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1 cnJCr's ?sritten agrernunt ar ;Ipphrahle lase. liurn?wer sh:dl pad the amount ;dl nu?rtgage imurut~r premiums in the
manner pr.+vidrd under paragraph 2 hereof.
Any ;umxu+h dishurxd by l cndcr purwant to this paragraph 7. with cMrrest thereon. ,hall F?rcc+mr additional
indchrcdnccs of Itorrusscr secure) hs• this Mortgage. l'nles, &?rn?sser :unl 1 cndcr agree to c.thee tcrnls .+f p;+ymcnt. such
amount, ,hall F+c payable upcm nt+ti.c from 1 cndcr to Burn+wrr reyucsting payment Ihrrc.?1. ;unF ch:Jl 1?ear inh•rect from the
date of di,hurccmcnt at the rtk pas;rhlc fn+m time to time on outstanding principal under ths; ;\ote unlCts payment of
interest at such rate srcxJJ F+c contrars• to applicable (:ov. in which event such amounts shall Fear itSterckt'at the highest rate
permiscihlc unJcr applicable lase. ?nothing contained in this parr~rtph 7 shall require: I ender to incur any rrprnse or take
:uty action hcrcundcr. '
R. Inspection. 1-cndcr may make or cause to F+e maJe reacunahlr cmrirc upon and inspcctionc of the Property. provided
that 1 cndcr shall gi?•c Borrower notice prior to ;tm• such inspection ,pcrifying reasonable c:urcc Iherefc?r relate) to I.cnder's
interest in the Pn?pcrty. .
9, Condemnation. The proceeds of any ascard or claim for damages. direct ur c.xtscqucntial. in connection with any
.:unJenu+ation other taking of the Property. or part thereof. ar for ams•cyance in lieu of condemnation. are hereby assigned
and ,hall ~ paid to I.cndcr.
In the event of a total taking of the Property. the proceeds shall Ix applied to the sums secured M• this Mortgage.
with the e~cccs, if am•. paid to Borr.?ss•er. In the went of a partial taking of the Property. unles, Bc?rn?svcr and lender
othen~isc agree in writin~•. there .hall tx: applied k+ the sums ucure.F by this \lortgagc wch props?rtion of the proceeds
as is cyual to that pn?pc?rtion which the amount of the sums ,c:ured by this Mortgage immcdialcly prier to the date of
taking heart to the fair market s•aluc of the Property immrdiatrh• prior to the Jatc of taking, with the balance of the proceeds
paid to Borrower.
If the Properh• is abandoned he Borrower. or if. after notice hs• I cndcr to Burrs?svcr that the condemnor otters to make
:rn award or settle a claim for Jama~;c,. B.?rn?w•cr fail, to respc?nJ tr 1 cndcr ssithin Zt? Jas's after the date such notice is
mailed. Lcndcr is authori7cd to calirct and apph• the pnwrcdc. at 1 enJcr's option. either to restoration or repair of the
Pmpcny or to the sums secured hs• this Atorteat:c.
Unlccs Lender and Born+svrr othenvisc agree in scritine. am~ .wch application of pn?cecdc to prin~ipa) ,hall not cstcnd
or Ixxtpone the due date of the monthly installments referee) to in paragrtphc I and hcrcof or ch;utgc the amount of
etch inctallmcnK.
10. Borrower :tint Released. 1'~tcncion of the time for paymem or mexlificatiun of amortisation of the wms secured
hs• this Atorteagc granteJ M• I.endcr tc? any successor in intcrcct of Bormwer shall not operate to mlcase. in am• manner.
the liability of the original Burrower and Borrower's w:ccscurs in intcreu. Lender shall not Ise rcyuireJ h? commence
pn?cccding, against such wccescor or refuse to estenJ time for payntcnt or otherwise mcxlih• amortiiatic?n of the sums
secure) by this lll+trtcagc by mason of any Jcm:uul maJc h>; the +?ri~~ina) Bormwer :utJ Burn,w•cr c suceresun in intcrcct.
1. Forbearance by lender \ot a R'aiver. Ant forF+caruuc hs• Lender in csercising am• right ur rcmcds hcrennder. or
uthcrw•isc atforJcJ hs• applicable law. shall not Ix a w•aiser ut +,r preclude the csrrcicc of any ,wch right or rcmcds•.
"('hr procurement of inwrance or the payment of lases ur other licm ur charges by I.cndcr sh:dl not I+r a waiver rf tenders
right to aceclcrate the maturih' of the inJchtcdncss sc•a+rcd he this Mortgage.
12. Remedies Cumulative. All remedies provided in this Mortgage are distinct anJ cumulative to :n+v ether right or
remedy under this :1lortgagc or atforJcJ hs law' or equity. anJ may F+e oscrciscJ rnncurrenth•. indcpcndently or ,ucecccivch•.
13. Successors and lccignc Boned: Joint and Seseral Liability: ('aptions. •fhc rnvenants and aLrecnt~nt: herein
containcJ shall hind_ and the rights hcrcundcr shall inure to. the respective succcsson anJ assign, of Lcndrr :u+J Burrower.
subject to the provisions of paragraph 17 hcrcof. :111 cos•cn;mts and agreements of Borrou•cr shall F+c j~,ins :+nd several.
Thr caption, and hca.lings of the paragr.+phs of this \lortgagc arc fc?r convenicncc onh• and arc not to t?c used to
interpret or Jrfine the proviciutn hcrcof.
14. \otice. F~ccpt for any notice rcyuircd cndcr applicable law a, he gisrn in an..thee manner. (al :rev notice to
Borrower pruviJeJ fur in this Mortgage shall he given by mailing wch notice hs ecrtificJ mail addressed to Born?wer at
the Pn?pcrh• :~ddress ar at wch other aJdress ac Bormwer m:rv designate hr notice to 1 cndcr as pr??vidcd herein. and
Ih) am notice to Lcndcr shall Fx given he certifirJ mail. rcnmt rcccrpt reyurstrJ. t+~ I cndcr', adJresc elate) herein or to
,wch other aJJrecs as I cnJer may designate by notice tc? Brrr~~~+cr ac provide) hcrrin. Ans• notice providr.f for in this
\lortgagc shall tx deemed to have been given to Borrower or 1 cndcr uficn giccn in the manner designate) herein.
15. Uniform 3UMgake: Governing Lass: Severahilit}. ~fhis t.~rm of mort_•;r~_c ;c.robins. uniform covenants fur national
~ ucc anJ nomuniform c.?venamc with IimilcJ s•ariatiom by iunsde;ti+?n t.• r~mstiurtc a unifornt srenrits• instrument covering
real propene. Thi, Mortgage shall 1?r LocerncJ he the l.cw of the iurisJiction in which the Property i. Ic+catcd. In the
event that :u+s• provision c?r clause of this Mortgazc ur the \.uc cuntli:tc with applicable law. each conflict .hall not affect
I ~?ther prosr.iun, of thi, ~torteaie or the \otr which pan h~ ~_rs~n rltr.t ..i!ho!rt the conlliitink pruci,ion. anJ to this
f end the pru:!,iorn of the ~lorteagr anJ the \ote an Jv.L+rcd to t+r ,cvcrahlc.
16. Borrowers ('npy. Bnrre,arr ,h;dl hr furnichrcl confunnea copy ut the \otr :rod of this Mortgage at the time
~ .?f e~ccution ar after rccorJation hcrcof.
17. Transfer of the Pmpert}:Assumption. If all ~~r :u+. i,.rrt of the Pr..pens' or an interest therein is s~~1d or transferred
by Bormsscr without I.cndrr's prior written con,cnt- cs~luding ra? the creation of a lire or cncumhranec whemlinatc tc?
this Mortgage. Ihl the creation of a purchase moors ,rcurity interest fur huuschrlJ applianccc. Ice a transfer by devise.
Jrsrent or M• opcr;rtion of law upon the death of ionu Icnant or (Jr the grant of any leasehold interest of three years or Ices
not containing an option to purchase. 1 cndcr may. et I cnJrr's ul.tu+n. Jccl;+rc all the wms u:cureJ by this Mortgage to F+c
unmr.liatch- due and pavahk. Lender shall h:+sc wane) sneh option tr arrclerue if. pr'sor is the sale or transfer. I.cnder
and the person to whom the Pn?Ixrty is to F:c solJ .?r transfcrreJ reach agreement in writing that the credit of wch person
satisfactan to I.rndcr :!red that the interest pacahlc un Ihr sum, secured he thi, 'Mortgage shall t+e at su:h rate ac 1-ender
shall request. If 1 ender has waicc~d the opti;.n to accelrr.!te provided in this paragraph 17. anJ if Borrow•cr ~ successor in
intcrcct ha, executed a .crittrn assumption agreement accepted in writing hv_ I.rnder- Lender shall release Borrower from all
~~hligations under this Mortgage and Ihr Note.
If I cndcr e~erciccs wch uptic,n to aceclcr.+tr. 1 cndcr ,hall mail Burrower entice of acceleration in accordance with
Iaragraph 1.3 hcrcof. Such notice shall provide a pcriuJ of nut Its, than an Jas•s from the Jate the notice is mailed within
t which Borrower eta)' pay the sums JeclarcJ der. It Borruucr fails to pas wch sums prior to the expiration of wch period.
Lender m:n•. without further notice or demand un Burruucr. insuke am remedies permhtra M' paragraph IR hcrcof.
Non;-U~tFOK~t Cos•tx~~•rs. Bormwer anJ Lender further covenant and agree as follows:
18. Acceleration; Remedies. Except ac provided in paragraph 17 hereof. upon Borrower's breach of any covenant or
i agreement of Borrower in this 3tortRage. including the covenants to pay when due any sums secured by this :?lortgagc, tender
prier to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure such breach; (3) a date. not less than 30 days from the dale the notice is mailed to Borrower, by which such
E breach must be cured; and (4) that failure to cure such breach on or before the daft specified in the notice may result in
acceleration of the stuns secured b}• this 3lorll;age. foreclosure by judicial proceeding and sale of the Property. 'Ilse notice
i shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding
I the non-existence of a default or any other defence of Borrower to acceleration and foreclosure. If the breach is not eared on
or before the date specified in the notice. Lender at Lender's option may declare all of the sums seFnred by this Mortgage to be
immediately due and payable without further demand and may foreclose the 3lortfiage by judicial proctedittg. bender shall
t be entitled to collect in stub proceeding all expenses of foreclosure, including. but not limited to, reasonable attorney's fees.
and costs of docomentary evidence. abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstanding Lenders acceleration of the sums secure) by this Mortgage.
Borrower shall have the right to have any proceedings hegtm by I-cndcr to enforce this Mortgage discontinued at any time
a~339 P~E1433
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