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l.eoder's wtittcn agreemc~t or applirable law. Borrower shaU pay the amount ot ali mottgagc insurac~ce premiums in the ;
manner providcd undcr parag~aph 2 heroof.
Any amaunts disburscd by Lcnder pursuant to this paragraph 7, with intcrest thercan, shal) become additiana)
indebtedncss of liorrowc~ secunxi by this MonFagc. i)nlea Borrower anJ l.ender agree ta other ternu ot payment, such
ama~nts shall !x payahlc u{x~n nwi~r fmm Lcnder to Rc~rrowcr reyuccting payment thercaf, and shall bear interest from the
date of disbursement. at the ratr payablc from limc to time cu~ autstanding principa) under the Note unless psyment of
interest at such rate would be co~trary to applicable law, in which event st~ch amounts thall bear ioterest at the highest rate E
pcrmissiblc under applitablc law. Nothing c~mtained in thi~ paragraph 7 shall require l.cnder to incur any eapetue or take
any action herounder. '
8. Inspectioa. l.ender may make ar ~:u~,c to t?c made rcawnable entries upcm and inspectionc of the Property, provi~d '
.that l.ender shall give Bormwer nu~irr pri~.r to any such ins{x~c:~ian specifying nasonable cause therefor related to I.ender's ~
interesi in Ihe Propeny. ~
9. Condemaation. The prcx:eed~ of any aw•;~rd ar claim for damages. direct or cancequential, in connection with any
condemnati~~n or other takin~ of thc P~operty, ur part therrnf. ~~r for cunveyance in lieu of condemnatian, are herehy assig~xd
and shall t,e paid to i.c~dcr.
ln the event of a total Iaking of the PmEx~ty. the pnxceds ehall be applicd to 1he sums secured by this Mortgage,
with the eYCCSS, if any, paid to Bor~c~wcr. ln Ihc cvcnt ~~f a par~ial taking of the Property, unlec.a Borrower and I.ender
olherwise agree in writing. there shall he applied t~~ the cum~ secured M• thi~ T?lortgage such proportion of ihe procteds
as is equal to that pro~rtion w•hich thc amou~~t .~f thc sum~ ~rcurcd by thii Mortgagc immcdiately prior to the date of
taking bears to lhe fair market valiM ~~f the PmExny immediatel)• prior to the Jate of taking. w•ith the t~alance of the proceeds
paid ta Borrower.
~ 1f the Property ic abandoned by Borrower, or if_ aftc~ notice by i.ender to Bor~ower that the condemnor ofters to make
an award or settle a ctaim for damage+, B~~rrc.we~ fa+l. re~pc~nd to l.ender within 30 days after the date such notice is
mailed. Lender ic authorized to collect and appl}~ the procreds. at 1_ender's option, either to restoration or repair of the
Proper~y~ or io the sum. srcured h~~ this A1~rt~agc.
Unless [_ender and 8orroH~er othen~•i~ agrn; in writine, an}• such application of proceedc to principal shall not'extend
or postpone Ihe due date of the mon~hh~ installmcnlc rcfcrrcd to in paragraphs 1 and 2 hereof or change the amount of
such installrrents.
10. Borrower Not Releaud. Extcnsion ~f Ihe time fur payment or mc~dification of am~rtization of the sums sec~rcd
by this MortFage granted h~~ l.ender lo any ~ucce«.~r in intrrect of Borrower thall nM o~xrate lo rclease, in any manner.
thc liabitky of Ihe ori~~nal Borrower and Rorre?wer'~ socces~ure in interest. Lender shall nat be required to commence
{~roceedin~s againtl such sucressor or refu~e tc. ertend time for payment or otherv?•i+e modify amortizatian of thr wms
sccured by ~his Mortgagc bV n:ason of am~ demand made M• the orieinal Bormwer and Borrow•ers succestic.rs in in~erect.
11. Forbearance by I.ender ?~of a Wai~~er. :1m~ f~~rhearanrc M• Lcnder in e~crci~ing an~ right or rcmedy hercunder, or
othen+vise aSorde~ by applicable law, ~hatl rn~t tx a w~aiver of or prec{ude the exercise of an} such right or remedy.
The procurement of insurance or the paymcm of tasr. or other liens or charges hy I.ender shal) not he a waiver of I_ender s
right to accelcratc the maturity of the indchtcd~etis cecured h~~ thic Mortgage.
12. Remedies Cumulative. All remcdies ~ra~~iJed in thic ~iortgage are distinct and rumulative to am~ other right or
remeJy under this Mortgage or affard~d M• {a~~~ ~~r eyuit~~, and ma~~ be exerciced rn~currently, independentl~• or sucee~tively.
13. Successors and Assi~ns Bound; Joint and Se.ernl I.iabilitr; Captions. 'The covenants and agrecments herein
contained shall binJ, and the riRhts hercunder tihall imirc to. the rcspective succec«.rs and actigns af I.ender and Borrovrer.
subject to the prrnisions of par~graph 17 hercof. All co~•ri~ams and agreements of Borrower shall be joint and several.
'il~e captions and headings of the paragraph. of thi~ hlongage are for convenience only anJ am not to be u~ed to
interpret or define the provisions here~f.
14. Notice. Except for any n..~i:c rcyuir~d under applicable law• to be given in another manner. (a) any notice to
Borrowe~ provided for in this MortgaEe ~hsll tx; kivrn h~~ mailine wch notice bV ccrtified mail addres~ed to BorroK~er at
the Property Address or at such other JIJIIfIi\ as~ R~~rr~•K~er m:~~• deaignate b~~ ~i?tice to 1_ender as pmvidcd herein. and
(bl any notice to Lender shalf M giv~n h~ certificd mail. return receipt requecteJ. m l ender c addre~.s statcd herein or to
such other address as Lcnder ma~~ dreienate h~~ nnti~r t~~ Rarroaer as pro~•ided herein. Any notic~ pmvided for in thic
Mortgage shall be deemed to ha~•c !?e~n ci~cn t~ B~rri~wer ~?r Lender w~hen gi~en in the manner designated herein.
'f 15. Uniform 1liori~;a~e; Go~•ernin~ IaN; Se.~errbilih~. Thi~ f~rm of mortgage rnmbines uniform covenanls for national
i use and nomuniform c~~~enamc with limited ~ariati~~n, ht• juriuliction M constitute a uniform securit}' instrument rnvering
j real property. Thi~ Mortgage shall tx g~,vrrned h~• the laa ~f the jurisdiction in which the Property is loc.ated. In the
~ .,vent ~hat any provision or clauce of thic AIAfl~:1,r ~~r the Note conflicts with applicable law, such confliet shall not afieet
~ other pravisions of this Mortgage or the N~~tc which c:~n be given eftect w•ithout the rnnflicting pmvision. and to this
~ end the provisions of thc 1liortga¢c and the \~.tc are .lakclared to be severabla
~ 16. Borrower's Cop~~. Borrow~er ~h:?ll t?~ f~irni.he~ a c~nformed cop}• of the Note and of thic Mortgage at the time
of executian or after recordation hereof.
~ 17. Transfer of the Propert}; Accumplion. If :~li ~~r am• part of the Pmperty or an interest therein i~ snld or trancferred
~ by 8orrower without I.ender's pri~.r writtrn rument. e~cluding (al the creation of a lien or encumbranee sutx~rJinate to
~ thic :Nortgage. (h1 the creation of , pur:h:,~r m~~ne~ kcurit~' mterest for househoW appliances. (c1 a transfer h~~ devise.
descem or by oExration of law upan thc .fcath ~•f a ju~nt tcnam ~•r (.li the grant of any leaschoid intercst af threc ~-cars or less
~ nnt containing an option t~ purchase. 1_ender ma~~. .~t I.ender'~ upti~n. declare all ~he sums secured by this Ttortgage to be
immediately due and payahle. I.ender th;ill ha~r ~~ai~~rd +urh ~ption to accclerate if. prior to the ,ale or transfcr. 1_ender
~ and the person to whom the Praperty i~ a~ Ix ~oW ~~r tr:~nsferred reach agreement in writing that the credi~ of wcFr person _
ic satisfactory to I.ender and that the interr.t pa~~abte on the sums serured by~ this Morteage shall be at such rate ac [_ender
~ shall request. if I_ender has waived thr option to accelerate pro~•ided in this para¢raph 17. and if Borrower'~ Successor in
interest has executed a written assomption agreement accepted in writing by I.ender. I.enJer shall release Borrow~er from all
obligations under this Mortgage and the Note.
~ If Lender exercises such optian to acceler~te, Lender ~hall mail Borrower notice of acceleration in accordancr w ith
~ paragraph !4 hereof. Such notice shall provide a peri~xl of not less than 30 da~•s from the date the notice ic mailed within
~ which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of .uch peri~xl.
Lender may. without further notice ~r demand on Bc?cruH~er_ invoke an}• remedies permiUed b~~ paragraph 1 R hereof.
~ NoN-Ur~FOtetH Coverr,~tvTS. Borrower and (_ender funher covenant and agree as follows:
~ 18. Acceleratan; Remedies. E:cept as pro~~ided in paragraph 17 hereof, upoa Borrowe~s bresch of aey covenant or
t~ agreement of Borrower ia 16k Mo~age. indudire~ t6e covenants to pay when due any snms secnred by tbis Mortgage. I.tnder
~ prior to accekration sha0 mail notice to Borrower ~ provided in paragraph 14 bercof specNyiag: (1) the breacb; (2) the action
required to curc such brrach; (3) a date. not tes than 30 days from the d~e the notice ts maikd to Borrower. by vshMh sach
breach mmt be cnred; aod (4) that failurc to curc such breach on or 6efore tbe date spec~'ied in the aotke may result in
" accderatiioa of the su~ secnred by this Mortgage. foreclosure by judicial proceedia~ and sak of tbe Property. 1Le notice
100
~ sl~all further iaform Borruwer of the right to reinstafe afler acceleration and the rig6t to assert in the foreclosuro ptoceed~n~
=c t6e aon-e:isteoce of a defauk or any other defense of BorroMer fo scceleration and foreclosurc. If t6e breach is not rared on
~ or 6efore the date spec[6ed ip the notice. Lender at Lender's option may declare sD of the sums secnred by t6~ Mortgs~e to be
~ immediately due axd paysble Nit6out fnrther demand and may forecbse t6k Mortg~e by judicial proceedin~• Lender shall
~ be eatided to colket in soch proceeding a0 expenses of forecbsure. includin~, bat oot limited to, reasonabk attorney's fees,
aod casts of docamentary evidence, abstracts and titk reports.
~ 19. Eormwer's R~6t to Re~late. Notwithstanding 1_ender s accekration of the sums secuted by this Mortgage.
~ Borrower shall have the right to have any proceedings hegun hy Lender to enforce this Mortgage discontinued at any time
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