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l.ender's writ~en agreement o~ applirable law. Burrower shall pay the amuunt of all mortgage insurance premiums in the
ma~ne~ pruvided undtr pa~agraph 2 h~reof.
Any amounls disburud by !_endc~ pu~c~~ant ta this paragraph 7, with intercst therton, shal) become additional
indrhtedness uf Borrowe~ securcd by thit Atortgage. Unle~s Borrower and I.ende~ agrce ta other tern-s of payment, such
amou~K chali he pa~~aMe u~+c~n n~~tice from I.ende- to Bormwer requecling payment thereof. a~d shall bear intercst from the
datc af dit6urcement at tht rate payafile from timc to timc on ot~tstanding principal under the Note unleu payment of
intere~t at such rate w~ould be contrar~ to applicable law, i~ which event u~ch amounts sfiall bea~ interest at the highest rate
permiscible under applicable law. Nothing contained in thic paragraph 7 shall requirc I.ender to incu~ any ex¢etue o~ talce
any action hereu~der.
8. Inspection. l.ender may makc or cause to he made rca~on~ble emries u~n and inspeclions of the Propeny, provided
~h~t LenJer shall give Borrow~er notire prior to any such incpection cpeci(yi~g rcasonable cause therefor related to Lender's
intcrcu i~ thc Pmperty.
9. Condemnaii~un. Tfie pr.keed~ of an}• aNa~d or claim for damaees, direci or concequential, in connectio~ with any
~andemnation or other taking of the Property, ~.r part thereof. or for conveyance in lieu of co~demnation, are hereby auigned
anJ chall t+c paid to I.cndcr.
1n ~he event nf a ~o~al Iaking of the ProE-erty, the proceeds chall he applied to the sums secured by thic Mottgage.
v-ith thc r~rccs, it :~ny. paid to Bo-rowcr. In ~hc cvcnt nt ~ partial taking of the Pmperly, unless Borrower and Lender
o~herwic~ agree in writin~. there shall be applied to the cums secured by thi~ Mortgagt ~ucfi proportion of the proceeds
as ic equal to that propoNion which the amount ot Ihe sume ,ecured by this A1oNga¢e immediately Qriar to the date of
taking bears to the fair market value of the Property immediately prior ta the Jate of taking, with the balance of the proceeds
paid t~ Borrowe~. •
if the Proper~y ic abandoned M• Borrow•er, or if. aRe~ noticc bY l.ende~ to Bormwer that the eondtmnor olfers to make
an award ~~r ~ettle a claim for dan~age~. Borrower faih ~o res~nd to I.ender within 3Q days after the da~e such notice is
mai{ed. l.rnder ic authori7ed to collect and apply the proceeds, at I.ender's aption. either ta restoration or repair of the
Pr~~xrty or to Ihe sumc ~ccured hy this Mortgagc.
Unlesc 1 ender and Borrower athen+vice agree in a~~itin~. any such applicatio~ of proceeds to principa) shatl not extend
or ~x~ct~~ne ~hc due date of Ihc mon~hl~~ installmcnts referred to in paragraphs •1 and 2 hercof or change the amount of
~uch inttallmentc.
10. Borrower Not Releaud. F.rtensiort of the time for payment ~r modification of amortization of the sums securcd
hp thic Mortgage granted by I.enJer to any ~uccestor in intrrest of Borrowe~ shall no1 operate tc- rclease, in any manner.
the tiabdil)~ ~~i the original Borrower and B~~rmwer'c successe~rc in interest. I.ender shall not he rcquired to commenet
pn.i:ee.lir.~~ again~t cueh succecsnr or refuce to extend time ior payment or othetwice moelify amortization of the sums
ccrureJ b}• ~hie Mortgagc h~• reau,n of ~ny demand made by thc ori¢inal Borrawer and Borrower's successors in interest.
11. Forbea~ance by I.ender Wof a Walve~. An~• t~rhearance by i.ender in etercising any right or remedy hereunde~, or
rtherW i~c aiTordeci by applicahlc law. shall not he a waiver of or preclude the exercise of any wch right or remedy.
Thr prcxurement of i~surance or the payment nf tarrs or rnher liens or chargec by i.ender shall not be a waiver af Lender's
righ~ ~~~ accrle,-ate Ihe malurit}• of Ihe indehtednecs K~ured h)• thic Mortgage.
12. Remedies Cumulatire. Alt remediec pm~•ided in lhic Mortgage are distinct and cumulative to any o~hrr right ar
remctl}• under Ih~s Mor~gage or afforded by~ law or equiiy. and m-ry he exerciceJ concurrently. independemly c~r successively.
13. Succecsors and Assigns Bound; Ioint and Se~rra{ [.iabiliry•; Captions. The covenants and agreements herein
containe.f chall bir.d. and the riRhts herr:under shall inure ta the re~pective succe~sors a~d ascigns of [.ender and Borrower.
~ubject ~o ihe provicion~ ef paragraph 17 hereof. All covenaNs anJ agreementc of Borrower ~hall be joint and several.
~-e captiont :-nd heading~ of the paraeraph. of ~hic Mortgage are for convenience only and are not to be used to
interpret or define the provicionc hereof_
14. '\otice. E+ccept for any notice reyuirrd under applicable law• to be given in another ma~ner. (al any notice to
Rorr~~w~er pmvided for in thic Mortgaee sfiall he given hy mailing cuch notice by certified mail addressed to Borrower at
thc Pmpcrt~• Addretc i~r at ~~~ch othcr addrec. as B~~rmucr ma}- dc~ignatc b~ notice to I.ender as provided herein. and
1hl am• nolice to t_ender shall he given by cerlified mail. return receipt reque~ted. to 1 endet'c address stated fierein or to
~uch ~~ther addrest as Lender may designate b~• notice a. Borrow•er as provideJ herein. Any notice provided for in this
~{.•rtgagc ~hal{ hc deemed to ha~c Men given ~o Rorr~~wcr or I.ender uhen given in Ihe manner designated herein.
15. ['niform Atort~a~;e; Corernin~ Iav-; Se~erabifit~•. Thi. form of mongage combines umform covenants for national
iice and n~~n-unifurm covenanlti H ith limited variati~~m M• juri~diction to constit~~te a uniform securiry instrument covering
reai pmperty. Thi~ :~iortgage ~hall be governed h~• thr lau of the juricdicli~n in which the Property' is located. In the
e~ent ~ha~ aoy provisi~•n or clauu of thi~ Mortgage rr ~he t~i~te rnnflict~ wilh applicable law, such conflict shal) not affect
~~ther pr~ni~ionti of this htortgage or the N~tr u+h~ch ca~~ F+e gi~~n efiect with~ut the conflicling provision, and to this
end ~he pro~~i,i~,nc of thc 1ltortgage and the \ote are ~kclared to t-e Severable.
16. BorroNer's Copy. Borrower shall be furn~+heJ a a.nformed copy of the Note and of thic Mortgage at the time
uf execution ar atter recocdation hereof.
1~. Transfer of the Propert~; Acsumplion. If all or a~~c part of ~he Propertt or an interest therein ic sotd or transferred
by Borr~~wcr without I.ender's prior written concent. e~cluding (al the creation of a lien or encumbrance subo~dinate to
th~ti Mongage. Ib) the creation of a purchase mone~• ~ecuril~• interest f~r household appliances, (c1 a transfer by deviu.
drtcent or by operation ot lau upon the death c•f a jamt ~enant or fd- the g~ant of an}• leasehold interest of three years or less
not containing an option to purchase. I.ender ma}~. at Lender'< <~pt~on. declare al! the tums secored by this Mortgage to bt
~mmeJiatclt• due and pa~~able. I.ender shall ha~e v-ai~~ed tiuch ~sption tc accelerate if, prior to the cale or transfer, Lender
and the person ~o wh~~m the Property ic ~o be sold or transferrcd reach agreement in writing that the credit of such pe_rson
ic satisfact~~r} to LenJer and that the interes~ pa~able on the sumt ~ecured by thic Mortgage shall be at such rate as Lender
tih~ll reyuest. If I.ender has vrai~~ed the option to acce~erate provided in this paragraph 17, and if Borrower's successor in
~nterest ha~ executed a written assumptian agreement accepred in a•riung by I.emier. Lender shal) rdease Borrower from all
u6ligations under this Mortgage and the Note.
Jf I.ender exercisec such option to accele~ate. l.ender ~halt mail Borrower notice of acce{eration in accordance with
paragraph 14 hereof. Such notice chall pruvide a period of not lest ~han 30 days from the date the ~otice is mailed within
wfiich Borrower may pa~• the cums declared due. It Borro~er fails to pay such sums prior to the expiration of such period.
I.enJer may~, without furthcr notice ~~r demand on Horrower. in~~oke any remedies permitted by paragraph 18 hereof.
NON-1)NIFORM COVEN~~FTS Borrower and t.ender further covenant and agree as follows:
18. Acceleralion; Remedies. Except as pro~ided in pa~~aph 17 hereof. upon Borrowers bresch of any coveaant or
agreemeot of BonoNer +n this ~tortRa~e, inc{udinR the co~tnants to pay when due aay sums secnred by thts Mort6age, Leader
prior lo acceleralion shail m~il notice to Borrower as pro~•ided in paragraph 14 hereoE specifying: (1) tbt bresch: (2) ibs action
required fo cure such breach; (3) ~ date, not less Ihan 30 dars from the date the nofice is maikd to Borro~+er~ by w~hk6 wc6
breach musl be cured; and 14) that failure to cure such breach on or betorr ihe date speci6ed ia the aotice may nsdf io
acceler~tion of the sums secu~ed by this Mortgage. foreclosure by judicisl ptocetdin= snd ssle ot the Prope~. 'Il~e notke
sh~ll further inform Borrow~er of Ihe righl to reinstate after sccelention and the right to a~eA ia the foreclosnre proceedi~
the non-ezistence of a detault or anv other defense of BoROwer to acctlerstion and fortcbsurr. If the breach js oof cnred on
or before tbe date specified in the notice. Lender at Lender's optlon may declare ap of the sams secured by thB Mortsa~e to be
immediately due and psyable without [u~ther demand and may forcclose tfik Mortgage by judiciai proceediu~. Lender s6aY
be entitled to collcct in such proceeding all expeases of foreclosurr. includin`. but aot Ilenited to, reasonsbk MtoroeYs tees,
and costs of documentary evidence. abstncts and title reporis.
19. Borrower's RiRht to Rei~tate. Notwithstanding Lenckr s acceleration of the sums secured by this Mortgage.
Borrower shall have the right ~o have any proccedings hegun by l.ender to enforce this Mortgage•discontinued at any time
Addead~~ to Paragraph 15. The state and Iceal laws appUcable to thts mortgage shall be the laws ef the jnrisdiction in
which the property is located. The toreqoing senlence shall not limit the applicability of (ederal law to this mortqage.
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