred
by Borrower without Lender's prior writr~n 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 jo,nt tenant or (dt the grant of any leasehold interest of Ihrcc year or less
not containing an option to purchase, Lender may. at Lender i opt,on. declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have v?arved such option to arc~lerate if, prior to the tale or transfer. Lender
and the person to whom the Property is to be colt or transferred reach agreement in writing that the credit of curb person
is satisfactory Io Lender and that the imerrct pyable on the sums secured by this Mortgage shall be at such rate ac Lender _
shall regrxst. If Lender has waived the option to accelerate provided in this paragraph i7, 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. Lender shall -mail Borrower notice of acceleration in accordance vrirh }
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within • i
which Borrower may pay the sums s,xlared due. It Borrower fails to pay such sums prior to the expiration of such period,
Lender may, without further mice or demand on Horrower. invoke any remedies permitted by paragraph t R hereof.
Nor(-UHIfORM COVENANTS. Borrower and Lender further covenant and agree as follows:
tfi. Accekratioo; Rearedia. )E:cepl as provided iw pntgrapA 17 hereof. upon Borrower's ttrracA of awry co>rcwaw! K
agreement of Borrower iw tAis Mortgage. iwdodirrg tine cotenants to py whew dwe swr arras second by tAfs Mortgage. Lewder
prior to sccekntbw shall tnW wotke to Borrower as provided iw parwgrapA 11 hereof spreclffyiwg: (1) the brcacA:12) the sdion
regoired to corn strcA breach; (3) a date. root less flan 30 days from the date the notice M ~ to Borrower. by whicA sod
6rcacA wrosl bt coed: and (1) flat tailors to core socA breach ow or before the date sptcifid iw the rootlet nay rcwlt iw
acceleration of tAe soars ttccorcd by tAis Mortgage. tortclosorr Al' jodkial proeeeahg awl sale of t?c lhoperty. The police
shah farther iatorrw Borrowei of the right to rreirrsWe after accekrNiow awti tAt! right to assert iw tAe torcelesore protet~wg
tAe now-a:istence of a detaok or any other Actewse of Borrower to sccekrotfion awd toreciosrre. N the f)r~rach is root come! err
or before the date speci6el b the wotice. Lewder at t.rnvder's optlow way ate4re aft of the sower steorctl d!' tAfs Mortgage N Ae
imwrcdiately due aaa payable without taAhtr demand gad gay tortciose (Air Mortgage hr joiicW ptreeeedhR. Lender shay
be ewtitled to co0cct L socA proctedirtg aN etcpeases of toreclosare. krclrt~ag. bW rod tarried to. reasowable att.rrwep's fees.
awd costs of doeorneNary etridewce. abstracts and title reports.
19. iorrower's Right to Reinstate. Notwithstand,ng 1 coder s acceleration of the sums secured by th,s Mortgage. ,
Borrower shall have flee right to have any procecd,nec txlun by Lender to enforce thn Mortgage discontinued ~t any time
. g~340 ~P~E 552. .
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