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Lender's written agreement or apQlicable taw. Borsower shail ps?y the amount of all mottgage insuranc~ pnmiums in the
maaner provided under paragraph 2 hereof.
~ Any amounts disbuned by Lender punuant to this paragnph 7, with~ iaterat therean, ahatl become additicx~al
indtbtedness of Sorcowcr securcd by this Mortgage. Unless Borrower and GenJer agree to other terms of payment. such
amour?ts shall be payabk upon notice from Lende~ to Borrower requesting paymtnt thereof, and shalt bear interest from tfie
date of disbursement at the nte payable from 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 inttrest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action heceunder.
8. Iaspertlon. Lender may make or cause to be made reasonab:e entries upon and inspections of the P'roEferty, pcovided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's _
interest in the Property.
9. Condemaatbn, The Qroceeds of any award or claim for damages, dirxt or conuquential, in cohntction with any
condemnation or other 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 event of a total taking of the Pmperty, the praceeds shall be applied to the sums secured by this Mortgage.
with the excess, if any, paid to Borrower_ i~ the event of a partial ta4:ing of the Property, unless Borrower and Lender
' otherwise agrce in writing. there shall be applied 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 by this Mortgage immediately prior to the date of
taking bears to ifie fair market value of the Property immediateiy prior to the date o( taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned by Borrower, or if, after notice by Lender to Bormwer that the condemnor otfers to make
an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
maited. Lender is authorized te col{ect and apply the proceeds, at I.ender's option, either to restoration or repair of the
Property or to the sums secured by this Mortgage,
Unless Lender and Borrower otherwise agree in w~riting, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred ta in paragraphs 1 and 2 htreof or change the amount of
such installments.
10. Borrower Not Released. Extension of the time for payment or modiftcation of amortization of the sums secured
by this Mortgage granted by t_ender to any successor in interest of Borrower shall not opetate to release. in aoy manner.
the liabiliry oE the origina! Borrower and Borrower's successors in interest_ Lendtr shall nol be required to commence
proceedings against such successor or refuse to ertend time for payment or otherwise modify amortization oF the sums
secured by thix Mortgage by reason of any demand made bp the ori¢inal Borrower and Borrower's successors in interest.
11. Forbearance by i.ender Not r Waiver. Any f~rhearance by I.cnder in exercising any right or remedy hereunder, or
otherwise afiorded by applicable law, shall noc he a waiver af or preclude the exercise of a~y such tight or remedy.
The procurement of insurance or the payment of taxes or other iiens or charges by I.ender shall not be a waiver of [.ender s
right to accelerate the maturity of the indehtedness ucured hy thic Mortgage.
12. Remedks CumulaNre. All remedies providcd in this Mortgage are distinct and cumulative to any other right or
remedy ~mder this Mortgage or afforded hy iaw or equity, and may be exercised concurrently, independently or successively.
13. Soccessors and Asseqns Bound; Joint and Se~~ers! i.iabillty; Csptbns. The covenants and agreements herein
contained shall bind, and the ri¢hts hereunder shall inure to, the respective successors 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.
The captiong and headings of the paragraphs oF this Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notke. 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 s~~ch otfier address as Borrower may designate by notice to i.ender as provided herein, and
i (b) any notice to Lender shall be given by certified mail, retum ~eceipt requested. to i.ender s address stated herein or to
i such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or t_ender when given in the manner designated herein.
IS. Uniform Mortgage; Governin~ Law: Severabiiity. 'This form oi mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. This MortgaRe shall be governed by the law of the jurisdiction in which the Property is located. In the
~ event that any provision or cla~ise of this Mortgage or the Note conflicts w~ith applicahle law, such conflict shal) not affect
other provisions of this Mortgage or the Note which can be given efTect without the conflicting provision, and to this
~ end the provisions of the Mortgage and the Note are declared to he severable.
16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
[ of execution or after recordation hereof.
I7. Tnnsfes of the Property: Assumption. if ali or anp part of thc Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent, excluding (a1 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 devise,
, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
not containing an option to purchase. Lender may, at Lender's option, declare a11 the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lendes
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 payable on the sums secured by this Mortgage shall be at such rate as Lender
shall request. If Lender 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, Lender shall release Borrower from al!
; obligations under this Mortgage and the Note.
if Lender exercises such option to acceierate. Lender shall mail Borrower notice of acceleration in accordance with
~ paragraph t4 hereof. Such notice sha{1 provide a period af not less than 30 days from the date the notice is mailed within
! which Borrower may pay the sums declared d~e. Tf Borrower fails !o pay such sums prior to the ezpiration of such peciod,
~ Lender may, without further notice or demand on 13orrower, invoke any remedies permitted by paragraph 18 hereof.
i
' Nox-Ut+~~oRt~t Caverr,?r?TS. Borrower and Lender funher covenant and agree as fo!lows:
; 18. Acceleration; Remedks. Except as provided in paragraph 17 hereof, upon Borrower'a bceach of any covenant or
agreement ot Barrower ie thts Mortgage, including the coveaaats fo pay w~hen due aay sams secored by this Mort~sge, Leoder
prbr to'ccekratbn shall maii aotlce to Borrower as provided in pars~graph 14 hereof specifying: (t) the breacb; (2) tbe action
requ[red to care au6 brwch; (3) a date, oot less than 30 d~ys from the datc tbe notice is mailed to Borrowu, by wbic~ soch
breach muat be cured; sad (4) that failure to cure snch breach on or before tbe date speciBed h the natke ma~ resatt in
accekratioo of tfie aoau securcd by thi~ Mortgsge, forecbsurc by judicia{ proceeding ~d sale ot t6e Properry. 'd~e notice
sfial{ further iaform Borrbwer of tbe right to reinstate after ~cceleration and tbe rfght to arert in tbe fortcksa~s proceedE~
the noa-existence of a deEank or anY othe~ detense of Borrower to accekrstbn and forcclosare. if !he Dreacb is ~t care3 on
or betore tbe date specified in tbe notice~ i.endtr at I.endsr'e option may dtclare aq of the sQms secnced bp this Morqsa`e b be
z irnmetiiatdy due and payabie ~vitboot fu~ther demand ~nd may forcclo~e thb Mortaage by jodkial ptoceediaa• Lesder shaq
4 be entided to rnllect la wch proceeding ali e:penaes of forcclosurc~ iocludiu~, but not Hmfted to, naeoaabk attorney's fees,
and costa ot docnmeatary evideoce, abstrscts a~ titk ripotfs.
19. Borrower'a Rfght to Rein~tste. Notwithstanding Lender's acceleration of the sums secured by this Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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