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l.rndrr's wril~en agrcemcn~ or appl~rable lew. l3orrower shall pay thr amount ot all mahgage incuraoce prcmiums i~ the
msnncr providcJ under paragraph 2 herco(.
Any amounts di~hu~srd by Lcn.lc~ pur.uant ~u ~his par:~graph 7, wuh intcrcs~ thereon, chall t+crnme addi~ianal
indrh~cdncsc iif Na~ruwr~ crcumd by ~hi~ M~~ngage Unle~c AorruNCr anJ 1 rnJer aRrcc to ather tetmc ot paymenl, such
amountc shall hc pa~•abk u~x-n n~~~icr ft~~m 1 rnder tu Hc~rrowrr rcyuccting payment thcrcof, apJ shall bea- inlercs! from the
dale of dicburscment at Ihc ralc payahlc (rom time to time on aotstandinR pri~cipal under thc NMe unlecc payment ot
interest at such ratc would hc contrarv ~o applicablc law, in which cvcnt zuch amounts shall t+car intercst at Ihc highest rate
permissible tmder applicablc law. Nothing ci~nt~incJ ~n thic paragraph 7 shall reyuirc I.ender ta incur any expense or talce
any action he~ou~der.
S• laspttHoo. l.ender may makc ar rauu to hc made rcacc~nabk enlriec upc~n and inspections of the Property. p~ovided
th:l l.cnder shall givc Horrawec no~~rr pri~~r ~o any ~uch inspechon speci(ying rrasanabk cause therctor rclatod to I.coder's
~Meresl in tht Pmpcrty. _
9. Co~demnatbw. Thc proceedc of any awa~d or claim tor damages, dircc~ or consequential. in rnnnecticm wilh any
condemnatiw~ or othe~ laking ot the Property, or part the~eof, o~ tbr conveyance in lieu of condemnation, are hereby assignod
and shall be paid to Lender. .
ln Ihe event of a total taking of the Properly. the procceds chall be applied to ~he sums secured by this Mott~aae,
with the excess, if any, paid to Borrowe~. In the event ot a partial tal:ing af ;he Property, onlesc Borrower and I.ender
o~he-w~se agroe in writing. Iherc shall t~e applied to Iht sums securcd by this Mortgage such proportion ot tht prooeeds
as is equal to that prapohioo w•hich ~he amount a( ~he sumc xcurcd by this Mortgage immediately prior to the date of
laking bean to the fair market valuc of Ihc Pruperty immediately prior ta the date of Iaking, with the balance of the proceeds
paid to Bormwer.
if the Property is abandoncJ b~ Borrower. or if. :i(ter notice by l.ender to Borrower that the condemnor olfers to make
an aw~~d or xlNe a claim (or dama¢cs. Anrrower fa~l. t~. rec~nd to I.ender a•i~hin i0 days afler the date such notice is
mailed. I_ender ic authori7ed to collec! and appl~• ~he p~oceeds, at 1_ender's option. either to restontion or repair ot the
Propcr~y or to Iht cum~ ~ccured hy thi~ M~ngagc.
Unlesc l.ender and Borrower otherwi~e agree in w~rit~ng, any such appl~cation of proceeds to principal shall not extend
or poclpone the due date of the mon~hly instrtlments referred to in paragraphc 1 and 2 hercof or change the amount of
cuch installments.
10. Botrower Not Rekased. Extension of 1he time for payment or m~-dification of amortization of the sums secured
by. this Mortgage granted by l.ender to any cuccessor in interect of Borrower chall ncu apente to release, in any manoer.
the liability ot the o~igi~al Borrower and Borrower'c successnrc in intercst 1_ender shall not be rcquircd to commence
proctedings against such successo~ or refux to erlenJ time for payment or otherwice mc~dify amortizat~on of ~he sums
u:i,red by thic Mortgage by rcason of any demand made by the ori¢inal Borrower and Borrowers successors in interect.
11. Porbearance by I.ender Not a Wdver. Any forhearance hy I.endcr in exercising any right or remedy hertunder, or
otherwise affordeci by applicabk law, shall oot be a waiver of or preclude the exercise of any such right or nmody.
The procorement of insurance pr the payment of taxes or other liens or charges by [.ender xhall not be a waiver of Lender's
right to accelerate the mawrity of the indebtedness ~ecurcd hy thic Mongage. .
12. Remedies ('nmulathe. AI! rcmedies provided in this Mortgage arc dis~inct and cumulative to .ny other ri6ht or
remedy unde~ this Mortgage or afiordcd hy law or equiry. •rnd may be exerciud concurrcnfly. indeper+denNy or successively.
~ 13• Srceessors snd Assi~~s eoued; Jdal and Sereral ~LM7iry; Captbns. The covenants and ag~eements hercin
co~tained shall hind, and Ihe riRhts hereunder shall inurc to. the respec~ive succcsson and assigns of I.ender at~d Borrower.
subject to the provisionc of paragraph 17 hereof, All covenants and agreementc of Borrower shall be joiry and sevenl.
The captions and headings of the paragraphc c~f Ihis Mortgage are (or convenience only and are not to be u~ed to
interpret or deRne the provisions here~+f.
11. Notke. Except for any nMice rcquircd under applicabte law to be given in another manner. (a) any notice to
Borrower pr+nvided for in this Mortga¢e shall be giv~n hy mailing such notice by cer~ified mail addresscd to Bo~rower at
Ihe PropeAy Address or at such dhcr addresc as Borrower mav decignate by notice ~o I.ender as provided herei~, and
(b) any notice to Lender shall he given by certificd mail. return rece~pt rcqu«~ed. to t ender s address stated hercin or to
such other address as Lender may decignate by nc.tice ~o Borr~~wer as prov~deJ herc~n. /-ny notice preivided for in this
Mongage shall be deemed to have been grven ta Bc-rrower or I ender when given in 1he manner designated herein_
1S. U~i(orw~ Mort~a~e; Gorerniu~ I.arr; Serenbilitv. This form of mortgage combines uniform covenants for national
use and non-unif~rm covenantc with IimiteJ variaticxic hy juricd~clion to constitute a uniform s~curity instrumenl eoverins
rcal propeny. This Mortgage shall be governed hv ~he law of tht juriuiic~ian in which the Property is located. In the
event that any provision or claust of ~hic Mortga¢e ~•r ~1ie Note conflicts with applicabk law, such conflict shall not aRect
olher provisions of Ihis Mortgage or Ihe N~~tr which can I+e given eHect wi~hout the conflicting pmvicion, and to this
end the provisions o( the Mortgage and the Note are ~kclared to be severable_
16. Eorrower's Copr. Borrower shall be turniched a conformed copy ot the Nole and of this Mortgage at the time
of execution or aNer recordation herrnf.
17. Trsssfe~ ot tbe TropMv: Assumpliow. It all or any part of the Property or an interest therein ic sold or transterrcd
by Horrower wi~hout I.ender's prior wn~i.n «inun~_ excluding (al the crcation of a lien or encumbrance subordinate to
this Mortgagt. (b) the creation o( a purcha~r monevi cecurity mterest (or houxhold appliantes, (e) a Irancter hy devise,
descent or by opcration of law opon the Jca~h of a j~»n~ tenant or iJ- ~ht grant of any Itasehald intercst of thrcc ycars o~ kss
not containing an option to purchase. I.ender may, a~ I.e~der'e opluxi, declare all the sums secured by Ihis Martgage to bt
immed~ately due and payable. Lender ~hall have w,uvad such option ~o accrlrratt it, prior to the cak or transter. Lendtr
and the pe~son to whom the Properly ic t~+ be .ol.l ~~r trans(erred reach agrerment in writing that the credit of ~uch person
is satisfactory to I.eoJer and tha~ ihe interc.i payable an the sums cecured by this Mortgage shall be at s~~ch ratt ac 1_ender
shall rcquesl. If Lender has waived ~hc op~ion ta accelerate providcd in this paragraph 17, and if Borrower'a ~uccasor in
interest has eaecutcd a written assump~ion aRrcemem accepted in wriung by I.ender, [.ender shall releace Borrower trom all
obligat~ons under this Mortgage and the Note.
If I_ender ezercises such opt~on 1~ accelerate. I.enJer chall mail Borrower notict o( accelention in acrnrdancc w ith
paragraph 14 hereof_ Such nc~ice chall prov~de a period o( not less Ihan 30 days lrom ~he date the notice is mailed wi~hin
which Borrower may pay 1he sumc declared due. I( Borrower tails to pay such sums prior to the expiration of cuch pericd,
Lender may, without furtF~er notice ~r cicmand on Horrower. mvoke any remedia permiued by paragraph 1R hercof.
NON-UNIFORM COVfNANTS Bo~rower and I_ender further corenant and aErce u follows:
la. Accek~iow; Remedks. Ezcept as provlded i~ ra~raph 1~ be~eol. ~ Son~owe~s brcac~ ot u~r co•e~awl ot
a~reeme~t of eorrower in this Mort~aRe. includie~ t~e co~ewaMs lo psy ~+bew dre ~ny snu~s sec~rcd by tl~ts Mo:tRs~e. l.t~der
prbr lo accekntba shall mail notke to dorrower as provided in pars~rsph 14 Ae~eot specNylu~: (1) fAe bre~cA: /21 tAe actbw
r+equlred to cnre snch brrsch;l3) a dste. not ks thaa 30 days trom the date the notke b msped fo eonower. br whkh src~
beacb must be cnred: sad (~) IAsf taflrre lo c~re srcb bresca os or before 1he date speclfied i~ tbe notke ~nay res~lf i~
accekration of Ibe sann secund by lhis MoM~aRe. forecbwre by judicial ~wceedi~ and sak o/ thc Properiy. 7?~e notke
shal! tuvther inform dorrower ot the riR1N to relestate st~er sccekrstbn snd tbe riRht lo as~e~l is tAt /ortclosYre ~roceedi~
tbe non-existence ot ~ dttauN or anr othtr dctense ot dorrowe- !o ~ccckrstbn awd toreclose~+e. 1[ tAe OttacA k not coee~ o~
or before the date speciBed ia the notice. t.ende~ a~ I.ender's ~1ioa ~ deelare ~p d tbe s~ns ~enred by tl~is MoARaRe M be
i~nmediately due and pay~We ~-ithout turtber demand ~nd ~nsy (oreclost Mis Mortsa~e by jadicW rroeeedin~. I.en~ler chall
be totitled to collect in wcl~ proceedin~ a11 eapenses o( (oreclosurc. inclndiu~, brt wot dmiled to, rtasonabk d1~~rnrv's ftes,
~nd costs ot doc~n~ewlary e~ldence. abstrscls ~nd Ii1k nports.
19. sorrower's Ri~ht to Reiastste. Notwithtira~ding 1 enders acceleraaon of the sumti secured by th~s Mongage.
Borrower shall have tht nghl to have any ptcxe~Jin~c br~~~n by Lendtr to en/orct thu Mongage d~sconlmued at an} hmt
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e~;ox 346 P~cE 523
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