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I.rndrr's Hntl~n agncnt~ul ar appli~ablc la~~. {1~~rruH~r ~hall pay ~hr am.~unl uf all mort~+~gy i~i~ra~'~ pmmi~~~~~~hc
mann~ r pn~v~d~.1 undcr parag~aph 3 hcrcof. .
:~n~ am~~nnic di.burseJ h~~ I.~n.icr purwant tu this p:,r.~=;t:~~h 7, wi~h ~ntcrcu ~hcrcun. ~h:~li t+rc~~mr additional
in.(~Mcdn~.~ ~~f N~~rra~~•cr cecumd h~• ~hic \1ort~agr l'nlc.. B~rr.~~~rr an.i I rnJ~r a~rcc to ~~thr~ ~crmc ~~f paymcnt. ~uch
am~,unt~ .hall Ix pa~~a~11c~~y?~~~x~t~ fmm I enJrr w R.~rm~~~r r~yu~.~in~ p:~~~mr~i~ Ihcrc~~f, and ~h:~l) tkar int~rccl fn•m Ihc
~late ~f ~lichurccment i~t he~ rntb pa_~aMe ir~•m time to time nn ow.t:~ndine prinripal imdir 1he ?~'ote unlecc payment af
interest at surh ~ate ~.~ou1J t+e con~rar~• tr arpli~ahle I~w, in which e~•eM cuch amounts tihall hear interecl al the highect rate
{k:rmisaihl~ under applicable law•. Nothing contained in thic paragraph 7 cha21 requirc t ender ta incur any expenu or take
any ar~ion hrrcundcr. , . .
8. Insprction, i.ender may make or rause to he made rcaconahle en~riec u~on and inspecti~~n~ of the Pr.~~xrry. pmvideel
that LenJer ~hull give BoROwer notice prior to any su~h inspectic?n c~x:~ifying reasonable raux thercfor related to l.ender's -
in~cre~t in thc Prope~ty.
9. Condemnatbo. Th proreeds of :?np a~:~rd o~ claim for damag~s, direct or rnncequential, in connec~io~ with any '
randemnalion or Mher takin~e of the Rrapert~~, or part thereof, or for conveyance in lieu of condemnati~~o. are herchy ascigned
and ~hall hc ~aid to I_cndcr.
in the event of a total t~king ..f thc Pm~r~y, the pnxeeds ~hall he applieJ to the ~um~ kcurcd hy thic MortgaRe.
w•ith the e~eecs. if an~•, paid to Borr.~wer.~ in the event af a par~ial taking uf the Properl~•. unle:c Rorrower ~nd i.ender
otherwice agree in writin~. them shall'he applied to the ~ums ,ecund hy thi~ M~~rika~c ~uch pmpc~rtiun ~f the proceeds
as ic eyu•rl to that pm~x~hion tihich the an~uun! of the sumc .ec~ired hy ~his ~lortgaee immrdiatel}~ prior ti~ ~hr date of
taking bears to thc fair market valuc of thc Propcrty immcdiatel~• pri~.r to thc Jate of Iaking. ~~ith thc haluncc of thc prckceds •
paid to Borrower. '
If the Properry is abandoned br Bormwcr, or if. after notice hy i.ender to $orn.wer that the condemnor offers to make
an award ~•r sculc a claim for damage~. Borrowcr fails to r~y~+c~nd t~~ l.cndcr W ithin i0 d~~•s afler thc da~c cuch noticc is
mailed. i.ender is authorized ta collect and apply the prc~ccedc. at l.ender'~ option. either to restoration or rcpair af the
i'ro~x:ny or ~o the sums sccured hy thi~ rlortgagc.
L?nlcs. l.cndc~ and Borrowcrothcnrisc agrcc in ~~ritini. an~• surh ap~lir,uirn of prc~cccdt t~ prinripal .hall not c~lend
or ~.tponc ~he duc d:ue ~~f thr munthl~• installmcros rcferrcd t~~ in ~+:+r.igraph~ 1:~nd 2 hcre~f ~~r chans~c th~ amount of -
~uch in.tallnlentc ~
10. Bormw•er Not Released. t~~tensi~n of the time f~~r pa~mcnt or mcxlificatic?n ~f amortiiation of the ~umt securcd
by this Mortgagc grantcd by I.~n~cr t~~ am~ succeccor in intrr~~t ~~f Borrowcr ~hall not o~x:rale to rclcasc, in any m~nner.
the liahilit~• of thc original Burro~vcr and Borrowcr's su~r~s~on in intcrcct. I.cnJcr ~hall n.~t hc rcyuire~ t~. ~ommence
pnkee.lings againcl such sur~ecsor refuci: to ectenJ time for pa~•ment or othenci~c mculift~ am~~rtizalion ~.f the sums
,erured h~• thi~ Mortgage h~• reacon of am~ demand madt h~~ thc rri~inal [3orruH•er and A~•rmw•er s si~ccr~~or~ in interest.
11. Forbearance by I.ender ~ot a R'ai~•er. .4m• f~rFxaranr~ h~• 1 rndcr in e~crcieine :?m~ right or rcmrd~• hcrcundcr. or
~~Ih~rH~i~e a(Turded h}• a~plicahle law•. ~hall not he a w:~i~•~r ~+1 c~r preclude the exercice of ~n~• ~uch right ~r remedt•.
The procurement c~f insurance or thc paj~mem ~•f ta~es or ~~thrr liens or chargr~ h~• Lender .hall not be a~+aiver c~f I.ender'~
right to acr~lcratc thc maturit~• of th~ indchtrdnra ~~:ured M thic \lontagc.
12. Remedies Cumulati~•e. AU remedics pro~~ided in thi. '~lnrtgae~ arc ~listinct anJ cumulativc to am• .~thcr right or
remrJ~• undcr thi. ~4~ngagc ..r atf~~rdrd h~• law~ ~.r eyuit~. :u~d ma~• hc c~ercis~J r~~ncurrcntly. independenth• ~,r ,u.rc~sivch•.
13. Successor4 and AcsiRns Bound: Joint and Se~eral Liabilih•; Captions. The covenants and agrcement~ herein
cotilained cball hind. and thc rieht. hercunder shall im~re tc?. thc res~cti~•e suece~son and accignc of LenJer and Rc~rrow~er.
.ubj~ct to ~hc pro~i.ion~ i~f raragraph 17 hcreoL All ~a~•rn~nts a~id :igrcrment~ of B~rrow•cr shall Ix j~~int :~nd sc~•cral.
Thc ca~ti~~n~ ::n~l hcadin,, of thc par:~gra~~hti of thic M~~rtcak~ arc for comrnicnce ~~nh• .~nd arc n~~t t~~ tx u~cd to ~
inlcr~r~t c?r dcfinc thr ~r~~•itiion` hcrc~f. ~
14. '.~otice. E~cept f~~r an}• notire ryuired un~lcr :~rri~;:~hlr la.~ to he gi~~.n in an.~ther manner. (:il aiie noti~e to '
Burre.w•cr pn~vidcd for in thiti ':4lortga~e shall hc gi~~en h~ m:ulim~ ,urh n~~tic~ h~• c~rtified mail addm~~rd t~~ Aorm~~er at
thc Pr~~xrt~~ A~IJrccc ~~r at cuch uthcr aJdre.s as B~~rnn~cr ma~~ dc.i~natr hr nuticc ti? 1 ~ndc:r as pm~•idc~ hcrein_ and
(hl am n~~ticr to I railer ~h,~ll hc ei~~rn hv ccrlificJ mail. rrtnrn reccint rrUUr~tcd. t~ 1 cnder', address statcd hcrcin or to
~ueh ather addrcc. ac Lrndtr ma~~ drsienate M notirr t~. I3rrr~•~~•rr ac rrr~•i:le~i hercin. :~n}' notiee pr.n•idcd (ar in thic
I :~i~~rtgage shall Fx dermcJ to hn~c t~een tii~•en to Borm~~er nr I rndrr ~+hrn eivcn i~i thc manner decignated hcrcin.
15. L'niform ~1ortRaKe; GIIYeTO1f1Q I.JK; Severabilit~. l hi. f~~rm mc?rtgaec ~•~~mhines uniform r~~~en:~nh fnr n:~tional
i
u.c a~~i ni~n-uniform c~~~c~eant~ with limit~.! ~~ariatiom h~~ ji+ri.d~cti~~n to r~~mtitutc a unitorm ~r~unty im~rumcnt rnvering
~ rcal proExrt~~. l~hic 11one.~gr sh:ill tx guverned h~• the laW of thc Iuri~Jirt~on in which the Property ic I~kated. In the
~vent that :~m• provisii~n ~~r rlaucr of thi. ~I(lr(L'3!~r i~r ihe \~~te r~~iftlict. ~cilh appli~ahle law~. such conflict ~h:+ll not affect
i ~~ther rm~i.i~~nc ~~f thi~ 11t~~rtea,r or thc \i~tr ~shinc ~.?n bc ~i~~n ctTcct ~aith~•:~t Ihc ~onflictine pm~~icii,n. and to this
E ~nd th~ rn+~~i~ium ~f the A1cirl¢:tYe and Ihe \i~Ir :ire ~ti.lared t~~ h~ ~~~'eraMe.
~ 16. Borrowcr's Copc. Burrc~~Ccr ~hall t?r furni.hr~l a a~nG~rmrd «~p~ .~f the \~.tc and of this ~1ort~agc. at lhc timc
k ~~f cxccution c.r aftcr rcr~~rdation hereof_ ~
~ 17. Transfer of the Property; ~~~.sumplion. If al! rr an~ n:~rt of thc Pr~~Ex rt~~ ~~r an imerest thrreid i, sald or tranaferred
t hy BorraH~r withuut Lrndcr's pri~~r wriurn ~uncrm. r~cludine 1:~1 !hc rrcatiun a lic~i c.r cncumhranc~ sutx~rJinate to
~ thi~ Mor~~age_ (h) the rreation ~f pur~h:?.e m~~nec .ecuriti intrrest f~~n c~.u~chuld aprliancec, (cl a trancfer h~• devise.
~ de,c~nt ~~r h~~ ~~Exr:?lion of I.~~+ t:pon the ~Icath rf juint Irnam ~~r (~1~ the crant of am Ieacehold interest ~f thr~e }•ears or lecs
not containing an option tn purchasc. I.cn~lcr ina~-. :~t Lcndcr'~ ~~rti.~n. dr~l:~rr all thc sum~ sccurcd b}~ this Mortgage to bc
~ imm~~iat~l}~ dta: ancl pa)~ahlr. 1 rndcr ,hall ha~c ~~:~i~r~i .urh ~•pti~~n t~~ acc~lcratc if. pri~~r to the ~alc e.r transfer. Lender
anit thc ~rson t~ whont Ih~ Pro~rty ic t~~ bc ti~~l~t or trans(~rr~d ira~h aerermcnt in w~nting th:~t thc crcdit of wch pers~n
~ i. s:?titifacl~?n t~ Lend~r and th:rt the interr.t pa~:~hlc rn th~ tnm. .rrured hc thi. ~iortgage ~hall be at surh rate ac Lender
~ shall requcst. IE l.ender has M•aived the option to .,ccclrr:~~e prc.~~idcd in this paraLraph 17. and if Borrowcr'~ successor in
~ interect ha~ executed a written ascumption agreement arce~ted in ~~~riting h~• Lender. Len~ler shall releace Borrow•er from all
.?bligations under this Mortgage and the Note.
~ If [.ender e~erciuc cuch c•ptii.n to arcrlrrate. Leniler .h:ill R~ail Borro~•cr nMice i,f acceleration in accordance w•ith
~ paragraph 1~3 hcrcof. Such noticc ~h~ll pruvidr a pcrio~l ~~f not I~sti than 30 da}•. fmm thc date the noticc is mailcd within
~ which Borr~n?~cr ma~~ the sums declare.l dur. I( Be•rn.~~.r fc:ilc t~~ a~ surh ~umc riur t~~ the e~ iration ~~f wch ric~d.
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~ Lcn~fer ma}•. ~~ith~•i~t furthcr notice ~~r drmand ~~i: It~,rro~rr. m~~oke an~ remedies permitted b~• paragraph iR hereof.
Nox-Urv~FORt?s Cove~vA!vTS. Borrower and (_cnder funhcr covenant and agree as follaws:
- 18. Acceleration; Remedies. Fxcept as pro~•ided in para~raph 17 hereof, upon Borrowe~s breach of any co~•enant or
agreement of Borrower in this ~iortgsy~e, includinR the co~ enants to pav w hen due an}~ snms secured by thts Mortga~e~ i,ender
~ prior lo acceleration shall mail notice to Borrower ac pro~•ided in para~;raph 14 hereof specifying: (1) the breach; (2) the aetioa
required to cure such breach; (3) a date. not less than 30 da~s irom the date the notice ~s mailed to Borrower. by vrhic6 such
breach must bt cured: and (4) that failure !o cure such breach on or beforc the date specified in the notice nwy result in
acceleration of the sums secared by this ~lortga~e. forcclosurc by judicial proceedin~ and sale of the Property. 'il~e notice
shall funher inform Borrovser of the riRht to reiastate a(ter acceleration and the right to assert in the foreclosure pmceedin~
~ Ihe non-esistence of a default or an~ other de(ense of Borrower to acceleration and foreclosure. If the breach is not enred oa
o~ before the date speciRed in Ihe notice. Lender at l.ender's option ma~- declare afl of the snms secnred by ti~is Mortgage to 6e
~ immediately due and Payable withoot furlher demand and may foreclose this ~tortRage by judicisl proceedi~. Lender shWl
~ be entitled to coqecl In such proceedin~ all expenses of foreclosurc, including. but not limited to, nasonable attoraey's fees.
~ ~nd co6ts of documentary evidence, ~bstracts and title reports.
~ 19. Borrower's Right to Reinstata Notw•ithctanding I.en~er s acceleration of the sums secured by this Mortgage,
~ Borrower shall have the right to have any proceedings begun by I_ender to enforce this 111ortgage discontinued at any time •
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