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Lender's writtcn agrcemeot or applicabie law. 8orro'we~ shall psy the amouM o[ sll mo~tsase insurar~oe Qremiurta in the
maaner providecl undcr paraanph 2 hereot.
Any :mouots disbuded by l.ender purs~unt lo this paraar~ph 7, wilh interest thereon, shall become addiCw~h
indebtedness ot Borrowcr aecured b this Mo less Borrowe~ anJ t-enJer a`ree to dhe~ ternu of paYme
amounts shall be payabk upan ~x~tice frrnri L~ib B~o~owe~ roquestin~ payment thereaf, and shal) bea~ interat /mm the
date of disbursement at the ratc paysbk from time to time cx~ ailstandin` principa) under the Note u~kss qyment ot
interest at such rate would be coet~ary ta applicabk law, in'which event such amount~ shall bea~ interest at the hiahest nte
permiaibk under applicabk lsw. Nolhing contained in lhis paraarsph 7 shall require t.ender lo incur aoy eapen~e or t~lce
any action hereunder.
R lrpectio~. T.ender may make or cause to be made rcawnabk entriec upon and inspoctions af the Propert~?. Prov~ded
that l.ender shall give Borrower ndice prior to any such inspection specityina rcasonabk cause therefor related to i~der
s
intere~l in the Properly. '
9. Co~emeslba. The procceds of any award or claim for damages. direct. cx rnnsequential, in connection with any
condemnation or other taking of the Property. O~ ~i11 lI1C~MI. or for conveyance in lieu ot co~ekmnation. are herebY ~8~
and shall be paid to L.ender. '
ln the event of a total laking of the Propeny. ~he proc:eeds ahall he applied to the sums secured by this Mo~tgage. ,
with the excess, if any, paid to Bormwer. In Ihe eve~i of a partial taking o( Ihe Property. unless Borrower and Lender
othenvise aarce in writinR. there shall be applied to the sums secureci by this Mortgage suc:h proporlion ot the proc.'eeds
as is equal to that proportion v?~hich the c+mount of the sumc sect~red by Ihis MortaaRe immtdiately prior lo the date of
takin~ bears to the fair market value of the PropeNy immediately prior ta the date ot Iaking, with the balance of the proceeds
paid to Borrower.
If the PropeNy is abandoned by Bor:awer. or if. after notice by I.ender to Bormwer that the condemnor offen to make
an avard or setNe a claim for damagex, B~~~mwer fails to respond to l_ender within 30 days after the date such notice is
maikd. I.ender is authorized to collect and apply the proceeds. at l.ender's oplion, either to ratoration or repair of the
property or to the sums sccurcd by this Mortga~te. ~
Unless 1_ender and Borrower otherwice agree in w•ritine. any u~ch application of proceeds to principal shall not eatend
or pcxtpone ihe due date of the monthl~ installments referred to i~ paragraphc 1 and 2 hercof or change the amount of -
such installments.
1~. dorrower Not Rele~sed. Extension of the ~ime for payment or modiflcation of amortization af the sums securcd
by this Mortgage granted by 1.ender to any «~cce~u~r in interect of Borrower thall nat ope~ate to rclease. in any manner.
the liabilily of the original Borrawer and &?~rower'~ successors in interest. T.ender shall not he required to commence
prcxeedings against sueh successor or refu~e t~ e<tenJ time for payment or otherwice mcxliFy amortizat~on of ~he wms
se~:ured by thic Mortgage by reason of any demanei made by the ori¢inal Borrower and Borrower s succenors in interect.
11. Foreearaace by Lender Not ~ Waiver. An}~ fe.rfiearance hy l.ender in e~ercising any right or remedy hereunder. or
othenvise atforded hy applicable law. shall nc?t I~e a waive~ af or preclude the exercise ~f any such right or remedy
The procucement of insurance or the paymcnt oF taxcs or other liens or charges by I_ender shall not t+e a waiver of i.ender s
right to accelerate the maturity of the indeh~edness cecured h~ thic Mortgage.
12. Re~nedies Cumulathe. All remeelies provided in thic Mortgage arc distinct and cumulative to any other right or
remedy under this MarlR~ge or afforded hy law or equity, :md may be exercised concurreotly. indepenclently or succecsively.
•~g, Sec~essors and Ass~ns Bound; aoinl and Se.•eral I.iabil~fy: Captions. 'Il~e . covenants and agreements herein
contained shafl bind, and the rights her~under shall inure to. the respective succesu?rs and ascigns of T_ender aod Bonower.
subject to thc pmvisionc of paragraph 17 hereof. All rnvci~ants and agreements of Bormwer shafl he joiry and several.
'il~e captions and headings of the paraQraphc ~f thic Mortgage are for convenience only and are nat to be uced to
interpret or define the provisionc hercof.
14. Notice. Except fot any notire rcyi~ired under applirable law to be given in another manner. (a) any notice to
Bonower pmvide~ for in this Morigaee shall tie given by mailioR such notice by certified mail addresced to Borr~wer at
the Properiy Address or at such other address as Rorr~,w•er may designate by notice ta T.ender as provided herein, and
(hl any notice to i.ender shall he given by certified mail. ret~~m receipt requested. to i.enders addrea stated herein or to
such other addresc as 1_ender may deci¢nate b}' nMice tn Borrnwer as provided herein. Any notice pmvided for in thic
Mortgage shall be deemed to havc l~een g~YCn to Borrowcr or Lender when given in the manner designated herein.
! I5. Uniform Mort~a~Ge; Governin~ tavr: Se•~ersd?i~~fY. Th~< <~rm of mortgage combines uniform covenants for national
~ «se and non-uniform covenams with limited variations hy juricdictian to rnnstitute a uniform securitY instrument rnvering
E real property. This Mortgage shall be governed h~• the law~ vf the juricdiction in which the Property i~ located. In the
event that any provision or clause of thic Mortgagc ~r the Note conflicts with applicable law. such conflict shall not affect
~ other provisions of this Motigage or the Note.which can t+e given effect without the conflicting provicion. and ta this
r end the provisions of the Mortgage and the NMc are ~Icclared to he ceverable.
16. dorrower's Copy. Borrow•er shall be turni~heJ n conformed cop}~ of the Note and of thic Mortgage at the time
of execution or after recordation herrnf.
17. Traosfer of the Pmpertv: Assumplian. lf all ~r any part of the Property or an interest therein it sold or transferred
by Borrower without L,ender's prior writ~rn c~?nunt_ excluding (al the creation of a lien or encumbrance sut~orJinate ta
this Mortgage. (b) the creahon of a purchace mi~ney~ ~ccurity interest for household appliances. (cl a trancfer h~~ devise.
descent or by o{+eration of laN~ opon the Jeath of a j~~int tenant or (d) the grant of any leasehold interest c?f threc )'cars or lecs
not containing an option to purchase. I_ender ma}•. at i.ender't option. declare all the sums secured by this Mortgage to be
immediatel}' due and payable. [_ender shall have Mai~•ed cuch option ro accelerate if. prior to the :ale or transfer. (.ender
and the person to whom the Property i: a~ be :oIJ or ~randerred reach agreement in writing that the credit ~f wch percon
is satisfaetory• ro I_ender and that the inter«t pa~~able on the s~~mc secured by thic Nortgage shall be at such rate ac I.ender
shall request. If l.ender has waived the option to accelerate .~ro~ided in this p~ragraph 17, and if Borrower'. .accessor in
intercst has sxecuted a written assumption agreement accepted in writing by I.ender. 1_ender shail relea~e Borrower from all
obligations under this Mortgage and the Note.
If Lender exetcises such option tc. accelerate. I.ender ~hall mail Borrower notice of acceleration in accordancr ~?h
paragraph 14 hereof. Such notice shall provide a peric?d of not lesc than 30 days from the date the notice is mailed vvith~n
~ which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the zxpiration of.wch per~.xi.
~ Lender may, without further notice or demand on liorrower, envoke any remedies permrtted hy paragraph I R hercof.
i
~ Norr-UNtFOatit CovEtvexrs. Borrower and Lender further covenant and agm as follows:
~ 18. Acetleratiou: Remtdks. E:cept as pmvided in paraRraPb 17 bereof. upoe SoR'°wer's bresc~ of ssY co•eeaat w
~ y6reement of Eorrower i. t6k Mort~sRe. iaciudinR tbe corcnants to psy ~+bes due ssy sums xtv~ed bJ tbis Mwi~aRe, I.endcr
~ ptior to acceleratbs shaN e~aR ootke to aorrower as provWed ia parairsPh 14 hereot spccNyfa~t (t) the bresch: (21 the sction
E required to esre socb bnacb; (3) ~ dm, not less th~n 30 days from tbe date the notice Ls maikd to Eorro•?cr. by .•hich wcl+
~ breacb a~wf be cared: aad (41 lhat ftilure to cere wch bresch on or ~ore the date ~
sak of tbe Propertr. ~The notice
3 aecekia8oe ot tbe sems secund by tbis MoN~s~e. to.ecbsure by 3udic Pr~
~ abdl hiNber iafors~ Eorrm+er ot tbe riRM to niestafe afser accelcration snd tbe ~Mt to aaseri i~ tbe fo~eclos~'re Pr°~
t1e oon-e:i~fenee d a aetanN or ~y Mher defense ot eorrawer to accekratioa and foreclowre. It tbe bre~cb is oot crrsd o~
or 6etore the dste speci6ed i~ tbe aoike. Le~er ~t I.rnder's oplion may dechre sN of tbe suas secnred by thk Mort
n~a~e ~
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~ iu~mediatdy doe and paysble ~ritboul turtber den~d, f~d~loSUre. in~cludia~ b~n~lia4Nedito. rea~owsble att~,rnr~'s fces.
be eatitkd to colieet in sreb ProeeedipR sq e:pe
sad costs ot dotr~weetary eridesee. abstracls ~ad ~i1k reports.
19. Eorrowa's Ri~bt to Rein~tNe. Natwilh~tandin~t Lender's acceleration of the sums securcd by thr ~1.ingage.
Borrower shal) have ~he right to have any proceeding. h.~~un ^v 1-ender to enforce this titortgaqe discontmued st an) t~me
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