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Lcnder'c wriUcn agrecment ar appl~caMle law. Borrawer shall pay thr amount ot all mottgage insurancc premiums in the
mannrr p~uv~Jrd undcr par:tgraph 2 ht~to(. •
Any amounh di~hur+ed b~• 1 emMr punu:~nl lu this paragraph 7, wqh u~tercc~ Ihereon, chall t+ecome additianal
ind~Mcdnc,c af N~xruwrr ~ccunKl hy ih~~ MortgagC. ltnlc~~ BOff1~K'l'f anJ I c~Jcr -rgrcc to othcr tctmc of payment, Such
am~~unt~ chall he p~~~ablc u~x~n n~~tirr ir~.m 1 cndcr t~~ Bormwer rcyue~~ing paymcnt thc~eof, an~j~ bsa~ inlerest from the
da~e of dicburcement at the rate payaMe fr~~m lime to time ~m a~Ustanding pri~cipal ur~do~ ~t~E ~ote unlecs payment of
interest at such rate would I+e amtrarv ~~ applicablc law, in which event auh amountc ~hal) hear interest at the highest rate
permissible under applicable law. Nathing c~~ntained m Ihi~ paragraph 7 chall require I.endcr la incu~ my expense or take
any action hcreunde~.
S. Iaspeclaa. I.ender may make i•r ca~~.c to he made reaconable entriec u~n and inspections of the Prope~ty, provided
that i.e~der shall give Borrnwer not~cr p~i~.r t~~ any ~uch inspection specifying reasanabk cause therofor rslatod to I.et~der's
interest in the Property.
9. Condemnation. The pnxeedt .~( any awa~d o~ claim for damages, direct or consequential, in con~ection with any
condemnation or other taking of the PropeNy, or pan thercof, or tor conveyance in lieu of condemnation. are he~eby auigned
and shall be paid to Lender.
In the event of a total taking of Ihe Propeny. the proc~xds chall be applied to ~he sums secarca by tfiis Mo~taaae.
with the ezcess, if any, paid to Bor~ower. In thc cvent of a pahial taking of the Property, unless Borruwer and Lender
olherwise agrce in writing. therc shall be applied to ~he cums securcd by this Mortgage such proportion of the proceeds
as is equal to that prapoMion w•hich the amoant of Ihc somc secured by this MortgaRe immediately prior to the date of
taking bears to the fai~ market value ot the Pmpertv immediately prior to ihe date of taking, with the Aalance of the proceeds
paid to Borrower_
if the Property ic ahandoneJ h~• Borr~vver. or if af~er notice by l.ender to Bormwe~ that the condemnor oRers to make
ao award or setNt a claim for dama~c~. R~~rr~v-•er t~~l. ti. re~~+nnd fo I.ender within i0 days after the date such notice is
mailed. I_ender ic au~horized to c~llect and appl~• ~he proceeds. at 1_ender's option, either to restoration ar nepair of the
Property or to the cum~ ucured M• thi~ MortRage.
Unlesc I.ender and Borrov-•er othervvi~c agree in w riting. any such applica~ion of prc~ceeds to principal shall not eatend
o~ poctpone the due da~e of the monthh• inst~llmcnts rcferred to in paragraphc 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Rekzsed. Extensian of the time far payment or modification of amortization of Ihe sums securcd
by this Mohgage g~anted bv l.ende~ to any cuccecsor in interect of Borrower ~hall not opente to teicase. in any manner.
the liability of the original Bortower and Bc-rrower'c successorc in interest. i.ender siaall not be required to commence
proceedings againct such successor or rctuse to extenJ time for payment or otherv~rise modify amortization of ~hr ~ums
secured by thic Mortgage by rcasc~n ot ~ny demand made by the ori¢inal Borrower and Borrowers soccesson in interect.
11. Forbeannce by T.endtr Not s Waiver. Any forhearance hy 1_ender in erercising any righl or remedy hereunder, or
othenvise afTorded by applicahle law. shall not t~e a waiver of or preclude the exercise of any such right or nmody.
The prc~curement of insurance or the payment of taxes or other lieni or charges by 1_ender chall not 1x a w•aiver of LendePs
right to accelerate the maturity of the indeb~cdnecs securcd hy thic Mortgage.
l2. Remedies Cumulati~e. NII remedits provided in this Mortgage are distinct and c~mulative to any olher right or
remeJy unde~ thic Mortgage or afiorded hy law or equity, and may tx exerciud concurrcntly, inde{+endently or successively.
' 13. Soccessors and Assi~os Bound; ,Joint and Sereral I.iab~iry; C.aptbns. The covenants and agreements hercin
con~ained shall hind, and the riRhts hereunder shall inure to. the respectiye successors and assigns of ~ender a[~d Borrower.
subject to the provisionc of paragnph 17 hereof. ^II covenants and agreementc of Borrower shall be joiry and several.
'T~e captions anJ headingc of the paragraphc ~f thic Mortgage are for convenience only and arc not to be uced tp
interprct or define the pravicionc hera+f.
14. Notke. Excep~ for any notice required under applicable law- to be given in another manner, (a) any notice to
Borrower providtd for in this Morlga¢e shal) tx given hy mailing such notice by certified. mail addresud to Borrower at
Ihe Property. Address or at such ~wher addresc as Borrow•er ma~• decignate b~ no~ice to T.ender as provided herein, and
(h) any notice to Lender shall he given hy cer~ifieJ ma~l. relurn rece~pt requected. to 1 ender's addrea sta~ed herein or to
wch o~her addrcsc as Lender may deciqnate by n~tice to Borrower as pru~~ded herein. Any notice provided for in this
Mortgage shall be deemed to havc I+een g~~•en to Bcar~wer or I.ender when given in Ihe manner designated herein.
1S. Unitorm MoARa~e: Coverninx IaN; Se•erabilil~. Th~~ form o( mortgage combines uniform covenants for national
uu and non-uniform covenantc wi~h limited ~•ana~ions M ~uncd~ction ta constiwte a uniform securiry instrument rnvering
rca) proptrty. This Mortgagt chall be governed h~• ~he law of the jurisdiction in which the Propetly is located. In the
event that any provision or clauce of thic Mortgage ~•r ~he Note conflicts v-ith applicable law, such conflict-shall not aBoct
other provisions of this Mortgage or the Natr wh~ch :an I+e g~ven efiect without the conflicting provicion, and to this
end the provisions of ~he Mor~gage and thc 'Vote arc dcrlared to be severable.
16. Eorrower's Copy. Borrower Shall be farm~hed a conformed copy o( the Note and of this Mortgage at the time
of execution or afrcr rccordation hercof_
17. Transfer of the P.ropertv: Accump~ion. I( all or any part o( the Pmperty or an intercst therein ic sold or transferred
by Borrower wilhout I_ender's pr~or wnt~.n ~uncem. c~cluding (al Ihe creation of a lien or encumbrance subordinatt to
this Mortgage. (hi the creat~c-n of a purch~k mnnev eecurity interest f~s household appliances, (c- a lranc(er by d~vise.
descent or by t~pera~ion of laN upcx~ the Jcath nf a j~~~nt te~ant or (d~ the grant of any leasehold intercst o( threc ycars or kss
not containing an option to purchase. [ ender may. at l.ender'~ opt~on, declare all ihe sums secured by this Mortgage to be
immediatdy due and Payable. 1_ender ~hall h~ve w.uved such opUOn to accrlerate if, prior to ~he wle or Iransfer. Lender
and the person ~o whom the Pro~xrty i. a. be .ol.l or trans(erred reach agrecment in writing tha~ the creJit ot wch percon
is satisfactory~ to LenJer and ~ha~ ~hr en~crc.i pay~ble on the sums secured by Ihis Mortgagt shall be at soch ro~t ac l.ender
shall requesl. If I.ender has waiveJ the opt~on to accelerr~e provided ~n ~his paragraph 17, and if Borrower'> >uccasor in
interest hac executed a vvritten assump~ion agrcement accepled in wri~ing by [.enJer. 1_ender shal) rtltase Borrower from al)
obligations under this Mortgage and the Note.
If t_ender exercixs such opt~on t~~ ac~elerale. I.enJer ~hall mail Borrov-er notiee of acceleration in accordancr w~~h
paragraph 14 hereof. Such nouct chall prov,de a pericxi of not less than 30 days from the date the notice is mailed wi~hin
which Borrower may pay ~he suma derlared due. It Borrower fails ~o pay such soms prior to the expint~oo of wch penc~d.
Lender may, wi~hout further not~ce or ciemand on Borrower. mvoke any remedies permitted by parograph IR hereof.
NON-UNIFORM CO~'ENANTS Borrower and Lender funher covenant and asree as follows:
18. Accelcnlbn; Remedia. E:ceq as provlded in psra~rapb 17 Utnbl. upoo Sorrowet's breacM o( ~ny covenswf or
a~reemeat of eorrowcr in this MortRaRe. includin~ Iht corcnanls lo pay when dYt sny snms secured ~y this Mor1R~e. I.ender
prior lo sccekntion sbdl mail notke to dorrower as prorWed la Oars~nph 11 hereo[ speclfyin~: (1) Ihe bn~cA:121 the sctbp
~+equlred to cnn sucb breuh; (J) a date. not kss ~ban 30 dsys trom the dste the notke b maikd to Eo~o~+er. by ••hkh suc~
b~each mwt be cnred; and (4) that t~ilure.lo crre snch bresch on w betorc the dde speci6ed in tAe nolke may resuN i~
accekratioa of tbe s~ms securod ey Ihis MortRa~e. fo-cclowre by judkial pwceedinR ~nd sale o( tbc Properry. 71~e notke
shdl turther inform dorrower of ~be riRhl to reinstate at~er sccckrstioa snd Ibe ~bt to asecrt fa the foreclosure /roeeedl~
tht rwn-existence ot s detsuN or any otber deftese of dorro~+er to ~ccekration and toreclosnre. It Ihe Anicb is not ceecA o~
or betore Ihe date specified in the notice. l.ender a~ I.ender's optio~ wuy dctlar~t ~p ot tht sr~ sKre~td b~' tAts MoARaRe to be
immtdiattly due and ptrable witheul turther demand ~nd may forecbst ~hlt Mo~a~e ey judkW ptoceedlnR. I.ender shall
be totitkd fo colleet In such proceed~nR s!1 e~P~nus of foreclosnre. includin~. Mt ~01 li~nited to. reasonaele s~~•.rn~r's fees.
and cosfs ot documep/ary evidenet. abstracls ~ed ~i~le reports.
19. dorrowers RI~At fo Reinsiste. iYo~wnh~~andinX I ender's accelerat~on of the sume eecured by ~h~c Mongage.
Borrower shall havs the rigM to.havt am prcxe~d~ne• tK~~~n b~ Lender t~ en(~-ce thi~ tilortgaqe dnrnnhnued a~ an~ t~rtx
~ g ,ox 34~ P~~E 438
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