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Lende~
s written agrament or applicabb Ivw. 8orrowcr ahaU pay the amount o[ all mort~age insurance praniums in the
manner proviciec! under parag~aph 2 hereof.
Any amouMs disburscd by l.cnde~ punuant to th~ paragraph 7, with intcrest thereon, shall become additional
i~debtodncas ot Borrower secured by this Mortgage. Unless Bo~rowe~ and I.ender agroe to othe~ temu of paytnent~ such
amounts shall be payabk upon nolice from f.ender t~ Barmwcr roquesting payment thereof, and shall bear intercst from the
date of disbursement at the ntc payahk from time to ~ime cx~ aq:tandina prinFiQa1 u~ tbe Note unless ~yment ot
i~terest at such rate would be contrary to applicable law, in which event such amaunis-ahall b~ar ioterest at the hiahest nte
permissibk under applicabk law. Nothing contained in this paragraph ~ shall require I.ende~ to incur any expense or take
any action hereunde~.
8. iaspectiow. I.ender may make or cause ta Fx made reasonable cntries uEwn and inspections of thc Property, provided
that i.ende~ shall give Borrawer ncuice pri~~r to any s~~ch inspection specifying reuonabk cause thetetor related to L.~nder's
i~terest in the Property.
9. Condemwfioa. The prc~ceedc of any award or claim for damages, direct or consequential, in connection with a~y
condemnatioo or other taking of 1he Property, ar part thercof, or for c~veyance in lieu of condemnation, are he[eby assigned
and shall b~ paid to I~nder.
In ~he event of a tota) taking of the PropeNy, the proceeds chaU he applied to Ij~ sums secuted by this Marigage,
with the excess, it any, paid to Borrower. ln thc cvent ai a partial takeng of the Property, unless Borrower and l.ende~
ahenvise agroe in writing. there shall be spplied to the sums securccl by thic Mortgage such proportion of the procoeds
as is equal to that proportion w~hich the amount ~~f the •sumc scc~ired by this MartgaRe immediately priar to the date of
taking bears to the fair market value of Ihe Property immediately prior to the date o! laking, with the balance of tht proceeds
paid to Borrower. ~
if the Property is abandonecl by Borrower. or if. after notice by I_ender to Barn~wer that the condemnor oPfen to maka
an award or settle a claim for d~m~ges. Bormwer fail. to r~~,~nd to I.ender withi~ 30 days after the date such natice is
mailed. i_ender i~ autharized to collect and apply the proceeds. at i.e~der's option, either ta restoratio~ or repair of the
Property or to the sums cecurcd hy this Mortgalee.
Unless Lender and Borrower othenvite agree in writing, any such applicati~n of proceeds to princip3l shall not ext~nd
or postpone tF~e due date af the monthly installmcnts referrcd to in paragraphs 1 and 2 hereof or change the amount of
such ins~allments.
19. Borrower Not Rekased. Extension of thc timc far payment or modification of amartization of the sums secured
by this Mortgage granted by i.ender to any «~ccc~r in interest of Bonower chall nat operate to release. in any manner.
tl+e liab~lity nf the original Borrawer and Aorrower'~ successc~rs in interest. I.ender shall not be required to eommence
proceedin~s against such suttessor or refuu ~o ertenJ timc for payment or oiherwise modify amortizat~on of ~hr cums
se~ure~ br this Mortgage by reascx~ of any demand made b~• the oriQinat Bc~rrowe~ and Bor~ower s succescors io intercct.
11. Forbeannce 6y i.eader Nol s Waiver. Any forMearance by l.ender in exercising any right or remedy hereunder, or
~therwise affiorded hy applicable law, shall not he a waiver of or preclude the exercise of any sach right o~ remedy_
The procurement of insurance or the payment af tazec or other liens or charges by I.ender shall not be a waiver of l.ender s
right to accelerate the maturity of the indehtednecs secured h~~ thic Mortgage.
12. Remedks Camulath~e. All remedies provided in this I?i~rtgage are distinct and cumulative to any other right or
rcmedy under this Martgage or afforded by law or equity, and may fx exercised concurrently, independently or successively_
' 13. Successors aad AssiRas Bound:.Joint nnd Sereral i.iabiBry; Csptions. The covenants and agreemeots herein
coniained shall bind, and thc rights hereunder shall im~re to, the respective successorc and assigns of i_ender'and Borrower.
subject to the provisions of paragraph 17 herco(_ All cove~~ants and agreements of $orrower shalt be joiM and several.
"il~e_captions and headings of the par~graph~ of thic Martgage are for convenience only and are not to be used to
' interpret ar define the provicians hereof.
l4. Notice. Except for any notice reyuired under applicable law to be given in anather maoner. (a) any notice to
Borrower provided for in this Mortga¢e shall be given hy mailing such notice by certified mait addressed to Barrower at
the Property Address or at such other addrec. az 8orr~wer mav designate by notice to I.ender as provided hercin, and
(b) any notice to Cender shal! he givrn by ccrtificd mail. return receipt requested. to l-ender s address slated herein or to
such other address as Lender may de~ignate by notice to Borrower as provided herein. Any nolice provided for in this
Mortgage shall be deemed to havc heen gi~~cn to Borrow~cr or l.ender when given in the man~er designated herein.
15. Uniform Mort~;~e: Govemin~ Law; Se~-erabilifr. This form of mortgage combines ~miform covenants for national
use and non-uniform rnvenantc with limiteJ ~ariations hy jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed h~ the law of the jurisdiction in which the Property is located. In the
event ~hat any provision or clauce of thic Mortgage ~r the Note conflicts with applicabie law, such conflict shal! not affect
other pravisions of this Mortgage or the Notr whieh can l+e given efiect withoot the conflicting provision, and to this
end the provisions of ~hc Mortgage and the Note arc ~krlared ~o he severable.
16. Borrowe~'s Copy. Borrower shall be fu~ni~hed a conformed copy o( the Note and of this Mortgage at the time
of execution or after recordation hereof.
l7. Traasfer of the Property; Ascumption. If aU ar an~• pari of the Property or an interest therein is sotd or transferred
by Borrower without Lender's prior wriU~n ~~in~ent, e~cluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (bl the creat~on of a purcha~e m~.ne~• tiecuritv mterest for household applianc~s, (c) a transfer hv devise,
descent or by operation of law upon the death of a jo~nt tenant or (dl the grant of any leasrhold interest of thrce years or lecs
not containing an option to purchase. I.ender may. at l.ender't option: declare all the sums secured by this Mongage to be
immediately due and payable. [_ender shall have N:uved such option to accelerate if, prior to the ~ale or iransfer. I.enckr
and the person to whom the Property i~ tc~ bc col.l or transferrcd rcach agreement in writing that the credit of cuch percon
is satisfactory to t.e~der and that the intcrr.i papable on the sums secured by ihis Mortgage shall be at such rate aa I_ender
shail request. if 1_ender has waived the op~;~n to accelerate provided in this paragraph 17, and if Borrower's successor in
interest has executed a written assumpiion agreement accepted in writing by l.ender, Lender shall releau Borrower from alt
obligations under this Mortgage and the Note.
If Lender exercises such option to accelerate. ~_ender chal! mail Borrower notice of acceleration in acrnrdancr ~~h
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days irom the date the notice is mailed within
which Borrower may pay the sums declared due. lf Borrower fails to pay such sums prior to the expiration of ~uch peri~~d,
[.ender may, without further r.otice or demand on Borrower, invoke any.remcdia permitted by paragraph !R hereof.
NoN-UHiFOaM Covetv~NTS. Borrower and t_ender funher cavenant and agree u follows:
18. Accekratioo; Remedia. E:cept as providcd ia pa~nph 19 kereof. upoa domowels 6resch of aey covenant or
agreemcst of ~orrower ia t6is Mortgage, includi~ t~e corenaots fo pay when due sny sntns secared by t6k MortRa~e. l.eade~ ,
prior to sccelentbn sbalt mail notke to ~orrower as prorWcd !n pars~nph 14 Aereof specK~: (1) tbt breach; (21 the actbn
reqsirsd !o crrs socb breacb; (3) a date, not less than 30 days irom the date tbe aotice ~S ~a8ed to dorrower. by whic6 wcM
breach mmt be cnred; aod (4) that failure to cun stich breach on o~ 6etore tbe date speci6ed in Ihe notke mar resuk in
accekratios ot tbe ~ws secured by tkk Mo~aRe. fo~~losurr by jadicial proeeedin` aad ssk of tAe Property. The notice
shW furtber inform sorrower of tbe riqbt to niustate sfter acceleratioa and the ~bt to a~seA ia the fortclosure poceedi~
We ooa-e~isttnce of s defauM or any other dcfe~se of Borrovrer to ~ccekration snd furccbsnre. If tbe breach is aot coced on
or 6etore the date speci6ed in the notice. I.ender ~t I.ender's option ~sy dectur aq of the saa~s secrred by thLs MortRa~e to be
ima~ediately due ana payabk witfaut further dem•rnd and msy forccbse tHb Mortaa~e by judicial proeeediuR. I.ender chall _
be eotidad to coikct in soc6 proceeding s~ e:penses oi foreclosure. inclndio~, b~t wof Waited to, reasonabk stt~,rner's fees.
aod costs of docemestary evideoce, abstrsc~s snd titk nporls.
19. don+owec's Ri6ht to Reiostate. Notwithctanding l.ender's acctleration of the sums secured by th~s Marigage,
Borrower shall have the right to have any proceedings fx-gun hy Lender to enforce this Mortgage discontinued u aoy time
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