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l.e~de~'s writtea a:roement or applicabb law. Borrower ihaq pay the amouot al aU mortsa~,e inwrana premiums in tbe
manner provided under parajraph 2 ha~ot.
Any amuunts disbursed by I,e~~ic~ pursuant to tha P.na~,~ with ioter~st theteon. shail become additiooal ~
indeb~odncss ot Borrowcr secut+ed by thia Mongaae. Unkss Bonower and Lrnder aaroe to othe~ temu of pa~naeM, wch ?
amou~ts shatl be payebk upon notice from I.ender to 8orrower rcquestina payment thereot. snd sAsll besr inte~e.+t ftnan tha i
date of disbursement, at the ate payabk from time to time on ounhndins priocipal undet th~ Note unless paymeut of f
ietercst at such rate woald be cortrary to spplicabk law, in which event wch amounts ahall be.~r interest at the hi~l~at n~e
permissibk unde~ spp!'s:abk law. Nothina conlained in this parasraph ~ ahdl requine I.tnckr to incur any ~at~ or Wce
any tction her+eunder.
S. I~eetiow. i.e~de~ may make or cause to be made ressonabk entries upon a~d inspections of the Prop~rty, ;
ty provided
that I~nder shall give Borrowe~ naice prior ta any such inspection spe~cifyioa rea~nabb cause therefor related to Ld~der's
interest in the Pmperty.
9. Cosde~aNb~. 'fl~e procceds of any swsrd or claim for damaga. dircet or cons~queMi:l. in connectioe ~rith ~ny ~
condemnation or othe~ taking of the Propeny. or paA thercof. or for conveyance i~ lieu of condemnatiot~. are hereby usisned
and shall be paid to i.ender. ' .
in the event of a total taking of thc Property, the proccaia shall be applied to the surtu secured by this Mortaaae.
with the excess, if any, paid to Borrower. In the ev~nt of a partial taking of the Property. unkss Bomower and Lp~det
otherwise agree in writing. there ahall bt appliod to the sums secured by this Mortgaae such proportion of the prooeeds
aa is equal to that p~oporiion vehich the amount of the sums secured by this Mortgaae immediateiy prior to the date of
taking bears to the fair market value of the Prqpcrty immediately prior to the dale of ukina, with the balance ot' the procaeds
paid to $orrower.
if the Property is abandoeed by Borrower. or if, after notice by I_ender to Borrower that the condemnor oRers W malte
an award or xttk a claim for damages, Bc~nrnver faiis to respand to Lender within 30 days after the date such notite is
mailed. I.cod~r ic authorized to co!lect and apply thc proceeds, at l~nder's option, either to restontion or repair o[ tbe
Properry or to the sums securcd by this Mortgage. ~
Unkss Lender and Borrower othervvise agrce in writing, any such application of procteds to principal shalt not extead
or posfpone the due date of the monthly installments referred to io pangraphs 1 and 2 hercof or change the amount of
such installments.
10. dorrower Not Rekased, Extension of the time for payment or modification of amortization of the ~ms securcd
t~y tMs 1?iortgage granted by Lender to am• cuccecsor in intereu of BoROwe~ shall not opente to r~ekase, in any manner.
tAe liability of the original Borrower and 8c?rrower
s successors in intercst. Lender shall not be requircd to commence
proceedings against such successor or refuse to ertend time far payment or otherwix modify amortiution of thr sums
secured by this Mortgage by rtason of any demand made by the original Borrower and Borrower
s successon in • interec~.
11. Rorbearance by I,cnder Not a Waivcr. Any forlxaraace by Ixnder in exercising any right or rcmedy hercunder, or
otherwise afiotde~d by applicable law. shall nM be a waiver af or proclude the exercise of any such right or remedy.
The procurcment of.insurance or the payment of taxes or other liens or charges by i.ender shall not be a waive~ of Lender's
right to accelerate the maturity of the indebtedness ceeurcd hy this Mortgage.
12. Raaedies Cmanlst~e. All remedies pmvided in this Mortgage arc distinct and cumulative to any other right or
remeciy under this Mortgage or affordccl hy law ar equity, and may be exercised concurrently, independently or successively.
13• S4ccea~ors aad. Assi~es Sound; .Jo~t md Several i.iab~; Captloss. The covenants and agreements hercin
contained shall bind, and the rights hereundtr shall inurc to, the respective successors and assigns of Lrnder atid Borrower.
subject to the provisioos of paragr~ph 17 he~coL AI! covenaras a~d agreements of Borrower shall be joiry and several.
"I~e captions and headings ot the paragraphc of this Mongage are for convenience only and are not ta be u~ed to
interpret or define thc provisions herrnf.
ld. Notke. Except for any notice rcquircd under appiicabte law to be given, in anotlkr manner, (a) any notice to
Borrower pr~vided for in this Mortgaae shall be given by mailing such notice by ee~tiflod mail addrused to Borrower at .
the Property Address o,r at such other addrecc as Bormwer may designate by notice to i.ender as provided herein, and
(b) aoy notice to Le~der shall he given hy_certificci mail, retum receipt requested. to i.ender's address sisted herein or to
such other address as Lender may designate by nc?tice to Borrc?wer as provided herein. Any notice providtd for in this
Mortgage shaq bt deemed to have been givcn to Bc~rrower or Lender when given in the manner designated hetein.
1S. Unifona~ MoK~~e; Governin~ i.aw; Sever~biltfy. This form of mortgage combina uniforn~ covenants for national
use and nan-unifornt covenantx with limited variations by jurisdiction to constitute a unifortn security instrument rnvering
r~eal ~roperty. This Mortgage shall be Roverned hy the !aw of the jurisdiction in which the Property i~ located. In the
event that any provision or clause of thia Mortgage the Note conflicts with applicabk law, such conflict shall not atFoct
other provisions of this .Mongage or the Note which can be given effect without the conflicting provision, and to tha
end the provisions of the Mongage and the Note are declared ta be severabte.
!6, dorrower's Copy. Borrower shall bc furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after rccordateon hereof. -
17. TraaSfer of t6e Pruperty; A~umplion, if all or any pan of the Property or an interest thercin is sold or transferred
by Bor~ower without Lender's prior writ~cn consent. e!ccluding (a) the crration of a lien or encumbrance subordinate to
this Mortgage. (b) the creat~cm of a purchace money cecurity interat for household appliar~es, (c) a transfer by devise.
descent or by operation of law upon the ckath of a joint tenant or (d) the grant of any leasehotd interat of threc years or tess
not contaieing an option to purchase, Lender may, at Lender's option, declarc a11 the sums securcd by this Mortgag~ to be
immediately due and payable. Lender sha}I have w~•rived such option to accelerate if, prior to -the xak or transfer. Lender
and the person to whom the Property is tn bc co1J or transfernd reach agrcement in writing that the credit of cuch person
is satisfactory to Lender and that the interc~t pa~•able on the sums secured by this Mortgage shall be at such rate ac i.ender
shall rcquest. if Londer hu waivod the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interat ~u exceuted a written assump~ion agreement accepted in writing by i.ender. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
If Lender ezercises such option to aceelerate, Lenckr shall mail Borrower notioe ot acceieration in accordancr H~th
paragraph 14 hereof. Such notice shail provide a period of not less than 30 days from the date ths notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails ~o pay such sums prior to the expiration of cuch pericxi.
Lender may, without funher notice or demand on Borrower, invoke any remediea permitted by paragnph IR herec~f.
Norv-UHtFO~nr CovExerrrs. Borrower and Lender furthe~ covenant and ag~ee u fdM~+vs:
ls. Accderatbs; Reaudia. Except as provided ia p~~npM 19 bereof. Ron Dorrowee's bresch of a~y co•c~aet or
s6reeme~t of Eorrower i~ tirk MoM=a~e, r.~~ai~ t~ ~o.~~m ~o a.r a.~ ..y ~ass sec~i by ti~k Mort~a~e. I,eader
prior to aceelcntba s6a6 ~ aotice fo lbn~ower as pro~ided !a para~r~Y 1~ bereot specM~: (1) tbe ~escb: (2) tbe action -
nqoirea to a~re sucb 6rrscb: (3) a dste, uof less t6an 30 ds~s f~ t6e date tMe wotke b~a8ed to derro~wer. by wfiic6 sncb
brcaeh mwR be co~ sna that fa&~re to cnre soeh bre~cb ow or befae the date tpeciie~ i~ the iwtiee wy nsalt u
sccekratloe ot tre sama_leeund by tl~is MortfaRe. to~ecfosure b~r jnAkid p~oceedi~ a~i sak of f~e Pwperry. 'I~e sotke
s1~aU furt6er ipfora~ Eorrower ot tbe ri66t to niestate dter aecekrado~ sad tl~e r1~it b a~sert i~ tbe foreciosrre ~rocecdi~ .
t6e aoe-e:a~teace d s delsNt or sny other defeRSe af dorroaer to scceleratbw sad forcclosrn. If tbe 6resc~ is sot c~ed o~ -
or before the datc speciRed i~ t6e eotiee. Lendcr at l.ender•s optloa may deel~re a~ ot tbe s~~s seeored b~r ti~is Morq~sRe to 6e
im~sedbtdy dne sai paysbk w~itlwd Errtber demand and msy foreciose tii~ Mott~a~e i~ ~dkial poceedi~. i.ehder shaN
be eotitled to coNect is srci~ pwceedla~ d espeases ~f foreclosorr. bclndixj. brt ~ot lisild to, rnw~a6le sn.xneY's fea.
aod oosts ot doe~sedary eHdeoce. sbstrscb sad titk reports. - .
19. son~wer's Ri~t to R~atate. Notwithstanding Lender's accelention of the sums secured by ~h~s M~rtgage,
Borrower shall have the right to havo any proceedings begun ~+y t.endet to enforce this Mortgage discontinued at any time .
BL~!(
299 oA~ 638
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