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i rnJri'~ wnltrn .~grr.~urn~ ur appl~.aMr L~N. H~~•r.,~~~r ~h.ill pa) thc an?.~in» af .il) martga,~r m.uran~~ prrmiu~~s in th~
~n.~onrr i~r~~v,Jr.l under {~al.~~t.~ph 2 h~riuf.
~~m• anw~n?1~ Ji.hnr~rJ b~' I rn.lcr putw:~nt t~~ thu r:,r.~g,:~~,h Huh u~t~~~~t Ihci~~~n. ~hal) ~x~utn~ :i~diti~~nal
~n~Icht~Jnr~~ ~~f B~~rtu~tcr ~iiur~J h~ Ihi~ ~t.?rtt.~~~ l'iil~~~ Buir~~.~~•r an~t 1 rn.lri :~K1~r !i~ ~~ih~r I~rrtlc ~~f paymcnt. .urh
:~m~~unl. ~h.~ll tk ~~.~~:~hlc ur,~n n~~u,r fn~m 1 rn~lrr 1~~ B~~rn~Nrr rry~~r.iinc ~~.~rm~nt ~hrrr.,1. :~nJ .h:dl ikar im~rr~t frum thc .
~i.,~r „t di.huri~mcnt a~ th.~ r.~~r ~a• :~htr f?~~m ~imr ~o ~~mr ~~n ~~~~~.t.u~Jine ~r~ncipal undcr ih~ \otc unlc., payment at
inter~.t at curh r.i~~ yi~ul.l he c~~ntrar~ a? appli;ahle la~v. in whiih event ~uch am~~i~mc ~h:~ll hcar i~terect at the highett rate ~
r?c~mis:iM~ un~rr appl~;ablc law. Nuthing contained in Ihic paragraph 7.hal) reyiuro Lcnder 1~ incur any erpenu or take
.~n~• aciion hcreund.r.
S. Incpecliun. I.en~ier ma~• m:~kc or rause to t+e made reaconahlr rntriec ~i~x~n and in+~xc~ion. of the Pro~xrty. pmvided '
inat e cnuer cnaii giv~ BorroN•cr nuncr pnc~r t~~ am• such m~{+cclion ~~xc~l)~~ng r~~s~.nablc rauK thrrctor rc1a1cU to I.enaer's ~
intrrc?t in thc Pruperty. • -
9. Candemnafbn. The pr~.:eedc of anp award or claim t~~r damages, direct or con~equential. in connection w•ilh any
:ondemnation or other taki~g of th.: Propen). or part there.~f, or for a~nveyance in liru of condemnation, arc hercM~ ascigned ~
:?nJ sh~ll t+e paid to l.cnder.
In ihe event of a total takine ~f the Prc~nen~, the pnkeeJs ~hall he annlieJ to the sumc x~urcd by lhic Morteaee. _
:~ith the e~cres, if any. p.~id tu Hcirmwer. in Ihe event ~f a partial taling of ~he Property. ~inlecc Rc~rrower and I.endcr ,
~~therwice agree in w•ri~in~. ~here shall he applied to ihe sum~ serurcd M• thi~ M~r~~;age eoch pro~x~rtic.n ~f th~ proceeds
.is is ~qurl to that pmpc•rti~m N•hi.h the amount of the sumc ~ecurrd hy this Mortgaee immedia~elj• pri~r to ~hr date of _ ~
taking hears to the fair market valoe of the Propert~• immediately prior to the ~late of ~aking, w•ith the halancc of the pmceeds
paid t.i Borrower. ~
If the Pmperty~ is abandone.l b~• Borrower, or if. aher notice hy l.endcr t~ Bo~m~vrr that ~he condemnor oBer4ta make ~
:~n aw;~rd or seUle a claim.for dan~.~~;~s. Borr~~w~r faik t~? re~{+~~nd to l ender within i~ da~~ :?fter the date such notice is ~
mailed, i.ender is authorizcd ~o collect and ap~h• Ihe proce~Js. at l.end~r'~ upti~n. either to rectoratian or rcpair of the
Pr~~xrty or to the tiums recureci b~~ this I~tortgage. •
l!nles~ I,cndcr and Barn~~~er o~hcn+~isr agrc~ in ~~•ritinc. am• wrh appliratinn ~~f prcxeedc t~~ prin:ip:~) ~hall n~~t e~tend f
.~r ~.Ipcme Ihe due date of ~hc m~mthl~• installmrnts refrrr~d to ~:+ragraphc 1.~nd h~~cof ~r chan~c the amount of •
,uch installment~.
10. Bur~ower \ot Releauc~l. Ertenciun o~ the time for payme+~t or mc•difi~ati~~n ~f amor~ization of the tumc ~ecured _ • ~
hy thi~ ~lfongagc gr.?nlcd by I_c~Jer to am~ ~urcessor in intrrcct ~~f B~~rrower tihall not o~rate to rclease, in an}• manncr. .
the liahilit~• ~•f the arigin:?1 BorroHCr and Borrower's sitccesu,rc in interest. I.enJer ~hall n.~t he rcqoireJ t~~ rnmmence
pr~,eeedings against such siicca.-~sar or refuce to ertend time f~~ pa~~ment or athen~~i.r m<•dify amortization «f the soms
~e:~urc3 b~~ thic Mortgage M• rcasrn of any demand made b~• thr orieinal Borrower and Rorrower s succec~orc in interest.
11. Forbearance by I.ender tiof a Waiver. Any f~rhearanre b~• I.~nder in e~crcicing anv right or remcdy hereundcr, or
~~thenvis~ affordcJ by applicahle iaw. shall not he a waiver of ~~r preclude the c~ercisr of any such richt or remed}•.
Thc prckurcmcnt af insurancc or the pa}•mcnt of ta~cs or othcr licnc ~x chargc~ by Lcnder ,hall not he a~~ai~•er rf t.cnder s
right ta acrrlcratr thc maturity of thc indchtcdnr~c .ccurcd h~• lhi~ ~ioneagc. ~
12: Remrdies Cumulative. All rcmedies pm.•ided in thir ~1i~rtga~C an: dictinrt and rumulative to an~• ~~ther right c?r
rcmed~• undcr Ihi~ MonFa¢c ~~r aff~r~lyd h}• l:?w ~,r eyuilt~. and ma~ he ~~erci~rd c~ncwmntl}~. independentl~• ~~r ~urrecsi.•ch•.
li. Successors and A~siRns Bound: Joint and Seceral I.i:ibilitv; ('aptio~. The covenants and agrrementc herein
~ontaineJ ~hall hind, and the riQht~ hercunder shall inure t~•, thc rcti}~cetive sucec+sorc and accignc of l.ende~ and Bormwer.
.ubjcct to ~hc pruvicion~ of paraerapn 17 hcrcoL All covrnams aiid agrccmcntc c.f Borrow~cr shall hc jciint and sc~•cral.
Thc raptianc :rxi hcad~ng~ of thc paragraph. of thi~ Mor~gaec arc for c~nvcni~ncc only and arz not t~~ bc uced to
intrrprrt or dc6nc thc pmciciom hercc.f.
14. Notice. Exccpt fi~r anv noticc r~yuircd unJcr aprlicahlr la~~ tr tn eivcn in anothcr manncr. (al an~• noticc to
F3ormwer providcd for in thi. ht~~rt;;ake shall he ~ivcn h}• mailin; wch notice h~ crnificJ mail addresc~d to Rorri•wer at
~ the ProExrty AdJrc.. ~~r at surh uthr? addre« as B~,rmwcr ma~ dc.iLna~c M• nc~ti~c t~~ 1 cndcr as' proviJcd hcrcin. and
Ihl ant• nc~ti~~ u~ I.rn~cr shall tx gi~•en h~• ~crtified mail. return rtcript rcqueq~J. to Lcnder~ address statcd hcrein or to
.uch uthcr addresc Lrndcr ma~~ dLcignatc b~ n~~ti:•c t~~ B~~rr~n+cr as pm~~i~ed hcrcin. :~m~ nolicc pro~idcJ for in this
~turtgagc shall t+c deeme~ t~ ha~•e becn xi~•cn to Ki~rroH•er ~~r I rnd~r tihen givc~i in thc m.inner eksiQnatrd herein.
15. Cniform ~iurt};•r~;e: Cm~crnin~ I.aw•: Se~erahilih. Thi. t~~rm ~~f mortga~c rnmhines unifarm covcnants for nali~nal
~,tie and non-unifc~rm c~~ernant~ ~~ith ?imitc.l ~aria~~.~n. h~~ jur~~~i~~liun to c~nstitute a uniforn~ cccurity intitrument ro~ering ~
rcal pm~ert}•. Thic ~lortg:tgr shall be governrd h~• the I:lK (~f the juri~dicti~•n in which thr Pmpert}' i~• Icx:ated. In the ~
, event ih:U am• provisiun ~~r rlauce nf thi~ !1lortga_~c ~•r !he \~~~c ri•nflict, aith~applicaMe laW. tunc ~onflict thall not affect
~~lhcr pr~~~i~ia~s ~~f thi; Mortgair or thc N~.tc ~tih~ch ran tx Li~~n cfir~t ~~'ilhout thc c~n:licting pmvicion_ and lo this
~nd th~ pru~ itii~,ns ~f thc ~t~~rt?;agc and !hc \~~tr arc ~ir.larcd t~~ tw .rvcrahlc. •
16. Bormw•ers Cop~. Borro~.rr .h:~ll hc furni.heJ ~nn(~~rmcd cc.p~~ uf thc N~~tr anJ ~~f ihia ;liort,agc at the time Z
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.~f execu.ion c~r aft~r rcrurdaticx~ hereof. •
17. Trancfe~ of the Prupert~: Accumption. If all ~~r anc p.~rt ~,f thc Pr~~~x rt}• .~r an intcreu thercin is ~~~ld or tranaferred ?
! BorruNrr ~ithuut Lcndcr', prior ~+ritt~n c.~nunt. ~~rlading 1:~~ thc rrcati~n af tirn or cnciimhranre sutx>rdinate tc? i
; thi~ Mortgaqe_ Ih) thc rreation irf pur~ha~ numr~~ .c~urit~ im~rest 1.~n c~~usehi~ld applian~es. (cl Iran~fer bt~ devise,
~ieK:~nt ~~r h~• o~ration o: la~~ upon the ~icath nf i~~~nt trnam or (~I? ihe ;ram ~~f am Icacehold intcrest of threc }•~ars or less
' n~u rnntaining an c•ption tc? pur~hasr. Lcndrr ma~•. at I cnder'~ ~~peiun. derlare afl thr ~ums secured h}~ this ~lortgage to be
! ~mmc~liatcly~ duc and pa~~aMr. l_rndcr shall ha~~ wai~rJ .~i~h upti~~n t~, acrrler:~tc iL pri~~r to the ~alc or transfcr. i.ender ~
; :~nJ the peru?n to..h~~m the Pro~rt~• ic t., ~ s~~l.t ~~r tr:ir.,f~rrcd rcach agreement in W~riting that the credit uf such person s
! i~ satisfacn.n• tn i.endcr :,nd that thc interc,t pa~•:~ble ~~n the sum. uucurcd M• thi. ~tortgage shall be at sach rate as I.ender ~
i •hall reyuest. If I_enJer has wai~•eJ th~ i~pti~~n t~• acc~leratr prr~~idcd in this paraLraRh 17, and if Bormwer's svccessor in ~
~ mterest ha~ execuled a w•ritten ascumption agreement accepted in writing b}• I.enJcr. t.ender shall releace Borrower from all '
~ ubligations under this Mc?rtgage and thc Note.
~ If I.ender exercise:c such nption to acreler.~tr. Len~lrr ,h:dl mail B~rrowcr notice of acceleration in arcordance with
~ paragraph 14 hereof. Such notice thalf ~roviJe a perioJ ~~f not Iccs than 3(1 da}•t fr~m the date the notice is mailed within
~ which Borrower may pay the sums JeclareJ due. If B~rmw~r faih to pa~~ such .ums prior to Ihe expiration ~~f such period,
~ I.en~cr may, without luriher notice or dcmand c.n liorr.~wcr, in~oke am~ remedies pcrmitted by paragraph 1R hcreof.
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; Norv-U~iFOR~t CovEx~:vTS. Borrower and 1_cnder further covenant and agree as follows:
; l8. Acceleratan; Remedies. Except as pro.•ided in par~;raph 17 hercof. upon Bonower's breach of any coveoant or ~
! agreemeat of Borrower ia this Mortgage. includin~ the co~enants to pAy when due an}~ sums securcd by thic Mortgage. I.ender ~
j prior to accekratan shall mail notice to Borrower as pro~ided in p~ragraph i4 hereof specifying: (1) the breach; (2) t6e actioa i
requind to curc snch breach; (3) a date. not less than 30 da}s fmm the date the notice is mailed to Borrower, by whic6 such i
~ bnach must be cured; aod (4) thal failure to cure stuh breach on or before the date specified io the notke may resdt ~n ~
~ acceleratbn of the sums secured by this Mortgage, forcclosurc b~• judicial proceedin~; aad sale of the Pmperty. Tbe aotice . ~
~ shall furlher inform Borrower of Ihe right fo reinst9te after acceleration and the riRht to assert in fhe foreclosure proceedieg ~
; ehe noa-exisience of a default or anv other defense of Borrower to 9cceleration and foreclosurc. If tbe breach is not cured on
or before the date specified in tMe aotice. [.ender at Lender's option ma}• declare all of the sums secured by tbic Mortg~e to be i
6 immedhtely due and paya6k without furlher dema~d and mas- forcclose lhis Mort~age by judicisl proceedinR. Leader shap
be entitled to colkct in such proceeding all e:peases of foreclosure. including. but not Umiled to, rcasonabk attornep's fees, ~
; and casts of documentary evidence. abstracts and titk reports. ;
; l9. Borrowe~'s Rjght to Reinstate. Notwithstanding [_ender'c acceleration of the sums secureJ by this Mortgage.
~ Borrower shall have the right to have any proceedings hegun by Lender to enforce this Mortgage discontinued at any time
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~ ~QOK ~7'. ?ACE 3z8 ~
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