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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the
manner pnwidcJ under paragraph 2 hereof.
Any amounts disMersed by lender pursuant to this paragraph 7, with interest thereon, shall become additional
indehtcdntsc of ikxri+wer s~:curcd by This Mortgage. Unless Borrower and Lender agree to other terms of payment. such
amounts shall he payahk upon notice from tender to Borrower requesting payment Ihereoj. a~td shat! bast interest from the
date of disbursement at the rate payahk from tune to time on attstanding principal undey the Note unless paytttent 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 1_ender to incur any expense or take
any action hereunder.
i. las}ectiow. 1_ender may make or cause to be made reasonable entries upon and inspections of the Property.
that i.ender shalt give Borrower notice prior to any such inspection spceifying reasonable cause therefor rslated to LatdePs
interest in the Property.
9. Cowdemwatias. The proceeds of any award or claim for damages, direct or consequential, in oortttection with any
condemnation or other taking of the Property, or paA thereof, or for conveyance in lieu of oondemwation. art herby atoned
and shall be paid to Lender.
in the event of a total taking of the Property, the proceed: shall be applied to the sums secured by Axis Mortgage.
with the excess. if any, paid to Borrower. in the event of a partial taking of the Property. unless Borrower and Lowder
otherwise ague in writing. (here shall be applied to the wms secured by this Mortgage such proportion of the proceeds
as is equal to that proportion wfiich 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, with the balance of the pr~noeeds
paid to Bortnwer.
if the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor oRers to malts
an award or settle a claim for damages. &•rrower fails to respond to Lender within 30 days after the date such ratite is
mailed. Under is authorized to cMkct and ap~+ly 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
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 Releaser. Extension of the time for payment or moditkation of amortization of the sums secured
`by this Mortgage granted by i.ender to any successor in interest of Borrower shall not operate to rcksse, in any manner,
the liability of the original Borrower and Borrower
c successors in interest. Lender shall not be required to commence
` procesdings against such successor 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 Borrower's successors in interest.
11. Forbearance by Crater Not w Wairrr. Any forbearance by lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall not be a waiver of or preclutk the exercise of any such right or ranedy.
The procurement of insurancepr the payment of taxes or other liens or charges by Lender shall not be a waiver of I,endet's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Reaudies Coarwhttire. All remedies provided in this Mortgage art distinct and cumulative to any other right or
rcmcdy under this Mortgage or afforded by law or equity, and may be exercised concurrently. independently a successively.
' 13. Swcceasors awd AssiRws boawr; ~Jdwt aar Several i.irrMMtyt Csptlerts. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inttrc to. the respective successors and assigns of Lender apd Borrower,
subject to the provisions of paragraph l7 hereof. All covenants and agreements of Borrower shall be joiry and several.
The captions and headings of the paragraphs of this Mortgage arc for convenience only and arc not to be used to
interpret or define the provisans 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 he given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such dher address as Borrower may designate by. notice to Tender as provided herein. and
(b) any notice to Lender shall he given hY certified mail, return receipt requested. to Lender's address stated hereein 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. Uwitorm MoAgage: CorerwinR Law; SererabiGty. This form of mortgage combines uniform covenants for national
~ use and nonuniform covenants with IimitcJ variations by jurisdiction to cotu;titute a uniform sxurity instrument eoverirtg
~ veal property. This 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 affect
~ other provisions of this Mortgage or the Nnte which can be given effect without the oonAicting provision. snd to this
end the provisions of the Mortgagt and the Note are declared to he severable.
tf. 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.
E 17. Trswdrr of the troPerty; Assarwptiow. If all or any part of the Property or an interest therein is sold or transferred
E by Borrower without Lender
s prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. tb) the creation of a purchase mc?ney security interest for household appliances, (cl a transfer by devise.
descent or by operation of law upon the death of a joint tenant or tdl the grant of any leasehold interest of three years or less
not containing an option to purchase, Lender may. at Lender i option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate it, prior to the sale or transfer.' Lender
and the person to whom the Property is to be so1J or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest pay~bk on the sums secured by this Mprtgage shall be at such rate as Lender
j 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 Note.
If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in aceordattce with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
1 which Borrower may pay the sums declared due. It Borrower fails to pay arch stems prior to the expiration of such period,
Lender may, without further ndice or demand on Borrower. invoke any remedies permitted by paragraph lg hereof.
Norr-UNIFORM CovErvarns. Borrower and Lender further covenant and agree as [ollown:
la. Accelcratiow; Rearedka. l?xeep as provider i• peagra/b 17 hereof. trpw borrowers breach of say corertawl K
~ agrecsstwt of Borrower V ebb MtxtgaRe. hxlwrirtR the tortmaNs to py whew rwe any stows setwrer 67' ebb MortgsRe. lawrer
~ prbr b accekrwtbw shag wtail aotke to borrower as prorird M pragryh 11 hereof speityiwg: (i) the breach: t21 the setiow
required to care sash breach; (3) a date. wet less thaw 30 days frotw the rate the wotke r twafiled M borrows. by wfddt swell
beech ~tM be ctKed: awd (1) Ittat fsibrre to core sash brcaclr a o< before the date speeibed b the wotke stay rttstrf iw
' :<cderatiow of the reenter secercr by this MortRaRe~ fet'ecloswre bf i~ir preeaedMtg awes sale e< the Tee~ertr. 71re wetke
~ shaB further iwfonw borrower d the r~;M to reiwteMe after setekrNiow swr the riglM Is assert h the fertttl.wr+t peeeee~wg
tie raw-exi6tence of a defarrN or awy other reterne of borrower tw atcelerMiew awl fereclorwee. N the breach is wet eater e~w
or before the dNe gecilkr irr the wotice. Lewder at I.rrrrer's e~tMw say reesare ab et the stewts stKwrer ~ tbls MoApRe be
iwmcdiatcly due swr pyabk without farther demand awd feast forrelose eb4 Mertg~ge b7' jwditW ~roeeedtwR. Lender Ahab
be ewtititr to eoNtet a soelt'r+ocerdiwR aw expewses of forecloses. iweltdittg. bat wet YtMltr te. reasowabse atl.xeetr's fees.
artd torts of doetrrweNary~ridewce. abstracb awes title reports.
19. bornorer's Rf~ltt to Reiwstate. Notwithstanding Lenders acceleration of the sums secured by thts Mortgage.
Borrower shall have the right to have any proceed~nec beWm by Lender to enforce this Mortgage discontinued at any time
$342 P~13T9
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