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l.eader': writtea sa~oement or applicabb I~w. Bormwer shall pay the amouM d sll nartsa~e L4wranoa pnmiuaa ia tba "
maaner providod unde~ panynph 2 heroot.
Any amounts disbursed by I.ende~ pursuant to this para~aph 7. w?ith interest thereon. shall becane additionsl
indeb~ednas ot Bonowcr aecured by ~his Mottgage. Unkss Borrowe~ and Lendec aa~ co a~ ot P.y~neM, ~
amounts shall be payabk upon ndice from I.ender to Borrawe~ roquestint paYment thereot. and shall bear iMerdt tt~om the
date of disbunement at the rate payabk from time to time on ouatandin~ principal under the Nde ~kss paymeat ot
interest at such rate would be contnry to applicabk law, in which c~~t ~ amounts ahaq bei~ interat at the his6e~t n!s
permisa~'bk under applicabk law. Nothima containod in this pa~nph 7 shall require i.~nder to incur aay e~pe~aa or tate
any action hertunder. ;
s. I~upectio~. Lender may make or cause to be made rcasonabk e~trias upon a~d inspoctions of the Property. pro~?ided
that Londer shall give Bonower notice prior to any such inspeclion specifyina rasoaabk csuse therefor ~elated to La~der'a j
interest in the Pmperty. ~ . 3
9. Co~e~stiow. The p~oceeds of any award or claim for damaaes, direct or conseque~tial. in oo~nectioa with~sny
coodemnation or dher taking of the Property, or pa~t thercof, or for conveysnc~e in lieu of caidemnatan. are ha~bry? assi~oed ;
a~d shall be paid to Lender. ~ ~
in the event of a total taking of the PropeNy, the proceeds shall be applied to the sums secured by this Mortsa~e. ~
with the exceu, if any, paid to Borcower. ln the event of a partial taking of the Property. unkss Bomower and Lender
wherwise a'gree io writing, theee shall be~appliod to the sums secu~d by this Mortssae such propatioe of the prooeed~ i
as is equal to that propoKion v~hich the amount af ti~e suros secured by this Mortgage immediately prior to ihe dat~e of
taking bears to the fai~ market value of the Property immtdiately prior to the date of takina, rvith the balanoe ot the prooeeds
paid to Bon+ower. ~
If tlx Prope~ty is abandoeed by Bonower, or if, after nofice by Londer to Bort~ower that the condannor ol[ers to mate
an award or settk s claim for damaga, Bonower fails to rcspond to Lender within 30 days aher the date such aotioe is s
maikd. ~Lender ic authorized to collect aod apply the proceeds. at I.ender's option. either ta restoration or repair of the :
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Property or to the sums securcd by this Mortitage. . '
Unlcss Lender ar~d Borrower othenivice agree in writing, any such application of proceeds to principal slup not exta~d ~
~ or postpone the due date of the monthly installments referred to i~ paragraphs 1 and 2 hereof or change the amount of ~
such installments. :
lA. Eorrower NM Rek~ed. Extension of th~ time for payment or moditkation of amonizstion of the sums ~red f
by this Mo~tgage granted by Lender to any succeuor in intercst of Borrower shall not opente to r~ekase, in my manner, r
the liability of the original Borrower and Bc~rrower'c succeuors in interest. Le~der shall not. be requircd to commence
proceedings against such successor or refuse t~ extend time for payment or otherwise modify amonizatiori oi the sums
securcd by this Mortgage by resson of any demand made by the original Borrower and Borrower's succeswrs in imercst.
11. Rorbearsnce by Leader Not s Wsiver. Any f~rbearance by Lender in eatrcising any right or remedy hereunder, or _
otherwise afforded by applicable law, shall not be a waiver of or prcclude the exercise of any such rig6t or remedy.
The procurement of insurance o~ the payment of taxes or other lieos or charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness securcd hy ihis Mortgage.
l2. Remedks Comuhti~e. All remedies pmvided in this Mortgage arc distinct and cumulative to any other right or
rcmedy under this Morlgage or attorded hy lavir or equity, and may be esercised concurneotly, independently or successively.
' 13. Sscceason asd AsdR~s ~nd: JoiM sod Several i.iabitlry, Capdo~s. 'I7~e rnvcnanis and agreements herein
contained shall bind, and the riRhts hereunder shall imirc to, the tespoctive wccessors and assigns of Lender at~d Bonower. ~
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shal! be jary and s+everal. -
7lu captions and hcadings of the paragraph~ af this MoNgage arc for rnnvenience only and ane not to be uoed to ~
interpret or define the provisions hereof. ~ ~ ' `
14. Notke. Except for any not'ice rcqiiired under applicabk law to be given in another manner. (a) any notice to ;
Borrower provided for in this Mortga¢e shall be_ given by mailing such notive by certifkd mail addrcssed to Borrower at ;
the Property Address or at ~ such other address as Bormwer may designate by notice to i.ende~ as providod herein, and
(b) any notice to Lender shall he given hy certified mail. return receipt requested. to I.eoder's address stated hercin or to ~
such other addras as Lender may designate by notice to Bormwer u provided herein. Any notice provided for in this . :
Mortgage shall be deemed to have been given to Bc~rrower ~r Lender when given in the manner designated hercin. ~
iS. Unifora~ Mori~a~e; Goveraln~ I.a~.: ScversbNity. This form of mortgage combina uniform covenants fo? national ,
use and non-uniform covenan~s with limitecl variations by jurisdiction to conuitute a uniform security instrument covering #
real property. This Mortgage shall be governcd hy the law of the jarisdiction in which the Property is located. In the t
event that any provision or clause of thic Mongage or the Note conflicts with applicabk law. such conflict shall not affect ~
other provisions of this Mortgage or the Note which can be given effect without the conflicting pmvision, and to this °
end the provisions of the Mortgage and the Note are Jeclared to be severabla i
16. Eorrower's Copy. Borrower shall be furni~hed a conformed copy of the Note and of this Mortgage at the time ,
of execution or after mordation hereof. ?
17. Tra~fer of t6e Pmpe~tv: Assump~ion• 1f all or any pan of the Property or an intercst thercin is sold or transferred ~
by Borrower without Lender's prior wriucn consent. excluding (ai the creation of a lien or encumbrance wbordinate to ;
this Mortgage. (b1 the crcatic+n of a purchace money cecurity interat for household appliances. (cl a trapsfer hy devise, ~
descent or by operation of law upon ihe death of a joint tenant or (d) the grant of any leasehold interat of three ycars or kss ;
not containing an option to purchase, Lender may, ai I_ender's option, declare all the sums secured by'this Mortgage to be =
immediately due and payable. Lender shall have w•aived u~ch option to accelerate if. prior to the sale or transfer, Leoder
and the person to whom the Property ic to bc so1J or transferrcd rcach agreement in writing that the credit of cuch perton ;
is satisfactory to Lender and that the interc~t payable on the sams secured by this Mortgage shall be at such rate ac Lender ;
shall roquest. if I.ender hu waived the option to accelerate provided in this paragraph 17. and if Borrower
s successor in #
interat hu executed a w~itten assumption agreement accepted in writing by Lende~. Lender shall rekase Borrower f~om all ~
obligations under this Mortgage and the Nota ~
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of accekntion in accordancc w~ith i
paragraph 14 heroof. Such notice shall provide a period of not las than 30 days from the date the notice is mailed within s
which Borrower may pay ihe sums doclared due. I( Borrower fails to pay such uims prior to the expiration of such period, ~
L.ender may, without further nwice or demand on l3orrower, invoke any remedia perm~tted by paragraph 18 herrnf. . _
NoH-UHt~M CoveNerrTS. Borrower and L.ender further covenant and agr~ce as follows:
l S. Acedentioo, Rasedia. B:cept a~ provided is ~rs'li 19 benot. ~ ionewers Mead~ of a~y eo~ewawt or ~
atreemcot of dorrower i~ tMh Mortaa~e, iwcludi~ tbe coreaaNs to ~Sy wAew dre a~y s~ws seeuea b~ t~ Mor~a6e. i.e~der s
prior to secekratbe a6aB mail aotke M dorrower as pro~iaed i~ pn~tapr 14 bercot speclfl'dLs (1) He brsscM: (21 tbe actiow ;
' reqaired to core srcl~ bresci; (3) a dMe, wot {as t6au 30 da~s tru~ the date tMe ~otice it ~a~ei b lon.ower, by wbicb s~ F
bresch w~t be c~red: aod (4) t6at fa~re b c~re sacb ~resc~ os or before tbe date qeeliei i~ ihe wotice mar resrlt iw ~
accderatio~ ot t~e saas ac~red bp tYis Mort~e. toreclosure bp ~ield N~oceedi~ aMl ~ale of tre Propertr. 'ILe ~otice =
• s6aU furtber fafwa~ ~orrower of We riabt to rei~stde ~ter accekratio~ a~ t6e ~t to aiseA i~ tl~e forecios~re proc~ . ~
t~e aoa-existe~ce d s aefsrlt or ~y dber deteese of Eorro~.er to ~eceleratfo~ ~d torecloarrr. N t6e bresel~ is ~ot erre~ a~ ~ i
or befo~e the dsh sptei8ed L tbe sotice. Leeder at I.ende~'s optioe may atch~e a~ of fk s~ws secstea ~ tl~b Mort~e Is be ~
immediatdy due sud pyabk rritboMt faAber demand and a~sy foreclose tii4 Morl~a~e r7_ j~iieltl lroeee~i~R. Lender d~ap 4
be eetitkd to co~eet W s~cY proeeedinL sM e:pcoses ~t forecbsrre. i~clydi~. bd ~ot Y~itei M. rea~odble an.xnry's fea. ~
a¦d cusb of do~~ee~tary e~Weace. sbdr~cls s~d Iitk reporls. ~
19. 'on~ower's Rl~i~t to Reie~tate. Nc~twithstandinR ~ender s accekration of the sums secured by th~s M~rtgage, y
Borrower shall have the right to have any procetdings begun hy Lender to enforce this Mongage discontinued at aoy time t
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BokK 299 PAGf 650 ~
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