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l.rnder's written agreement or applicable law. Borrower shall pay the amount o[ all .mortgage insurance premiums in the
manner provided under paragraph 2 heroof.
Any amounts dishursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional i
indebtedness of ~iarrawer secured by this Mortgage. Unlecc Borrower and LenJer agree to other terms of payment, such
amounts shall he payable upon notice from I.cndcr to Borrowtr requesting payment thereat, and shall bear interest from the
'date of disbursement at the raft payable tram time to time on outstanding principal under ~lte Ndtt 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. Nalhing contained in This paragraph 7 shall require lender to incur any expense or take
any action hereunder. '
S. Itta'eetiow, tinder may make ar cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower muKY pricer to any strcli inspection specifying reasonable cause tht~efor related to Lenders ,
interest in the Property.
9. Cowdetwtatitnw. The proceeds of any award or claim for damages, direct or consequential. in connection with any j
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condannation. are hereby saigrted ~
and shat! be paid to Lender,
In the event of a total taking of the Property, the proceed: shall be applied to rtes sums secured by this Mortgage.
with the excess, if any, paid to Borrower. In the event of s partial taking of the Property. unless Bomnvrer and Lender
otherwix agree in writing. 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 bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
paid la $ottower.
if the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor otters to make
an award ar settle a claim for damages, Harrower fails to respond to Lender within 30 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds, at !.enders option, eithtr to restoration or repair o[ 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 mot?thly installments referred to in paragraphs 1 and 2 heroof or change the amount of ~
such installments.
10. Borrower Not Rekmed. Extension of the time for payment or modiRcation of amortization of the sutras secured ~
by this Mortgage granted by Lettdrr to any- successor in interest of Borrower shall not operate to rckax, in any manner,
the liability of the original Borrower and Harrowers successors in interest. Lender shall not be required to commence
proceedings 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 Borrowers successors in interest.
11. Rorbearawee hl' Lender Not w Wairer. Any farbearance by lender in exercising any right or remedy hereunder, or
otherwix afforded by applicable law, shall not be a waiver of or proclude the exercix of any such right or remedy.
The procurement of insuranceQr the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate the matunfy of the indebtedness secured by this Mortgage.
12. Reatedks Cwashtfire. All remedies provided in this Mortgage arc dntinct and cumulative to any other right or
remedy under this Mortgage or aBarded by law of equity, and-may be exercised concurrently, independently or successively.
' 13. Swecessors awl Adgws Souwd; -Joiwf awl Serenl i.is6iwy; Csptiows. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inttrc to. the rcspective.successon and assigns of Lender acrd Borrowtr, t
subject to the provisions of paragraph 17 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 are not to be used to
interpret or define the provisions hereof.
. 14. Notice. Except for any notice rcgttired 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 certitkd mail addressed to Borrower at
j the Property Address or at such other address as Borrower may designate by notice to i.ender as provided herein, and
(b) any notice to Lender :hall he given by certifieel mail. esteem 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 Harrower or Lender when given in the manner designated herein.
' 1S. UwNonw MortgsRe: f;orentiwg Law: Sererabpity. This form of mortgage combines uniform covenants for national
ux and nonuniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
G real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
l event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not aged
other provisions of this Mortgage or the Nate which can be given effect without the conAiding provision. and to this
end the provisions of the Mortgage and the Nate are declared to be xverabk. t
lf. 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. Trswsfer of the Property; Asarwtptiow. 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 ta) the creation of a lien or encumbrance wbordinate to
this Mortgage. (b) the crcattan of a purchase money security interest for houxhold appliances, (c) a transfer by devise, ;
descent or by operation of law upon the death at a faint tenant or (dl the grant of any leaxliold interest of three years or less
not containing an option to pucahax. Lender may. at Lender c option, declare all the sums xcured by this Mortgage to be
immediately due and payable. Lender shall have wrivrd such option to accelerate if. prior to the sale or transfer. Lender
and the person to whom the Property is t.. be call ar transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interrct 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 1T, and if Borrowers successor in
interest has executed a written assumption agreement sccepted in writing by Lender. Lender shall rekax Borrower tram all
obligations under this Mortgage and the Note.
it Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
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. It Borrower fails to pay such arms prior to the expiration of such period.
Lender may, without further notice ar demand on Borrower. invoke any remedies permitted by paragraph lg hereaf.
NoN-UNIFORM CovENANTS. Borrower and Lender further covenant and agree ss follows:
lg. Accdcratios: Reartdies. Except m provider ire pwragraph 1T hereof. wpw Itorrwwer's brcaclt of wwy corewswt or
t agreetwewt of Borrower b fhb Mortgage. bxlwliwg the corewawts to Ps1 whew awe swy sttuws secured sy fhb Mortgage. iewder
P prior to accelerstbw shall rwaY wotlce to Borrower ss'rorfdd bi pragtaph 14 hereof s~eclfrbtg: (1) the breach: /Il tbt setiow
r+egtrired to eat such 6rrach;l3) s late. root less thaw 3• nays tr+aw fire dNt the woHce b twsikr b Borrower. by wltkh sweh
btKSCh rwd be ettsrcr: awl (4) that fsiitrrt b erne sttxh breach a ar before the dste geeiieA iw the wMict wuy rtssN b
aecekratiow of the tarras sectutd by fhb Mortgage. hrteloswre ley jw/kial'rottsiiws swi sale of tbt rro/er1y. The wotlce
sbaq twrther iwforw Borrower of the riRM to reiwtaafe steer seeekrstkw awl the right is srert iw the torecloswre frecee~rtg
rtes wottre:btewce of a refatrM or ary other referees of >sorrewer t• aceekrMiow swd tereelawre. N the 6resclt b root ewrtir ow 4
or before the dale spttiRtr h the wotice. Lewder st t.ewder's opMw rwty dtelsre sN sf lire saws setwrtd by fhb MoAgsge to be
itwaxdhtely dire awl pysbk without twrther demand atd wtq /ortelat fhb Maigage by jtrdlcisl /rocsedlwR. Lender shah
be ewtitkd is eoNtef tw sweft procediwg aN espeanes of forscloswre. IweMdisg. bN roof llirwittr fat, ressowabh aft.,reeY's fees.
awl costs o/ doertwewfary stridctt~ct, sbstrscts aced title rtprts.
t l!. •orrowers Rkht to Reidste. Notwithstanding Lenders acceleration of the sums secured by this Mortgage.
' Borrower shall have the right to have any procecdmcs beNm by Lender to enfarce this Mortgage discontinued at any time
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