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l.ende~'s writte~ agroemeat or applicabb law. Borrowe~ shall pay the amount ot sll mortgage insurance prcmiums in the
man~cr provided unde~ pa~aa~aph 2 heroof. .
Any smounts disbuned by l.ender punuanl to this pa~aa~aph 7. with iatctest thcrcon, shall become additional
indebtedneu ot Borrowcr secured by Ihis Mohgage. Unkss 8ono~w~er awd Lendet aaroe to other tetms of paymed. wcli
amounts shali be payabk upon ~cNice from I.ende~ ta Borrower requeslin~ psYment therea(. and shall bear interc~t tt~n the
date ot disbursemeM at the ntc payabk f~om time to time oo a~tstandin6 principal u~der the Note unkss pajrment ot
intercst at such rate wo~ld be contnry ta applicabk law, in which event such amounts shall 6ear interest at the hithest r~a
~ permissibk under applicabk law. Nothina contained in this pananph 7 shsll require I.ende~ to incur ar~y expaae or tate
any action hereunder.
S. I~ecMo~. I.ender may make or cause to be made rcasonabk entries u~wn and inspectioru ot the PropeAp. pr~ovided
that I.ender shall give BoROwer natice prior ta any such inspection spocifying rcasonabk cause therefw rolated to [~ender's
interat in the Property. '
9. Co~ewu~tio~. The p~oceeds of any award or claim for damages, dircct or consequential, in connection ~?ith any
condemnation or other taking of the Property, or paK thercof, or to~ conveyance in lieu ot condemnatioo. are herc~? as~i~ned
and shall be paid to Lender.
in the event ot a t4ta1 lakina of the Propeny, the p~ocoeds chall be applied to the sunu xcured by this Mortsa~e.
with the excess. it any, paid to Bonower. In thc event of a panial taking ut the Property, unlas ~Borrower and i.eode~
otherwise agree in writin~t. theK shall be applied to the sums securcd by Ihic Mortgage such proportion of the prooeed~
as is equal to that proportion w•hich ~he ama~nt oi ~he sums secured by this Mortgage immediately prior_to the date ot
talcina bears to the fair m:~ket value of the Property immediately prior to the datc of taking, with the balance of the prooee~-
paid to Borrower.
if the Propeny is aUandoned by Bor:ower, or if. after notice by I.ende~ to Bomower that the condetunor olka to make
sn avrard or xttk a claim for damages, Borrower fails ~o respond to Lender within 30 days after ~the date such notioe is
maikd. Ix~de~ ix authorized to callect and apply the proceeds. at l.ender's option, either to t~estoratioe or repair o[ t6e
Properiy or to the sums sccurcd by Ihis Mort~tage.
Unless Lender and Borrower cNherwise agree in writing. sny such application of proceeds to principal shall not exta~d
or postpone the due date of the monthly inslallmen~s re(ened to i~ paraaraphs 1 and 2 hereof or chanae the tmou~t o[
such installments.
tA. DoROwer Nof Rekasea. Extcnsion af the ~ime for payment or moditkation of amortization ot ~the sums secured
by this Mortaage granted by i.ender to any cuccessor in interest of Borrower shall not operate to rckax. in any mannet.
the lisbility of the original Borrower and Borrowcr'c s~kcesson in intercst. i.ender shall not be requircd to tanmenoe
proceedings against such succestor or rcfuce to ertend lime for payment or othervvise modify amottiution of Ihe sums
securcd by this Mo~tgage by rcuon ot ~ny demand made by the original Borrower and Bc~rrower's wccesson in interest.
11. Forbeara.ce by I.e.der Na a w,i~er. Any t~fitarance by 1_ender in exercising any right or romedy herttmde~. or
otherwise aftorded by applicable law. shall nc?t be a waiver of or prcclude the exercise of any such ri~ht or rtmedy.
The procurcment of insuranoe or the payment of taxes or other tiens or charges by I.ender shall not be a waiver of Lendet's
rigfit to accelentc the maturity of tht indehtedness ~ecurrd hy thic Mortgage.
12. Rewedies C~a~e. All rcmed'ea provided in this Mortgage are distinct and cumulative to any other riaht or
rcmedy under this Mortgage or alforded hy law or equity, and may be exercised concurrcntly, i~depen~kntly or :uccessively.
' 13. 3~eaYnors awd AadR~s Soand:.lo~t sad 3efeal I.IabWry; Captis~s. The covenants and a~reements hercin
contained shall bind, and the rights hercunder shall imir~ to, the.respoctive successors and sssig~s of L.ender apd Bon+ov~*e~.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Bottower shall be jary and several•
77~e captions~and headings of the paragraphc of this Mortgage arc for convenience only and a~e not t~ !9e uxd to
interprct or de6ne the provisans hercc?f.
14. Notke. Except for any notice rcq~~ired unde~ applicable law to be given in anothet manner, (a) any notice to
Borrower pSovided for in this Mortgage shall be given by mailing such notice by certifled mail addressed to Borrower at
tfie PropeRy Addrcss or at siuh dhcr address as Bormwer may designate by notice to T.ender u provided herein, and
(b) any notice to Lender shall he given hy certified mail. retum rcceipt requested. to i.enders address ftated hercin w to
such other address as Lender may designate by n~?tice to Borrower u provided herein. Any tatice provided for in this
Mongage shall be deemed to have been given ta Borrower or l.ender when given in the m~nner dasip~ated herein.
' lS. U~iton~ Mort~e: Go~ersis~ Law; Se•erabNity. This torm of mortsage combina uoiform coveoants for natiooal
~ use and ran-uniform covenams with limitec! variations by jurisdiclion to constitute a uniform ~ocurity insttument omrerina
i
~ real property. This Mortga6e shall be Roverned hy the law of the jurisdiction in which the Propetty is located. In the
! event that aoy prmision or clause of thic MoAgage or the Note conAicts with applicabk law, such canAict sha0 not alket
~ other provisions of this Mortgage or the Note which can be given effect without the conAicting provision, and to this
f end the provisans of the Mortgage and the Note arc ~kclarcd to be sevenble.
~ lf. 1on~we~s Co~r. Borruwer shall be furnished a conformed cop~~ of the Note and of ihis Mortgaae at the time
~ of execution or after recordation hercof.
l7. .T~ler of t4e rro'e~fy: Aswmpliow. 1( all or any pan of the Property or sn interest thercin is sold o~ transferted
~ by Borrower without Lender's prior wrincn consem. excluding (al the crcation of a tien or encumbrance wbordinate to
this Mortgage. (b) the crcatu+n oF a purchace money security intercst for household appliances. (e) a tnnsfer hy devise.
descent or by operation of law upon the death of a joint tenant or (d) the 6nnt of any kasehold intercst of threc years or kss
not containing an option to pur~chase, Lender may, at Lender'c option, declare all the sums ~ecurcd by this Mortsa~e to be
imtnediatety due aod payable. Lende~ shall have v?••rived such option to acederate if, prior to ttie sak or transfer, Leoder
and the penon to whom the Property ic t~. be co1J or lransferrcd reach agrcement in writint that the crcdit ot cuch perton
is satisfactory to Lsnder and that the inter~wt payabk on the sums secured by this Mortgage shall be at such ra~e ac Lender
shall requat. Tf Lender has waived the op~ion to accelerate provided in this pangraph 17, and if Botrower's successor in
intercst has exauted s written assumption agreerr~nt accepted in writing by L.ender. I.ender shall rekue Borrower from all
oblj~stions under tbis Mortgaae u~d the Nae.
1f Leoder ezercises such option Io accekra~e. Lender chall mail Borrower notice of ucekntion in accordanc-~ w~i~h
pawjtaph 14 heroof. Such notice shall provide a period of not las than 30 days from the date the notict is maikd within
which Borrower may pay the sums dtclarcd due. It Borro~+rer fails to psy such sums prior to the expiration ot such peric~d.
~ Lender may. without further notice or d~mand on Borrower. invoke any remedia permitted by pantnph 1R hercc+f.
R
~ Nonr-Ur+~gae~t Cov~r+~wrs. Bormwa and Lender turther covenaoe and s~nee as iollo~rs:
~ li. Aece1~ Reseafes. EsceM a~ rrovNed b Mea~~yM 17 herso~. ~o~ ~omwe~'a Me~c~ a/ a~y c~~e~N K
~ ~e~t at 1~rrower b t~is Moe~a~e. ~ Mie corewawfs to My wUe~ i~e a~y wws Kes~s~ b tY~ Mo~ale• t.e~ier
~ a accele.atlo..W/.Nt.otke ro son...er as ~o~ldce 1. p~ra~~yM ts rereet ~eeryi.s: tl) ae MescA: ~=1 H~e se1M.
~ ~e~e! Io e~rc weU Meael~ (3) a ite. ~ot las t~ 3A dsys tro~w tre ~ale tbe wotke r w~Ye~ N lwrewe*. wbk~ s~
~ ~re~ ~ait ~e c~re~ a¦i N) trat talbre 1o cKe a~ch MescM o~ er relae tbc dde qscYe/ 1~ tUe ~etke wy resrN Iw
aet~atl~-.t 1~e wi~ reere~e~ br tUs Malsa~e. to~eebwre ~ jrA1cW ~rocaedM~ ~wi t~le ~t trt Tro'e~ry. 71e Ntict
~ sW ~ ido~ lonower d tre ~M b reiwsbte atter ~ccekratlo~ a~/ tMe rf~l b s~e~f h tl~e taeel~a~e pote~~
~ Ire ~os~ssMe~ce d a ~dsrlt or ry ether ~efe~se o1 iwrower N~ceeleeMfew awi lorsclowre. M tAe MtiaA r~of e~s! M
or 6etore tre iMe qeeiie/ i~ tre ~otlce. I.ew~er st t.e~'s o/lio~ ~ry Aeelre sM ot tre w~ sse~u~ iy Nds Mo~t~Ce M re
iwwe~lely dre awi My~blt wilbrt Gather dein~nd a~ wtay /ortebu tWr MtKha~e Ih' j~i1cW Nres~di~. Ltade? JaN
be s~litle~ a corett f~ ~i ~ne~s~ sq tsPe~ses ot toreclos~re. Vel~i~. ~t ~N Y~ife~ M. rea~~Me stl~xAeY's Eees.
a¦i ads ~t i~c~.~e~tary n'Y~~ee. s~t~ a~ tftle r~rpeb. =
~atowp'~ ~~IN t~ ltd¦rlate. Nc+twi~hs~tandinE l_ender
s acoekrstion of the sums secured sy th~~ Morts~e. ~
Borrawer :hall Aave the ri~ht to have sny proceedings hegun by Lcnder to entorce this Moh~sse discontinued a~ aoy time
~ ~~'~31? P~~~27(~
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