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I.cndrr's writtcn agrccment ar applirabic law. BorroHer shaU pay thc am~~unt of all martgage insurance prcmiums in the
mann~r pravidrd under pa~agraph 2 hereof.
Any am~unts dicburscd by I_cnder purtuanl tu ~his paragraph 7, with intcrest thereon, chall become additional
inJcMcdncsc uf Borrow~cr ucutrd hy thi~ ~1or~gagc. t!:~Ic.c Bo~ruH~er anJ l_enJer agree to othcr tenns of payment, such
amounts shall be payahle u~n nolice from I rndcr tu Hv~ruw~r reyuecting paymcnt thercof, and shall hcar iRterest from the
d:~tc of dichursemcnt ot thc ratc payahtc frc~m timc t~~ timc on outstanding principal urtder the Note unlcss payment of ,
interest at such rate woa1J !,e c~~ntrarv tn applicahie law in which eYent such amounts shall hear interest at the highest rate
permissihle under applicable law. Nothing cuntained in thic paragraph~7 shull rcquire I_cnder ta incur any expense or take
:iny action hereunder.
8. Inspection. Lender may malc or cau~c ~o hc made rca~onable cmries uFx?n :+nd inspections of !he Property. provided
that l.rnder shali give Borrower notire pri~r to any wch insjx-~tiun sFxrifying reasc~nable cause therefor rclated to i_ender's
intcrc~t in thc Propcrty. !
9. Condemnation. The pr~~redc ~.f a~~~• a~.ard c~r claim fo~ damages. direc~ or rnncequentiat, in connection with any ~
c~ndemnation or othc~ taking of the Prupcrt~•. ~+r part thcrc~~f, c+r fnr re~nvcyance in lieu of condcmnation, are hercby as~iigned :
::nd sh:l11 tk paid to l.cndcr. '
in ~hc eveM af a t~~tal takine of ttx: Prc~Fxr~~•. Ihc pr~~crcds ~h;~ll hc ap~hed co ~he sums secured b~~ this Mortgage.
with thc eYre~s, if any, paid to Borr.•a•cr. In thc rvcm ~•f a partial iaking af thc Amperry, unlcss I3orrower and i.ender
o~herwi~ agree in writing. there shall he applied te the wmc secured hy thie Morlgage such pmportian of the proceeds
as ic cqual to that pmportion ~~hich thc :~m~~un1 ~f thc ~umc ti~,urcd by thi~ 111ortgage immcdiately prior to the date of
taking hrars to the fair marke~ valuc oi ~hc Pro~xrt~ immrdiateh~ rri~r to the ~atc of taking, with the balance of the proceeds
paid to Borrowcr.
if the Araperty is ah~ndoneJ bc 8orrc~uer, ~~r iL ;~fter notice hv I.ender to Borrower that the condemnor offers to make
~n aw:~rd c.r ~etHe a claim for damage~, R~~r~~.wer fa+l. t~• rc.M•nd to t ender within i0 days after the dare such notice is
mailcd. l.rnder ic authorized to collect and ap~+h• thc prckerds. at 1_ender ~ option, either to restoration or rtpair of the
Pro~xr~~~ or to thc sums ~ccurccl hy this Mortgagc.
Unlcs~ l.cnder and 8orro~+~er othcru•i.r scrce in ritinz. am• surh arplir:~ti~n ~f prcxcedc to principal shall not extend
or pc~~t~ne the due date of the monthh• in.l:?Ilmrnt~ rcferred to in paragr:iphs 1 and 2 hercof or change the amc+unt of
such installments. '
10. Borrovrer Not Releaced. [-:xtcnsion ~~f th~ timc f~.r payment ar mc?dification of amortization of the sums secuted
hy this M~~rtgage eranted br' l.ender t~ ai~~• ~i?rce~wr ;n interc,~ i,f Borrower thall no~ opera~e to rclease, in any manner. ~
the li;~hitity of the oriein~l Borroaer anJ Bi~rr~wc~'. su.crs.~rc in interest. l.ender chali nat he rcqairecl to commence
pn.ceedings against sueh suecessor or refuce t~? e~~rnJ timc f~~r payment ar othena•ice modif~~ amortization of the sums
terured h~• thi~ Mortgage by rcacon of am• demand made h~ th~ e~rieina! Rormwer ~nd Aormw~is succeseors in interest. -
11. Forbearance b3~ I.ender No! a~Vaiver. .1nr ft~rtkaranrr b~• Lrnder in erercisinR am~ right or remedy hereunder, or
otherwise af~orded by applicahle law. sh~l! n~~t tx a waiver c?f or preclude the e~ercise of an~~ such right or remed}•.
Thc prcxurement of insurancc or the paymcnt ~?f ta~c~ ~.r other liens ~r charget by [.ender shall not he a w-aiver of [.ender's
right t~ accetcratc the maturiry of Ihe indehtrdnecs ccrured h~' thie ~1lorigage.
l2. Remedies Cnmulative. All rcmedicc pm~idcd in thie ~fortgagc :,rc distinct and cumulative to an~ othcr right or
remeJ~• under this Mortgage or affordcd M~ law• or cyuit~•. and ma~• he exercised concurrcnth•, independend~~ or suceecsivcly.
13. Successors and Assi~ns Bound: Jaint and Se~eral i.iabil~ty; Captions. The covenants and agrcements herein
rontained ,halt hind, and the rignts hercunder tih:,ll innre to. the respective si~ccesson and assigns of t.ender and Borrower, '
subject to the provisionc of paragraph 17 here~f. :~II covcnants and agreements of Borrow~er shall he joint and several.
71~e captions and headings of !he paragraph~ of thi~ 111ortgaKc are for convenience only ~n~l arc n~,t t~ be ~u~ed to
interpret or define ihe pm~~icions hereof.
14. Natice. Except for any notice ~cyuired +m~ler applirable Iaw• to be given in another manner. (a? any nMice to
Borrow•er provided for in this 1liortgage shall tx givrn M• mailinR such notice by rertified mail addresu:d to Bormw~er at
the Property Address or at ~uch other addrr~< as B~,rmwer ma~• decignate b~~ notice to 1_ender as provided herein, and
Ih) an~• nMice to I_ender shall he gi~~cn b~~ certificJ mail, rrturn receipt requezted, t~ Lenderc address stated herein or to
ti~ct~ e.ther address as I_ender nta~~ dcseenate b~~ nnticr to BorroWCr as pm~•ideJ herein. Any notice prrnided for in this
'~lortgage shall be deemed to havc tx.-en ei.~en to 13e?rmwer or Lender when given in thc manner designated herein.
15. Uniform MortRaRe; GoverninR I.aw•; Se~erabilitr. Thi~ form of mortgage combines uniform covenants for national
use and n~n-uniform covenants with limite.t variati~.nc hc jurisdiction to eonstit~rte a uniform security instrument covering
real pm~,erly. Tl~is Mortgage shal! he gnvrrned b~• thc law~ c,f the joricdiction in which the Property is located. In the' -
event that any provision or claute of this Mortg~ge ~~r the ~otc confliclc w•ith applicable lav?. such conflict shall not affect
other pr~+visionc of this Mongage or ~he Nc.tr whinc ~an be gi~•en efTect without the conflicting pmvision, and to this
end the provisions of the Mortgagc and thc Notc are dccl:~rcd t~ he ~everable.
16. Borrowe~s Copy, Borrow~er shall tn furni~hed a c~~nii~rroed copy of the Note and of this Mortgage at the time
oF e~ccution or aftcr rcrnrdation hercaf_ .
17. ~ Transfer of the PropeN~•; A~umplion. If all ~~r an}' r~rt ~,f thc Property or an interest thercin ic said or transferred
by Borrower withoot Lende~'s prior written concent. c•:cluding (al the crcation of a lien or encumhrance suhordinate to
thit Mnrtgage. (h) the creation of a purcha~; money securih• interest for household appliances. (c) a transfer b} devise.
descent i~r hy aperation of law upon the death <~f a j~,;nt tenant or (d) the grant of any Icaschold interest of thrcc yca~ or less
. ontaining an option to purchase, I.ender may. at I.ender'e option, declare alt the sums secured by this Mortgage to be
~mmeJi:~tety due and payahle. I.ender shall have w~aived such option to accelerate if. prior to the sale or transfer, I.ender
.~nd the per~n to whom the Property ic to be sold ~~r transferred n;ach agreement in writing that the credit of such perscin
+ti sati~factory to I.ender and that the interest ~ayable on the sums secured by this Mortgage shall be at such rate as Lender
~.h.~ll reyuest. lE Lender has waived the opti~n to accelerate pmvided in this paragraph 17, and if Borrower's successor in
-,~~rest has executed a wrilten assumption agreement accepted in writing by Lender. Lender shal! releace Borrower from all
,'~~•,~~ions undcr this Mortgage and the Note_
If I.ender exercises such optinn to accelerate. Lender shall mail Borrow•er notice of acceleration io accordance with
~ra~raph 14 hereof. Suc6 notice chall provide a peri.Kl ~~f not Iess than 30 days fmm the date the notice is mailed within
i: Borre~wer may pay the si2ms declared due. If Borrouer fails ro~ay such sums prior to the expiration of such period,
, i:r may, without further notice ~r dcmand on 13orrowcr. invoke an)' remedies permitted by paragraph I8 hereof.
Nox-U!vtFORtit Coverv~tvzs. Banower and l.endet funher covenant and agree as follows:
18. Accelernfion; Remedies. E:ceq as pmsided in paraAraph 17 hereof. upoa Borrowe~s breach of aay coveaant or
agreement of Borrower in this Mortga~e, includin~ the covenants to pay when dne aoy soms secured by thts Mortaast, Lender
prior to accekration shall mail notice to Borrower as pro~ided in paragrapb i4 hereof specifyiog: (1) tbe br~eacb; (2) tbe act8on
required to core suc6 6rrach; (3) a date, not less than 30 days from the dale t6e notice is mailed to Borrower, by which socb
breach must be cnred; snd (4) flwt f~ilurc to curc such breach an or before t6e date sptci6ed ia tht ootice a~ay resdt ia
acreler~tion of the sua~s secured by this Mortga~e, foreclosurc by judicial proceediag and sale of tbe Propetty. 'Ibe notice
shall further inform Borrower ot the right to reir~tate after s~cceleration and the ri~bt to assert ia the foreclosute pra~edlsg
the non-e:istence of a defautt or aoy other detense of Borrowet to arceleration and foseclosure. If t6e breach is not coced on
nr befon the date specified in t6e notice, l.ender at [.ende~'s optan msy declare aq of tt~e sums aecored by th~s Mori~a~e b be
immediately due and payabk wit6out furth¢r demand aod may forccl~se thts Morl~s~e by jodicial procetdia~. Lender shaq
be eatided to coUect io snc6 proceedir~ aU expenses of fonclowrc, iaclndin=~ bnt aot Umited to, natonable attorne~'s fees,
and cosfa of docnmeotarJr e~ideoce, abstracts :nd title rrports.
19. Borrower's R~Yt te Reimi~e. Notwithstanding Lender s acceleration of the sums socured by this Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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