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l.ender's writtco agrcrmcnt or applirable law. Borrowe~ shall pay the amuunl ot all martgage incurance premiums in the
manncr pn~vidrd unde~ pa~ag~aph 2 hercot.
Any am~~un~~ di~hurs~d by I.cnJcr purwaM w this pa~agraph 7, with inlcrect thueon, shal) ome additional
inJ~Medncsc o( Ho~ruwrr ~,currd by ih~~ Mor~gage. lJnlc.c Borrowcr and I.rnJer agrcc to _o~li,terms~ paymcnt, such
amountc shall hc pa~~ablc u~x~n natire fmm 1 cnder to 6orrowrr rey~~ting payment Ihc~eo(, and shall hca~ intercst from the
dale of di~burxement at ~he ratc payablc (mm limc ta ~ime nn outslanding principal under the Note unlest payment of
interest at such rate would !+e contrarv lo appl;rable law, in which event ~uch amounts chall hear interect at Ihe highest nte
permiuibk unde~ applicable law. Ni~lhing a,ntained in thic pa~agraph 7 chall requiro I.ende~ !o incur a~y expenss or take
any actio~ hercu~der.
S. Isspectbn, l.ender niay make or ra~~cc to he mad~ reasonabk e~lriec l~pon and inspeclions of the Property. provided
that l.e~der shall give Bor~ower not~ce pri~~~ lo any such inspeclion specifyrina teasonabk cause therefor rclated to Lende~'s
interest in the Propeny.
9. Coademnatbn, TF~e prc~ce~dc ot any award o~ claim for damaga, direct or rnnsequential, in co~nection with any
condemnalion or other taking of the Propeny, or pah thercof, or for conveyance in lieu of condemnation. arc hereby assiaood
and shall be paid to Lende~. ~
in the event of a total taking of the Propeny, the prococds ~hall be applied to the sums secured by lfiis Mo~ase,
with the excess, if any, paid to Borrower. ln the event of a partial taki~g ot the Property, unless Borrower and I~ender
aherwise agrce in writing. therc shall be applied to ~he sums securcd by this Mongage such proportion of the proceeds
as is equal to that proportion Nhich the amounl o( ~he sumc secured by this Morigage immediately priar to the date of
taking bears to the fair market value of the Propeny immediately prior to the date ot taking, with the balance of the proceeds
paid to Borrower.
If the Property is ahandoneJ by Borrowcr, or if. atte~ notice by l.ender to Bormwer that the condemnor ofkrs to make
an award or utlle a claim for damaee~, A~•rrc-we~ tail. to re~pond to t_eoder within 30 days after the da~e such notice is
mailed. I.ender i~ authorized to collect and appl}• ~he proceeds, at l.ender's optian, either to ratontion or rcpair of the
Pruperty or t~ the sum~ ~ccured b~• this 1~1ort~tajte.
L!nlesc !_ender and Borrow•er otherwi~e agree in w ritlnc. any such applica~ion ot proceeds to principal shall not eatend
or pcxtpone the due date ot Ihe monthly ins~allmenls rcferred to in paraRraphs 1 and 2 hercof or change the amount of
such inslallm~;nts.
10. Borrower Not Relcased. Fxtension of the time for payment or mcxfification of amortiution of the sums socurcd
by this Mortgage gnnted by I.ender to any cuccetsor in interett of Borrower chall not operate to ret;.ase. in any manne~.
the liability of Ihe original Borrower and Borrower e saccessorc in intercst. I.ender shall not be rcquircd to commence
proceedings against such successor or rchue to ectend time for payme~t or othe-v-iu modify amortization of ~he sums
ucured by Ihic Mortgage hy reason of any demand made b~~ the orieinal Borrower and BoROwer s successors in inlerett.
11. Forbeannce by I.ender NM s Wdrer. Any forhearance by l.ender in e~ercising any right or remedy heteunder, or
othenvise aBorded hy applicable law, shall neN be a waiver of ar preclude the exercix of any such right or remedy.
The procurement of insurance or the paymeot of taxes or other liens or charges by [_ender shall not he a waiver of Lender's
right to accele~ate the maturity of th~ indebtedness cecurcd hy this Mortgage.
12. Re~nedies Cnmulathe. All rcmedies provided in this Mortgage are distinct and cumulativ~ to any other right or
rcmedy unde~ ~his Mortgage or afforded hy law o~ equity. and may be exercixd concurrcnNy. independently or soccessively_
' 13. Soceessors and Assi~us Eound; Jofnt aad Sereral ILbility: Captbns. The covenants and agreements hercin
comained shall bind, and the riRhts hercunder shall inure to. the rcspective successors and assigns of Lender and Bonower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jairy and several_
The captions and headings of the paraRraphc of Ihis Mortgage are for convenience only aRd are not to be used to
interprct or define the provisions herec~f.
14. Notice. Except for any notice required under applicable law to be given in another manner. (a) aoy notice to
Borrower provided for in this Morl~ta¢e chall be giveo hy mailing such notice by certilicd mail addresud to Bc~rrower at
the Properiy Address or at such othcr addresc as Bor~ower may designate by notice to T.ender as provided herein, and
(b) any notice 1o Lender shall I+e given by certified mail. retum receipt requested. to [.enders address s~ated hercin or to
such olher addrcss as Lender may decignate by nc.tice to Bor~ower as provided hercin. Any notice pmvided for in this
Mortgage shall be deemed to ha~~c I+ten g~vcn to Borrowe~ or I.ender when grven in the manner designated he~ein.
15. Uaitonn MortRa~e; Covernin~ law: Se~erabilit~•. This torm of mongage combines uniform covenants for national
use and non-uniform covenants with IimiteJ va~iationc bc juricdiction to constituie a uniform security inst~ument coverina
rcal property. This M~rtgage shall be governed h~• the law of the jurisdiction in which the Property is located. In the
event that any provision or cluise of thic Mortgaqe or ~he Note conflicts with applicable law, such conflict shall not affeet
other provisions of this Mortgage or the N~te wh~ch can be given effect wi~hout the conflicting provicion, and to this
end the provisions of ~he Mor~gage and the Note arc Jeclared to tx xverable.
16. dorrowePs Copy. Borrower shall be furni~hed a conformed capy of the Note and of this Mortgage at the time
of exec~ition or after recordation hereof_
17. Trsasfer of the Propertv: Assumplion. If all or any part ot the Praperty or an intercst therein is sold or tnnsfened
by Borrower without Lender's prior wrinrn cunsen~_ ercluding (al the crcation ot a lien or encumbnnce subordinate to
this Mortgage. (b1 the creat~on of ~ purch~~r m~~ne~• ~ecurity m~erest for household appliances. IN a ~ransfer hy devise,
descent or by operation of law upon ~he Jca~h o( a j~•~n~ tenant or (d- ~he grant ot any leasehold interest of thrcc ycars or kss
no~ containing an option to purchase. Lender may~. at l.ender ~ opt~on, declare alf ~he sums xcured by this Mottgage to be
immediately due and payable. Lender chall h~ve w.~~ved such option to accrlerate if, prior to the cale or transfer. Lender
and tht person to whom ~he Propeny ic a. be .o1J or trans(erred rcach agrecment in writing that the credit of cuch penon
is satisfactory to l.ender and ~hat the interr.t pa?~able on the sums secured by this Mortgage shall be at such rate ac Lender
shall rcquest. If Lender has waived the option to accelerate provided in this pa~agraph 17, and if Bortower i~uccessor in
interut has exuuted a wntten assumpnon agreement accepted in wri~ing by Lender. Lender shall release Borrower frc+m all
obligations under this Mortgage and thc Note.
if Lender exercises such option tn acrelerate. Lende~ ~hall mail Borrower notice of acceleration in accordancr w ith
paragraph 14 hereof. Such notice shall provide a period o( not less than 30 days from the date the notice is m~iled within
which Borrower may pay the sumc declared due. !( Borrower fails to pay such soms prior to the expintion of cuch peru~d.
Lender may, without further aot~ce or dcmand on iiorrower. invoke any remedia permit~ed by paragraph IR hercof.
NON-UNIFORM COVENANTS Borrower and l.ender turther covenant and asree u follows:
18. Accek~ioa; Remedks. E:cep/ as Provlded in para~npM 17 hereot. rpo~ ~rnwers b+cacM of say coveaawt or
a~recme~t ot Sorro~-er In t6is Mort~s~e. includin~ Ibe covenanls to psy whew due ~uy soms secured bJ~ 16fs MorlRa~e. I.tndcr
prbr to sccekrstba shall mail notice to Eorrowcr as prorWed ia Pars<<aph 1~ hereo( specffyln~: (1) the bre~ch:121 ~he aetbw
reqnired to c~re socb breach;l3) s date. oot kss than 30 days from tAe dale the notice b a~sfkd to donor-cr. by ..Akh suc~
b~each mmt be c~red: sed (~) ~hst tailure lo c~re srch breacl~ o~ or betore Ibc dsle spcci6ed in the wolke inar resdt i~
•ecekrstion of tbe soms second by IAis MortRaRe. to~ecbs~r~ ~ jadlcial ~oeeediu~ ~nd sde of tbe Prop~rry. The notke
shaU further inform eorror.er ot the riRM to rci~state N~er sccekration aed tl~e ~bl Io ~scrt i~ tAe toreclosrre ~oceedi~
t4e tan-e:istence of a defauN or any ofher defena o1 Eonower fo accekrstiow ~sd toreclosrre. N the etesc~ is not cote~ o~
or betore the dafe specificd in the notice. I.ender at I.ende~'s optbw ~ declare a~ ot the s~ms stcsred br tAb MortRaRe M be
im~etdiattly dut sad psyabk without inrthtr dem~nd and may forecbse Mis Mo~a~t br jodkW prettedfuR. I.enJer sAaq
be tetitled to collecf iA wcA procecdir~ sll espenses nt foreclosdre. Includin~. b~rt ~of Brnited to. re~sossele slt~~rnrv's fees.
aud eosts ot docnn~ewtary e~ideace. sbst~scts ~nd li~k reports.
19. Dortowtr's RIRht lo Reinstste. Nolwilh~tanding 1 ender's acceleration o/ Ihe sumi secured by ~h~c Mort6aEe.
Borrower shall havt Ihe nght to have an~ prcxerd~n~c br~,m by Lender tc- enforce Iha Mortgaqe d~scont~nued a~ any t~me
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$~~3~5 p«~f~370
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