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Leader's written ajreea~a~t or applicabb I:w. Borrowe~ ~all pay the amount oE aU nartsaje insunnoe pre~niuar ia the
manner provided unde~ para~aph 2 hereot.
Aoy amounts disbursed by Lender punuant to thit paa~raph 7. with iaterat tAe~+eon. shsll become additiond
indebted~ess ot Bo~rowe~ securod by this Monjate., Unless Bonowsr and Lender atra to other tema ot payaaEM. wch
ama~nts shall be payabk upo~ notice from Leode~ to Bomower requatirit payment theroot. and shail bear iMer~st iroa~ the
date of disbursement at the nte payabk fmm time to time on outstandina principal under the Nota unku paymant M
interest at such nte would be. co~tnry to applicabk taw, in which event such amou~t: shall bear interat at the hi~ raCe
permissibk ueder applicabk law. Nothin6 cootained in this paragrsph 7 shall t~equire Lendtr to incur any expe~aa or ttlte
any ~ction hereunder.
S. i~qectiow. Lender may make or cause to be made rcasonabk enlries upon and inspections of the Property. provided
that Lender shall give Borrowe~ notice prior to aey such inspection specifying rcasonabk cause thetefor rclated to I.~nder's
i~terest in the Property.
9. Condeia~atio~. The proceeds of any award or claim for damages, direct or consequential. in connection with any
condemnation or dhe~ taking of the Property, o~ part thercof, or for conveyance in lieu of co~demnation, are hereby assigned
a~d shall be paid to Lender.
ln the eveo! of a total taking of the Propeny, the proceeds shall be applied to the sums secured by this Mortaase.
with the exceu, ~r ~~y, paid to Borrower_ In the event of a pa~tial taking of the ~roperty. unku Borrower and Lender
othenvise agrce in writing, therc shall be applied to the sums •securcd by this Mongage such propo~tion of the proaeds
as is equal to that proportion which the amount of the sums secured by this Mortgaae immediately prior to the date of
taking bears to the fair market value of the Property immediately prior to the date of takin:, with the balance of the pmceeds
paid to Borrower.
if the Propeny is abandoned by Borrower, or if. after notice by Lender to Bonower that the condemnor o1[en to mate
an award ~r setUe a claim for damages,.Borrower fails to rapond to Lender within 30 days after the date such notice is
mailed. Lender ic uithorized to colkct and apply the proceeds. at Lender's option, eithe~ to ratoration o~ repair of the
Proper~y or to the sums securcd by this Mortgage.
Unless Lender and Borrower otherwise agrce in writing, any such application of proceeds to principal shall not exttnd
or pos~pone ihe due date of the monthly ins[allments referred to in paragraphs 1 and 2 heneof or change the amount of
such instaliments. `
19. dorrower Not Released. Extension of the time for payment or modiRcation of amottiution of ihe sums secured
by this Mortgage Etanted by Lender to any successor in intercst of Borrower shall not opente to reksse, in any manner.
the liability of the original Borrower and Borrower e successors in intercst. Lende~ shall not be required to commence
prc~ceedings against such successor or rcfuse to extend time for payment or otherwix modify amortiution of the tums
secured by ~his Mortgage by reason ot any demand made by the original Borrower and Borrower's successors in interest.
11. ForbeArasce by Leader Not a Waive~. Any fort+earance by l_ertder in-exercising any right or remedy hereunder..or
otherwise aBorded by ~pplicable law, shall not be a waiver ot or preclude the exercise of any such riaht'or remedy. .
The proc~irement of insurance or tht payme~t of taxes or other liens or chatges by Lender shall not be a waiver of I.ender's .
right to accelerate the maturity of the indebtedness cecurcd hy thi~ Morlgage.
12. Remedia Cnmulatire. All rcmedies pravided in this Mortgaae are distinct and cumulative to any other riaht ot
remeJy under this Mortgage or aBorded by law or equity. and may be exercised concurrcntly, independently or successively.
13. Soccessors a~d As~~s aound; 7oiat sad Sereral T.iabiliry; Csptions. 'll~e covenants and agreements herein
contained shall bind, and the rights hereunde~ shall inure to, the respective successors and assigns of Lender and Borrower,
subject to 1he provisions of paragraph 17 htreof. All covenants and ag~cements of Borrower~hall be joint and sevenl.
The. captio~s and headings of the paragraphc of this Mortgage are for convenience only and arc not to be used to
interpret or defi~e the provisions hereof.
14. Notice. Except for any notice rcquired 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 certitkd mail addressed to Borrower at
the Propeny Address or at such other address as Borrower may designate by notice to i.ender as provided herein, and
' (b) any natice to Lender shall be given by certified mail, retum receipt requested. to i.ender's addr~,ts statcd hercin or to
~ xuch other address as Lender may designate by notice to Borrower as provided hercin. Any notice provided for in this
~ Mortgage shall be deemed.to have been given to Borrower or Lender when given in the manner designatod hercin.
; 15. Unifona Mort~s~e; Governiu~ Law: Severability. This torm of morigage combinea uniform cove~ants for national
j use and n~~n-uniform covenants with limited variations hy jurisdiction to constitute a uniform socurity instrument coveri~6
C real propeny- This Mor~gage shall be governed by the law of the jurisdiction in whech the Property is located. In the
~ eveot ~hat any provision or clause of this Mortgage or the Note conflicts with applicabk Jaw, such conflict shall not aftect
other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
~ end the provisions of the Mortgage and the Note are cieclared to be severable.
~ 16. Eorrowcr's Copy. Borrower shall be furnished a conformed copy of the Note and of thi~ Mortgage at the time
of eaecution or aNer recordation hercof.
17. Trmsfer of the Propedy; Assumpt'an. If all or any pan of the Property or an interest therein is sold or transferred
~ by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbnnce subordinate to .
this Mortgage. (b) the creation of a purchax money security interest for household appliances, (c) a transfer by devi:e.
~ descent or by operation of law upon the death of a joint tenant or (d) ihe grant of any leasehold interat of three years or kss
nol containing an option ta purchase, Lender may, at Lender'~ option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option ta accelerate if, prior to the sale or transfer, Lender
and the person to whom the Property is to be sold or transferred reach agrcement in writing that the crcdit of such person
is satisfactory to Lenckr and that the interest payable on the sums secured by ihis Mortgage shall be at such rate u Lender
~ shall rcquat. If Lender hu waived the option to accelerate provided in this paragraph 17, and if Borrower's succasot in
interest has exceuted a written assumption agreement accepted in writing by i.ender. Lender shall rclease Borrower from all
~ obligations underthis Mortgage and the NMe.
If Lender exercises such option to accelerate. Lender shall mail Borrower notice. of accekration in accordance with
paragraph 14 hercof. Such notice shall provide a period of not las than 30 days from the date the notice is mailed within
which Borrower may pay the sums doclarcd due. Tf Borrower fails to pay s~~ch sums prior to the expintion of such period.
Lender may, without fu~iher notice or demand on Borrower, invoke any remedia permitted by paragraph 18 hercof.
~ Nox-UH~FORM CoveH~rrrs. Borrower and.Lender further covenant and agree as foUows:
Y la. Acceleratio~; Re~edia. E~cce~t as provided io ParaLnph 17 6ereof, ~ aorrower's 6reacr ot ~r co~ea~t o~
~ a~reement of Dorrower iw this Mort~e. i~cbdiu~ tl~e co•enawts to py wl~ew dw s~y a~ sa~uea by tWs 1~1o~a~e. Lade*
~ prbr to sccderatfo~ sla~ ~ail notke to dorrower as provided L pan6rapb 1~ rertot s'ecit7i¦~s (1) t~e i~+eac~ (2) tie aetio~
e~e~nired to crre s~e6 M~esc6; (3) a date. aot las tbaa 30 dars trow t6e dde t6e ~otlce Is w~ to Sonower, b~r wrici s~cY
; breacM must be nred: sod (4) t6at fail~re b ca~e sticM brescM o~ or bdore tMe ~ate ~eciled Y tbe wMiee ~ e~arlf M
~ secelcrdio~ ot tre so~s sec~rea by U~is Mort~s, tor~eciosare bp jrdkW ~ocadi~L a~i s~te vf tre ho~eet~r. 7tie ~ofice
~ s~all tnrihe~ hfona dotrower ot t6e ~rt b rei~stNe after accderMio~ avi tie ei~f~t b arert io tre foreeioane ~utee~
tbe now-esi~teace ot a detaok or aoy dber defease of farrower to accekratie~ aai toreelowe. It tre 6reae~ i~ ~ot errei o~
or d~efore tre ds~e ~pec~ied i~ tre ~otice, I.e~der M I.e~ier's optlo~ ~ry deciare sN d tre ss~i seewsi by tliis Mo~e to 6e
imioedi~tdy a~e asi pyabk witbrt E~tber desa~d a~i war forecbse 1~ Morl~e ~p }iieW lrooeedh~- Le~ie~ da¦
ee e~fHled fo co9ed ~ sKi ~oceedi~ a¦ e:peosa ot torsclosrre, isel~di~. brt ~ot Y~ei to, rea~oMiie att~ne~s tas,
ad co~is of iocr~ e~Wewce. sbdr~cb awa title reprls.
14. somuwei's RiRN to ReLNate. Notwithstanding Lender's accekration of the wms securod by this Mortjaae.
Borrowet shall have the right to have any procecdings begun by Lender to enforoe tha Mortp~e di~continued-at any time
~ ~ a~42~9 P~F 97'0
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