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Le~der's wrilten ngrcement or applicabk law. Borrowe~ shal? pay the amounl o[ all mortgage in:auance pr+emiuml in the
manner providccl undc~ paraa~aph 2 hereo[. - -
Any amounts disMirsed by I.enJer pursuant to this .p~j~ aph 7,~ with intcrest thereon, shall becomc additional ;
indeb~ednas of Borrowcr secured by this Mortgage. Unless Bbi~rowc? and i_enJet agrcr to other tertns of payment, such
amounts shall be payabk upon nc~tice from I.ender ta Bormwer requestina payment IhereoL and shall bear intercst from the '
date ofi disburscment at Ihe ratc payahk from timt to time on artstanding principal under the Note unless payntent ot ~
intercst at such ratr would be contmry to applicabk law, in which ev~t such amounts shall bear interest at the highest rate
petmiasibk unde~ applicabk law. Nothi~g rnntained in this paragraph 7 shall roquirc i.ender to incur any expense or take
any action hereunder. ,
S. Isspettioa, i~nder may make or causc to bc made rcasonabk ent~i~s i~pon and inspections of the Property, provided ~
that l.e~der shall give BoRawer nc~tice prior to any such inspectian specifying rcasonabk cause therefor related to i.ende~'s
interesl in the Property. ~
9, Condemaatioa. The prc~ceeds af any award or claim for damages, direct or cansequential, in connection with aoy ~
condemnation o~ other taki~g of the Property, or part thereof, or for conveyance in lieu of condemnation, are hercby assigned
and shall be paid ta I.ender.
In ~he eveot of a total taking of Ihe Proputy, the prcxecds chall l~e applied to the sums secured by Ihis Mortgage, .
with the cxcess, if any, paid to Borrower. In thc event of a partial taking nf the Property. unless Borrower and Lender ~
otherwice agrce in wri~ing. there shall be applied to the cumc secured hy this Mortgage such propottion of the proceeds ~
as is equa) to that proportion w•hieh the amounl of the sumc secured by this Mortgage immediatcly prior to the date of
taking bears to the fai~ market value of the Pmpcny immediately prior to the date af ~aking, with the balance of the proceeds t
paid to Borrower. ;
lf the Property is ahandoneei by Bor:ower. or if. after notice hy l.ender to Borco~~ver that the condernnor oRen to mal~e f
an award or setNe a claim for damages. Borrower fail~ to rc~~nd to l.ender within 30 days after the date such notice is
mailed. I.en~ler is authorized ta collect and apply the proceeds. at i_ender c option, either to restoration or repai~ of the ~
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ProE.rrty or to the sum~ xecured b~• this Mortgaee. ~
Unk'sc I.en~fer and Borrowe~ olherwise agrec in w•rihne, any such application of pre~ceeds to principal sha1) not extend
or ~x~stpone Ihe due date of the monthly in4tallmcnts referrcd ta in paragraohs 1 and 2 hereof or change the amount of ;
such~ inst~tlments.
10. Eorro~rtr No! Rekased. Fxtension of the time far payment o~ modification of amortization of the sums secured
by this Mort~age granted by I.ender to am «KCCCSOr in intcrctt of Borrow•er shail not ope~atc ta rclease, in any manner.
the liability of ~he origina) Borrower and &~rrower'c succesa~rc in interest. l.ender shall not be requi~ed ro eommence
pnxredings ag:~inst such successor or refuce to ertend time for payment or othen+•ice mc~dify amortizat~on of thr >ums
~ured by this Mortgage by reasc~n of any dcmand made by the orieinal Borrower and Borrower
s SIICCCSSOiS in imcrest.
11. Forbearaoct by I.ender Not a Walrer. Any G.rhearanrr by l.cnder in exercising any right or remc:lp hereunder, or -
Mhcrwise afiordeci by appiicable law. shall n~t he a waiver of or preclude the exercise of any such right oc remody_ ~
The procurement of insurance or the payment of tates or othe~ liens .x charges by I.ender shall not he a waiver of l.ender's
right to accelerate the maturity of ihe indehtedne~s secured h~• thic Mortgagc. ~
, 12. Remedks Cumulatire. All rcmedies providcd in thi~ 1liortgage arc distinct and cumu{ativc to any other right or ~
remedy under this Mortgage or afforded hy law or equity. :ind may he exerciced concurrently. independently or succecsively.
' l3. Successors and A~as Bound; ,]oint aad 5everal i.iaW'lity; Captbns. The covenants and agrcements herein
contained shall bind, and Ihe riRhts hereunder shall inure to. the respective successorc and asaigns of I.ender a~d Borro~~er. :
s~bject to the provisionc of paragraph 17 hercof_ All cavenants and agreemenl~ of Borrow~er shall be joiry and se~~eral.
71?e captions and headings of the pa~~eraphc ~f thia Mortgage are for rnnvenience only and are not to be uced to
interpret or deBne the provisions hereof. =
10. Nofice. Except for any noti.c rcyuircd undcr applicablc law• to be given in another manncr. (a) any notire to ~
Borrower provided for in this Mortgage shall he given hi mailing such notice bp certified mail addresced to Borrower at
i the Property Address or at ~ach othcr ~ddrec. a~ Bc•rmwer mav designate b}• notice ta l.ender as provided hcrcin, and ~
i (b) any notice to Lender shall he givcn h~ certified mail. retum receipt requected. to l.ender s addres~c stated herein or to
such other address as Lender roay decienate h~~ nntice t~~ Borri~v?•er as pro~~ided herein. Any noticc provided for in this '
' Mortgage shall Me deemed to havc i+ccn g~~•cn to BormN~cr ur l.cnder when given in the manner designated herein_ ;
~ 1S. Uniform MortRa~a GoverninR Iaw; Se.erabilih•. Thi~ form of mortgage rnmbines uniform covenants for national
~ use and non-uniform co~-enant~ with limite.l variationc M~ jurisdiction to rnnatitute a uniform security instrument covering -
! real property. This Mortgagc shall he ~toverned M• thr law~ of the jurisJiction in which the Property is located. ln the
~ event that ~ny provision or clau~e of thic Mortg~ee ~~r the N~~te conflicts Nith applicable law, such confliet shal) not aficet •
; o~her provisions of this Mortgage or the ~V~~tr which can be gi~•en etTec~ withou; the conflicting proviaion, and to this '
~ end the provisions of thc Mortgagc and the 'Vore arc dcclarcd to he severable.
16. Borrowe~'s Copy. Borrow•er thall !x furni~heJ a conformcd cap} of thc Note and of this Mortgage at the time
~ of execution oF after recordation hereof. ~
; 1~. Tnnsfer of fhe Property: Ascumplion. If all ~~r an~• part of the Property or an interest therein is sold or transferred ,
~ by Borrower without l.ender's prior writirn ~unu:m. e~cluding lal the crea~ion of a lien or enciimbrance suhordinate ta
r this M~rtgage. (b) the creation of a purrhau- m~~nr~~ .eruritc mterest f~r household apptiances, (c) a transfer h~• devise.
descent or hy operation of law• upon the Jca~h of a i~~~nt tenant or (d? thc grant of a~~• leaschnld interest of threc }'cars or lets
not containing an option to purchase, I ender m:,}•. at I.ender'ti option, declare all the sums secured hy this Mortgage to be
immeiiiatel}' due and payable. t_en~er ~hall ha~e ~ai~~ed su.h option to accelerate if, prior to the ~ale or transfer. l.enJer
~ anJ the person to whom the Propert}• iti tx :ol.l ur trantterred reach agreement in writing ihat the credit of .uch pen~n _
~ is satisfactory to i.ender and that !he interr.~ pa~able on the sum~ secured b}• thic Mortgage shall be at such rate ae [.ender `
~ shall request. If I.ender has waived the option to accelerate pro~~ided in this paragraph 17, and if Borrower ti~uccessor in
~ inte~est has executed a written assumption agreement accepted in writing hy I.ender. I_ender shall ydease Borrower from all ~
~ obligations under this Mongage and the Note.
s
~ If I.ender exercises such option t~ acceterate. LenJer shall mail Borrower notice of acceleration in accc?rdancr :~~~ti
~ paragraph 14 hereof. Such notice shaU provide a pericxi of not les~ than ?0 days from the date the notice is mailed within
~ which Borrower may pay the sum~ declared due. I( Borrower fails ro pay such tums prior to the expiration of cuch peri~xl.
3 Lender may. withc~ut further notice or dcmand on Borrower. invoke am~ rcmedies permitted hy paragraph !R hcreof_
~ Notv-UNtFORtit Covew~NTS. Borrower and Lender further covenant and agrce as follows:
~ 18. Accele~ioo; Remcdks. Excep as Pm.•ided in para~raph 17 he~eof. upoa Eormwer's breach of aey corenant o~
f agreemeet of Borrower in this MortgaRe. includin~ the covenants fo pay when due sny smns securcd by this Mort~agt. I.ender
- prior to accekntioa shall mail notire to Borrower as pro~ided in para6nph 14 hereof specifyio~: (f) tbe bresch: (21 the :etbn .
- required to cure snc~ brrac6; (3) s dste. not less than 30 days from the d~e the notice b maikd to sorrower. by which sucb
breach mu~t be cared; and (4) thst faiture lo curc snch breach oa or 6efore tl~e d~e speci6ed in the notice may r~suit in
; acceleration of the sums secored by thk Mortgs~e. forecbsure by iudkial ProceedioL and salt of tt~e Property. 71~e notice
$ shall furt6er inform Bomower of the rq~M to rciastste after sccekratbn and tbe rigbl to aae~t ia the foreclosure proeeedin`
c t6e oon-existeace of a defank or any otber defense of Qorrower to accekntioo and forecbsure. it the bre~ch is not cared on i
~ or before the dste speci6ed in tbe notice. l.ceder a~ Lrnder's option may declare sp of t6e mms se~wred by thls Mort~a~e to be '
immediatrly due snd psysble w~ithout further demand and msv foreclose this MortRa`e by jndicW proceedinR. i.ender chall < ~
~ be enatkd ~o coUa~ in sac~ proeeed;~ sN e:peases .~f foreclocu?e. includius. bet sot Bmifed to. reasoaabk att„rnr•r's fees.
~ sad cosfs of w~c~~oeatary eddence. abstracls snd lilk nports.
~ 19. Eorrowe~'s Ri~hl to Re~astste. Notwi~hc~anding l.ender s accderation of the sums securcd by th~• M.,rtgage. _
~ Borrower shall have the right to have any procecdmg. hc~un '1V I.ender to enforce this Mortgaqe discontinued at an}• time ? I
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