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I.cndrr'c wriuc~ agn:cmc~t or apphrablc lew. &~~rawer shaU pay the amount ot all moMgagc i~wrance prcmiums in the
mannrr prav~drd unde~ paragtaph 2 hereof.
Any am~~untc ditihurs~d by LrnJc~ pur~uant ~o ~his pa~ag~aph 7, wi~h ~nlcrrct thereon, chall hecume additional
in~lch~cdnc~c ~~t Hurruwir ucurcd hy ~h~~ Ni-r~gagc Uok~c Borrower anJ LrnJer aRrce ta olhc[ lermc of paymenl, cuch
am~.unh ~Aall hc pa~•ablc u~x~n no~irc fr~~m 1 rndcr to &~rruwrr rey~rc~ting paymenl thcrcuf, and shall l+ear inlerest fmm !he
da~e o( di~burumem at ~hc ratc payaMc from timc to time un oulua~ding principal under thc Note unlecc payment ot
interest at such rate would l+e contrarv ~~. applicable law, in which event ~urh amounts shall hear interecl at the highest nte
pemtissibk under applicable law. Ni~thing a-o~~ineJ in Ihic paragraph 7 chall require I.ender to ineur any eapense or take
any action hereunder.
a• lnspection. l.ender may m:~ke ar ra~~.e to he made reaconabk enlriec upon and inspections of the Property, provided
that l.ender shall g~ve Borrower no~~cr priar ti~ any ~uch mspccl~an specifying rrasonable cause there(or rclated to Lender's
interesl in the Proprrty.
9. Condemnation. 'iT,e prcxcedc of any award ar claim fo~ damages, dircct or cansequential, in conooction with any
condemnalion or other taking of the Properiy, o~ pan thereof, or for canveyance in lieu of cor~demnation. are hereby assignod
and shall be paid to I.e~der.
Tn the event of a tot~l taking of ~he Proper~y. the procecds chall be applied to the sums secured by fhis Mortgage,
with ~he eacess, if any, paid to Borrower. ln thc event of a partial taking of ~he Pro~erty, unlecs Borrower and I.eoder
atherwise agtee in writing. therc shall bt applied to the sums secured by this Mangage such proportion of the proceeds
as is equal to that praportion w•hich Ihe amount of Ihe sumc secured by this Mortga~te immedialely prior to the date of
taking bears to the fair market valuc af ~hc Pmpcrty immediately priar to the date of taking, with the balance ot the pnxeeds
paid to Borrower_
If the Property it abandoned hr B~rrower. ~r it. after notice hy I.ender ta BoR~wer that the condemnor oBea to make
an award or cettle a claim f~r J~mace.. A~~rrc.wer f~il. to re+pc.nd to I.ender within _l0 days after the date such notice is
mailed. Lender ic authoriz~-d t~ collec~ and applt• thc prc-ceedc. at l.ender's option, either to restoration or r+epair ot the
Property ar to Ihe ~um~ ~ecured hy thic Mc-rt~ta~e.
Unlesc t.ender and Borrower athervvice agree in u•rilinc. any such application of proceeds to principal shall not eztend
or potlp~~ne the due da~e o( the monthlv installmcnls rc(er~cd to in paraRraphc 1 and 2 hereof or change the amaunt of
such installmentc.
10. dorrowe~ Not Rekased. Fxlension af the lime for payment or modiRcation of amortization of the sums socurcd
by this Mon~age granted by l.ender to any cuccecsor in intcre~t of Borrower chall nM opente to reiease, in a~y manner.
the liability ot the original Borrower and Bc~rrower'c succesu~r~ in interest I.ender shall not be rcquired to commence
proceedings againct such successor or retuse to sttenJ time for payment or otherwice modify amortizat~on ot thr sums
cecurcd by thic Mortgage hy rcason of any demand made by ~he ori¢inal Iiorrower and Bo~rawer s successon in interect.
11. Forseuance by I.ender Nof s Waiver. Any forhearance by l.ender in e+cercicing any right or remedy hercunder, or
othervvix aBorded by applicahle law, shall not be a waiver ot ar preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of taYes or other liens or chargcs by I.ender shall not ~x a waiver of Lender's
right ta accelerate the maturity of the indehtednecs cecurcd hy thic Mortgage.
12. Remedies Cnmulatire. All rcmedies p~ovided in this Morigage are distinct and cumulative to any o~her tight or
rcmedy under this Mortgage or afforded by law or equity, and may be etercised c~ncurrently. independeMly or succtssivtly.
' 13. Soccesso-s and AssiRes dound; .7oin1 snd Several I.iabiliff; CspNons. The covenants and agreements hercin
contained shall hind, and the riRhts hercunder shall imirt to. the recpective succeuors and assigns of Lender a~d Borrowe~.
subject to the provisionc o( paraRraph 17 hereof. All covenants and agrecmentc of Borrower shall be joiry and several.
The captions and headingc of the para¢raphc of thic Mongagt are for conveoitnce only and are not to be oced to
interpret or define the provisians hereof.
14. NMice. Except for any noticc required unJer applicaAle lavr to be given in another manner. (a) any notice to
Borrower pr+ovided for in this Mortgaer chall be given by mailing tuch notice by certiBed mail addressed to Borrower at
the Property Address or at such o~her addresc as Borr~w~r mav designate by notice to I.ender as provided herein. and
(b) any notice to Lender shall F+e given by cer~ificd m~il. return rece~pt requected. ta [ ender s address stated herein or to
tuch othe~ addrcsi as I.ender may deci¢nate h~ nntice t~ Borrower as pro.~ided herein. Any notice provided tor in this
Mortgage shall be deemed to havc hten ~iven to &-rre.wer or t.rnder when given in the manner •detignated herein.
1S. Uniform Mort~a~e: Covernin~ Iaw; Se~erability. ~i?-i. form of mongage combina imiform covenants for national
use and non-uniform covenantc with IimiteJ vanalionc hy ~uri~J~ction to consti~iite a uniform securiry instrument ~covering
rcal property. Thic Mortgage shall be governed hv ~he law• of Ihe jurisdiclion in which the Property is located. In the
event ~hat any provision or clau~e of thic Mortgage ~r the Note conflicts with applicable law, such conflict shal) not aliect
other provisions ot this Mortgage or the Nntr which can be given et~ecl wi~hout the conflicling provicion, and to this
end tht provicions ot the Mortgage and the Votc arc ~kclared ta be uverable. •
16. Earrowers Copy. Borrower ~hall be furni~hed a conformed copy of ~he Note and of this Mort~tage at the time
of execution or afrcr recorda~ion hercof.
17. Transfer ot the Property: Accump~ion. If all or any part of the Pmperty or an interest therein ic sold or tnnsferred
by Borrower w~thout I.ender's pnor wr~n~n ~onunt. etcludi~g lal ~he creation of a lien or encumbnnce subordinate to
this Mortgagt. Ibl the creahon of a punh~.e m~~ne~• ~ecuri~y mteresl for household appliances, fe) a trancfer hy devist.
descent or by ope~ation of law upc~n the ~kath o( a jrnm tenant or (d- ~he gnnt of any leasehold interest of threc years or kss
not containing an option to purchase, Cender may~. at I.ender'~ opt~on, decl,re all Ihe sums securtd by Ihis Mortgage to bt
~mmediately due and payahle I_ender chall h~~e .-,uved surh op~ion ~o accrlerate if, prior to the cale or transfer. Cender
and the person to whom Ihe Proper~y i. t„ tx .ol.l or transkrred reach agrermtnt in writing that the credit ~f ~uch penon
is satisfactory to I_enJer and that the imerr.t pe~able on ~he sums secured by ~his Mortgage shall be at soch nte ac Lender
shall request. If I_ender has waived the opt~on Io acceltratt providtd in this paragraph 17, and if Borrower'> >uccessor in
interest hu executed a wnuen assumpuon agreement accepted in writmg by I_ender, Lender shall release Bo~rowe~ (rom all
obligations under this Mortgage and thc Note.
if Lender exercises such aption t~ acceierate. (.enJe~ chal) mail Borrower notict of aeceleralion in accordancr w~ih
paragraph 14 hereo(. Such notice chall prov,de a period of no~ less than 30 days from the date the no~ice is mailed within
which Borrower may pay the sumc declared duc. 11 Borrower (ails to pay such soms prior to the expintion of cuch peric~d.
Lender may, wi~hout fuNhe~ notice or Jcmand on liorrower. invoke any remedia permitted by paragraph I R hercof.
NON-UNIfORM COVf.NA!YTS Borrower and t_ender funher covenam aod aaree u follows:
18. Acceleralion; Remedies. E:cep~ as pmvided in p~ra~npA 17 bereol~ YpOp sOfT'O~tf f M'tKll O~ ally ~O~l11il1~ Of -
a~reemeot ot dorrower in this MortAaRe: includir~ tbe coven~nls lo pay r-hea dne ~ny wms secured by thk MortR~e. l.ender
prbr lo accekratbn sAall msil notice to dorrower as pro~Wed Iw pa~a;npb 14 Acreot specNrin=: (1) tht breach: f21 ~he setbw
rcqufrcd fo core sucb brrach;l3) s date. no1 kss than 30 days from ihe dMe the notke b inafkd to dorrowcr. by wAkh wc~
b~each mmt be cand; sad (4) Ihat failure to core stch bn~cl~ on or before Ibe dMt specified in Ihe nMke n~ay rrsult 1~
sccekration ot tbe snms secured by this MortRaRc. forecfosurr ~ judkial proceedi~ aad sde o1 Ibe Prope~. The notke
shall turther inform dorro..er of /he ri~bt to rei~l~te a/Icr ~ccele~stio~ awd Il~e ri`ht to as~ert ia the /oreclos~re ~roctedi~
tbe non-exisfeoct of a defauk or any olher defense ot eorroaer to aecekntbn aud foreefoshre. 1/ the bn~cA is not cwtid o~
or beton the-date specified ia the notice, l.ender at I.ender's optlo~ wsy declart aq ot the snws see~red by thk MortRaRe b be
immedistely due and Psysble witlaut further dem:,nd and nay forecbse tbb Mort~a~e ~ jrdicW proceedinR. I.ender cha11
be eofitled to coqeel M wch procetdin~ sll e:penses nf fortclosot+e. fnclodin~. MN nof Un~ited to. reasoniele ata.rne.'s fees,
•f1A C06IS OE ~YI~ItAt1f~ lY~dlllCt. sbstrstls ind Iitk rcports.
f9. donowers Ri~hl to Reiastste. 'Volwilhtitand~n~t 1 ender's acceleraaon of the sumc ucured by th~c Mongage.
Borrower shall have Iht nghl to have any prexe~d~ne< txFun b~ lendtr lo en(prce Ih~~ M~rtgaqe dncontinueJ ai an) Umt
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