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I.ender't written agreeme~t ar applicable I~w. Borrowe~ shall pay the amount of all mortgage i~turance prcmiums in the
mannr~ pn.vidcd under parag~aph 2 hercof.
Any amaunls dichurscd by I.cnJer pu~suant tu this paragraph 7, wi~h intcrest thercon~ sba11 bscAme additional
indeMednesc of N~~r~ower ~ecurcJ by ~hia Mungage. Unle.~ Bo~row•e~ and l.rnJer agrce to othh~ !`ertnc' ot payment, such
amounts shall t~c payahlc upc~n n~~lire fmm I.rnder to Borrowcr reqixqing paymcnt thcreuf, and shall bear interest from the
Ja~c af dicburscme~t at the ralc payahlc from lime to ~ime on outstanding principal under thc Note unlesc psyment of
intercst at such ntc would be cantrarv to applicablc law, in which cvcnt ~uch amounts thall t~ear interest at the hishest rate
permissible under applicable law. Nothing contained in this parag~aph 7 shall requirc i.ender to incur any espense or take
any action hereu~der.
a. ~sspectioa. 1.enJer may makc i,r cau~c to bc made rcaconable e~trics u~n and inspections of the Property. provided
thal I.ende~ shall give Borrawer notice pri~.~ 1o any s:~ch inspection specitying rcawnabk cause therefor rclated to Lende~'s
interest in the Prope~ty.
9. Co~de~nnstion, 'Il~e p~c~~ds of any award or claim tor damages, dircct ar co~sequential, in conaection with any
condemnation or othe~ taking of the P~openy, or pan thercof. or tor coeveyance in lieu of condcmnation. are hetiby assisood
a~d shall be paid to Lender.
i~ the event of a tot~l taking of the Property. the prceeeds shall be applied to the sums securcd by fhis Mortaage,
with the eacess, if any, paid to Borrower. 1~ the evenl af a partial taking of the Property. unkss Borrowe~ and Lender
aherwise agroe in writing, therc shall be applied to the sums secured by this Mortgage such proportion of the prooxds
as is equal to that proportion w•hich ~hc amo~int of ~hc sumc securcd by this Mortgage immediately priar to the date of
taking boars to the fair market value of the Propcny imm~diately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Properly ic ahandoneJ b~ Borrower. or if. af~er notice by l.ender to Barmwer that thc condemnor ofters to malte
an awa~d or settle a claim for dama~. Bormwer fail. t~ ~ecpond to I_ender within 30 days aher the date such notice is
mailed. Lender ic authorized to collect anel ,~ri.• ~he proceeds. at !_ende~'s option, either to restontion or rtpair of the
Property or to the sum~ cecured h~~ ~hic Ai~rtgage.
Unlesc 1_ender ar.d Borrower otherwi~c agree in w•ritin~e. any such application of proceeds to principal shal) not extend
or pcxtpone the due da~e of the monthly installmcots referred to in paragraphc 1 and 2 hercof or change the amouot of
tuch installments.
10. eorrower Not Releised. Fxtension of the time for payment or modi6cation of amortization of the sums securcd
by this Mortgage gnnted by I.ender to any cuccessor in interect of Borrower shall ~ot operate to rclease, in any manner.
~he liabili~y of the original Borrower and Bc-rrower'c successorc in intercst. Lender shall not be requircd to commence
proceedings against such successor or rctose to etitend time for payment or othervvix modify amortization of the sums
ucured by thic Morigage Ay rcason of ~ny demand made by the oriQinal Borrower and Borrowers successon in intercst.
11. Forbeannce by I.ender NM a Wdver. Any forhearance by I.ender in exercising an.y right or rcmedy hercunder, or
othervvise afiorded by applicabfe law. shall not be a waiver ot or preclude the exercise of any such right or nmedy.
The procurement of insurance pr the payment of tazes or other liens or charges by I.ender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness cccurcd hy thic Mortgaga
12. Remedies Cumulafire. All remedies provided in this Mortgage arc distinct and cumolative to any other right or
rcmedy unde~ this Mortgage or afiorded hy law or equity, and may be exerciud concurrently, independently or successively.
' 13. Srecesaors and As~as donnd; Joint sod Several i.iabAiry; Captbns. The covenants and agreements hercin
contain~d sh:ll bind, and the riRhts hercunder shall inurc to. the respective soccessors and assigns of Lender ac~d Bornower.
subject to the pravisions of paragraph 17 hereof. /111 covenants and agrcements of Borrower shall be joiry and sevenl.
The captions and headings of the paragraphc of this Mortgage are for convenience only and arc not to be u~ed to
interprct or de6ne the provisions hereof.
14. NMice. Except for any no~icc requircd 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 addressed to Borrovver at
Ihe Property Address or at such o~her addresc as Borrower may detignate by notice to t_ender as providEd herein, and
(1~i any notice to Lender shall Fie given by certified mail. re~urn receipt rcquested. to i_enders address staled herein or to
cuch othe~ addrcss as Lender may deci¢nate by notice ~o Borrower as provided hercin. Any notice provided for in this
Mortgage shall be deemed to havc I+een given to Bc~rrow•er ~~r I.ender when given in the manner designated herein.
15. Uniform MoA~s~e; Governin~ Iaw; Se~~erability. This (orm of mortgage combines uniform covenants for national
use and non-uniform covenantc with IimiteJ variations h}• jurisciiction to constitote a uniform socurity instrument rnverina
real property. This Mortgage shal! be governed hv ~he law~ of the jurisdiction in which the Property is located. In the
event that any provision or cla~ice of thic Mortgage ~•r the Note conflicts with applicabk law, such conflict shatl not affeet
other provisio~~s of this Mortgage or the Note whrch can be given efiect without the conflic~ing provicion, and to this
end the provisions of the Mortgage anJ the No1e are ~kclarcd to tx severable.
16. Eorrowe~'s Copy. Borrower shall be furni~hed a contormed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof_
17. Transter ot tbe Property: Assumption. it all or any part of the Pmperty or an intercst therein is sold or trans7errtd
by Borrower without Lender's prior wri~t~n consent. etcluding lal the crcation.of a lien or encumbrance subordinate to
this Morigage. Ib) ~he creation of a purchace m~~ney cecu~ity interest for househoid applianees, (e) a transfer hy devise.
descent or by operation of law• upon the Jcath of a joint tenant or (d- ~he grant of any leasehold intercst of threc ycars or kss
not cont~ining an option ta purchase, Lender may. a~ I.ender'c op~ion, dectare all ~he sums secured by this Mortgage to be
immediately due and payable. Lender chall have Ma~ved s~~ch option to accelente if, prior to Ihe cale or transter. Lendet
and the person to whom the Proper~y ic ~a l,c :o1J or transferrcd rcach agrc~ment in writing that the credit of such per~on
is satisfactory to I_ender and tha~ the inter..~ pa~•able on the sums secured by this Mortgage shall be at s~rch rate ac Lender
shall request. If i_ender has waived the op~ion to accelerate provided in this paragraph 17, and if Borrower a~uccessor in
interest has executed a written assumption agreemem accepted in wriling by Lender. Lender shall release Borrower from all
obligations under this Mor~gage and the Note.
If Lender exereises such opt~on t~ acceleratt. 1_ender chall mail Borrower notice of acceleration in accardanc. M i~h
paragraph 14 hereof. Such notice chall provide a period of not less than 30 days from the date Ihe notice is mailed wi~hin
which Borrower may pay the sums declared due. It Borrower fails to pay such sums prior to ~he expintion of cuch perie~d.
Lender may, wi~hout further notice or dcmand on tiorrower. ~nvoke any remedia permitted by pangraph 1 R hercof.
NON-UNIFORM COVENANTS Borrower and Lender further covenant and agree u tollows:
IS. Accekrslba; Remedks. Exceq as provWed ia para`raph 17 bercof. opw sorrowers brtacM ot awy co~eaawt or
a~reemeat of Eorrower la tbis MortRsRe. includi~ Ibe corenants to Psy wAew dut ~uy wrns stc~rcA 6y this MorlRa~e. I.tuder
p~ior /o actekraHoo shdl mail notice to dorrower as provided ie para~raph 14 hereot spttHyin~: (1) IAt brtacA:1211ht setiow
raquired to cere socb breach;l3) s dste. not kss than 30 dsys fwn~ the dale the notke is mafkd to eonower. br whkA sncl~
beach mwt Se cend: and (4) Ibst failure to cnre srcA brcacl~ ow or se(ore ~be dMe speci6ed ie Ihe ~otke msy resWt i~
aeeekration ot Ibe soms secnred by Ihis Mort~aRe. to~cclowro by jodkial proeeedl~ aad sak o/ tbe h~operty. 71~e nolke
shall fuNher inform eorroner of the riRht to rclnstsfe sf1e~ ~ccekrstio~ snd tl~e risbt to assert is Il~e toreclos~re poceedi~
t6e uon-e~isfence of a detsuN or sny otAer defense of eorrower fo ~ttekation aud toretiosnre. It fhe ere~cA is not cs~+ea o~
or before the dale specified Ia the notice. l_cnder at I.ender•s optio~ ~ declare all of the s~a~s seerrs~ ~ tAb Mort~e to be
imenediately due and psyabk ..ithou/ tuAher demand ~nd a~sy fotrtbst thi~ Mai=a~e br jndkW p~oeeedl~. i.ender cAaq
be eotitled lo coUett in socb proceedinR aq e:penses of forecbsnn. Mclndin~. bot sot limited to. reasonsbk att.~rner's fees.
•Ild COSL~ O~ dOtYllllOlff~ tHdtlKt. abstrscts and ~ilk rcports.
14. donower's R~hl to Reinststc. Notwi~h~~andin~t l ender s accelerat~on ot the sums secured by ih~s Mortga6e.
Borrower shall have the right ~o have any proceed~nc• br~,~m by Lender ~o enforce Ihis Mor~gaqe d~sconlinued at any t~mt
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s~x 345 P~F 6f ?
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