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t.enJer's w•nttcn agreemc~t or appl~cable law. Borrower shall pay the amount o[ all mortgage ins~rance prcmiums in the
ma~ner provided ur.der paragraph 2 hereof.
Any amou~ts dichu~ud by I.ender pur+uant ta this parag~aph 7, with intercst thcreon, shal) becomc additional
in.lrh~ednesc of Borrower seeured by thic Mangage llnlecc Barrower and l.ender agree to othe~ tertns ot payme~~, sueh
amouMc chall he payahle u~x~n n~~tice from I.ender to Bormwrr reyueuing payment there~f, and chall hea~ interest from the
datc ~~t disbursement at ~he rate payahle fmm time ro time on oulstanding principa) under the Note unless payment of
interc~~ at such rate w•ould be conlrar~• to applicable law, m which event cuch amounts shall bear interest at the highest nte
permissible under applicable law. Nothing con~ained in thic parag~aph 7~hall require i_ender to incur any expense or take
any ~ction hcreu~dc~:
8. lospection. 1 rnder may make or cai~sr to be made rea~onable entriec upon and inspeclions of the Property, provided
th~~ LenJe~ shall gi~~e Borrower notice prior to ;iny u~ch incExction specifying rcasonable cause theretor related to 1_ender's
~ntcr~ct in Ihc Pmperty.
9. Condemnatbn. Thc pr~kccd~ uf any ;~ward o~ claim for damaecs, dircc~ or con~equcntial, in conn~ction with any
rondemn~tion ~~r other taking of ~he Property, or part thereot, or f~~r ronvcy~ance in lieu of condemnation, are hereby ~scigned
anJ chall t+c paid to I_ender.
In ~he erent of a total laking of the Pro~xrty. ~he pr~keeJs chall he applieJ to the cums ucured by this Mortgage,
with the e~re~c. if any. paid to Borrower. In ~he evcn~ of ~ partial ~aking o( the Properly. ~mle~c Borrow•er and I_ender
~aherW i~c agree in wriling. Ihrre shall he applied to the ~umc serureJ hy ~h~s Mortgage ~uch proporlion o( the proceeds
as ic e4ua1 to that pmEx~rtinn which the ami.unt ot ~he sum. .erured by thic 1lortgage immediatel)~ prior to the datt of
taking hcarc to the fair market value af the ProFxrty~ immcdiatel~• prinr to 1he date of ~aking. wi~h the balance of the proceeds
paid t~. Bormwer.
lf the Pmpert~~ i~ abandoned h~• B~rro~rer. .,r if af~er n~tice hy I.ender to Bormwer Ihat the condemnor oBers to make
an awani ~~r ~et~le a claim [or dam;~~;e., B~~rrower fail, t~~ reti~x~nd t~ t enJer wi~hin in da}•s af~er the date tuch notice is
ma~IeJ. 1_ender i~ authori~ed ta collect and appl~~ the proceeds, at t.ender's option. either to restoration or rcpair of the
Pn,~xn~~ c,r t~, the tium..ccurcd by ~his Mortgagc
Unles~ I.enJer and Borrower otherwi~r agree i~ wrilin~, am• cuch application af procetdt to principa) shall not extend
ur M~~~Ex~ne ~hc duc date of the monthl~ installmensc refcrrcd to in paragraph~ 1 and 2 hereof or change the amount of
.uch inclallmentc.
10. ~orroNer Not Releaud. Erten~ion of the hme for payment or mc~dification of amorti~ation af the sums ucured
h}• th~. 111~•rtEage granted M• I.ender t~ any cucce~cur in intere+t ot Borrower ~hall not operate to release, in any manner,
thr liahili~~• ~.f the orieinal Bormwer and Bi~rroaer'ti surccc~or. in imerect. i_ender thall noi be required to commence
pru.cCJing~ agamct tiuch ~uccecsor or re(uce t~ c~tend time for payment or otherv-•i~e modify amortization of the sums
~e~ urrd ht• thic Mortgage h~ rea«~n of ~m• demand made b~ Ihe orie~nal Borrow•er and Borrower s succes~ors in interest.
I 1. Forbear~nce by I.ender ?~ot a V1'ai~•er. Any fnrhearanrc h~• 1 rnder in e~ercicing an}• right or remedy hereunder. or
~~therw•~.r afT~.rdeJ M~ applicahle law. chall n~t he a waive~ ~f or preclude - ~he e+cercise of an}• wch tight or _ remedy.
Thr pnxurrmcnt of insurancc or thc prymcnt ~.f tarc~ or ~~ther lient .~r rhargrc bg Lcnder tihall not be a waiver of Lender's
righl 1~~ ~c:~lrratc Ihc mat!~rity o( thc indeMrdnr« ~ccurcJ h~• thi~ Morlgage.
12. Remediec ('umulative. All remeciies ~+m~ idrd in thi~ ~turtgage ~rc distinct and cumulative to any olhtr right or
reme~i~~ under thi. ~1~~rtgage or affi~rd~d h~• laH ~~r rywt~. anJ m:,}• be etierriceJ c~ncurrenNy, independentl~• ~r succetsively.
1~. Succecwr~ and AssiRn~ Bo~~nd; Joint and Se~ er~l [.iabilih•; ('aptions. The covenants and agreemeots herein
cc~ntamr.l ehall hind. and thr rieht~ herrunder tihall mnre 10. the re.periive succe.tor~ and atsigns of Lender and Borrower.
.~~bject tu ~hr prc~ci~ion~ ~f paragraph 17 hereof All r~~.~rnants snd agreementc of Borrower ~hall he joint and uveral.
Thc ~aF~twn~ :~n~i heaJing~ .~f the para~raphc ~f thi~ 1i~rtgage are f~~r c~~nvcnience onl~~ and are nM to be used to
mtcrpr~~ i,r dcfinc thc pro~~icicin~ hereof.
14. Volice. Exrep~ fc.r any not~re reyuirrJ un~er applicaMr la~ t~• be Fiven in another manner. fal any notic~ to
Burr~~Krr pr~~vided fi~r m tfii~ ~ii~rtga~e ~hall tx g~~~cn h~ mailin~ ~urh nuhce h}• certified mail addrrsccd to Borrow•er at
~hr Pre~pert~• Addre:~ or at .urh ~~thcr aJdre.. ac R~~rr~~wrr ma~ de~ignate hy nu~ice t~~ I ender as pmvided herein. and
fhl am not~ce ta LenJer shall he c~~en h} certi~cd ma~l. rrtum rece~pt reyue~ted. t~~ 1 ender'~ ad:lretc stated herein ~r to
~urh ~~thrr addrecs ac I.ender ma~ d~~iqnate h~~ n~ti~~ t~~ R~.rr~~wer as pm~•ideJ here~n. Am~ notice provided tor in thic
~t;~rtgagr sh:-11 Fxr dcemed a~ h.i~r bcen k~vrn t.~ Bc.rr~~wrr i~r 1 rnder ~hcn g~ven in the manner desiRnatcd herein.
15. ('niform ~toriRa~r. Cm~ernin~ I_aw; Se~erabilih. Thi. f~~rm of mortgage rnmbines uniform covenantr f~x national
u.e and n~~n-unifurm cr~enant~ Hith limitr.l tiar~an~~n, h~ ~un.~hiti~.n t~~ constitute a uniform Security inctrument rnvering
rral propern Th~. !~lorti~ge ~hall Fk Eu~rrned h~ th~ I~w ~f thr iuriulich~~n in which the ProF-ertt~ is iocated. In the
~vent ~hat :~n~• pmvisi~~n ~,r .iau~r of Ihi, A1~~rtgagr ~~r Ihr 1„te c~~nflich ~aith applicabfe lav-•. such ronflict tihall ~M a(fect
~~Ihrr pnni~i~~m ~~f th~~ ~t~rtgage ~~r 1he ti~~t~ wh~ch ~.,n hc g~vcn ellect Hithnut Ihe conflirting pm~•icion. and to ihis
end the pn~~itiium ~~f ~hc \lortgagr and th~ \~~t~ arc J~clared tn hc SeveraMe.
16. BOnONlf~S COP~. BOffl1K<f ~hall he furn~~he.t .~ cunf~~rmed copy ~.f the Note and c-f th~~ Mortgage at the time
uf c~cr ion c~r af~cr rra~rd~tion herec~f.
17 ~ r~nsFer of Ihe Propeti~: Atitiumplion. If all rr :,m ~.~rt of thr Pr~~pcrl~• or an interca thcrein i~ t~~ld or trancferred
h}• BorroKrr ~dh~~ut Lender's pnor verin~n c~.n~rnr. ~~~luding t,,i thr cr~ati~m ~~f a lien ar encumbranee suhorJinate to
th~. Mc.rtFage. Ih1 the creation ~f :~ purch~~~ m~~ne}~ .ecurin• mterect frr h~ucehoW appliancec. Icl a transfer b}~ devise.
de.cent i~r by operation of la~ upon the ~eath ~~f :~ jo~nt tenant ~~r (.1~ ~he grant ~f am iratehnld interest of three yearc or IeSs
m:t rontaining an option t~+ purrhase. 1_en~ler m~~•. at 1 ender'~ opa~~n, declare all ~he eumc ucured by this Mortgagt to be
immed~ately- due and payablr. I.ender shall ha~e wa~~~d wch opUon te~ accelerate if. prior ta ~he ~ale or trans.`er. I.ender
an~ the prrtion tc• whom the Propert}- i~ t~i be told ~~r transferr~d reach agreemenl in wnting that-the credil of such person
i~ saUcfactor~ to I.ender and tha~ the i~tere.t pa~•able on ~he sum~ tiecured hv thic '.11ort~age ~hall be at such rate ac [_ender
tih.,ll reyuest. if 1 enJer has w~ai~•ed the opt~~~n to accrlerate pmvided ~n this paragraph 17, and if Borrower's suceessor in
~nterest hac executrd a w•ntten assumpt~on agreement ac~epted in wriung b}• Lender, Lender ~hall releate Borrower from all
obligationc under this ;Nortg:~ge and thc N~te.
(f 1 ender erercice. ~uch ~.pii~n ~o acrelerare. 1 enJrr ~hall mail B;.rrower notice of acceleration in aceerdance w~ith
par~grapfi 14 hereof Such not~ce ~h:,ll prov~de :+ pern~J ~f nat Icsti than 30 da}•c trom the date the notice is mailed within
~hich Borruwer ma~ pa~ the wmti derlared duc. 1( B~~rm~cr (a,lc to pa~~ such .umc prior ta the expiration ~f such period.
I.enJer ma}•, v-~ith<~ut furthrr nc.tice ~~r demand ~,n Fi~,rruwer. ~mnE.e an~ remedies pecmitted by paragraph 1R hereof.
~ No~r-I~ti1FOH~t C~ri'F~1~Tti Bormwer and Lender (urther covenant and agree as follows: ~ :~
18. Acceler~~ion; Rrmedie+. F.xcept zs provided in para~raph 1? hereof. upon Borrower's breach of any corenant or
~ aqreement oi BorroNer in thiti ~1ortQaRe, includinR the co.enams lo pay wben due any sums secured by this :Nortgage, I.eeder
prior to acceleratiun tihall m~il nuticr to Borrower as prmided in parograph 14 hereof specifying: (1) Ihe breach; (2) the action ~
required to cure such breach; i3i a date. no1 less than 30 days from Ihe date the notice is mailed to Borrower. by whic6 such I
breach must be cu~ed; ~nd 14- Ibat failure to cure such breach on or before the date speci6ed in the aotice nuy nsoh in
acceleration of Ihe sums secured b~ lhis ~~ortR~qe. foreclosure b~• judicia! proceedin~ and ssle of the Property. 'Il~t notitt
shall further inform Borrower of the riRhl to reinstate after acceleration 9nd the right to acsart in the foreclosure proceeding
Ihe non-e~isleoce of a default or ao~ other defense of Borrower lo acceleration and iorecbsurc. If the bresch is aot enred on
or before Ihe date specified in the notice, t.ender at [.endcr's option may declarc all of the sums secured by Ihis Mortga~e to be
immediately due and payable without furthcr demand and may foreclose thts Mortgagt by judicial proceedin~. Ltnder sbdl
be eotitled to collect in such proceeding ~11 expenses of foreclosure, including, but not Ilmited to. reasonable attorney's fea.
and costs of documentary e~idence. abstr~c~s and ~itle reports.
19. Borrower s RiRht to Reinstate. PiotK~ithslanding l.ender'~ acceleration of the sums xcured by th~s Mortgage.
Borrower shall have the right to have an~ proceedings hegun by I.ender to enforce this Mortgage discontinued at any time
~ Addeada~ to Para~raph 1S. The slate and local lauus applicable to this mortgage shall be ~he laws o( the jurisdiction in
which the property is located. The foreQoinq sentence shall no~ limit the applicability ~f (pderal (aw to this mortgage.
~~x346 PAGE 82s
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