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tinder's written agreement ur apph.ahk law. Harn+wer shall pad the anraunt ul .dl motlg;,tEt~tintturan:e p~rnnnus in the
manner pr.+vided under par.?gtaph 3 hereof.
:M~• an+tauus di.hurced M• 1 critter pursuant to this par.tgraph 7. woh tnterest thereon. ,hall become additional
indrhrcdo.•„ .+f ti.+rr.+w.•r ,reared by rhr, Alrrtzagr l'tth~„ Anrrtmrr :Ind I crr.!er acres in Mher terms of paomcnt. ,ttch
antaunt„hall Ix pacahlr upon nt+tire from I ender h+ B++rrt+wer reyue,ting pa~•ntrnt there(+f.:uxl ,hall I?rar inMresl from the
(late of di,httrcemrnt at the rrtr pax•;thlr from time to time t+n outctandine principal under the !dote unless payment of
interest at such rate ~+ou!tl t+e cantr;tr~• to appli~ai+le la~~. in ~~hich c~•cn( ~u~h amounts .hall hear intcrcct at the highest rate
perntiscihle nnder applicable faux. Nothing contained in this paragr-.rph 7 shall reyuirc Lender to incur any expense or take
:uty anion hereunder.
8. Inspection. Lcndrr mac m;tke or c:utse to he made reaconahle entries upon and irspcctions of the Property. pmvitled
that I rndcr shall gioe Borrower notice prior to am• wrh inspection specifying reax+nahlc c:ut.c therefor related to I tinder's !
intere,t in the Pn.pcrty. i
9. Condemnrtion. The prt+reedc of an)• award or claim far damages. direct or ronccquenti:d. in connection with am•
condemnation or other taking of the Property. or part thereof, or fur canveyanrr in lieu of candemnatiun. are hereby ac,igned
anti ,hall he paid tt• Lender. j
In the cocnt of a (Mal ta{,ing of the Tropcrty. the pn.cceds shall he applied to the cttmc secured by this Mortgage. ~
with the rtt-ccs. if ant•, paid tt• Borruwrr. In the evcM rf a partial ta{.ing of the Prapert~•, unlc« Borru~~cr and I.cndcr 4
utherwi,r aFrcc in wrilin~•. there shall I+c applied to Ihr wms secured hx• Ihi, \1ortHagc such propt+rtit~n of the proceeds
ac is cyual to that pn+p++rtion which the amount of the cum, ,ecnred M' this Mortgage immrdi:+teh• prior tr the date of
taking tx:ars to the fair market value of the Proper!) immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoned ho Rtxmwrr, nr if =+ftcr n+~tict• t+x• I._•t+der Al~rr="+•er !hat the ci+^.rlctrtnor o!Tcr4 !r !±33!!e
an aw;rrd or settle a claim far damage,. Brrmwer faih h+ re,l>.+nd to I ender within Ztl dace a(tcr the date ,uch notice is
mailed. Lender is authorized to called and apply the procrcdc.~ at I.cndcr: option. either tt. rccroration or repair of the ,
Propeny or to the some secured h~ this \iortgagc.
L`nlesc Lender and Borrower Mherw•i,e agree in writine. anv such application of pn?ccedc to principal ,hall not extend
or ptntpone the due date t•f the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower 1*101 Released. Extension of the time fur payment or modification of amortisation of the toms secured
by this Mortgage granted by I ender to am succeswr in intere,t of Borrower .hall not operate to release. in :mv manner.
the liability of the original Borrower and Borrower'. succec,ors in intcrcct. I.cnder shall nM he rcyuired to ctcmmence
prt+ceedingc against such successor or refuse to extend time for payment or otherwise modih• amurti~atioa of the sums
secured by this Mortgage by react?n of any demand made by the orieina) Borrotoer and Borrower s cucceswrs in interest.
11. Forbearance by Ixnder \ot a Waiver. Anv forF+car:crier hc• Lrndcr in exercising am right or rcmcdo hereunder. or
~aherwiu afiurdcd by applicable law. sh:dl not he a waiver of or preclude the exercise of :mo ,uch rich( or rcmedv.
The prtxurement of insurance or the payment of taxes or other liens ur charges h~• Lrndcr shall not he a waiver of Lcnder'c
right to accelerate the maturity of the indchtrdnexs ,r.ured h}' this ~iotlgage. •
12. Remedies Cumulative. .All remedies pm.idetl in thi, Mortgage arc distinct anti cumolativr to :utv ++thcr right or
remedy under this Mortgage ur afforded ho law ar ryuity.:urd may he exercised concurrently. indepcndcnth- or wrrr,sioely.
13. Successor and Assigns Bound: Joint and Seseral Liahilih: ('options. The coxenantc and agreement, herein t
contained shall hind. and the ris;hts hereunder shall inure to. the rc,pectioc sucre,u+rs and assigns of 1_endrr and Borrower.
:object to the provisions of paragraph 17 hereof. All covenants ant! agrecmrnts of Borrower shall be joint and ,corral.
The captions and headings of the paragraphs of this Mortgage are far convcnicnce only and are not to Fx: used to
interpret or define the provisions hereof.
14. \otice. Except for any notice reyuired under applicable law to t+r giocn in another manner. !a) any notice to {
Harrower pms•ided fur in this \iortgage shall he given by mailing such notice hx certified mail ;rddressed to Borrower at
the Propctty Address or at such tuber address as Borrower mao_ dc,ignatr ho n++rrc to 1 coder ac provided herein. and
Ih) am notice to I.cndcr ,hall he giocn by ccrtifnd mail. return receipt reyueaed. to 1 tinder's adtlresc stated herein or to
,uch other address as Lrndcr may designate by notirc to &•rr++wrr ac praoidcd herein. :1nc• notirc provided for in this
~lurtgage shall Ix: deemed to haoe been giocn to Borrower or 1 ender whin giocn in the manner designated herein.
I5. l'nifnrrrt 1forlgaKc; Governing Law: Se.erabilih•. •Thi, f++rm ++t mortca(r combines uniform ct+vcnants for national
ucc and non-uniform rtn•cnaMs with•limitrd s•ariations h_o iuriuhrtiun tr canstitutc a uniform sccurito instntmrnt crncring #
real property. Thi, ~lortgagc shall he governed by the law of the jurisdiction in which the Property is h+cated. In the
~'i event that any provision or clause of this Morigac+r ur the late conflict, with applicahlc law. such conflict ,hall oat attest
other prasisii+ns of this Mortgage ar the tote which ran he gtsen elTert tsi!hout the conflicting pmoi,ion. and to this
end the prosisiom of the Mortgage and the \otr are Declared tt. he ,rs•erahle.
'i 15. Borroiser's Copi. BOrit+wer ,hail i+e funri,heti amf++rmcd ropy tit the Note and ui thi, Mangagr at the time
of cxerution or 'after recordation hereof.
i i7. Transfer of the Property; Assumption. If all or ono part of the Property or an interest therein is ,old or trancferrcd
M• Borruwrr without l•.ncier's prior written consent. excluding tat the creation of a lien or enrumhrancc subordinate to
~ this Mortgage. Ih{ the creation of a purchase maned ,rcurirr• interest for househuW appli:mces. (cl a transfer M• devise.
F descent or by operation of L•rw upon the death of j++tnt tenant ar /d+ the grant of :am' Icauhold interest of three years or Ices
not containing an option to purchase. 1 ender mao_ .:+t I ender', aptton. declare all the cum, secured by this Mortgage to he
~ ~mmediateh• due and paoahlc. 1 rndcr shall h;ne w:+ivrd .uch option to accelerate if, pricer to the ,ale or transfer. 1_endcr
.rod the pcra+n to whom the Property i, to t+c sold ur transferred reach :tgreemrnt in writing that the credit of such person ,
is saticfacton• to Lrndcr :end that the imere,t pacahlc an the sums secured M• (tile Mortgage shall he at such rate ac Lender
~ ,hall rrgoest. If Lender has waived the opti+a+ to accclcr.,te pms•ided in this paragraph 17, and if R;ormwer ti successor in
interest ha, executed a w•rittcn assumption agreement accepted in writing M• 1_rndcr. I.endcr shall release Borrower from all
~ obligations under this Mortgage and the No1C.
If Lender exercises such t.ption to accelertte. I ender ,hall mail Borrower notirc of acceleration in arrnrdance with
paragraph 14 hereof. Such notice ,hall provide a pcrital of not Icss than 10 days tram the date the notice is mailed within
f which Borrower may pay the some derlareJ due. If Borruwrr faih to p:r}• such wms prior to the expiration of sash period.
f Lrndcr may. H•ithout f!trthrr notice or demand on H:?rruwrr. ~m•oke ono remedies permrtteti by paragraph IR hereof.
Nox-lJtvtFOast COVENA!vTS. Borrower and Lender 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 whin due any sums secured by this Mortgage, i.ender
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; 12) the action
required to cure such breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower, by whkh such
i breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may recd( in
accekration of the sums secured by this ;frtortgage. foreclosure by judicial proceeding and sale of the Property. 'I7te notice
I shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding
the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the breach is dot cured on
or before the date specified is the notice. Lender at Lender's option may declare cep of the sums secured by this Mortgage to be
immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall
be eatiHed to collect in such proceeding all expenses of foreclosure, including, but not limittd to, reasonable attorney's fees,
and costs of docomentary 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 any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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