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l.ender's w~tten agroement or I~pplicabk Iaw. Borrowu shall pay thc amcwnt o[ all moMaage insuraace premiums ia tbe
manr~er providcd unde~ puagnph 2 hereot.
~ Any amwmts disbursed by l.tode~ purwant to this pananph with interest theceon. shali become sdditional
indebiedness •of Borr~wcr secured by this Mohgage. Uokss BoROwe~ and I.ende~ aaroe to othe~ ternu of paymeA~ wch
amounts shall be payabk upon nMice frcxn I.ender to Bonower rcquestin8 paYmeM thereof, and shall bea~ inte~est froen the
date of disbursement at the rate payabk frOn1 time io time on out:landin~ principal under the Note unlau pa~t ot
intercst at such nte would be contrary to applicabk law, in which event such amounts shall bear~ interest at the hial~est rate
penr~issibk unde~ applicabk law. Nothing co~tained in ~his paroaraph 7 shall require Lendet to ineur aay eapetae or tdte
a~y action hereunde~.
S. iasMeetio~, i_ende~ may make or cause to be made rcasa~abk entries upon a~?d inspoctia~s ot the Prupertp. provided
that 1_e~de~ shall Rive Borrower ndice pric~r to any such inspection specifyina rcuonabk cause therefor rclated to I.q~dePs
inlerat in the Propeny.
9. Co~dew~aalion, 'fhe proceeds of any award or claim for damages, direct or consequential, in rn~nectioe ~rid~ anr
condemnation or other taking of the Property, or pan thercof, or for conveyance in lieu of condemnation. ue henby assianed
and shall be paid la I.eoder.
1n the event of a total taking of the Property. Ihe procccds chall be applied to the sums xcured by this Mataage.
with the excess, if any, paid to Borrawer. In the event of a partial tal:ing of the Property. unless Bomower and L~der
otherwise agroe i~ writinR. there shall be applied ta the sums securcd by this Mortgage such propottion of the pr~noeedt
as is equal to that proporiion v?hich the amount of ~hc sumt securcd by this Mortgase immediatdy prior to the date ot '
taking bean to the fair market value of the Propeny immediately prior to the date ot taking, with the balanoe of the pr~ooeeds
paid to Earrowe~.
if the Fto~erty is abandoned by Bor:owe~. or if. afte~ notice by Lender to Borrower that the condemnor offets to mate
an award or settle a claim for damages. Borrower tailx to res~ond to Lender within 30 days after'the date such notioe is
maikd. Lender is authoriud to colkct and apply the proceeds, at i.ender's option, eithe~ to restotation or ~epair of d~e ;
1'roperty ar to the sums securcd by this Mon~tage.
llnleu Lender and Borrower othervrice agrce in writing, any such application of proceeds to principal shap not eattend .
or postpone tht due date of the monthly installments referred to in paragraphs 1 and 2 hereof or chanae the amount ot
such installmeMs.
10. ~rower Not Rekased. Extension of the time for payment or moditkation of amortization of the wms axured
by this Mortgsge granted by Lender to any cucce~sor in intercst of Borrowtr shall not opente to reksse, in any manner, =
the liability of the original Borrower and Bc+rrower'c succasors in interat. Leoder shall not be requircd to commer~ce `
proceedings against such suocessot or refuse to e~tend time for payment or otherwix modify amortization of the sums
securcd by this Mortgage by rcason of any demaod made by the oriRinal Borrower and Borrower's successors in intercst.
11. Forbeara~ce by i.e~der Not a Waiver. Any forheannce by Lender in exerci:ing any tight or rcmody heretmder, or
othervvise aBorded by applicabk law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procureme~t of insurance or the payment of taxes or Mher iiens or charges by Lender shall not be a waiver of Lender's
right to accelente the maturity of the indel~tedness cecured hy this Mortgage.
12. Rerwedks C~ehtl~e. All remedies provided in this Mo~tgage ar+e d'utinct and cumulative to any other risht or
rcmedy under this Mortgage or aRorded by law or equity, and may be exercised concurncntfy. independtotly or s~ively.
' 13. S~ccearors s~d Aad~s Sound; Joht a~d Sered i.iabiliry; CaptM~s. The oovenants and asreements herein
, contained shall bind, and the rights hereunder shall inur~ to, the.respoctive successors and sssigns of Lender apd Bort~ower.
subject to the provisions of paragraph 17 hercof. All covenants and. agroements of BoROwer shall be jary and sevenl.
The captions' and headings of the parogrrphc of this MoNgage arc for convenience only and ue not to 13e ~aed to
interpr+et or define the provisa~ hercc?f.
ie. Natke. Except for any notice rcquircd under applicable iaw to be given in another manncr, (a) any notiee to -
• Borrower p~+ovided for in this Mort~taee shall be given by mailing such notioe by certifled mail addressed to Borrower at •
the Property Address or at such wher address as Bormwer may designate by notice to T~nder as provided hercin, and
' (b) any notice to Lender shall he given by certified mail. rcturn ~eceipt requestod, to Lender's address stated hercin or to
' such other address as Lender may designate by nc~tice to Borrower as provided herein. Any notict prnvided for in this ~
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner desian~ted herein.
15. Ueitoro Mort~e; Go~eruiu~ I.aw; SeverabilNy. This form of mortgage combina u~iform covenants for national
~ use and non-uniform covenants with IimiteJ variations hy jurisdiction to coratitute a unifonn security instrument ooverina
~ real property. This Mortgage shall be governed hy the law of the jurisdiction in which the Property is Wcatod. In the
; eveot that any provision or claux of thic Mortgage or the Note conflicts with applicabk law, such conflict shall not aHect
~ other provisions oT this Mortgage or the Note which can be given eQect without the oonAicting provisan. and to this
i eod the provisions of the Mortgage and the Note arc Jeclared to be severabk.
~ lf. ~on+ower's Cory. Borrow~r shall be furnished a conformed cop~• of the Note and of this Mortgage at the time =
i of exceution or after recordation hereof. ;
S 17. .TraMter of tre lrope~ty; Aasna~ptiow. 1f all or any part of the Property or an interat thercin is sold or tnnsferred ;
~ by Borrower without i.ender's prior written consen~. excluding (al the creation of a lien ~ a~cumbnnce wbordinate to
S this Mortgage. (b) the creation of a purch3~e money ~ecurity intercst for household appliances, (c) a transfer hy devise,
desoent or by opention of law upon the ckath of a join~ tenant or (d) the grant of any kaxhold interat of threc years or less
not containing an option to purchase. Cender may, at Lender
s option, declare all the wms ~ecured by this Morigage to be
immediately due and payable. iender shall have wrived u~ch option to accelerate if. prior to the cak or transfer. Lender
and the person to whom the Property ic ta be co1J or transferred reach agrcement in writin~ that the crcdit of cuch percon
is utisfactory to Lender and that the interc~t payable on the sums secured by this Mortgage shal) be at auch rate ac Lender
shall requat. if Lender has waivod the option to accelente providcd in this para~aph 17. and if Borrower
s succasor i~
interat hu ~xecuted a written assump~ion agreement accepted in writing by Lsnder, Lendu shall rekase Borrower from all
obliyuions under this I?~rtgage and the Nae.
If Lender exercises such option to acceterate. Lender shall mail Borrower notice of accekntion in accordanc-~ w•~~h
para~nph 14 hereof. Such notice shall provide a period of not las than 30 days from the date the notice is mai(ed within
which Borrower may pay the suma declared due_ If Borrower fails to pay such u~ms Qrior to the espintion ot cuch period,
I.ender may, without turther notice or dcmand on Barrower. invoke any remedia permitted by panarsph 18 hueof.
~ '
~ Nont-Un~FOatN CoveHerrrs. Borrawer and Lender further covenant and a~roe u follows:
~ li. Acederatio~ Re~eala. Escept as provNed i~ p~nK~yM 17 I~ercol. ~~onrwers Me~e~ et a~y c~~e~N K
~ a~roe~t of ton+o~?e~ i~ tris Ma1~a~e, i~ei~i~ tLe corewa~ts to p~y whe~ a~e a~r s~w~ aee~ y tY~ Mo~qta~e. i.es~er
s peior a accdeeatlo~ ~ waq woNce to iorrower as ~o~ideA b~rapA 14 rereol qeeltyl~ p) tre bnsc~: (21 tre sclio~
~ nq~rei b cwe s~cr ~e~eaer: (3) a d~te, ~ot las t~ 30 dsys tro~ tLe aale tre ~otke b ~Ye! 1s ~ee~w~r. b••Ukb sreb
~ ~escr ~rt ~e e~ a~d (1) tMat hil~ne lo aw~e wcw Meac~ o~ os relore t~e aate qeei~ei i~ tbc ~Wke ~uy.~srlt 1~
~ .ecde.atlow ot ue w.. see.rcd by diN Mo~aRe. to.celos~re b~kW ~oes~t aw~ sale ot nie r~erty. ~nie .odce
~ .W tu~er i~tees~ sonower ot a~e ri~M11o reiwswe atter aeeek~stto~ s¦~ el~e rt~t a are~t i~ el~e t«~eeia~re_Noc«a~.~ ~
~ Ire ~Me~ee at a ~ets~lt or awf otbec dete~se o1 ioROwer te ~ecekeatiow a~i twsclow~e. N He keae~ b~ot e~e! a~
~ or betare d~e ~Me qeeiiei i~ fre ~ofiet. Lesder a11.e~8e?'s optiow ~ dtehne aN ot tre ww~ see~esi i~ fldr Morl~e 1~ be ~
~ i..~eai~My are ..i ~.ys61e ..ill~od r.rthe. aemana and ~ toree~o.e n~i. Me~tt~ b i~W r~~R. I.ende..h.Il
~ be e~tltlei /o a~oieet 1~ s~ ~ e:pe~es wf forsclosrre. M~el~~i~. ~t Mt ~ile~ 1~. rew~able stt.xeer's Eees. !
~ a~i eo~tt at ioe~e~hr7 e~l~ewee. a6drscls s~i titk rep~b. :
1!. Mrro~wa's Rl~IN t~ Rel¦wte. Nc~twithstandinE Lender
s accekration of the sums secured by tbis Monaaje.
~ Borrowret shsll have the risht to have any proceedings hegun hv Lendtr to en[orce this Monpae discontinued at any time
~ ~
{ 312 ~a~T~149.5
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