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<br />Ltsrle:"s wr8tan agrctemsat ~ appllic~alak lasrr. Borrc~w~ idpail pay tlht eta of a7i tnarpgage irnsurcancx p~rermiamme in time
<br />manner pt'ovidtd welder paragraph' 2 haroof.
<br />Any amarnts disbursed by Leader pursuant to the paragraph 7. with irterest thereat. shat! betane additirxtal
<br />indebtednes of Harrower setuted by this Mortgage. t;nless Horrawer and Lender agree to other tetrtn of payment. suit
<br />amwnts shall be payable upon notice from Lender to Borrower regtttstirtg payrrurtf thcrmf, zrtd shall bear irnerest from the
<br />date of disburument at the rate payable from tutu to time on outstatxding principal under the Note unless payment of
<br />interest at such rare would be contrary to applicable law, iri which tutor salt amouras shag liar lrnerest at the highest rate
<br />permisable wader applicable law. Nothing contained in this paragraph 7 shall requite Lender to incur aay expeme or take
<br />any action hereunder.
<br />8. itupecfioa. Lender tray make or cauu to be made reasonable entries upon and irtspeMiorrs of the Property. provided
<br />that bender shalt give Harrower notice prior to any such ittspedion spxifying reasonable cauu therefor related to Lenders
<br />interest in the Property.
<br />9. Coodemnatio'. The proceeds of any award ar claim for damage. direct or consequential, in conneMion with any
<br />condemnation or other taking of the Property, ar part f'rrereof, ar far conveyance in lieu of condemnation. are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a total caking of tbe Property, the proceed shall be applied to the sums secured by this Mortgage.
<br />with the excess, if any, paid is Borrower. In the event of a partial taking of the Property, unlr~ss Borrower and Lender
<br />atherw-ise egret in writing, there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to i;,c .'.ate of
<br />taking bears to the fair market vahre of ebe 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 notice by Lender to Borrawcr that the condemnor offcn to make
<br />an award or settle a claim far damages. Borrmver fails io respond to Lender within 30 days after the date such notice is
<br />mailed, Lender is authorized to collect artd apply the proceeds, at Lenders option, either to restoration or repair of the
<br />Property or to tilt sums serrred by this Mortgage.
<br />Unless Lettder and Borrower otherwise agrce in writing, any such application of proceeds to principal shall noL extend
<br />or ptt~pone the dare date of i}x monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such ins[aIitncnts_
<br />1@. )tarrower 1Vot iitekased. Eztcnsion of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any sttccessor in interest of Borrower shall not operate to reteau, in any manner,
<br />the tiattility of the original Borrower and Borrower's successors in interest. Lender shad not be required to commence
<br />proceedings agairfst sxtch successor or refuse to extend time for payment or otberwiu modify amortization of the sums
<br />secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
<br />11, Forheaayere bq Lander Not a Raver. Any forbearance by Lender in exercising any right or remedy hereunder. or
<br />otherwiu afforded by applicable law, shall not be a waiver of or preclude the exerciu of any such right or remedy.
<br />The ptrocurcmeM of irrsurartce ar tie payment of taxes or other liens o.* charges by Lender shalt not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Mortgage.
<br />I2. Remedies C®aLHve. 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 Ix exerciud concurrently, independently or srrccesaively.
<br />13. Successors sad As~ws Sossd; Joint and Several f,iabHlry; Captloss. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder "shall inure to, the ttspec*.ive sr.~..essors and assigm of Linder and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Harrower shall be joint and several.
<br />'Ihe captions and headings of the pazagraphs of this Mortgage are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to be given in anoeher manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall be given 6y mailing suh notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may ~°ignate by notice to Lender as provided herein, and
<br />tb) any notice to Lender shall be given by certified mail, return receipt requested. to Lenders 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 shall be deemed to have been given to Borrower or [.ender when given in the manner deignat~ herein.
<br />13. UnBor® Mortgage; Govern[og I,aw; SeverabHity. This form of mortgage combines uniform tovenants for national
<br />use and rtott-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
<br />teat property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In t1u
<br />event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shaft not affect
<br />ether provisions of this Mortgage or the Note which can be given effect without the conflicting prevision, and to this
<br />end the provisions of the Mortgage and the Note are declared to be uverable.
<br />16. Borrower's Copy. Borrower shall ate furnished a confatmed copy of the Note and of this Mortgage at the time
<br />of execution or after recordation hereof.
<br />IT. Trssssfer of tie Property; A~amption. If all or any part of the Property or an interest therein is sold or transferred
<br />6y Borrower without Lender's prior written consent, excluding (a) the creafioo of a lien or encumbrance subordinate to
<br />this Mortgage, (b) the creation of a purchase money security interese for houuhold appliances, (c) a transfer by devise,
<br />descent or by operation of taw upon the death of a joint tenant or (d) the grant of any leauhald interest of three years or less
<br />not coataining an option to purchau, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
<br />immediately due and payable. Lender shall have waived such option to aceelerate if, prior to the sale or transfer, Lender
<br />and tie person to whom the Property is to be sold or transferred reach agreement 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 rats as Lender
<br />shall request. if Lender has waived the option to accelerate provided in tits pazapraph l7, and if Borrower's successor in
<br />interest bas exceuted a written assttmption agreement accepted in writing try Lender, [.ender shall release Borrower from alt
<br />obligations under this Mortgage and the Note.
<br />If Lender exercises such option to accelerate, Ixnder shall mail Harrower notice of acceleration in accordance with
<br />paragraph l4 hereof. Such notice shall provide a period of not less than 30 days from the date tie notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br />Lender tray, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Nox-Uxitatatt CovErrexrs. BorTOwer and Lender further covenant and egret as follows:
<br />Itt. Aceekrabe; Remedies. EseePt sa provided iu paragraph 17 hereof, upon Borrower's breach of say covessat ar
<br />a)Sreement of $orrower i thie Mortgage, inclndirtg the covenants to pay when due any sums aectsed by thk Morf~e,
<br />iesder prior to atceleratioe s1raB maH notice.to Borrower as provided in paragraph 14 hereof speciipiag: (p the breach;
<br />(2} tieaetion to care such irtaeb; (3} a date, sot lees '6aa 30 days from ~ date tie notice b milled m Borrower,
<br />by e6Jci ave6 irertch mint be cared; ssrd (4) fiat faBare to tare each breach ou or bdore tie daft specified is the aotlce
<br />euy-rash Llacs of Bre-sutgs seetxed by tits Mbttgsge, foreclt>aure by jadicia procee~ag sad ~ o[ the PrnpeRy.
<br />The aoticasWt fattier isdotmBorrower of dre r~it to reinstate after acceleration-and tine right to a®ert is tie foreclosure
<br />me ^sutsiaesce of a detauit or say otbsr_ defeffie of Borrower to acceleratba sail forecfossre. N the 6reac6
<br />is-sot cased oo ~ before the d~ spadBea i@ tie notice, ti,tader at I.cnder's option may declare aH of the sans scented by
<br />tYi to >x immedisidy doe sad psyabie without fnriher demand sad may forecbse by judicial proceeding. Leader
<br />eimH bt eirWkd to co~M hi sari ~ eapeasea of Ponclosux, fadadh~g, but sot Ihrdted ta, coals of docameatary
<br />ear, abedractraad Wee rsporia.
<br />19 '@OSCOwts's Bf~ ~ Bdryrtda. Notwithstanding Lender's accekratioo of the sums secured by this Mortgage,
<br />Ilttrrower shall have i6e right to lave any proceedings'-begun by Lender to enforce this Mortgage discontinued at any tiroe
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