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Lr~dcr'c writtcn ag~rem~nt or applirable laN• BOrrowrr shall pay thr amuunt of aii rrii~rtgage incuranc~ premiums in the ~
m:+nncr pmvidrd under paragraph 2 hcreof.
An~• amounts dichurscd by I.rn~lcr punuant tu this p~ragraph 7, with interecl thereo~, shall becomc additional
inJrbtedneie ~~f Rurrower securcd h}' ~hic Mort~;ag~. l:i~le~. BorroHCr anJ LenJrr agree ro ather terms of payment, such
amountc chall he pa~~ahle u~x~n nu~iie from 1 ende~ a~ R~~rr~~Hrr re~~~~ec~ing payment Ihereof, and shall hear interat from the
datc of dicbursemrn~ at thc ra~e payahlc fr~~m timc t~ time on oulstanding principal under the Note unless psyment of
interest at such ratc w•ould !k: contrar}• t~, applicable law~, m~hich e~•ent ~uch amounts shall hear interest at the highest rate
permissible under applirable law. Nc~thing contained in ~hic paragraph ~ chall require I.ender t~ incur any expense or take
.iny action hcrrunder.
8. Inspection. Lender ma~• makr ur rauce to he made rea~onaMe emrie~ u~+cm and inspectionc ot the Propeny, provided
tha~ LrnJer ~hall give Ri~rrow•e~ notire pri~,r tc~ an~• ~uch incpccUOn ~pecify~ng rcasonable cause theretor related to Lender's
imerest in thc Propcrt}•.
9. Condemnation. The pnkred~ of an}• a~~.~rd ar ilaim for damaeec. Jirect or ronuquential. in connectian with any
.•onJemnati~~n ur other taking af the Propert}•, or parl th~rrof. or for c~~nve}~anre in lieu of condemnation, are hereby assigned
:~nd .hall t+r paid to I.cndcr.
ln the e~•ent oi a t~tal taking of ~he Propenp, the pro:eeds chall he applieJ ta ihe cums secured by this Mortgage.
with ~hc e~cca. if any, paid tn Rorr~~wer. In ~he c~~ent ~•f a p~rtial taking of the Property, uoless Borrow•er and I.ender
wherwiu agree in w~riting. ~herc ~hall be applied t~? thc cum~ kcurcJ hy thic 111ortgage such proportion of the proceeds
as i~ eyual Ic• that pr~~~~rtii~n «hich thr :~m~aim of ihe cum. ~eitircd by IhiS ':1lortgage immediarely prior to Ihe date of
taking Fxarc to Ihe fair markrt ~°alur of thc Pro~xrt~ immeJiatrh• prior to the ~late of Iaking, w~ith the balance of the procceds
paid tn Borrow•cr.
if Ihe Pr~nrr~.• iF~~nrinnn~l l~v Rn{rn~c`.r ~r :F, of~~.~ nnr:~;. I,v 1 ~n~l~. ~n R;...;.:.•~r that the condemnor offers to make
:111 :IN'Jf(1 Of Sl'~~~1' :1 C~J1111 ~Af U.a u.iti~. ~(%iit~Nii ~3iii Q~l P~i~~Oitu, ti~ ;.ii~ucP M1~~'iii~ Zii ua~5 aitii 1'iG u:1i2 ~ii~,i t~~+iiCC iS
ma~lcd. l.~ndcr iti authori~cd to rnllcrt and appl~~ thc procecdc. at l.endcr't option, either to restoration ar ropair of the
Propeni ~.r tc• thc ~~nn. .~c«red h~~ thi~ ~1orlRaee. -
l'nlec~ I.en~ler ar?,~ Rorr~.~cer atherH iu agree in ritin~. am~ aurh application of procetdc to principal shal) not extend
Y pa~tM~nc thc Jur ~};.ie of the monthl~ installmrntc rcfcrrcd tn in paragraphc 1 and 2 hereof or change the amount of
:;ich m~t:,llment~.
]0. Borrowrr Not R~teased. E~tension of ~he time for payment or mc~dification af amortization of the sums secured
ch~~ M;~rig;.gc ~nnted by 1 ender t~~ am• tuccr~wr in intere~t of Borrow•er chall not operate to rcleau, in any manner,
thr tiahilit}• ~~f ~he oriRi~al Burrower and Barmw•cr'c succcs«~rc in interest. I.ender shall no~ be required to eommence
pn.;ee.iings ag:?inst e~_h wcre~s:.r nr refutie te. e~tenJ time f~f pa~~ment or otherv?~ice modify amortization of the sums
.e~ ured h~ thic '.4lortgage h~ reation ot am~ demand made bc the oriqinal Borrower and Borrower s successorc in interest;
I1. F'orbearance by I.ender `'ot a Waiver. :~m f~nc~arancc ht~ l ender in etercising am• right or remedy hercunder, or
~ahrrwi.e ~ff~~rdeJ h~• applicahlc law. ~hall n~•t tx a waiver of c.r preclude the erercise of any such right or remedy.
Thr procurrmcnt of insuran~r ar thc payment of t:~~c~ or other licns or chargcc by I.ender ~hall not he a w~aiver of T_ende~'s
right t~~ JC~cII`f7lC thc maturit}• of thc indcbtcdnr~s ,c~urrd h~~ thic Mortgage.
12. Remedies Cumulati~e. All reme~lies pr~~~idcd in thic Morigage are distinct and cumulative to any other right or
remeJ~• imJer Ihic M~rtRag~ or aff~~idrd h}~ law• or eyuity. :~nd ma~• he e~erciseJ c~ncurrenlly. independendy or successively.
13. Succeswn and AssiRnc Bound: Joint and Se.eral i.iabilih•: Captions. The co~•enants and agreements herein
~ontaineJ shall bind, and the ri¢ht~ hercunder tihall inure to. the re~pective successorc and assigns oF I.ender and Borrower.
,uhjecl tu thc provi~ion~ of par~graph 17 hcreof. All rovrnants and agrecments of Borrow•er~hall be joint and several.
The rapti..n~ anJ heaJi~g. ~f ~he paraeraphc c,f thi~ Mortg:~gr arc for convenience only and are not to be used to
intcrprrt or definc thc pro~~ici~+nc hercof.
14. tiolice. Exrep~ foa anp notice requircd unJer aprlicahle law to be given in another manner. (a) any notice to
Burr.~~cer provided for in thic Mongaee shall he grvrn h~ mailin~ wch notice by certified mail addressed to Borrower at
thr Pmpert}~ Addre~, ~~r at wch othcr addrres ac B~,rr~.ucr ma~~ de;ignatc be notice to 1_ender as*rovided herein, and
Ih) ~m noh~r to Lender shall he gi~en M• cenificd mail. return receipl requested. t~ Lender's address stated herein or to
.uch ~~ther addr~s~ ~s I.rnder mac d«ienate b~ nc.tire t« Born~wer as pro~•ideJ herein. Any notice provideJ for in lhis
~t~~rtgage sh:~ll F,c dccmcd t~~ ha~e becn Rn~n t~~ B~rro..cr ~~r I.ender Hhcn gi~~en in the manner designated herein.
I5. l'niform ~tortRa~e: Corernin~ i.aw; Se~erabilih. Thi~ form of mortgage comhines uniform rnvenants for natianal
j uu anJ n~~munifi~rm r~~~~cnam~ with limitr.i cariation. h~ jurisdictiun to constitutc a uniform sccurity instrument covering
real pmpert~ Thi~ ~lorteage shatl Fx uuverned h~~ thc law ~.f the juricdirtinn in which the Property ic located. In the
event lhat an}~ pruvisi~.n c~r rlau~e of Ihic ~tongake ~~r thc \.~te r~~nflicts Hith applicable lau•, such confliet shall not affeet
~~ther pri~ci~i~n~ of thi~ 111ortgage ~~r the N~tc ~~hiih ~an be gi~en e(Tect without the conflicting provi~ion, and to this
, cnd the pru~ i.i.?nc of the ,lortgagc and thc `i,tr ~rr ~i~rlared t~~ he teve~able.
16. Borrower's Cop~. Borrowcr ~hall bc furni.heJ a cunf~~rmed ropy of thc Notc and of this Mortgage at the time
uf c~ecution or after rerordation herec~f.
17. Tronsfer of the Property: Acsumption. if all ~~r an~ part of the Propcrtp or an interest therein is sold or transferred
~ hy~ Borruwer without I_ender's pri~~r w~ritt~n content. e~cluding,(a? the creation of a lien or encumbrance subordinate to
: th~c Mortgage. (h) the creation of a purchau mone~• tie;curit~ interest f~r household appliances. (c) a transfer by devise,
~ de~cent or h}• operation of law up~.n the death ~f a joint tenam c?r Iei~ the grant of an~• leasehold interest of three years or less
° not containing an option t~ purchase. 1_ender ma}•. at I.ender'c c,ption, declare all the sums secured by this Mortgage to be
i immeJiatelt• due and pa}•able. I.cnder ~hall ha~e wai~~ed such option to accelerate if. prior to the sale or transfer, Lender
and the persan to whom thc Proper~g• iti to be sol.i or trans(erred reach agrcer'ic~~i ~n wrrt~~i~ that the credit of such person
ic satisfacton~ to 1.enJcr and that ~hc intcrc,l pa~•able ~~n the sums sccured by thic Mortgage shall be at such rate as Lender
~ sh~ll requcst. If I.enJer has waived the optic~n t~ accelerate pro~•ided in this paragraph 17, and if Borrower's successor in
; interest ha~ executed a written assump~ion agreement accepted in w~iting by I.ender. Lender shall release Borrower from al)
obligations under this Mortgage and the Note.
If I_ender ciercice~ such opUon to accelerate. I c~Jer ,hall mail Borrower notice ~f acceleration in accordanee with
paragraph 14 hereof. Such notice shal! p~ovide a peric.d ~~f nnt Iess than 30 day's from Ihe date the notice is mailed within
which Borrc+wer ma~• pa}• the ~ume derlared due. I( Borrower faik ~o pa~• such sums prior to the expiration of such period. ;
+ Lender ma}•, w~ithout further notice c.r demand un Bc~rrower, im•oke am~ remedies permitted by paragraph 18 hereof. i
Now-1.'NIFORM COYENANTS Borrower and Lender funher covenant and agree as follows:
18. Acceleration: Remedies. Except as provided in par~raph 17 hereof. upon Borrower's bresch of aay coveaaal or
agreement of Borrower in this ~tortga~e. includin~ the covenAnts to pay vrhen due any snms secured by t6is Mort6ase, Leader
~ prior to acceleration shall mail notice to Borrower as p~ovided in paragraph 14 Aereof sQecifyiog: (1) the breac6; (2) t6e actioa
required to cure such breach; (3) a date. not less than 30 days trom the date the notice is mailed to Borrower, by whic~ socb
breach must be cured: and (4) that failure to cure such breach on or before tbe dste specified la the Aotke may ~rsah id
` accde~ation of the sums secured by this Mortgaqe. forecbsun by judicial proceedi~ and sak of tbe Pmpe~. 'ILe uotke
shall further inform Bormwer of the ri~ht to rcinstate after acceletatan sad the right fo aasert ia t6e foreclosnrt pe~octedln6
the non-exiStence of a default or any other defense of BoROwer to accekratbn and foreclosure. If the bre~ch is oot cared on
; or before Ihe date specified in the notice. Lender at Le~der's option may dtclare all of tht soms secertd by this Mort~e to 6e
immediately due and pavable withont further demand and m~y forcclose th~s Mortgage by ~udkial pwceediut. Leader shall
~ be cntitled to collect ia such proceeding a!1 expenses ot foreclosurc, including. but not Ilmited to, rcssonable sttorne~'s ftes,
' and costs of documentuy evidence, abstracis and ~itk reports.
~ 19. Borrow~er's RiRht to Reinstate. Notwithstanding I.ender's acceleration of the sums securcd by this Mortgage.
' Borrower shall have the right to have an} procecdings t~egun by I.cnder to enforce this Mortgage discontinued at any prtx
n R 258 270
a00K PACE
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