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Lender's written :~grcement a applicabk low. Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any ~amarnts 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 agree so osht;t' teens of payment. wch
amounts shall he payable upon notice from Lender to Borrower requesting payment thereof, and shall dear interest teem the
date of disbursement at the rate payable from time to time on artstanding. principal under the Note unless pa~rtnertt of
interest at such rate would he contrary to applicabk law, in which event such amounts shall bear interest at the highest rate
permissible under applicabk law. Noshing carrtaitred in this paragraph 7 shall require Lender to incur any expense or fate
any action hereunder.
fl. lus'ectiou. 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 I.ertders
interest in the Property.
9. Cotndemnatbn. The proceeds of any award ar claim for damages. direct or consequential, in corrruection with tuty
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 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 sectrrcd by this Mortgage such proportion of the procxeds
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 oA?ers to mate
an award or settle a claim for damages. Borrower fails to respond to lender within 30 days after the date wch notice is
mailed, fender is authorized to collect and apply the proceeds, at I~nder's option, tither to restoration or repair o[ the
Property or to the sum. secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not rattend
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 secured
by this Mortgage granted by [.ender to any successor in interest of Borrower shall not operate to reksse, in any manner.
the liability of the original Borrower and Borrower's successors in intemt. Lender shall not be required to eorrrrrrerroe
proceedings againu such successor or reface to extend time for payment or otherwise modify arrrortization of the sums
secured by this Mortgage_by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Forbearance by Lender Not a Waiver. Any (orhearance 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 r+enredy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not bt a waiver of Lenders
right to accelerate the maturity of the indebtrdness sccttrrd by this Mortgage.
12. Remedies Cumulative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afiordcd by law or equity. and may be exercised concurrently, independently or :uecessivety.
13. Successors sod Assigns Bound; aoist sad Sered ltbbflitr; Captions. The covenants and agreements herein
contained shall bind. and the rights hereunder shall intrr~ to. the respective successors and assigns of Lender apd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower ghats be joirg and several.
The captions ~ and headings of the paragraphs of this Mortgage arc for convenience only and are not to tk used to
interpret or define the provisions hereof.
14. Notke. Except for any notice required 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 such other address as Borrower may designate by notice to 1(.ender 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
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
1S. Uniform Mortgage; Govenriug Law: Severability. This form of mortgage rnmbines uniform covenants for national
i use and non-uniform covenants with limited variations by jurisdiction to corutitute 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
i event that any provision or clause of thin Mortgage or the Note conflicts with applicabk law, such conflict shall not aged
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. Eorwwer's Copy. Borrower shall be furnished a conformed cop~• of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Transter of the Property: Assumption. 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 (al the creation of a lien or encumbrance wbordinate to
this Mortgage. (b) the creattcxr of a purchase money security interest for household appliances. (c) a tramfer 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 yeah 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 Properly is to be cold 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 ac 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
obGSations under this Mortgage and the Note.
If Leader exercises such option to :ccekrate. Lender shall mail Borrower notice of acceleration in accordant.-e with i
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 expiation of such period,
[.ender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1R hereof.
Note-UNtt=oRrK CovENeHTS. Borrower and Lender further covenant and agree as fdbws: '
lfl. Aecdeatba; Reuedies. Except a Provided is parsgryh 17 hereof. tspoa 1ena+rers hrsoeh d gar cove~artt or
agrectweN of Borrower b tWs Mortgage. Mreluiirrg the coverwts to par when tlrtt gay seas secassd ~ Ibis Mortgage. ie~ier
prior b accdcratloa shah waN aotke to 1orrower as rrovNed la'aragraplr 14 hereo[ s~seYrlag: (1) the Meaeh:l2) the actiow
segdred b cure neh breach: l3) • lase, rat las than 30 days troves the date the notice r araBtt1 to Bornwer. by whkh stseh
Mwch mart Ibe eared; gad (4) that failure to cure such Meech os or heta+e the date yeci0ed i. the wotiee trot Insult i.
secderdioa of the woes traured dl' th4 Mortgage. foreclosure fh judlchl lenesedirtg aai sale of the rr+o'ertr. The aetles
shot further iwtorra Eorruwer of the right b reiat4ste after seeeieratiou and the right b assert h the tor+eeiotnrt prateaig
tfe aou~e><istewee of a iefnalt or am other decease d sorro.rer to iccelerdtou and torselooarr. N the Mrxlr r rave etatni ew
or ibefore the dale spociied f• rise wotict, Levier at /.ewder's optbw rsrar declare ant d the gags seeraud rr fhls MertgttRe b k
itrrwediatelr drt atsi prslbk withoM furl rat foreclosua. lachsiiag. fete snot Brufttri rtssoaahle sttstloLrr
e~s tea.
be eatltled to eoYeet d such p~rocee~ag
a¦i costs of doe..~errtary evideuee, abstrsels arsi title repbrls. '
19. somowa's~ Rtglrt to Reinstate. Notwithstanding Lenders acceleration of the sums secured by the Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
8~ 340 PEE 1147 -