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I.endc~'s writtcn agrecmcnt or applicabk Ivw. Borrower shall pay the amount of all mor~gagc insurance premiums in the
manne~ providcYi undc~ paragraph 2 heroof.
Any amounts disbursed by Lc~der pursuant to ihis pa~agraph 7, wi~h interest therec?n, shal) bccome additianal
inJebtedncss of Borrowcr secur+cd hy thic Mart~age. Unle~s Barrawcr anJ I.cnJer agree to othe~ terms af payment, such
amc~unts shall be payable upcu? n~~tice from Lende~ ta Iiormwer requesting payment thcreof, and shall bea~ interest [rom the
Jatt af disbursemcnt at the rate payahk fmm time to time on cxUstanding principa) under Ihe Note unku payment of
interest at such rate would t~e rnntrarv to applicable law, in which event such amounts shall hear i~ter~t at the highest rate
pertnissiAle under applicable law. NMhing contained in this paragraph 7 shall require i_ender to incur any expense or take
any action hercunder.
8. laspectioa, l.encier may make or rauu: to he made reasc~nable entries upon and inspectionc of the Pmp~:vty, providcd
that l.enekr shall give Bnrrower nolir~ priur to any such inspection xpeci(ying rcasonable cause therefar related to I.ender's
interest in Ihc Property.
9. Coademaation. The prcxcedc af any award or claim for damages, direct or rnnuquential, in connectian with any
condemnation or other taking of the Property, or part t?~ercof, or for conveyance in lieu of ccx~demnation, are her+eby assigned
and shall he paid to l.ender.
In the event of a t~~tal takinQ of thc Pmpcrly. the prckceds ~hall tx: applied to the sums sccured by this Mottgage.
wiih the ercess, if aoy, paid to Borrower. ln ~he evenl of a parlial taking of the Property, unlesc Rormwer and I~nder
- athtnvise agree in writing. there ah:~ll he applied to the sums securcJ bp this Mortgage such proportion of the proceeds
as is equal to that pro~rtion w•hich the amount af ~he sumc ~cured by this Mortgage immedialely prior to the date of
taking bears to the fair market val~M of the Pn~Fx:r~y immediately prior to the date of taking, with the balance of ihe proceeds
paid to Borruwer.
1f the Property ic ahandoncd by Borrowcr. or if. after noticc hy I.cnder to Barrower that the condemnor affers to make
an award or settle a claim for Jamagr~„Borrc?wcr faik tu r~~~nd to I ender within 30 days after the date such notice is
mailed. Lender ic authorin~d to collect a~d ~pph• the proceeds. at I.ender'c optian, either to restoration or repair of the
Propcrty or to the sum, cccurcd b~~ Ihi~ 1Nortgaec. ~
Unlesc I.ender and Bormwer Mhetu~ice agree in writine. any such application of prexeeds to principal shall not extend
or postpone the duc dale of thc monthh• installm~nts rcfcrrcd to in paragraphs 1 and 2 hereof ar change the amoimt of
s~ich installments.
~ 10. BoROwer Not Released. Eztension of ~hc timc for payment o~ modification of amortization of the sums cecurcd
by thix Mortgage granted by l.ender to any cureecu~r in intrrecl of Borrower shall not operate to rclease, in any manRCr.
the hahility of the vriginal Borrow~er and, &•rrow•cr'. succesuxe in interest. LenJer shall not he requircJ to rnmmenre
proceedings aga~nst s«ch sucressor or refuce to ertend time for payment or otherwi~ modify amortizati.~n of thr ~+~ms
secured by this Mortgage by rcason of :~m• demand made by the orieinal BorroNer anJ Barmwers sucressors in int~reu.
11. Forbearance by i.ender Nof a Waive~. :1ny f~.rhearancc hy l.ender in exercising any right or remedy hercunder, or
otherwise afforded hy applicable law. shall not he a w:~iver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of tares or other liens or charges hy l.ender shatl not be a waiver of I_ender s
right to accelerate the maturity af the indehtednecs cecurcd h~~ thic I?iortgage.
12. Remedies Cnmulatire. All remeclies pm.•ided in thic Mortgage are distinct and cum~dative m an~• other right or
remeJy under this Mortgage or alTordeJ h~~ law or equity. :~nd ma}~ he exercised eoncurrcnUy. independenth• or s~icce~sivel~~.
l3. Snccessors and Asci~ns Bound: ]oint and Sereral i.iability; Captlons. Thc covcnants and agrecment~ hcrcin
contained shall bind, and the riRhts hercunder shall inurc to. the rcspective successon and assigns of i.ender and Bormw•er.
subject to the provis,ionc of para¢~aph 17 hcrcof. All rnvcnants anJ agreements of Borrovver shall he j~~int and ~everal_
The captions and headings of the paraEraph~ c.f thic 114ortgage are for comenience only and are not to }x uced to
interpret or define the provicion~ hereof. .
~ 14. Notice. Except for any notice r~yuired imd~r applicable law to be given in another manner. (a) am- notice to
Borrower provided for in this Mortgage ~hall he givcn b}~ mailing such notice hy certified mail :iddresud to Borm~~~er at
the Property Address or at siich other addre~. as B~.rr~?wer ma~• decignate M' notice to I.ender as pro~•ided herein. and
(h) am• notice to Lender shall he gi~•cn h}• cenificd mail, retum receipt requested. to 1_enders address stated hercin or to
such other addresc as Lender ma~• de~ienate h~~ n~tirr t~. Bormwer as pro~•ided hercin. Any notice pr~vided for in thi~
Mortgage shall bc deemcd to havc txtcn gh~cn to B~rroH•cr or Lcnder whcn given in the manner designated herein.
15. Uniform Mo~t~a~e: Co~ernin~ I.aw; Se~~erabilih•. Thic torm of mortgage rnmhines uniform covenants for national
I use and non-uniform co~~enant~ with limited variations h~• jurisJiction to constitute a uniform serurity instrument rnvering
; real property. This Mortgage shall he gmerned h~• the law of the juris~iiction in v?~hich the Properiy is located. Tn the
i event t6at any provision or clauce of thic Mortgage ~.r the Note canflicts aith applicable law, such rnnflict thall not affect
{ other prmisions of thi~ Mortgage or thc Note whicfi can- tx gi~~en effect without the rnntlicting pmvi~ion. and to this
( end the provicions of the Mortgage and the '~lole arc Jeclared to he severable.
~ 16. Borrower's Copy. Borrow•er shall M: furnitihed a conformed copy of the Note and of this Mortgage at the time
~ of e?~ecoteon or after recordation hereof.
17. Transfer of the Propert~~: Accumption. If ali or am• part of the Pn,perty ar an interest therein is sold or trancferrecl
by Borrower w~thout Lender's prior W~rit~~n ron~cnt. r~cluding (a1 the crcation of a lien or encumbrance suhordinate to
e this Mortgage. (bl the creahon of a purcha.~ m~~ne~• ~ecurity interest for household appliances, (cl a tran~(er h~• devise.
~ descent or by operation uf law• upon the death c.f a joint tcnant or (di the grant of am• leasehold interest of thrcc }~carc or le~s
not containing an option to purchase, I.endcr ma~•, at 1_rnder'e option. declare.all 1he sums secured M~ ~his ]~lorigage to t?e
immediatel~• due and payable. I.ender ~hall ha~r Nai~•rd such opti~n to accelerate if, prior to Ihe sale or transfer. i.~n~er
and the person to whom the Propert}•~i. t~~ fn :ol.l or transferrcd reach agreement in writing that the credit ~~f w~h pcrcon
ic satisfactory to Len~er and that the intcrr.t payable on tfic sums secured by this Mortgage shall be at such rate a~ I.rnder
shall request. If Lender has waived the option to accelerate prrn~ided in this paragraph 17, and if Borrower'> >urcessor in '
~ interest has executed a written assumption agreement accepted in writing by i.ender, LenJer shall release Bormwcr fmm all
~ obligations under this Mongage and the Note_
~ If Lender exercises such option to. acceterate, LenJer shall mail Borrower notice of acceleration in accorJancc hh
paragraph 14 hereof. Such notice shall provide a pericxf of not less than 30 days from the date the notice is mailed v?•ithin
which Borrower may pay the sums declared due. 1( Borrower fails to pay such sums prior to the expiration of tiuch peri~xl,
Lender may, without further notice or cicmand on Borrower, invoke any remedies permitted by paragraph I~ hercof.
~ Norr-Urt~FORnt CovErt~HTS. Borrower and 1_ender further covenant and agree as followr
= l8. Acceleration; Remedies. E:cept as provided in para~raph 17 hereof, upon Barrower's breach of aoy covenaat or
~ agreemeat of Borrower in this Morta~e. iacludin~ the coveaants to pay wheo dne any som~ secared by thts MoriRsge. i.ender
prior to accderstbn s6a8 mail notke to Borrower as provided in para~rapl~ 14 hereot specifyios: (1) tbe breacb; (2) tl~e action
~ required to cate sec6 bnac~; (3) a date, not le$ t6an 30 days fmm t~e d~e the ootice Ls ma~led to Borrower, by ~shich sucb {
breach mnst be cored; and (4) t6at failure to cure such breach on or betore t6e d~te speci5ed io ihe notice may result in ~
~ accderatioo oE ttie sems secnred br this Mortgage. foreclosurc by jndicial procetdiu~ and sale of tbe Property. 'Il~e notice
~ s6aU furtber inform Eorrower of the ri~M to rei~te after sccckratioa and t6e rig6t fo as~ert io the foreclosure proceedin~ ,
. tbe oontxastence of a defauM or aay other defense of Borror?er to accekntion and forecfosvrr. !f tl~e breaca is not cared oo ;
or before the date speci6ed ia t6e nMice. [.ender at I.ender's optjon may dechre a9 of We sams aecored by t6is Mort~aRe b be
~ immediately due and payabk withoat further demand and may foreclose t6b Mort6age by j~dicid proceedi~. I.ender chall
be ~tiyed to collect ~u soc6 proceedin6 aU expenses .~f foreclosure. iacludioa, bet not limited to, reasoaa6le attorney's fees.
~ aed costs of doceoeotary evideuce, abstr~cts and titk reports. ~
~ 19. Borrower's Ri~bt to Reiaeiate. Notwithstanding I.ender s acceleration of the sums secured by th~s M~rtgage,
~ Sorrower shall have the right to have any proce~:dings tx~gun hy I.ender to enforce this Mortgage discontinued at any time ;
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