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l.endcr's w~itlen agn.~cme~t or appiicablc lew. Borrower shail pay the amount of al) mortgage insurance prcmiums in the
ma~mer providcd under pa~ag~aph 2 hercof.
Any amounts dishurscJ by LenJcr punuant to this paragraph 7, with intctest thcreon, shall becomc additional
indeMed~csc ot Borrower secured by ~hic Mon~•rge. Unle~c Borrower anJ LenJer agn.~c ta other terms of payment, such .
amounts shall be payahlc u{x~n notire from I.cnder to Borrow~r reyues~inR paymcnt thereof. anJ chall hrar inte~est from the
date of disbursement at thc ratc payaMc (rom time to time ot? outstanding principal under the Nate unlect~ payment of
interest ~t such rate waulcl be contrary to applicable taw, in which eve~t ~uch amounts shall hea~ interat at the highest rate
~?ermissibk under applicable law•. N~~thing containeJ in this paragraph 7 shall require I.ender to incur any expense or take
any action hereunder.
8. laspeetioa. i.enJer may make ~•r cai~.e lo he mack rea.c~nable ~~triec u~xm and inspectiant o( the Property, provided
that l.ender ~hall give Borrower ni~lirc pri~~~ ta an}~ such inspeclion cpecifying masonable cause therefor related ta Lender's
intcrccl in thc Pmpcrty.
9. Co~drmnatbn. Thc pr~x~~cci. uf :~m~ awa~d or claim for damagcs, direct or concequcntial, in connection with any
condemnation or othcr taking of thc Pr~~pcrty. ur part thcrcof, ~~r far romcyance in licu of condcmnation, are hereby asaigned _
anJ chall be paid to I.ender.
In the event of a tota) h~king of tlx: Pmperty, thc pnkceds ~hall hc; applieJ to ~he ~ims securcd by thic M~rtgage.
wi~h the ercecs, if any, paid to Borrower. In ~he event <~f a parlial Iaking of Ihe P~operty, unlesc Borrower and I.ender _
~?~herwise agree in writing. therc shall he applied t~• the wmc secured b~• thic Mor~gage such pmportian of the proceeds
~s is equat to that pmportion Nhich ~hc amour~t uf thc cum~ ut~ured by thie Mortgagc immediatel~~ prior to the date of
taking bears to thc fair markel vatuc of thc Pru~rty immediatcly prior to the date of taking, with the balance of the proceeds
paid to Bormwer.
If the Properly ic al~andoncJ b~• Borrow•cr. ~~r if. aftcr no!ice M• Lender to BoiTOHCr that the condemnor ofiers to make
an award or cettle a claim for d:ima~r~, B~~rroaer fail. 1~~ rc~pc?nd t~ I ender w•ithin 30 days after the date such notice is
mailed. Lender iti aulhorized to collect and apply thr prc.ceed~. at I.ender's option, either to restoration or repair of the
Pmpcrty or to thc sum~ ~ccurcd M thi~ \1~rteacc. ~
Unless 1_ender and Borrrn+•er otherv?•ic~ agre.: in aritine. an~• such application of prcxeedc to princip~l ~hall not extend.
or pcxtpnne the due date of the monthh• inaallmcros refcrrcd to in paragraphc 1:~nd 2 hercof or change thc amount of
such installments.
10. Borrower Not Releaud. F.xtencion of the time f~x payment or modificati~n of amortization ~f the sumc srcured
hl this Morteage granted hy I ender ro am• wcce«or in intrrr.t of Borro~•er ~hall nc?t operate to rclca"se. in aey manner.
the liahilitp uf ~he original Bormwcr and B~~rmH•rr'. surcccc~~rt in interest. I.ender chall not he mqi~ired to c~mmenrc
pn.ceedings against cuch si~crecsor or refuu t~ e~tenJ time for payment or otherai.e modif}• amortizat~~~n of thr ms
se~urcd M• this Mortgagc by rcacon ol :im• drmand madr bv thc ~rieinal Bur~uwcr and R~~rmw•crs succcs~orc in int~rc~t.
11. Forbearance by I.ender \ot a N'ai~e~. -~m f~~nc~aranra: M• l.rnde~ in c~erciain¢ any right or remcdy tiercunder, or
otherwise afTorded by applicable law_ shall ni~1 he a wai~~er of or preclude ~he exercise of am~ such right or remedy.
Thr procurement of insurance or the p~yment o( ta~~~ or other liens or chargcc M• I.ender sh~ll not he a w aiver ~~f Lender s ~
right t~ accclcratc thc maturity of the indchtcdnr~s ~rurcd h~~ thi~ 111ortga¢c.
12. Remedies Cumulative. All rcme~lies ~rrn•id~d in thit Alortgage arc distinct and cumidative to :~n~~ rnher right ~r
remedy under this Mortgage or afiordcd h~• la~v ar eyuit~•. and m•r~~ be exerciceJ concurrcntl~•. independenth• ar succecsi~•eh'.
13. Successors and Assi~as Bound; Joint and Se~er~l I.iability; Captions. The co~~cnants and agrecments hcrein
rnntained shall bind, and thc riehtc hereunder shall inurc t~~. the recpective succe~sor~ and ac~ignc of 1_ender and BormK'cr.
subject to the pmvisions of para¢raph 17 hercof. :~II co~•enants and agreements of Borro~-er shall he j~int and ccveral.
The captions and headings of Ihe paragr.~ph~ ~•f ~hi~ !1lortgage arc for convenience onl~• and arc not t~~ he ~i~ed ?o
interpret or define the provieion~ hereof. .
14. Notice. Excepl for any ni.~i.e rcyiiir~d under :~pplicable law• to be given in anather manner. (al am• notice to
Borrower provided far in this :Nort~a~e tihall Fn gi~•rn h~• mailing tiuch notice h~• certified mail addre~ced to Bormw•er at
the Property Addrecs or at such uther addrc<. as B~~rr.~wer ma~• de~ienate M• nc.~ice tc. I.ender as pro~~ided hercin, and
(bl any notice to Lender shall F•~ ci~~n h~• rertificd m.~il. r~turn receipt requested. ~e. i enderc addresc stated herein or to
such other address as Lender ma~~ d~~ignate h~~ n~tire ta B~rn•uer as prmided herci~. Am• nMice pr.~vided for in thic
:4tortgage shall be deemcd to ha~c M.-cn L~~cn to B~rr~~wcr ur Lcnder wficn given in thc manner designated herein.
15. Liniform MortRa~e: Co~~ernin~ I,a..; Se~errbilih•. Thi~ f~rm af mortgaee comhincs uniform rnvcnants for national
use and non-uniform rn~enant~ w~ith limite.l ~~ariationc M- juri~diction to constitute a uniform securit~• instrument covering
real property. Thi~ '.4lortgage shall tx governed M• th~ law of the juricdiction in w~hich the Propert}• i~ located. in the
j event that any provision or clau~e of thi; A~(11'!_L'8Yl ~~r the 1~~tc conflict~ yith applicahle law_ such conflict shall not afTect
` other pruvisions of this Mortgage or the ti~?tc ~hi~h ran 1?~ gicen e('Fect without the rnnflicting pmviaion. anJ to this
` end the pra~•isions of the Mortgage and the `~~te are .Ircl~rcd to he ceverable.
16. Borrower's Copy~. Borm~•er ~hall t?r furni.hcJ a conk~rmed rnp~- of the Note and of thic Mortgage at the time
~ of e~ecution or after recordation hereof. '
~ 17. Tr~nsfer of tbe Property~: Assuniplion. If aK ~~r anc part of the Pr~~pert~• or an intercst therein i~ sold or transferrcd
by Borrower without Lender's prior writr~n ~~~n.~nt. e~rluding (al the crration c•f a lien or encumbrance subordinate to
thic :Nortgage. (h1 the creahon of ~ur: te:~.~ m~~ne~ ~ccurit~• mterest for household appliances, (cl tran~fer h~• devise. .
~ descent or by operation of law~ upon the Jcath of ~ i~~~~?t tcnant or (d~ the grant of am' Icasehold inierest of thrce }~cars or lccs
~ not containing an option to purchase. I.ender ma~~, at Lrnder'. option, declare all the sums secured h}• this ~Iortgage tc. t+e
immediatel~~ due and pa}•aMe. Lcnder thall h:~~r ~~:~n~d ~uch option t~ accelerate iL p~ior to the ~ale or trancfer. 1_ender
I and the peru~n to whom the Propert}• i, hr .ol.l ~~r tran•(erred reach agreement in writing that thr cre~li~ ~~f ~urh Ex:non
~ is satisfactory to Lender and that the intrrr.t pa~~able on the sumt serured by thic Morteage shall be at such rate ac I_ender
shall request. If I.ender has waived thr option to accelerate pmvided in this paraeraph 17. and if Bormwer', +ucce~sc~r in
interest has executed a written assumption agreemem accepted in writing bp 1_ender_ Lender shall release Borrower from all
obligations under this Mortgage and the Nate.
If I_ender exercises such option to acrclerate. Lender tihall mail Borrower notice of acceleration in accord:mc~ ~~h
paragraph 14 hereof. Such notice ~hall pravide a peri.xl of not lest than 30 da}~c fmm the date the notice is mailed w~i!hin
which Borrower may pay the sums derlare~ due. If BorroHCr [ails to pac such tumc prior to the erpiration ~~f curh ~xri.al.
Lender may. without further notice or dcmand on Borrower. im•oke any remedies permitted h}• paragraph 1S hercof.
~ NON-UNIFORM CO~~ex~tvrs. Borrower and I.enJer further covenant and agree as follows:
~ 18. Acederatan; Remedks. Except ~ pro~ided in paragnph 17 hereof. upon Borrower's breach of any corenant or
A agreement of Borrower in f6ts Mortg~e. indudi~ the co~enants to pay whea due any so~ns securcd by thk MortRagt. I.ender
z prior to accekration s6aU mafl notke to Borrovrer as provided in paragraph 14 hereof spccifyio~: (1) the breach; (21 the action
} riquired to cure suc6 bresch; (3) a date, not less than 30 days from the date the notice is maikd to Borrower. by which such
r brcach must be cured; and (4) tlwt failure to curc such brcach on or before fhe d~e speci6ed in the notice may result in
3 accder~ation of tbe sums secared by tbis Mortgage. foreclosure by judicial proceedin~ and sale of tbe PropertY. 'Il~e notice _
~ shall furtder inform Borrower of the right to rcintt~te affer accckrntion and t6e reg6t to assert in the foreclosure pmceeding
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t6e non-existence of a defaaN or any other defense of Borrower to accekratioo and foreclosnrc. if tbe breach is not cured oa
~ or beforc the dste speci6ed io the notice.l_ender at t.cnder's option may declare a8 of t6e sn~ secured by this Mortgs~e to be
~ immediately due aad paysbk without further dem:,nd snd m~v foreclose tbk MortEa~e by jodicW proceediu~. T.en~er chall
~ be entided to collect ia suc6 proceedi~ all e:penses oi foreclosurc. includio~, bot not limited to. rcasonabk att~,rnry's fees.
~ aad cosfs of docnmeotary erideoce, abstracls and titk reportc.
~ 19. Borrower's Ri~ht to Reiostste. Notwithctanding I.ender s acceleration of the sums secured by this Mortgage.
- Sorrower shall have the right to have any procecding. txgun hv I.ender to enforce this MortEtage discontinued at any time
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