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IxnJer's w•riuen agrr~ment ur apphcable I:~w. Hot~owr~ ~hbU pay the ani~?unt of all martdage inwrance prcmiums in thr
man~er pn?vidrd undrr parapraph 2 herrof.
Any aniai~nt. dnhursrd h~ I.rn~l~r p~~r~nanl ~u this paiab~:+ph 7, N~ith u~terr~t thrrtun. shall l+ccornc hd~liii~~n:~l
u~~khirdncs~ Bor~uv?~er srcu~rd hy thic 111o~lgagr. l'nlc.s HMroNrr an~l I.enJer ag~rr to ~~thcr tetms of paymrnt, tu~h
amountc ch•rll hr pa~•ahle u~+..n n~uicc fr.?m Lendcr tu Kurrawr~ reyueti~in~ pa)~ment thcrcut. and ch:~ll txar intcreq fmm the
Jatc o( dicbursrment at ~hc ra~~ payablr from timc tu time on oulstanding p~incipal undcr ~hc Notc unlets payment of
interest at such rate N~oul~t he cuntrary a~ applicable la~v, in vehich event cuch amounts shall Mar interest at the highe~t rate
permissihlc under applicablr laW~. i~rnhing containeci in ~hic paragraph 7 shall require i.cndcr lo incur any expe~~u a~ takc
any ac~ion hereu~de~.
Inspection. Lendcr m:?~• ma~.e iu raucc to tk madc r~aconablc rnlries i~pan and inqxctions of the Pr.~pcrly, providcd
that Lender shaU giv~ Borrower notice pri~~r to any such intpection cpecifying reasonable cause Ihercfo~ rtlated lo Lender's
interest in the Propeny.
9. Condemnafeon. The pn•cerdc ~~f any award or claim for damacrs. direct or cc~ntiequential, in connection w~ith any
condemnation or other taking ~f the Property, or part thcrraf, or for conv~yance in lieu of rnndcmnation, arc hcrehy as~igaed
anJ shall ~ paid to I_ende~.
In ~he cvent of a total taking of the Property. thc pr~iceedt chall tx: ap~~lird to Ihc sumt secured by this Mortgagc.
wilh thc excr~s. if an~. paid to BorrrH~r. In ~he e~•cn~ ~f a pa~tial laking of thc Property, unleu Borr~wer :ind l.endcr
o~herv~i.c agrce in w•ri~ing. thrre sh:dl be applied to thc .uma secured by thic Mortgagc tuch pro~+c~riion of thc rrocceds
at is equal to that pro~+onion Hhich thc amount o( Ihe sumc ctcured by this Mortgage immedia~ely prior to the date of
laking hears to the fair markct valuc of thc Propctty immediattly prior to thc Jate of taking, with thc balancc of thc procecdx
paid to Borrou•er.
Tf the Propert~ ic ahand~ne.i hr R~~r~ow•er, or if. :~fier notice hy I.ender to Barrower that the condemnor otTers to make
an award or settk a claim for damacec. Borrower failc ~o respond to l.ender within 30 days after the date such notice is
mailcd. Lender is authorized to collect and apply thc prcueeds, at l.ender's option, either to restoration or repair of the
Property or to the wms secured b~• this I~iortgage.
UnlesS I.ender and Borrov?erothen+?ice agree in Kriting. any such applitation of proceeds to principal shall not extend
or postpone the duc date of the monthly installmcnts rcferred to in paragraphs 1 and 2 hereof or change thc amount of
such inslallmentc. -
10. BorroNer l~of Released. Extension of the ~ime for payment ar mcxiification of amortization of the sums ucured
by this Mortgage cranted by 1_ender to any wcce~sor in intercst of Borrower shall not o~xrate to release, in any manner,
thp liability of the orieinal Bortower and Rorrov?•er's succescars in interest_ Lender ~hall not he required to commence
prc?ceedings bgainst xoch successor or rctuse to extend time for payment or other.~~i~e modify amortization of the sums
secured by t6is ~?t~ngage by reasrn uf aoy dem~nd madr by ~he or:einal Rorrower and Borrovver's succestors i~ interest.
I1. Forbearance by I.eader :~ot a Wairer. An}• forhearance by Lender in e~ercising an~ right ur remedy hercunder, or
othenvise afforded by applicable law~, shall not tx a waiver of or prcclud! the exercise of any auch right or remedy.
The procurement of insurance or the payment of taxes ur other liens or chaTgec by Lender shall not be a waiver of Lendcr s
right Io accelerate the maturity of the indebtedness cecured 6y this Mortgage.
12. Remedies Cumulatire. All rcmedies pro.•idcd in this 1?lortgage arc distinct and cum~~lative to any other right or
remedy under this Mortgage or afiorded hy law or equit}~, and may be exerciud concurrcntly, independen0y or succestively~
!3. Successors and Assigns Bound; loint aad Se~eral 1.iability; Capl?ons. The covcnants and agreementa herein
contained shaD bind, and the ri¢hts hereunder shall im~re to, the respective successors and assigns of i_ender and ROrrower,
subjtct to the pro~isiom of paragraph 17 hereof. All c~venanls and :+greements of Bormwer shall be joint and several.
The captions and headings of the paragraphc of thic 111or1gage are for convenience only and are not to t~ used to
interpret ar define thc provisions hereof.
14. Abtice. Except for an} notice requircd ~inder applicable law to be giv,en in another manner, (a) any notice to
Borrow•er provided for in this ~torteaee shall be given h}~ mailing such notice hy certifie.d mail addrecsed to Borrow•er at
the Property ~lddreu or at cuch ~thcr address as BorroW~cr may decignatc by notice to T.cndcr as providcd hercin. and
(b) any natice to Lender shall Fx gi~•cn by certified mail. return receipt requected. to i.ender
s address stated hercin or to
cuch other address as Lender ma~ designale by notice to Borrow•er as pro~•ided herein. Any notice provided for in this
I?iortgage shal! Ise Jeemed to ha.•c t+een gi~•en to Bormwcr or 1_ender w•hen givcn in the manner designated hertin_
l5. Uniform !11orl~age; G~,~ernin~ i.aw; Severability. This form of mortgage combines uniform covenants for nalional
! use and non-uniform co~~enants with IimiteJ variations h}• juricJiction to rnnstitute a unifom~ sec~~rity inslrument covering
~ real property. This Mortgage shatl he guverned by the law of 1he jurisdiction in which the Property is located. Tn ihe .
; event that any provision or dau.e of this 1ltortbage or ~he Note conflicts w~ith applicable law, such conflict shall not affect
E other pro~•i,ions of this I?iortga~e or the Note w•hich can t?e given efiect with~ut the rnnllicting provicion, anJ to this
~ end the procisions af the Mortgagc and the '~otc are drdared to be severablc.
~ 16. BorroKer's Cop~•. Borrowcr shall b~: furni.hed a conf~rn~ed copy of thc Notc and of this Mortgagc at thc timc
~ of execution or aiter recordation hercof.
17. Transfer of the Propertc: Assump~ion. lf all or any part of the Property ar an interest therein is sold or trancferrcd
by Borrov~•er w•ithout i.ender's prior w•titten consent, excluding (al the creation of a lien or encumbrance sutwrdinate to
this Mortgage, (h) the cteation ~f a purchase money ~ecuri~y inlerest t~r household appliances. (c) a transfer by devise,
de~cent or by operation of law u~n thc death of a j~int lenam or (d1 the grant of any IeauhoId interest o( ihree ~•ears or lest
no1 eontaininc an option to purchase. [_ender ma}, at 1_ender'c option, declare all ~he sums secured by this I?iortgage to be
immediately due and payable. Lender ~hall ha~~e wai~~ed such option tu accelerate if, prior to the sale or transfer, I_ender
and the person to v?~hnm the Propert~• is tc? be so1J or transferred reach agrcement in~writing that the credit of such E+crson
ic satisfaetory to [_enJer and that she intere~t pa}•able on the sumc secured by this Mortgage shall be at such rate as I.ender
shall requeat_ lf Lender has a-aiced the optiun to accelera~e Provided in this paragraph 17, and if Borrower's successor in
interest has executed a written assump~ion agreement acce~ted in vvriting by Lender, LenJer shall releace Borrov~er from all
oblisations under thic Aiortgage and thc'~ote.
If I_ender e~ercises cuch option to accelerate. I.ender ~hall mail Borrower notice of acceleration in accordance w•ith
paragraph id hereof. Such notice shall provide e period of not less ihan 30 da)•s fromr the date the notice is mailed ~+•itfiin
~ Which Borro..cr map pa~• thc sums dcclarcJ dlir. If Bcrrourr fails to pay such sums prior to ~hc cxpirati~n of such pcrial.
~ Lender may, w•ith~ut further r?c~tice ~r demanJ on Fi~rr~~wcr. invokc an)~ ~cmedies permitted by paragraph 1R hereot_
~ No~-U~iFOx~~ Co~~r.~.~~TS. Borrower anJ Lender funher covenant and agrec as follows:
18. Acceleration; Remedies. Fxcept as pro~~ided in paragraph 17 hereof. upon Sormwe~'s breac6 of an~• co~•enanl or
a~rrement of BorroMer in Ihis ~tori~a~e, includin~ the co~enants to pay vvhen due any sums cecured by lhis lltorf~~~e. I.ender
prior lo accrlera~ion shall mail notice lo Borrow~er u pm~•ided in par~raph 14 hereof specifying: (1) Iht brcach; (2) the action ~
reyuired to cure ~uch breach; (3) a J~fe. not les~ than 30 days from the dale Ihe notice is m~iled to Borrowtr, bp ~+hich such
breach must be cured: and (4? that failure to cure such breach on or before 1he dalt speci6ed in the notice may result in
~ccekration uf the sums secured b~ ~his ~tortRa~e. foreclusure b}• judicial proceeding and sale of the Property. The notice
shall further intorm Borror.er of the ri~ht to rein~tate after accelention and Ihe ~i~ht lo acsert in Ihe fortclt~sure pr~ceedio~
~he n~?n-existence of a defaul! or am• other defence of Borruwer to acceleration ~nd forecbsure. If Ihe breach is not cured on
or Fxfore the date specified in Ihe aolice. I.ende~ at I.ender's option mb}~ declare all of Ihe sums secured by this Atortga~e to bt
immediatel~• due and pa}able without further demand and m~~~ forecloce thic'~1orfRa~e by judicial procetdin~. I.ender shall
t?e enlitled to collect in such procerdin~ ~II expenses of fureclocure. includink. but not limited to, reasonable ritorne}'s fees.
snd eosts of documenlan e~idencr. ~Ixtracts and title ceporls.
19. Borro.+er s Ri~ht to Reinst~le. ~Iotw~ithstandinE l.ender s~cceleration of the sums .ecured by th~s ytortga~e,
Aorrower shall havc the righ: ~o ha~~ :~m~ proceeding~ Fxc~m h}• Lcndcr to enforcc Ihis Mortgage diuontinu~d at any time
aoo~z6~, PACE 378