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Lender's written agreement or applicable low. Borrower shall pay thr amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts dishtrrsed by Lender pur.uant to this paragraph 7, with interest thereon, shall become additional
indchtednesc of Borrower secun~d by this Mortgage. Unles Borrower and Lender agree to other tongs pf payment, such
amounts shall he payable upon nr,tKr from Lender to Borrower regtteetinq payment thereof; and shall bb~r interest from the
date of disbursement at the rate payahk 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 I:ender to incur any expense or take
any action hereunder.
>R lws*ectioa. Lender may make or cause to be. made reasanabk entries upon and inspections of the Property, provided
that Lender shall give Harrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Cowdemsstiow. 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, a for conveyance in lieu of condemnation. are hereby assigned
and shall be paid to Lender.
in flee event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mottpge.
with-the excess. if any, paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Leader
otherwise agree in writinjt, 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 prior to the date of
taking bean to the fair market value of the Property immediately prior.to the date of taking, with the balance of the proceeds
paid to Borrower.
I! the Property is abandoned by Borrower. or if. after noticr by i_ender to Borrower that the condemnor oRers to mate
an award or settle a claim tar damages. Borrower fair to respond to lender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds. at fender's option, either to restaratian 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 arincipal 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 installments
le. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums sxur+ed
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. i.ender shall not bt 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 o~iRinal Borrower and Borrower's successors in interest.
11. Forbearance by Lender Not a Waiver. Any farl+tarar,ce by Lender in exercising any right or remedy herctmder, or
otherwise afforded by applicable law, shall not be a waiver of or preclude tiie exercise of any such right or remedy.
The pro:trremcnt of insurance f>r the payment of taxes or other liens-or charges by Lender shall not be a waiver of Lender's
right to accelerate the matunty of the indebtedness sccrrrcd by this Mortgage.
12. Reenedks•Camalalire. 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.
' 13. Swccessoa and Assigns Bound: Joist sod Several i.iablility; 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 several.
The captions and headings of the paragraphs of this Mortgage arc for convenience only and arc not to ba used to
interpret or define the provisions hereof.
14. Nofbce. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortga¢e shall be given by mailing such notice by certifkd mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Tender 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. UwKorm MortRsRe; Governing Law: Sererability. This form of mortgage combines uniform covenants for national
trst and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. 'I~is Mortgage shall be 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 afted
~ dher provisions of this Mortgage or the Nate which can be given effect without the conflicting provision, and to this
f end the provisions of the Mortgage and the Note arc declared to be severable.
16. Borrower's Copt. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. Trswder of the Property: Assumption. If all ar any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's pricer written consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creatton of a purchacr money security interest for household appliances. (c) a transfer by devise,
descent or by operation of law upon the death o(a joint tenant or (dl the grant of any leasehold interest of three years 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 v. awed such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is u? be cold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interc.t Fayable on the sums secured by this Mortgage shall be at such rate ai 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, Lender shat) release Borrower from all
obligations under this Mortgage and_the Notc.
If Lender exercises such option to accelerate, (.ender shall mail Borrower notice. of accekratiofs'in accordanc. tcith
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 n: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 1 R hereof.
s
Norr-UNIFORM CoveHxNrs. Borrower-and Lender further oovrnant and agree as follows:
IS. Accelerstforr: Remedies. B:cep as provided iw psragraplr 17 berteof, ~w Borrowers breach of nay cotttrarrt ar
~ agrccmewt off Borrower iw ebb Mortgage, includirrR the coresaMs to py whew due mry sums secured by fhb Morgtage. lewder
'riot ro accelentbw shag mail aotke to Borrower as provided Irv paragrsph /4 hereo[ spccNyiag: (1) the brtracb:l2) roc st:tlow
tKgoired to serve stscb brracb; (3) a date. not fiess thaw 30 days from the dste the wotiee it maNed to Borrower. by wbklt+ stub
btteacb mwt bt cored: asd (4) that failure to erne swcb breach ow or before Ibe dMe speeifisd h the wMlcs nay resdt b
seesktratioa of the sums ttccturd by ebb Mortgage. hreclosrrrr by jtr~cial pr+oceedirrg swd sale eff the rroperty. 'Ilte setke.
shat hrtbcr iwtorrw Borrower of the riRM to reiwstate tlter seceieratiow awd the right b assert iw the foreciawa proetetlrtg .
tic won-a:istence of a detaWt or arty other de/ease of BorTOwer is aceekrMiow awd toreelowre. N dre brescb k wof etrN ow
or before the date spccibed 6r the wotke. Lender at l.ewder's apiow way dechre aB o< lot ttwrwa sccwrsd h' ebb Mortgage No fse
imwtedistdy dtre swd payable wi1W?ut tdrther dcrnand and may forselose foie Mortgage by jtrikW proceeding. I.rrrder•chap
be etpiskd to edleet d streb proceeding a8 expenses of foreclosttn. iwcla~diwg. bed wet fiimited t0. rsarowabk sttureev's fees.
awd casts of doewwxNary etidewce, abstracts and lisle rsports.
1!. Borrower's Rf~ltt to Reinstate. Notwithsrandmg Lenders acceleration. of the sums secured by this Mortgage.
Borrower shall have the right to have any procecdin~ec bey~n by Lender to enforce this Mortgage discontinued at any time
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