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I.cndcr'c wri~tcn agrccmcnt o~ applicablc lew. t3orrowtr shall pay thr ~am~~unl of all mortgagc inwrance premiums in the
mannrr prc~v~dcd under paiag~aph 2 hereof.
Any am~~unl~ di~huncd hy 1 cn~lc~ pur~uant tu Ihis par.~graph 7. w~lh u~tcrcct Iherton. ~halF Mecome additiona)
~nitrMrdnr+~ ~~f liurn~wrr ~ccurcd by ih~. Mur~gagc Unle.ti BormKCr a~J 1 rnJe~ agree to Mhcr termc ot payment, tuc!i
ami~unh ~hall hr payablc u~xin nutirr fmm ( rndcr lu &-r~owrr rey~~ccting p~ymcnt ~herc~(, anJ chall hcar intcrcst /rom the
da~e af dicburk:meot at ~he ~ate payahle fmm time t~ ~ime ~~~ outttanding prineipal under the Nole unlecc payment af
i~terest at such ~ale wauld he contrarv ~a applirable I•rw, in which event a~ch amounts ~hall hear inlercct at Ihe highest rate
pe~missihk uoder applicable law N~.thing r~-ntained m thic paragraph 7 chall requirc I.ender to incur any eapenu or take
any action hcreu~der.
S• ~aspectioa. I.enJer may makr ~•r rai~u to Fx made rea~onabk entriec upon and inspections of the P~operty. provided
that 1 e~der xhall give Borr~wer nul~~•r priu~ ~i~ any ~uch mcpection specifying rcuonabk cause thetefor related to Lender's
interes! in th~ Propcrty.
9. Coademnafbn. The pnxeedc o( any awa~d or claim for damaga, diroet ~ conseque~tial, in connectan with aey
condemnation or other taking of the P~operly, o~ paN tl~erro(, ~r for conveyance in lieu of condemnation, aro hereby usianed
and shall be paid to [.ender.
in the event of a total laking of Ihe Pmper~y, the proceeds chall tx applied to the tums securcd by this Mortaage,
with the eacess, if any, paid to Barrower. In Ihc cvent of a partial taking of the Praperty, unlest BoROwer and Lende~
cHherwix ag~ee in writing. Iherc shall he applied ~o the sumc securcd by this Mortgage cuch proporlio~ of the proceeds
as is equal to Ihat prapoMion ~-•hich the amounl of the sum~ secured by this Mortgage immediately prior to the date of
taking bears ro the tair market valoc uf thc Pn.~x:rrv immediately prior to the date of ~aking, wi~h Ihe halrnce of the procetds
paid to Borrower.
If the Propeny ic aband~ne.i h~• Borrou•cr. ~.r if afler notice by I.ender to Aorrow~r Ihat tht condemnor offers to make
an awca~d o~ cettle a claim for J:~m;~ge.. Bs•rrc~wer fa,l, t„ re~~+c~nd t~ I.ender within 30 days after the date such notice is
mailed. Lender ic authorited to rnlle~t and applr ~he proccedc. at I.ender i option, either to restontion or r+epair of the
Propcrry or to the sum, ~ccurc~ b~• thi~ Mort~eagc
Unlec~ 1 ender and Borrower othen~•~.e agree in wrinnF, any xuch application of procetds to principal shall not extend
or ~ctpone the due date o( the momhl~• inttallments referred to in paragraphc 1 and 2 he~eof or change the amount of
cuch installmentt.
10. Borrower Not Rekzsed. Fxtention af Ihe ~ime for payment or modification of amortization of the sums securcd
by this Martgage gnnted by l.ender tci any cuccecsor in interest of Borrower ~hall not optnte to rcleax, in any manner.
the liabilily ot ~he original Borrower and 8c-rrower i succescnrc in int~rcst. I.ender shall not be rcquircd to commence
prc,ceedings against cuch successor or refuu to extend time for payment or otherwice modify amortizaoon ot ~hr sums
ucured hy Ihic Mortgage hy reacon of any demand made b~• Ihe oriqinal Bormwer and Borrower's soccesson in iMerect.
11. Forbearance by I.ender Not a Wdver. Any forhearance by I.ender in exercising any right or remedy hercunder, or
othenvise afiorded by applicable law. shall ne~t tx a waiver of o~ prcclude the exercise of any such right or rcmedy.
The procurement of insurance Qr the paymeot of t~xes or other liens or charges by t.ender chall not he a waiver of Lender's
right ~o accelerate the maturity of the indehtednecs cecurcd hy thic Mortgage.
12. Remedies CumulaH~e. All rcmedies provided in this Mortgage arc distinct and cumulative to any other rBht or
remedy.under thic Mortgage or afforded hy law or equity.. •rnd may be exerciced concurrentty. independently o~ succes.sively.
~ 13. Successors and AssiRws Bonnd; .Joinl and Se`reral I.iability; CspHons. The covenants and agreements herein
contained shall hind, and the riRhts hercunder shall imire to. Ihe rcspertive succeccnn and assigns of Lender ac~d Borrower_
subjtet to the provisionc of paragraph 17 hereof. All covenants and agreementc of Borrower shall be join/ and severol.
The captions and headingc of ~he paraRraphc of thic Mortgage are for convenience only and arc not to be uaed to
interprct or define the p~ovicions here~-f.
14. Notke. Except for any n~+ticc required under applicahle law to be given in another manner, (a) any notice to
Borrower provided for in this Mortgaee ~hall be given h}• mailing such notice by certified mail addresud to Borr~wer at
the Property AJdress or a~ such o~her addres~ as Borrower mav dec~g~ate by no~ice to T.ender as provided herein, and
(bl any notice to Lender shall he given hy certificd m•rd. retum leceipt requested. ro 1 ender s addreu s~alcd herein or to
cuch o~her addresc as Lender may decienate by n~tire t~. Borrower as provideJ herein. Any no~ice prmided tor in this
Martgage shall tx deemed to have 1+een g~~•cn to Hormwcr or t_ender when g~ven in the manner decignattd herein.
1S. Unitorm MoriRa~e: Covernin~ ia..; Se.erabilit~. Th~ti form of mongage combines uniform covenants for nationa)
use and non-uniform covenan~t with limifeJ ~~ariahone h~ µ~nui~ction to constitute a uniform xcurity instrument rnvering
rca) property. Thic Morlgage shall t~e governed hv the law~ of Ihe jurisdiction in which the Property is located. In the
event that any provis~on or clauce of thic Mortgaee or the Niae conflicts wi~h applicable law, such conflict shall not aNect
other provisions of this Mohgage or the N~tr wh~ch can be given eBec1 without tht conflicling provicion, and to this
end tht provisians of ~hc Mortgage and ~he No1e arc ~leclared to tx ceverable.
16. Eor-ower's Copy. Borrower chall bc furni~hed a con/ormed copy of the Note and of thit Mortgage at the time
of execution or af~e~ recordation hercof.
17. Transter ot the Property: Ascumplion. If all or any part o( the Property or an intercst Ihertin ic sold or tnnsferrtd
by Borrower w~tho~~t [.ender's pn~r wnt~rn «~n~en~. excluding (a- the c~ca~ion of a lien or encumbrance suhordinate to
thic Mortgage. (b) the creation o( .l ~U(I~IJ~C m~•nev .ecurity mterest tor household appliances. (cl a trancfer hv devise.
descent or by operation of law upon Ihe Jea~h ot a j~~~nt teoant or ld~ the g~ant of any Itasehold interesl of ~hrec }•can or Iess
not containing an option to purchase. [ enJer may~. ai 1 ender'ti opUOn, dtrl~rt all Ihe sums securcd by th~s Mortgage to be
immediately due and pa~•ahte. Lcnder chall ha.c w,uved such opt~on ~o :~ccrlrrate if, prior to ~he calt or ~ranskr. Ceoder
and the person to whom the Property i. t.~ Fx ..~IJ or Iransferred reach agrcrment in writing that the creJ~t ~f wch person
is saticfactory ~o I.enJer and that ~he imerr.~ pa}able on the sums secured by this Mortgage shall be at such nte ac Lender
shall request. If l.ender has waived the op~~~~n to accelerate provided ~n ~his paragraph 17, and it Borrower's ~ucceswr in
interest hac executed a w•nlten ascump~ion agreement accepted in writing by l.ender. Lender shall release Borrower (rom all
obligat~ons under this Mortgage and the N~te. ~
it Lender ezercius such opt~on a~ accelerale. I.enJer ~hall m~il Borrower notice of acceleration in accordancc whh
paragraph 14 hereot. Such notice chall prowde a pericxi of ho~ lessithan 30 days from ~he date the notice is mailed within
which Borrower may pay the sums declared due I( Borrower fails ~o pay such sums prior to the eapiration ot cuch peru~d,
Lendcr may, without turthcr no~~ce or dcmand on Horrower, invoke any remedies permiued by pangraph IR hereof.
NON-UNIFORM COVfNANTS Borrower and l_ender further covenant and aarte as follows:
18. Accelerstion; Remcdks. Except as provided in psn~nPh 17 hereot. opoA Eorrowers bre~cw ot any cortwanf ot
sRretmeat of dorro~+er in Ihis Mort~s~e. includinR Ihe corenanls to pay when dne ~wy snms stcured by this MorfR~e. l.ender
prior to atcek~stbn shdl mail no~ice to tRorm~-e~ as provided {n psrairsph 1~ hereot spccf(rin=: (1) the Mrach:1211he actbA
required to care snch bresch; ~3) a date. not Icss IAan 30 days irom the dale the notke b maikd to eorror.er. br w~kh suc~
b~esch mwt be cu~cd: sad (1) Ihat t~iluro ~o core s~ch breacb oa or betorc thc dMe sPecNied in tAe notke m~r rrsuh i~
accekration of ~6e soms secured by ~hk MortRa~e. fwrclow~r br judlcid proceedin~ snd sak ot tAe Properry. Thc nolke
shdl furlher intorm dormwer of the ri~ht to ninslate atler accekratbn and tAe ~ht to asseA iw tbe fortclostire ~roceedi~
tbe non-eaistence ot a detaeM or snr other d~tense ot dorrower to ~cccknfbn ~ad toreclosore. It fAe SrexA is aot awred ow
or betort the date speci5ed in the notice, t_ender ~t t.rnder's opliow aay detlate dl ot tbt senis stc~rsd by thls MortRaRt to bt
immediattly due and p~yabk without further dem•rnd ~nd msy toreclost thit Ma1~a~e br judicW proteedlnR. I.en~Jer shall
6e eatiNed fo colket in s~cA proceedinR a8 e:penses of torecbsure. Inclndini. ~ut not U~nittd to. reasoniek s1a-rney's fees.
and costs of docuiaestary evidence. abstrscls and ii~k nports.
19. donower's R~A1 Io Reiratste. Notwnh~trnd~nK 1 ender's accelerot~on of the sums ucured by th~s Mongage.
Botrower shall havt the ngh~ to have am prcxe~dmc. Fk'un b~ Ltndt~ Ic- en(~rct thn M~rlgaqe dnc~nhnueJ a~ an~ hmt
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.~,,. , ~,1~K 346 P~rE 424
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