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<br />ILcndet"s w~,dttan a~gxeemietit or app)ical~e iaww. 13c?rr~ir€,wes r~~~all y the arne~urnt ad all ma;igagm tins=~~rancs prsrni~^r= in tl-,e
<br />maum.r proviided utxler paragraph ~ hereeai.
<br />Any amounks disbursed by Lender peunttarsit. to this paragraph 7. with inttn~st thtstcxt. sheet h+ec~aerr additional
<br />iredeb?edness of Borrower secured by this Mortgage. Unless Borrower and Lrnder agree to other arms at payment, suds
<br />arttottnu shall be payable upon notice from Lender to Bcrrsswer requesting payment tlttreaf, and shall bear in*_erest from the
<br />date of disbursement at the rate payable from time to time on ouutartditng principal under the Note ttnkss paytnmt of
<br />interest at such raft wat)d be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
<br />permissible under applicable law. Nothing *,orttained in this paragraph 7 shall require Lender to incur any expense of take
<br />amt action hereunder.
<br />S. inspection. Lender may make or came to be made reasonable entries upon and inspections of the Property. provided
<br />that Lender shaft give Borrower notice prior to arty such inspection specifying -casonabM cause therefor related to Lender's
<br />imerest in the Property.
<br />9. Caademtnttion, "the proceeds a€ any award ar claim for damages. direct or consequential, in connection with any
<br />condemnation or other taking of the Property. or part thereof, ar for conveyance in lieu of condemnation. are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a total taking of the t'rope:2y, rite proceeds shad be applied to the sums secured by this Mortgage.
<br />with the excess. if any, paid to Borrower. In the event of a partial taking of the Proptm•. unless Borrower and Lender
<br />otherwise agrce ir. writing, there shall be applied to the sums secured by this Mortgage each proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
<br />taking bears to the fair mazket valor of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after Halite 6y Lender 20 Borrower that the condemnor offers to make
<br />an award or sertle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property or to the sums secured by this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of precceds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10, Borrower Not Released. Extensior. of the time far payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceed"togs against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />scFUred by this Mortgage by reason of any demand made b}• the origina! Borrower and Borrowers successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, of
<br />otherwise afforded by applicable taw, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procuremtnt of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently, independently or successively.
<br />13. Successors and Assigns Honnd; Joint and Several i,iability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject io the provisions of paragraph 17 hereof. Ai! covenants and agreements of Borrower shall be joint and several.
<br />The captions and htadings of the paragraphs of this Mortgage are for convenience only and are trot to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. P_xttpt for any notice required under applicable law to be given in another manner, (a) any natitt to
<br />Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested. to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shalt be deemed to hart been given to Borrower or Linder when given in the manner designated herein.
<br />1S. Uniform Mortgage; Governing Law; SeverabBity. This form of mortgage combines uniform covenants for national
<br />tree and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of this Mortgage or the Nott conflicts with applicable law, such conflict sha'.1 not affect
<br />other provisions of this Mortgage oe the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to he severable.
<br />18. Borrower's Copy. Borrower shall be €urnished a eonfarnted copy of the No*.e and of this Mortgage at the lime
<br />of execution or after recordation 6ertaf.
<br />17. Tran~er of the Property; Axtrmption. If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />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
<br />not containing an option to purchase, Lender may, at Lender's option, declare ail the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or transferred reach agrcement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
<br />shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
<br />interest bas executed a written assumption agreement accepted in writing by Lender, Lender shalt release Borrower from all
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />pazagraph 14 hereof. Such notice shalt provide a period of Hat less than 30 days from the date the notice is marled within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such st;ms prior to the expiration of such period,
<br />Lender tray, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1g hereof.
<br />Neat-Ut+ttrattM Cttveataatrs. Borrower and Lender further covenant and agree as follows:
<br />I8. Accekrafioa; Remettles. Fscept as provided in paragraph 17 hereof, upon Borrowers breach of any covsaaai or
<br />agt+eemeot M Borruvrer io this Mortgage, including the covenants to pay when doe any sums secured by this Morlgagq
<br />Lesdtr prior to aecekpttan shag ~ entice to Borrower es provided in paragraph 14 Hereof spceifyi~: (1) the breach;
<br />(~ ~ saYlon aeSaitsd to tern sack breach: (3) a date, Hat leas rhea 30 days Exam the date tiar notice k muted to Borrower,
<br />by which mch breach mnR be cared; sad (4) that torture to cure anch breach ou or before the date specified in the notice
<br />~ xemdt in secderataoa of the rams steered by this Mks, foreclosure by jtrdicisl proceeding and sale M the Property.
<br />The aotla aha10 further ~teras Borrower t~f the right to reltttstate after acceletafion and the right W assert m the foreclosure
<br />proceedlag the aoa-s~nee of a defardt or any other detract of Borrower to accekralbn and foreclosure. H the breach
<br />b nut toted on or before the date fe the aptiee, Lender at Lemler s option may declare all of riot sums secured b3'
<br />thht Mo-tgdge to be immediahlp due Had payable wilhoot further demand and may foreclose by judkial Proceeding. Lender
<br />abate fie enlt4fed to eoBeet 6a such proeeetllug aB etcpeoses of forecbsure, incladbtg, bat not limited to, cash of docementary
<br />evideaee, ahstracts sad tNle reports.
<br />13. Bturowsr's far Rematsrte. Notwithstanding Lender's acceterat"von of the sums secured by this Mortgage,
<br />Borrower shalt have the tight to hart any proceedings begun by Lender to enfcree this Mortgage discontinued at any time
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