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l.cnder's writtcn agn:cmcnt or applicable law. Bo~rowe~ shall pay the amount of all mortgagc imi~r:,nce prrmiums in the
manncr pmviJcd undcr paragraph 2 hereof.
Any amounts dishu~scd by Lcn~lcr purcuant !o this paragraph 7, with intcrest thcrcon, shall lxri~mc additi~nal
inJeb~ednes~ af Borrowr~ secured hy this Mortkage. Unle.~ Bo~rowe~ and I.~nJer agr~Y to oth~r terms of payment, such
amounts shall he payaMc upc~n n~~tire from Lrnder to Borru~~•rr rcyucsling pa~~mcnt thereof, and shall hear intcrest fmm the
date af disbursement at 1he rate payahle from ~ime to time on outstanding principal under the Note unlesc payment of
interest at such rate woul~l t+e contra~y ti~ applirable L~w, in W~hich event such amoun~s sh:?II hea~ intereat at ~he highest rate
permissible under applicable law. Nrnhing cont.~ined in this paragraph 7 shall requirc I.ender to incur any ex~n~ or take
any action hcrcunde~.
8. Inspcctioa. l.cndcr ma~~ makr or rau,c to F+c madc rcaeonahlc cMrice upun and incpection~ of Ihr Pr~~{x rty, pmvidcd
that 1_ender chall giv~ Rorr„w~r n~~~~.c pri~~r :~n~• w4h insrectian c{xcif~•ing rcasonahle cause therefor related tc? l.ender's
intcrestin the Pmpcrty.
9. Condemnatbn. The prekced~ uf :im~ a~card or claim fc~r ~lamages. direct or concequential, in connection w~ith anr
condemnation or other taking of the ProEx;rty. ~.r part there~•f, ~~r for c~~m•e~•an~e in !iru ~f ~.^•.^.demnatie~n, are herebY atcigned
:ind shall be paid to l.ender.
In thc event of a total takine of ~he Pmp~rl)•. thr ~+r~,~~c.ls chall tx applic~l to thc ~ums ~curcd hy t'~i; ~1~~rtgaFe.
with the c~ccss, if any, paid to Borrc~w•cr. In Ihc cvent ~~f a partial t:iking ~~f the Propertr, unlecc R~rri~w~r and 1.ender
~~therwice agrce in writing. there shall be applied tc. thc wmc cecum~l b}• thi~ MortkaLC such proportion of the prcx~eeds
as ic equ:~l to that pm~rti~n w'hich the amount nf ~he sum~ ucurcd b~• thic \t~rtgage immediatel~• {~ri~~r ti~ the date of
taking txars to the fair market value of the Pro~xri~~ immediatrly priar to the .late of ~akinQ. with the balance ~f the proceeds
paid to Borrower.
If the Property ie aband~ncd b~• Borrow•cr. or if. aftcr nc.ticc h}• l.cnder to Borrow•cr that the condemnor oficrs to make
an :~w~.~rd or cetUe a claim f~r damage+. B~~rrow•er f:~il, t~• rr.~x~nd to Lender within 30 da}~s after the date +uch ni~tice is
mailed. i_ender ic authorized to collect and appl~~ the pn.c:cede. at l.ender c o~tion, either to restoration c~r repair ~f the
Properl~• or to the sums secured br this Aic?rtgaec.
Unlesc l.rnder and Borro~~er otherH•i~c aerec in ritim_. am• ~uch application of prcxeeJe t~ principal chall not e~tend
or Fx~ctp.me thc due datc of thc monthlv installmcnts rcferrcd to in p:uaeraphc 1 and hercof or chan~e thc amount of
such installments.
10. Borrowe~ Not Releaud. E~tcncion of thc timr for pa}•mcnt er modifir:itii~n ~.f :?mnrti7ation ~f thc ~um~ srrurcJ
by this Murtga¢c grantcd by Lcndcr tr am• cuccc~u~r in int~rc~t of Rorrowcr ~hall nc.t ~jk;ratr to rclcacc, in any m~nncr.
the liability of the ariginal Borrower and Bormw~cr'. surcee~ur~ in interest. Lcnder ~hall not h~: rcyuired t~~ c~~mmencc
pr~ceedings against cuch succ:essor or refuce to e~tend time fnr payment or othen+icc mc?dif~• am~•rtizahon c~f thr ~unu
serured by thi~ Mortgage b~• reason of anc demand made b~ the orieinal Rorrawer and B~~rrow•er s eucr~..~~r, in intere~t.
11. Forbea4ance by Ixnder ~ot a R'ai~•er. Am forFx:aranre M• Lrnder in e~ercising c~m• right or remed~~ hcreunder, or
otherwise afforded by applirahle law, ehal) n~~t tx a waiver of i~r preclttde the c~ercice of ant• such right ~r remedy.
The procurement of insurance or the pa~•meM ~~f ta~ec or other liens or charges b~• Lender thall not he ~~aivrr ~~f Lender's
right to acccleratc thc maturity of thc indeMcdnesc .c~und M• thi~ Mortgagc.
12. Remedies Cumulative. All remedics pr~~•ided in thic ~lortgage arc distinct and cum~ilati~~c t~ anc ~~ther right ~r
remedy under this Morteage or afiorded M~ la~~• i•r eyuin•. anJ ma~• he exercised c~~ncurrcnN~~_ independenth~ ~~r viccecsivel~ .
13. Successors and AssiRns Bo~md: Joinl and Several I.iahilif~; faptions. Thc covcnants and agrecm~nt~ herein
contained shall bind,. and the rights hercunder sh~ll inure to. the rcspective succe~wrc and astiigns of LenJer and Borro~rr.
subject to the provision~ of paragraph 17 hereof. :111 covenants and agreement~ i~f BorraHCr shaif he i~~~nt :~nd se~~cral.
"il~e captions and headings of the paraer:iph~ ~,f thic Mortgage are for convenienre onl~• :~n~l are n~~t t~+ Fx u~ed M
interpret or define the provisi~~n~ hercot.
14. Nofice. Except for any notirc reyuircd under :~pplicahle laa t~? F+e given in another manner. (a) :+n}' notice tc?
Bormaer provided for in this ~lortgage shall tx ei~'~n h~~ mailine ~uch notice h~~ rrrtified m:~il .?ddreti,cd tr R~~rr~~.vrr at
~ the Properly Address or at such other attdrc~. :~s R~~rn~wer ma~• deaignate bc n~~lice tc~ l.endcr as pnn•id~d hcrcin. and
; (b) an~~ notice to LenJer shall he givrn b~~ certificd mail. retum receipt requected. t~• 1 ender'~ adJrees statrd herciiz ~r to
~ such other address as I_ender m~} de.ignate b)~ n~~ticc t~. B~rn~wer as pm~•ided herein_ :~m~ notice pr~,v~de.i for in this
f Mor~gage sh~ll he deemed to ha~~c t?een giren ro B~rr.~uer or Lcnder H•hen gi~~en in the manner designated hcrein.
° 15. Uniform Morl~a~e; Governin~ I.aK: Severabilih. Thi~ f~rm of mortgaec rnmbines uniform covenantc for national
~ . .
use and non-uniform co~~enanlt with limite~l vanahon. h~~ jnris~liction to constitute a uniform securih• in~trumcnt a~vering
~ real propert~~. This Mortgage shall tx guverned h~~ the 1~K~ of the juris~liclii.n in w~hich th~ Pro~m~ i~ I~xated. ln the
~ event that an}• provision or cla~ise of thic MnrtgaLr ~~r ~h~ Ivute rnnflicta with applicable la~•. such ron(lict shall ncu affect
? ather pro~~ision. of this Mortgage or the N~~tr ~hirh ran t,~ giv~n effect ~~~ithout the conflieting pro~~i~iiin. :~n~l to this
~ end the pro~•isions of ~he 114ortgage and thc ti~~tc arc Jcclared ta he severaMe_
F 16. Borrower's Copy. BorroH~er tihall tx furni.hcJ a e~~nformed cop~~ of thc NMe and ~f thi~ Mortgage at the timc
` uf execution or aRer recordation hereaf.
~ 17. Traasfer of tht Propert~~; 4ccumption. If all ~~r ~m part of the Pra~xrt}• or an interect therein is ~~~ld c~r transferred
by Borrower without Lender's prior w~rittrn concem, e~~luding lal the ereation of a lien or encumhrance cuMinlinate t~~
' this Mortgage. (bl the creation of a purchac~ m~mry .ecurilv interest for househoW appliances. tc1 trantfen c~ devise.
~ descem or by operation of law• upon the Jeath c~f a iuint tenaitt or (di the grant ~.f am• Icatch~ld interest of thrcr cr:~r~ or lece
~ not containing an option to porchase. [.ender may. at Lrnder'. option, declare all the sumc secured h~~ this ~t~~rtgagr t~~ he
~ immediately due and payable_ I.cnder shall have .~:+i~~~d ~uch option to accelerate if. prior to the ~ale i~r transfer. La n~er
~ and the person to whom the Proper~y i, to be solJ rr transferred reach agreement in writing that thc credit of ~urh ~xrs~n
ic satisfacton~ to I_ender and that the imere~t pa~~able on the sumc u:cured h}~ this Morteage ~hall be at su~h rate a. I.rnder
~ shall request. If I.ender has waived the opti~~n ta accelerate pm~~ided in this paragraph 17. and if Borr~w~er'. ,u~cess~r in
interest has exeeuted a written assumption aereement acccpted in w•riting by LenJer. 1_ender thall relea~e B~~rro«•rr from all
k obligations under this Mortgage and the Note.
If I_ender exercises such option t~ acrelera~~ l.rnder tihall mail Borrower notice of acceleration in arcc.rdan~r ith
paragraph 14 hereof. Such notice shall provide a Fx:riixl ~~f nat Iess than 30 days fmm the date the notice is mailed uithin
~Y which Bormwer may pa}• the sums Jeclared due. If R~rro~er (ails to pa}• such sums prior tc? the expirati~n of curh ~~ri~xf.
~ Lender may, without further noticc or Jemand on Korrower. invoke an~~ remedies permitted h~• paragraph IQ hercof.
~3 Notv-UxtFOaM CovEx~NTS. Borrower and Lender further covenant and agree as follows:
~ 18. Accelerat'an; Remedies. Exce~t as prorided in para~raph l~ hereof. upon Borrower's breach of any co~enant or
agreemeat of Borrower io this Mortga~;e. includin~ the co~ensnts fo pay when due any sums secured by this Nort~age, Ixnder
prlor to acedentioa shaU mail notice to Borrower as pro~•ided in paragraph 14 6ereof specifyiog: (1) the breach; (2) the action -
required to curc such brcach; (3) a date, not lesc than 30 days from the date the notice is mailed to Borrower, by which such ;
- breach must be cnred; and (4) that failure to cure such breach on or before the date specified in the notke may result in
accekration of t6e snros secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property. "Il~e notice ~
shall further inform Botrov?er of the right to reinsfate after acceleration and the right to assert in the foreclosurc proceeding '
the non-e:iste~ce of a default or aay other defewse of Borrower to acceleration and foreclosurc. If the breach is oot cured on
or before the date speciGed in the notice. Lender at I.ender's option mpy declare ap of the snms secured by thts MortqaRe to be
;~"i immediatdy dut aod payable witboul further demand and may forcclose t6~s Mortgage by judicial proceedi~. Lender shall
':i be eotided to collect in snc~ proceeding a(1 e:peases of foreclosurc, includi~, but not Bmited to, reasonabk attorney's fees,
and costs of documentary evidence, a6stractc and titk reports.
~ti 19. Eorrvwer's Rig6t to Reiastate. Notwithstanding l.ender s acceleration of the sums secured by th~s Mortgage.
:Y Borrower shal{ have the right to have any proceedings begun by t_ender to enforce this Mortgage discontinued at any time
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