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Lender's written agreement or applicabie law. Borrower shaU pay the amount of all mortgag~ insurance premiurt~ i~ the
manner provide~ under paragraph 2 heroof.
Any amounts disbursed by Lender pursuant to this parag~aph 7, with interest thercon, shal) become additional
imiebtedneu of Bo~rower secured by this Mortgage. U~less Borrower and Lende~ agree to othe~ terms of payme~t. such
amounts shal) be payable upon notice from i.e~der to Borrowcr rcquesting payment thereof, and shall bear interest from the
date of disbursemeot at ttie rate payable from time to time on outstanding pri~cipal under the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amou~ts shall bea~ interost at the highest rate
permiuible under applicabk law. Nothing contained in this parag~aph 7 shall rcquire I_ender to incur any ~xpense or take
any action hereunder.
8. Inspectbw. Lender may make or cause to be made rcasonable entries upon and ins~ectians of the Pmpeny. provided
that Lender shall give Borro3ver notice prior to any si~ch .inspectian specifying rcasonable caux thercfor related to Lende~'s
interest in tht Property.
9. Coademaatba The proceedc of any award or claim for damages, direet o~ con~equential, io connection with any
condemnation or otl~er taking of the Property, or pari thereof, or for conveyance in lieu of condemnation, are hereby assigned
and shall be paid to Lender.
In the eveM of a total taking ~f the Propeny, the proceeds chall be applied to the sums securcd by this Mo~tgage.
with the excess, if any, paid to Borrower. Tn the event of a pa~tial taking of thc Property, unletc Borrowe~ and L.ender.
o~herwise agree i~ writinR, there shall be applied ta the sums secured by thic Mortgage such propo~tion of the proceeds
as is equal to that praportion which the amount of ~he sumc xecured by this Mortgage immediately prior to the date of
taking bears to the fair market value uf ihe Properly immediately prior to thc date of taking, with the balance of the proceeds
paid ta Borrower.
If the Property is abandoned by Borrawer, or if. after ootice by i_ender to Bormwer that the condemnor ofiers to make
an award or xttle a claim for damagcs, Borrower fails to respand to i.ender within 30 days after the date such notice is
mailed. Le~der 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 hy this Mortgage.
Un~ess I.ender and Borrower otherwice agree in w•ritine. any such application of proceeds to principal shal) not extend
or po~tpone tne due date of the monthly installments rcfcrrcd to in paragraphs 1 and 2 hereof or change the amount of
such iostallments. '
10. Borrower Not Rclessed. Extenxion af the time for payment or modificatio~ of amortization of the sums secured
by this Mort~tage granted by I_ender to any successor in interest of Borcower chall no1 operate to release, 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 suth successor or refuce to extenJ time for payment or othervvise modify amortization of the sums
secured by this Mortgage by reason of any demand made b~• the orieinal Borrower and Barrower's succescors in interest.
11. Forbearance by'T.ender Not s Waiver. Any forhearanrc by Lcnder in erercisi~~g any right or remedy hereunder, or
otherwise afTorded by appiicahle law, shall not 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 I.ender shal) not be a waiver of Lender's
right to accelerate the maturity of the indebtcdnecc ccrured hy thi~ Mortgage. .
l2. Remedies Comulatire. All remedies provided in this I?tortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity. anJ may he exercised ccmcurrcntly, independently or successively.
13. Soccessors and A~ns Bound; Joint and Se~~eral T.iability; Captions. The covenants and agreements herein
contained shall hind, and the rights hereunder shall im~re to. the rcspeclive succes.cors and assigns of Lender and Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreementc of Borrower shall be joint and several.
The captions and headings of the paragraph~ of this Mortgagc are for canvenience only and are nat ta be used to
interprct 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 Martgage shall he given hy mailing cuch notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrow•er may designatc by notice to l.ender as provided herein, and
(b) an~~ notice to Lender shall he given by certifa;d mail, return receipt requested. to I.enders address stated herein or to
cuch other address as Lender may designate by notice t~. Borrower as .provided herein. Any notice provided for in this
Mortgage shall be ~feemed to have been given to Borrower ~r l.ender when given in the martner designated herein.
l5. Uniform Moirtgage; Goremin~ I.aw; Severabilit~. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with IimiteJ variations h~~ juriuiiction to constitute a uniform security instrument covering
real pr~perty_ This Mortgage shall be governed by the law of the jurisdiction in which ~he Property is located. in the
event that any provision or clause of this Mortgage or Ihe Note conflicts w~ith applicable law, such conflict shall not affect
i other provisions of this Mortgage or the Note ~~hich can be given efTect withoat -the contlic~ing provision, and to this
E end the provisions of ~he Mortgage and the Note are declarcd to he severable_
16. Borrower's Copy. Borrow~er shall bc furnished a.conformed copy of thc Notc and of this Mortgage at the time
~ of execution or after recordation hereof.
~ 17. Transfer of the Property; Assumption. if all or any part of thc Propcrty or an interest therein is sold or transferred
~ - by Borrower without Lender's prior written consent. exduding (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 devise,
~ descent or by operation of law upon the Jeath af a joint tenant or (d1 the grant of any leasehold interest of three years or less
not containing an option to purchase. I_ender may, at Lender't option. declare all ~he sums secured by this Mortgage to be
immediately due and payable. Lender shall have wai~•ed such option to accelerate if, prior to the cale or transfer, I.ender
and the person to whom~the Property is to be so1J or transferred reach agreement in writing that the credit of such person
~ is satisfactory to Lencler and that the interest payable on thc 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 B~rrower's successor in
interest has executed a written assumption agreement~accepted in writing by I.ender; I_ender shall release Borrower from all
~ obligations under this Mortgage and the Note.
tf Lender exercises such option to accelerate. Lenckr shall mail Borrower ~otice of acceleration in accordance with
~ paragraph 14 hereof. Such notice shall provide a periocl of not Iess than 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 permiUed by paragraph 18 hereof.
Nort-U~tFORt?t Covex~NTS. Borrower and I_ender funhe~ covenant and agree as follows:
~ 18. Accekration; Rcmedies. Except as provided in parsqraph 1'7 hereof, ~p eoRO..~rs ~~~n ot ~y ~o.~~t or
' agreement of Borrower lo this Morfgage, iaclu~~ !he covenants to pay when due any snms secnred br tWs Mort~a~e, I.ender
x prior to accekr~tioe s6a11 mail notice to Borrower as provided in paraaraph 14 hereof specif~: (1) t6e breac6; (2) N~e actioa
~ requlred to cere snch breac6; (3) a date, not le~ Wan 30 days from the dde t6e notire Ls maikd to Eorrower, by wricb snc~
~ breacb must be cared; and (4) tLat fsilurc to cure sacfi breach oa' or before tbe date speci6ed ia tbe notke may renlt ia
~ accdention oE t6e anms aecured by thLs Mortgage, forecbsurc by judjcial proceeding and sak of tbe Pmperty. 'I~e wotke
~ shall.fnrtber faform Borro+ver of tue
~ rigbt to reiastate after sccekration and t6e ri;6t to asseirt in tLe forecla~wre proceedis6
~ the non-existence of a def,utt or any Mher defense of Borrower b accekratioa and foreclowre. if tbe breacb is eot c~d oq ~
or before the date specified in the notice. Lender at Len~er's option may dechre a8 of the sn~ seeured by this Mort~e to be p
immediatdy doe aad payabk witleout furt6er demand and' may toreclose this Mortsage 6y judicW proceedio~. Leader s~at! `
be eatitled to edket in wch proceeding all expeoses of foreclosure, iocludins, bet not limlted to, re~onabk attoroey's fas,
aad co~ts of docnmenhry eridence. a6stracb and titk reports. !
~ 19. 8orrower's Right to Reiastate. Notwithstanding Lender s acceleration of the sums securcd by this Mortgage. ;
Borrower shall have the right to have any proceedings hegun by i_ender to enforce this Mortgage discontinued at any time ?
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