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Lenders wniten a9-eemenl or applicable law. Borrower shall pay ihe amount ot all mortgage ~nsurance premiums in ihe
manne~ provided u~der paragraph 2 hereof.
Any amounts disbursed by lende~ pursuant lo this paragraph 7, with interesl thereon, shall become add~l~onai
indebtedness ol Borrower secured by this Mortgage. Unless Borrower and lender agree to other terms ot payment, such
amounts shall be payable upon notice Irom Lender to Bor~ower requesting payment thereol, and shall bear interest Irom the
date ol disbursement at the rate payable from time to time on flutstanding principal under the Note uniess payment of
~nte-est at such rate would be contrary to applicable law, in which event such amounts shall bear interest al the h~ghest rate
permissible under applicable taw. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
8. Insp~ctlo~. lender may make or cause to be made reasonable entr~es upon and ~nspect~ons ot the Property.
provideid that Lender shall give Borrower notice prior to any such inspect~on specifymg reasonable cause therelor re~ated to
lenders inlerest in the Property.
~. Cond~m~~tlon. The proceeds ol anyaward or claim fordamages, d~rect orconsequent~al, ~n connection with any
condemnation or other taking of the Properry, or part thereoi, or for conveyance ~n lieu of condemnat~on, hereby ass~gned
and shal! be paid to Lende~.
In the evenl ot a total taking o1•the PropeRy, the proceeds shatl be applied to the sums secured by th~s Mortgage.
w~th the excess, it any paid to Borrower. In the event ol a partial taking o( the Property unless Bo~rowe~ and Lender
othervv~se agree in writing, lhere shall be appifed to the sums secured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of lhe sums secured by this Mortgage~immediately prior to the date of
taking bears to the fair market value of the Property immed~ately prior to the date of taking, with the batance ot the proceeds
pa~d to the Borrower.
tt the Property is abandoned by Borrower, or d, after notice by lender to Borrower that the condemnor otfers to make
an award or settle a claim for damages. Borrower fa~ls to respond to Lender w~thin 30 days alter Ihe date such notice ~s
ma~led, lender is authorized to collect and apply the proceeds, at Lenders option, either to ~esto~ation or ~epair of the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application ot proceeds to pr~ncipal shall not extend
or postpone the due date ot the monthly instal{ments relerred to in paragraphs t and 2 hereot or change the amount oi
such installments.
1 O. Borrow~r Not RNsss~d. Extension ot the time for payment or modificatian of amortization ot the sums secured
by this Mortgage granted by Lender to any successor ~n interest ot Borrower shall not operate to ~elease. ~n any manner,
the I~ab~lity of the orig~nal Borrower and Borrowers successors ~n interest. Lender shall not be required to commence
proceedings against such successor or retuse to extend time tor payment or otherwise mod~fy amorti2ation ot the sums
secured by this Mortgage by reason ot any de~nand made by the original Bo~rower and Borrowers successors in ~nterest.
11. Forbsarsnce by Lender Not a Walver. Any lorbearance by Lende~ in exerc~s~ng any r~ght or remedy hereunder,
or otherw-se attorded by applicable law, shall not be a waiver of or preclude the exercise ot any such nght or remedy.
The procurement ot insurance or the payment o( taxes or other I~ens or charges by L2nder shall not be a wa~ver ot Lende~s
r~ght to acceterate the matutiry ot the indebtedness secured by this Mortgage.
12. R~medlss Cum~ilativs. All remedies provided in this Mortgage are distincl and cumulative to any other r~ght or
remedy under this Morigage or alforded by law or equity, and may be exercised concurrently, independently or successively.
13. Succesaon and Assl~ns Bound; Jolnt s~d Ssveral Uablllty; Csptions. The covenants and agreements
herein conta~ned shall bind, and the rights hereunder shall inure to, the respect~ve successors and assigns of
lender and Bonower, subject to the provisions of paragraph t 7 hereot. AII covenants and agreements ot Borrower shall be
joint and several_ The captions and head~ngs of the paragraphs of th~s Mortgage are for covenience only and are not to be
used to interpret or detine the provisions hereot.
14. NotiC~. Except for any notice required under applicable law to be g~ven ~n anuther manner. (a) any not~ce to
Borrower provided for in thi5 Mortgage shall be given by mai~ng such notice by cert~fied mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Lender as prov~ded here~n, and
~b) any notice to Lender shalt be given by cert~ti~ ma~l, relurn receipl requested, to Lenders address stated herein or to
such other address as Lender may designate by notice to Borrower as provided here~n. Any notice prov~ded for in this
Mortgage shall be deemed to have been given to Borrower or Lender when g~ven in the manner des~gnated here~n
15. Unlfo-m Mortgage; Govsming Law; Severabllity. This form of mortgage comb~nes un~form covenants for
nat~onal use and norrunifo~m covenants w~th I~m~ted var~at~ons by lurisdiction to const~tute a uniform secu~~ty mstrument
covenng reat property. The state and loca- ~aws apphcable to th~s Mortgage shail be the ;aws ot the ~unsd~ct~on ~n wh~ch
the Property ~s Iocated. The torego~ng sentence shall not I~m~t the applicab~lityot lederal taw to th~s mortgage In the e~ent
that any prov~s~on or clause of th~s Mortgage or the No1e contl~cts w~th appi~cab~e Iaw. such contl~ct shal- not atfecl other
pravisions oi this Mortgage or the Note wh~ch can be g~~~en effeci w~thout the cuM.~r_hng prov~s~on an~f to th~s en~i the
prov~s~ons of Ihe Mortgage and the Note are declared to be severable
18. Borrow~r's COpy. Borrower shall be turn~shed a CoNo!med copy ~f the Note ar~d ot th~s Mortgage at the l~me
of execution or after recordation hereot.
17. Transisr of ths Propsrty; Assumptlon. 11 all or any part of the Property or an ~nterest therem ~s sold or tran;ferred
by Borrowrer without lenders prior written consent, exctudmg (a) the creat~on of a t~en or encumbrance subord~nate to
ih~s Mortgage, (b) the creation ot a purchase money secunty interest for househotd appliances. (c1 a trans(er by devise.
descent or by operation of taw upon the death o! a joint tenant or (~ the grant ol any teasehold ~nterest of three years er less
not containing an option to purchase. lender may, at Lenders option, declare all the sums secured by this Mortgage to be
~mmediately due and payabte. Lender shatl have waived such option to accelerate if pr~or to the sale o- transter. Lende-
and the person to whom the Property ~s to be sold or translerred reach agreement ~n wr~t~ng that the credit ot such person
is satisiactory to Lender and that the interest payable on the sums secured by this Morigage shall be at such ~ate as lender
shali request. It Lender has waived the option to accelerate prov~ded m th~s paragraph t 7, and if Borrowe~s successor ~n
~nterest has executed a written assumption agreement accepted m wntmg by Lender. Lender shall release Borrower!rom all
obl~gat~ons under th~s Mortgage a~d the Note.
If ~ender exercises such option to accelerate, Lender shall mail Borrower notice ot acceleration m accordance with
paragraph 14 hereot. Such nolice shall provide a penod ol not Iess that 30 days from the date the notice is ma~led w:th~n
wh~ch Borrower may pay the sums declared due. It Borrower fa~ls to pay such sums prior to the expiratf~n of such penod.
Lender may. without further notice or demand on Borrower, lnvoke any remed~es perm~tted by paragraph 18 hereof.
NON-UNIFORM COVENANTS. Borrower and Lender tuhher covenant and agree as follows:
18. Acc~leration; Rem~dtes. Except as provld~d In pan~raph 17 hsrsof, upon Borrow~rs breach oi any
covsnant ora~r~em~nt of Borrower In thls Mort~a~~, includin~ the cov~nants to psy wh~n du~ sny sums sscu~ed
by thls Mort~s~~~ L„~nd~r prtor to accsl~ratlon shall mall noNce to 8orrovwr as provld~d In psn~aph 14 hereof
spsctfyln~: ~1) th~ bnach; (2) th~ actton r~qulnd to cun such br~ach; (3) a dsts. not less than 30 days from the
date the notlc~ Is mallsd to Borrow~r, bywhlch such broach must b~ cund; and {4) thatfslluroto cure such brsach
on or bsfore the date sp~clflsd In th~ nottc~ may nsuR In accsl~ratlon of ths sums secur~d by thls Mortga~~,
foreclosur~ by judiclal procoedinq snd ql~ oi th~ Prop~rty, Th~ notlc~ shsll further Intorm Borrow~roi the Nyht to
roinstste sReracc~l~ratton and ths rl~ht to ass~rt In th~ fonclosuro proc~sdln~ the non-exlstsnc~ of a default or
sny other d~f~ns~ ot Bonow~r to acc~l~ntton snd fonclosun. tf the bnach Is not cur~d on or Mfon the date
specitisd in th~ notlce, L~nder at l~nder's optbn msy d~clan stl of th~ ~ums securod by thls Mort~a~e to be
immedlstely due and psysbh without turther d~mand snd may for~closs thts Mort~s~e by judtcfal procseding.
i.ender shsll b~ ~ntltl~d to collect In such procNdin~ sll ~xp~ns~s of fonclosun~ IncludlnQ, but not Ilmited to,
reasonsble attomeys tess, and costs of documentary ~videnc~, sbstracts and title ~eports.
19. Borrowsrs Ri~ht to Re(nsUts. Notw~lhstanding Lender s accelerat~on oi the sums secu~ed by th~s Mortgage.
Borrowe~ shall havE the r~ght to have any proceedings begun by lender to enforce th~s Mortgage d~sconhnued at any t~me
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