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I.cndcr'c wriuc~ agncmcnt ar appl~cablc law. Horrawe~ shall pay thc amount ot all mortgage inwrance prcmiums in Ihe
mannrr p~uv~dril undcr p~rag~aph 2 hcreof.
Any am~un~~ di~hu~~cd by I cn~lcr pur~uaM tu Ihis pa~aR~aph 7, w~~h u~~cre~t theroi~n, chall I~ccome adJ~tional
indcMrdnr» i~( Ho~rawrr ucurcd hy ih~~ Mur~~;agc Unle.~ Borrawe~ anJ 1 cnJer agree to other t~tms ~~f payment, wch
amounlc ~hall hc p~yahlc n~xm nu~icc fn+m 1 cndcr to 8~-rruwcr rcqiMC~i~g paymcnt ~hcreo{, ~od shall bear intcrett from the
date of di~burccmcnt at ~hc ratc p:~yahlc from timc to ~ime i~n oulctandi~ig principal undcr Ihc Notc unlecc paymeM of
interest at such rale would Me contrarv a~ applicable law; in which event ~uch amountc chall hear inlerect at the highett rate
pe~missihle under applicable law. N~~thing c~mtained in thic paragraph 7 shall requirc I.ende~ to incur any expente o~ take
any actio~ hcrcunder.
S• laspecfion. I.enJcr may makc ~.r rau.c t~~ he mad~ rea~onabk cnlriec u~n and inspections of the Property. provided
Ihat l.ender shall give Bo~rower n~~ticr priar t~. any ~uch inspect~on specitying rcasonabk cause thetefor related to Leader's
interesl in the Property. •
9. Coodemnatbn. The prcxe~dc of any award or claim for damaga, dircc~ or conxquential, in connection with any
condemnation or dher taking of the P~openy, or pan lhercof, or for conveyance in lieu of coodemnation, are hereby assianed
a~d shall be paid to I.ender.
in Ihe event of a total taking of the Pmperty. ~he procaeds chall be applied to the sums securcd by this Mortaage.
with Ihe ezcess, if any, paid to Borrower. In ~hc eveot of a partial taking of the Propeny, unless Borrower and Leode~
olherwise agrce in wriling. therc shall he applied to the cums securcd hy this Mongags such proportion ot the proceeds
as is equat to that praportion M•hich ~he amuiinl of ~he sumc secured by this Morigage immediately prior to the date of
taking bears ta 1he fair market value of the Pm~xr~y immediately prior to the date of taking, wi~h the balance of the procetds
paid to Borrower.
If the Property i~ ahand~ned b~• Borrower. or if after notice hy l.ender to Rorrower ~hat the candemnor offets to mate
an aw•rrd or setfle a claim for dam:~~c~. Barmwer f,~l. ta re+~+ond to I.ender within t0 days afler the date such notict is
ma~led. i.ender ic aulhori~ed to collec~ anJ a~~iv ~he proceeds. at 1_ender i option, either to restontion ar rcpai~ of the
Pmper~y o~ to the cum~ ~ccured h~• Ihi~ MortRagc
Unlesc l.ender and Borrower o~henv~~e agree in w•riline. any such application of procetds to principal shal) not extend
or pe~ctpone the due date c~t Ihe monthlv irttitallmentt referred to in pa~agraphc 1 and 2 hercof or ehange ihe amount of
cuch inslallmentc.
10. EoROw~e~ Nol Releised. Extencion of the time tor payment or me~di6cation of amortization of the sums soeurcd
by thic MortRage granted by I.enJer to any cuccecsor in interett o( Borrower chall no~ opente to rcleau, in any manner.
the liabilily of the original Borrower and &•rrower'~ succescorc in interest I.ender shall not be rcquired to commence
proceedings against such successor or rcfux to ertenJ ~ime far paym~nt o~ otherwice modify amortizat~on of thr eums
acured by thic Mortgage hy rcacon of ~ny demand made by ~he ori¢inal liorrnwer and B~rrower s saecessors in iMerect.
11. Forbesrance by l.ender Nof a Wdve~. Any torhearance by I.ender in etercicinR any ~ight or remedy hercunder, or
otherwise afforded by applicahle law. shall nc-1 t~e a waiver of or preclude ~he exercise of any such right or rcmedy.
The procurement of insurance or the payment of taxes or olher liens or chargec by I.ender chall not tx a waiver of Lender's
right to accelerate Ihe maturity of the indehtednecs cecorcd hy thic Morlgage.
12. Remedies Cumulati~e. All rcmedies provided in this 11~ortgage are distinct and cumulative to any othe~ right or
remeJy under this Mortgage ar aBorded by law or equi~y. and may be exercised rnncurrcntly, independently or succeuively.
~ 13. Snecessors and AssiRss Bound; JoiM snd Sereral I.isM'lif}~; Csptbns. The covenants and agreements herein
contained shall bind, and the riRhtx hereund~r shall inare to. the rcspective succnu+rc and assigns of Lender apd Borrower.
subject to ~he provisionc o( paragraph 17 hereof. All covenants and agreementti of Borrower shall be joinl and sevenl.
The captions and heading~ of ~he paraRraphc ~f thic Mortgage are for convenience only and are not to be used to
interpret or define thc provicions hereof. .~
14. Notke. Except for any notice reqi~ired unckr applicable law to be given in another manner, (a) any notice to
Bo~rawer provided far ~n this Morlga¢e chall be given by mailing ~uch notice by certifled mail addressed to Borrower at
tht PropeAy Address.or at such other addrec. as Borr~wer mav det~gnate by noiice to i.ender as provided hertin, and
(F+) any notice to Lender shall he givcn hy cer~ifieJ ma~l. retum receipt requcsted. ~o I e~der s addrets s~ated herein or to
~uch other addrest as l.ender may de~i¢nate M~ n~tice ti- Bormwer as prov~dsd herein. Any notice provided for in this
Mortgage shall Ex deemed to havc I+een ~i~~cn ~o Borrower or I.ender when given in Ihc manner designattd herein.
IS. Unitorm Mor1R~e; Corernin~ [aw; Severabili~~~. Thic (orm of mongage combines uniform covenants for national
use and non-uniform covenantc with IimiteJ variadonc M~ juricd~ction to rnnstitule a uni(orm security instrument rnverina
rcal property. This Mor~gage shall be gaverned hv the law of the jurisdiction in which the Property is located. in the
event ~hat any provision or clauce of thi~ Mongace or the Note conHicts with applicable law, such conflict shall not affect
o~her provisions ot ~hi~ Mortgage or the Natr which c~n be gwen effect wi~hoirt the conflicting provicion, and to this
end the provisions af the Morlgagc and the Notc arc declared to hc severable.
16. Qorrower's Copy. Borrower shall bc (urni.hed a conformcd copy o( the Note and of this Mortgage at the time
of execution or a(ter recordation hereof. ~
17. Transter ot fhe Pmpeirly: Acsnmplion: It all or any part ot the Prapeny o~ an intercst thertin ic sold or transferred
by Borrower without [.ender's pnor wr~n.•~ ~~~nunt. etcluding (al tht creation of a litn or encumbranct subordinate to
this Mortgage. (bl tht creatmn o( a purch~.. m~~nev ~ecurily ~nte~est for household appliances. (c) a trancfer hy .devise.
descent or by operation of law upon Ihe Jca1h ~( ~ jiam tenan~ or (d~ the grant of any leasehold inlercst_of thrce ycars or less
not containing an op~ion to purchax. I.ender ma}. a~ I ender'e optux~, declarc all ~he sums secured by this Mortgage to be
~mmediately due and payable. 1 cnder ~hall h;,.e M,~~ved s~ich op~~on to acccleratt if. prior to Ihe wle or transfe~. Lender
and the person to whom the Pro~xrty i~ ~~~ be .aW ~~r ~ransferred reach :~grr.ment in writing that the credit of ~uch per~on
is satisfactory to I.enJer and that the imerc.~ pa~ able on tht sums ucured by this Mortgage shall be at such rale ac I.ender
shall request_ It I_ender has waived the optinn t~~ accelerete provided in this paragraph 17, and if Borrower i~uccaso~ in
interest hac executed a wn~ten assump~ion agreement accepted in wri~ing by l.emfer, l.ender shall releace Borrower (rom all
obligations under ~his Mortgage and the No~t.
I( I.ender exercises such optian t~. acceler-rte. I.enJer ~hall mail Borrower notice ot acceleration in accordenc~ Hith
paragraph 14 hereof. Such no~ice chall prov~de a pencxl of no~ kss than 30 days from the date the notice is mailed withen
which Borrower may pay the sumc declareJ due. It Borrower tails to pay soch sums prior to the expintion of ~uch penc~d.
~ender may, without fuAher no~icc or drmand on Borrower. mvoke any remediu permilled by paragraph 18 herco(.
NON-UNIFORM COVENANTS Borrower and l.ender turther covenant and agrce as (ollows:
18. Acceleration; Rcmedia. Ezcept as provWed io para~nph 1~ be-eo1. npos dorrowers breacb ot any co~eaaat or
a~reemeot ot dorrower in Ihis MortRa~e. includin~ the covenams to psy ~+hea due any sums tecured by Ihh Mort~~e, i.ender
prbr lo ~cceknfbn shdl mafl notice to Eorrovre~ as prorfded In p~ra`nph 14 hereo( speci(yins: (1) tAe bre~cA: 1211he sctbp
required to eorr such bnach;l3) s date. not less than 30 dsys trom 16e date thc notke 6 mailed to dorrower. by N~kh snc~
b~each muA be cured; ind (1) IAat failure to cd-e sncA brexb on or Sefore the date specibed i~ the nolkc rosy resWt i~
accekration ot t6e snms sccured by this MortRaRe. /orecbsun by judicid pwceedin~ ~ud sak ot /Ae Prope-ry. 71~c nolke
shall further inform dorrower ot the ~ht lo reinstste dlt- accekrstbn ~ad the ~ht lo as~erf iw tAt toreclowre ~e~oeeedi~
t6e non-e:istence ot ~ defauk or any Mher detena ot sorrowet to accektstioe snd forecbsut~t. It IAe Aresch is nof c~reA o~
or beforc the date specified in the notke, t.ender at t.ender's oplloe ruar declart sfl oI the srms seesnd by tAls MoARaRe fo be
immediattly due snd p~yable wi11MU1 tur~he- demand ~nd msy forecbse Mb Mattate ~ judkld proeetd{~. I.~ndtr aAall
be entitkd to cdlect In sucb proccedin~ all e~penses nf toreclo~err. Includf~. brt ~ot Umiled lo. reasonssk stt•,rncv's fees.
and costs ot documeatary evideece. sbstrscls and ~itk npo~ts.
19. donower's RI~At to Rtinstatc. No1w~Ih~landinK 1 tnJer's accelerat~on ot ~he sums ucured by ~h~c Mongage.
Borrower shall have ~he ngh~ to have an~ pnxe~d~nc, tx~un b~ Lcnder tc- tnf~rct th~~ A1~rtgaqc dncontmucJ at an~ hme
; . ~~,~x 346 ~~~F 54~
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