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Lender's wntten agrcement or apphcable IiIN'. Bl1ffONCI shall pa}~ thr amount of all mortgage insurance premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by I.en~er pursuant to this ~ar:,graph 7, with uuerest thereon, shall b~came additional
inJeb~edness of [iorrower secured by ~his Mortgage. Unle~t Borro•aer and I.en~er agree to other terms of payment, such
amounts shall he pa}~ahte upon notice from l.ender to Borrow~r reyuecting payment thereaf, and shall bear interest from the
date of disbursement at the ra;t payahle from timc to time on o~rtstanding principal under the Note unless payment of
interext at such rate would t+e contrary to applicable law, in Hhirh event tiuch amounts shall hear interest at the highest rate
perr~~issible under applicable law. Nothing contained in this p~ragraph 7 shall require [.ender to incur any expense or take
any action hereunder.
8. lnspecHon. [.ender may~ make ur cause to t~e made reasonahle entries upon and inspections of the Property, provided
that Lender shall give Borrower notice pri~~r to any such ins~xction specifyin6 reasonable cause therefor related to I.ender's
interest in the Property.
9. Condemnatbn. The proceedc of an}~ award or claim for damages, direct or consequential, in rnnnection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigoed
and shall be paid to i.ender. ~
In the event of a total taking of the Property, the pr~:eeds thall he applied ta the tums secured by thit Mortgage,
with the e~cess, if any, paid to Borrower. In the e~•ent of a partial taking ~~f the Property, unless Borrower and Lender
otherwise agree in writing, there shall be apF lied 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 b~~ this Mortgage immediately prior to the date of
taking bears to the fair market value of thc Propert}~ immediately prior to the date of ~aking, with the balance of the proceeds
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paid to Borrower.
if the Property is abandoned by Borrow•er, or if. after notice by I.cnd~r to Borrower that the condemnor oPfers to make
an award or setNe a claim for damages, Borrower fails to respond to I.ender within 30 days aher the date such notice is
mailed, Lender is authorized to collece and apply the prc~ceeds. at I.ender's option, either to r~storation or repair of the
Property or to the sums secured b)• this Mortgage.
Unless Lender and Borrov?~er otherwise agree in w•riting, any such application of proceeds to principal shail not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Rekased. Extension of the time for payment or modification of amortization of the si~ms xcured
by this Moitgagc granted by l.ender to any successor in interest of Borrower shall not operate ro release, in any manner.
the liability of the original 8orrower and Borrow~er's successors in inreresi. ~I.ender shall not he required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured hy this Mortgage by reason of any demand made by the oriqinal Borrower and Borrower's successors in interest.
I1. Forbearaoce by I.ende~ Not a R'aiver. Am• forbearance by I.ender in exercising any right or remedy hereunder, or
otherwise afforded by applicablc law, shall nat be a waiver of or preclude the exercise of any such right or r~medy_
The procurement of insurance or the payment af taxes or other liens or charges by I.ender shall not be a waiver of Lender's
right to accelerate the maturity of the indehtednets cecured hy this Mortgage.
12. Remedies Cumulative. Ali remedies provided in this I~tortgage are distinct and cumulative to any other right or
remedy under this Mortgage or aHoede~ b}• law or equity, and ma~• be exercised concurrenUy. independently or successively.
13. Soccessors and Assigns Bound; Joint nnd Se.•eral l.iability; Captions. The covenants and agreements herein
comained shall hind, and the riRhts hereunder shatl inure to, the respective sirccessors and assigns of Lender and Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. •
"il~e captions anJ headings of the paragraph~ of this Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notice. Ezcept for any notice req~iired under applicable law to be given in another manner. (a) any notice to
Borrower provided for in this ~iortgage shall be given hy mailing such notice by certified mail addressed to Borrower at
the PropeRy Address or at such other address as Borrow~er may designate by nrnice to i.ender as provided herein, and
(h) any notice to Lender shall be given by certified mail, return receipt requested. to I ender c address stated herein or to
such other address as 1_ender may designate b}~ notice to Bormwer as provided herein. An}• notice provided for in this
Mortgage shall be ueemed to ha~e been given to Borrow•er ur Lender when given in the manner designated herein.
15. Uniform l~tort~nge; Gorernin~ law; Severobilit~~. This form of mortgage combines uniform co~enants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed hy the laa~ of the jurisdiction in which the Property is located. In the
~ event that any provision or clause of this Mortgage or the T~ote conflictt with applicable law. such conflict shall not aftect
i other provisions of this Mortgage or the Note wh~ch can be given efTect without the conflicting provi~ion. and to this
~ end the provisions of the Mortgage and the Nc,te are Jeclared tc, he severat~le.
' 16. Borrower's Copy. Borrow•er shall be furni~hed a conformed copy ~f the Note and of thi~ 1~lortgage at the time
~ of execution or after recordation hereof.
~ 17. Transfer of the Property; Assumplion. If all or an}~ ~.,rt of the Pmpert~• or an interest therein ~t sold or transferred
by Borrower without Lender's prior wriuen consent. escluding (al the rreation of a lien ~r encumbrance subor~finate to
& this Mortgage, (b) the creation of a purchace mone}' security interest f~r h~usehoW appliances. (e) a transfer by devise.
descent or by oper~tio~ of law~ upon the death ~f a j~~int tenant ~r (~ll the g~ant of am~ leasehold interest ~f three years or less ~
not containing an option to purchase. Lender ma~•, at Lender's <~pt~nn, declare all the sums sec:ired hy this Mortgage to be
immediately due and payable. Lender shall have «a~~•ed tuch ~~ption to accelerate if. prior to the ~ale or transfer. I.ender
and the person to whom the Property ic to be sol~i i~r transferred reach agreement in w~riting that the credit of such person
i~ satisfactory• to I.ender and that the intere.t payahle i~n the sumti secured by thit Ltorteage shall be at such rate as Lender
shall request If Lender has waived the optic.n to acceler.~te pre~~ided in this paragraph 17, and if B~rrower'a successor in
interest hat executed a written assumption agreement accepted in wri!inF h}' t_en~ler. Lender shall releace Borrower from ail
; obligations under this Mortgage and the Note.
` ~ If Lender exercitet such option tc~ acceler:,te. I encler ~hall m~il Bnrrouer notice ~f accelerati~m in accordance with
~ paragraph 14 hereof. Such notice tihall provide a nern~~f c~f n~~t lesti than ?(1 day: fre~m the date the notice is mailed wit~
which Borrower may pay the ~ums declareel due (f Be~rrc~~.rr faifs t~~ pac such sums Yri~r t~ the erpirati~n ~~f wch period.
~ Lender may, without further notice or demand e~n k3ormHCr. ~mc~ke an~ rernedies ~rmitted b}• paragraph IR hereof.
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NoH-UNtFOR!~t CovEVnr:TS. Borrow~er an~ Lender further covenant and agree as follows:
~ 18. Accelerstion; Remcdiss. Except ais pro.ided in para~raph l7 hereof. upon Borrower's breach of any co~•enant or
~ agreement of Borrower io this ?~tortg~e, includin~; Ihe co~enants to pa}• when due any sums secured by this Morigage, Lender
~ prior to acceleration shall mail notice to Borrower ac provided in para~raph ~14 hereof specifying: (1) the breach; (2) the action
~ required to cure such breach; (3) a date. not less than 34 days from the date the notice is mailed to Borrower. b}• which such
~ breach must be cured; and (1) that fail~rc to cure such breach on or bcfore the dale specified in Ihe notice may reaolt in
~ scceleration of the sums secured by this Mortgage, forcclosure by judicial procecding and sak of the Property. 'Ilje notlce
shall furthtr inform Borrower of the riAht to reinstate atter acceleration and the right to assert in the foreclosure proceeding
~ the non-existence of a default or anv other defense of Borrower to acceleration and foreclosurc. If the breach Ls oot cnred on
or before the date specificd in the notice, [.ender at Leoder's option may declare all of the sunu secured by this Mortg~e to be
immediately due and payable without furiher deman~ and may foreclose thts !14ortgage by judicial proceeding. Lender shal!
be eatiUed tu collect in wch proceeding all expenses of foreclosure, including, but not limited to. reasonable attorney's fees,
and costs of documentary evidence. abstracts and title reports.
19. Borrower's Rlght to Reinstata Notµith~tanding I.en~er's acceleration of the sums secured by this Mortgage,
Borrower shall have the right to havc any prclcedings hegun h} t.ender to enforce this Mortgage discontinued at any time
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