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I rn.1~t'~ ~~nitcn .~grcrm~nt or appli..~hir I:~w. N~~rru~~~i ~hati pat ~hr ani,~u~u :iU tn~~rt~;a~r in,u~.,n:r prrntium, ~n th~
mannrr {~r,~~•iclr.l undcr p:~r,~graph ? hrrcrl.
s•1nti :~nu,unl~ .ii.hurcrd M• 1 rn.trr pui.;~:~nt thi. {~.~r.~e~;~~,h ~~~th ant~r~N Ih~rc~~n. .h;Jl hr:~~m~ additu~nal
iml~hr~~iter.~ ~~f R~~rr„~~~~~ ~«ur~•d h~ Ihi~ ~I~~r~L.~cr l'nl~.. N~~rn~~~~~ ami 1.•nJrr a~r« t~~ i~tE~~r lcrm~ „1 pa~~m~nt. .u~h
anu~unh .h:,ll tk pa~•ahk u{w~n rn~~~:r ±rom 1 rn~lrr t~~ I1~~rr,~N.•r rryur.tinc p.~cmrnt,lhcreuf. :y~.! .h:il{ i.rar int~•r~.t fr,~m thc
~laic i~f ~ti.h~inrmcnt at thr r:str r:~cahlr fr~+m tin~c tn timr ~,n c?u~ct.~ndine prinC~~l undcr ~he I~oto unlc~. pa}~mcnt of
inl~rccl :~1 surh r.~tr ~~~ul~l t?c c.~nlr:n~ t~~ applirablc la~v. in ~+hi.•h r~•cnt euch amoums ~h:?11 tkar intcrcct at thc highcct ratc
{x~m~scihlc und~r :~~~i~~;~t,i~ la~v. n~~thing contained in ~hi~ par:IgfBF?F1 ~I ehall rcquire Lr~der to incur any e~{k:nse or take
an}' action hcrcundcr.
8. losprrtion. Lcr~~tcr n~ar m.~l,~• ~,r ~ae~:c 1~~ Fx madr rcatianahk rn[rict u~am and impcctian< <~f thr P~o~xrt}~• pn~~•idcd
that 1 enJcr ~h:ill gi~~c B~~rroHCr nuti~c ~~i.~r to ;~nr ,uch inc{kctiun ~pccif~•ing nasonable cau.c thcrrf~~r ~rl;?tcd N~ ( endc~'c
imcrr~t in the Pn?~rty -
9. Condemnatbn. Thc ~r~~ecd~ uf am• aw;~rd or rlaim fe~r elamaces, itirec~ ar c~~meyucntial. in rannec~ion H•ith am•
rondemn:ttion or e~ther takine ~~f the Property. ~~r part therrnf, or for r~~nveyance in lieu of condemnatiun. arc hcrch}• at~igned
and ch'all 1+c paid to l.cnder.
in ~he r~•ent of a t~~tal taking ~,f the Pro{kn~•. thr pro~cedc chall tk ~pplied ta the wmc k~ured hy ~hi. Mortgage.
v?ith thc ~~~c.s. if am~, paid ti. 8orrrK•cr In thc c~•rnt of a parti~! taling i~f the Propert~~, unk~c R~rmHer and i:cnder
otherwi~e agree.in uri~in1. there shall he applied to the ~uma ~ecurcd h~ tfiic M~+rt~:~ge ~uch {•roM•rtion ?hr ~~roceeds
~s ic equal to that pro~x~rti~.n ~~hi.h the amount the sumc .ecur~d h~• ~hi. ~torfea~e imm~diatel~• prie~r t~~ th~ date of
taking txart to the fair markrt valuc of the Propcrt~• immeJiatcl~ ~ri.~r to thr date ~+f takine, t+ith the h:~tanre of thr pr~.r~cds
paid tu Borro~ver.
If the Pmpert~~ is ~hand~ned b~• Borm«•er, ~r if. after n~ticr M• I endcr to B~~rn.w~cr that th~ condemnor ~fTers to make
an :~ward or settle a rlaim for dama~e,, Aormwrr fail± ri.~x~n~! t.~ I.cndc~ within i0 da~~, aftcr Ih< <iai~ c~irh n~~ti~e ic
maited, l.ender i~ authori7cd to collect and apply the p~c~cecds. at l.ender ~ option. cither to re~toration ~r rcpair of the
ProFxnt~ or t~ the sum..rcured hr this Mortgage.
1_'nlet. Lendcr and Borro~+rr othcnviu: agrec in_~~ritine. am• su~h appli~atii~n ~~f pro:ccd~ t~~ ~+rinri~.~l ~h:~ll n~t r~tend
or rx~.tponc thc du~ cia~~ of Ih~ mrnithl~~ installm~ms r~ferrrd tu in raraerarh. I and ? hen~~f ~.r ch:uic~ thc am~~i~nt of
,uch installmtntt. ~ ~
10. 8orroN~er Nut ReMaced. F~tcnsion of the tfmr f.~r pa~mrnt ar m~~ciifi~ati~~n ~.f amarti~atic~n ~~f th~ ,ume ~rcund
M~ thic M.•rtcag~ granted b~~ I.ender t~~ am• ~ucce~sur in intrrc.t ~~f Rc•rrmver .hall nnt ~~ratr 1~ r~leace. in an}• manner.
~he liahilit~• ~~f thc origin~l Borr~~~~cr and Bormw~cr'~ su.re~.nrc in intcrec~. Lcnder ~hall n~~t t?c rcyuircd t~~ c~~mmeorc
pr«ce.lingc a~ainct euc6 succets~~r ar rcfu~e to eeten:l tirne f~~r pa~•ment or othen+ite mcxiif~~ amorti~ati~~n r( the sums
~«urcd ht• thi~ ;11o?tgagc h~• rcac~.n ~.f :~m• dcmand m~d~ h~~ ~hr ~~ri£inal. Borr~n~~er and R~~rr~~~•cr's aur.r~corc in intcrcct.
11. Forbearance bv i.ender :~ot a R'aive~. :~m~ f~•rFxaran~r h~• 1~ndrr in c~crcisine an~• rieht rr remcd~• hrn~mdrr, or
~~thtrwis~ :dTurdcd h~• applicahlc law. ~h:~ll m~l 1?c a wai~•rr i~( ~~r prcciudc the r~crcisc of an}~ .uch ri~ht ~~r remed}'.
Thr prcx-~iremcnt of insurancc or thc payment ~d t;~~c< <~r «ther lien. or chargrc M• I.rndcr .hall not hc ~.;~i~~er ~~f I cn.ler's
rieht tet accrlrr:~tc the maturiti• ~.f thc indcMcdnr., ~r,urcd h~~ ihi.'.1lortgagc.
12. Remedies Cumulati~•e. :~11 remedirc ~+m~ided in thi~ \Ic,rteaee arc dictinct and rumulati~•e tc. :?m' ~~thcr rieht ~r
remed)~ imdrr thi.'1lnnga~;~ nr afT.,rd~d ht• la~r ~~r cypit~•, and ma~ ix e~erci~r~i cancurrenth~. independe~tl~~ i~r .ur:~esir•~1~.
13. Surcessors and Acsi~nc Bnund: Joint and Se~erat l.iabilih: t'aptions. The :o~enants and agrcrmcM~ hcrein ~
ro~~iaine~i chall hind. and thr rieht, hrr~und~r ~hall inurc to. tfir rr.~k:cti~~e •ur~e.tion an~ a~~igm ~~f 1_~nder :~nd R~,rr~,~?er.
subjcct l~~ Ihc prr~i.iOm i~f (+aragraph 17 hcrrof. :111 ~o~~nant~ a~td a~r«mcnt~ ~f $orro~~•cr sha(I Ik .j~~int and ~r~'cral.
Thc ~aptirn, :~ni1 hcading, i~f thc p:~ra~ra~h, ~f thi. iii•n~:~cc arr for c.~nv~ni~nce ~~nh• anJ arc n~•t t,. he uud tn
intcr~+r~t ~r dcfinc thr {?m~ itiic~nc ficrc~~f. -
I4. \~~tice. E~cept fur :im• noti:e myuirrd undcr ap~lir,~hlr la~? t~~ Ik ei~~en in an~~ther manner. (al :~m• notice to
Bc~rruwer pruviJcd for in Ihi. \1~~r~ga_e shatl fie gi~•rn h~ mailine •u~h m~ti~e M ~~rtificd mail :~ddre~ud t~~ Rorm«er at
th~ Prv~xrt}• Addre.. ~~r at wch uthcr :?Jdre.c as B.~rrc~.~cr ma~ Jr,iLn:~t~ hr n~~ticc t~ l.cn~lcr. as rro~•i.lyd hcrcin. and
Ihl :im nati~r t~? 1_rn~lcr .hrll hc C~~'l'R bt rrnifiril mail_ rrturn rr~r~~•t r~yut:ted. t~~ 1 cnder, ad~lrcc~ statcd hcrein or to
wch ~~thrr addres. :n I.ei?der ma~ dr~ienate M noticr B~~rrr.~.rr ac ~+n•~id~.l hrrcin. ~m~ ni~tice pn~~•ide~l for in thi:
~Ic~rtg:~ge shall hc Jeemrd t~~ ha~~c tnen ei~~rn to R~rr~~~vrr ur 1 ~nd~r ~~h~n gi~cn in the manncr ~ie~i~nated hcrcin.
15. l'nifurm ~1on~a~e: Go~•erninR (.aw: Se~erabitif~~. ~?hi. (c~rm ~~f mort~a~~~ <<~mhinrs unit~rm c~~~~cnant~ f~~r nati~nal
tIN'. :Ifltl rt~zrz-unil~~rtn cc»-~n:ll1l~ .~~i~h limitrJ ~~ariatiun. h~~ ~uri~~i~~ti~~n tr iisllSlltUIC 1 IIIII~Oftll cccurit~• in~~rn~ium c~.vering .
real p~~.~-rt}~. lhi: ~~OfIL:lY.C SF7:III ~lt' governed h~ the la~ ~+f thr iuri..6.t~~~n i~~ .chich the Property i. ~I~katrd. In the
c~•ent Ihat :tm' ~rovisi~~n ~~r rlauk uf thi. ~1c~rtLa~c ~~r thr ~„t~ c~~nlli~t. ~.ith arnficahlc I:?~. su~h c.,ntlirr ~ltalt n~,t atTect
~~Iher pr~~~~.i~.m of thi~ ?11i•r!~a~_< <~r the \`~~te nitiih ~:in tx• tiisett elTr:t »i!h~~nt Ihe ci,nlli.tin~ prm•i:i~,n. and to this ~
cRi1 Ih~ ~~n~vi.i~~t1~ ~~f tli~ ~1i~T[~•aL~ :~nd thi \~~Ir .~~c .hcl:trcd hC ~~~'tr.shh
16. Bom~wer's Cop~. Borro~~cr .hal! h~ fuini.hr~) :i ~~~nf~~rmrd ~„r~• .~f th~ \c~tr an~l i~f thi. ~i~~rtgae~ at th~ timc ~
.}f e~ecution or atter re:~~rd~tian hercof.
17. Transfer of thc Pmpert~; :1~sumption. If all ,~r :nn ir.rr~ ~~f the Pr~~~xrh• c~r an intercu th~rcin i. ~~~W or tranderred
h} Borrc~wcr ?~hh~~ut L~ndrr'~ pri~~r ~~rittrn c~~n.~nt. r~cluJing r.~? lhi crc:ui~~n ~•f a lieiz ~~r ~n~umhrar..c wFx~r.tinalc to
Ihi. ~1urtka~e. IM thr rrcatinn ~~f pur:h:~cu m~~ncc :r~i~rit~ ~nte~est f~~r h~~useh~.W appli:inr~ti. (cl a trancftr h~' devise.
Je~cem ~~r h~ ~.~rarion uf la~~ upc~n thc ~l.:~th ~~t a ir;nt Irnam i•r 1.1~ thr gram ~~f am Ic:~tche.ld irTterest ~ff thrce ~'cars ~~r less
not containing :+n .~~tiun ti, pcirrhase. 1 cnJer rna~. at 1 crt~er'. ,•pti.~n. de.l:~m all thr ~um~ ~ecurcd h~~ this \loriga¢e to be
imm~ili:~trh• doe and ra}•:?hlr. Lrnder ehall h:nr ~+:u.~J .u~h upti.~n t~~ accelerate if. prior to thc ~ak i~r transfer. I.cnder
ancl the ~r.~~n t~• wh~~m thr Pn,p~rtc i. t.• he ;r;~t .~r tr.~mfrrred rea~h :~~reem~m in Nritine that thi cre~iit of ~uch pers~n
i: s:?ticfacton~ t~, I.rnJ~r ~nd that thc intcrc.t ~a~.+hk ~~n tF?c wm. .rcurcd ht~ thi~ ~fort~aee ~haN be at surh rate as Lcnder
~h.~il reyo~tit. if 1 endrr ha~ w~zi~•c~ th< <~pti~~n t~~ a:rel~r~t~ prm~iJeJ in thiti p:~ragr:~ph 17. an~1 if Borr~~w•cr's ~~ccessor in
intcrect h:it esecutccl a a~riucn assum~+tion :?er«mem a~ccptcd in ~~ritin~ h~• Lender. Len~er thall relcace B~rrou~er from all.
ubligati~~n, undcr this ;N~rlgagc and thc N~tc. -
If I.cndcr c~crci.e. ~urh option t~~ accctcratr. Lrn.frr .h.~fl mail Rormw~r nutiec ~~f accelcratic?n in ~cc~rdancc v?~ith
paragraph 1~3 hcrc~f. Such noticc .ha!! providc a prri~~~l ,~f n~~~ Icsti than :~(1 Jayt fn~m thc datc thc nrnice i~ mailed w~ithin
«hirh Barr~~wer ma~~ ra~~ the sum~ deri:+red due. II Be~rm~+cr fails to pa~• curh ~umt pri~~r tc. the e~piration ~~f wch period.
t.ender ma~•. withnut furthet nMice r.r drmand ~~n lii~rn~wcr. in~.~kc am remedies permitte:i hc raragraph 14 hercof. .
I~'o~-U»~FOR+t Co~'F~+;~TS. B~rrower and I ender furthcr covcnant. and aerce as follows:
IS. Acceleration; Remedies. Fxcept as procided in pa~raph 17 hereof. upon Borrower's breach of an}• co~~enant or
~reement of Borrower in this'?tortRa~e. includin~ Ihe co~enams to pay when due an~• sums secured b~• this Mortgage, Ixnder
prior to ~ccderation s6a11 mail notice to $orroH~er as pro~•ided in paragraph 14 hereof specif~~ing: (1) the breach; (2) tbe aMion
rcquired to curc such breach; (3) a date. oot lesc Ih~n 30 dati•s from the date the notice is mailed to $orrower. by which such
bresch must be cnred: And (4) that failure to cure such bmach on or before the date specified in the notice may result in _
acceleration of t6e sums secuted by this ~1ort~;a~e. fonclosure by judicial proceedin~; and sale of the Property. 'I7~e notice
shall further inform Borro~+er of the ri~ht to reinstate atter acceler.rtion and the right to asseH in the foreclosure proceediug
the non-ezistence of z default or anv other defense of BorroMer fo accele~ation and foreclosure. If ihe breach Ls not curtd on
or before the date specified in the notice. Ixnder at t.ender's option may declare all of the sums secured by this Mortgage to be
immediately due and payable v.ithout further demand and ma~ foreclose this MortRage by judicial proceedin~. Lender shall
_ be entided to collect in such proceedin~ aN expenses of foreclosurt, incloding, but not limited to. reasonable attorney's fees.
and costs of documentarr evidence. ~bstracts and IiUe reports.
19. Borrower's Riqht to Reinstate. Notw•ithctandin¢ I_enJer't acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have an~~ proceedings heeun b}• I.ender to enforce this Mortgage discontinued at any time
80~( PAGE ~
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