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l.ender's written agraa~ent or applicabb I~w. Borr~ow~r sha11 p~y tlie amouM ot ail mortaaje iasuraace pnemiums in the ;
man~er provided under paragraph 2 heroof.
Any ~mounts disburaed by I.ender punwot to tha pangnph, 7~ with iptarest thereon, shal) become additional i
iodebtodness of Borrowcr s~urod by Ihis Mongage. Unless Borrower and I.e~der aaroe to othe~ tern~s of payaneM. wch i
amounts shall be payabk upoo nc~tice from I.ender to Bonower roquesting payment thercof. snd shall bea~ ioterest froea ihe ~
date of disburaement at the ate payabk from time to time o~ outstanding principai under the Note u~kas paymeat ot '
ioterat at :uch rate would be contnry to applicabk law, in which event such amouats shap beu interest at the hiahest rate i
permiasibk under applicabk law. Nothing contained in this paragraph 7 sha11 require Lender to incur aay eapeme or tate ~
any actioo hercunder.
S. iaspectbw. I~nder may make or cauu to be made rcssonabk entries upon and inspections of the Property. provided ~
that t.ender shall give Borrower notice prior to any s~~ch inspection specifyina rcasonabk cause therefor rclatod to Lende~'s ,
interest in thc Property. `
9. Co~de~nwstb~. The procetds of any award or claim for damages, direct or consequential, in rnnnection with any `
condemnation or dher taking of the Property, or pa~t thereof, or for conveyance i~ lieu of condemnation. arc hereby assignod ~
and shall be paid to I.ender.
in the event of a tolal taking of the Propeny, the proceeds shall be applied to the sums securcd by tfiis Mortaage.
with the excess, if any, paid to Borrawer. In_the event af a panial taking of the Property. unless Bomower and Lender ;
othenvise agree in writing. lherc shall be applied ta the sums securcd by this Mongage such proportia~ of the pmcoe~s !
as is equal to that proportion w~hich Ihe amount of ~he sumc secured by this Mo~tgage immediately prior to the date of !
taking bears to the fair market value of Ihe Propeny immediately prior to the date of taking, with the balana of the p~s
paid to Borrower.
If the Properry is ahandoned by Bor:ower, or if_ after notice by Lender to Borrower~that the condemnor oltecs to mate
an award or settle a claim for damages, Borrowcr fails ~o res~nd to Lender wilhin 30 days after the datt such notice is
mailed. Lender K authorized to collect and apply Ihe proceeds, at i_ender's option, either to rcstoration or repair of the ~
Property or ta the sums securcd by this MortgaEte.
Ur~ess Le~+de~ and Borrower othenvise agree in w•riting, any such application of proceeds to principal shall not eatend
or postpc~ne the due date ot ihe monthly installments referred ta in paragraphs 1 and 2 hercof or change ihe amount of
such installments.
10. Borror?er Not Rekased. Extension of the time for payment or moditication of amottization of the sums socured
by this Mongage granted by l.ender to any ~uccecsor in interest of Borrower shall not ope~ate to rekase, in any manner.
the liability of the original Borrower and Borrower's successors in intercst. Lender shalt not 6e rcquircd to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortizat~on of the ~ums ;
secured by this Mortgage by rcason of any demand made by the oriRinal Borrower and Borrower
s successon in intercst.
11. Forbearabce hy I,ender Not a Waivcr. Any forhearance by 1_ender in exercising any right or remedy hereunder, or
othenvise afforded by applicabk law. shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indeb~ednecs securcd hy this Mortgage.
12. Remedies Camnlst~e. All rcmedies provided in this Mortgage are distinct and cumulative ta any other right or
rcmeciy under this Mortg~ge or afforded hy law or equity, and may be exercised concurrently, independently or successively.
' l3. Secce~o and Assi~~s Eouad; .Ioint aad Sevetil I.isbility; Captbos. The covenants and agrcements herein
contained shall bind, and the riRhts hereunder shall inure to, the respective succes.wrs and assigns of Lender aod Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jniry ~nd uveral_
'The captions and headings of the paragraphc of this Mortgage are for convenience only and are not to be uced to
interpret or de6ne thc provisions he~ec~f.
14. Notice. Except for any notire rcyuired under applicable law to be given in another manner. (a) any notice to
Borrower provided for in Ihis Martga¢e shall be given hy mailing such notice by certified mail addressed to Borrower at
the Property Address or at such othe~r addresc as Bormwer mav designate by notice to T.ender as provided herein, and
(b) any notice to Lender shall he given hy certifieJ mail. return receipt requested. to i.ender s address stated herein or to
such oth~r addrcss as Lender may decignate by notice to Borrower as provided hercin: Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or l.ender when given in the manner designated herein. -
lS. Uniform MortRa~e; Goremin~ Law: Severability. This form of mortgage combina uniform covenants for national
ux and non-uniform coverrants with limited variations hy juriscliction to constitute a uniform security i~strument covering
~ real property. This Mortgage shall be goverried by the law of the jurisdiction in which the Property is located_ In the
' event that any provision or clause of thic Mortgage ~r the NMe conflicts with applicable law, such conflict shall not atTect
i other provisions of this Mortgage or the Note which can be given efTect without the conflicting provision, and to ihis
s end the provisions of the Mortgage and the Note are dcclared to be severable.
16. EomowePs Copy. Borrower shall bc furnished a rnnformed cop}~ of the Note and of this Mortgage at the time
of execution or after recorda~ion herrnf.
3 17. Transfer of tbe
Property: Assumption. I( all or anv part of the Propeny or an intercst therein is sold or transferred
~ by Borrower without Lender's prior writtrn consen~_ excluding (a) the creation of a lito or encumbrance subordinate to
€ this Mortgage. (b) the crcahon of a purchace mane~• ~ecurity interest for household appliances. (c) a transfer hy devise. .
~ descent or by operation of law upon the ckalh of a ju~nt tenant or (d) the grant of any Itasehold interest of three ycars or less ~
not containing an option to purchase. [.ender may. at I.ender'c option, declare all the sums secured by this Mortgage to be
~ immediately due and payable. Cender shall ha~•e Waived such oplion to accekrate if, prior to the cale or transfer. I.ender
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and the person to whom the Property ic t~~ be :oIJ or transferrcd reach agreement in writing that the credit of such person
~ is satisfactory to I_ender and that Ihe intere,t papable on the sums secured by this Mortgage shall be at such rate ac i.ender
shall rcquest. Tf [.ender has waived the option to xcceler:~te provided in this paragraph 17, and if Borrower s successor in
~ interut has executed a written assump~ion agreement accepted in writing by Ixnder, Lcnder shal) releaxe Borrower from all
; obligations under this Mortgage and the Note.
~ If I.ender exercises such option to accelera~e. Lender shall rrfail Borrower notice of acceleration in accordancr ~~•ith
~ paragraph 14 hereof. Such notice shall provide a peric~d of not less than 30 days from the date the notice is mailed vvithin
~ which Borrower may pay the sums declared due. If Borrower fails to pay such wms prior to the eapiration of auch peric~d, ~
r I~nder may, without further notice or demand on Horrower. invoke any remedia permitted by paragraph 1R hereof.
NoN-IJ~~FOxtit CoveN~NTS. Borrower and 1_ender funher covenant and a6rce as folloas:
l8. AccekrMios; Reaedka. L:csp as provided is para~npb 17 hereof. upo~ Eorrowers breach of a~y co~enant or
; sgreemeat of Eorrower ia this MortgsRe, i~cfudinR tbe rnrenaMs to par wbe~ doe aey sems secrred by ttifs Mort~s~e. i.ender
` ptior to acce{eration shaN mail aotke to dorrower as prorWed in para~rsph 14 bereof specif~g: (1) tbe brrac6: (21 the actbn
# req~ired to cu~e suc~ breacl~; (3) a dde, oot less tban 30 days tmm tbe date t6e notke Ls s~a8ed to dorror?cr. bY whkh wc~
; brcacb mmt be cored; aed (4) Ibat failure to cure soch bresch ae or betore tbe date speei6ed iu tbe aotice may result in
~ secdentbn of tbe sams aecured by thk Mo~tga~e. torcclowre ~ judkW proceedist aed sak of the Propertr. 71~e notke
shaq fnrt6er inforn Eorrower ot the to relnstate at~er sccekration and tLe rfaht to a~eK fa the forec{os~re prucecdin~
the now~e:kteace d a defaek or any M6er defense of Borrower to accekrntioa snd forecbsnn. If the bre~ch is not cured oa
? or 6efore the date speei6ed io tbe notire. Lender at [.ender's optbn may declart sN ot tMe s~ms secnred by t6is Mort~age to be
~ immedfately due sni psyable rritlaut fuNher dem:,nd ~nd msy forccbse t6k Maf=a~e by j~dkisl proceedtn~. i.rnder shall
~ be eatided to collect i~ sYCh proeeedia` aB expenus of foreclosnre. iucludio~, brt ~of Waitea to, reasoaabk att~,rneY's fea. °
~ snd costs of ouc.. we~tary evideuce, abstracts and titk rtporls.
~ 19. aorruwe~'s Rl~bf to Re~state. Notwithstanding Lender s acceleration of the sums securcd by thi~ Martgage, .
~ Borrower shall have the right to have any proccedm~ he~un hy Lender to entorce this Mongage~discontinued at any time _
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