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Lender's written agreement or applicabk law. Borrower shall pay the amount of all mortgaje insurance prcmiurns in the
meaner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall bexome additional
indebtedness of Borrower secured by This Mortgage. Unless Borrowec and Lender agree to other terms of payment, such
amounts shall be payable upon ratio from Lender to Borrower requesting payment thereof. and shall bear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under the NMe unless payttaent of
interest at :uch rate would be contrary to applicable law, in which event such amounu shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall requiro Lender to incur any expettse or take
any action hereunder.
I<. /ttapetios. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable caux therefor related to Lender's
interest in the Properly.
9. Cotrdemtatbn. 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, 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 Properly, unless Borrower 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 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.
if the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offer to make
an award or xttle a claim for damages, Borrower 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 Lenders option, either to restoration or repair of the
Propen}• or to the sums secured by this Mortgage.
Unless Lender and Borrower othtrwix agree in writing. any such a licatjon~f proceeds t~rinotpll shall not extend
or postpone the due date of the monthly installments referred to in pat~iaphs 1 and 2 h4peof,ps.abasge.ihe amount of
such installments. '~ ~ 4 ,
10. >sorrower Not Released. Extension of the time for payment or rtodiAcation of amortization of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to rcleax, in any manner,
the liability of the original Borrower and Borrowers successors in interest. Lender shall not be required to commence
proceedings against such successor or refux 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. Rorbeannce by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwix afforded by applicable law, shall not be a waiver of or preclude the exercix 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 t~-e indebtedness stcttred by this Mortgage.
l2. Remedies Cnmulathe. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity. and may be exercixd concurrently, independently or successively.
13. Successors and Assigns Bound; Joint and Se~~erd i.iabiliry; Csptbas. 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. Ali covenants and agreements of Borrower shall be joint and xveni.
The captions and headings of the paragraphs of this Mortgage are for convenience only and arc not to be used to
interpret or define the provisions hereof.
l4. Notke. 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 be given by mailing such notice by certified mail addresxd to Borrower at
the Property Address or at such other address as Borrower may designate by notice to i_ender as provided-herein, and
(h) any- notice to Lender shall be 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.
IS. Uniform Mortgage; Governirtg Law: Severability. This form of mortgage combines uniform covenants for national
tcx and non-uniform covenants with limited variations h}• jurisdiction to constitute a uniform security instrument covering
real propert}•. This Mortgage shall be governed by the lass• of the jurisdiction in which the Property is located. In the
event that any provision or claux of this Mortgage or the Mott conflicts with applicable law, such conflict shall not affect
otke~ Qrosesions of this Mortgage or the Nnte which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the ~1ote are declared to be xverable.
16. 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. Transfer of the Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written conxnt. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase money xcurit}• interest for houxhold appliances, (c) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (dt the grant of any leaxhold interest of three years or less
not containing an option to purchax, Lender may. at 1_ender i option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory-to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as 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 shall•teleax 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 accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the toffee is mailed within
which Borrower may pay the sums declared 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 18 hereof.
Nor,-Urttroat-t Covetvert•rs. Borrower and Lender further covenant and agree as follows:
la. Acceleration; Remedla. Except s provWed i• paragraph 17 tiered, tspos borrower's breach d any coveoad or
agreement d borrower L ebb Mortgage, including the coeaasts to py when due sny wan secored by ebb MorlgaBe, Letader
prbr.to acceleation sba8 mail notice to borrower as trovided b paragraph 14 tiered rpcifyisg: (1) the breach; (2) tbt action
required to cart sncb bttacb; (3) a date, not less tbaa 30 days fwm the date the ^otke b ttaatkd to borrower, by wbkb web
brracb east be eared; and (4) that taHnre to true web brash os or beforo the date spelled r the sotke say rewk in "
accderation d the wss secured by ebb Mortgage, torecbsere by iudkW proceedlrtg_and sale d the >rr+oprty. '13e notke
sbaB inrtber rotors borrower d tberigbt to reinstate after accekratloa and tbt right to avert fa the foreclosure procecdiag
the son-ezWence d a detaok or aoy other defense ~f >lorrower to accelenttbn asd torecloaue. N the breach r not cm+ed oa
or bdore the date rpeeiled 6 the stoke, Leader at Leader's option say dethrtr a0 d the war sacaied by tbb Mortgage b be
base~atdy doe aed pyabie without ttutba denasd and say [orecbre ebb Mortpge by judicW proeeedbtl. Leader ,ball
be estNled to eobeet b web poceediag a• e:paoa d toreciowre, btchtdieg, brat sot Ysited to, rearosabie Mtorsey9 ion,
asd cab d dot>aseatary ediesee, attract atad title report.
19. borrower's Right to Re!^rtate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall Gave the right to have any proceedings begun by Lender to enfoice this Mortgage discontinued at nay tune
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