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l.r~der'c written aKre~meni or appli~able law. Borrower shall pay the am~~unt of all mortgage incurance prcmiums in the
manner pruvidr~l under paruRraph 2 hereof. -
Any am~~unt~ di~hu~sid b~• I.rn~lcr punuanl to Ihis paragraph 7, w~~h intcrcct thcrcon, chall becomc adJitiana)
inJebiednc~~ uf lii~rre~wcr kcurcd by ~h~. Mungage Unle~~ Borruwer and l.enJer.:~ree to other termc of payment, such
ama~mh shall he pavaMe u~x~n n~~tice f~~~m 1 rnde~ ti~ Borrowrr ~eyuecting paymeM tAereot, anJ ~hall hear interest from the
date of dicburcement at the rate payahle tmm time to time un outslanding principal under the Note unlecc paymeot of
interesl at such rate would he contrarv ~o applicable law, in which evenl such amounts shall hear interest at the highect rate
permissible under applicable law. N~-thing c~~ntained ~n ~hic paragraph 7 chall require I.ender ~o iocur any expenu or take
any action hcrcunder.
8. Inspection. I.enJer ma~~ make ~-r rau.c t~ he made rea~onable enlries upon and inspections of Ihe Property. provided
th~t !_ender shall give Bor~~wer n~u~cr priur ti~ any tiuch inspectian specifying reasonabk cause therefor related•to LendePs
interesl in the Propeny.
9. Coademnatbs. The pr~cecde of any award ar claim for damages, dirccl cx consequential, in connoctioo with any
condemna~ion ar other taking ot the Propehy, or part thercof, o~ for conveyance in lieu of condemnation, are hercby assig~od
and shall be paid to L.ender.
in 1he eve~t ot a total taking of the Propeny, the proceeds chall be applied to ~he sums secured by this Mort6age,
with the ezcess~ if any, paid to Borrower. ln the evenl of a panial taking of Ihc Property, unless Borrower and Lender
~the~wise agree in wri~ing. therc shall be applied to ~he sums securcd by this Mongage such propoNia~ of the proceeds
as is equal to that proportion w~hich ihc amount of ~he sumc sccured by this Mortgage immediately prior to the date of
taking bears to the fair market value of thc Propcrty immediately prior to the date af taking, with the balance of the proceeds
paid to Borrower.
it the Propeny is ahandoned by Borrow•er, or if. after notice bv I.ender to Bormwer that the condemnor oBen to make
an award or cetNe a claim (o~ Jamaee.. B~•rmwer ta~l. In re~{+c~nd to l.ender within 30 days after ihe date such ootice is
mailed. I_ender ic authori7ed to collect and appl~• ihe proceeds. at I.ender's option, either to restontion or repair of the
Pro~+erty or to the wmti cecured br this 1Nortgage.
tlnlesc l.ender and Borrower otherwicc agrce in u rilinc. any such application of proceeds to principa) shal) not e~teod
o~ poqpone the due date of !he monthly inttallments rcfcrred to in paragraphc 1 and 2 hereof or change the amount of
such installmentc ~
10. Borrower Nof Released. Fxtension of the time for payment or modification of amortization of the sums securcd
by this Mortgage granted hy I.ender to any cuccecsor in intere~t of Borrower ~hall not operate to rcleau, in any manner,
the liability o( the original Borrower and Be-rrowe~ c s-wcesu~r~ in interest. 1_ender shall not• be required to commence
proceedings against such successor or rcfuse to ettend time for payment or olherwiu modity amonizat~on of thr .ums
cecured by thic Mortgage hy rcason of any demand made by the ori¢inal Rorrower and Borrower's successors in interect_
11. Forbearance by I.ender Nof a Wsiver. /1ny forhearanre by 1_ender in e~ercising any right or remedy hercunder, or
~therwise affordeci hy applicable law. shall nc-t Ix a waiver of or preclude the exercix of any such right or remedy.
The procurement of insurance or Ihe payment ai taxec or other liens or charges by i_ender shall not he a waiver,of Lender's
right to accelera~e the maturity of the indehtednecs ceaircd hy thic Mortgage.
12. Remedies Cnmulatire. All remedies provided in this Mortgage are distinct and cumulative to any o~her right or
remedy under Ihis Mortgage or aftorded hy law or equity, and may be exerciced concurrrntly. independently or succeuively.
' 13. Saecessors and Assi~ns Bou~d:.7oiat snd Sereral I.iaM'lify; CapNons. The covenants and agreements herein
contained shall bind, and the riRhtc h~reunde~ shall inurc to. the respective succesu~n and assigns of 1_ender ae-d Borrower.
subject to the provisionc of paragraph 17 hereof. /~II covcnanls and agreements of Borrower shall be joiry and several.
The captions and heading~ of the paragraphc of this Mortgage are for convenience only and. are not to be u~ed to
interpret or define the provicions here~f. ..
14. NMke. Except for any ncaice required unde~ applicable law to be given in anothen manner. (a) any notice to
Borrower provided for in this Mort~ta¢e shall be given hy mailing such notice by certified mail addressed to Bormwer at
the Property Address ot at such other addres~ as Borrower mav decignate by notice to I.ender as provided herein, and
fbl any notice to Lender shall he given hy cer~ified mail. return receipt reyuccted. to L ender s addresc s~a~ed herein or to
Such other addrcss as Lender may de~i¢nate b~• nMire ti~ Borrower as pro.•ided herein. Any notice provided for in this
Mortgage shall be deemed to havc t+ecn g~ven to Borrower or I.ender when given in the manner designaled "hertin.
15. Unifonn Mort~a~e: Corernin~ Iaw; Se.erability. Thic (orm of mortgage combines uniform covenants for national
use and non-uniform covenantc with IimiteJ variationc h}• juricJiction to constitute a uniform security instrument eovering
nal property_ This Mortgage shall be governed h~ the law c,f the junsdiction in which the Property is located. In the
event ~hat any provision or clauct of thic MoAgage ~~r ~he Nc.te conflicts with applicable law, such conflict shal) not affect
other prov~sions of this Mongage or Ihe N~te wh~ch can be given eficct without the conflicling provision, and to`,this
end the provisions of the Mortgage and the Note arc declared to tx uverable.
16. dorrowe~'s Copy. Borrow•er ch~ll be furnnhed a conformed copy of the Note and of this Mortgage at the time
of execution or after recorda~ion hercof.
17. Traasfer ot tbe F~opertv: Assumpiion. If all or any pan of the Pmperty or an intercst therein ic sold or tnnsferred
by Borrower. wi~hout [.ender's prior wr~i~.•n ~oncen~. e~cluding lal Ihe creation of a lien or encombrance subordinate to
this Mortgage. (b) ~he creauon o( a pur~ha~ mrnre cecurily mtercsl for household appliances, (cl a trancfer hy devix.
descent or by operation of law upon the Jcath ~( :, j~an~ ~enant or (dl the gnnt of any leasehold intercst of /hrcc ycars or kss
nol containing an option to purchase, l.ender ma~~, a~ I.ender i apt~on, declare all ~he sums secured by this Mortgage to be
immed~ately due and p~yahle. l_rnder ~hall h~:e M,~~vcd such opbon to a:•crlerate if. prior to the cale or transfer. [_ender
~nd the person to whom the Pro~xrty i. t~. 1x .i~IJ rr ~rans(erred reach agrerment in writing that the credit ~f cuch percon
is satisfactory• to [.ender and that the in~err.~ pa}able t~n the sums secured by ~his Mortgage shall be at.such rate ac I_ender
shall request. 1t Lender has waived the ~p~~on to accelerate pro~ided in this paragraph 17, and if Borrower'~ wccasor in
interat hac executed a w•ntten assumpiion :+greement accepted in writing by I.ender. Lender shal) rdease Borrower from all
obligations under th~s Mortgage and ~hc Note.
If Lender exercises such op~~on to ac~eterate. I.enJer chall mail Borrower notiee of accelera~ion in acrnrdancc N iih
paragraph 14 hereof. Such notice chall prov~de a pericxl of no~ less than 30 days from ~he date Ihe notice is mailed wi~hin
which Borrower m~y pay the sumc declared due I( Bonower fails to pay such sums prior to the expiration of wch per~c~d.
Lende~ may. withuut funher notice or dcmand on Horrower_ invoke any remedia permit~ed by paragraph IR hercof.
Norv-UHtFOarH CovEN~NTS. Borrower and Lender further covenant and aaree u follows: -
18. Acceler~lion; Remedies. Excep as provided is ps~npl~ 17 bereo/. ~rpon Sorrowers 6rexM of iny corenast or
a~reemcnt ot dorrower in Ihis Mortga~e. lncludin~ Ihe torenanls lo pay whew due any soms secured by this Mo~i~aRe, i.ende~
prbr lo accekrstbn shall mail notice to Borrowe~ as prorided in para~raph 14 bereot specitrins: (1) tbe brc~ch:121 the sctbn
rtquired to core such bresch; (J) a date. not kss Ihan 30 days fmm the date Ihe notke Ls miikd to Eorror.er. ~~.Akh sucM
b~cacb mwt be cnrod: and (4) Ihst tailure to cere snch bresch oa or betore tbe dNe speci6ed in the notkc ~nay resWt iw
sccekratioa ot Ise snms secund by th~s MortRa~e. torecbsure br judkid proceedhe~ snd sde of tbe Praperry. Thc eotice
shall turtlier intorn~ eorrower of tbe riRht to reiwstatc aflcr aecckrstbn and tl~e ~At to asscA in Ibe toreclosnre poceedl~
t~ee aontsisienct ot a detiuM or sny other de(ence ot dorroaer fo ~ecekratbn snd forecbsurt. It Ihe breacb is not enred ow
or before the dale specified in the notice. Lender ~I I.ender's oplio~ ~ declm all ot the se~us ~rsd by this MortR~e to be
immediately due and payable r.ithnul /uAher dem~nd ~nA msy forecbst thk Mo~a~e by jodicid proeeedinR. I.ender shaN
be entitkd lo coUeet in snch proecedir~ all e:penses ot toreclosurc. Intlndin~. ent ~of Iimlted to. rcasonsbk su.,rnrv's fees.
and eosls ot doe~n~eMary evidence. abstrac~s ind 1i11e repoAs.
19. Eonowers Ri~bt to Reinstste. Nolwith~tandin~t I ender's accelerat~on of the sums ucured by ~h~s Mortgage.
Borrower shall havt Ihe rigM ~o have am prcxerdin~c tx'~~n b~ Lender lo enforct 1h~s M~rtgagc d~scontinueJ al an} timt
a~x 346 pb~E 46?
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