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l.rndrr's wriucn agrcrmcn~ or applirahle law. HurroNCr shaU pay thc amuunt of all mongagc imuranre premiums in thc
manncr pr~~vid~.l under paragraph 2 hrreof. .
Am• am~~unl~ di~hurscd by Lc~J~r. p~i~uiant ti? this patagraph 7. with iotcrccl thcrcon, chall l+ca~mc additional
in~kb~cdnrs< <~f B~~rroNC~ uucurcd b~• tfiis Morl~agc. t;nlc.. Borro~~cr :in.l 1 cn.lcr aKr~c t~ o~hr~ tcrms ~.f paymcnt, euch
amountc ~hall tn pa~•ahle u~x~n ni~ti~e from I.rndOr tu B~~rrc~Hrr rryue.ting pa~•mrnt therraf, anJ ~h:~ll Fkar intrrect from the
~latc of di.bu~scmen~ at the ~ratr payahlc trom lime to time on outstanding principal under thc Note unlec~ payment of
interect at ~uch rate w•ould he co~tran• to applicable IaH•, in ~hich event cuch amounts shall hear interect at the highect rate •
permissiblc under applicablc law. Nothing contained in this paragraph 7 chall mquire I.ender to inc~ir any e~pense or take
:~ny actio~ hcrcunder. - • • ,
8. lnspection. I.ender may make or cause to be made reaconable cntriec u~+c~n and inspectionc of the Pm~ny, pmvided -
. that I endc~ chall give Borrowe~ nMice prior to any such inspectian speci(ying rcasonable cause theref~r related to Lender's
interrct in the Prc~perty. •
' 9. Condemnatbn. The prc~ceedc of~ any aw~ard or claim for Jamages, direet or c~~ncequential, in connection with any
condemnation or other taking of the Property, or pan thcreof, or for conveyance in lieu of rondemnation, arr herchy assigned
and shall he paid to•i.ender.
In the cvcnt of a ~otal takin~ ~f ~hc Pm~rty, the prcxctYls chall hc applicd to ~hc tumc cccurcd b~• thic Mort~agc.
wilh the e~cecs, if an~•, paid to Borrrw~er: In the eveot of a partial taking uf the Propert~•, unlcca Rorro~~er and I:ender
otherwicc agree in writin~. therc shall be applied to the sums securcJ hv thi~ Mort~age cuch pmpc.rlion ~f the proceeds
as ic cyual to that pmEx•rtion w•hich thc amount of thc sumc tecurcd h~• thi~ Mortgaec immcdiatcl)• prior b thc date of
taking bears to Ihe fair markct valuc of thc Property immediately pri~r to thr date of taking, Hith thc balanrc of the procccds
paid to Borrowtr.
if the Property ic abandoned b~• Bormw•er, or if. after notice h}• Lender to Rorr~wer that the rnndemnor ofTers to make
~n aN~~~d or cetNe a claim for damage~. Borrower fails to res{x~nd t~ 1_ender u•ithin z~ da~•s ~fter the date such notice. is
mailed. I.ender ic authorized to rnllect_ and apply the. prex:eeds. at 1_ender ~ option. either to rectoration or repair of the
Pro~xny or to the sums sccurcd h~• this Mortgage. ,
Un~css 1_ender and Borrou~er othcrv?•i~c agrcc in w~ritinc, an~ r~!(~I~ui~+mt1~, ncee~s to principal ~hall not e~tend
.ir Exxtpone the dUe aate of thc monthl~• installments rcferred t~~Y~~~l~tiercof or changc thc amount of "
such installmentc. ~}~y +s~ _ ~
1~ Borrawer Nol Released. Extensian of the time`f~~r pa~~ment or~c?difica~on~si amortizatic?n ~f the tumc securcd
by this Mortgage granted by l.cnder to an~~ cuccessar in ~interect of Borrower ~hall not aperate to rclcasc, in any manner.
the liahilit~• ~~f ihe original Borrow•er and Borrow~er's s~~ccessorc in interect. I_ender shall not he required t~ rommence
prucecJings againct such sucressor or refuse to e+ctend timr for payment or atherw•ice mc~dif~~ am~rtization i.f Ihe sums
~erured h~• thic Mortgage b~• macon of ant• demand made b~• the orieinal Borrower and B~~rmw•er s succestic.rc in interect.
11. Forbearance by Ixnder 1of a Wai~•er. .Am• f~.rhearai~ce h~• i.rnder in crercicing am~ right or remcd~• hercimder, or
~~therwise afTorded hy applicahle law, shall not he a wai~~er of ~r preclude the c~ercise of an~~ cach right or remedy.
Thr procurement of insurance or the pa~•ment of ta~es or other liens or chargcs b~~ I.ender .hall not he a~~ aiver of I.t7sder's
right to accclcratc ~hc malurity of thc indchtcdnr~s ~curLd hy thi~ 111ort¢aec_
12. Remedies Cumulative. All remediec prm•ided in this Alortgage arc distinct and cumidative t~ am• ~~ther right c?r
reme~h• under this Moe~g;~g~ or affordrd h~• la~~• ~~r eyuit~•. :ind ma~• he ~~ercikd concurn;nlly, independenth~ or ~uc~c~si~•eh•.
13. Succeswrs and Assi~ns Bound: Joint and Se~eral I.iabilih•; Captions. The co~~enants and agrcements herein ?
con~ained shal) hind, :~nd the rieht~ hereunder shafl inure to, thc n.~pective succetsors and ascigns of Lcndcr :md Rorrow~er. '
subject to the pr~+vision~ nf paragraph 17 hcrcof. All rovenams anJ agrcrments of Borrow•cr shall hc j~~im ;~nd se~•eral.
'The captions :?nd headingc of the paragraphe of ~his biortgagc are for c~meniehc~ only ~nJ are n~~t t~~ Fx: aised to
intcrprct or definc thc pm~~i~ions hcreof.
l4. \otice. Except for any notice required under applicahlr la~~ to be eivcn in anc~ther manner. (al am• natice to
Burmw•er pra~•ided for in this Mortgaee shall he given h}• mailing cuch notice b~• certified mail addreskd tu Borro~cer at
thc ProExny AJdre.~ ar at such othcr addrr« ac Bc~rr~~HCr ma~~ dr.ien:?t~ h~~ rn?tirr k, I.cndcr as pr~~vidcd hcrcin. and
Ihl an~- noticc to l.encler shall he given hy certified mail. return reccirt rcqur.ted, t~~ I ender. ad~lress statcd herein or to
wch ~.ther addresc as- I_cnder ma~~ designate b}~ ni~tice to B~rrower as pri~~~ided hercin. Ant~ noti~c providcJ for in this
\1nrtgage shall t?e Jeemed to hare tx:en given to Bormw~er or 1 enJer ~~hen ei~•en in the manner designatcd hcrein.
I5. L~niform rtort~;a~c; Co~•ernin~ i.aw; Se~~erabilit~•. Thi. frrm of mortgagc rnmbines ~miform crnenants for national
usc and nan-unif..rm co~•cnamc ~ti•ith limitc~l variati~~n, h~• juri~.lictiun ti• constilutc a uniform sccuritv instrumcnt covering
I real pm~xrt~•. Thi~ 14fortgagc shall t,c gu~~erned hv the law rf thc juri~dictii~n i~~ ~~•hich thr Propcrt~• i, I.x:alcd. In the '
'i c~~ent that any pmvisi~m ~~r clautie o( thi~ ;liortea~e ar Ihc '.\~~tc ci~nfli~•t. ith applicahle IaH~. such conflict ~hall not affect
! rthcr pr~~~i~iunc of Ihi~ ?1lnrtgagc ~~r thc Nnt~ whi~h can f,c ~_ivrn cfTrrt ~~ithout thc conflictine pmvi~ic~n. and to this
j cnd thr pmvi~iunti c.( thr Mi~rteaer and thr \otr :~rr ~Ic~larcd t~~ Fti .cvcraMc.
' 16. BomoN•er'-s Cop~. Borro~~cr tih;~ll t+r furni.hc~l a c~~nf~~rmcd rnp~• ul thc N~,tc and c.f thic Aiortgagc at thc timc
~ ut c~ecution or aftcr m«~rdation hcrcof_
17. Transfer ot the Pmpert~~; Acsumption. if alt ~~r an~~ p;ut of the Pmpert~~ or an interest thercin is s~~ld or trancferred
~ h}• B~rrower withuut Lender's prior writtrn ronknt. e~rludin~ la? the crrati~.n of a lien ~r encumbrance sutx~rJinate to
~ ~hic hfortgage_ Ih) the creation of a purrhasx mune~~ kcurit~ interest f~r h~u~ehold appliances. (cl a transfer h~• devise.
k de.eent or hy ~~~ratian of la~~~ upc.n the death ~~1 j.~int trnant c~r (~U the grant of
am• Ieas~ hold interest of three ~~ears or less
~ not containin~ an option ti• purchasc. Lender ma~-. at Lrnder'. ~~ptic~n. de~lare :ill the sums cecured hy this ~longage to be
immrdiatelt~ due and payahle_ l.ender ,hall ha~e ~~:~ivrd .nrh uption t~• acceterate if. pric.r ti~ the ~ale or transfer. I.ender
~ an~l the person to w•h~m the Propert~~ i. t~, Ix colJ ..r 1r;insfrrr~J rca~h agreemcn~ in writing that thc rreJit of sucF~ persan
sati~factorc te. I_enJrr :,nd th:~t the intere.t pa~~ablr ~m the .um. ucured h~~ thi. ~lorteage shall be at such rate ac I.ender
~ ~h:ill rcyuctit. If I cndcr ha~ w~ai~•cJ thr ~ptic~n t~ acrclcr.~te prrn•idrd in thic p:~ra,r:+ph 17, and if Borrow•cr's successor in
~ intere.t ha. e~ecuted a w~ritten as~umption azreement :~cceptcd in ~~~riting M• I.enJer. I.cnder shall release Borrow•er from all
~ ~~bligati~nc undcr thi~ 1lorteagc and thr Notc.
~ If Lender eserciccc such ~~ption t~. acrcler;~tr. Len.lrr .h;~ll mail Borrrn~er nMice of acceleration in arcordance ~+•ith
paragraph 14 hercof. Such notice ~hall provide a ~~ri~~~l ~.i nrt Ies. than 3(1 da~~. from the Jate the notice is mailed within
` ~~hich Bi.rruwcr mat• ~a~ thc sum~ Jcclare~l duc. If Rc.rm~~rr I:~ilc tc? p~~~ such tium~ pri~~r t~~ thc c~piralion ~~f such pcriod. ~
~ Lrndcr ma~•. with~~ul furthrr n~ticr ~.r demand on 13orruwer, in~oke am remedies permitted h~• paragraph IR hereof. ,
~ Noti-U~it-oK~~ C~>vF`.~vTS. Borrower and I.ender further cm~enant and agree as follows:
~ 18. Acceleration; Remedies. Except as pro~ided in pa~raph 17 hereof. upon Borrower's bmach of any co~•enant or
a~reement of Borroner in this Atortga~e. iacludin~ the co~enants to pay when dut am• sums secured by this Mortgage. I.ender
= prior to acceleration shal) mail notice to Borrower ac pro~•ided in para~raph 14 hereof specifying: (1) the breach: (2) the action
r required to cure such breach; (3) a date. not Iccs than 30 da~~s from the date the notice is mailed fo Borrower. by which such
' breach must be cured: and (4) that tailurc lo cure such breach on or before the date specified in the notke may resolt in
' acceleratjon of tbe sums secured by this 111ortgage. foreclosure by judicial proceediog and sale of the Pmperty. 'll~e notice
shall further inform Borrower of,the right to reinstate after acceleration and the right to assert in the foreclosure procetding
the non-eaistence of ~r default or any other defense of Borrower to acceleration and foreclosurc. If the breach iS oot cored on
" or before the date speci6ed in the notice. I.ender at Lender's option ma~~ declare all of the sums secured by this Mortgage to 6e
~ immediately due and payable without fuNher demand snd ma~• foreclose this Mortga~e by jndicial proceeding. Lender shsll
be enti8ed to colkct in wch proceedi~ ~II ezpenses of foreclosure, including, but not limited to, re~sonable attorney's fees,
~ and costs of documentary e~•idence, abstracts aod title rcports.
s 19• Borrower's Riqht to Reinslate. Notw~ithctanding LenJer's acceleration of the sum~ secureJ by this Mortgage.
~ Borrower shall have the right ta have am• proceedings hegun hy Lerder to enforce this Mortgage discontinued at any time
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~ BOGK ~US PAGE s47 ~
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