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l.ender's wntten agrecment or applicabk IQw. Borrowe~ shali pay the amount of all mo~tgage insurance premiums in the
mar~~e~ providcd under paragraph 2 hereof. ~
Any amounts disburuJ by I.enJer pursuanl ta this pa~agraph 7, with interest tfiercon, shall become additional
i~Jeb~ednesc of Be~rrawcr secured by this Mongage. Unlecc Bor~owcr and l.ende~ agrec to olher temns of payment, such
amcxints shall hc payat+le upon m?tK~c from I.cnder to Borrawc~ requesting paymcnt Ihc~eof, and shall hear interest fronf the
date of disbursement at the ntc payahk from time.to time cx~ outstanding principal under ihe Note unless payment of
interest at such rate would be cont~arv to applicable law, in which event cuch amounts sFall bear interast at the highest rate
pertnissible under applicable law. N~~thi~g con~ained in this paragraph 7 shall require l.ender to incur any expense or take ~
any action hcrcunder.
8. Inspecfios. I.enckr may mai;e or cause ta he made reascmable enlries upon and inspections of the Property, provided
that l.ender chall give Borrower notwe pW~r to any such inspection specifyi~g reasanabk cause therefor related to Lender's
• intercxt in thc Property. ~
9. Condemnatbn. The proceedc of any awurd or claim for damages, dircet or conuquential, in connection with any
co~demnatian or other ~aking of Ihe Property, ar part thereof, or for conveyance in lieu of coodemnation, are hereby assigned
a~d s'~all bc paid /o I.endcr.
1n the event of a total faking of Ihc Pmpcrty. !hc pr~kccds chall bc applied lo the sums secured by this Mortgage,
with the excess, if any, paid to Bcrrowcr. ln ~hc cvcnt of a partial taking o! thc Property, unless Borrower and I.ender
othenvise agrce in writing. thet~e shall be applied t~ the ~ums securcd hy this Mortgage such proportion of the proceeds
as is equal ta that praportion a•hich Ihr amount of Ihe sumc :ecured by ihis Mortgage immediately p~ior to the date of
taking bears to the fair market value of Ihe Propcrty immediately prior to the date of taking, with the balance of the pruceeds
paid to Bormwer. ,
If the Properly ic aband~ned h~• Bor:ower. or if. aRer noticc hy i.ender to Bormwer that the condemnor otfers to make
an award or celtle a claim for damagrti. B~~rr~wer fail. t~ resx~nd to I.ender within 30 days after the date such notice is
mailed. I.enJer i~ authoriTCd to collect and ~ppl~~ ~he procecdc, at l.ender i option, either ta restoration or repair of the •
Property or to the sum~ .ecured h~- Ihi. Mnr~ga~c. _
Unlesc l.ender and Borrow•er other.~~icr agree in .criline. an~• ~iuh application of pmceeds to principal shall not extend ,
ar pc~ctpone thc due da~e of thc mrnithl~• inctallmcntc referrcd to in paragrapfis 1 and 2 hereof or change the amount of , .
cuch installments.
10. Borrower Not Released. ~~tenfion of the time for pa}~ment o~ modification of amortization of the sums secured
by ~his Mortgage granted t+y Lender to am• cuccecu~r in interrct ~~f Bonower ~hall not ope~ate ta rclease, in any ma~ner.
the liabilily of the original Borrower and Rrrroa~~'~ succes«r~ in interest. l.encler shall not be required to rnmmence
pmceedings against such si:ccessor or refu~e to ertenJ~ time for payment or athen+~ice modify amortization of thr ~~~ms
serured b}~ this Mortgage bV reas~~n uf am• drmand made M• ~he c?rieinal Bormwer and Borrower s sacces.cors i~ intercct.
11. Forbe~rance by I.ender Not a Wai~~er. :~m~ fc.rbearance b~• I cnder in erercising am• right or remedy hereunder, or
othenvise aBordeJ hy applicahle law. shall not he a waiver of or preclude the exercise of any such right or remedy. •
The procurement of insurance or the payment of tate. or other liens ~~r charges hy I.ender shall not he a waiver of l.ender s
right t~ acceleratc the maturity of the indehtedne~s c~curcd h~• thi. !~lortgage.
12. Remedits Cumulative. All remedies pm~•ided in thic 111ortgage arc distinct and cumulative to any other right or
remeJy under this Morlgage or aftordcd h~• law or eyuity. anJ ma~• he c~ercited concurmntly, independently or successively.
~ 13. Successors aod Assi~~ Bonad: .Joint and Serenl i.iability; Captions. The covenants and agreements herein
contained shall bind, and the ~iRhts her~under shall inure to. ~he respective successors and assigns of Lender at~d Borrower.
subject to thc provicion~ of paragraph 17 hcrcof. All ~o~'cnants anJ agreements of Borrow~cr shall be joiry and several.
'il~e captions ~nd headings of the para~r.iphc ~f ~hic 1?~ortgage are for convenience only and are not to be used to
interpret or define the provicion~ hercof.
14. Nolice. Except for any n~.tirr rcyuirid undcr ap~~ic~Mc law to be given in another ~nanner. (a) any notice to .
Borrower prrnided for in this Mo~tga~c tihal) he givrn h}~ mailing tiuch n~tice by rcrtified mail addrecscd to Borrower at
the Property Address or at such uthrr addrec. as Burr..w~er ma~ decignate by notiee to i.ender as provided herein, and
; (b) any notice to Lender shall he gi~•. n b~• certified m.~il. retum receipt req~etted. to I ender s address stated herein or to
I such other addresc as I_ender may de~ignate ht~ n~ticc t~• Borr~~w•er.as pro~•ideJ herein. Any_notice provided for in this
! Mortgage shall he deemed to havc hccn ~ei~rn to B~rrc~wer ~~r Lender w•hen given in the manner designated herein.
15. Uniform MoriKa~e; Gnvernin~ i.aw; Se.•eraF~ilit~~. Thi~ form of mortgage combines uniform covenantc for national
~ use and non-unifurm ca~~enant~ ~+ith lemite~l ~:uiati~•n~ h~~ jurisdiction to constiteite a uniform security instrument covering
E real property. Thic Mortgage shall be governrJ h~• ~hc lau ~.f the juritdiction in which the Property is located. in ihe
~ , e"vent that aoy prnvision ~~r clau~e of thi. M~.ng~ee rr the Ni~te rnnflictc with app)icable law, such conflict shall not aBect
~ other pro~•isions of thi~ Mortgage ~~r the N~,tr ~hich can t+e given e(Tert _wi~hout the conflicting provi~ion, and to this
~ end the prmisions of Ihc Mortgagc and thr \c~tc :~rc ~I~rlared to he severable.
16. Bormwer's Copy. Borrow•er ~hall hc furni.hed confc.rmed cop} of the Note and ef this Mortgage at the time
4 of eiecution or after rccordation hereol.
17. Traasfer of the Propert~•; Acsumption. If ali ~~r am part of thc Pmperty or an interest therein is sold or transferred
~ by BorroK•er without I.ender's pri~r w•riti~n ~~~mcnt. e~cluding !al the creation of a lien or encumbrance sut~ordinate to
~ this Mortgage. (bl the crratu.n ~f :i ~ur~h.~.r m~~nr~ .rrurit~~ interest f~r housrhold appliances. (c) a tran~fer h}~ devise.
` descent or b}• operation of I;iK• upon thc ~lcath ~~f a i~~int tenant or i~i~ thc grant of an~~ leasehold imerest of thrcc ~~cars or less
~ not containing an option to purchase. Lender ma}~. at Lrnder'. ~ption, declare all the sums secured by this A1ortgage to be
I .
~ immediatel~• due and payahle. 1 rnder tihall h:,~r w:~~~rd ~urh option to accelernle if, prior to the ~ale or transfer. I.ender
~ and the person to whom the Propert~• i. t~~ hr ,~•IJ ~~r tr.~ncfcrrcd reach agrcement in writing that the credit ~f tiuch per~on
~ ic satisfacton' to 1.enJer and that the interr.t pa~~ble rn the ~um~ secured hy ~hi~ Mortgage shall be at such rate a~ I.ender
shall request. If I.ender has wai~~ed thr ~pti~.n t~. acceler.,tc pm~•ided in this paragraph 17, and if Borrower ~ wccessor in
~ interest hac executed a written as~um~~ion agreement accrptrd in writing b}• 1_ender. l.ender shall release Borrower from all
~ obligations under this Mortgage and the N~te.
; if l.ender exercise~ such option 1~~ acre(erate. I.ender .h:~ll m~il Borrower notice of acceleration in accord.incc ~.~~h
p paragraph 14 hereaf. Such notice shall provide a peric•d ~~f nnt les~ than 30 da}~s from the date the notice is mailed w•ithin
~ which Borrov?•er may pay the sums derlareJ due. If Aorniwer fails to pay such sums prior to the expiration of ~uch perio~,
~ l.ender may~, without further notice i?r dcmand on Borrowcr, im•okc any remedies permitted hy paragraph IR hcrcof:
NoN-Utv~FORtH Cove~~rvrs. Borrower,~nd I.enJer further covenant and agree as follows:
~ 18. Acceleration; Remedies. Fxcepl as pm.ided in pa~raph 1~ hereof. upon Borrower's breach of any corenant or
agreement of Borrower in this MortRa~e. includin~ the covenants to pay when due any snms secu~ed by this MortRage. [.ender
i prior to accele~stioo shall mail notice to Borrower as pro~~ided in paragnph 14 hereof specifyiag: (1) the brcach; 12) the actan
- required to curc sucb brepch; (3) a date. not less thao 30 dars from !he date tbe notice k mailed to Borrower, by which such
breach must be cnred; and (4) th~t failure to cure cuch breach on or betore t6e date specified in the notice may recnlt in
acceleration of tAe sums securcd by /his M11ortRaRe. fonclosun by judicial proceedir~ a~d sale of tAe Property. The notice
shall furthcr inform Borrawer of the riRhl to nin.ctafe afler acccleration and tbe right lo assert in the fareclosure proceedin~
tbe non-existence of a defauk or any other defe~e of Borrower to scceleration and foreclosurc. If the breacl~ is oot cnred on
~ or bcfore the date speci6ed in the notice, I.ender ~t t.ender's option may dcclue all of the sums secured by this Mort~af;e fo be
_ immediately due and payablt without further dem:,nd and may toreclose tbk Mort~a6e by judicial procetdieR. i.ender chall
~ be eoti8ed to collect in such proceedin~ all expenses oi foreclosurc. includin~, but aot limited to, reasonsbk att~~roe ~'s fces.
~ and costs oi wic~~nentary evidence. abstracls and litle reports. '
~ 19. dorrowe~'s Right to Reiastate. NMwi~h~~andin~ Lender's accekration of the sums xcured by thi• Martgage,
~ Borrower shall have the ?ight to have any procerding. Fxx~un I.ender to enforce this Mor~gage discont~nued at any time
' s~R~ 3U$ e.acE 190
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