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LcnJcr'c wnttcn agncmcm or apphrablc Iww. Horrowe~ shall pay ~he amuim~ a[ all moNgage inwrance prcmiums in the
m~nn~r piuv~d~d under para~raph 2 hereo(.
Any am~~unt~ di~hur~rd by I cn~le~ pur~uant tu this parag~aph 7, with intctect thercon, chall l~ecome additiona)
~ndrhtrdnc~~ of y~,rruwrr ~ccurcd hy ~h~c Mungagc Unle~. l3orruwcr anJ 1 rnJe~ agrec to Mher Icrmc o( payment, such
am~untc ~hall tm pavahle u~xm nuli~•~ fn.m 1 rnder 1o Borrow~r rey«ecting paymenl thercut. ,nJ shall hea~ interest from the
date of dichursemeM at thc ~atc payablc tmm time to time on ountanding principal `u~der~the Notc unlest paymeot of
interest at such rate would I+e contrarv t~~ applicable law, in which event soch amounts chall hear interect at the highest rate
permissibk under applicable law. Nu~hing a~n~~ineJ in thi~ paragraph 7 chall rtquirc I.cnder to incu~ any eapense or take
any action hereundcr.
S. Iatpectioa, l.e~der may makr .-r rai~~c to he made reaconabk enlriec upon and inspeclions of the Praperty. provided
tha! I.ender shall give Borrower n~~~ice pri~~r to any surh inspection specifying rcasonabk cause thercfor rclatod to Le~de~ s
interest in the Property.
9. Coademaatbn. The prc~ceedc of any award ar claim fc~r damaga, dircct or consequential, in connatio~ with a~y
condemnation or dher taki~g of the Propeny, ar pa~t tAercof, or for conveyance in lieu of condemnation. aoe hereby assianod
and shall be paid to i.ender.
In 1he event of a total taking of the Pmperty. the p~oceeds chall be applied to the sums secarcd by this Mortsaae,
with the excess, if any, paid to Bor~c-wer. In thc cvent of a partial taking ot the Propeny, unless Bomower and I.ender
otherwiu agroe in wrilinR. therc shall t+e applied to ~he cumc securcd by this Mortgage tuch proportian of the procoeds
as is equal to that proportion Which the amo~~n~ at ~he sumc ucured by this Mortgage immediately prior to the date of
taking bean to the fair market value of the Pn~~r~y immediately prior to the datt of ~aking, with the balance of the proceeds
paid to Sorrower.
If the Property is ahandoneJ by Borr~wer. ~,r if. after notice by l.ender to Bormwer that tht co~demnor offers to make
an award or setNe a claim tor dam~~e~. R~-rmvver fail. tc. ~ecpond te- I.eoder within i0 days after the date such ne~tice is
mail~d. I_ender ic atuhorized ~o collec~ and appl}• ihe prc,ceeds. at I.ender's option, either to rcstoration or repair of the
Proper~y or to the cum> >ccured M• thic Mortgage.
'Jnlesa l.ender and Borrow•er otherwicc agree in writ~nc. any such applicalion of proceeds to principal shall not exlend
;-r pcxtpone the due Jate of the monthly installments referred ta in paraRraphc 1 and 2 he~+eof or thange the amcwnt of
such installments.
10. ~rower Not Released. Extenvon of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by l.ender to any cuccessor in imere~t of Botrower chall not opente to rekase. in any manner.
Ihe Iiabilily of the oriqinal Borrower and Bc~rrower'~ successorc in interest I_ender shall not be required ta commence
pn,ceedings against such successar or re(ux to entenJ time for payment or otherwice modify amortizahon af thr sums
ucured b~• thic Morigage hy rcason of any demand made by Ihe oricinal Borrower and Borrawer s successon io interctt.
11. Rorbearance by i.ender Nof a Wd~er. Any f~rhearance by l.ender in etercising any right or remedy hercunder, or
otherwise afforded by applicablt law. shall ne~t be a waiver ot or preclude th~ exercix of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by l.ender shall nOt be a waiver of Lender's
right to accelerate the maturity of the indthtednecs cecurcd hy thic Mortgage.
12. Remedies Cumulathe. All rcmedia providcd in this Mohgage arc dis~inct and cumulative to any other right or
remedy under this Mor~gage or afForded hy law or equity. and may be exerciud concurrcotly. independently or succeuively.
' 13. Successors and AssiR~s dound; .Joint and Several I.iabilMy; CspNons. The covenants and ag~eements hercin
comained shall bind, and the ri~hts hereunder shall inure to. thc rcs~xctive successors and assigns of I.ender aod Borrower.
cubject to the pravisionc of paragraph 17 hercof. All covenanls and ag~eements of Borrower shall be joiry and sevenl.
The captions and headings of the paragr~phc of thit Mortgage are for convenience only and are not to be oced to
interprct or define the provicians hereof.
i~. Notice. Except (or any nolire required under applicable law to be given in another manner, (a1 any notice to
Borrower pr+~vided for in this Morlga¢e ~hal) be given ny mailing such notice by certified mail addressed to Borrower at
the Property Address or at such dher addresc as Borrower mav decignate by notice to i.ender as provided herein. and
(bl any notice to Lender shall he given by cerlified mail. return receipt requested. to [ enders address statcd herein or to
tuch other addrcss as Lender may decienate b}• nrnice tc. Borrow•er as pro~~ded herein. Any notice provided for in this
Mortgage shall bt de~med to have 1+een gn~en to Bc-rniwer or I.ender when given in the manner designated herein_
15., Uoiform Mor/Ra~e: Covernin~ Iaw; Se~c-ability. This form of mortgage combines uniform covenants for national
use and non-uniform cavenamc wi~h limited vanations hy jun~dictian to constitote a uniform security instrument coverin6
rcal property_ This Morlgage shall be governed hv Ihe law• ot the jurisdiction in which tl~e Property is located. In the
event ~hat any provision or clat~se of thic Mortgage or ~he Note conflicts v-i1h applicabk law, such conflict shall not aRect
o~her provisions of this Mortgage or the N~tr wh~ch can be given efiect without the conflic~ing provicion, and to this
end ~he provisions of ~he Morlgage and the Note are Jeclared to tx xverable.
16. Sorrower's Copy. Borrower shall t-c furniched a contormed copy of the No1t and of Ihis Mortgage at the time
of execution or aNer recorda~ion herrof.
17. Tnaster o/ tbe Propertv; Assumplion. If all or any part of 1he Property or an intercst thereio ic sold or tnnsferred
by Borrower without I.ender's prior writ~~•n ~onum_ e~cluding (al Ihe crwtion of a litn or encumbrance subordinatt to
~his Mortgage. (b~ the creation of a ~urcha~r•m~~nev ucuri~y ~nterest for household appliances. (c) a-trancter hy devist.
descent or by operation of law upoo the Jca~h of a j~~~nt ~enant or (dl the grant of any leasehold intercst of Ihrec ycars or kss
nol containing an option to purchase. I_ender may_ a~ I_ender'c option. decl~re all ~he sums seeured by Ihis Mortgagt to be
immed~ately due and payahle. l.ender chall have N,nved such opdon to accrlerate it, prior to Ihe cale or Iransfer. Cender
and the person to whom the Proper~y i. n~ t-c +~•IJ or ~ransterred reach agrerment in writing that the credit of cuch percon
is satishctory eo Lender and tha~ the intrrr.t payable on the sums secured by ~his Mortgage shall be at such rate ac I_endtr
shall request. If l.ende~ has waived thc op~ion to acceleratt provided in ~his paragraph 17, and if Bonower's ~uccessor in
interest hac executed a written aswmp~~on agreement accepted in w~i~ing by Lender. Lender shall releast Borrower (rom all
obligations under this Mortgage and ~he Ncue.
If I_ender txercixs such opt~on tc. accelerate. I.enJer chall mail Borrower notice of acceletation in accardencr W~~h
puagraph 14 hertof. Such not~ce ~hall provide a period of not Itss lhan 30 days from the dalt the nolict is mailed wi~hin
which Borrower may pay tFie sums derlared due. It Borrower fails to pay such sums prior to ~he expiratio~s of wch peuod.
Lende~ may, without (urther notice or Jcmand on Horrower. invoke any remediu permit~ed by pangraph 1R hercof.
NON-UNIFOPM COVEN~NTS $orrower and 1_ender funhcr covenam and agree u tollows:
18. ~ Accekration; Remcdks. Excep as provWed ia pa~rapU 17 btreof. upw Sorrowe~s beac6 ot iny co~cwa~t or
atreemcat of eorro~+er in this MortRa~e. includin~ ~be coreasMs to p~y ~-ben d~e iay sums securcd by tbk MortRs~e. I.cndcr
prb~ to aceekratbn shdl mail notice to doROwe~ as prorlded fn parstraph 14 he~eo~ specl~yin~: (1) tbe Sre~cb; /2) ~Ae actloA
requircd to cure snch bresch;l3) s date. not less than 30 dsys f~ tl~e dsle the notke b malkd to domor.er. by wAkh weM
breach mwt be cured: aad (~) tAs~ tsilurr Io c~re s~ch~bn~cl~ oa w bc(ore Ihe dMe speelfied iw tAe wolke rnay nsdlt h
~ccekrstion ot 16e snms secund br ~Ais Mort~aRe. forecbsure by judkial Proceedlnt snd s~le ot Ihc Properry. The notice
shall turther inform dorro~.er of tAe ri~h1 to rrinstsfe d1e~ accekratbn snd the rithl to assert fA the fortclosrr+e'nnceedi~
t6c aon-existence of s dc(auM or sny other defen~e ot dono~+er fo ~ecekrafion awd /oreclosree. It fAe bnacA is not cerea o~
or Defore Ihe dste speci6ed ia the nofice. 1_ender al I.ender's optio~ w~ declare ifl ot the mn~s sec~rra~ by IAIs MortRaRe fo be
immediattly due s~ psyabk ~-ithout tuAh~r demand and may totttbst tbLf Morttatt by jndkW p-oeeedlu~. I.ender chall
be eotitkd Io colleet in sdch pweeedin~ sp e:penscs of toreclosarr. tnchrdin~. buf wot Un~ited to. rcasona~le an.-rn~y's fees.
•pd tOfRf O~ dOtY~A!/1~~ lrWtfltt. sbstrscts ind ~i~k reports.
19. eonower's Ri~h! to Relnsistt. Notwithtitsnding 1 enckt s accelerat~on of tht iums secured by ~h~c Mon~agc.
Borrower shall havt Ihe righl to have an~ prcxerdm~, heN~n b~ L~nder ~o enk~rce th~~ M~rtgaqe d~scontinutd at an~ hmt
a~~ 346 P~~E 463
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