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l.ender's written ajrce~nent or applicabk larl?. Borrowe~ ~haU p~y the anaud ot all mort~se ins~uaaar ~pt~eaNumt in the
manner provided unde~ pa~sarsph 2 lKr~of.
Any amounts disbursed by I,ende~ pursuant to tha WniraPh 7. with iuterat ther~on. ahall becoms sdditional
indebtednas ot Borrovrcr secu~d by ~his Mortgaje. Unkss Borrower ar~d l.ender aaroe to othe~ ternn of paya~ent, wch
amounts ~all be pa~?abk upon notiee frorn l.ender to Born~wei requestina payment theroof. and ahall bear iotere~t tnem the
date of disbunement at the rate payabk from time to ti~pe on outstandin~ principal under the Note unleu pa~meat oi
interest at such nte would be contrary to appti~able 1aw. in which event such amounb ahall bear i~terest at the hitbat rata
pennua'bk ~mder applicabk law. Nothina containod in this paraaraph 9 shap tequire I.ender to incur any expen~a oc 4ke
any action her~wnder.
a. l~ecfle~. i.ender may make or cause to be made ressonabk entrias upon and inspections of the Propertp. provided
that Lende~ shall give Borrower notice prior to any wch inspection specifying rruonabk cause thenfor rclatcd to I.a~er's ,
intercst in the Propeny. -
9. C~ The proceeds of a~y awa~d or claim for damages, direct or consequential; in oonnection with any
condemnalion or dhe~ taking of the Prope~ty, or part thercof, or for conveyanoe in lieu of condemoation. are hereby auisned
aad shall be paid to I.ender. ~
In the eve~t of a total takina of the PropertY. the p~occeds shall be appliod to the sums aecurod by this MortEase.
with the excess, if any, paid to BoRawer. In the event of a partial taking of the Property. unless Borrower and I~der
otherwise sgroc in vvt~iting, thcrc shall be appliod to the sums secured by this Mongage such ptoponion of the prooeeds
as is equal to that proportion v?hich the amount af the sums secured by this Mortgage irnmediately prior to the date of
takiog bears to the fair market value of the Propeny immediately prior to the date of taking, with the balana of the ptooeeds
paid to Borrower.
if tt~e Aroperty is abandoned by Borrower, ar if, after notice by Lender to Bornower that the condetnnor oRea to tna]ca
an award or settk a claim for damages, Bc~rmwer fails to respond to Lende~ within 30 days after the date such rwtice is
maikd. Lende~ is suthoriud to colkct and apply ~he proceeds, at I.ender's option. either to nstoration or repair of the
Property or to the sums securcd by this Mortgage.
Unkss Lender and Borrower olherwise agree in writinR, any such application of proceeds to principal shal) not extend
or postpone the due date of the monthly installme~ts refetred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Eo~rower Not Released. Extension ~of the time for payment or modilication of amortization of the sums socured
by this Mortgage grdnted by Lender to any cuccessor in interest af Borrower shall not opente to nkase, in any manner.
the liability of the original Borrower and Borrower s successors in interat. Lender shap not be required to commence
proceedings against such suocessor or refuse to extend time for payment or otherwise modify amortization of the s~~ms
securcd by this Mortgage by rcason of any demand made by the oriR~nal Borrower and Borrower's successors in interest.
l l. Forbeuaece.6y Lender Not a R?dver. Any fortxarance by Lender in exercising any right or rcmedy hereunder, or ~
olherwise afforded by applicabk law, shall not be a waiver of or preclude the eaercise of any such right or remedy.
The procureme~t of insura~oe or the payment of taxes or other liens or charges by Lende~ shall not be a waive~ of Lender's
right to accelerate the maturity of the indebtedness secured hy this Mortgage.
l2. Remediea Cnmolaf~e. All r+emedies provided in this Mottgage ar~e distinct and cumulative to any other right or
rcmedy under this Mortgage or atforded hy law or equity, and may be exercised concurrently. independently or successively.
~ 13. Sreces~ora and A~~s Eound; ,Joiat aud Several i.isbi~; Cspdoas. The coveoants and agreemrnts herein
contained shall bind, and the rights hereunder shall inure to, the respoctive suceesssors and assigns of Lender a[~d Borrower,
subject to the provisions of paragraph 17 hercof. All covenants and agretments of Borr~wer shall be joir~ and several.
The captions a~d headings of tfie paragraphc of this Mortgage arc for convenience only and are not ta be used to
interprot or define the provisions.hereof.
I4. Notiee. Except for any notice rcquired under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortg~¢e shall be given by mailing such notice by certifled mail addressed to Borrower at
the Property Addrcss or at such dher address as Borrower may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall he givcn hy certi6ed mail. retum roceipt requested, to l.ender
s address stated herein or to
~s r dc~ss as r ma d iqnate b~, noti to Borrower at provided herein. Any notice provided for in this
t to ~r or Lender when given in the manner designated herein.
i~ 1S. ~e r~Mo eraio~ La~, $everabilify. This form of mortgaTge combines uniform covenants for national
, use and non-undorm covenant ith limited vari~ions by jurisdiction to constitute a uniform security instrument covering
' ~;~11~A1?~ j7b~t l~~}g!r~~ ~prer~ed by the law of th~ jurisdiction in which the Property is located. In the
' ' e ertt ~hat any prdv~swM clause of`thic Mortgage or the Note conflicts with applieabk law, such conflict shall not atToet
~ other provisions of this Mortgage or the Note which can be given efTect without ihe conflicting provision, and to this
! end the provisions of ~he Mortgage and the Note are ~leclared to be severable.
~ 16. dormwer's Copy. Borrower shall bc furniched a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
~ 17. Traoder of fbe Properfy; Aaumption. if all or any part of the Property or an interest therein is sold or transferrcd
~ by Borrower without I.ender
s prior writtcn consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creat~on of a purchace money cecuri~y interest for household applianca, (c) a transfer hy devise,
descent or by operation of law upon the cieath of a joint tenant or (d) the grant of any leasehold interest of threc years or less
not containing an option to purchase. Lender may. at Lender's option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have w~•rived such option to accelerate if, prior to the sale or transfer. [_ender
and the person to whom the Property ic Io be cc~ld or transferred reach agrcement in writing that the credit of cuch person
is satisfactory to Lender and that the interest payable an the sums secured by this Mortgage shall be at such rate ac l.ender
shall request. if Lender has waived the option to acceterate provided in this paragraph 17, and if Borrower s successor in
~ interut has eaecuted a written assumption agreement accepted in writing by Ixnder, Lender shaU release Borrower from all
obligations under this Mortgage and the Note.
Tf Lender exercises such option to accelerate, Lenekr shall mail Borrower notice of acceleration in accordanc~ ~.•i~h
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from'the date the notice is mailed within
which Borrower may pay the sums declarcd due. If Borrower fails to pay soch sums prior to the tapiration of such period,
~ Lender may, without further notice or demand on 13orrower, invoke any remedies permitted by paragraph 18 hercof.
~
~ Nav-UntFOrttir Coverv~rrrs. Borrower and Lender further covenant and agrce u follows:
~ 18. AccekraRioo; Rea~edip. Except as provided j~ ~rsph 17 hereof, opo~ Eorrowe~s breac6 of a~y co~e~snt or
~ atreemeet of Eorrower ia thts Matsase, iacludin~ tbe cwesssts to Pay whe~ d~e aay wms secored by Mk Mort~a~e. Leoder
prior lo aecekraNoa sha~ ~nsil eofice to aorrow~er as provfdcd te psra~rap6 14 benot specN~: (1) the bresch: (2? tbe acfion
~ ~+eqolred to crre src6 6resc`; (3) a d~te, not las than 30 days tro~w tlie date tbe sotiee b aMkd to Sorrower. by whkh wcM
~ bsesc6 mwt be c~red; sad (4) tl~at faNnre to care arch brescM o~ or before t6e date speci8cd i~ thc sotke may resWt iw
~ accderatbn of tre wme secrred by t6is Mort6a~e. to~ec~osure by j~dkial ~roceedla~ ~d ssk ot tbe Property. 'Il~e notke
~ shaN fnrt6er iaform Eorrower of tbe rigM to relnstate after sccclcration sod tUe ~Mt to assert i~ the foreclosoro pnuceedi~ _
t6e noa-e:ktence d a defarlt or aaf otber dcfease ot Eorrower to sccelentioe and foreclos~re. If tde brescM b aot cored on
or 6efore tbe date speci6ed io tbe sotice. I:ender a~ [.ender's opiios a~ay deelare ~ of Me wms sccored by thls MortRaRe to be
~ ima~edfately dne sud paysbie witbott fnrtber demand ~nd may fonrkse thb Morl~a~e by jodkW ~r~oc~. Lender chall ;
be eatitled to coBect iu s~cY procesdiu~ aM e:penses of forecbsore. ioclydia~, brt ~ot Ymited to, r+easonabk m~,rnev's fea. ~
aed cost~ of doe~oeMary e~idence. s6sdtcts sad litk rcports.
19. Somower's Ri~t to Reistate. Nc~twi~hstanding I_ender s uceleration of the sums secured by ~h~s Morlgage,
Borrower ahall have the right to have any proceedinp,s bcgun hy l~nder to enforce this Monltage diuontinued at any time I
~
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eo+~K •.~12 P~GE ~70U