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L~nder's w~ittcn agreement or applicable law. Borrower shall pay the unount of all mortgage insuraqoe Premiunu in the
man~er provided unde~ paragraph 2 heroof.
Any amouots disb~irscd by I.ender pursuant to this parag~aph 7, wiih interest thereon, shall becomc additional
inJebtedncu of Borrower secured by ~his Mongage. Unle~s Borrow~er a~J I.enJer agrYC to other tertns ot payment. such
amounts shall be payable upcm no~ire from I.cnder to Born~wrr ~eques~ing payment thcreof, and shall bear intercst tr+om the
date of disbursement at the ratc payahlc fmm timc ta time on outstanding p~incipal under the Note unkss payment of
interest at such rate would be controrv ta applicable law, in which event such amounts shall bear interest at the highest nte
permiuibk unde~ applicable law. Nothing c~nlained in thix paragraph 7 shall require I.ender to incur a~y expense or talce
any actio~ h~rcunder.
8. laspectioa. I.cndcr may makc ~r rau~c to t?e made reasonable cntrics u~n and inspections of the Property, provided
that i.endcr shall give Bormwer nolicc priur to any. siKh inspection specifying reasonabk cause therefor related to I.ender's
interest in the Properly.
9. Coademnation. The proceedc of am• aW~ard ar claim for damages, direct or conuquenlial, in connectian with any
rondemnation or dher taking of the Property, o~ pan the~eof, or,for a~nveyance in lieu of condemnation, are hereby assigned
and shall be paid b~ender.
in the evcnt of a tata) taking af ~h~ Pmper~y. Ihe pnxecJs ~hall be applied to 1he sums secured by this Mortgage.
with the ercess, if any, paid to Borrower. In the eveM ~~f a partial taking a( the Property, unlesc Borrower and Lender
otherwise agree in writinR. there shall be applied to the sums securcd b~• this Ma~tgage such proportion of the proceeds
as is equal to that proportion w~hich thc amount ~~f ihc sumc ~ured b~~ this Mortgage immediately prior ta the date of
taking bears to the fair market value of the Praper~y immcdiately prior ta the date of taking. with the balance of the pra.~eeds
paid to Borrower. .
Tf the Property is abandoneel by Borrower. or if. afler notice by l.ender to Borrow~er that the condemnor offers to make
~n award ~r settle a claim for Jamages. Borrnwer failx to ~ecpond to Lender within 30 days after the date such notice is
mailed. Lendc;r is authorized ta callect and apply ~he proceeds, at Lender's option, either to restoration or repair of the
Proper~y or to the sums secured hy this Mor~eaee.
Unless I.en.kr and Borro~er otherwisc agrce in ~~~ritinc, any cuch application of pnxeeds to principal shall not extend
or postpo~e the due date of the monthl~• installmcnls rcferred Io in paragraphc I and 2 hereof or change the amaunt of
such installments.
10. Borrower Not Released. Eztension of thc timc for payment ar modifica?.ion of amortization of the sums secured
by this Mortgage granted by I.cnJcr to am• ~urccasor in intcrc~t.of Borrower shall not operate t~ releasc. in any manner.
the liability af the original Borrower and &~rrow•er ~ successorc in interest. l.ender shall not be mquired to commenre
prex.-F.tdings against such successor or refuse to ertend time for payment or otherv?rice mc~dify amortizatian of the ~ums
4ecived b~~ this Mortgage by reason of am• demand made b~• the oriRinal Borrow~er and Borrower s suceescors in interect.
11. Forbearance b~ i.ender 1Vot A Wai~er. An~• f~nc~aranre b~• I.ender in erercising any right or remedy hereunder, or
othenvise afforded by applicahle law, shall not be a waiver of or pretlude the exercise -of any such right or remedy_
The procurement of insurance or the payment of taxcs or other liens or charges by l.ende~ shall not be a waiver of Lender s
right to accelerate the maturity of the indehtednecs cecured h~ thic Mortgage.
12. Remedies Camolatire. All remedies pro.~ided in this Mortgage arc distinct and cumulati~e to an~ o~her right or
remeJy under this Mortgage or aHordcd hy law• or equi~y. and may be exercised concurrenUy, independend) ar successively.
- 13. Successors and AssiRos Bound: ]oint and Sereral I.iabillty:~ Captioas. The covenants and agreements herein
contained shall bind, and the rights hercunder shall inure to. the respective succecsors and assigns of Lender and Borrower:
subject to the provisions of paragraph 17 hcreof. All covcoaats and agreementc of Borrow•er shall be joint and se~~eral.
'il~e captions a~d headings of the paraeraphc ~f thi~ Mortgage are for convenience only and are not to be used to
interpret or define the provisions hercof. -
14. Notice. Except far any no~ire r~yuired under applicable law to be given in another manner. (a) any notice to
Borr~wer provided for in this Mortgaee thall be given b}• mailing such notice by certified mail addressed to 8orrower at
the Property Address or at ~uch other addrccs as Barr.~~er ma~• designate b~• notict to I_ender as prrnided herein, and
(h) an~~ notice to Lender shall he gi~•cn hy certified mail. retum receipt,requested. t~ I.endets address stated herein or to ~
such other address as Lender ma}~ designate M• n~tice to Bormu•er as provided herein. Any notice.pmvideci for in this
Mortgage shall be deemed to have l~een gi~•en to Bormwcr ~~r 1_cnder ~•hen given in the manner designated herein.
15. Uniform Mort~~e; Governin~ Iav?; Se~-erabilit~•. This farm of mortgage combines uniform covenants Eor national
use and non-uniform covenants with limiteJ variations h}• jurisdiction to constitute a uniform security instrument rnvering
~ real property. 'Tliis Morigage shall be g~~verned h~~ the law- of the jurisciiction in which the Praperty is located. In the
event th~t any provision or clause of thic Mortgage c.r the Note conflicts a•ith applicabk law, such conflict shall not afiect
j other provisions of this Mortgage or Ihe N~te which can be gi~•en effect without ihe conflicting provisi~n. and ta this
~ end the provisions of the Mortgage and the Notc arc Jcclared to be severable.
16. Borrovre~'s Copy. Borrower shalf be fi~rni.heJ a conformed copy of the Note and of this Mortgage at the time
~ of execution cx after recordation hereaf. _
17. Traasfer of t6e Property; Assumption. Tf all ~r any part of the Property or an interest therein is sold or transferrcd
by Borrower without I.ender s prior writtcn consent, ercluding (al the creation of a lien or encumbrance subordinate to
~ this Mortgage, (bl the creation of a purch~ce mone~• ucuri~y interest for household appliances, /c) a trans(er h}• devise,
dexent or by operation of law upon the clca~h of a joim tenant or (J) the grant of any leasehald interest of thrcc }cars or kss
not containing an opiion to purchase, I.ender may, at t_ender'~ option: declare all the sums secured by this Mortgage to be
immediately due and payable_ Lender shall ha~•e W aived such option to accelerate if. prior to the sale or transfer: I.enJer
and the person to whom the Property is ~o be Sa1J or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the inter~~t payable on the sums secured. by this Mortgage shall be at such rate ac I_ender
shall request. if I.ender has waived the option to acceler:~te provided in this paragraph 17, and if Borrower's successor in .
interest has executed a written assumption agreement accepted in writing by Ixncier. Lender shatl release Borrower from all
obligations under this Mortgage and the Note.
If Lender exercises such Qption to acce{erate, Lender shall mail Borrower notice of acceleration in accoreiancc u•ith
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared diie. If BorroK•er fails to pay such soms prior to the expiration of sach period.
Lender may, without further notice or ciemand on liorrower. invoke any remedies permitted by paragraph I R hereo(.
Nox-UxtFOR~t CovExetv'rs_ Borrower and Lender further covenant and agree as follows:
~ 18. Accdentioa; Remedks. E:cept as pmvided in pa~raph 17 hereof, upou Borrower's breach of any coveosot or
aareeme~t of Bomower fa this Mort~sge, imcluding the coreoaets to pay whta dut any saa~ secared by t6is Morqssge, Leader
~ prior to sccdentb~ sraa ~ eotke to Eorrower as prorfded ia para6rapb 14 6aeot specNyio~a (1) t6e breach; (2) tbe actioa
reqdrd to e~t+e soc6 b~escl~; (3) a d~t, oot iess t6an 30 days from t6e date the aotice is ma8ed to Sorrower, b~' w6ic6 wc6 .
~ breac~ mat be care~ aod (4) tl~t failere to care snrb _ bresc6 oa or before the date ~peeiicd i~ the aMice may ~It ia
~ sccektafjoa of t~e sws sec~red bp t6is Mortaa~e. forecbsnrr by judicial proceedin` a~d ssk of tbe Property. 'I~e notice
s6a8 fyrtUer iwiorw Eornuwer of tbe ri66t to rcinstate after sccckratioa and t6e riaht to ~ssert ia tbe forecfosure proeeedie~
~ t6e noe~e=isteoce ot a defaok or any other defe~e of Borrower to tccelentioa aad faretlosn~e. it tl~e brescb k not cured os
or before We da~e specfsed io the notke. Lender at I.ender•s optiea may deciare ap of tbe soms scctircd by th~ Mortga~e to be
- immediatdy due snd payable witbout forther demand aod may forecbse thb Mort~a~e b~+ ~ndicial proreediuR. Lcader shaU
be ee~ to collect iw s~ pruceedin~ aN ezpeases of foreclosore, ioclndiag, bot uM Ymited t0. rearowabk anorney's fees,
aod eosts ot docoaieN~ erWesce. abstrscts aad title reports. .
19. aorrower's Ri66t to Rebstate. NMwithstanding t_ender s accekration of the sums secured by this Mortgage.
Borrower shall have the tight to have any proceedinpc t~egun hy Lender to enforce this Mortgage discontinuod at any time
soo~ 28 t ~GE 7oV
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