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l.ende~ i w~itten ~grezmcnt or applirable luw. Burrower shall pay the amuunt ot 'U mortgage insurance pt~emiums in the i
manner pruvided under pAragraph 2 hcreof. ;
Any am~~unts dichursed by I.emler pursuant to Ihis parrgraph 7, wi~h interrst thereon, ahal) become additional ;
inJebtednrss uf Borrowcr secumd h~• this Mortg~ge. Unic.s Born~NC~ anJ I.rnJcr agrce to other terms of paymeM, such
amounts shall be payablc u{x~n nuti~-~ f~om [.cnder ta Borrowcr reyucsling payment thercof, and shall bear interesl from the
date of disbursement at thc ratc payablc from timc to time on outstanding principal under the Note unless paymeM of
interest at such ~ate would be contrary t~~ applicable law. in which event cuch amounts shall t+ear interest at the highest rate
permiuihle undcr applicable law~. N~•tfiing a~maincd in this paragraph 7 shall rcquire I.ender to incur apy expense or take
any action hereunde~.
8. laspection. t.ender may make ~u cau~c t~~ he made rcatonable cntriec uM~n and inspeclionc of the Property, provided
that l.ender shall give Borrower notir~ p~i~~r tc~ ~ny xurh ins~~ion s~x.~cifying rcasonable cause therefor related to I_ender's
interes~ in the Pmpeny. .
9. Condemnation. The pnxeedc of am• award or claim for dama~c~, direct or concequrMial, in rnnnection with any
condemnatian ar other laking of the Pro~xrty, or part thercof. ~x fc~r conve~•anre in lieu of condemnatian, are hereby assigned
and shall be paid to i_endcr.
in lhe event af a total takine of tM: PmM:rI)'. th~ pnkccd< <hall bc applied to Ihe sums sttured by thic Mortgage.
with Ihe crccss, if any, paid to Bormw•cr. ln ~he ev~nt of a partial taking of the Pmperty, unlecc Borrower and I_endcr
otherw•ise agree in writing. therc shall he applicd t~ the wmc secun:J h~• thic Mortgage such pmportion of the proceeds
as is cqua) to that pm~+c~nion Hhich thc amount ~.f thc sumc xcurcd b~~ thic. Atortgage immediately prior to the date of
taking bears to the fair market valuc of thc ProFxrt~~ immcdiatcl~• prior to the date of taking, with the balance of the procetds
paid to Borrower.
lf lhe Property ic abandonc~ hy B~xrower, ar if. :~ftcr no!ice M• I.ender to Borrower that the condemnor offers to make
an award or setNe a claim for damagc.. B~rrow•er faik ~u rec~ond to Lender within ?0 days after the date such notice is
mailed. I.ender ic authorized to collect ane~ appl~~ the proceeds, at I.ender c option. either to restoratian or repair of the
Propeny or t~ thc sums cccurcd by this M~atgagc.
Unlesc LenJer and Barrower othen+•ix agree in ~~ritine. am• surh appfication of prcxeeds to principal shall not extend
or postpone thc due date of the monthh~ im~allmrntc rcfcrrcd to in parac~aphc 1 and 2 hereof or chan~e the amount of
cuch installments.
10. Borrower Not Released. F~tenci~n of the time for payment or mc~diftrati~n c?f amortization of the sumt securcd
by this Mortgage granted b~• I.enJer t~~ am• ~ucce~wr in intrre~t of Borcower ~hall n~~ o~x,rate to release. in any manner.
the liahilit}~ of the original Borrow~er and Barrow~cr'~ succc~tiurc in interest. l.ender shall not be mqoired to commencc
proceedings against such successor or refuse to e~tend time for payment or otherwi.e modif}~ amortizatic.n of ~hr wms
secured b~• this I?iortgage hy rcacon of :~m~ demand made b~• thr orieinal Bormwer and Borrower s succeccc~rs in intere~t.
11. Forbesrance by I.ender Nof a Wai~•er. Am f~rtkarance b~• Lender in ererrising any rigM or remedy hereunder, or
otherwise afforded hy applicahle law, th:~ll n~t be.a w~aiver of or preclude the exercise of an}~ such right or remedy.
The procurement of insurance ar the payment of ta~es or other liens or charges by I_ender shall not he a waiver oF l.ender s
- right to accelerate the maturity of the indebtednecs terured hy thit I~tortgage.
12. Remedies Cumulative. All reme~liet pr~~vidcd i~ thic 1ltortgage are distinct and cumulative to any other right or
remeJy under this Mortgage or afT~~rdcJ h~~ la~r i.r cyuit~•. anJ ma~~ he rxerciud concurrcntl~~, independentl~• or successiv~t~•.
13. Successors and AssiR~ Bound; loinl and Se~eral 1.iability; CapNons. The covenants and agreements herein
rnntained shall hind, and the righh hercunder ~h:+ll innre to. the respective succeti.ors and accigns of i.ender and Bormwer.
subject to the provisions of paragraph 17 herrof. All cm•enants and agrcement~ af Borrov?•er shall hc joint and ce~•eral.
'il~e captions and headings of the paragraphc ~~f this Mortgage are for convenience only and are not t<~ tx: «sed to
interprct or define the proviainn~ here~f.
14. Notice. E~cept for any n~~~icc rcyuircd under :~pplicable law to be gi~~en in another manner. (a) any notice to
Borrower provided for in this :Nortga~e til~all Fx ei~•rn by mailing tuch natice b~~ certified mail addressed to Borrow~er at
the Property Address or at such uthcr ~ddre~c as Rnrn?w•er ma~~ designate M• n~tice to Lender as provided herein. and
(b) am~ noticc ~o Lcnder sha11 h~: given h~• ccrtifx:d m:~il, rcium receipt requested. lo I.ender s addresc stated~ hercin or to
such o~her address as E_ender may de~i¢nate b~~ n~~tirr t~~ Borru~ver as pro~•ided hen;in. Any notice provided for in this
{ Mortgage shall be deemed to ha~c M;cn gi.•en to B~rrowcr or 1_~nder when given in the manner de:ignated herein.
{ 15. Uniform MorlRa~e; Go~•ernin~ iaw•: Se~~erebilih•. Thi~ form of mongage rombines uniform covenantc for national
I use and non-unif~.rm r~~renants Hith limite.i ~•ari~tionc h~• juri~Jirtion to constitute a uniform securit}• instrument covering
€ real propeny. Thic Martgage shall tx. eovcrned h~~ the la~• of the j~risdiction in which the Propert} ia located. In the
( event that any provision or claiiu: of thi. Mortgage ~~r thc Nate cc?nflirts ~aith applicable law. such conflict shall not affect
~ othcr pro~~isions of this Mortgagc ur thr N~~tr Nhich r.~n hc givcn cfTcct without the conflicting pmvision, and to this
~ end the provisions of thc 111ortgagc and thr ti~~te are .Icclared to he severaMe. _
~ 16. BoROw•er's Cop}•. Borro~~er ,h:ill tx furni.he~l a c~~nformed copy o( the Note and of thi~ Mortgage at the time
~ of exeaition or after recordation~hercaf.
~ 17. Tr~nsfer of the Propert}: Assumption. If ali ~~r an~• part of the Propertt~ or an interest thcrein is s~.ld or transferrcd
~ by Borrower w•ithout I.ender's prior ~~rittrn ~onunt. c~cluding (al the creation of a lien or encumMranre subordinate to
~ this Mottgage. (b) the creatian ~f a purrhau~ mnnr~~ cecurit~~ interest for househc~ld applianees, fcl a transfer h}• de~~ise.
descent or by operation of law• upon thc dcalh i~f a jomt ten~nt or ldi the grant of an}• leasehold interest of thrce ~~rars or less
~ not containing an option to purchase. Lender ma~•, at 1_ender', ~,ption. declare all the sum~ secured hy this Mortgage to f+e
immediately due and payable. [.ender shall h:~vr Hai~~rd ~uch option to accelerate if. prior to the sale or transfer. I_ender
and the person ta whom the Propern• ic tc~ Me :oIJ ~~r transferrcd reach agreement in writing that the credit of such per~c?n
is satisfactory• to Lender and that the interc.t pa~ahle ~~n the sums Secured hy thic Mortgage shall be at such rate ac I.ender
~ shall request. If l.ender has waiveJ the op~ii~n to accelerate provided in this paragraph 17. and if Bnrrower's succesu~r in
~ interest has executed a u~ritten assumption rgreement accepted in K•riting hy I.enJer. Lender shaU release Borrower from all
obligations under this Mongage and the Note.
~ If Lender exerrises such option to acceterate. Len~er ~hall mail Borrower notice of acceleration in accordancr ~ ith
~ paragraph 14 hereof. Such notice shall provide a~xri~~d c~f n~~~ less than 30 days from the date the notice is mailed within
which Borrower may pay the soms declareJ due. If Borrowcr fails to pay such sums prior to the expiration of sach periocl.
~ Lender may, without further notice or demand on Bnrruwer. invoke an}- remedies permitted by paragraph 13 hercof.
~ Nox-UxtFOnnt Cove~~NTS. Borrower and Lender funher covenant and agree as follows_
- l8. Accekratioo; Remedies. Eacept as pro.ided in paragraph 17 hereof, upoo Bormwer's brcach of any coveaant or
agreemeot of Borrower in 16is Mortgage, induding t6e co~enants to pay when dae any sums secnred by thts Mort~age. Lender ;
~ prior lo sccekratbo sball mail notice to Borrower as provided in parsgraph 14 hereof specHying: (1) tbt breach; (2) the action .
requind to cure such bnach; (3) a date. not lesc thpn 30 days from tbe date tbe notice Ls maikd to Borrower, by ~rhic6 suc6 ;
y~ breach must be carsd; aad (4) ttwt failurc Io cure such brcach on or before the date specified ia the notice may resdt in
~ aecekratioo of the sa~ mured by this Mortgaqe. foreclosun by judlcial proceedf~ and sale of tbe Pmperty. 77~e notice
~ shall further inform Borrower of the right to rcinstate after accekration and the right fo assert in t6e foreclasure proceedin~
~ t6e aoa-e:istence of a default or any other defense of Borrower to accekration and forecbsurr. if the bre~ch ~ not cnred oa
or before the dste specified in the notice. I.ender at [_ender's option may declare a~ ot the snm~ secnred bp t6Ls Mortga~e to 6e
~ immediately due and payabk without further dem•rnd and may foreclose this Mortgaae by jndicid procetdit~. Lender shall
~ be entitled to collect in soc~ proceeding all e:peases of foreclosurc, including, but oot limited to, rea~ooable attoraey's fees.
~ snd costs of doceroentary evidence. abstracts and title reports.
~ 19. aorror?er's Rig6t lo Reinststa Notwithstanding Lender s acceleration of the sums secured by this Mortgage,
~ Sorrower shall have the right to have any proceedings begun hy l.ender to enforce this Mongage discontinued at any t~me
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