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I.ender's written agreement or applicablc law. Borrov-cr shall pay the amuunt of ail mongagc insurancc premiums io thc
manner p~ovidcd under pa~agraph 2 hcreo(.
Any~ amounts disbursed by I_ender pur~uant ~~~ this paragraph 7, wi~h intcresl thereon, shall t+ccomc additio~al
inJcbtedness af Borrow~er secured by thic Mangagc. Unlecc Borrow~cr and I.cnder agrc~: to othcr ~erms of payment. ~uch ~
amou~ts shall be payable upcm notice from Lender to Bormwrr reyuccting paymcnl thcreo(, and ahall hcar interest from the
date of disbursement at the rate payahlc f~om time to timt on outstanding principa) under the Note unlcsc payment of
interest at such rate Koulcl be contrary ta applicable law, in w•hich event si:ch amounls chall l~ear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall rrquire I_ender t~ incur any expense or take
:-ny action hereunder.
8. Inspectioa, i.ender may makr or cause t~ t+e made reasonable entriec u{x~n and inspectionc of the Propetty. pmvided
that l.ender ~hal) give Barrower nMire prior to any +uch inspection ~pecifying rcasonable cause therefor related ta I.e~der'c
intcrest in thc Propcrty. ~
9. CondemnatMn. The prcxeed~ of ;im• award or claim for damaecs. direct or concequential, in rnnnection with any ~
condemnation or Mher t~kinc of the Property. e.r part ~herrof, or for ronveyance in lieu of condemnation. arc hereby accigned
an~l shall t~c paid ~o i.cndcr.
)n Ihc event of a total t~kinc oi ~hc Pr<~~xr1)•. th~ pr~kccdc chall hc applicd to ~he ~umc cecurcd by Ihic Mortgage.
wi~h the r~cccs, if am•. ~aid to Bo~r~-~~•cr. ln the ev.n~ ~~f a p:~rlial takine ~~f Ihe Property, unlecc Rorraw•er and i.ender
~~thcrwi.~ acrcc in ~~ritin~_. thc-r ~hall hc applictl lo th~ ~um~ krurc~l M• ~hic Mortcage cuch proportion af the proceeds
;~s ic cyu;il tc• that pra~~rlirn ~chich ~hc amaiuU ~f thr cum~ .rcurrd h~• thi~ !1tort~aec immcdiatcly prior lo Ihc date of
taking hcar. to thc fair markcl ral~i~ i~f Ihr Pru~xrl~• immcdiatcl~• pri~r to thc ~late of ~aking. a•ith the balance of the prcx-eeJs
paid t~ Bor~ow~cr.
If thc Pmperl~• ic ahandonc~l h~• Ri~rrc~~~rr. or if. :~f~rr n~~~icc h~• 1 cndcr t~ Bormwcr that thc rnndcmnor offers ta make
;in a~rard ~r .ctllc :~ claim fnr JamaL~~. R~~rmN•~r fail. ~~~ rr.{+~~nd t~• 1 rndcr H•ithin 30 da~'s ahcr thc datc cuch notirc is .
mailcd. I_cndcr ia authoriTCd to collcct and :~~~~~• thc pr~xccdc. a~ 1 cndcr'c ~.ption. cithcr to rcctoration or rcpair of the ~
ProEx~t~ or to thc sum. SccurMl h~• thie ~torteaec.
Unlrs. I.ender and Borro~+cr othenvice agree in ~~ rilim_. am• ~urh ~~~r~:ui~~n ~f prc-eeedc to principal shall not extend
ur poctp~~ne the due d~~e ~~f thr montM~• inst~llmrmc rcferrcd t~ in ~~raeraph~ 1 and '' hercof c~r chanee the amount af
~uch inslallment~.
10. Bormwer ~iol Released. F~tencion of the ~imc far p~~~ment or mc~dification of amorti~ation of the s~~mc secured ~
by th:~ Mon,~acc gnntcd by I.cndcr t~ am• ~uccecw.r in intrrc~t ~•f B~rmucr ~hall not operate to rclease. in any manner.
the li:-hilitc uf the orieinal BorroHCr and Rorn.w•rr'. tiucrrc~~-r~ in intrre~t. l.ender ahall not tx rcquired to commence
prixccdingt againct ~iich sticrcccor or rcfu~c tc~ c~lcml timc f~r paymrnt ~~r othcrwiK mcx9ii}• amnrtization of thc sums
~erured h~• thic Mortgage by rcacon e.f an}~ demanil madr b~~ thr orieinal B~xn~.~•er and R~•rmw~er c cucce~u~rc in interest.
11. Forbeantnce bv i.ender !~ot a Wai~'er. :~nr f~~r~arame h~- 1 rnder in errrci~in~ :~m• righ~ c-r remed~~ hereunder. ar
~~therwise afTurded h~• applicahle I:~w. ~h:Jl n~t !x :~ Hai~•e~ ~~f ~~r preclude Ihe e~ercice of am• tiuch right or remedy. ~
Thc procurcmcnt of insurancc or thc paymrnt c.f t:~~r. ~~r ~~thcr licm ~~r chargc~ h~• I.cndcr ~h~l! nM hc a~~aivcr ~f I.endcr's ~
right ti• acccleratc thc maturil)• of Ihc indchtcdnc.+ .c~ urcd M thi~ '~lorteaec. ~
12. Remedies Cumulalive. All rcmalic~ pn~~ idcd in thi. \tnrtga¢c arc distinct and cumulativc to any athc~ right or
rcmc~ly undcr this Mortgagr or affordcd M• IaN• ~-r cyuit~~_ .md mac hc c~crciccJ concurmntl)~. indcpcndcn~l~~ or succccsivcly.
~ 13. Suecessors and Atsi~ns Bound: Joint and Se~eral i.iabilih•: ('aptionc: The cavcnants and agrcementc herein ' ~
rnn~ainc~l ~hal! hind, and the riehtc hercunder tihall inure Ie~. th~ n~pecti~~e ~uree..orc and accignc of l.ender and Borrower. _
tubjcct ta thc provicion~ of paragraph 17 hcrcof. :~II r~~vcnants an~l acrccmcntc of Born.~.•cr shall hc j~~int and scveral.
Thc captions and hcading~ of thc paraer:+phc ~~f ~hi~ ~1~rteagc arr f~~r convcnicncc ~~nly and an no! to he uced to
intcrprct or dcfinc Ihc provician~ hcrcof.
14. Notice. E?ccept for an)~ notice rcyuircd undrr :~~~n~:eMe I:~~~ t~- be eiven in another manner. (al any notice to
B~~rraw•cr pmvidcd for in thi~ 41~~rtgaec chall tk eiv~n h~ mailin~ .urh m~ticc M• rcrtificd mail addrecccd to Bormwcr at
thc Property Addre~c or at ~uch uthcr ~ddre.. as B.~rr~•crc~ mav dc~iert:nc M• notirc t~~ t.cnder ac providcd hcrcin. :~nd
Ibl am~ notice t~- I.ender shall tx ei~~cn hy ccrti8ed mail. rcturn reccirt reyoe~ted. t~. I ender c address stated herein c-r to
wch uthcr addret~ ac I.rndcr ma} dccicnatc h~ n~ticr tr R~~rrnwcr ac pm~•idcJ hcrcin. An~ nolicc pmvidcJ for in thi~ ~
~turtgage sh~ll Fx deemed ~o ha~•c b~:cn givrn to H~rr~n~cr or 1 cnder ~~hcn gi~•cn in thc manner decignated herein.
15. Uniform ~torlRaRe; CoverninR I.aw: Se~crrbilih. Thi~ t.~rm of mongaec camhines uniform c~venanta for national
ucc and nomunifarm ~~,ccnant~ ~~ith limi~c.i ~:~riati~.m M jiiri~~li~ti~.n t~~ rortctitulc a uniforn- sccurit}• in~trumcnt rn~•ering
r~al propcrt~•. Thic ~iortgaec ~hall h~: c~~~rrnrd M thc la~ ~f thc juri~.iirti~~n in ..•hich thc Pro{-crtr i~ Icxatcd. In thc i
~vcnt th:~t any provision i,r clau.~ af thic ~1nrtL:~gr ~~r ~hc \.~tc a~nflirt. ~~i~h :ippli::~hlc law•. sunc ~onflict ~hall nM aficct j
iHhcr pti~~'itiit-n~ of thia Mortgacc .•r thr N~~tr ~•h~~h ~an F+c ziv~n clirct ~~ithc~ut thc conllirting pmt'icion, and lo thts ~
~i~C~ iti~ ~.i(l:iGiiliiG i7i iiiL' ~~i~ftC.i~C :iiiC~ liil' ~it1~ :iiC •}l'~~:i:l'L3 SlZ ~'l` ~C~CT~~`.~1. ~
16. Borrower's Copy. Borr~-~~er .hall t+~ fnrni.hcd a rrnf~~rmrd r~~p~~ ~~f thr N~~r .md c•f Ihic ~lorteagc at 1hc time
~~f c~crution ~~r ahcr rerordation hcrcc•f_
17. Transfer of /he Propert~: A«umplion. If all ~~r :ui~ p.irt ~~( thc PmEx rt~• ar an inlcrest thrrcin ic .~.Id or tranderred
M' Bnrn-w•cr Hith~~ut I.cndrr'~ pri~~r ~+rittrn ~.~mrnt. r~~ludini i•~~ Ih~ rrc:~ti~~n of :i licii ~~r cnrumhrancc ~aFxxdinatc tn
thi~ Mnrtcagc. Ihl thc crcation ~•f a pur.fi:~.r m~~nr~• .rcuri~~ intcrcc~ f~~r h~~~icchol~ applianrca. Icl :i tramfcr M• dc~•isc.
d~~ccM ~~r h}~ ~~~xr~tion of I:~u upc~n Ihr Jrath i~l .i i~~inl Irnanl ~~r (~1~ thc cran[ i~f ant~ li:~uhnld intcres! ~~( Ihrcc )~car~ or IC«
not rnntaining an ~.ptiun ti, rurcha~c. I cmlcr m:~~. .it I rnJrr'. ~~~t~nn. dcclarr :~11 ~hc ~um. ucurcd M• this ~1~~rtgaec t~ hc
immc~lial~l~- duc and pa~':~hlr. 1 rnd~r ~hall h:~~c ~~:n~rd .u:h apti~~n ir acrclcratr i(. ~-rior t~~ Ihc ~alc ~~r trancfcr. LcnJer
anil thc pcr«~n to H•h~.m Ihc Pr~~~xrt: i. t~~ t+c ~~+IJ ~~r Ir.~n+trrrrJ rr:-:h ;~,,rrrmcnt in ~ri~me that thc rrc~lit ~f ~uch ~-cr~c•n
i~ satitifacton~ a~ Lcnilcr and that th~ intcrr.~ p:i~.ihtr un ihr .i~m. .rcurcd h~ thi. ~1~~rt~agc ~hall F-c at a~rh ratc a~ Lcnder
~hall rcyuctit. If I cndcr ha~ w•ai~cJ thr ~~p~irn t~. :~~~~trr.~tr rrr~•id~J in ihi, p:~r:iLraph 17. and if R.~rrow~r'~ •uc~css~~r in
int~rc~t ha~ c~ccutcd a urit;cn asciim~•ti~n acrccmrnt ar.c~tcd in ~~rit~nc h~~ 1 rnitcr. I rnilcr ~h:~ll rclr:~.c B„rr~~wcr from all .
~~hligati~n~ un~lcr thic Mi~rte:~~c and thr `~~IC.
If 1 cndcr c~crci.r~ ~urh ~~pti~~n 1~• arc~lrr.i~r. I rml~r .h.~ll m,iil I;rrr~,wcr n~.ti~c ~~f :~rrclcrah~,n in :~c~i~rdanr~ Nith
raragraph I~ hrrc~f. S~ich nrtice .h:~ll rn~viJc .~ ~xrir~l ~~1 n,a lr~. than t(/ Ja~. frrm Ihc datr thr noticc ic mailcd within
~.hirh Bc,rr.~ucr ma~~ ra~ thr •um. Jcri.irr.f dnc It R~~n~~~.~r t.r.l. ~o {~a~ .i~.•h .nmc prii~r t~~ thc c~pir.~ti~~n ~~f ~u.h pcrickl.
Lcnd~r ma~-. ~~ith~~w (urthrr ni~tii~ ~~r ~trm:u~d ~~n {i~~rr~~u~r. ~:nr{.~ :im rrm~dirc ~rmrt~c:l M~ paracraph I~t hcrcof.
tio~-U:v~FOK~t CO~'FV~~TS B~•rmwcr and I cnJcr furthcr c~~~~n:~~~t :ind aerec a~ fnllc~ws:
18. Acceleration: Remedies. Fxcept ac pro~ided in paraRraph 17 hereof, upon Borrow•er's breach oi am~ co~~enant or
aRreement of BorroM•er in Ihic ~1ort~a~e, includinR the co~enanlti tn pa~ when due am~ sums secured by this 11orl~age. I.ender
prior Io acceler~tion shall maii nolice to Borrow~er ati pro.ided in para~raph 14 hereof specif}in~: (1) the breach; (2) the aMion
requircd to cure such breach; (3) a date. not le~c Ihan ;0 da~ti from Ihe date the nolice is mailed fo Borrower. by which such
breach must be cured; and (4) thaf failure to cure ~uch breach on or before the date specified in Ihe notice may nsult in
acceleration of ihe sums secured b}- thic ~1ortRaRe, foreclo~ure b~ judicial proceedinR and sale of the Property. 'il~e notice
shall furlher inform Borrower of Ihc riRhl tn rein~late afler acceleration and tbe ri~ht to acsert in the foreclosure pmceedin~
~he non-exiclence of a defauit or an}~ other detence of Borrower tn ~creleration and foreck~sure. If the breach is not cund on
or before Ihe d~te specified in the nofice. I.ender at I.ender'.s option ma~ declarc all af the sums secured b~ this ~tortRage to be
immediately due and payaMe Nithoul furthe~ demand and m~~ forecloce thic ~1ortRaRe by judicial proceedin~. I.endtr shall
be entitled to collecl in such proceedinR all expensec of foreclocurc, includinR, bul not limiled to. rcawnable atlorney's fees.
and costs of documentary• e~idence. ~bstracls and Iitk reportc.
19. Borrow~er s Ri~ht fo Rtinslate. `~Nw ith~tand~n~ I rn~kr'. .icrrlcr.~han ~~f the ~um~ .ccurcJ h~~ thic ;Nottgagc.
Horrowcr shall havc Ihc right tu h~~c .~m pro:rrdin~. hr~_un h~ I~ndcr a~ rn(urcc thi. ~t~~ngagc discontinucJ at any timc
BOOK345 P~~E `T70
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