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I.ender's wnttcn agrcemcn~ or appl~rable low. Borrower ahall pay the amount ot all mortgage insurance prcmiums in the
mannr~ pr~~vidrd undcr paragraph 2 hercof.
Any am~~untx dich~ircrd by Lrnder purwant lu ~his paragraCh 7, with inlcrect thereoo, shall become additiana)
indeMednecc i~f BorraNCr cecund by ~h~c Mungage. Unle~~ Borrower anJ LrnJer agrce tc~ Mher tertns of payment, such
amountc ~hall he payable u~n n~aire fmm I.ender to Borrower rcquecting paymenl thereot, and ihall bea~ intercst from the
date oi dicbursemenl ~at the ralc payahlc fmm timc !o time on outstanding principal u~dcr the Note unlecc payment of
interect at such rate wauld I+e contrarv ~o applicable law, in which event aich amounts ~hall hear interest at the hiahest rate
permissible unde~ applicable law. Nothing con~ained in this parag~aph 7 chall requirc l.ender to ir~cur any expense or take
any action hereunder.
a• IospecNon. I.enJer may make ar rau.c t~ t+c made reacc~nabk cnl~ies upoo and i~spections of the Property. provided
that I.ender shall give Bo~rower notice pri~~r tu any such inspectian specitying reasonabk caux therefor rdated to Lender's
iMerest in Ihe Prapeny.
9. Coudemaatbn. The proceedt of any award or claim for damag~s, direcl or consequential, in connection with any
condemnation or aher taki~g of the P~operty, o~ P,n aK~r, or for conveyance in lieu of condemnation. are hereby assignod
and shall be paid to i.ender.
in Ihe event of a total taking of the Propehy, the proceeds thall be applied to ~he sums secured by this Mort~age,
with the excess, if any, paid to Bonovircr_ In the event of a partial taking of the Property, unless Borrower and i.e~der
othenvise agroe in writing, there shall be applied to the sums sea~rcd by this Mortgage such propoNio~ of the proceeds
as is equa) to that proportion w•hich thc amount ot the sumc secured by this Mortgage immediately prior to tht date of
taking bears to the fair market valuc of the Propcrty immediately priar to the date of taking, with the balance of the proceeds
paid to Borrower.
it the Property is ahandoncJ by Borrawcr. or if_ after notice by I.ender to Barn+wer that the rnndemnor oRen to make
an award or uttle a claim for dam:~¢es. Borr~wer fa~l. to retpond to l.ender within 30 days after the datt such natice is
mailed. Lender ic autharized to collec~ and apply ihe proceeds, at l~nder i op~ion, either to restowtion or ~+epair of the
Prope~ty or to the sum~ ~ccured by this Morlgajre.
Unlcsc l.ender and BorrowY~ othenviec agrce in w•riting. any such application of proceeds to principal shall not extend
or post~ne the due date of the monthly installmcros rcterred to in paragraphc 1 and 2 hereof or change tbe amount ot
such installments.
10. eorrower Not Rek~sed. Extension of the lime for payment or mc~dification of amortization ot the sums securcd
by this Mongage granted by l.ender Io any cucceuor in interect of Borrower shali not opente to rckase. in any mann~r.
the liability of the original Borrower and Borrower'c surcessorc in interest. I_ender shall not be rcquired to commence
proceedings against such successor or rctux to ex~enJ time for payment or otherwice modify amortizahon of the ~ums
ucured by this Mortgage by rcason of any demand made by the oriqinal Borcower and Bo~rower s successon in intercct.
11. Forbeannce by i.ender Nof a Waiver. Any f~rhearance by [.ender in exercising any right or remedy heramd~r, or
othenvise afiorded by applicable law, shall not be a waiver ot or preclude the exercise of any such right or remedy.
The procurement of insurance Qr the payment of ta?ces or other liens or charges by [.ender shall not be a waiver of Lender's
right to accelerate the maturity of the ind~btedn~ss cecured hy thic Mortgage_
12. Remedies CnmulaN~e. All rcmedies provided in this Mortgage are distinct and cumulative to any other right or
rcmeJy unde~ this Mortgage o~ aliorded hy law or equity. and may be exercised concurrcntly. independently or successively.
~ 13. Srecessors and Assi~es Eound; .Joiet aad Sevcral i.iabilify; Csptbns. The cove~ants and agreements herein
contained shall bind, and the riRhts hercunder shall inure to. Ihe respective succ~ssora and assigns of Lender acid Borrower.
subject to the provisionc of paragraph 17 hereof. All covenanls and ag~eements of Borrower shall b~ joiry and sevenl_
The captions and headings of the paragraph~ of this Morigage are for convenienee only and arc not to be uced to
interprct or define the p~ovisions-herec~t.
14. Notke. Except for any no~ice rcq~~ired under applicable law to be given in another manner. (a) any notict to
Borrower provided for in this Mortga¢e shall be given by mailing such notice by cer~ified mail addressed to Borrower at
the Property Addrcss or at such aher addresc as Bo~r~wer mav decignate by no~ice to T_ender as provided herei~, and
(h) any notice to Lender shall tx given by certified mail. return receipt rcquested. to I enders address suted hercin or to
such o~her addrcss as Lender may deaiqnate by n~tice to Borrow•er as provided herein. Any notice provided for in this
Mortgage shall be deemed to havc l+een grven to Bormwer or Lender w•hen grven in !he manner designated herein.
1S. Ueitorm MoARa~e; Governin~ Iaw; Severabilil~•. This torm of mortgage combines uniform covenants for national
use and non-uniform covenan~c with IimiteJ variations hy juriu9iction to constitute a unifotm security instrument covering
rca) property. This Mortgage shall be governed hy the law of the jurisdiction in which the Property is located. in the
event that any provision or clauu of thic Mortgage ~r the Note conflicts with applicable law, such conflict shall oot aBoct
o~her provisions of Ihis Mortgage or the N~te wh~ch can be given efiect without the conflicling provicion, and to this
end the provisions of the Mortgage and the Note arc Jeclared to he severable.
16. dormwer's Copy. Borrower shall be forni~hed a conformed copy of the Note and ot this Mortga6e at the time
of execution or after recordation hereof.
17. TraASfer of tbe Propertv: Ascumplion. If all or any part of the Property or an intercst therein is sold or tnnsftrred
by Borrower without Lender's prior wnn.n ~onten~. ercluding tal the crcation of a lien or encumbrance subordinate to
this Mortgage. (bl the creation of a purch:,<< m~•nevi cecurity mterest for household applianc~s, (c) a trancter hy devise.
descent or by operation of law upon the Jca~h ~( a jo~m tenant or (d~ the gnnt of any leaxhold intercst of thrcc ycars or ku
not containing an option to purchase, l_ender m~y, a~ I.ender'c opt~on. declrre all the sums secured by Ihis Mortgage to be
immediately due and payable. [.ender chall h~ve N.~~ved such option to ac~rlerate if, prior to the cale or transfet. Lender
and the person to whom the Property i. i~. tx .o1J or translerrcd rcach agrcrmen~ in writing that thc credi~ of euch pcrcon
is satisfactory to [_enJer and ~ha~ thr in~cr..i pa~•able on ~he sums secured by this Mortgage shall be at such ra~e ac Lendtr
shall rcquest. If I_ender has waived the opi~on to accelerate provided in this paragraph 17, and if Borrower i auccessor in
interest has oxecuted a writlen assump~ion agrcement accep~ed in writing by Lender, Lender shall release Borrower from all
obligations under this Mor~gage and thc Note.
If Lender exercises such opt~on ~o accelerate. I_enJer chall mail Borrower notice of acctleralion in accordancr u~~h
paragraph 14 hereof. Such notice ~hall prov~de a period of not tas lhan 30 days from the date the notice is mailed within
which Borrower may pay 1he sums dtrlareJ due. 1( Borrower fails ~o pay such sums prior to Ihe expintion of wch period.
Lender may, without further notice or dcmand on liorrow•e~, invoke any remedia permit~ed by paragraph IR hercof.
NON-UNIFORM COVENANTS Borrower and lender turther covenant and aaree as [ollows:
18. Accekrstion; Rcmedia. E:cep as provided io ps~rapA 17 bereol. npoo Eomuwers Meacl~ of awy co~ensM or
a~reemeet of Eorroaer in this Mort~a~e. includi~ the co~en~nts to psy whe~ due sny sn~ns secund br thB MortRs~e. I.ender
prior lo sccekratba shdl mail notice lo dorro~+er as provided in psnirsph 14 bereot specltyiu~: (1) the bre~ch; I21 ~Ae setfo~
required to tore soch brcach; (3) a date, not ks tban 30 days from the dste the aotke b maikd to eorrowtr, br Mhkh srcl~
b~each must be cored; aad (4) lhst (ailure to crn sach brescA ow or before the dMe spec~ied is the notke may resWl i~
•ccekration of ~6e s~ms securcd Sy ~h~s MortRaRe. /oaclown by judkial ~ocetdM~ and sak of tAe Properry. The notke
shall turther inform Eorrower of tbe riRM to rci~tNe dter sccekntbn snd tbe ~hl to ~ert fe the toreclosrre NoeeedMK
the aon-existence of a default or sny olher detense ot eorro~-er to ~ecekntioa aad foreclosore. H Me SrcacA is not cortd ow
or before the date spccified io the notice, l.cnder ~~ I.rnde~'s aptiow m~ declare sR ot tbe stims stde+ca br tAls Mort~aRe to be
immediately due snd paysble ..ithou/ turther demand and nay foreclose tbk Morlsa~t by judkW ~roceediaR. I.en~cr chdt
be. eatitled lo collect ia wcl~ procecdinR sll e:penses of foreclosurr. InetndiuR. brt sot Ymited to. reasonsele au~~rnev's fees.
and cosRs ot doc~iee~tary e~idence. sbstracLs ~nd Iitk repoAs.
19. Dorrnwer's Rl~ht to Reinstste. No~with~t~~d~ng 1 ender's accelent~on of the sums secured by th~s Mon6age.
Borrower shall havt Iht right to havt am prcxerdme• hr f~in by Ltnder to enforct thtt Mor~gage dnconlinutJ a~ an~ hme
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