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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premituns in the
manner provide:! under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of BOrrONCr secured by This Mortgage. Unksc Borrower and !.ender agree to other tertlu Of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shalj bar interest from the
date of disbursement at the rate payable from time to time an artstanding principal under the Note unless pa~rttwt oft
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest gate
permissible under applicable law. Nothing contained in this paragraph 7 shall require i.ender to itteur any experae or take
any action hereunder.
laapectloa. Lender may make or reuse to be made reasonable enU•iec upon and inspections of the Property. provided
that lender shall give Borrower notK~e prior to any such inspection specifying rcasanabk cause therefor related to Larder's
interest in the Property.
9. Cowdewaatba. The praceedc of any award or claim for damages. direct or consequential. in eorrneetloa with any
condemnation or other taking of the Property, or part thereof, ar for conveyance in lieu of condemnation. are hereby assigtced
and shall be paid to Lender.
In the event of a total taking of the Property. the proceeds shall he applied to the sums secured by this Mortgage. -
with the excess, if any, paid to Borrower. In the event of a partial taking a[ the_ Property. unless Borrower and Lender
otherwise agree in writing. there shall be applied to the sums secured by Chic Mortgage such proportion of the ptooeedt
as is equal to that proportion v?•hich 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 Bor:ower. ar if. after notice by lender to Borrower that the condemnor oRers to make
an award or settle a claim far damages. Borrower fail, to respond to 1_ender within 30 days after the date such notice b •
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 writing. any such application of proceeds to principal shall not extend i
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[ .
such installments.
1!. Borrower Nof Released. Extension of the time for payment or modification of amo»ization of the sterns secured •
by this Mo»gage granted by lender to any cucceccor in interest of Borrower xhall not operate to rcksse, in any manner. '
the liability of the original Borrower and Bc?rrawcr i srrccessorc in interest. 1_ender shall not be required to commence
proceedings against such successor or refuse to ectend time for payment or otherwise modify amo»ization of the sums
secured by this Mo»gage by reason of any demand made by the original Borrower and Borrower's wccessors in interest.
ll, lirorbeuawce by Leader Nof a Wsirer. Any forbearance by tender in exercising any right or rtnredy heretutder, or
otherwise afforded by applicable law. shall not he a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mo»gage.
12. Rtrwedks CtrwahMve. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under-this Mortgage or afforded by law -ar equity, and may be exercised concurrently, independently or srrcoes:ively.
13. Sacceaors cad Assigns Found: Aoiat sad. Sererd I.isbilitr; Cspdows. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inrrr~ to. the .respective successors and assigns of Lender spd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jattj and several.
The captions' and headings of the paragraphs of this Mo»gage are for convenience only and are not to !k used to i
interpret or define the provisions hereof.-
14. Notke. Except for any notice required under applicable law to be given- in another manner, (a) any ratite to '
Borrower provided for in this Martgaee shall be given by mailing such notice by certifkd mail addressed to- Borrower. at
the Prope»y Address or at such' other address as Harrower may designate by notice to i.ender as provided herein, and '
(b) any ratite to Lender shall br given- by certified mail, return receipt requested. to Lender's 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. Ualform Mortgage; Governing Law: Severabifity. This form of mo»gage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform axurity 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 this Mortgage or the Note conflicts wish applicable law, such conflict shall not afleet
other provisions of this Mortgage or the Note which can be given effect without the confliMing provision. and to this
end the provisions of the Mortgage and the Nate arc declared to be severable.
lei. Iorrower'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:.Trswder of the Property: Assumptiow. If all ar any pan of the Property or an interest therein is sold or transferred
by Borrower without Lenders prior writrrn consent. excluding (a1 the erecter of a lien or encumbrance wbordinate to
this Mortgage, (b) the crcatran of a purchase money security interest for household appliances, (c) a transfer by deuce,
descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three yeah or less
not containing an option to purchase, Lender may, at Lender c option, declare all the .sums secured by this Mortgage to be
immediately due acrd payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lenrkr }
and the-person to whom the Property is to be so1J ar transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the inten-st payable on the sums secured by this Mo»gage shall be at :tech rate ac Lender
r shall request. f[ Lender hu waived the option to accelerate providedrn this paragraph 17. and if Borrowers successor in
interest has executed a written auumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obligations under this Mo»gage and the Note.
It Lender exercises such option to accelerate, Lender shall mail Borrower notice o[ acceleration in accordance with
~ paragraph 14 heroof. 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 serch sums prior to the expiation of such period,
~ Lender may, without fu»her notice or demand on Borrower. invoke any -remedies permitted by paragraph lft hereof.
Not+-Urrtt=aent Covenarrrs. Borrower and Lender fu»her covenant and agree a~ follows:
1i. Aeederatit>~ R:wtedks. B:ceps r provided b paragrspb l7 fiKreef. trtoa •orrrrver's breaeb of awe c+rewaat K
agreeacewt of ¦errrywer d Mtis Mort;age, laccladittg the coveaarNs fo pay whew dtre.sar saris seetcretl i>y grit Morgptge. t.ewder t
prior b aeeeierNltaa slant ttcdl aotke to Rorr+owcr ss pro•ided lw psragrspb 14 hereof speeYrlagr (1) Mee btewefa: (2/ Ue aetlsw -
! tnt~airad b effete web breack (3) a dMe, wet loo thaw 30 dsrs crow the date ttte aotke i. ttsallei b iotrrewer. b wbvr ssteb
btraelr ttutt be ettre$ awd (4) fiat taibrro b can web breach ow a< before Mee date speeliei V the sofiee ear recant fin
t sceekratlsw oft 1be wars stxared br Mtfa Mortgage. Iotcciosare br proeeed6r~ awi ale of the fhoperty. 71e wstke
€ sdtafl fttrtirer bttorwc lorr~ower of the riRM b reiwstsfe after aecekrMlow awd the right b aoteA i• Mee forteiaate psatoeig
~ - fire wow.t=ittptee oft: defsaM or say other ttetease of Qorrowtr to aceelerNfbw awd torrztlostcrt. R Mee Dnseb Y aef etrtltt N
or bdore Mee dale geefAd r the wotke. Lewder at leaders option w!h' declare ant of flee wws created h' lMt 1Norfss)pe Ir k
iwweifaiely dwe aai paraftle wiHatct fw7ber demand awd war fereclat !hit Mortgge br jitrdleial ptraea~edlaR. i.eade? droll
be ewdtle~ b eereet V sweb preeecdiag ant a:peaces of forccbsrrre. btcladiag. bwt rant Bwifad b. rewctaMe stturwer's lea.
sttsi eeNs of daea-tweahq erWewee, sbstcoeft awd fitk rcpotb. '
Itorrowa's Right t• ReMcstate. NotwithstandinE Lenders acceleration of the sums secured by the: Mortgage.
Borrower shall have the right to have any proceedings begun by 1_ender to enforce the Mo»gage discontinued at any time }
8o~x 341 PaCE1060 z
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