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l.ender's w~itten agrcemen~ or applirablc law. Borrower shall pay ~he amount ot all mortgage iosurance prcmiums in the
mannrr provided unde~ paragraph 2 hercot. ~
Any amou~ts dichursed by I.rnJe~ pursuaot ta this parag~aph 7, wi~h intercst thereon, shall bccome additional
indchtedncss ~if Ho~~owcr sccurrd hy ~hic Mangagc. Unlecs Borruwer and I.enJer agrcc to alher tertns of payment, such
amounts shall he payable upcm notice f~om 1 ender to Borrower requec~ing paymen~ therec~f, and shall bear interesl from the
date ot dicbursement at thc rate payahlc from time ta ~ime on oulstanding principal under`Ihe Nale uhless paymet~t of
interesl at such rate wauld be contrarv t~ applicable law, in which event cuch amoonts shall hear intercst a1 the highest nte
permiuibk under applicable law. N~~Ihing con~ained in this parag~aph 7 shall require I.ender to iocur any expense or take
any actio~ hercunder. .
S• laspectiow. I_endcr may makc ar rauac 1~ hc mad~ ~eascx~~bk eolries upon a~d inspections of the Ptoperty. provided
tha~ l.ender shall give Borrawe~ natice pri~~r t.~ any such i~spection specityina oeuonabk cause therofor rdatod to I.ender's
interest in the Propeny.
9. Co~de~nnstbn. 'The prcue~dt of any award or claim tor damaga, dirccl or consequential. in connection ~vith any
condemnation or other taking of the Propehy, or pah tAercof, or for conveyana in lieu ot condemoation. are he~eby assiaood
and shall be paid to Lender.
Tn the event of a total taking of the Property. the proceeds shall L+e applied to the sums securcd by this Mortaaae,
with the excas, it any, paid to Borrower. in Ihc event af a partial taking of Ihe Property. unless Borrower ar~d I.ender
wherwise agree in writing. therc shall be applied to Ihe sums secuted by this Mortgage such propohion of ihe pr~oceeds
as is equa) to that proporlic-n w•hich the amaunt o( ~he sumc secarcd by this Mongage immediately prior ~o Ihe date of
taking bean to the fai~ market value of the Pro~+erty immediately prior to the ~ate ot taking, with tho balance of the pmcoeds
paid to Borrower.
If the Propeny is ahandoned by Borrowcr. or if. after ~oticc by 1_ender to Bormwer that the tondemnor oRets to mate
an award or uttle a claim for dama¢r., Bormwer fail. to res~nd to l.ende~ within 30 days after the date such notice is
mailed. Lender ic authorized to collect and apply the proceeds. at 1_ender's optio~, either to restoration ar ~epair of the
Property or to the sum~ sccured hy this Mort~tage.
Unlesc t.ender and Borrower othenvice agree in writing, any such application of procetds to principal shall not extend
or pcxlpone the due date of the momhly installments ~cferred ta in paragraphc 1 and 2 hercof or chanae the amount of
tuch installments.
10. eorrower Not Rekased. Extension of the time for payment or modi6cation of amortization of the sums socurcd
by this Mortgage granted by I.~nder to any ~uccecsor in interecl of Borrower shall not opente to rekase, in any manner.
the liability of the original Borrower aod Borrower'c successorc in intercst. I.ender shall not be rrquircd to commence
proceedings against such successor or rcfux to eYtenJ time for payment or dherwix modify amortizaoon of the sums
secured by this Mortgage by rcason of any demand mad~ by the ori¢inal Borrower and Borrawer s successors in imereq.
11. Forbeannee by i.eeder NM s R-tl~er. Any torhearance by I end~r in exercising any right or rcmedy hetetmde~, or ~
othtrwise afiorded by applicabk law, shall not be a waiver of or preclude the exercix of any such right or remedy.
The procurcme~t of insurance pr the payment of taxes or other liens or charges by t_ender shall not be a waiver of Lende~'s
right to acctlerate the maturity of Ihe ~indebtedness ~ecurcd hy this Mortgaga
12. Remedks Comnlsti~e. All remedies provided in this Mongage are distinct and cumula~ive to any o~her right or
rcmedy unde~ this Mortgage or afiorded hy law or equity, and may be exercised concurre~tly. independently or succtstively._
' 13. 3~cce~ors and Assi~ws dousd; Joi~t awd Se~ersl i.is6ililr: Captbss. The covenants and agreements hercin
cc .ained shall bind, and the riRhts hercunder shall inurc to. tMe respective successon and assi6~n of Lender at~d Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Borrower shall be. jary and sevenl.
The c~ptions and headings of the paragraphc of Ihis Mortgaae arc for convenience only and are not ta be i~sed to
interprct or define thc provisions herrnf.
14. Notke. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mnrtgaee shall be given hy mailing such notice by certitied mail addressed to Bcxrower at
the Property Address or at such aher addrcsc as Borrnwer rnav designate by naice to i.ender as provided hercin. and
(b) any notice to Lendet shall I~e given by certifieJ mail. retum receipt rcquested. to I.ender s address stated herein or to
such other addrcss as Lender may decignate by nc-tice lo Borrower as provided hercin. Any notice provided tor in this
Mongage shall be deemed to havc been given to Borrawer or l.ender when given in the manner desig~ated hercin.
15. UnNone Mort~sRe: Go~ernin~ Iaw; Seversbililv. This form of mortgage combints oniform covenants~for national
ux and non-uniform covenan~c with limi~ed varia~ions b~~ jurisdic~ion to constitule a uniform security instroment coverina
rcal property. This Mortgage shall be Roverned hy ~he law ot the jurisdiclion in which [he Propeny is located. In the
event ~hat any provision or clause of th~c Morigage or ~he Note conflicts wilh applicabk law, such conflict shall nd alfeet
other provisions of this Mortgage or the Note wh~ch can t+e given eBect wi~hout the conflicting provisan, artd to this
end the provisions ot tlx Mo~lgage and thc Note are Jeclared to be severable.
16. Sorr~wer's Copy. Borrower shall be furniched a conformed copy ot Iht Nott and of this Mortgage at tht time
of execution or a(~cr rccordation hereo!_
17. Tnsder oi N~e Property: Assump~iow. lf all or any paN of the Property or an intercst thercin is sold or tnnsfernd
by Borrower without Lender's prior wrh~. n consenl. eacluding (al the crcation ot a lien or encumbrance subordinate to
ihis Mortgage. (bl the creation of a rur~hrcr monevi cecori~y intercst !or household appliances. (c) a tronster by devise.
descent or by operation of law upon the Jeath of a joim tenant or (d1 the grant of any Itasehold intercst of Ihrcc yean or kss
not containing an option ta purchase, t.ender may, at I.ender'~ opt~on, declare all ~he sums xa~red by this MoAgage to be
immediately due and payable, l.ender ~hall h~ve w;~rved such op~ion to arcrlerale if, prior to the cak or tnnskr. Ltoder
and the person to whom ~he Proper~y ic tu F-e ,o1J or ~rans(erred reach agrecment in writina that the credi~ of ~uch percon
is satisfactory to I.tnder and Iha1 the in~crr.~ payable on the sums secured by this Mortgage shall be at such rate ac Lender
shall request. 1( I_ender has waived ~he opi~on to accelerate provided in ~his paragraph 1~, and if Borroweri successor in
interest hac execuled a written assump~ion agreement accepled in writing by 1_ender. Lender shall «Iease Bor~ower from all
obligations under Ihis Mortgage and the Noie.
If Lender exercises such option t~ acctlerale. 1_enJer chalt mail Borrower notiee of acederation in accordanc. W ith
paragraph 14 hereof. Such notice shall prov~de a period of not las than 30 days irom the date the notice is mailed within
which Borrower may pay the sumc declared due. It Borrower fails to pay such soms prior to the eapiration of cuch peru~d.
Lender may, without turther notice or dcmand on Horrower. invoke any remcdies permitted by paragraph IR hereof.
NON-UNIFORM COVENANTS Borrower and Lcnder funhcr covcnant and agrce u follows:
I8. Accelerslion: Remedks. E:cept as prorided ia ps~rap~ 17 bereot. ~. so~.~o..~r: e~w ot a.y ~o.~...~ or
a~reemest of doROwer ia fbis MortRaRe. intludit~ Ibe coreaaMs lo pay wheo ane uy soa~s sttrrtd by thk MortR~e. [.eader
prbr to ~ccekratbn shdl mail notke 1o eorror-er as prorlded fa psn~raph /4 hereot speci/yin~: (1) tAe Mr~ch:121 the setlos
requlred to cure soc6 ~esch;l3) s dste. aot less Ihan 30 days tron~ tbe dale the nolke b ma8ed to do~rower. by .rAkb wc~
b~cach mwd be cered: ~ad (1) ~hat (ailure to corc srch breach o~ or setorr tbe dMC speciGed iw the notke msy resWt i~
•ccckration ot t6c soms secund by th~s MortRaRe. Ioreclo~urr by jadkial proceedi~ aad stle ot ~be Prope~. 71~e nolke
shall turther intorm dorrower ot the ri~hl to reinstsft at1e~ sectkrstbs aed tbe ~bt lo a~sc~t ia tAt toreclosrre'roteedi~
tbe aoa-exastence ot a defauN or any olher detense of EoTrowtr to scnkrstios swd fotecfosnre. lt tbe brescA is aot erre~ ow
or Aefore IAc d~te specified in the eotke, l.cnder al I.endt~'s ortio~ may declare sN ot fhe ssw~s sec~rrd by tAis MoARaRt fo bc
immediately due snd Psyibk ..ithaut turther demanq and may toreclose this Mo~a~e by judkW ~roeecdinR. I.~nde. cl~all
be eoHtkd lo collect in sucb proctedir~ all e:peoses n( /oreclos~ro. leclndi~. brt sot Umited to. rrasonabk at~.-rneti's fees.
and costs of doeun~enlary e~idence. sbstrac~s ind ~itle reporfs.
19. dorro~+ers RI~h1 to Reinstate. Notwi~h~tanding 1 ender's accelerat~on ot the sums ucured by ih~c Mongage.
Borrower shall have ~he nght to have an~ p~cxecdme< hr~~~n b~ lendtr to enlorct th~~ M~rtgaqe dnc~ntmued at an) hmt
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