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Lender's written agrceme~t o~ applicabte law. Borrower shall pay the amount of all mortgage insurance premiums in the
ma~ner provided under paragraph 2 hereof.
Any amounts disbursed by l.ender pursuant to this parag~aph 7, with interest thereon, shall become additional
indebtedness of Borrower securcd by this Mongage. Unless Borrowc~ and I.enJer agree to othe~ tcrms of payment. such
amounts shall be payable upc~o notice from ~ender to Bor~ower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from timc to time on outstanding principal u~dar the Note unleu payment of
iMerest at such rate would be contrary to applicable law, in which event such smou~ts shall~ r.ipt~~est ~t the highest rate
permissible under aQplicable law. Nothi~g contained in this paragraph 7 shall require Lende~ tb incu~ a~ expense or tate
any action hereunder.
8. iaspecHoa. I.ender may make or cauu to be made reasonable entries upon and inspections of the Property, provided
that I.ender shall give Borrower notice prior to any such inspection specifyi~g reasonable cause therefor related to Lender's
interest in the Propeny.
9. CondemnaNo~. The proceeds of any award or claim for damages, direct or consequential, in connectio~ with any
condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of co~demnation, are hereby assigned
and shall be paid to Lcnder.
In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mo~tgage.
with the e!ccess, if any, paid to Borrower. in ~he event of a partial taking of the Property, unless Borrower and Lender
othenvise 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 to Borrower.
if the Property is abandoned by Borrower, or if, after notice by Lender to BoROwer that the condemnor ofFers to make
a~ award or settle 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 i_ender's option, either to restoration or npair of the
Propeny or to the sums secured by this Mortgage.
Unless Lender and Borrower othenvise agree in writing, any such application of proceeds to principal shaU not extend
or postpone the due date of thc monthly installments referred to in p~grRphs~ 1 and 2 heneof ap,-cbaoge the amount of
such installments. ;r.+ ._•. • ~ '
10. Borrov~er Not Rekased. Extension of the time for payment or modi8cation oE amortization ef~ the sums socured
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 successon in interest. i_ender shall not be tequired to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amottization of the sums
secured by this Mottgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
ll. Forbearance by Lender Not a Waiver. Any forbearance by I_ender in exercising any right or remedy hereunder, or
othervvise 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 charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured hy this Mortgage.
l2. Remedies ComulAHre. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or atforded by law or equity, and may be exercised concurrently, independently or successively.
l3. Snecessors and Assigns Bound; Joint and Se~•eral t.iability; Captions. 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 he~eof. All covenants and agreements of Borrower shall be joint and uveral.
The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
interpret or define the provisions 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 be given by mailing such notice by certified mail addressed to Borrower at
the Prope»y Address or at such other address as Borrower may designate by notice to i_ender as provided herein, and
(b) any notice to Lender shall be given by certified mail, return receip~ requested, to I.ender s address stated herein or to
such other address as Lender may designate by notice to Bormwer as provided herein. Any notice Provided for in this
Mortgage shall be deemed to have been given to Borrower or I_ender when given in the manner designated herein.
1S. Uaiform Mortga~e; Governin~ Law; Se.erability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited ~ariations hy jurisciiction to constitute a uniform security instrument covering
real 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 ar the Note conflicts w•ith applicable law, such conflict shall not affect
other provisions of this Mortgage or Ihe Note which can be given effect withoot the conflicting provision, and to this
end ihe provisions of the Mortgage and the Notc are dcclared to he severable.
16. eorrower's Copy. Borrower shall be furnished a conform~d copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. Transfer of the Property; Assumplion. If all or any pan ot the Property or an interest therein is seld or transferred
by Borrower without Ixnder's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase monep security interest for household appliances, (c) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less
not containing an option to purchase, Lender may, at Lender's 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 xcured by this Mortgage shall be at sach rate as Lender
shall request_ if [_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's succecsor in
interest hac executed a written assumption agreement accepted in writing by i_ender, I_ender shall release Borrower from all
obligations under this Mortgage and the Note.
if I_ender exercixs such aption 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. 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.
NoN-UH~FORi-t CovexexTS. Borrower and Lender further covenant and agree as follows:
18. Acceleratbn; Remedies. Ezcept as provlded ia paraLnph 17 hereof. npon Borrower's breacb of aey co~enant or
agreement of Borrower in t6b Mortga~e, indndina tbe co~enanb to pay when due aoy snms stcored by thb Mort~a;e, Lender
Qrbr to accekntion s6ap mail aotice to Borrower as provided in paragraph l4 hereof specK~: (1) tie brescb; (2) t6e actba
requlred to core mcb breach; (3) a date, nof less tban 30 days fmm the date tbe aotiee k mailed to Borruwer, by wl~kh socti
breach must be cnred; and (4) thst fspnre to cnre snch breach oa or 6efore t6e date speciRed io tLe notke asa~ radt ie
•ccekntbn of the aau~s secared by i6fs Mort~a~e. foreclosure by judicial pmceedt~ aod sale of tbe Propery. 'iUe notke
s6a11 further infor~ Borrower af tbe ri~ht to reinstate after sceekraNon aad the ri`6t to arsett ie tbe foralosare proceedit~
the non-existence of a defank or aay other defense oE Eorrower to sccekntbn and foreclosnre. It tbe brs~cM is not cured o0
or before the date specified ie the aotke, Lender st Leoder's option msy declare aIl of the soms secared br Mk Martsate to be
immedLtely doe and paya6k wit6out furiber demaad ond may fombse thb Mortta~e by jodicW proceedf~. Leoder thaU
be entitled to collect ia snc6 proccedi~ aq espenscs of torecbsere, includiu~, 6ut not limlted to, rearons6k ~ttorney's iea,
aod costs oE docaa~eetary evldence. a6stracts aad title roporb.
19. Borrorrer's R!`bt to Reimtde. Notwithstanding Lendtr's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any procadings begun by Lender to enforce this Mortgage discontinued at any time
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