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Lender's written a~rcement or applicable law. Sorrowe~ shali pay tfie unount ot all mort~e taiuranu pretniums in ihe
manner provided under para~raph 2 hereof.
Any amounts disbuned by Lender pursu~nt to this pan=raph 7, with intercst thereon, sha11 become additional
indcbtedness oi Borrowe~ securcd by this Mortgage. Unlcss Borrower and Lendte agra to other ternu of paytnent, auch
amounts sha~! be payable upon notice from Lendtr to Borrower rcqutsting payment ihereot, and shali bear inlerest from the
date of disbursement at the rate payabk from time to time on o~Ustanding principal undet the Note unkss psyment of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest st the hishest rate
permissibk under applicable law. Nothing contained in this paragnph ? shall require Lender to incur any expeeae or taka
any sction hereundu.
S. Inspectioe. Lender may make or cause to be madc rcaso~able e~tries upon And inspections of the Pro~rty, provided
that I.endsr shall give Borrower notice prior to aoy such inspection specifying rcasonabk cause therefor related'to Lender's
interest in tho Property.
9. Coademnatbn. The procceds of any award or claim for damages. direct or constquential, in co~ntction with any
condemna~ion or other taking of the Property, or part thereof, or for conveyance in lieu of co~demnation, are heeeby assigned
and shall be paid ta Lender.
in Ihe event of a total taking of ~he Property, the proceeds shall be appli~d to ~he sums securcd by this MortEage.
with tht excess, if any, paid to Borrower. in the ~vent af a pasti~l taking oE the Property, unltss Borrower and Lender
otherwise agree in writing. therc shall be applied to the sums secured by this iNortgage such proportion of the Qmcotds
, as ic eq~ial to that proportion which the amount of the sums cecured by this 1?tortga~te immediately prior to the date ot
taking bears to the fair market value of the Property immediateiy priar to the date of taking. with the balanct of ihe proceeds
paid tn Borrower_
if the Prnperty is abandoned by Bor~ower. or if. after notice by Lender to Borrower that the conckmnor ofFtts to make
an award or settle a claim for damages. Barrower fails to rtspond to Lender within 30 days after the date such notice is
mailed. Lender is authoriztd to col{ect and apply the proceeds, at t_ender's option, either to restontion or rcpair of the
Property or to the sums secured by this Mertgage,
Unless l.ender and Borrower otherwise agree in writing, any such applicatian of proceeds to principal shall not extend
or po~tpone the due date of the monthly installments referred to in para~raphs 1 and 2 hercof or change the amount of
such installments.
l0. Borrower Not Rek~ed. Extension of the timr for payment or modiRcation of amortization o! the sums secured
by this Mortgage granted by l.ender to any successor in interest ot Borrower shall not opente to rclease. in any manntr,
the fiabi{ity of the original 8orrower and Borrower`a successors in inCerest. Lender shall ~ot be rrquired to commence
proceedings against such succecsor or rcfuse to extend time far payment or otherwise mbdify amort+ution of the sums
secured by Ihis Mortgage by rcason of any demand made by the origina) Borrowe~ and Borrowe~'s successoc~ +n inttrest.
11. Forbearance by Lcnder Not a Watrer. Any fort+earance by Lrnder in'exercising any right or rcmedy hercunder, or
othervrise aRorded by applicable taw, shall not be a waiver of or preclude the exercise of any such right or rcmedy. -
The procurement of insurance or the paym~nt of taxes or othar lions or charges by Lender sfiali not be a waiver of Lender's
right to accelerate the maturity of the indebtednecs cecured hy thic Mortgage.
12. Remedies Camnlafire. All rcmedies provided in this Mortgage arc distinct and cumulative to any other right or
reme~y under this Mortgage or afforded by law or equity. and may be exercised concurrcatly, independently or successively.
13. Successors and Assiaus Bound; Jotat sad St~~erd t.iabi{ity; Csptbns. The covenants and agreemenls herein
containtd shall hind, and ~he ri~hts hereunder shall inure to. the respective surcessors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreement~ of Borrower.shalt be joint and several.
The captions anJ headings of ihe paragraph~ nf Ifiic Mortgage are for convenitnce only and art not to be uxd to
interpret or define the provisions hereof.
l4. 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 Ue given by mailing such notict by certi}ied mail addressed to Botrower at
the Propeety Address ar at such oth~r address as 8orrower may designa~e by no~ice to 1_ender as Provided hercin, and
- (b) any notice ro Lender shall be given by certified mail, return receipt requested. to i.ender's addreu stated h=rein or to
~ such other addreu as Lender may designate by notice to Borrower as provided hercin. Any notice provided for in this
Mortgage shall be dtemed to have been given to Borrower or [_ender when given in the manner designated ~herein.
~ IS. Uniform Mort~age: Gov:rni~ Law: Srrerab~iify. This form of mortgage combines uniform covenants for national
use and non-uniform co~•enants with limited variations by jurisdiction to constitiite a uniiorm security instrument covering
i real property. This Mortgage shall be go~•erned hy the law of the jurisdiction in which the Proptrty is located. In the
f event shat any provision or cla?~se o~ this Mortgage or the 1~'ote conflicts w•ith applicable law, such conflict shall not afiect
~ other provisions of this Mongage or the Note which can be given efiect without the conflicting pravision, and to this
end the provisions of the Mortgage and the Note are declared to tx severabte_
~ 16. eorrowe~'s Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
oE exectiiion or after recordation hereof.
~ l7. Traasfer of the Pmperty; Assumplion. I! atl or any part of the Ptopeny or an intercst therein is sold or transterred
by Borrower without Lender's prior written consent, excluding (a) the cceation of a lien or encumbrancs subord'+nate to
this Mortgage, (b) the creation of a purchase maney security interest for household appliances, (c) a transfer by devise.
• descent or by operation of law upon the death oi a joint tehant or (d) tfit grant of any leuehold interat of three ytars or less
~ not containing an option to purchase, i.ender may, at Lender'c option, dec{ar~ all the sums secured by this Mortgage to be s
immediately due and payable. Lender shall have waived such op:ion to accelerate if, prior to the sale or tra~sfer. 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 payabie on the sums xcured by this Mortgage shall be at such rate as L.ender :
shatl request. !f Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's sucassor in
interest hac executed a written assumption agreement acctpted in writing by Lender, Lender shall release Borrower from all
obligations under this Mortgage and the Note. '
If Lender exercises such option to accelerate. Lender chall mail Borrox~er notice of acceieration in accordance with ~
paragraph 14 hercof. Such notite shall provide a period of not Itss than 30 days from the date the noti~e is maifed within
which Borrower may pay the sums declared due. If Borroµer fails to pay such sums prior to the expiration of such period,
Lender may, without further notice or demand on Borrower. invoke any refncdiea permitted by paragraph 18 hereof. .
~ Now-UNtFORnt CovEx~H'rs. Bortower and Lender furthsr covenant and agree as follows:
t 18. Areekratioa; Remtdks. Except as providcd in paragnph 1'7 hereof, ~poa Eorrowe~'s brescA o[ aay coveaa~t or
~ agreemcat of Borrower in tDis Mortgage~ incindir?a tl~e coreaants to pay wbea drt any soms secuced by tt+Y Mori~a~e, Le~der
~ prio~ to accekntao sbaU mait notice to Borrower as provided jn pars`npb l4 herco[ specNyio~: (1) the bctxs; (2) t6e actb~
; reqaired to cure secb bresc6; (3) a dste, not kss than 30 daps f~o~n the d~fe the +wtke is e~aikd to Sorrower, by wWcii soc~
~ breacl~ must be cnrcd; aad (4) thst tailure to cure soch broacb on or befor+e tbe date specWed ~ tbe wtke m~ raak ii ~
accelt~ation of tlx sems secured by thfs Mortaage, torcc{o4urc by judkfal proceedie~ aod sde ot the tropt~. T6e witke j
~ shall further intorn~ Borravrer of tbe rigbt to reimtaie dfrr accek~tioa and the rl~bt to a~ert ia tbt foreclowre *rocae~ i
tl~e non-exi~tence af ~ de[auk or say other dcfe~e of Borrow~er to accekr~ion se~d Eotecl~owre. It t6e 6resch b~ot e~red o~ i
~ or before the date sptciRed ia the notice, Leader at Lende~'s optioa msy deciare d ot tbe tunis secared by tbb MartRa~e to be
immrd~steiy due and paysbie witbout fnrtber demsAd ud mar toreclo~e thi~ Mat~a~e jodki~ proreed~. Le~der s~
~ be entitkd to colket in spcfi psocesdin~ aN expems~ at iombwre, incledins, bot vot ~initsa to, reaios~bie ~ttorwe~+s fus,
~ and costs of docnrsentary erWence. abstracfs and title reporb.
19. Borwwe~'s Ri~ht to Rei~tate. Notwiths~anding Lender's acceleration of the sums securcd by this Mortgage,
E Borrower sha11 have tfie right to have any procecdings hegun by Lender to enforce this Morigage disconiinuai at any tirtx
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