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l.ende~'s written agreemeol or applirable (ow, Sorrowe~ shat! pay the amount of all mortgage insurance premiums in the
manner providc~i unde~ paregrapfr 2 heroof. .
Any amounts disbursed by I.ender punuant to this paragraph 7, with interest thereon. shall bccome additional
inriebtednesx of Bo~rower secumd by thic MoYtgage. Unle~s Bo~rovver anJ I.e~Jer agrce to other terms of payment. such
amounts shall be p~yable upcm no~icc irom t.cndcr to Borrowe~ reyuesting paymen~ thcrcof, and shall hear interest from the
date of disbursemcnt st thc ratc payahk from time to time on outstanding principal under ihe Note unless payment of
interest at such rate wauld be contrary to applicable law, in which event such amounts shall hea~ interest at the highest rate
permissible unde~ applicabk law. Nothing contained in this paragraph ~ shall requirc l.ender to incur any ezpense or tatce
any actio~ hereunder.
8. lespectba. I_endcr m:~y makc or causc to he madc rcacor?able cntriec upon and inspectionc af the Ptape~ty. provided
that I_ender xhall give Borrawer noticr pri~~r to ~~y such inspection specifyi~g reasonable cause therefor related to Lender's
interest in the Praperty.
9. Condemaafioo. The prcxeedc of am• award or claim for damages, dircct or rnnsequential, in connectian with any
condemnation or other taking of !he Property, or pan therrnf, or for ce~nveyance in lieu of condemnation, are hereby assigned
anci shall be paid to 1_ender. ~ .
in the event of a tolal taking of ~he Pmper~~•. the prckeeds chall he applied to the sums secured by thix Martgage,
with the excess, if any, paid to Borrower. in ~hc event af a partial taking c~f the P~operty, unless Borrower and I.ender
otherwise agree in writin~, there shall be applied tn the cumc sccurrd b}~ this Mortgage such proportian oi the procceds '
as is equal to that proportiun K•hich thc amount of thc sumc u~ured hy thic Mortgage immediately priar to the date of
taki~g bears to the fair market vali~c of thc Pmpcrty immcdiatcly pri~r ta the Jate of taking, with thc batance of the procceds
paid to Borrower.
1f ihe Property is abandoneJ by Borrow•er. ~r if. after notice h~ [_ender to Bormwe~ that the condemnor ofiers to make
an award or settle a claim for damagcs, Borrow~er fails to respond to I.ender wi~hin 30 days after the date such notice is
~ mailed. Lenck~ is authorized to collect and apply the proceedc, at I.ender t option.~ either to restaration -or rcpair of t?ie
Property or to the sumc s~~cured bt° this Mortgagc.
Unless I.endcr and Borrower atherwi~e agre~: in ~+ritine, an~• such applica~ion of proceeds to prineipal shall nat extend
or pc~s~pone the due date of thc monthly installmcnts rcfc~red to in paragraphc 1 and 2 he~af o~ change the amount of '
such installments.
10. Bomuwer Not Reteased. Fxtencion of the ~inte for pay~ment or modification of amortizatian of the sums secured
. by this Mortgage grantecl by I.ender an~• ~ucrccsor in intcrc~t of Borrow•er shall not o{x.rate to rclease, in any manner.
the liahi~ity of the original $orroH•cr and Bo~row•cr'ti succesu~rs in interest. !_e~der shal) not he rcqui~ed to commence
proceedings against such succetsor ar reiuce to erten~t timc for payment or othcrK~i~e mndify amoriization of thr sums
secured by this 1ltortgage hy reasi~n of an~• dcmand made b}• the ori¢inal Rormwer and Bormwer s succec~rs in intereat.
11. Rorbearance 6y I.ender Not a Waiver. :1m• forhearan~c h~• I.cnder in ecercising any right or remedy herconder. or
otherwise atiordeci by applicable law. shall not he a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of ta~es or other liens or charg~~s by I.ender thall not he a w•aiver of Lender s
right to accelerate ihe maturiry of the indehtedness secumd h~• this I?lortgage.
12. Retnedks Cumulati~e, All remcdies proridcd in this Tiortgage arc distinct and cumulativc to aoy other right ar
remedy tmder this Mortgage ar aftorded hy law or cyuity. and may be exercised concorrentty, independenN~• or succecsively.
" i3. Spccesso~s and AssiRps Bound; Joint 9ad Se~~eral i.iabifity; Captiores. The covenants and agreCments herein
; contained shall bind, and the rights bercunder shall inure to. the n.~pective succetu~rc and assigns af I_ender aod Borrower.
• subject to the provisions ot paragraph 17 hercof. All covcnants and agreements of Borrower shall be joint and several.
"Iltie captions and headings of the paragraphc ~f this Mortgage are for rnnvenience anty and are not to be uced to
~ interpret cir de~ine the provisionx herrnf. -
14. Noliet. Except for any noticc rcyuired under applicable law• ~o be given in anMher manner. (a) any notice to
Borrower provided for in this Mortgage sha0 he givcn h~~ mailing such notice by ccrtified mail addressed to Borroa~er at
the Property Addre~.c or at wch vther addresti as Borrower ma~~ designale by notice to i_ender as provided herein, and
(b) am• notice to l.ender shall he gi~~en by cer~ificd mail, retiim recCi~+t requected. ro I.ender s address slated herein or to
such other address as l.ender may decienate bc nntice to Bormwer as provided herein. Any notice pmvided for in this
Mortgage shall be deemcd t~ havc been gi~~cn ta &?rrow~cr or I_cnder w•hen given in the manner designated herein.
l5. Uniform Mort~~e; Go~ernin~ [.aw; Se.~erability. This form of mortgage combines uniform covenants for national
use and nort-uniform covenants with limited variations hv juricdiction to constitute a uniform secarity instrument covering _
real property. This Mortgage snal) he governed hv the law of the jurisdiclion in which the Property is located. In the
eve~t that any provision or clause o( thia htortgage or the Nate canflicts w•i~h applicable law, such conflict shalt not affect
other provisions of this Mortgage or the Note a-hich can be given effect aithocit the conflicting pmvision. arnd to this
end the provisions of the Mortgage and the '~Mc arc ~Icclared to he severable.
16: dorrowe~s Copy. ~orroN•c~ shall tx: furnisheJ a conformed copy of thc Note and of this ~+tortgage at the time
of exec~rtion or after recordation hereof. ~
17. Transfer of t6e Property; Assumption. if aU or an}~ part of the Pniperty or an interest thercin is sold or transferred
~ by Borrower without I~nder's prior wrin~n consem. excluding (al the cnation of a lien or encumbrance suborJinate to
this Mortgage, (b) ihe creation c~f a pur~ha~ mon~t~ ucurit~~ interest for household appliances, (c) a transfer hy devise,
descent or by operation of law• upon the dcath of a joint tenant or (J? the gram ot anp leaschold interest of [hre~: years or less
not containing an option ta purchasc, i.ender may. at Lender's option, declare aD the sums secured~by this Mortgage to be
immediately due and payable. [_ender shall have uaived such option to accelerate if, prior to the sale or Iransfer. lxnder
and the person to whom_the Property i~ ti, t?e sold or tr:~nsferrcd reach agreement in writing that the credit of wch person
is satisfactory to Lender and that the interrst pa~•able on the sum~ secured by this Mortgage shall be at such rale as I.ender
shali request. ' If I.ender has waived the option to accelerate provided in this paragraph 1'T, and if Borrower'~ successor in -
interest has executed a written assumption agreement accepted in writing by I.enJer, I_ender shall release Borrower from all
obligations under this Mortgage and the Note.
Tf Lender ezercises such option to acce(erate, i.ender shali mail Borrower notice of acceleraiion in accorciancr u~ith
paragraph 14 hereof. Such notice shall provide a pcriod of not less than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of cuch pcriod,
Lender may, without further notice or ciemand on Borrower, invoke any remedies permitted by paragraph 1R hercof.
NON-UNIFORM COVeVeNrs. Borrower and l.ender further covenant and agree as follows:
18. Acederation; Remedks. B:ceq as pm~-ided in paragraph 17 hereof, upon Eorrower's breac6 of auy covenant or
a6reemeet of Borrower in tb~s Mortgsge, iacludin~ tbe corenaots to pay wbea dae aay znms secnred by tbis Mortgage. Leudcr
p~ior to accele~tion sbali onil notice to Bomu~?er as prorjded in pua~raph 14 hereof specff~: (1) Me braacb; (2) tlie actioa
rrqnind to care secb brrsci~ (3) a date, uot less than 30 days from tbe date t6e ootice i4 ma8ed to Sorrowcr, by which such
breat6 mmt be cered; snd (4) t6at failore to curc sach breac6 on or before tbe date spec~ed .ia the ootke msy resolt ia
secderatioe of t6e soms secnred by i6~s Mortga~e, forecbsore by jadkial proctedin~ aad sak of the Property. 7Le aotke
shalt furticr intona aomower of tbe ri~~ to relr~state afler xcckratbn and tbe ri~6t to aa~art ia tbe foreclosrre proceedie~
tLe ~a-ex~tence ot a dehnk or my other defease of Borrower to accekratioa snd forecbwre. It the breach is not cwed o0
or before the datt speci6cd in tae aotke. l.ender at [.ende~'s optbn may declare sD ot tbe sa~s seeared by this Moet~a~e to be
imaedi~tely doe aad p~yabk witlw~t furt6er demand and may foreciose tbis Mort~e by jodkW proe~. Lender sball
6e a~ to colkrt i~ saci proeeedjeg aU expeases of fomMaare, jnclu~. bat nM iin~ited to, reasombk attorney's fees,
~ed costs of docuse~d~ry eridence. ~cts and titk rcpor~s.
19. Sorrower's R'.~t to Reiastate. Notwithstanding Lender s acceletation of the sums secured by th~s Mortgage,
Borrower shall have the right to have any proceedings hegun by I.cnder to enforce this Mong~ge discontinued a[ any tirtte
. ~ ~~~87' ~E 7?~
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