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I.c~dcr's written agr~eemcnt or spplirable lew. Sonower shall pay the amount of all mortgage insurance premiums in the
ma~ner providcd under parag~aph 2 heroof.
Any amounts disbursed by I.cnder pursuant to lhis pa~agraph 7, with intcrest thercon, shall become additiona)
inJrbtedncss of Rorrowcr socured hy this INortgage. Unless Borrowcr a~d I.ender agrce to othcr ternts of payment, such .
amounts shall he payat?k upon notice from I.ender to Borrowrr reyucsting payment lhereof, and shal) bear intercst from the
date af disbursement at the ratc payahlc from timc to time on outatanding principal under ,the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amaunts shall hear interest at the highest rate
permiuible u~der applicable law. Nothing contained in this paragraph 7 shall require l.ender to incur any expense or take
any action hcreundcr.
8. l~ctioa, i_ender may make or cause to be made reaconable entriec upon and inspectians at the Property, provided
thal i.ender ~hall give Borrawer notire prior to any such inspection ~pecifying rcasonable cause therefor relaled to I.mde~'a
interest in the Property.
9. Cw~demastioa. 'Il~e proceeds af aoy award or claim for damages, dircet or canuquential, in connection with any
condemnation or other taki~g of the Property, or part therrnf, or fo~ cc~nveyance i~ lieu of condemnation, aro hereby assig~od
and shall be paid to i.ender.
In Ihe evcnt of a total taking of thc Pmpcny, thc prcxceds ~hall hc ~pplied to thg sums secured by this Martgage,
~ , with the excess, if any, paid to Borrower. In the even~ of a partial taking of the Praperty, unlecc liorrower and I.ender
o~herwisc agree in writing, thcre shall be applicd to thc cums sccurcd hy thic Mongage such proponian o( the proceeds
as is equal to that proportion which thc amount of Ihc sum~ cccurcd hy this Martgagc immediately prior ta the date of `
taking bears to the fair market value of the Pm~xr~~~ immedi•rtel}• p~ior to ihe ciate of taking, with the balance of the proceeds
aid to Borrower.
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If the Property is abandoned hy Barrower. ~r if. after notice hy i.ender to Bormwer that the condemnor ofiers to make
an award ar uttle a claim for Jamages, Borrower faik ta respond M t_ender within 30 day~s after !he date such notice is
mailed. I.enekr is authorized to rnllect and appiy the prc~ceeds, at i.ender c option, either to rcstoration or r+epair of the
, Properry or to the sums secured by this Mongage.
Unlesc l.ender and Borrower otherwice agrce in N~ritin~e. an~• such applicalion of prex-eeds to principal shal) not extend
or postpone the duc date of thc manthly installmcnts referrcd to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Bomowe~ Nof Rekased. F.xtension of thc timc for paymcnt or modification of amortization af the sums securcd
by this Mortgage granted by I.enJer to an~~ ~uccecx~r in interect of Borrawer ~hall no~ operate to release, in any manner,
the liabili~y of the original Borrower and Borrower'c succesu?rs in interest. l.ender xhall not he required to commence ~
proceedings against such successc~r or refuse to cxtend time for payment or othen+~•ise modify amortization of the sums
cecured hy Ihis Mortgage hy reason of am~ demand made b~• the orieinal Bormwer and Bor~ower
s succetcors in interest_
11. Forbearance by l.eader NM a R'aiver. Ao~~ forhearancc b}• T.cnder in e±cercising any right or remedy hereunder, or
otherwise affiordec! by applicable law, chall not he a waiver of or preclude the exercise of any such right or remedy.
~ The proturement of insurlnce or the paymcnt of tatcc o~ Mher liens cx charges by I.ender shall not he a waiver of I_onder's
I right to acrelerale the maturity of the indebtednecc u:curcd hy thic Mortgage.
~ 12. Remedies Camulatite. All remedies provided in this Martgage are Jistinct and cumulative to any other right or
! reme.iy under this Mortgage or afforded hy law or eyuity, and may be exercised concurrently. independen~ly or successively.
13. Succeswrs aeed A~es Bound; Jant and Sererai i.iaM'lity; C.aRtioac. The covenants and agrcements herein
contained shall hind, and the rights hereunder shall im~rc to, the respective successors and assigns of I_enckr and Borrower,
subject to 1he provisions of paragraph 17 hereof_ All covenants and agreements of Borrower shall be joint and several.
'il~e captions and headings of the paragraphs of ~his Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereaf.
- 14. Notke. Except for any notice reyuired under applicable laN~ to be given in anotFer man~er. (a) any notice to
&~rrower pmvided (or in this Mortgage shall be given hy-mailing such notice by certified mail addresu:d to Borrower at
the Propeny Address or at such other addrest as Bormwer may decignate by no~ice to l.ender as provided herein, and
(b) any notice te Lender shall be given hy certifiecl mail, retum receipt requested. to I.ender
s address stated herein or to
such other addrcss as I.ender may designate by notice to Bormwer as provided herein. Any notice pmvided for in this
Mortgage shall he deemed to have been given to Borrower or I.cnder when given in the manner designated herein.
15. Uniform Mort~aRe; Go~erniu~ tarr; SeveraM'lity. This form of morigage combines uniform rnvenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a unifomt security instrument covering
real property. 7?iis Mortgage shall be governed hy the law~ of the jurisJiction in which the Properiy is located. In the
event that any provision or clause of this Mortgage or the Note conflicts with applicabk law, such conflict shall not affect
other provisions of this Mortgage or the Note which can 1?e given efTect without the conflic~ing provision, and to this
end the provisions of the Mortgage and thc Note arc dcclared to he severable.
16. Eorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. Tnnsfer of tbe Property; Assumption. If all o~ any part of the Pmperty or an intercst therein is sold or transferrcd
by Borrower without Lender's prior wrilten consent, excluding (al the en:ation of a lien or encumbrance suborJinate to
this Mortgage, (b) the creation of a purchase money security interest for ha~sehold appliances, (c) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (d? the granl of any Ieaschold interest of three years or leu
not containing an option to purchase, Lender may, at I.encier c option, declare all the sums secured hy this Mortgage to be
immediately due and payable. Lender shall have waived ~uch option to accelerate if, prior to the sale or transfer, Ixnder
and the person to whom the Property is to be solJ or transferrrd rcach agreement in writing that the credit of such person
is satisfactory to t.ender and that the interest payable on the sums secured by this Mortgage shati !~e at such rate as I_ender
shall request. If [.ender has waiveci the option to accelerate provided in this paragraph 17, and if Borrower's suceessor in
interest has executed a written assumption agreement accepted in writing by ixnJer, IxnJer shall release Borrower from all
obligations under this Mortgage and the Note.
IF I_ender exercises such option to accelerate, I.enJer chall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a perioJ of not Iess than 30 days from the date ihe notice is mailed within
~~hich Borrower may pay the sums declared due. If Borrower fails to pay such sums prior ta the expiration of such period,
I.cnder may, without further notice or ckmand on Korrower, invoke any remedies F+ermitted by paragraph 18 hereof.
NoN-UtviFORt?t CovEtv~tv-rs. Borrower and I_ender funher covenant and agree as follows:
18. Accekratioo; Remedks. Eacept sis provided ia pa~raph 17 hereof. upoe Borrower's brrscb of aay coresaat or
aRreemeat of Bormwer ia tbis Mat~a~e. lncfodieg tbe covenants to pay when d~e aay snrns xcured br t6ts Mo~a~e, i.ender
prior lo accekrs8oo s6d1 mai! aotlce to Eorrower as provided ie psn~rap6 14 henof specKyi~: (1) fbe breacb; (2) tbe adion
required to care soc6 brcacb; (3) a dste, not Iess than 30 days from t6e date t6e notke is mailed to Eomuwer, by wAk6 snc6
breach mwt be cared; aod (4) t6at failere to cnre sach breach o0 or betore the date spec~ed i~ t6e notfce mq resolt is
acederatioe of tbe saa~s secared by this Mort=a~e. torccbsore by jndkial lroeeedi~ ~d sak of tbe Properfr. 1be aotke
shall furt6er iaform Borruwer of ths to rei~tste after accekradon and t6e ri~bt to ~ert ia tbt foreclosere proc~ed6~
tbe noe-e:istence ot a defsolt or aay other defense of Borrower to sccekratba sad foreclosure. If tbe bresc6 k wt cured o0
or 6efore tbe date speci6ed fo tbe ootiee. Lender at Leade~s optioa ~aay dcchre a0 of tbe saos second by t6is Mortgaae to be
iromediatdy doe a~d p~yabk witboot fnrtber demsad sed msy forecbse d~ Mort~~ bl' jodicitl Procee~. Le~der shaB
be eotitled to colk~ ie s~cb proeeediu6 d e:pensa of foreclowre, facla~os, but aM Wdted to, rearow6le attome~'s fees.
aod costs of docomeatary e~Weece. ~tracb a~d t~tk repor4.
19. Borrowds Ri~bt to Re~Nate. Notwithstanding Lender s acceleration of the sums secuted by thia Mortgage.
Borrower shall have the right to have any prcecedings begun by Lender to enforce this Mortgage discontinucd at any time
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