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t.rnder's written ag~ement o~ applicabk law. Borrower shall pay the amount of all morigage insurance premiums in the
man~er providcd under paragraph 2 hereo(.
Any amounts Jisbursed by i.cnder pursuant to this par~g~aph 7, with intenest thenon, shall become additional
indcbledness of Borrowcr secured by this Mottgage. Unlecc Bo~rower and l.enJcr agroe ta olher ternns of payment, such
amcx~nts shall be payable upon no~ice fmm Lender to Bnrmwcr rcquesling paymcM thereot, and shall bear interest from Ihe
date of disbursemc~t at the ratc payahle trom time tn timc on aUstanding principal under the Notc u~less payment of
interest at such rate wouid be cont~ary to appticable law, in which event such amaunts shal! bear interest at the highest rate
permissible under applicabk law. Nothing contained in this paragraph 7 shall requirc l.ender to incur any expetae or take
any actio~ hertu~~r.
8• Iospectioa. t.ender may make or cause to Me made reaconable enlriec u~n and ~nspections o[ the PropeKy, provided
that 1_enck~ shall give Bc?rrower notice pri~~r te~ any such inspection specifying rcasonable cause thercfor related to I_e~der's
intcrest in the Property.
9. Coademnation. The proceed~ ot any award or claim for damaces, direcl or co~sequential, in connectian with any
condemnation or other taking of 1he P~operty, or part then-of, or for conveyance in iieu of condemnation, are her+eby assigned
and shall !se paid to l.ender.
In Ihe event of a total taking c~f thr Pcopcrty, the pnxceds ~hall bc applied ta Ihe sums secured by this Mortgage. •
with the eYCecc, if any, paid to Bc~rrowe~. In thc event of a partial taking of the Property, unlecc Borrower and Lender
otherwise agree in writinR. there shall he applied to thr eum~ secured b}• thi~ Mortgage such proportion of !he proceeds
as is equal to that propnrtion x•hich !he amoun~ ~~f the sumc secured hy this Morigage immediately prior to the date of
. taking hears ta the fair market ~aluc of ~hc Pm~rty immcdiatcly prior to the datc of taking, wilh thc halance of the proceeds
paid to Borrower. • -
If the Property is abandoneJ hy Borrower, or if_ after notice bv t.ender to Bormwer that th~ contlemnor otfers to make
an award nr settle a claim for damage~, Borrower fails to r~~~nd to I.ender wilhin _l0 days after the date such notice is
maded. I.eneier ic authorized to ca)Iect and apply the proceeds, at I.e~der's optian. either ta restoration or repair of the
P.opern+ or ta thr sums sccurcd by this Mortgagc.
Unles~ Lender and Borrower othenrise agree in K•riting. any such application of proceeds to principal shall not extend
or p~xtpone the due date of the monthly inxlallmcnts nfcrrcd to in paragraphc 1 and 2 hercof or change the amount of
tuch inslallments.
10. Borro~+er Not Rekased. Extencion of thc time for paymcnt or modification of amorti7ation of the sums secured
• by ~his Mortgage grantect by l.ender to any surrecse?r in interect of Borrower shall not olx:rate to release. in any manner.
the liahiliry of the original Borrower and Bormw~rr'~ successorc in iMeresl. l.ender shall not he required to commence
procecding~ :~gainst such successor or refuse to ettend time for payment or othen+•ise mc~dify amortization of the ~ums
tecurrd by this Mortgage by reas~~n of am~ demand made by the oriQinal Borrower and Borrowers succesuzrs in interecl.
1 i. Forbearance by i.ender Not ~ Wai~•er. Any f~.rhearaerc by I.cnder in etercising an_y rigM or remedy hereunder, or
otherwise afiorded hy applicahle law. shall not br a waiver 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 by 1_ender shall not he a w~aiver af i.ender's
right ta ac:elerate the matu~ity of ihe indebtedness u:curcd hy thic Mortgage.
12. Remedies Cnmulatire. Al! rcmediec provided in this Mongage are distinct and cumulative M any rnher right ~r
remeJy under this Mortgage or aRordrd hy law or ryuiry. and may be exerciseJ concurrcntly. independently or succeaivcly.
13. Successors and A~ns Bound; ]oinl and Sereral i.iability; Captioas. "Tl~c covcnants and agrcements herein
contained shall bind, and thc righf~ hercunder shall inure to. the rcspective successorc and accigns of I.ender and Borrower.
subject to the provisionc of paragraph 17 hereof. All rnvcnants and agreements of Barmwer shall be joint and several.
"i~e captians and heading~ of the paraeraph< <.f ~hie Mortgage arc for rnnvenience only and are not to he used ta
intcrpret or define thc prmisionc hcrcof_
14. Nolice. Except for any nofirc rryuirrd under ~pplicahle law• to be given in another manner. (a) any ~otice to
$orrow~er provided tar in this Monga~e shall he given h~• mailing such notice by certified mail addressed to BormH•er at
the Property Address or at such other aJdres: as B~.rre?w•er m~~~ de~ignate b~• notice to I.ender as provided herrin. and
(b) any noticc to Lender shall tx gi~~cn h~• ecrtificd mail. rctum reccipt requested. to I.ender's addrest statcd herein or to
such other address as i_ender ma~• de~ie~atc br n~~tice ta Borrower as provideJ herein_ Any notice pmvideJ for in this
M~~rtgage shall be deemcd to havc txcn gi~~cn to B~rmw•cr cer I_rndcr w~hcn givcn in thc manner desigoated herein.
15. Uniform Mort~;a~e; C.o~•ernin~ I.a.s: Se.~crabilih-. Thi~ form of mortgage rnmbines uniform covenants for nationat
use and non-unifarm rovenanls with limite~l ~ariati~n~ h~• juri~dicti~~n to constitute a unif~rnn securit~~ instri~ment rnvering .
real ~ropertt'. Thic Mortgage shal! be govrrned h~• the !a?+• of the jurisdiction in which the Pmperty i~ Icx:ated. In the
event that an}~ provi~ion or clauk of thi~ Mortgace ~•r the tii.te rnnflicts Mith applicable law. such conflict shall not affect
other pro~•isions of thit Mortgage or th~ Nutr .+hich r.~n h~; given efiect without the conflicting provi~ion, and to this
end thc pro~~isions of the Mortgage and thc \~~tr arc Jrclarcd to be severable.
16. Borrower's Copy. Burmw~er ~hall hr furni,heJ contormed cop~• of the Note and of thic Morteage at the time
of execution or after recordation hereof.
17. Transfer of the Property; Acsumplion. If all ~~r am~ part of the Pri~perty or an interest thercin is soid or trancferrcd
by $orroµ~er without Lender c pri~r aritlrn cuncent. r~rluding fa) the rreation of a lien or encumbrance suhc~rdina[e to
thic ldortgage. Ib> the creabon ~f :i ~+ur~ha~ m~mr~~ srrurit~• interest fc.r household applianrc~. (rl a trantfcr hp deeise.
descent or hy operation of law• upon the dcath i~( a ju~nt tcnant or ld~ the ¢rant of any Ieasehold interest ~f thrcc ~•rars ~r less
~ot containing an option to purchase. I.ender ma}•, at Lender'< <~ption. dectare aR the sums secured hr this Rlortgage to be
immediateh• due and payahlc. Lender shall ha~~e k~i~~cd .urh option to accelerate if. prior to the .ale or ~ransfer, l.ender
and the perscin to whom-the Property i. t~, be ~o1J ur tr~nsferrrd reach agreement in w~riting that the crcdit c.f such person
ic satisfactor}• to I_ender and that the inter=.1 pa~~~ble on the sums tecured M• this Mortgage shall be at such rate at t.ender
shall request. If Lender has waived the nption to acceler~te pmvided in this paraeraph 17, and if Borrow~er i successor in
interest ha~ executed a written assumption agreement acrepted in writing hy I.ender. 1_enJer shall release Bormwer from all
obligations under this Mortgage and thc Note.
If i_ender exercises such option to acceleraie. I.ender ~hall mail Borrower notice of acceleration in a~cordanc~ w i~h
paragraph 14 hereof. Such notice shal( provide :t pcrioJ of not less than ?0 day~s from the date the notice is mailed within
which 8orrower may pay the sams derlareJ due. !f Borrowcr faik to pay such sums prior to the expiration ~.f wch peri~xl.
Lender may. without further notice or dcmand on 6orruwcr_ im•oke an}• remedies permitted by paragraph 13 hercof.
NoH-UrrtFOeM Covex~Nrs. Borrower and I.ender further covenant and agree as follows:
18. Accelerat'an; Remedies. Eacept as pro~~ided in psra~roph 17 hereof. upon Borrower's breach of any covenant or
agreement of Borrower in fdts Mortgage. includi~ the covenants to pay when due any sums secored by this Mortgage. Lender
prior to acceleration s6a11 mail notke fo Bomower as provided in paragraph 14 hereof specifyiog: (l) the br+each; (2) the sution
required to cure soc6 breset~; (3) a date. not lesc fhan 30 days from t6e daie the notice js majled to Borrower, by which sucb
breach mwt be cnred; and (4) tbat fAilurc to curc such breac6 on or before the date specH'itd in Ihe ootice m~y resdt ia
accderation of tbe snms secnred by thic Mortgs~e. forcclosure by judicial proceedio~ aad sale of the Property. 'ILe notice
shali further infono Borrower of the rigM to rei~tate after secekration sind the right to assert ia the forccbsnre proceedi~
the non-e:istence of a defaok or any other defense of Borrower to accderation and foreclosure. If the bresc6 is not cnred oa
or befun the dste specified io t6e notice. Ixnder at I.eader's option may declare all of t6e sna~s secured by this Mortgage to 6e
immediately due aad payabk withont furiher demand and may foreclose thk Mortga~t by jodicial proceediu~. Lender shall
be entitled to colkct in snch Proceedi~ all e:pcases of forecbsnrc, iaclndius, but sot limited to, rtasoaable attoreey's fees.
and costc of docnmentary ~ridence, abstrs~cts and titk nports.
19. Borrower's Ri~6t to Rtiostate. Notwithstanding l.ender s acceleration of the sums secured by Ihis Mortgage.
Borrower shall have the right to have any proceedings begun hy l.e~der to enforce this Moftgage discontinued at any time
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