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l.ender's writ~en agrcement o~ applicable law. Borrower shall pay ~he amount ot all martgage i~surance prcmiums in the
mannr~ pruv~drd under paragraph 2 hereo[.
Any amount~ di~hu~sed by I.cnJcr purwanl to this paragraph 7, w~lh intere~t thereon, shall become additio~a)
in~lehiednecc ut Ho~roNCr ucurcd by ihi~ Mo~ig~ge. Unle+c Hllf(l1NCf anJ I.enJcr agroe to o(h~~ tem-s ot payment, such
amounlc shall he payahlc u~xm nu~ic~ fr~m I.rnder to Ba~rawrr rcque~~ing payment thereaf. and 4hall bear iMerest trom the
date of dicbursement a~ ~he ~atc payahle tmm timc ta time ~u~ oulslanding principal under the Note unless payment of
interest at such rate wauld be contrarv ~o applicable law, in which event a~ch amouots chall hear inlerest at the highest rate
permissibk under applicable law. N~~Ihing comaineJ in Ihic paragraph 7 shall ~equirc l.ender lo incur any espense or talce
any actio~ hereunder.
S. laspectioa. I_enckr may make or cau,e t~ t+e made reacanable en~riec upon and inspections of the Property. provided
that l.ender shall give Bcir~ower ni~~icr pri~~r t~~ aoy ~uch inspection specifying rcasonabk eause therefot rclated to I.ender's
in~erest in the Prapeny_
9. Coedcn~natbn. The prc~ceedc of any award or claim tor damages. dircet or rnnsequential. in conr~ection with any
condemnation.or other taking of the Property, ar part thercof, or for conveyance in lieu of cw~demnstioo. arc herebp assianod
and shall be paid to L.ender.
in the event of a total taking of Ihe Prope~~y. the procoeds il-all be applied to the sums secured by this Mortaaae,
with the eacess, if any, paid to Borrower. In the event af a partial takiog of the Property, unless Bomnwer and Leoder
aherwise agree in writing. therc shall be applied to ~he sums securcd by this Mongage such proportion of the prooeeds
as is equa) to that proportion w~hich thc amount ~( the sumc secored by this Martgage immediately prior to the date of
taking txan to the fair market value of ~he Propcr~v imm~diatcly prior to the date af taking, with the balance of the pr~oceeds
paid ta Borrower.
if Ihe Property is abandoned by Barr~wcr, or if. after notice by I.ender to Bormwer that the condemnor oRers to m:tke
an award ar uttle a claim for dam~gc~. B~~rrower f~il. t~ respnnd to I.ender within 30 days after the date such notice is
mailed. Lend~~ ia authoriied ta c~llect and apply the proceeds, at i_ender's option, either to restontion or repair of the
Property or to the cum, sccured h~• this Mortga~re. •
Unfua I.ender and Borrower othenvice agree in w•ritinF, any such applicalion of proceeds ta principa) shaU not extend
ar pcxtpone the due date ot the monthly inslallments referred ta io paragraphs 1 and 2 hereof or change the amount of
such installments.
~ 10. Borrowe~ Not Relcased. Extension of the time for payment or modiRcation of amortization of ihe sums secured
by this Mortgage g~anted by I.ender to any cucce,.sor in intc~nt of Borrowe~ cfiall not opente to rclease. in any manner.
Ihe liability of the original Borrower and Bo~rower'c successorc in intercst_ i.ender shall not be rcquircd to commence
proceedinRs against such successor or rcfuse to ertend lime for payment or olhenvice modify amortization of ~hr sums
ucured by Ihis Mortgage by rcason of ~ny demand made by the oriqinal Borrower and Borrower s u~ccesson in interect.
11. Forbeannce by I.ender Not a Wai~er. Any forhearance by I.ender in exercising any right or remedy herounder, or
othervvise afiorded by applicahle law. shall n~+t lx a waiver of or prcclude the exercix of any such right or rcmody.
The procurement at insurance Qr ihe payment of laxes or other liens or charges by l.ende~ shall not br a waiver of Lende~'s
right to accelerate the maturity of the indebtedness secorcd hy thic Mortgage.
12. Remedies Cnmulsti~e. All rcmedies pravided in this Mortgage are dis~inct and cumulative to any other right or
remedy under this Mortgage or atforded by law or equity. and may be exercised concurrcntly. independently or successively.
~ 13. Srecessors and Assi~as dound; Joint and Sererd 1.iabilify; Csptions. The covenants and agreemrnts herein
contained shall bind, and the riRhts hercunder shall inurc to. the respective successors and assigns of Lender aod Borrower.
subject to the provisionc of parag~aph 17 hereof. All covenants and agrcements of Bonower shall bc joiN and sevenl.
The captions and headings of the paragraphc of this Mortgage are for convenience only and arc not ta be used to
interprct or define the provisionc hereof.
14. Notke. Except for any no~ice rcq~~ired under applicable law to be given in another manner. (a) any notice to
Borrower provided for in ~his Mortga¢e shall be given hy mailing such notice by certifled mail addressed to Borrower at
the Propeny Address or at such othcr addresc as Borrower mav deiignate by noiice to t.ender as provided herein. and
(t~l any notice to Lender shall he giveo hy certificd mail. retum receipt requested. to [.ender s address suted hercin or to
cuch other addrcss as Lender may deci¢nate by notice to Rc~rrower as provided herein_ Any notice provided for in this
Mortgage shall be deemed to have been given to &-rrov-~er or Lender when given in Ihe manner desigmted herein.
15. Unifo~m Mort~s~e; Covernin~ Iaw; Severabilitv. Thic torm of mortgage combines uoiform covenants for national
use and non-uniform covenantc with limited variations hy jurisdiction to constitute a uniform security instrument covering
rcal property. This Mortgage shall be governed hv tFie law of the jurisdiction in which the PropeAy is located. In the
event ~hat any provision or clauce of thic Mongage or ~he Note conflic~s with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Nnte which can be given effect without the conflicting provi~ion, and Io this
end the provisions of ihe Mortgage and the NcHe arc ~kclared to be xverable.
I6. Son~owe~'s.Copy. Borrower shall bc furniched a conformed copy of the Note and of this Mortgage at the time
of eaecution or af~er recordation hercof.
17. Traasfcr of tbe Propertr; Assumption. If all or any part of ~he Pmperty or an interest therein is sold or transferrtd
by Borrower without Lender's prior wnn~ n cunsent. excluding (al the creation of a lien or encumbrance subordinate to
this Mongage. (b) ~he creat~on of a purch~ce m~•nevi cecurity mterest fo~ houxhold appliances, fe) a trancter hy dtvise.
descent or by operalion of law upon the dcath of a ja~nt tenan~ or (d1 the gnnt of any leasehold intercst of ~hrcc ycan or kss
not containing an option to purchase. Lender may. a~ l.ender'c opt~o~. declare all ~he sums secured by this Mortgage to be
~mmediately due and payable. ~ender ~hall h~.•e w:,~~ed such option to accrlerate if, prior to the cak or transfer. Lender
and the person to whom the Property ic t~- be :ol.l or transferred reach agrerment in writing that the credit o! cuch perwn
is satisfactory to LenJer and tha~ the in~crr.~ p~yabte on the s~~ms secured by this Mortgage shall be at such rate ac Lender
shall rcquest. lf I_ender has waived thc op~ion to accele~~te provided in ~his paragraph 17, and if Borcower's auccessor in
interat has executed a writ~en assump~ion agrtement accepted in writing by Lender. Lender shall release Borrower from all
obligations under Ihis Mortgage and thc Note.
if Lender exercises such opt~on t~ accelerate. 1_enJer shall mail Borrower notice ot accelention in accordanc~ with
paragnph 14 hereof. Such notice chall provide a period of not less than 30 days (rom the date the notice is mailed within
which Borrower may pay the sums decl:~red due. If Borrower (ails to pay soch sums prior to the espintion of ~uch peric~d.
Leodcr may, without furiher notice o~ dcmand oo Borrower. ~nvoke any remedies permitteA by parograph IR hercof.
NON-UNIFORM COVEN~NTS Borrower and Lender further covenant and asree u follows:
18. Accekrslioa: Rcmedia. Except as prorided ia para~rapb 17 bereot. ~po~ Sorrowsr's b~eacM ot ssy co•ewaAl or
a~reemeot of Eorrower in this Mort~a~e. includinR 1he coreaanls to pay wAes due ~y soms secured 6r tbk MorlRa~e. [.ender
prbr to ~cctknHoa shdl mail notice 1o dorrowcr as psorided Iw para~rspb 11 be~eot specftriu~: (1) the brr~cA: (21 ~Ae aefbw
required fo core socb bresch;l3) s dste. not kss tbsn 30 days trom tl~e dMe the sotke M msNed to eorrower. Sy r•hkh sucU
b~esch mrst be crred: aod (4) tbst tailuro to crre srcA breacM o~ or betore the dNe specWed ie tl~e notke may resuM i~
accekratioa ot t6e wms secn~rd Ay Ihis MortRa~e. fo~ecbso~r 6r judkial Oroceedln~ ~d sde ot tbe Properry. Thc nolke
sh~il fu~ther info~ dorror.cr ot tbe ri~ht to reinstMe stter accekrdio~ swd tbe ri~At fo ayeN i~ tUe forrclosrre Moetedi~
tbt aon-e:Lstence ot s defauM or anr olher detense o( sonower fo ~ccekrNiw~ aud torecioso~r. It tbe bre~el~ is eot c~ o~
or before tht dsfe speei6ed in the nofice. Lender at I.rwder's a~liow ~ declare aN ot N~e sn~s ~nd bp tMis MoRRa~e to be
ima~cdiatdy due snd psysbk withoul further demand and rnay /otrebst thk Mortsa~e by judkW KoceediuR. I.endcr chaq
be entiNed to coUeci fe srch proceedinR all expenses nf fo~ecloxdro. Incl~din~. brt aot Ifmittd to. reasoeaele att.,rner's fees.
~ad eosts ot doc~rseatary e~idcnce. sbstrscls snd Iille nports.
19. dorrower's Ri`At to Reinstite. Nolwi~hti~rnd~ng I enJe~ s acce~erahon of thc sums secured by ih~s Mortaaac.
Borrower shall have the right to have am prorerd~ne~ hr~.un by Lender t~ en/~rct Ihn M~ngage d~sconunueJ at ~ny time
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