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Leackr's writtea aararriwt or applicable law. Borrower ahall pay the atnount of all tnoK~age iosuranoe pt+eaniums ia the
manner p~ovided under parafraph 2 hereof.
Aay amounb disbur~ed by Lender pursuaat to thit paragraph 7, with interest thereon. shdl become additional
indebtednas of Bomower secured by this Mortgage. Unless Borrower and Lender agr+ee to other terau of paymea~ such
amounts sha11 be payabk upo~ ~ot~ee fmm Lender to Borrowe~ rtquesting payment thercof. and shall bea~ interat from the
date of disbursement st the rate payabk from time to time on outstandtna principal undec the Note unless payma~t of
interat at such rate would be contrary to applicabk law. in which event such amounts shall bear interat at the hi~heat nte
permissibk under applicabk law. Nothing oontained in this paragraph 7 shall roquire Lender to incur any ezpense or talce
any action hereunder.
S. Taspectios. Lender may make or cause to be made reasonable entries upon and inspections of the Property. pmvided
that Le~de~ shall give Borrower notice prior to any such inspection specifying reasonabk cause thenfor related to Lender'a
interest in the Property.
9. Coadeisaaflua. The proceo~s of any award or claim for dunagcs, direct or oonsequential. in connection with any
condemnation or other taking of the Property. or part thereof. or for conveyanc~ in lieu of condemnation, are hereby assigned
and shall be paid to Le~der.
In the event of a total taking of the Property, the proceeds shall be applicd to the sums securcd hy this Mortgage,
with the excess, if any, paid to Borrower. In the event of a pahial taking of the Property. unless Bomower and Lender
otherwise agrce in writing, there shall be applied to the sums secured by this Mortgage such prnportion of the proa~eds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to ihe date of
taking bears to the fair market value of the Prope~ty immediately prior to the date of taking, with the balance of the proceeds
~ paid to Bc~rrower.
If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the oondemnor offera 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
mailed, Lender is authorized to rnllect and apply the proceeds, at Lender's option, either to ratoration or repair of the
Propeny or to the sums secured by this MortFtage.
- Unless Lender and BOrrower otherwise agree in writing. any such application of proceeds to principal shal) not extend
or postpone the du~ date of the monthly installments referred to in paragraphs 1 and 2 hereof or chaoge the amount of
such ~nstallments.
10. Borrower Not Rekased. Extension of the time for payment or modification of amortization of the sums sxured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to rekase, in any manner.
the liability of the original Borrower and Bc~rrower s successors in interest. Lender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the aums
secured by this Mortgage by reason of any demand made by the orieinal Borrower and Borrower's st~ccessors in intecest.
ll. Forbearance by Lender Not a Walver. Any fofiearance by I_cnder in exercising any right or remedy hereunder, or
otherwise afforded by applicahle law, shall nat he a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be. a waiver of Lender's
right to accelerate the maturity of the indebtcdness stcured hy this Mortgage.
l2. Remedies Cnmulative. All remedies provided in this Mortgage are distinct and cumulative to any othtr right or
remedy under this Mortgage or afforded hy law or equity, and may be exercised concur~+ently, independently or successively.
13. Successors and Assigos Bound; Joiat and Sereral i.iabNfy; Captions. 'il~e covenants and agreements herein
contained shall bind, and the rights hereunder shall inore to, the respective successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants a~d agreements of Borrower shall be joint and several.
'i~e captions and headings of the paragraphc of this Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof. ' -
14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortga¢e shall he given hy mailing such natice by certified mail addressed to Borcower at
the Property Address or at such other address as Borrower may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall be given by certified mail, retum receipt requested, to I.ender s address stated herein or to
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 I_ender when given in the manner designated herein.
15. Uniform Mortgage; Govcmin~ Law: Severability. This form of mortgage com6i~a uniform rnvenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument rnvering
; real property. 'Ibis Mortgage shal) be governed by ihe law of the jurisdiction in which the Property is located. In the
t event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shal) not affect
~ other provisions of this Mortgage or the Note which can be given effect without the conflicting pmvision, and to this
end the provisions of the Mortgage and the Note are declared to be severable.
~ 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note aod of this Mortgage at the time
; of execution or after .c+ecordation hereof.
17. Tnosfer of tLe Property; Assnmption. if all or any part of the Property or an interest therein is sold or transferred
by Borrow•er without L.ender's prior written consent, excluding (a) the creation of a lien or encumbrance subotdinate 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 intercst of three years or less
not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Mortgage to be ~
immediately due and payable. Lender shall have waived such option to aceelerate if, prior to the sale or transfer, 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 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 all
obligations under this Mortgage and the Note.
, tf Lender ezercises such option to accelerate. Lender shall mail Borrower notice of accekration in accordance with
paragraph 14 hereof. 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 sums prior to the expiration of such period,
Lender may, without further notice or demand on 13orrower, invoke any remedies permitted by paragraph i 8 hereof.
f Nox-U~rtFORM CovEx~rrrs. Borrower and Lender further covenant and agree as follows:
~ 18. Accde~Koe; Remedies. Ezcep as pwvided is pangrsp6 17 hcreot, ~poo Eorrowe~'s Meac6 ot aoy co~e~ut oc
~ a~nemeat oE Bormwer iu ti~ Morfaa6e, iacla~ia~ the corenants to p~y w6ee due aey soms secnred by t6is Morf~a~e, Le~der
~ prior to accderatioa sbaB mail aotice to Borrower a~ provided iw pua6~sph 14_6ereo# specif~: (1) t~e beeac6; (2) tre sctio~
~ rcqain~ to care s~c6 bresc6; (3) a d~be, ~ot !as t`an 3A days from tre date t~e sotice 4 maikd to Bor~+ower, 6ry wtiic~ a~eb
~ bresc6 mmt be cared; aad (4) t5at failure to cnre src6 breach on or befae t6e dste sta~d ~ tbe ~otke m~ rsWlt f4
accderatio~ of tre was secored by t6is Mo~e, ~[orulowrc by j~dicial proceedle~ a~ sak ot t~e Propert~. '!tie ~otice
; shall fari6er iafor. Borrower of tbe rialN to reia~tate after accelerstioe asi t~e ri~6t to awert i~ tlk torcclowre proce~
t tLe ~oe~ezistesce ot a deEaait or aoy otber defeo~e of Dorrower to accdentioa aed forecloan+e. tt fie brescb b~ot c~u~d a~ .
~ or 6etore t6e date speci~ied i~ tre ootlce, I.e~der at I.e~der's optio~ mq decW~e d oE tMe soias secarei bY t~i Mo~f~e b be
~ immediatdy dre a~d pnyabk witro~ tartber dewod and may foreclose t6i~ Morf~e bp jrdicW N'oceed~. Leader ~6d1
6e sst[tkd to co8ect in s~ proceedto` a1 espewa of forecbars, ioclodin~, bof ~ot ~mitei to, ~easo~tWe attorse~'s tees,
aed casts of doc'~ evideace, a6Aracb aad tiHe _rePorb.
~ 19. Eomnwer's Ri~t to lteldtata Notwitlutanding I.ender's acxekration of the swns secured by this Mortgage,
Bonovrer shall have the right to have any proceeding,s begun by L.ender to enforce this Mortgage discontinued at any time
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