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l_cnd~r's ~vritten agrccment or apph.abl~ law. iiorrowrr shall pay th~ amuont ot all m~~rtSabr in+utancr p~emiums in Ihe
m•rnnr~ provid~J under pa~a~~aph 2 htrcof.
Any amounts disburud by I.cnder punuam Io this pa~ag~aph 7, with intrrcct ther~on, thall brcome adJitinnal
indehtednasc c?f Rnrrowr~ cecurcd by 1hi~ 1?for~gagr. l!~dre+ B~rrawer ;,nd 1 rnder :?gr~r to ~the~ Ierms of p:~yment. «~cfi
amountc shall he payable uM?o notic~ f~om I.endr~ tu Rorn~wrr rtyuccling p:~yment thcr~Y~f, anJ ~hatl tx~~ intr~ect from the
date of cfisburcement at the rata payable from timr tc. time on outstanding principal under the Note unlrtiti payment af
i~terect at such rat~ would !+e contrary tu applicabte law, in which event a~ch amounts shall t?ear interett at thr highest rate
permissihlr une~er ;~pplicable law. No~hing coniained in thic paragraph 7 shall requirc I.ender to incur any exptnte ar take
any aclion he~eunde~.
8. inspeetion. [.ender may make or cause to t+e made reaconahle eni~ies u~wn and inc~xction~ af the Propeny, provictrct
that [.ender shall give Borrower notice p~ior to any sueh inc~ection sprcifying reasonable cause therrfor rclatrcl l0 1_tnder's
inte~rst in the Properly. .
9. Condemnation. The prcxeedc of any award ar claim for clamaees, direct or con~equrntial, in connection with any
condemnation o~ othe~ taking ~f Ihe Property, or pan thereof, or for conveyance in lieu of candemoation. :,rr hereby accigned
anJ ~hall t?~ paid to Ccnder.
ln the event of a total taking ot the Pro~+erry, the pre~ceeds shall br apptied to Ihe cums secared by Ihis ~ic~rtgaRe-
with the crcess, it any, paid to Bormwer. In Ihe cvent of a partia) ta{.ing of the Praperty, unless Aorro~ver and I_cnder
otherwice agree in writing. therc shall be applicti! to the sums secured by thic Mortgage such p~oportion a( th~ proceeds
as is equal to that proportian w•hich thr amaunt of the si~mt secu~cd by this Atartgage immediately prior to the date of
taking bean to the tair market value oF Ihe Proprny immediately prinr to the date of t~king. with the balance of the proceeds
paid t~~ Borrower.
lf the Property is abandoned by Borrower, or if. after notice by i.ender to $o~r~wer that the condemnor affen to make
an award o~ settle a etaim tor damages, Bo~rawer f~ik to respe~nd to I.ender within 30 da~~s after the date such notice is
mailed. I.endrr is authorized ta collect and apply Ihe prncceds. at t.eode~
s option, either to'restoration ar repair of the
Proprrry or t.~ the sums secured by Ihis Mart~sga
Unlcss l.ender and Borrowe~ otherwise agree in wrilinc. any such application of proceeds ta principal shall rtot extertd
or postpone the due date of the monthly instaltments referrrd to in paragraphs 1 and 2 herrnf or change the amount of
such installments.
l0. Borrower Nof Rdeased. Extension of the time for payment or modification of amortization of the sums xcurcd
by this Mortgage graoted by Lender to any successor in interest of Aorrower shali nat operate .to release, in any manner,
the tiability of tht originat Borrow~er and 8c~rr~wer's successors in interest. LenJer shall not be rcquired to commence
proceedings aga;nst such successor or refuse to extend time for payment or otherwice modify amortization of the sums
secureci by this Mortgagt by rcawn of any demand made by the orieinal Borrower and Borrower
s successon in interest.
11. Forbearance by I.ender Not a Wairer. Any forhearance by t_ender in exercising any right or remedy hercur~der. or
otherwise af~orded by applicable law, shall ~01 t+e a waive~ of or preclud! the exercise of any such right or remedy.
The procurement of insurance or the payment of taxcs or other liens or charges by I_ender shall not be a waiver of t.ende~s
right to accelr~ate the maturity of the indobtedness cccured hy this Mongage.
12. Remrdles Cumulatire. All rcmalits providrd in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgagr or affordrd hy law or eqi~ity, and may !x exercised concurrently, independently or sticcessively. -
l3. Successorc and Assigns Bound; ]oint and Se~eral i.iability; C~ptions. The co~enants and agreements herein
contained chall bind, aad the rights hercunder shall inure to. the n.-spective successars and ascig~s of I_ender and Borrower.
subject to tha pro~isions of pa~agraph 17 hereof. All co~rnants and agreements of Borrow•er shall he joint and several.
The captions artd headingc oi the para¢raphc of this Mortgage are for convenience only and are not to be used to
interpret oc define the provisions hereof. •
14. 1~otice. EYCept for any notice required under applicable la.+• to be given in another manner. (a) any noiice to
Borrower provided fur in this :1lortgage shall tK given by mailing curh notice by certified mai! addressed to Borrower at
the Property Address or at sach other address as Borrower may des;gnate by notice to i.ender as provided herein, and
(b) any notice to Lender shall be given hy certified mail, return receipt requested. to l.ender
s address stated herein or to
such other address as Lender may ~designate by notice to Bc~rmwer as provided hercin. Any notice provided for in this
Mortgage shall be deemed to have been given to Botrower or l.ender w•hen given in the m3nner designated herein.
15. Unifurm Mort~Re; GovernieR iaw; Sererobility. This form of mortgage combincs uniform covenants for national
use and non-uniform covenants with limited variations hy juriscliction to constitute a unifprm security instrument covering
real properl}•. This Mortgage shall be governrd by the law of the juris~liction in which the Property is iocated. In the
event that any provision or clauce of this Mortgage or the Note conflicts with ap~?licable law, such conflict shall not af~ect
other provisions of thes 1?lortgage or the Notr v?hich can be given effect without the conflicting provicion, and to this
end the provisions of the t~tortga¢e and the Note are dcclared to t+e severable.
16. Borrower's Copy. Borro~.•er shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or a(ter recordatio~ hereof.
17. Transfer of the Property: Assumption. If all or any part of the Property or an interest therein is sotd or trancferred
by Bo~rower vvithout Leoder s prior written co~seot. excluding (al the creation of a lien or encumbrance suborJinate to
this Mortgage. (b) the crea'tion of a purchase money security interest for household appliances, (c) a transfer. by devise,
descent or by operation of law~ upon the death of a joint tenant or (d? the g~ant of any leasehold intercst of three }ears or less
not containing an o~tion to purchase. l.ender may. at I_ender's option, declare all the sums secured by ihis ~lortgage to be
immeciiately due and payable. l.ender shall have wai~ed such option to accelerate if, prior to the sale or transfer. I.ender
and the person to whom the Pro~rty is to be wld or transferred reach ag~eement in writing that the credit of such person
is satisfactory to Lender and that the intere~t payable on the sums srcured by this Mortgage shal! be at such rate as Lender ~
shall request. If Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower's successor in
interest hac executeJ a written assumption agreement accepted in w~iting by 1_ender. I.enJer shall release Borrower from all
obligations under this Mortgage and the Note.
(f t.ender exercises such option io accelerate, f enJer shall mail Borrower notice of acceleration in accordanec with -
paragraph i4 hereof. Seech notice ~hall provide a prricxl ~f not Iess than 30 days (rom the date the notice is mailed within
v?•hich Borrower may pay the soms decl•rred due. If E3orrower fails to pay such sums prior to the expiration of such period,
I_ender ma~, without furthrr natice or demand an liormwer, invc?ke any remedies permittect by paragraph 18 hereof.
I~'o~-Ur.i~oR~t Cove~+?~rs. Borrower and I_enJer farther covenant and agree as follows:
l S. Acceleration; Remedies. Fxcept as providcd in pa~graph 17 hereof. upon Borrowe~'s breach of any covenanf or
a~reement af Borrower in this ~lortg~;e. includinR the coren~ats fo pay when due any sums cecured by this ~fortgage. T.ender
Prior to ~cceleralion shal( mail notice fo Borrower as prorided in p~ragraph 14 hereof sPecefying: (1) the breach; (2) the action
required to cure such breach; (3) s date, not Itss Ih~n 30 days froiri'fhe date the notice is maited to Borruwer. by which such
breach must be cured; and (4) that failure to cnre such bna'ch on or before the d~te specified in the nolice may result in
acceleration of the sums secured by this ~fortRaRe. foreclo~ure by judici~l proceeding and sale of the Property. The notice
sh~ll further inform Bormwer of thr ~iRht to reinstate after accelerafion and the rigbt to ~csert in the foreclosure proceedinR
the non-exisfence of a dei~ult or ~ny other defe»se of Bon~wer to acceleration and foreclosun. if the breach is not cured on
or before Ihe date speciBed in Ihe notice. Lender ~I I.ender's option may declare al) of the sums secured bv tbis ~tortgage to be
immediattly due and payable without further demand And mav forerlnse this VlortgaRe 6y judicial procetdinR. Lender shall
be entitled !o collect in such proceeding all expenses ot fu~eclosure. including. but not limited to, rea.wn~ble attorney's fees,
and costs of documentary eridence. abstracts ~nd litle reports.
19. Borrower's Right lo Reinstate. Notwith~t~nding Lender's acceleratiun of the sumc secured by this Ttortgage.
Borrower shall have the right to have any prucredings hegun by LenJer to enforce this titortgage discontinued at any time
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