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I.cn~l.~'~ ~+~iticn agr«nui~t a~ :~pplir.~hl~ la~~. liurrc~~~~r ahall pa) tl~r anwunt ~~f :dl m~~rt~;:~~~c in.w:~nrc ptcmiun~s in Ihc
niann~: r ~~r.~viitr~l uudcr pa~:~~;raph hrrc.~(.
i~m• atn~~unts dichursr~i h~• I.cn~hr ptu,u:int t~~ Ihi: pa~.~r~:~ph 7. ~vith iot~n:.t Ihc~run. ~h.+ll hr;~,mc additii~tZal
in~hMr~lnr.~ ~~f liorn~~~cr .c:urrd M• thi~ ~Iar1~:~gc. l'nl~.~ Ro~ru~~~r aml I rn~l~r :~,,rr. t.~ othc~ Icrm. c~i pa~•mcnt. ~uch
am~unt..h:~ll tx: pa~~ahlr u~~n nuti~c fmm 1 rn~kr h, Rorm«r~ rc.~uc.tinc pa~•mrnt th~rru(. and ~h.~li tk•ar intcr~.t fr.un thc
dah .•f ~li.hursemcnt at thc r.~tc pavaMr frrm timc t.~ timc rn outctandinc rr~~,~-~r~i undcr thc Kotr unlcc. pat~ment of
intrr.•.~ at ~uch ratc ~~•oid~l hc contrary t~• applirahlc la.~. in ~~lurh ~vcnt ~uch am~unts ~hall txar intcrect thr highc:t rstc
(krmicsihl~ u~dcr applicahlc la~v. T~athink r~?nt:iinc~l in Il~i: p:iracr,~ph 7 chall ~cyuirc I.cndcr r., incur an}• c~pen~c ~r take
aoy :icti~~n hcrcu~dcr.
_ 8. U~spectia~. LenJcr may mal.~ or c.~u;e to tk m:~d. rca.onahlr cntriec ~~~n and impc:~ti~•n: of the Yr.~~rt~•. providctl :
that 1 ra~lcr shall givc II~,rro~~•rr notirc pri~~r to :im' .uch in.~xc~ian ~~xci(ying «a~unablc rauc~ tl~rrcfor ~clatcJ tu I.cndcr's ~
intcr~.t in thr Aropcrt~•.
9. Condcmnatiun. Thc pracrcdc of am• a~~~ard or claim for damaerc. dircct or con.cqurntial. in connc:ti.~o with am• ~
condcmnati~~n or othcr t:~kinF of thc Pr~~~krty, c,r part thcrerf. or for rnnvct•anrc in licu of cc~n:lcmnation, arc hcrchy a~cigncd
and ~h:~ll t~ paid to I_cndcr.
ln thc e~•cnt af a total takint of thr Pm~rt)'. thc pr~kccJi ~hall tx applicd to Ihc ~umc srcurcd br thic I~lortgaGc,
~vith tt?c c~rc.c. if an~•. ~•aid to Born•~vcr. ln thC c~'~ot ~~f p:~rti:?I t~king uf thc Pro{krt~', unlccc Borro~+•cr and I.cndcr
othcn~ i.~ agrcc in writinc• thcrc shall hc ,~~i~ca « thc ~um~ ~ccurc.f h~ thit A1ort~aLC cuch proporti~n ~f thc procccds
;?s ie rqu:d to that pmporti~~n ~~hich thc amc~unt of ~hc ~umc ~ccurcd M~ thic \iortg~,_c imm~diatcl~• pri.~r t~ thc datc af
takin~: tkars tn the fair markrt ~~alur of thr Pn~~r1~~ imm~diatrl~~ rrin~ to the d:de of takinc. ~cith the balanc~ of the proceeds
p:,id t~~ Barrow•er.
if the Property is ahandoncd b~• Bo~ro~~•cr. or if. after notice hy I.endcr to Borrc~w~er that thc condemnor ofien to make
an a~~•ard or ~ettle a claim for dani~ecc, B~~rr.ti~~•cr faih to rc~Ex~nd t~ l.ender ~vithin ?0 da~~s after the date su:h notice is
mailed. Lcnder is authorized ta callect and apply thc procecds. at I.cnder'c option, cither to rectoration or repair of the
Pro~n~ ur lo the aums sccured by this \lurteag~.
Unlcss I.ender and Rorro~cer othenvise aerec in ~s~ritinc. am• such application of prc?ceeds to principal shall not extend
or ~x~.tpone the due da~e of the monlhl~• installmentc referrcd to in paragraphs~ 1 and 2 hercof or chanee the amount of
such installments.
10. Bor~ower Not Released. Extension of the time for pa~•ment or modification of amortization of the sums securcd
by this Aiort~age granted by I.ender to any cuccessor in intere~t of Bonow•e~ shall not operate to rcle~se. in any manner,
the liahilit~ of the original Borro~~•er and B~~rro~ver
~ succescors i~ interest. I_ender shall not be reqoired to commence
proceedings against such successor or refu~e to extend time for payment or othen~~ise mcxlif~ amortization of the sums
secured by this I~tortgage by reason of an~• demand made b~• the ore~ina) Borrow•er and Borrower's successors in interest.
11. Forbrrrance br i.ende~ 1~ot a~Vaiver. An~ forhearance by I.ender in exercising am• ri~ht or remed~ hereunder, or
othenvise afforded by applicahle law, sh~ll not he a wai~~er of or preclud~ the esercise of any such right or remedy.
Thc procurement of insurance or the payment of taxes or other liens or charges by T.ender shall not b~: a v?~aiver of Lender's
right to accelerate the maturity af the indebtedneu secored h~~ this Mortgage. .
12. Remedles Cumulafive. All remedies pro.•ided in thic hlortgage are distinct and cumulative to am other right or
rcmed~• under this Martgage or atforded h~• laa• or equit~•. and ma~~ be exercised concurrentl~~. independentl~• or succecsively.
13. Successors and Assigas Bound: Joint and Se~ eral I.iability; Captions. The covenants and agreements herein
contained shall bind, and the rightc hereunder shall inure to, the respecti~e succe.sars and assignt of i_ender and Borcower.
subject to the provision~ of paragraph 17 hereof. All co~•enants anci agreementc oF Bor~o~.er shall t~e joint a~d se~eral. -
The captions and headings of the paragraphs of this Afortgaec are for convenience onh• and are not to be used to
intcrpret or define the provisions hcrcof. '
14. Notice. Except for any notice required ~nder applicable la~+~ to be gi~en in another manner. (a1 any notice to
Born+~ser pmvided for in thic '~lortgace shall be given b)• mailing curh natice by certified mail addresced to Borro~~er at
thc Pmpcrty Address or at such other addresc as Borrou•er may dcsignatc by notice to i.ender as pm~idcd herein, and
(h) any notice to I.ender shall hc: gieen hy certified mail. return receipt requested. to I.enders address stated herein ar to
' such othe~ address as I.ender may dcsignate b~ n~tice to Borr~~w•er as provided herein_ Anp notice provided for in this
j I?iortgage shall he deemed ta have been given to BorroWer or l.ender ~.•hen given ire the manner designated herein.
! 15. tJniform 111ortg~~r. GoverninR i.a~c; Se~~erabilit~. This form of mortgagc rnmbines uniform covenants for national
~ use and non-uniform covenants with limiled variations M• joritdiction to constih~te a uniform security instrument rnvering
real propert}•. This Mortgage shall be governed h~~ the la~~~ of the jurisdiction in Which the Propert~' is located. in the
event ~hat any provision or clause of thic 11Tortgage or the I~ote conflicts w~ith applicable law. such conflict chall not afiect
other provision~ of this Mortgage or the Note w•hich can t?e gi~en cffect ~~ithout the conflicting pro~icion. and to this
~ end thc pravisions of the Mortgage and the ~ote are dectared to he severable_
~ l6. Borrowe~s Cop~•. Borrow•er shall he furnished canformed copy of the I~ote and of this biortgage at the time
~ of cxc~:ution or a[tcr recordation hcrcof.
17. Transfer of the Properfy: Assumption. If ali or an~• part of the Property or an interest therein is sold or transferred
by Borrow•er without Lender's prior wriurn consent. excluding (al the creation of a lien or encumbrance subordinate to
thic 11'Iortgage. (b) the creation of a purcha~e money securit~• interest for household appliances, (c) a transfer b~ devise.
de.ccent ar by operation of laK• upon the death of a joint tenant or (cl) the g~ant of ao}' leasehold interest of three years or less
not containing an aption to purchase, l.ender may, at Lender'c option, declare all the sums secured by this ~lortgage to be
~mmcdiately due and payable. I_ender shall ha.•e N~ai~•ed such option to accelerate if. prior to the cale or transfer, t.ender
and the person to whom the Property is to be sol~l or transferrcd r~ach agreement in w~riting that the credit of such perton
is satisfactory to I.enJer and that the iMerest pa}~able on the sumc secured by this l~iortgage shall be at such rate as Lender
shall request_ Tf Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's suceessor in
interest ha~ executed a w•ritten assumption ag:cement accepted in ~vriting by I.ender, l_ender shall releace Borro«er from all
obligations under this Mor~gage and the Nate.
~ If I.ender exercises such option to acrelerale. [.enJcr shall mail Borro~~~er notice of acceleration in accordance w•ith
paragraph 14 hereof. Stich notice ~hall provide a~riod of not less than 30 daps from the date the notice is mailed within
~ w•hich Rorrow•er may pa~ the sums declared duc. If Borrower faik to pay such sums p~i~~r t~~ the expiration of such period.
~ Lcnder ma~, without furth~r notice or d~mand on Borrow•er, io.•oke any remedies permitted M paragrapfi 18 hercof.
~ ho~-UtvtFORt?t CovtKAxTS. Borrow•er and Lcnder further co~enant and agrce as follows:
~ 18. Acceleration; Remedies. Except as pro~~ided in paraRraph 17 hereof. upon Borrower's breach of any co.enant or
~ agrcr~ncnt of Borrower in this ~IortgaRe, includin~ the co~tnanls to pay when due ~ny sums cecured by this ~iortgaRe. Lender
prior to acceleration sha11 mail nofice to Borrower as prn~~ided in paragrrph 14 hereof specifS•ing: (1) the breach; (2) the action
reyuired lo cure such bmach; (3) a date. not less than 30 da~s irom the date the notice is mailcd to Borrower. b~• which such
breach musf be cured; and (4) Ihat failure to cure such breach on or before the date specified in the notice m~v result in
aceeleratiun of fhe sums secured by this hiorfga~e. foreclosure by judici~l proceedinR and sale of the Propert}. The notice
shall further inform Borrower of fhe ri~ht to reinct~te after acceleration and the ri~hl to assert in the foreclosure proctedin~
the n~,n-exislence of a default ur any other defen~c of Rorro~~er to accelerafion and foreclnsure. If the breach is not curcd on
or beforr thr date speci6ed in the notice. l.ender at I.ender's option mar declare all of the sums secured by this ~tortga~c to be
immccliatel~• due and pa)~ble without further de~n~nd •rnd may~ foreclose Ihis ~tortRage by judicial proceeding. Lender shall
be entilled lo collect in such procetding all expenses of foreclo,ure, includinR. buf nul limiltd to, re~?nable attorney's feec.
and cu+tc of documentary evidence. abstractc and litle reports. '
19. Rorrower's Ri~ht !o Reinstate. 1~~tw•ithctanding l ender'c arreler.~tirn of the sum. ~ecureJ b}~ thic Mortgagr.
I3orn+w~r shall havc the right to ha~c an) prucccdi~sgti Ixeun hy 1_atJcr lu cnforcc thi+ l~tortbagc discontinucJ at any timc
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