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I.cndcr's writic~ agrcrmcnt or applicable law. BoRawer shall pay the amount ot all mortgage insuraMe premiums in the
mannr~ p~uvidr~l undc~ parag~aph 2 hercof.
Any am~~unh di~hu~sCd l~y I.cn~lc~ purcuant ~o ~his pa~agraph 7, with interccl Ihercon, shall l~ecome addiliooa)
ind~b~cdnc~~ uf Hur~uwcr kcu~d by Ihic Mun~:~ge. Unle~c BorroNC~ anJ I.rnJer agr~ to ~{ber tp~t of payment, such
amount< <hal) hc p:~yaMc ~i{k~n n~~~icr fn•m I.cnder 1o Bor~~~wrr rcq-n~~ing paymenl Ihcr~f~anA shsll hear intercst from the
date of dichurscment at the ~atc payahlc f~om lime to time ~n autstandi~g principal under Ihe Note unlesc payment of
interest at such ~ate wou1J Me contrarv to applicable law, in which event cuch amaunts shall bear interal at the highest rate
pcrmissihle undcr applicable law. Nothing amtained in this parag~aph 7 shall requirc I.ender to incur any expense o~ take
any action hercunder.
S• Inspectioa. I.ender may make ~•r ca~~.c to be made reasonable entries upon and inspoctio~s ot the Property. provided
that I.ender shall give Borrower na~~ce pri~,r t~~ any such inspection specifying reasonabk cause therefor rtlatod to L.eoder's
intercst in Ihe Property.
9. Coademnation. The proceedc o( any award or claim for damages, diroct or consequential, in co~nection with any
condemnation or other taking of the Propeny, or part thercof, or for conveyance in lieu ot condem~atioo. are hereby auiaoed
and shall be paid to Lender.
in the event ot a tolal taking of the Propeny, thc proceeds shall be applieJ to the sums securcd by this Matsaae.
with the exceu, if any, paid to Bor~ower. ln thc event of a partial taking of the Property. unkss Bomower a~d I~eoder
o~herwise agree in writinR. there shall be applied to the sums secured by this Mongage such proportion ot the prooeods
as is equal to that proportic~n w•hich the amount o( the sumc secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Propcrty immediately prior to the date of taking, with the balance of the proceeds
paid to Borrowe~. .
if the Proptrty ic ahandoned by Borrower. or if. after no~ice by i.ender to Bormwer that the condemnor oRen to make
an award or settle a claim for damaec~. Barrower (ail. to recpnnd to l_eoder within 30 days atter the date such ~wtice is
mailed. Lender ic autho~ized to collect and apply ~he praceedc, at i.ender's oplion, either to restontion or repair of the
Property or t~ the sum~ ~ecured by this Mor~gage.
Unles~ t_ender and Bor~ower o~henvice agree in writioe. any such application oi proceeds to principa) shall not extend
or pcxtpone the due da~c ot the monlhly inttallmenls reRrred to in pa~ag~apht 1 and 2 heteof or cha~ge the amount of
such installments.
10. Bonowe~ Not Rele~ed. Extension of Ihe time far payment or mc~di6cation of amortization of the sums securcd
by Ihis Martgage granted by I.ende~ to any cuccec.wr in interect of Borrower chall not opente to rekase, in any manner.
the liability of the oriqinal Bortower and &-rrower'c successorc in interesl. l.ender shall not be required to commence
proceediogs against such soccessor or refuse to ertend Iime for payment or othen-iu modify amoniution of the sums
ucured by Ihic Mortgage hy rcason of any demand made by ~he orieinal Borrower and Borrower s successors in inlercct.
11. Forbesnnct by I.ender Not s Wdver. Any forhearance by l.ender in exercising any righl or rcmedy hereunder, or
atherwise affo~ded by applicable law. shall nc~t be a waiver ot or preclude the exercise of any such right or remedy.
The procurement of insurance pr the payment of taxes or other liens or charges by Lender shall not be a waiver of LendePs
right to accele~ate the maturity of the indehtedness sea~rcd 6y this MortgaRe.
12. Remedies CumulaH~e. All rcmedia provided in this Mortgage are distinct and cumulative to any other right or
remeJy unde~ this Mortgage or afforded by law or equity, and may be exercixd concurrcntly, independently or successively.
' 13. Snecessors and AssiRes Sound: Jdnt and Several f.isbility: Captbns. The covenants and agreements herein
contained shall hind, and the riRhts hereunder shall inurc to. the rcspective successors and assigns of Lender aod Borrovrer,
subject to the provisionc of pa~agraph 17 hereof. ^ll covenants and agreements of Borrower shall be joiry and sevenl.
The captions and headings of the paraRraphc of this Mortgage arc for convenience only and are not to be uxed to
interpret or define the provisions herrnf. -
le. Nofice. Except for any natice rcquircd under applicable law to be given in another manner, (a) .any notice to
Borrower provided for in this Mortga¢e shall be given by mailing such notice by certified mail addresxd to Bc~rrovrer at
the Property Address or at such other addresc as Borrower mav detignate by noiice to i.ender as provided herein, and
(1~) any notict to Lender shall he given hy ttrtified ma~l, retum receipt rcquested. to l ende~ s address staled hercin or to
such other addrcss as Lender may deciqnate hy notice to Borrower as prov~ded hercin. Any notice provided for in this
Mortgage shal) be deemed to havc been given to Bc+rrovver or I_ender v-•hen given in the manner designated herein.
1S. UnNorm Mori~a~e; Covernin~ Iaw; Severabilit~•. Thic form of mongage combines uniform covenants for nationa)
use and non-uniform c~~venants with IimiteJ variations hy jurisdiction to consti~ute a uniform security instrument rnverina
rcal property. This Mortgage shall be governed hv the law of the jurisdiction in which the Property is located. in the
event that any provision or clauce of thic Mortgage or the Note conflicts wi~h applicable law, such conflict shall not affeet
other pravisions of this Mongage or the Alote which can 1+e given effect without the conflicling provicion, and to this
end the provisions of ~he iNortgage and the Note are c{eclared to be severable.
16. sorrower's Copy. Borrowei shall bc furni~hed a contormcd copy ot Ihe Note and of Ihis Mortgage at the time
of ezecution or after recordation he:eof.
17. Tnnsfer of the Propertr: Ascump~ion. If all or any part of the Property or an intertst thercin is sold or tnosferred
by Borrower w~thout Lender's prior wn~~.n ~onsem. excluding (al the crcation ot a lien or encumbronce subordinate to
this Mo~tgage. Ib) ~he creat~on of a purch~cr m~•nevi cecurity mteres~ for houxhold applianees. (cl a transfer hy devise.
descent or by operation of law• upon Ihe Jcalh ot a j~~nt tenant or (d~ the gran~ ot any leasehold intercst of ~hrcc ycars or kss
not cootaining an op~ion to porchase. Lenckr may. a~ l.ender i opt~on. declare all Iht sums secured by this Mortgage to be
~mmediately due and payable. Lender ~hall h-rve Ma~ved such option Io accclerate if, prior to the ~ale or tronsfer. Leoder
and the persc~n to whom the Propeny i. ~a Mc :ol.l nr t~ans(e~red reach agrerment in writing that Ihe credit ot cuch penon
is satisfactory to l.ender and that Ihe imcrr.~ pa~able on the sums secured by this Mortgage shall be at such rate ac Lender
shall request. If I.ender has waived the ap~ion to accelerate provided in ~his paragraph 17, and if Borrower i~uceessor in
interest hac executed a written assump~ion agreemenl accepted in writing by Lender, Lendet shall release Borrower fram all
obligat~ons under this Mortgage and the Notr.
If l.ender exercises such option to accelerate. [_en~ler shall mail Borrower notice of accelerotion in accordancr w•ith
paragraph 14 hercof. Such notice shall prov~de a period of no~ less than 30 days from the date the nolice is mailed within
which ~o~rower may pay the sumc declared due. If Bonovver fails to pay such soms prior to the expintic-o of cuch period.
Lendcr may, w~~hout further notice ~r demand on Borrower, invoke any remedia permitted by paragnph IR hereof.
NON-UNIFORM COVENANTS Borrow~r and Lender (urther covenant and agrce u follows:
18. Accelcnlfon; Remedies. E:cep1 ac provided in pars~rapA 17 hereo/. rpo~ 1omo~+ers beaeb ot sny co~e~t or
a`recment ot BoROwer in this Mort~~e. includin~ ~he eoreaaets to psy ahea due aay soa~s sec~red by tbfs MortR~e.l.enAer
prbr to sctekratbn shdl mail notice to dorrowe~ as provWed la psrq~aph 1~ htreot specKyin~: (/) tAe ~e~ch: t21 the scfio~
required to cure snch bresch; (3) a date. no1 kss tl~an 30 dsrs irorn the date tbe notke b ~naikd to donower. by .-Ak6 srcA
b~each must be cored: aud (4) ~hst Iailure lo c~n swch bresel~ os or betore Ihe date spectlied i~ the nMke n~ay resdt h
•ccekratan of the snms secured by this Mort~aaRe. ~o~erlowre ~ judkial ~oceedi~ sna sale ot the Properry. 71~e uotke
shdl further intorn~ eorrower of the ri~hl to refnstde dlcr ~ceekrstbn sad the ri~Mt 1o as~cr/ iw tbt toreclosr~e Noete~
the rwn-existcnte of ~ defauk or sny olher dtfense of dorrower to ~ccekrstion aad twetlostire. It fAe breac~ is ~ot creta o~
o~ before the dste specified in the notice, l~nder at I.rnder's opios ma~ declane s~ 01 tbe s~~ws seerred by tMis Mat~aRe M tie
immediately due and psysble withnut tuAber dem~nd and n~sy toteebst tAk Mo~~e by jddicial ~rottedh~. I.ender cha11
be eotitkd to collect in wcb Pt~oceedinR sfl e~penses o( toreclosnrs. laclndiu~. b~t wot lin~ite~ to. rc~soesbk sa~-rnrr•s fees.
and costs ot doe~n~estary eridence. sbstrac~c snd ~itk reports.
19. dorrower's Ri`bt to Reinstste. Notwi~h~~anding I ender s accelerat~on of the sums secured by ~h~s Mortaage.
Borrower shat! havt Ihe nght to have am prcxerd~ne. t~~~in by Lender Io en(orct thn Mor~gaqe dncontmutJ a~ any ume
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