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l.ender's written agrcement or applirabk law. 8orrowcr ahall pay the amount of all mortgage insurance premiur~u i~ the ;
msnncr provided undcr paragraph 2 hcreo(.
Any amounts distx~rsed by l.cndcr pursuant to tha parag~aph 7, with iaterest thereon, shall became additional `
indcblodncss of Borrawe~ socured by this Mongagc. Unless Borrower and [.enJtr agroe to other ternu of paymen~ such '
amounts shall be payabk apan notic~ fmm I.ender to Borrowrr requcs~ieg payment thereot, and shall bear intercst from the ~
date of disburarment at the ntc payahk tmm timc ta time o0 ootstanding principal u~der the Note unless payme~?t of '
interest at auch rate would be rnntrary lo applicable law, in which evenl such amounts shall hear ioterest at the highcst rate
permissibk under applicabk law. Nathing ccMtained in this paragraph 7 shalt require I.e~der to incur a~y expet~sa or tate
any action her+cunck~. .
8. I~specfio~, l.ender may make or cause to be made rcaconable entries upon and inspectians of the Property. provided
that I.e~der shal) give Borrower notice prior to any such inspection speci(ying rrasonabk cause therefor related to [~nder'a
interest in Ihe Pt+~erty, t
9 Coaden~satbs. The proceeds of any award or claim for damages, direct or consequential, in co~~ection with any r
condem~ation ar other taking of the Property, or part therrnf, or far canveyancc in lieu of cc~ndemnation, are hereby assigned ~
a~d shall be paid ta I.cnder.
in thc cvent of a total taking of the Pmpchy. the prcx-ceJs chall be applied to the sums secured by this Mortgage.
with the exctss, if any, paid to 8orrower. ln thc evcot of a partial taking of the Property, unless $ormwer and Lendtr
olherwise agrte io writing, there shall be applied to the sums securcd b~ thi~ Morigage such proportion of the procteds
~ as is equal to that proponion w~hich thc amount of thc sumc sccured by this Mortgage immcdiately prior to ~thc date of
taking bears to the fair market valuc of thc Pm~xrty immediatety priar to thc date of taking, wiih !he balance of the proceeds
paid to 8orrower. .
If the Property is abandaned by Borrower, or if, after no(yce by i.ender to Bormwer ihat the condemnor oBers to make
an award or settle a claim for Jamages, Bc~r~ower fails to n.spond to l.ender within 30 days after the date such notiee is
mailed, Lender is authorized to collect and apply ti~e proceeds, at 1_ender'x option, either to restoration or repair of the.
Propcrty to the sums secured b} this Mortgalee. '
Unless I.ender and $orrower otherwice agrce in N~riting. any such application of proceedc to principal shall not extend
or postpone the due date of the monthly installmcnts referrcd ta in paragraphc 1 and 2 hereof ar change the amount of
such instaltments.
IA. lbrrower Not Released. Extension of the time for payment or modificatian of amortization of the sumc secured
by this Mortgage sranted by I_ender to any euccessor in interest of Borrower shall not operate ta release, in any manner,
tF~e liability af the original Borrower and R~~rrower i successorc in interest. l.ender shall not be required to commence
proceedings against such successor or refi~se to ertend time far payment or otherwise modify amortization of ~he sums
secured b~• thic Morlgage by reason of am• demanJ made by the oriRi~a) &irrower and Borrower
s successors in interect.
11. Forbeuance 6y I.ender NM a Waiver. Am• forhearance hy l.ender in exercising any right or remedy hereunder, or
olherwise afforded by applicable law. shall not he a waiver of or preclude the exercise of any such right or remedy.
The procierement of insurance or the payment of rrxes or other liens or charges by [.ender shall not be a waiver of 1_ender's
right to accelerate the maturity of the indehtednecs cecured hy thic I?iorigage.
12. Remedies Camnlati~e. All remedies provided in this Mortgage are ciistinct and cumulative to any other right or
remeJy under this Mortgage or aRordrd by taw ar equity, and may be exercised concurrrn!!y, independenUy or succecsively.
13. Snccrssors and Assigns Bound; Join.l and Several i.iaM'lity; Captions. The covenants and agreements ficrein
contained shall bind, and the rights hercunder shall inurc to. the n~pective succet~rs and assigns of I_ender and Borrower_
subject to the pravisions of paragraph 17 hereof. All covenants and agreements of 8orrower shall be joint and ceveral.
The captioos and headings of the paragr:,ph~ c?f this Mongage are for coavenience only and are not to be used to
interpret or define the provisions hereof.
l4. Notiee. Except for a~y ootice reyuired under applicable law to be given in another manner. (a) any notice to
Borrower provided for in ihis Mortgage shatl he gi~~en hp mailing tuch notice by certified mail addressed to Borrou~er at
the Property Addresc or at such other aeldresc as Borrow~er ma~- designate.b~~ no~ice ta T.ende~ as provided herein, and
(h) a~y notice to Lender shall he gi~•en by certified mail. return receipi requested. to Len~ler s address stated herein or to
such other address as Lender may designate b~~ n~~irc to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to ha~~c bcen gi~~en to Aormw•cr or L~nder when given in the manner designated herein.
!S. Unitore~ Mort~aRe; Governen~ [aw•; Sever~bility. Thic form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations h~• jurisdiction to constitute a uniform security insuument covering
real properry. This Mortgage shall t~ governed h~• thr law of the j~risdiction in which the Property is located. In the
event that any provision or clau~e of thi~ M~rtgage ~.r the !~iote ronfticts Kitb applicable law, sach conflict sha11 not affect
other provisions of this Morlgage ar the Notc which can t+e given effect without the conflicting provicion, and to this
end the pro~•isions of ~he Mortgage and the Votc arc dcclared to he se~erable.
16. Borrov~er's Copy. Bo~row•er shall be furnished a con(ormcd copy of the Note and of this Mortgage at the time
~o( esec~ition or after recordatian hereaf.
l7. Ttaasftr of tbe Propett_y: Assumplion. if ali or any part of the Pmpert~ or an interest thercin is sold or transferred
by Borrower without L,ender's prior writtcn consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mostgage. (b) the creahon of a purchau; mone}• securit}• interesf for household appliances. (cl a transfer b}• devise,
descent ar by operation of lau~ i~pon the death of a j~~~nt tenant or (d) the grant of any leaseh~ld interest of thrcc years or less
not containing an option to purchase, I_ender may. at I_ender'c option. declare all the sums secured hy this Alortgage ta be
immediately due and payable. Lender shall have W;?IY'Cd SUl'~l option Io accelerate if, prior to the ~ale or transfer. I.er.der
and the person to whom the Property it to be colJ nr t~ansferred reach agrtement in writing that the credit of such person
is satisfactory to L.eneier and that ihe intere.~ payable on the sums secured by this Mortgage chall be at such rate at I_ender
shall request. If [.ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest hat executed a written assumption agreement accepted in writing by !_ender, Lencler shalt releace Borrower from all
obligations under this Mongage and the Note.
If Lender exercises such option to acce)erate. 1_ender shall mail Borrower notice of acceleration in accardancr W~ith
paragraph 14 hereof. Such notice shall provide a perioJ of not less than 30 days from the date the notice is mailed within
whieh Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such periocl.
[.endtr may, without further notice or demand on lic~rrower, invake any remedies permitted by paragraph 18 hereof_
Nox-Utv~FORnt CovEN~tvTS. Borrower and Lender further covenant and agree as follows: ~
18. Accekrntion; Remedies. Except as provided ia paragraph i? bereof, upoo eorrorrer's brcacA of any coveoan~ or
agreemeat ot 8orrower iu t6k Mortgage, iecl~din~ ihe covenaats to pay wbea due any soais secnred by this Mortgsae, Leader
prior Io sccdentbn sba8 o~ail ootke to Eorron~er is providcd la para~nph 14 6ereoi specKyio~: (1) tbe bresc6: (2) the sctioa
reqnired to enre sac6 breac6; (3) a date. not less than 30 days from tbe date tLe notke is n~ailed to Eorrower, by whkh snc6
brescb mwt be cored; aod (4) t6~ failnre to cnre sach breach oe or befote t6e date specl6ed ia tht aotice auy resWt ia
accder~oa of tbe ssms secared by tbis Mor!`age. fwrcbsun by ludkial ~roceedin~ and sale of tbe Pmperty. '!be aotke
shail furtber inform Dorruwer oE the ri;M to reiastate dter acceleration and the rish! Io assect ie t6e foreclosnre p~ocee~
t~e uoa-existcace ef a defauk or any othcr defense of Borrower to acederatioa nnd foreclosare. U the 6resc6 is oot csned oa
or before the date ~peci~ed io t6e ootke, Lender at Lende~s option nwy derW+e aR ot t6e sams rec~red by tbls Mort~e to be
immediatdy dne aad psrabie wit6oot furtber demand and mny forecbse ttiis Morf;a~e by j~dkid proceedia~. LeRder shap
be eatitled to cd{ect i~ srci proceediaL aM expeoses of foreclosure. iaclndins, 6ot oot W~ited to, rea~oeabk attoraey's fees,
and cosfs of doc~reab~ry ezideeee. abstracts aad titk reports. ~
19. donower's R(Rit to Reio~hte. Notwithstanding Lender
s accekration of the sums secured by this Mortgage,
Borrower shall have the right to have any proceedings hegun by Lender to enforce this Mottgage discontinuod at any time
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