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L.ender's written. agreement or applicable law. Borrower shall pay the amount of all mortgsge insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. shall became additions!
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agt+ol to, r~lertrts of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment therdof."M~f 6ear interest from the
date of disbursement at the rate payahk from time to time on attstanding principal under the Note unless pajrmatt of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the hi~ltest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to ietettr any experae or take
any action hereunder.
ti. lrupecMest. Tender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that lender shall give Borrower rtaice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Costderrtwatiort- The proceeds of any award or claim for damages, direct cx rnnsequential, in oonrtectioa ~ritlt any
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 Larder
otherwise 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 amatnt of tt?c 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 tht condcmttor oRers to make
an sward or settle a claim for damages. Borrower tails Io respond to Lender within 30 days after the dale such notice is
mai:sd, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair o[ the
Property or fn the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extatd
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 Released. Extension of the time for payment or modification of amortization of the starts secured
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 Borrower's 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 oriRinsl Borrower and Borrower's successors in interest.
l 1. Rorrearartce b7' Lewder Nof s Waiver. Any forbearance.by Lender in exercising any right or remedy heretntder, or
otherwise afforded by applicable law, shall not be 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 cfiarges by Lender shall not be a waiver of Larder's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies CaunWive. All remedies provided in this Mortgage are distinct and cumulative to any other right a
remedy under this Mortgage or sftorded by law or equity, and may be exercised concurrently, independently or stteces:ively.
13. Swtcesaas awd AssiRas Isoaad; .lout and Sertral i.abirfy; CaNioas. The covenant: and agreements herein
contained shall bind. and the rights hereunder shall inure to, the respective successors and assigns of Lender sod Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower :!tall be joiry and several.
The captions' and headings of the paragraphs of this Mortgage arc for convenience only and an not to lk used to
interpret or define the provisans hereof. •
lI. Notice. Except for any notice required under applkabk 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 cenifled mail addressed to Borrower at
the Property Address or at such abet address as Borrower may designate by naive to i.ender as provided herein. and _
(b) any notice to Lender shall he given by certified mail. return receipt requested. to Lender's address paled herein or to 4
~ such abet address as Lenrkr may designate by Waite to Borrower as provided herein. Any notice provided for in this
j Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
1S. Uwiforw Mort~c; Goverttirtg Law; Severability. This form of mortgage combines uniform covenants for national a
~ use and rton-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in whkh the Property is located. In the
event that any provision or clause of this Mortgage or the Nae rnnflicts with applicable law. such conflict shalt not aRect
abet provisions of this Mortgage or the Note which can be given eBect without the conflicting provision, and to this
end the provisions of the Mortgage and the Nae arc declared to be severable.
~ if. Ron+ower's Copy. Borrower shall be furnished a conformed roP)• of the Nae and of this Mortgage at the time
of execution or after recordation hereof.
17..Trsasfer of fire lroperty; Asamptiow. if all or any part of the Propeity or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to }
this Mortgage. (b) the creatton of a t?urcbace money security interest for household sppltances, (c) a transfer by devise.
descent or by operation of law upon the death of a joint tenant or (d) the gent of any leasehold interest of three yesn a less
rat containing an option to purchase, Lender may, at Lender's option. declare all the stems secured by This Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale a transfer, Lender
and the person to whom the Properly is to be colt or 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 thle Mortgage shall be at such rate as Lentkr
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowei
s successor in
interest has executed a written autrmption a6reement stxepted in writing by Leader. Lender shall release Borrower from all
obljptions under this Mortgage and the Note.
if Larder exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in sccordanc~ with
paragraph 14 hereof. Such naive shall provide a period of not less than 30 days from the date the notice a mailed within
which Borrower may pay the sums declared due. If Borrower faih to pay wch sums prior to the expiation of such period,
mender may, without further notice a demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
Nor+-Urrtttortss CovENSt~s. Borrower and Lender further covenant and agree as'foHo~ws:
li. Aeetksatlom Reaedfes. EtcceM ss provMei L Mragrapit 17 reseal. ts~ew lMreewes'e rsteads M s+ay cet?ewawt K
agsetwrwt of Itessewer r pds Maigsaje, iweiwdlwg ere covewarrts to pry ttrlters iae awy t>trrrss atewetl b tYs lYtortgage, Easier
psiotr N aoedesapow scar swat wotlce to Bersower m provided m paragsa'It 11 rt~el specit>~S (1) pre rstadt: (21 ere seeistr
segued N ew~a suer rreaer; (3) a daf+e, wet less ptttw 3• days /towt ere cafe pre ¦afiee r wasted N >Iassawer. b wrkr seer
rswdt tract rt etssei; astt N) prof tarwst N crate atsd rsteaeir on w relot: ere dale a'aelretl r tlrtr sotke mq nslt V
~ aec+desdlt>• et Ire swss ase¦ssd r7' ptit Mostgsg~, feaeeloswse b jtettkial !s'oeeetMrtg stwi sale at Ire >rse'erly. 'Ate wepea
aMar taistier iwifitrm retrsewer et ere rtgM a reastMe abet secekrstiow awi Ire trlgw a ttsaest Iw ere teseelaa~se psreeaittr 4
tie wow~exislewee of w delsa.it or scar ether delewae o< >torre+?K a accekralMw awi fesseloaue. N the Nraer r ¦et erased M s
ar rdese ere dale apeefiei r trs estktt. L:wier set [.ersder's ~ saty deelaee nr e[ trs t»sswa sensett r3' lris h1aslRalpt la re
~ i~sedWely iwe awi N:sMe witboal farther demand acrd rosy tesselas tfis Mature rp jt~kW pntesirR• Lewder drat j
rs etrlllkd N retort V arse! pneadirtg r euewses of fosecloawre. Iweltrii~. r.f aN rwriwd fer reaaa.arie ,nwrteYs fees.
ttri eetrls al ieest:eewtary tvNeaee, arstraets awd tick sepsb.
~ 1!. Ressrwa'r Rljtrt f• ReiaMata Notwithstanding Lender's arakntion d the scans secured by the: Mortgage, ,
Borrower shall have the right to have any proceedings begun by Lender to attorce this Mortgage discontinued st any ante
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