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1_cn~ler's written agn;ement or applicable law. Borrower shall pay the amount of all m~rtgage insurance premiums in the
manner provid~~l under parag~aph 2 hereof.
Any amaunts disburscd by I.enJer punuanl this paragraph 7. with inter~st Ihetecin, shall become additianal
in.kbtednesc ~i( E3~irrowrr secured by this Mc~ngage. Unle.c Bnrrower anJ I.eoJer •rgree to Mher tertns of payment, ~uch
amounts shall he payahle u~o nulicC from l.cnde~ lu Borrowr~ reyi~ting payment thcreof, and chall bcar interest fmm ihe
datc of disbursemcnt at the ratc payahlc from timc to ~ime un outstanding principal under the Note ~nlesc payment of
interest at such rate would !+e contrarv to applicable law, in which event such amau~ts shall bear interest at the highest rate
permissible under applicable law. N~?thing contained in Ihis paiagraph 7 shall require 1.ender to incur any experise or take
any action hereunder. ~
8. Inspeefioa. l.ender may make or cause ta tx: made reaeonable entriec u{x~n and inspectionc of Ihe Property, provided
that Lender shall give ~rrower notice priur lo any such inspection specifying masonable cause thercfor related to l.ender's
inlcresl in thc Pmpcrty. "
9. Condemn~tion. The pnxeedc of :in~• award or claim for damaees, dircc~ or rnncequential, in rn~nection with any
condemnation or other taking of the Pn~perty, or parl thereof, or for comeyanre in lieu of condemnation, are hereby assigned
and ~hall t+c paid to i_cnder.
In thc event of a total takine of thc Pro~+crly, thc pnkceds ~hall hc applicd to ~he sums securcd by thic Morigage,
with the excecs. if any, paid !o Borrowcr. ln thc cvcnt of a partial taking ut the PropertY, unlec~ Rorrower and Lender
rnhenvize agree in writing. therc shall he applied t~ the wms .ecurc.l hy thi~ Martgage such pmportion of the proceeds
as ic cqual ta Ihat pro~riion which thc am~~unt ~•f thr eum~ urured by Ihic ?~i~Ngage immediately prior to the date of ,
taking hears to the fair market valuc of Ihe Pro~x:rt~• immcdi:itcly prior t~ the date of taking, with the halance of the proceeds
paid to Borrower. .
If the Property ic abandoned by Borrower, or if. after notice hy l.ender to Borrower that the condemnor offers to make
a~ award ~r settle a cl~im fi~r dama~~~. B~~rrower faih rc~~x~nd tc~ I ender within 30 da~'s after the date such notice is
mailed. Lender i~ authorized to rnllect aod apply ~he procecdc. at Lender's option. either to restoration or repair of the
Property or to the sums sccured by this 1?ior~eage. ~
Unlesc l.ender and Bormwer Mhen+•icr agree in N•riti~e. an~~ surh applicati~n of pr~eeds to principal shall not extend
or poslpone the duc date of the momhl~• inctallmcnts rcfe~red to in paragrapht 1 and 2 hercof or change the amount of
such installments.
10. Borri?wer Nut Rele9sed. Extension of the time for pa~~ment or mc.dification of amortization of the cumc secured
b)~ this Mortgage granted by I_ender to an)• cuccetiwr in intrre~t of Borrov?•er ~hall not operate to release. in any manner.
the liability ~f the original BorroH~er and B~rrow•er't succes.orc in interest. l.ender chall not he rcquired tc? commence
pn.ceedings ag:unst such suttetsor or refuce to erRn~l time for payment or otherw•i~e modify amqrtization of thc ~ums
secured by thic Mortgage by mason o( am~ dem•rnd madc b~• the orieinal Rorrower.and Borraw~ers successorc in interect. ~
11. Forbesronce 6} i.ender Not a Wai~er. Anv fc~rtxa~ance b~~ l.ender in erercising am~ right ar remedy hrre~~nder, or
otherrvise afforded hy applicahle law. shall not tk a waiver of or preclude the e~ercise of am~ such right or remedy_
The procurement of insurance or the paymcnt of tares ~~r Mher liens or chargrs by I.ender chall not be a u~aiver of Lender s
right tc~ accelerate the maturity af the indehtedne.s ~ecurcd hy thit Mortgage.
12. Remedies Cumulative. All rcmedies pm.•ided in thic Mortgage are distinct and cumulative ta any other right or
remed~• under this Mortgage or afTnrded hy law ~.r eyuity. anJ m.i~• he exerciced rnncurrcntly, independend~• or successively.
13. Snecessors and Assi~ns Bound; ]oint and Se~~eral i.iability: Captions. The covenants and agreements herein
contained shall hind, and the riRhts hercunder shall inure to. the rcspective succec,orc and assignc of Lender and Borrow•er.
subject to the provicion~ of paragraph 17 hercoL All ro~~cnants anJ agreements of BorroH•er shall he j~int and several.
The captions and heading~ of the paraeraphc ~.f thic hinrtgage are for convenience only and arc n~~t t~ he used to
interpret ar define the provisiont hcrcof.
14. Notice. Except for any notire rryuircd under applicable IaW to be given in another manner. (al am• notice to
Borrower provided for in this Mortga~e tihall be givrn h~• mailing such notice b~' certified mail addressed to Borr~w~er at
the Property Address or at ~uch uther addrc~. as Bormw~er mar de~ienate b}• notice to .i_ender as pmvided herein, and
(b) any notice to Lender shall tx: given h~• certified m:~il. retum receipt reque~ted. to l.ender ~ address stated herein or to
such other address as Lender ma}• deeienate bc nnticr Bormw~er as pm~~ided hercin. Any notice pmvided for in this
~tartgage shrll be deemed to ha~~c txen gi~•en to B~rro~crr or Lrnder w•hen givcn in thc manner designated herein.
15. Uniform MortRa~r, Governin~ i.aw; Se.~erabilih•. Thi~ form of mortgage combines uniform covenants for national
use and non-uniform corenan~s w•ith IimiteJ variati.~ns M- jurisdirtion t~ constitute a uniform security instrument rnvering
i rcal property. Thi~ Mortgagc shall tx: em•erned h~• ~hc law• of thc j~risdiction in which thc Property i~ located. In the
~ event that any provision or clau~e of thi~ !11ortLaec the Ne~te conflicts w•ith applicaMe law~. sunc ~onflict shall not affect
i other provisions of this Mortgage or the Notr ~hirh ra~ F+e gi~~en etTect ~vithoat the conflicting pmvision, and to this
~ end the provisions of thc Mortgagc and thc ti~,tc_ arc .Icclarcd to he severablc.
~ 16. Borrovrer's Copy. Borrow~er shall tx furni~hed a c~+nf~,rmcd copy of thc Notc and of thie Mortgage at the time
E of cxecution or aher recordation hercof. _
~ 17.. Transfer of the Propert~~: Accumption. If aU i~r am• part of the Pn•pert~• or an interest therein is s~ld or transferrcd
by Borrow•er without I_ender's prior w~ri~~~n ~onu;nt. r~cluding lal the crcation of a lien or encumbrance suhordinate to
thit :4lortgage. Ib) the creahan of a purrhau me~nec ~ecurit~~ interest fe•r househalJ appliances. (cl a transfer h~~ devise.
descent or h~• operation of la~~ upon the Jcath of a j~nnt tenant or (d~ the grant of am~ Ieasehold interest of thrcc ~•ears or Iess
~ not containing an option to purchase. Lrnder ma~~. at Lrnder's option. declare all the sums secured h~~ ~his Morteage to be
immediatel}• due and payablc-. i.rnder thall ha~•e ~+:~ivrd tiu~h option to accelerate if. prior to the ~ale or transfer. Lender
~ and the person to whom the Property i~ to be tol.l or transferrcd reach agreement in w•riting that the rrcdit ~~f wch perx~n
ic satisfactory to I.ender and that the interr.t pa~~able on the sums ucured b}' thic Mort¢age shall be at surh rate ac I.ender
~ shall request. If I.ender has waived the option to accelerate provided in this paragraph 1?. and if Borrower's successor in
interest ha~ executed a written assumption agreement accepted in w•riting by i.ender. I_ender shall releace Barrower from all
~ obligations under this Mortgage and the Note. •
If i.ender exercises such option to accelerate. I_enJer ,hall mail Borrow•er notice of acceleration in arcordaner ~ith
~ paragraph 14 hereof. Such notice shall provide a~ric~cl of not Iess than 30 da}•s from the date the notice is mailed within
which Borrower may pay the sums declared d~~e. If Borro~er fail~ to pay such sums prior to the expiration i.f euch periud.
Lender may, without further notice or Jemand on Borrower, im~oke an}~ remedies permiued h}• paragraph 1R hereof.
~ Notv-Utv~FORtH Covex~rv-rs. Borrower and I.ender farther rnvenant and agree as follows:
18. Acceleration; Remedks. E:cept as pro~~ided in pars~raph 17 hereof, upon Borrowe~'s bnach of any covenant or
agreemcnt of Borrower in tbis Mortgage. includi~ t6e covenants to pay when due aay sums secured 6y this Mortgage. I.ender
- prior to accekration s6a11 mail notice to Borrower
as provided in pars~nph 14 hereof specifying: (1) the breach; (2) the action
~ requind to core suc6 breach; (3) a date. not kss than 30 days from the date the notice ~is mailed to Borrower. by which suc6
" breac6 must be cured; and (4) Ihat fstilure to curc such breach on or before the date specH'ied in tbe notice may resolt in
accderation of t6e soms secnred by thic Mortgage. foreclowrc by judicial proceeding aad sale of tbe Property. 71~e notice
~ shaq furiher inform Borrower of the right to rei~tate after acceleration and the right to assert in tbe forec{osurc procKdi~
~ the non-existence of a defauN or any other defense of Borrower to accderation and forecbwn. if tbe breacb is not cured oa
~ or beforc the date specified io the notiice. Lender at I.ender's option may declare a0 of the sums secured by this Mortgage to be
~ immediatdy due aod psyable nit6out fuAher demand and may toreclose t6k Mortga~e by judicial proceediu~• Lender shall
be tatidsd to coUect in soc6 proeeedi~ all e:penses of foreclosuro. includiu=. bnt not limited to, rca~onable altorney's fees.
~ aod costs of docnmeatary evidence, abstracts and titk reports.
19. Eorrower's Ri~6t to Reinst~e. Notwithstanding Lender s acceleration of the sums secured by this Mortgage,
~ Borrower shall have the right to have an~~ proceedin~es begun hy I.ender to enforce this Mortgage discontinued at any time
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