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I.ender's writ~en agrcemcot or app{icablc lew. Borrower shall pay the amouot of all mortgagc incurar~ce prcmiums in the
mannrr pruvidcd undcr paragraph 2 hercof.
Any amoun~s di~bu~srd by LcnJcr pur~uant la this parag~aph 7, with intercst thcrcan, shall become additional
indcfi~edne~c of 8ormwr~ ~rcund by th~c Mi~n~age. Unle~s Borruwer and LrnJer agoe~ Ic~.oM~fr'tttms of payme~t, such
amountc chaQ he payable u~~n n~~ticr fmm { rnder to &~rrow~er rey~x~ling paymrnt thereof. and ~hall bear interest from the
date o( dicbursement at the rate Qayahle fn-m time ta lime an otustanding principal under tfie Nate unlesc paymeM of
interest at such rate wauld t+e cont~arv ~o appli.able law, i~ which event ~uch amounts thall bea~ i~te~est at the highest rute
pennissible under applicable law. Ne~thiog containeJ in ~hic paragraph 7 chall requirc t.ender to incur any eapense or take
any action hereunder.
8• laspectioa.~ I.enckr may makc.,r rau.c to he made rcaco~able entriec t~pon and inspections of ihe Propeity. provided
that l.ender shall give Borrower not~cc pri~-r lo •rny such inspect~on spccifying rcasonabk caust theretor rclated to Lender's
interest in the Proporty.
9. Coodemnation. The p~c~ceedc o! any avvard or claim for damaga, diroet or rnnsequential, in canr~ection with any
condemnation or dher taking of the Propeny, or pari thercof, or tor conveya~ce in lieu of co~demnation. are hereby usianod
and sha11 be paid to I.ender.
[~ the event of a tolal taking of the Propeny. the proceeds shall be applicJ to the sums securcd by this Moriaaae.
with the ezcess, if any, paid to Borrower. In the event ot a pariial taking of the Property, ~mlcss Borrower and I.toder
o~herwise agrce in writing. there shall be applied to Ihe sums secured by ihis Mortgage such proportion of the pmoeeds
as is equal ta that propottion v-hich ~he amoun~ of thc sumc securcd by this Mortga~ee immediately priar to the date af
taking bears to the fair market value of ~he Praper~y imrnediately priar to the date o( taking, with the balance of the proceeds
paid to Borrower.
If the Property ic aMandoneJ by Borrower. or if. after notice hy i.ender to Barrower that the condemnor of~en to mate
an award or settle a claim for Jamaee,. A~•rrower tail. to recpond ta t.ender within 30 days a[ter the date such notice is
mailed. I.ender i~ authorized to callect and apply Ihe procecds, at 1_endcr's option, titfiet to restoration or r+epair of the
Pmper~y or to the sumti +ccured by Ihis M~r~gage.
Unlesc l.ender and Borrower otherwice agree in w•rit~nc_ any such application of procetds to principal shall not extenc:
o~ pcxtpone the due date of the monthl~ inslallments rcierred to in paragraphc 1 and 2 heteof or chanae the amou~t of
cuch installments.
10. Borm~+er Nof Rckascd. Extension of the time for payment or modification of amortiution of the sums socurcd
by this Mortgage granted by l.ender to any cuccessor in in~e~ect of Borrower chall not opente to r~tlease, in any manner,
the liabiliry of the o~iginal Borrower and Borrower's succescorc in inttrcst. i.ender sha11 oot be rcquired to commence
procetdings against such successor or rcfuse to ettend time for payment or otherwice modify amo~tizat~on ot the s«ms
secured by thic Martgage hy rcason of any demand made by the orieinat Borrowcr and Borrower's successors in interect.
11. Forbeannce by l.ender Not a Waiver. I1ny f~rhearance by l.ender in exercising any right or rcmedy hercunder, or
olherwix a(forded hy applicable law, shall nat be a waiver ot or preclude the exerciso of any such right or remedy.
The procurement of insurance Qr the payment of tazes or wher liens or charges by i.ender shall not be a waivet ot Lender's
right ta accelerate the maturity of the indebledness cecorcd hy this Mortga~te.
12. Remedies CnmulaH~e. All remedies provided in this Mortgage are distinct and cumulativt to any other right or
remeJy under this Mor~g~ge or afforded hy layv or equiry, and may be eae~ciud concurrc~tly, independenNy or successively.
~ 13. Snccessoa and Assi~as Bound:.Joiet aod Sere~al I.iab~hy: Captbns. The covenants and agreements hersin
conuined shalf bind, and the riRhts hereunder shall inure to. Ihe respective successors and assigns of Lender a~d Borrower.
subject to the provisionc of paragraph I7 hereof. All covenants and agre~menis of Sorrower shall be joiry and several_
The captions and headings of the paragraphc of this Mortgage arc for convenience only and arc not to be used t~
interprct or define the provicions hereof.
14. Notice. Except for any notice rcquircd under applicabl~ law to be given in another manner, (a) any notece to
Borrower provided for in this Mortga¢e shall be given by mailing such ~otice by certiRed mail addressed to Borrower at
the Properiy Address or at such dher addres~ as Borrnwcr mav designate by no~ice to i_ender as provided hertin. and
(b) any notice to Lender shall he given by certificd mail. re~um receipt rcquested. to t.enders address suted herein or to
such other addrtss as [_ender may decignate by notice tc. Borrower a"s provided fierein_ Any notice provided for in this
Mortgage shall be deemcd lo have t+een g~vcn to Bc-rrower or I_ender w•hen given in the manner designated herein.
1S. Uaitorm Mort~a~e; Covcrnin~ [aw; Se~~erabilily. This form of mortgage combines uniform covenmts for national
use and non-uniform covenantc with limited vanations hy jurisdiction to constitute a uniform security instrumtnt rnverina
rcal property. This Mortgage shall be governed hy the !aw of the jurisdiction in which the Property is located. In tht
event that any provision or clauce of thia Mortgage or ~he Note conflicts with applicabk law, such conflict shall not affect
other provisions ot this Mortgage or Ihe N~tr wh~ch can be given efkct without the Conflicling provicion, and fo this
end the provisions of the Mortgage and ~he NMe are declarcd to be xvenble.
16. eorrower's Copy. Bo~rower chall be furniched a conformed copy of the Note and of this Mortgagt at tht time
of execution ar after recordation herrnf.
17. Transfcr af fbe Propartv: Accump~ion. 1( all or a~y part of the Pmperty or an intercst thercin is sold or /nnsferred
by Borrower without Lender's prior w~iti~n ~o~sem_ excluding lal the crcation ot a lien or encumbrance subordinate to
this Mortgage. (bl ~he creahc-n of a purchacr m~~ne}• cecuri~y mterest for household applianc~s. (cl a trancter hy devise.
descem or by operation of law upon thc dca~h of a j~.m~ tenam or (dl ~he gront of any leasehold intercst of thrcc ycars or kss
not containing an option to purchase. [ ender may. at l.ender'~ option. declare a11 ~he sums secured by Ihis Mortgage to be
immediately due and payable_ L_ender chall ha.•e ~ erved such oQl~on to accrlente if, pcio~ to the wle or transfer. Lendet
and the person ~o whom the Pro{xrty i~ ~~~ tx .oIJ or ~ransterrcd reath agrerment in writing that the credit nf cuch pcrxon
is satisfactory to LenJer and ~hai ~h.~ in~rrr.t pa~•able on the sums secured by Ibis Mortgage shall be at such rate ac Lender
shall rcquest_ If l.ender has waived thc op~ios~ to accelerate provided in ~his paragraph 1T, and if Borrower> >uccessor in
interest has executed a wri~~en assump~ion ag~eemenl accepted in writing by Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
If Lender exercises such opt~on t~ accetera~c. LenJer chatl mail Borrower notice ot acceleration in accordanrr Ni~h
paragraph 14 hereof. Such no~ice chall prov~de a Qeriod o! not less than 30 days (rom the date the notice +s ma+led wi~hin
which Borrower may pay the sums declared due. It Borrower tails to pay such sums prior to tht expinlion of ~uch period.
Lender may, wi~hout further ~otice or dcmand on Horrower. ~nvoke any remedia permit~ed by paragraph IA hercof.
NON-UNIFORM COVENANTS Borrower and t_ender (uhher covenant and agree u follows:
I8. Accele~stae: Remedia. Ezceq as provWed ia pan~raph 17 bereof. ~po~ dorrowers b~eacl~ ot ~Ay co~~uawt or
a~resmeat of dorrower in this MortRa~e. includl~ Ihie corenanls to psr whts due any sums set~rtd 6r tAts MortRaRe. Ltnder
prior lo xctkratba shall mail notke to dorroN'e~ as provWed Iw Parsinph 11 Aereof specttYia~: (1) tl+e Mesch: t21 tAe setiow
rcquired to core such brrach;l3~ s date. ewt less lhan 30 days lrom ~he dde the notke is mafkd to dorrower. by ~•hkh sucU
b~each mmt be cnrcd: aad (1) thst tailure to cu~e sncb bre~cA os or Sefore Ihe dste specified in tAe notke msy resWt i~
accckration oi t6c snms aecund sy Ihis MortRaRe. to~eciosure by judkial pfoctedi~ aad sak of /Ae Properry. 7bc notkt
shdl further intonn Eorrower ot IAe ri~h~ to nieslste afler aecekrstb~ sud t6e rkhl fo asseA i~ the toreclosrre ~noceedMK
tbe non-exislence ot a defsuN or sny Mher defense o( Eorror-er fo ~ccekMiow ~wd toretlo~en• ~t fbt brt~cA b not certd o~
or befon the dite speeifi~d in the notice. Lender at t.ender's oplbw w~ deelare a~ ot tbe s~n~s sec~red b7' ~afs M°~tRa~e r° be
ima~ediately dut snd fsYabk without tuAber dem~na and tnsy torec{ose thk Mo~aEe bY ~-die{d Proeeedh+R. {.endcr sA~p
be eotitkd to collect in s~ech proceedi~ iM espenses of (orecMsure. Ipcludia~. brt wot Ya~i1d ~o. reason~~ie sn.,rn~r's fees.
and costs of duc~rsedary tddence. sbstncts ~nd ~itk reports.
19. domnwer's Ri~1~1 to Reinst~te. Notw~lh~trnd~ng 1 ender s accek~ation of the sums secured by ~h~s Mortga6e.
8otrowt~ shall have lhe right to have any prcketd~ne~ heF~~n b~ lender to en(c-rce tk~s M~ngaRt d~scoMmued at any Umt
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