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Lender's written agrcement or applicable law. Borrower shall pay the amount of all mortgage .insurance premiums in the
manoer provided under pa~agraph 2 hereof.
Any amounts disburaed by ~ender pursuant to this pa~ag~aph 7, with interest theroon, shall become adclitional
indebledness of Borrowc~ securcd by this Mongage. Unless Borrowe~ a~d !_ender agree to other ternu of papment. such
amounts shall be payable upon noticc fram Cendcr to Borrower requesting payment thereof, and shall bear interest tmm the
date of disbursement at the rate payable fram time to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate .
permiuible undsr applicable law. Nothi~g contai~ed in this paragraph 7 shall require i_ender to incur any expense or take
any action herounder. -
8. lospectbn. Lende~ may make or cauu to be made reasonable ent~ies upon and inspections of the Property, provided
that Lender shall give Borrower notice prior to any such inspection speci(ying rcasonable caux thercfor related to Le~der's
interest in the Propeny. ~
9. Coademnatbn. 'Tl~e proceeds of any award or claim fo~ damaga, direct or consequential, in connection with a~y
condemnation or othe~ 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 cvent of a total taking of the Propeny, the praceeds shall bc applied to the sums securcd by this MoKgage,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrowe~ and I.e~der
otherwise agrce in writi~g. ther+e shall be applied to the sums securcd by this Mortgasq ¢uch •{x~opqKtion of the proceeds
as is cqual to that proportion which thc amount of the sums secured by this Mo~tgage•immediately prior to the date of
taking bears to the fair market value of the Propcrty 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 hy I.ender to Borrower that the condemnor offen to make
an award ar settle a claim for damages, Borrower fails to respond to I_ender wiihin 30 days after the date such nolice is
mailed, Lender is authorized to collect and apply the proceeds, at I_ender's option, either to restoration or repair of the
Propeny or to the sums secured by this MortRage.
Unless Lender and Borrow•er othervvise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referrcd to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Releaud. Extension of the time for payment or modification of amortization of the sums secured
by ihis Mortgage granted by Lender ta any successor in interest of Borrower shall not operate to releau, in any manner,
the liability of the original Borrower and Borrower s successors in interest. I_ender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization ~f the sums
secured by this Mortgage by reason of any demand made by the ariginal Borrower and Borrowers saccessors in interesl.
11. Forbeanace by I.ender Not a Waiver. Any forbearance by I_ender in exercising any right or remedy hereunder, o:
othenvise affordod by applicable law, shall not t~e a waiver of or preclude the exercise of any such right or remedy.
Tf~e procurement of insurance or the payment of tares or other liens or charges by Ixnder shall ~ot be a waiver of Lender's
right to accelerate the maturity of ihe indebtedness secured hy this Mortgage.
12. Remedies Cumulative. All rcmedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded hy law or equity, and ma~• he exercised concurrently, independently or successively.
13. Snccessors and Assiq~ Bound; Joinl and Se~•eral i.iabillty; Captbns. The covenants and agreements herein
co~tained shall bind, and the riRhts hereunder shall imire to, the rcspective successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and ag~eementx of Borrower shall be joint and several.
The captions and headings of the paragraphc of this Mongage are for convenience only and are not to be used 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 be given by mailing such notice by certified mail addressed to Borrower at
' the Property Address ~or at such other addresc as Borrower may designatc by notice to i_ender as provided herein, and
j (b) any notice ro Lender shall he given by certified mail, return receipt requested. to I.ender s address stated herein or to
; such other address as I_end.r may designate by nntice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been givcn to Borrower or !_cnder when given in the manner designated herein.
~ • l5. Unifonn Mortgage; GoverninR Iaw; Severability. This form of mortgage combines uniform covenants for national
~ use and non-uniform covenants wilh limited variations hy jurisdiction to constitute a unifo:m security instrument covering
j real propeny. This Mortgage shall be governed hy the law of the jurisdiction in which the Property is located. In the
i event that any provision or clause of this Mortgage or the Note conflicts vaith applicable law, such conftict shal) not afiect
~ other provisions of this Mortgage or the Note which can be given efTect without the conflicting provision, and to this
e~d the provisions of the Mortgage and the Note arc declared to t~e severable.
~ 16. Borrower's Copy. Borrower shall be furni~hed a canformed copy of the Note and of thic Mortgage at the time
of execution or after recordation hereof.
~ 17. Tnnsfer of the Property: Assumption. If all or an}• part of thc Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent, excloding (al the creation of a lien or encumbrance subordinate to
~ this Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by dtvise,
~ descent or by operation of law• upon the death of a joint tcnant or (dl the grant of any leasehold intercst of three years or less
~ not containing an oplion to purchase, I.ender may, at i_ender'~ option, declare all the sums secured by this Mortgage to be
immediately due and payable. t_ender shall have waived such option to accelerate if. prior to the zale or transfer, 1_ender
~ and the person to whom the Property is to be sald or transferred reach agreement in writing that the credit of such person
is satisfactory to I,ender and that the intcrest payable on the sums secured by this Mortgage shall be at such rate as Lender
~ shall request. lf I.ender 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. I_ender shall release Borrower from all
- obligations under this Mortgage and the Note.
3 If Lender exercises such option to accelerate. 1_enJer shall mail Borrower notice of acceleration in accordance with
s paragraph 14 hereof. Such notice shall provide a periocl of not less than 30 days from the date the notice is mailed within
i 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 rcmedies permitted by paragraph 18 hereof.
~ Notv-UrrtFORat CovEHeNTS. Bonower and Lender funher covenant and agree as follows:
18. AccelerAtion; Remedies. E:cept as provided in pAragraph 17 hereof. upoo Borrower's bnach of aay coverwnt or
r~greemcnt of Borrower in tl~s Mortga~e, induding tbe covenants to pay when due aay soms sccnred by thb Mort~age, Leader
prior to accekration s6all mail noHce to Borrower ~s pmvided in paragr~aph l4 hereot specifyioa: (l) t6e breac~; (2) tbe action
required to cnn soch br+e~ch; =3) a date, not kss tban 30 days from tbe date the ootlce is mailed to Borrowe~, by whk6 soc6
4 breac6 must be cnred; aad (4) tlwt failure to cure soch breach on or beforc the date speci6ed ia tbe notke may raolt iA
~ accekntjon ot the mms secnnd by thk Mortga~e, forecbsurc by jodicial proceedie~ and s~de ot the Property. 'ILe nodce
~ shal! fartber inform Borrower~E the rigbt to rei~te after accekration and tbe rig6t to assert in the foreclasnre proceeding
~ the taa-e~teoce ot a defaok or aoy other defense of Borrower to acceleratioo and foreclosnre. If tbe brescb b oot cored on
3 or before t6e date sped8ed in t6e aotice, Lender at Leoder's optbo may declue all of the mu~s secnred try t6is Mort~e to be
~ imnudiatdy dee aad payabk witbout fnrt6er demand and msy foreclose tfi~s Mortaa`e by judkial ~proceedia~. Lender s6aU
~ be eotitled to coDect in suc6 proceedlo~ a~ expenats of foreclosare, includiu~, b~t aot limited to, reasonabk attoroe~'s fea,
= snd costs of docnmeotary eridence, abstrscls sad titk reports.
19. Eorrower's Ri6bt to Reinat~e. Notwithstanding Lender s acceleration of the sums securcd by this Mortgage,
~ Borrower shall have the right to have any proceedings t~egun by Lender to enforce this Mortgage discontinuod at any time
BdOKtJt7~ PAGF tyJe)
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