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Lender's written agrcemeot or applicabk law. Borrowe~ shall Ray the amourtt of al1 mort~age insurance premiu~ru in the
manner provided unde~ pa~agraph 2 hereof. ~
Any amounts disbuned by I.ender punuant to this parag~aph 7. with intercst thercon, shall become additional ~
indebtedneu of 8onowe~ secured by Ihis Mongage. Unless Borrower and l.ender agree la other terms of payment, sucl~ .
amounts shall be payable upan noticc from i.eoder to Borrowe~ requesting payment thercof, and shall bear interest from the
date of disbursement at the rate payabk from time to time an outstanding p~intipal under the Note unless payment of
interat at such rate would be contrary to applicable law, in which event such.amounts shall bea~ interat at the highest rate ~
permiuibk under applicable law. NotAing cootained in this pa~agraph 7 shall require•Lender to incur any expense or taka
any action hereunder. - ~ - •
s. i~spectiow. Lender may make or cause to be made rcasonable entr'ies upon and inspectio~s of the Property, provided
that i:e~de~ shall give Borrower notice prior to any such inspection specifying rcasonable cause thercfor related to Lender's
interest in•the Froperty.
9. Coademestba. The proceeds of any award or claim_for damages, dircct or conseque~tial, in connection with any
condemnation or other taking of the Propeny, or pari thereof. or for conveya~ce i~ lieu of condemnatioo, are hereby assigneef
and shall be paid to Lender. ~ .
in the event of a total taking of the Property, the procetds shall be applied to the sums secu~ed by this Mortgage. •
with the excess, if any, paid to Borrower. io ~hc event af a partial taking of the Property, anless Borrower and Le~de~
atherwise agrce in writing. there shall be applied to the sums secured by this Mortgage such pmportion of the proceeds
ss is oqual to that proportion which the amount of the sums secured by this Murtgage immediately prior to' the date of
taking bears to the fair market value of the Propeny immediately_prior to the date of taking, with the balance of the proceeds
paid to Borrower. _
Tf the Propeny is abandoned by Ba~rawer, or if. after notice by I.e~der to BoROwer that the condemnot otfen to make
an award or uttle a claim for damages, Bc~rrowe~ fails to respond to I_ender within 30 days after thc date such notice is _
mailed. Lender is authorized to collect and apply the prc~cceds, at I.ender's option, either to restoration or repair of the
Property or to the sums secured by this Mortgage.
Unless I.ender and Borrower otherwise agree in v?•riting, any such applicalion of proceeds to principal shall •not extend
or pcxlpone the due date of ihe monthly installments referred to in paragraphs 1 and 2 hercof or change ihe amount of
such installmerits. ~ ~ ~
10. Borrower Not Rekased. Fxtension of the time for payment or modification of amortization of the si~ms securcd
by this Mortgage granted by Lender to any successor in interest of Barrower shall n~t operate to release, io any manner,
the liability of the original Borrowe~ and Borrower
s successors in intercst. [.eoder shal) not be required to comnnence
proceedings against such successar ar refuse Io extend time for payment or otherwise modify amortization of the sums
secured by Ihis Mortgage by reason of anv demand made by t}ie orieinal Borrower and ~Barrowers u~ccescors in intercst.
11: Forbearanee by Leader Not a Waiver. Any forbearance by I_ender in exercising any right or remedy hereunder, or
othenvise afiorded by applicable law, shall not be a waiver of or preclude the exercise of any such right or nmedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shal) not be a waiver of Cender
s _
right to accelerate the mawrity of the indebtedness ~ecured hy thic Mortgage. • ' -
~2. Remedks Cemubthe. All rcmedia pravided in this Mortgage arc distinct and cumulative to any other right or
remeJy under this Mortgage or afiorded by law or equity, and may tx exercise~ concurrently, independently or successively.
13. Soccessors snd Assi~as_ Bound: loinf and Several ~.iaM'lity: Captbns. The covcoants and agrcements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of I.ender and Borrower.
subject to the provisions_ af paragraph 17 hereof_ All covenants anJ agree~ne~ts of Borrower shall be •joint and several.
The captions and headings of the paragraphc of this Mortgage are for convenience only and are not ta be used to '
interPret or defi~e the provisio~s hereof. ' '
ld. NMke. Except for any notico required under applicable law to be given in another •manner. (a) any notice 'to
, Borrower provided fpr in this Mortgage sHall be given by mailing such notice by certified mail-addressed to Borrow~er at
' the Property Address,or at such other addrcss as Bormw•er may designate by no~ice to i.ende~ as provided herein, and
~ (b) any notice to Cender shall be given by certified mail. retum receipt requested. to i.ender s aildress stared herein or to
I such other address as L~nder may designate by notice to Barrawer as provided herein. Any notice. provided for in this
Mongage shall be deemed to have been given to Borrower or i.ender when given in the manner designated hereiR.
1S. Uniform Mort~a~t: Go~ernin~ taw; Sererability. This fam of mortsage c:ombines unifom~ covenants f'a national use
l and non-~niform oovenants with limited variatioos by
jurisdiciim? to constitute a uniform security inswmentoovecing real property. T6e
j state and local lawa applicabk w this Mortg,sge shall be the laws of the jurisdictioa in w6ich the Property is located. T6e foreg~oing
~ senunce s6a11 not limit the applicabi6ty of federal law to this mortgage. Iri We eveat thu any provision or clause of this Mortgage or the
Note conflicts with applicable law, suc6 coaflict sbaU not affect dher provisioas of this Mortgage or the Nou which can be ~ven effect
without the oonflicting provisioa, and to this end the provisions of the Mortg,age and the Note are declared to be severable.
16. Sormwer's Copy. Borrower shall be furnished •r conformed copy ot the Note and of this Mortgage at the time
` of exccution or after recordation hercof. . ~
p 17. Tnnsfer of tbe Property; Assumplion. if all or an.,~ part of the Property or an interest therein is sold or transferred
by Borrower without I.ender
s prior written consent. excluding (al the creation of a lien or encumhrarrce subordinate to '
this Mortgage. (b) the creation of. a purchase money securit~• interest for I~ousehold appliances. (c) a transfer by de'vise.
descent or by operation of law upon the death of a joint tenant or (d1 the grant of any leasehold.interest of three yeari or less .
not containing an option to purchase, [.ender may, at tender'c 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 ~ale or transfer. I_ender
and the person to whom the Property is to be sotd or transferred rcach agreement in writing that the credit of such person
is satisfactory to Lencier and that the interest payable on the sumc secured by_ thic Mortgage shall be at such rate as Lender
shall request. if Lender has waived the option to accelerate provided in ihis paragraph 1~, and ii Borrower's successor in
interest has executed. a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
If L-ender exercises such option to accelerate. I_encler chall mail Borrower notice of acceleration in accordance with
paragraph 14 hercof. Such notice shall provide a period of not less Ihan 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due_ If Borrower fails to pay such soms prior to the e~piration of such period,
~ Lender may, without further notice or demand on l3orrower, invoke any remedies permitted by paragraph 18 hereof.
~ Norv-UHtFORt?s CovEtveNTS. Borrower and Lender funher covenant and agrce as follows:
18. Acceler~ien; Remedies. E:cep as prorided in panq~raph 17 hereof. upoo dorrower's bresc6 of any co~eoant or
~ a~reemeat of Borrower ia t6is Mortgsge. iatludin~ tbe corenants to pay wbea dnt any so~ secured by thts Mortaa~e. I.eader
~ prior to accekration shaU msil notke fo Borrower as pmvWed in para~nph 14 bereof specifyin=: (1) the b~esc4; (2) tbe sctioa
required to cone sec` bresch; (3) a d~te. not le~ thsn 30 days from thc date tbe notke b au~ed to dorrower. by w6k6 such
~ breach mnst be cered; aod (4) t6at failert to cnrc such breach on or beEore tbe datt speci6ed is tbe notke .may res~lt ia
accekration oE t6e sa~ sec~red by this Mort~aae. forcclowrc by judicial proceediu= aod sak of t6e Piroperly. 'ibe notice
shall further inform Borrower of the ~bt to reinstate after acceleratbn and the ~Mt to as~ert ia tbe fortebwre proeeediea
tbe rwn-esistence ot s defpuk or aay dher detense of Borrower to accekntbo and foreclosnre. if t6e brescb is oot c~red o0
or before Ihe date specified-ia lhe notice. Lender at Leade~'s option msy declare all of the sums secured by this Mortaa`e to be
Imniedistdy due and psysble witboot furtlur demaad and may forcclose thts Mort~aae br judicial proceedin~. Leader sbaU
be eot~ded to colkct ie sech proceedi~ all e:peases of foreclosurr. including. but aot Umited to, reasona6k sttorne~'s fea, .
and costs of documcntary evidence, abstracts sad ~itk reports. -
19. Borrowe~a Ri~ht to Reinsfate. Notwithstanding LenJer"s accelerati~n of tlx sums securcd by this Mortgage.
. Borrower shall have the right to have an}~ proceedings hegun by 1_ende~ to eoforce this Mortgage discontinued at any time
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