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1 rn+trt', ++ntten .?gnement of .y,plr.ahk L.++ Iturn,++er ,hall pad the annnu?t of all mortgage imur.u?ce pr~miunt, m the
m.uuur Ia:wrdrJ undrr par.r?;raph ? hereot
:1m' :unonnt, +h,hurced by 1 en+lrr putwant to this 1+ar.rgraph 7 tvrth ?ntrre,t thrrcun ,1?:?II M•ron?r :?dditional ~
imlrMrdn+•., ,.f Hono++rr .rcurcd by the, \Ior1L.?gc 1'nk„ liorro++er :uul I rnJer :?en•r t.• other t+•rnr of p:?vntent. wrh
:uman?h ,hall tx• 1?.?vahlr ul?.a? notice front I ender t~+ Born~++rr reyue.tinL p:?vn?rnt Ihrreol. and shall tzar intrrect fn?m the
dart of di,hunemrnt at the rat. pav:?hle (r.an time Io trmc on out,t:nutinc pnncipal under the AMC unless, payment of =
inlrre,t :?1 ,uch r.?tr ++ould he contras to :?pplicahle la++. in ++hirh rvrnt wch :unounh ,hall 1?car interecl at the highest rate
permiccihlr undrr aly,hrahle la++. NothinL contained in Ihi, par:?Lr:?ph 7 ,hall rcyuirc 1 ender to incur any expense r?r take t
.ut)• action hereunder.
tt. Impcrtion. 1 ender may make .+r . au,e UI t+e made rcaconahle emric, ??pun and impcctiom of the Pron. rty. pn+vided
that 1 rndrr ,hall Ln•e Born,+cer notice prior to anv such impechon ,pacifying rcaautahlr cause thcrrfor r+~ated to I.endcr'c
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~Iltrlr,l In 11?r Pro prrl\'.
9. ('ondemnation. Thr pn+crrd, of anv a++ard ar claim for damages, direct or c.+n,eyuential. in connecti??n ++•ith am•
:undemnatirn or ++ther takinL of the Pmperty, or part thcrcof. or for cunvey:u?re in lieu of condemn:dion. are hereby ac,igncd
.utd ,hall hr paid tr Lender.
In the event ++f a total takinL of the Pr++perty. the pn,credc ,hall Fx :y?plied to the wm, crcurrd by this \lortgagc.
++ith the excel. if am', paid t~• Borrower. In the cvenl of a parti:?I taLinE of the Property. nnle„ Itorro++•rr and 1 cndcr
oth;r++i,e agree in +vritinL. there ,hall he applied to the ,+rmc ,ecurc+l by thi, MortcaLe ,nch laoprrtion of Ihr prcxccd,
as is equal to that prop.+rtion ++hic.h the :?mount of Ihr wnt, ,rcured by thi, \1ortLa~e irnntediately prir+r to the date of
taking tzar. to the fair market +•alur of the Property immafiatrh• prior to the .late of takinL. kith the hal:mce of the proceeds
paid a? Borm++er.
If the Pmperlc is ahand~ncd by Borro++•er. or if. after notice M• I rndrr to Br?rr~,u•cr that the crnt<icmnor offers to make
.u? awani or ,enle a claim for daruaLe,. Bormwer fail, n, re,p~aul t~~ 1 rndrr within zu dav, after the dart ,uch notice is
mailed. 1 rndrr i, :nrthorired to collect and appl>• the pn,ccrdc. at 1 cndcr', option. tither to rc,toration or repair r?f the
Pmpem or to the wm, ,rcurcd by thi, 1lfortgagr.
l'nlesc 1 en+ler and Borro+vrr nthcr+vi,e agar in writinc. am• wch application of procredc M principal ,hall mH extend
or p:+,tp++ne the due dart of the monthly installments rcferrcd to in paragraph, 1 and hereof or change the amount r?f
?
,uch installments. t
10. Borrower Not Released. 1=xtencion of the time for payment or modification of amortisation of the cnmc Secured
M• the, \1.+rtLaLe granted he_ I ender to am_• curccsu,r in interc,t of Borrower ,hall not operate to rclrace. in am• manner,
the liahility of the original Burro+?er and Brrm+ver', ,ucce„~+r, in intrrest. 1 cndcr shall not 1?c required to commence
pr.~ceedinL, aeaimt ,uch surce„or ar refu,c to exlen+l time for payment or othcrs+i,c mcxlify amortirati~+n of the sums
,ecurcd hs Ihi, Mortgage M• rca,on of am' demand m;?de h+ the oriiinal Burrower and Borrower's ,urcrccon in interact. '
I1. Forhearance M• Lender \ut a Waiver. Any i.+rhearance by 1 cndcr in cxcrri,ine :?m• right ~+r rcmeds• hrrcundcr, or
~~ther+vi,e atTurdctii by applicahk law. ,hall not he a waiver of or preclude the rxercicc of am• ,uch right or remedy.
Thr pn?rurcment of irtsuranre or the payment of rase, or other liens ur chareec by Lender ,hall not 1?e s+;river of I ender's
right t., :?ccelerate Ihr matitritc of the indehledne,c ,r,urcd h~ thi, ~longaee: 7
12. Rcmcdie~ Cumulative. All remedies prmided in thi, Alortgage are di,tinct and cumulative to :u?c other right or
remeJ+• undrr Ihi, !11ortLaec or atTorded he I:o+ or equity. and mac Fx exercised concurrcnth•. independent{+ or ,n+xe„is•ely.
13. Succestiors and Assigns Bound; Joint and Several Liahilih~; ('aptionc. "Ihe rnvcnants and agrecnxnt, herein
rontaine.l ,hall hind. and the right, hcrrunder ,hall inure to. the re,pective st?ccc„orc and assigm of Len.!er ::nd Burn?wcr.
~uhject t+• the provi,ionc of paragraph 17 hrrrof. All covenant, and aereemcnK of Borrower shall he joint and several.
Thr caption, ;utd headinL, of the paragraph, of this MorlLaLe art for convcnicncc onh• and arc not to t?e used to
~nterpnt +?r define the pn»•i,ions hereof. t
14. \otice. Except for any notice required undrr applicahlr la.+ t+, he liven in another manner. /a) any notice to `
Borrower provided for in thi, \lartgage shall i?c given h~~ mailinL wch notice by certified mail adders,e<I to Borrower at
the Pr++perty :Wdre„ or at wrh other adder„ ac Borrower m:?v dc,iLn:ue by notirr Ir+ I cndcr ac provided herein. and
thl am notice to Lender ,hall he Liven h~ certified mail. return receil•t reyue,ted. t~~ 1 cndcr', address stated herein or to
,uch other adder„ :r, Lender may designate h~ notice to B~~rro++er a, pm+ided hrrcin. Any notice provided for in this
Mortgage shall he dermrd to hale hcen Liven to Borm++rr or I rndrr when given in the manner designated hcrrin_
15. I'niform ?1ortt;aRe; Cocernin>; T.aN; Severabilih. Thies Irrm of mortgaLe romhines uniform rm•cnar?t, for national ,
u,e and non-uniform covenant, kith lintite~f variation, by jurisdiction t~+ con,tiurte a unilornt urnrity instnrment c.?vcring
real property. Thi. \tortL:?ge ,hall F?e g+vvenxd hx the Ln+ .•f the iuri,.liction in which the Pmpert~• i, located. In the
j event that any provision or clause of thi, \1ortgage .~r the \ote conllicts wish applicahlr law. ,uch conflict ,hall not affect
ether pnwi,ions of thi, ~1orlLage or the \otr v+hich ran hr _iven clTect ~-+irhont the amilictinL provi,ion. and tr? this
end the pn,v i,i~~n, of the \tortgaLc and the \,•te arc .ierl:•red to he ,cverahlr.
16. Borrowers ('opt. Borrower ,hall hr fern,shed a c~a?f~~rmrd rnp~~ of Ihr \ote and of Ihi, \lortgage at the time i
~ ~~f exe:ution +u after recordation hereof.
17. Transfer of the Propert}; Assumption. If all .+r :u?v p,rrt of the Property or an intcrest therein is ,o!d or transferred
i M Borrower .+ithout Lender's prior wriurn ron,ent. escludinL ra? the creation of a lien or cncumhrance cutx?rdinatc to
this '.lfortgagc. th? the creation ?vf a purcha,e stoney srrurity intere,t for hou,ehuld appliances. (ct a transfer M~ devise.
de,rent or by operation of L?v+ upon the death ~+t a i.~n?t tenant rr td. the Leant of :utv leaxhold interest of three years or lace
not rontaininL an option to purehasr. I rndrr ma+. at 1 rndrr'. option. dreL?rc all the cum, secured by this \torteage to Fee
~mmrdi:rteh- due and payahlr. I rider ,hall have vv:uved su;h option to accclerde if. prior !n the ,ale or transfer. Lender
.end the percon to whom the Properly i, tr he xvla ur transferred reach agrcrment in wnunc that the credit of ,uch per,on
~ is saticfactorv to Lender and that the interest pavahlr rn the wm, ,erurcd by this ~1ortLagc ,hall he at loch rate as Lender
,hat! request. if 1 cndcr ha, waived the opti4+n to accelerite provided in this paraLr.?ph 17. and if Borrower i successor in ~ r
interest ha, executed a written assumption agrerntent accepted in +vriunL M_• Lender. Lender ,hall release Borrower from all
.~hligations undrr this Mortgage and the tiotc.
If 1 ender exercises ,uch option to accelerate. !rndrr ,hall mail Borrower notice of acceleration in accordance with
~ paragraph 14 hereof. Such notice ,hall pnn•ide a period i~f not Ire, than it) Jay, from the date the notice is mailed within
~.+hich Borrower may pad the wms decl.ue+l due. If Borro:+er fait, to pa} such wmc prior to the expiration of ,uch period.
Lender may. without further notice or demand on Itorn,wer. utvo{,e :?m remedies permitted by paragraph IR hereof.
tio~-[:~IFOKSt Cove~:~nTS. Borrower and 1 cndcr further covenant and agree as follows:
18. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage, Lender
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action r
required to cure such breach; (3) a date. not less than 30 days from the date the notice ~ mailed to Borrower, by which such
breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
acceleration of the sums secured by this Mortgage, foreclosure by judicial proceeding and sale of the Property. 'Ilse notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure procetdittg
the non-existence of a default or any other defence of Borrower to acceleration and foreclosure. If the breach is not cored on
or before the date specified in the notice. Lender at Lender's option may declare all of the sums secured by this Mortgage to be
immediateh• due and payable without further demand and may foreclose this !Mortgage by judicial proceeding. Lender shall
~ be entitled to co11eM in such proceeding all expenses of foreclosure, including. but not limited to, reasonable attorney's fees.
r and costs of documentary evidence. abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have ant, proceedings t,egun M• Lender to enforce this Mortgage discontinued at any time _
~,.~K336 Pd~E1005
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