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Lender's writtcn agreement or applicabk law. Borrower shall pay thc amount of all mortgagc insurancc premiums in the
man~er provided unde~ parag~aph 2 hereof.
Any amaunts disbursed by 1_enck~ punuant to ~his paragraph 7, wi~h interest thereo~, shall become additional
indebtedness af Borrower securcd by this Martgage. Unless Borrower and I.ender agree to other terms of payment, such
amaunts shall be payable upcm natice from t.ender ta Bormwer requeuing payment the~eof, and shal) t+ear intercst from the
Jatc of disbursement at 1hc rate payable fram time to time an outstanding principal under the Notc unless payment of
ioterest at such ~ate would be contrary to applicable law, in which event cuch amaunts shall hear interest at the highest rate
permissible under applicable law. Nothing cantai~ed in ~his paragraph 7 shall require i.ender to incur any expense or take
any action hereunder.
8. laspectioa. I_ender may makc or cause to hc made reasonable entriec upon and inspectians af the Property, provided
that l_ende~ shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's
intcres! in the Propcrty.
9, Condem~ation. The prc-ceedc of an~~ award or claim fo~ damages, direct or conuquential, in cannection with any
condemnation or other taking af the Property, or part lhereof, or for conveyance in lieu of condemnation, are hereby assigned
anJ shall bc paid to I_ende~.
In ~he event of a total taking of the Pmperly. Ihe prcxeeds chall be applied ta the cums seeurcd by this Mortgage.
with the ercess, if any, paid to Borrower. T~ the cvcnt of a partial taking af the Property, unle~ Bormwer and I.ender
otherwise agree in writing. there shall be applied to the cums secureJ by ihic Mort~age s~~ch proportion of the proceeds
as ic eqoal to that proportion which ~he amount of the sumt ~cured by thix Mortgage immediately prior to the date of
taking hears to the fair market value of the P~aperty immediately priar to the Jate af taking, with the balance of the proceeds
paid to Bormwer.
tf the Praperty is abandaned b~~ Borrow•er, or if. atter notice hy i.ender to Bormwer that the co~demnor offers to make
~n award or seUle a claim for Jamages. Borrower fails to respond M l.ender within l0 days after the date such notice is
mailed. I_ender is authorized to collect and apply the proceeds. at T.ender's option. either to restoration or repair of the
Propt:~ty or ta the sums secured h~• this Mortgage.
Unlesc I.ender and Borrow~er atherv-•izc agrce in N•riline. an~• surh application of prnceeds to principal shall not exte~d
or po~tpone the due date of the monthly installments ~cferrcd to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Rekased. Extension of thc ~ime for payment or modification of amortization ~f the coms secured
by this Mortgage granted by 1_enJer to am• succecsor in ~interett of Barrower thall not operate to rcle~se. in any manner.
the liability of the original Borrower and Borrower e sucressarc in interest. Lender shall not I~e rrquired to commence
proceedings against such succecsor or refuse to ertenJ time for payment or othen+•ice modify~ amortization of the sums
secured by this Mortgage by rcason af am• demand made b~• ~he ori¢inal Bormwer and Borrower s st~ccescprc in interest_
11. Forbearance by I.ender Nof a Wai~•er. Am~ f~~rhearanre M l.ender in erercisinR an~ right or remedy hereimckr, or
otherwise afTordecl by applicahle law. shall no~ tx a waiver of or preclude Ihe e!cercise of any such right or remedy.
The procurement of insurance or the payment of ta~es or other liens or chargec by l.ender zhal) not F~e a w•aiver of i_ender s
right to aceelerate the mawrity of the indebtednecs uciirrd h~• thic Mortgage_
12. Remedies Cumulative. All rcmeclies pro~•ided in thic 111ortgage arc distinct and cumulative to an~• other right or
remedy under this Mortgage or afforded by law ~.r eyuity, and may he e~erciced roncurrcnth, independenUy or successively.
13. Succeswrs and Assigns Boond: ]oint and Se~eral I.iabilify; Captions. The covcnants and agrcements he~ein
contained shall bind, and the riQhlc hercunder shall inure to, the reapective sucre~sor~ and ascigns of Lender and Borrow~er.
subject to Ihe provisionc of paragraph 17 hcrcof. All rnvcnants and agrecmcntc of Borrower shall be joint and several.
The captions anJ heaJings of the paragraph~ of thi~ Mortgage are for canvenience only and arc nol to be used to
intcrpret or define the provicionc hereof_
14. Notice. Except for any natice required unJer applicable lavr to be given in anather manner. (al any notice to
Borrower pmvided for in this Morteaee shalt he gi~~en by mailing ~uch notice M• certified mail addrested to Borrow•er at
Ihe Property Addresc or at such other addres~ as Barmwer ma~• decignate by notice to LenJer as provided herein. and
Ibl an~• notice to [_ender shall be given h~~ certificd mail. retum receipt reque~ted. to I ender c address stated herein or to
cuch other addrcsc as I_ender may designate b~• n~tire t~ Borrower as pmvideJ herein. Any notice provided for in this
Mortgage shall be deemed to ha~•c tx:en gi~•en to Borrowrr ~~r Lcnder vrhen given in thc manner designated herein.
15. L-niform MoriRa~e; Go~ernin~ I.a..•; Sever~bilit~•. Thi~ form of mongage combines uniform covenants for national
use and non-uniform covenant~ w•ith limite~l variationc M• juri~diction to constitute a uniform securit~ inslrument covering
real proper~y. This Mor~gage shal! he governed h~• thr IJN' (lf IF1C ;uri~diction in which the Propert~~ ic located. in the
event that any provision or clauce of thii 4lortga¢e r.r the '~~~te conflict~ W ith applicahle law~, such conflict shall not afiect
other provision~ of this Mortgage or the Note which can be given efTec~ wiihout the conflirting provicion, and to this
end thc provisions of the Mortgagc and thc '`otc arc dcclared to be ceverable.
16. Borrower's Copy. Borrower tihall F-e flirni~hed a con(ormed copy of the Note and of thic Mortgage at the time
uf execution or after rccorda~ion hereof.
17. Transfer of Ihe Property: Assumption. If all ~.r am• part of ~he Prc~pcny or an interest therein i~ sold or transferred
by Borrow•er without Lender's prior w•riurn r~~nKnt. r~cluding lal the crration of a lien or encumhrance subordinate to
thic Mortgage. (hl the creation of a purchau monec crcuri~~• interes~ for householJ appliances. (c- a tramfer h}• devise,
dcuent or hy o~ra;ion of IaN~ upon thc dcath of ;~ ji~im tcnant or (d- the grant of any Icasehold interest of Ihrec ycars or less
not containing an option to purchase. I.endcr may, a~ Lender'~ ~~ptii~n. declare all the sumc secured bv this Mortgage to be
immediately due and payable. I ender shall ha.•e ~ai~•ed aurh option to accelera~e if. prior to the ~ale AT transfer. Ixnder
and the person to whom the Property ic to be cold or trancferred reach agreement in w•riting that thc credit of such person
is satisfactory to I.ender and that the intere.t pa~•able on the sum~ ,ecare~ by thic Mort¢age shall be at such rate ac I_ender
shail reyuest. If (.ender has waiveJ the option to arcelerate pmvided in ~his paragraph 17, and if Borrower's successor in
interest hac executed a written assumption agreemens accepted in writing by l.ender. i.ender shall releace Borrower from all
obligations under this Mortgage and the NMC.
If i.ender exercises such option to accelerate. I ender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice chall provide a peri~xl i.f noI Icsc than 30 da)'~ from the date !he notice is mailed within
Nhich Borrou•er may pay the sums decl:ueJ due. If Borrower f:~il, ~o pa}• such sums prior to the expiration ~f soch period.
Lcndcr may. wi~hout further noticc or dcmand on 13~~rrawcr, im•okc an~• remedies permitted by paragraph 18 hereof.
NoN-UxiFORnt CoveK~nTS. Borrower and Lender fur~her rnvenant and agree as follows:
18. Acceleration; Remedies. E:cept as providcd in pars~roph 1~ hereof, upon Bormwe~'s breach of aay covenaal or
agreement of Borrower in th's Mortgage. including the co~•enants to pay when due any sums secured by this Mortg~e, Leader
prior to acceleratbn shall mail notice to Borrower ac prorided in paragraph 14 hereof specifying: (1) the breach; (2) t6e action
required to cure such breacb; (3) a dsite. not less it~n 30 days from the date the nofice b mailed to Borrower, by whk6 snch
breach must be cured; and (4) that failure to cure such breach on or before tbe d~e speci6ed in the notke may radt in
accekration of the su~ns secured by Ihis Mo~tgage. forrclosurc by judicial proceedi~ and sak of tbe Property. 'IUe notke
shall further jnform Borrower of the right to reinsts~te after accekration and the right fo assert in the foreclosurs proc~
the non-existence of a defauk o~ anyother defense of Borrower to scceleration and foreclosun. If the breach ~ nof cured on
or before Ihe date specified in the notice. Lender at [.ende~'s option may declan all of tl~e sn~ secnred by tbts Mortga`e to be
immediately due and payabk withont fu~ther demand and mar foreclose th~ Mortgage br judicisl proceedin6. Lender sbaq
be entitled to colkct ia snch proccediag al! e:peases of foreclowre. including. bnt uot l~mifed to, re~sonable attomey's fees.
and costs of documentary evidence, abstracts and titk reports.
19. Borrower's Rig6f to Rei~tate. Notwithstanding [.ender'~ acceleration of the sums secured by this MoRgage,
Borrower shall have the right to have any proceedings hegun by I.ender ta enforce this Mongage discontinued at any time
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