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I.ender's written agrcemen~ or applicablc law. Borrower shall pay the amount of all moAgage insorance premiums in the
manne~ provided undor pa~ag~aph 2 hercof.
Any~ amouots dishurud by I.e~der pursuant to this pa~agraph 7, wi~h interest thercon, shall become additional
inJcbtednesc ~if Borrawer secured by ~his Mortgage. Unlecc Borrower and I.enJer agree to othe~ terms of paymeot, such
amountc chall he payable u{+c~n no~ice from I.ender to Bor~owe~ requecting payment thereat, and shall bear interest from the
Jate of dicbursement at the rate payahle from time to time on outsla~ding principal under the Notc unless payment of
interett at such rate Nould be contrary to applicable law, in w•hich eveM such amounts shall bea~ interest at the highest rate
permissible under applicable law. No~hing camai~ed in ~his paragraph 7 shall requiro I_ender to incur a~y expense or take
any actioo hereunder.
8. Inspection. i.ender may make or cause to F+e made reatonahle entriec upon and inspections of the Property, provided
that l.ender shall give Ba~rower natire prior to anp such inspection specitying reasonable cauu therefar relat~d to Lender's
intrretl in the Properly.
9. Condemnatbn. The pr~xeedc of any aW~ard or claim for damages, direcl or con~equential, i~ conaection with any
rondemnation or other taking of Ihe Praperty, or part thereof, or for conveyance in litu of condemnation. arc hercby assigned
and shall F,c paid to I.ender.
1n the e~ent of a total ~aking of the P~aperty. the proceeds chall be applied to ~he cums securcd by Ihic Mongage.
with ~he ercecs, if any, paid to Bormwer. In ~he cvcnt of ~ partial taking at the Property, unl~ss Borrower and Lender
~~~herwice agree in writing. therc shall be applied to the ~umc secured b}~ thic Morigage such proponion of the proceeds
as ic equal to that proportion which Ihe amount ~f the sum+ ~ecured b~• this Mortgage immediately priar to the date of
taking hears to the fair markel value of the Properl}~ immediately prior ta Ihe date of ~aking. with the balance of the proceeds
paid t~~ Borrower.
Tf the Praperty is ahandoned bp Borrower, or if. after notice hy I.ender to Borrower that the condemnor ofiers to make
an award ~r ~etNe a claim for dani;~ge~, Borrower fails t~~ res~nd to I.ender within 30 days after the date such notice is
m;~iled. I.rnder ic authorized to collect and apply the proceeds. at I.ender's option. either to r~storation or rcpair of the
Pro~rty or to the sum~ ~ccured by Ihis Mortgage.
Unlesti I.ender and Borrawer otherwite agree in ~•ritine, any such application of proceeds to principal shall not extend
or Ex,ctEwne the due date of the monthly installments referrcd to in paragraphc 1 and 2 hereof or change ihe amount of
~i~rh inclallments.
10. Borrower Not Released. Fxtensian of the time for payment ar modification of amortization of the sums securcd
bp ~h~s 1liort~age granled b~~ Lender to any cuccecsor in intereu of Banower shall not operate to rclease, in any manner,
thc liah~li~y ~~f ~he original Borrowe~ and Borrow~cr'c successore in interest. l.ender shall not he required to commence
pmceeJingc againu such cuccecsor or refuse ~o e+ctenJ time for payment or otherv~•iae modify amortization of the sums
.e«~red h}• thi~ Mortgage by reason A~ :Itly demand made by the original Borrower and Borrower s successors in interest.
I1. Forbearonce by l.ender ~ot a Waiver. Any f~rhearance hp i.ender in erercising aoy right or remedy hercunder, or
~~~herwitie afiurded by applicable law, shall not t~e a waiver of or preclude the exercise of any such right or remedy.
Thr prcxxurrment of insurance or the paymeM of taxe~ or other liens or chargec by I.ender shall not be a waiver of Lender s
right ta acccleratc the maturity of the indehtrdne~s u:cured h}• thi~ ~tongage.
12. Remedies Cumulatire. All remedies pro~•ided in this Mortgage are distinct and cumulative to any othrr right or
reme.l}• under this Mortgage or afTorded hy law or equit~~. :md ma~• be exerciced concurrently. independently or saccessively.
13. Successors and Assigns Bound; loinl and Se~eml i.iabilify; faptions. The covenants and agreements herein
containeJ shall hind. and thc riRhts hereunder shall inure to. the recpective succecsors and assigns of l_ender and Bortower,
sub~ect to thr provicionc of paragraph 17 hereof. All covenanls and agreementc of Borrower ~hall be joint and several.
The capti~~m ~nJ heaJingc of the paragraphc of thi~ Mortgage are for convenience only and are nM to be used to
~nterprct or define the pravicionc hereof_
14. !~otice. Except for any notice reyuired under applicable lav-• to be given in another manner, (a) any notice to
Bormw•er pmvided for m ~hic Morlga¢e shall be givcn h~~ mailing tiuch notice by certified mail addrested to Borrower at
the Pro~xhy Addre~s or at ~uch o~her addre~~ as B~rr~~w•er ma~• decignate by notice to i.ender as provided herein, and
Ihl am• notice to I.ender shall he gi~•e~ b~• certificd mail. return receipt requected. to 1 ender's address stated herein or to
~uch other addresc as Lender mat~ decign~te b~- notice t~~ Borrower as pro~~ided herein_ Any notice provided for in this
~furtgagc sh~ll hc deemed to ha.~c bcen given to RormWCr or Lrnder when given in the manner designated herein_
15. Uniform ~toriRaRr. GoverninR I.aw: Se.~erabilih. Thi~ f~rm a! mortgage rnmbines uniform covenants for national
u~e and nc.n-unifi~rm co~~enan~~ with limite~l variations h} ~urisdiction to constitute a uniform security instrument crnering
real propert~• Thic Mortgage thall be governed ht thr law of the jurild~4tion in w~hich the Property it located. In the
evenl that an}• provisiun or claute of thi~ ;1lartgage ~•r thc ?~~~te rnnflictti wi~h applicable law~, such conflict shall not aBect
~~ther pn..~ti~,m of thic Mortgage or the ~ic-te ~h~ch ~an be gi~~en efiect Ni~hout the conflic~ing pmviaion, and to this
end the pn.vitionc of ~he Mortgage and the '~ote arc ~I~clared ti- he ceverable.
16. Borrower's Copy. Borrower chall be furn~.hed :~ cunlormed copy of the Note and of this Mortgage at the time
uf etecution or atter mcordation hercof.
17. Transfer of the Propert}; Accumption. If all ~~r am• pert of the Pmpert~• or an interest therein ic sold or transferred
hY BOffON'Lf KIIFII)III I.ender's prior writt~n concenL r~iluding lal the creation of a lien or encumbrance suborJinate to
rh~. vtortgagc. (b) the creation of a purrha~e mone}• ~e~uri~~~ ~nterest for household appiiances, (c) a trancfer by devise,
dcticent or by opcration of la~ upon the death ~f a jrnnt tenant ar IJ~ the grant of any leasehold interest of three years or less
not containing an option to purchase. I.ender mry. at (.ender'~ opu~,n, declare all ~he sumc secured by this Mortgage to bt
~mmediatel}• due and payable. Lender chall ha~~e ~a,ved wrh ~,ption tc accelerate if, prior to the.tale or trans;er. Lender
:~nd the percon to w~hom the Property ic to be soW or Iransferr~d reach ag:eement in writing that the credit of such person
~. saticfac~or~ to I_ender and that ~he intere,t payable on the cumc secured by this Mortgage shall be at snch rale as Lender
~hall reyuest. If I.ender has waived the opti~~n to accelerate provided i~ this paragraph 17, and i( Borrower's successor in
~nterest ha~ executed a written assumption agreement accepted in writing by I_encler, Lender shall release Borrower from all
~~bligations under this Mortgage and the Note.
If (.ender exercicec cuch option to acrelerate. 1_ender tihall mail Borrov~er notiee of acceleration in accordance with
paragraph 14 hereof Such notice ~hall provide a peri~~J of not Iest than i0 days from the date the notice is mailed within
~ahich Borrower ma7• pa} the ~umc declared due 1( BormKer failc ~o pa}• such sumc prior to the expiration of such period,
I.enJer may, withi.ut further n~tice c.r demand on Horruwer. ~mo~.e any remedies permitted by paragraph 1R hereof.
NON-I)NIFOR\1 C~OYF!Y~rTS Rormwer and l.ender further covenant and agree as follows:
18. Acceleration: Remedies. Fxcept zs pro.ided in para~raph 17 hereof~ upon Borrower's bnach of any corenaut or
aqreement of Borrower in fhis `torlgaRe, includio~ the coven~nts lo psy when due an~~ sums secured by this Mortgagq Le~der
prior to accelera~ion shall mail n~ylice to BorraMer as provided in paragraph 14 hereof specifying: (1) the breach; (Z) t6e aetion
required to cure such bre~ch; (3) a date. not fess than 30 days from the date the notice is mailed fo Borrower, by whicb such
breach must be cured: and ~4) Ihat failure to cure such breach on or befon the date speeifitd ia the aotice may resdt in
acceleralion of the sums secured b~ this ~tortgage. fonclosun by judicial proceedin~ and sale of the Property. 'ILt notice
shall further inform Borrower of Ihe righl to reinstate afler acceleration and the right lo aaert In the foreclosure proceedi~
~he non•existence of a default or am• other defense of Borrower to acceleration and foreclosure. If the bresch is not cured o0
or before the date specified in the notice. Lender at Lender's option may declare all of tht snms secured by this Mottaa~e to be
immediately due and payable without further demand and may toreclose tALs Mortga`e by judicial proceediu~. t.eader shall
be entitled to collect in such proceeding all eapenses of foreclosure. includinL~ buf not Umited to. nawnsble attorney's fees.
~nd cosfs of documentary evidence, abstrac~s and ~itk reports.
19. Borrower's Right to Reiastste. hotwithstanding Lender's acceleration- of the sums secured by this Mortgage,
Borrower shall have the right to have any proceedings hegun by I_ender to enforce Ihis Mortgage discontinued at any time
Addeoda~ to Para~aph 15. The state and local laws applicable to this mortgage shal) be the laws ot the jurisdiclion in
which the property is located. The toreqoinq sentence shall not limit the apDticability ~-((edera) law to this mortgage.
~345 P~~ 315