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Lender's written agroea~cnt or applicabb l~w. Borrowe~ shall pay the amount o[ all mortgase insura~oe Rremiwns in the
manner provided under pa~agnph 2 hereof. '
Any amounts disbursed by l.enckr punua~t to tha pang~apFi 7. with iate~est therooo. shall become additanal
indebtedncss of 6orrowe~ secured by ~his Mohgage. U~less Borrower a~d I.e~de~ aareo to other tern~s of paymeM. such
amounts shall be payabk upon natice from t.ender to Bomower rcques~ina payment thercot. aod shall bea~ interdt from the
date of d'ubursement at the rate payabk from time to time oo a~t:tanding principal under the Note unlas pa~t oi
interest at such rate would be contrary to applicabk law, in which event sueh amounts ahall beu intereit at the hi~ rate
permissi'bk under applicabk law. Nothing coo~ained in this paragnph 7 shsll rcquir+e Lender to incur any e:peme or tdce .
any action hertunder.
1~}ectb~, l.ender may make o~ cause t~ be made rcasonabk eMries upon and inspections of the Prope~ry?. p+ovidod
that l_o~de~ shall give Borrower nMice priar ta any such i~spection specifyina reasoaabk cause therefor related to La~der's
interest in the Property. -
9. Co~de~aNow. The proceeds of any award or claim for damages, dircet or consequential, in connection with any
condemnatioo or other taking pf the Propertp, or paA ti~ercof, Qr for ca?veyance in lieu ot condemnation. are i~ereby assigned
and shall be paid to i.ende~.
in the event of a total taking of the Propeny, the proceeds shall be applied to the sums secured by this Mortaa~.
with the excess, if any, paid to Borrower. In the event af a partial taking of the Property. unku Borrower and Leoder
othervvise agroe in writing, therc shall be spplied to the sums sxurcd by this Mortgage such proportion of the pmceeds
as is equal to that proporiion which the amount of Ihe sumc securcd by this Mortgage immediately prior to the date of .
taking bears to the fair market value of thc Property immediately prior to the date of taking, with the balance of the prooeeds
paid to Borrower. - . :
If the Property is abandooed by Borrower, or if, after noticc by Len~er to Bomower that the condemnor of~en to malce
an award ar settk a claim for dam~ges, Bc~rrawer fails to respond ta ~ender within 30 days after the datt such notice is
maikd. Len~r ic authorized to cc~lloct and apply the ~roceeds. at i.ender's option. either to ~storation or repair of the
Property or to the sums sccured by Ihis Martga~te. .
Unless Lende~ and Borrowe~ otherwite agrce in writing, any such application of proceeds to principal shall nat extend ;
or postpone the due date of the monthly inslallments referrcd to in paragraphs i and 2 hereof o~ change the unount of '
. f
such installments. _ `
10. Sormwer Not Relcaud. Exiension of the time for payment or modiflcation ot amonizstion of the sums securcd 3
by this Mortgage granted by I.ender to any cuccecsor in intercst of Borrower shall not opent~ to rckase. in any manner,
the liabiliry of the original Borrower and Borrowcr s successors in interest_ Lender shall not be requircd to commence
proceedings against such successor or rehice to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by r+eason of •rny demand made by the oriRinal Borrovver and Borrawer's successors in in~ercst.
11. Forbearance by Lender NM a Wairer. Any fotfiea~ance by Lender in exercising any right or remedy hereunder, or r
otherwise afforded by applicable law. shall nc?t be a waiver of or preclude the exerciu of any sueh right or.remedy. ;
The procurement of insurance or the payment of taxec or other liens or charges by Lender shall not be a waiver of Le~der's :
right to accelerate the maturity of the indehtednesc xecurcd hy this Mortgage. ~
12. Ren~edies Ce~nulNi~e. All remedies provided in this .Mortgage are d'utinct and cumulative to any other right or f
rcmedy under this Mortgage or a(forded hy law ar equity, and may be exercised concurrc~tly, independently or successively. ~
' l3. Secce~o~s aad Assi~~s Bonnd: Joiat md Sereral i.isbiNtp; Capfions. The caveaants and agreements hercin 3
contained shall bind; and the rights hereunde~ shall inurc to, the respective successors and assigns of Lender apd Borrower. . ~
subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Borrow~er shall be join~ and several. ~
't1~e captions and headings of the paragraphc of this Mortgage an for convenience only and are not ta be used to~ ~
interpret or define the provisions iKre.~i. f
14. Notice. Except for any no~ice rrquircd under applicabk law to be given in another manner. (a) any notice to ;
Borrower provided for in this Mortga¢e shall be given ~y mailing such notice by certifled mail addr~ssed to Bormwer at
the Property Address or at such ahcr addresc as Bormwer may designate by no~ice to i_ender as provided h~rein, and {
(b) any notice to Lend~r shall he given by certified mail. retum receipt roquested. to I.ender s addms stated herein or to
such other address as Lender may deciqnate by noticc to Bormwer as provided herein. Any notice provided for in this
Mortgage shall be dtemed to have been given to Bc~rrower or Lender when given in ihe manner designattd herein. ~
15. Unifor~n MortRa~e; Goverai~ I.aw: Sererabilify. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations hy jurisdiction to constitute a unifornn security instrument oovering
rc~l property. This Mortgage shall be goveraed hv the law of the jurisdiction in which the Property is located. In the
event that any provision or clause of thic Mortgage or the Note conflicts with applicabk law, such confliet shall not affect
~ other provisions of this MoNgage or the Note which can be given effect without the conflicting provisio~. and to this °
end the provisions of the Mortgage and the Note are Jeclared to be xvenbla ~
16. norrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time }
of execution or after recordation hereof. `
17. Traasfer of t6e Propetty: Assamplioe. If all or any part of the Property or an intercst thorein is sold or transferred ~
by Borrower without I~nder's prior writtcn cornen~. excluding (al the creation of a lien or encumbrance subordinate to ?
this Mortgaga !bl the creatu+~ of a purchace m~ney cecurity interest for household applianca. (c) a transfer hy deviae. ~
descent or by ope~ation of law upon the Jeath of a joint tenant or (d) the grant oT any leasehold intercst of ihree years or kss i
not containing an option to purchase, Lender may. at Ler?der's option, declare all the sums secured by this Mortgage to be ~
immediately due and payable. Lender shall have v?•~ived uich option to accelerate if. prior to the sale or transfer. Leoder r
and the person to whom the Property ic to be cc~IJ or transferred reach agreement in writing that the credit of ~uch person ;
is satisfactory to Lender and that the interc~t payable on the sums secured by this Mortgage shall be at such rate ac I.ender *
shall requat. lf Lender hu waived the option to accelerate provided in this paragraph 17. and if Borrower's successor in _
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall rclease Borrower from all
obligations under this Mortgage and the Note. ~
If Lender ezercises such option to accelerate. Lender shall mail Bo~rower notice of. acceleration in accordanc~ ~ i~h ,
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 due. It Barrower fails to pay such sumc prior to the expiration of cuch pcriod.
Lender may, without further awice or demand on Borrowcr, invoke any remedia permitted by paragraph 1R hereof. .
NoN-Urr~FaeM Coverisrrrs. Borrower and Lender further covenant and a6rce u follows: _ ;
ls. Ace~raRjo~: Re~edks. F~cept as provided i~ pra6rspr 1~ 6ereof. ~w fon~ows~'s brracA of a~y co•e~aot or :
a`resae~t of ~orrawer i~ tYk Mai;aat. i~cludiu~ We co~ensafs to pay ~ew dre swy w~s sarrcd dy t6is Morl~a~e. Leader :
prior to sccelerstloa s6a0 ~~otke to Eorrn~?er as prorNcd h para~rap6 14 bereot spccif7i~: (1) tbe b~esch: (21 tbe setios F
reqn~ b c~re s~ Wacr: l3) a dde, aot !ds tlw~ 30 days frou~ tUe date t~e ~otke is wa~ei to ~eowtt. b1' wAkh sotM
~escM o~~M 6e c~n~ a¦d (4) t4at faMre to c~e ssch M~eac~ ow or rdore tlie date s~eeiie~ i~ tbe iwtice aay resolt b ~
secde~tioe ot tre w~s secrred by tWs Morlsa~e, [o+eclodnrr y' j~cbl lroee~i a~ ~ale ot tbe Property. '11+e notke ;
aMaO furtber bfono Eorrower d tre ri~M to reiwstate dte? sccekratio~ a~ t~e ri~Yt b ~+sert i~ tre forecloure procee~i¦~
tbe aon-e:isteaee of s detaoN or s~y at6er detessc of eorrower to accekratbe swd tortclosrre. N Me bresc~ is not corei o~ ~
or before the date speciiea-i~ t6e ~otice. Le~der at [.endtr's opliou a~ay da1~E aY of tl~e sa~us secrre~ 1ry tl~s MortsaRe b 6e f
ia~aediately due sei Mysbk wkbd t~utber demand and aay torecbse trit Morti~ ~7 ~W P~R. i.endtr chaN . ~
~ ~e eatided to co~ed iw s~t~ rroteedi~G dl espeoses ot foreclossrc. iocbdie;+ brt ~ot liwihi t~. teawsa6ie stt.xney's fees. 3
asd coas oE doc~~tary eride~ee, sbdrscts aad tiik rsprls. ~
19. iorrowers Ri~t to Relrtata Nc?twithstandin~ Lender s accekration of the wms secured by th~s Mortsage. -
Borrawer shall have the right to have any proccedings txgun hy [:e~der to enforce this Monltage discontinued at any time
. 80GK 299 704
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