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I.cnJer't writtcn agrcemc~t or appli~able I•rvr. Borrower shail pay the amount ot all mortgage i~surance prcmiums in the
nranne~ p~uvidcd under pa~agraph 2 hereof.
Any amoimts di~hursed by I.ende~ punuan~ te~ this par~graph 7, wi~h interest thereon, xhall become additional
i~ulchtedncsc of Horrowe~ secured by ~hic Mar~gage. l'nle~. Ro~ruwrr rnJ I.enJe~ ag~ee to olhe~ terms ot paymont, such
amouMc chall he payahk u~+c~n nutirr fr~m ( enJer tu Ror~ower reyuecting payment Ihereot. and shall hear interest trom the
~la~e ot dicburcemcnt at thc rat~ payahle trom ~ime to time on outstanding p~incipal under ~he Note unless payment of
interect at such ~ate woul~l t+e conlrary to applicable law, in ~hich event a~ch amouots shall bear interest at the highest rate
permissibk under applicable law. Nothing contained m thic parag~aph 7~hall requi~e I.ender to incur any expense or take
.~ny actian hc~eu~dcr.
S. Inspeclion. 1 cnder may ma{,c ur rau.c m Ix made rcaa~nahle cn~ric~ u~-on and inspeclio~c ot the Property, provided
tha~ LenJe~ ~hall gi~~e B~~rrow•er notire prii-r to any ~uch inc~ecUun tpe~ify~ng rcaconable cause thercfo~ related !o I.ender's
mlerrcl in 1he Property.
9. Co~demnatbn. The pnKCrd~ ~~f JIl\' AMard or claim for damagec, direct i~r ce~ncequential, in connection with any
rund~mnalion ~~r olhe~ tak~n~ af thc Pr~Exrty. ~~~ par~ ~hereuf. or for c~inveyance in lieu ot condemnation, are hereby actigned
and tihall 1,~ paid to I cndcr.
ln ~he even~ of a ~otal taking of ~he Pro~xrt~~, ~he pr~xeeds chall he :~~nr~~ to Ihe aimt secured by thic Mottgage.
Nith the e~cecs. if an}~. paid to Rorr~~wer In ~he event. ~~t ~ partial taling i~t the Property, unlecc Borrower and l_ender
u~herwi.r •rgree in w•rilin~t. Ihere shall he apphrJ ~o the tium~ cecured by thic Mortgage ~uch proporlion of the procteds
ac i~ eyual to Ihat prope~rtion which thr amoun~ ~~( ~he cum. .rcured by this !~1~~rtga~ee immediately pri~r to the date of
t~k~ng bearc to the fair market value of the Pro~xrt4 immediately pri~r to the date of t•rking, wi~h the halanco of the proceeds
paid t~. Borrower.
If Ihc Pmperly i~ :~band~ncd bc Rormacr. ~r if. af~c~ n~tire hy 1 rndcr to R~rmwer that Ihe condemnor o(fers to make
an ;~ward ~~r ~etNe a claim for Jamagc.. Burrowrr (ail, t~- rr,~~nd t~ 1 ender within 10 days after the date such notice is
m:uled. Lrnder ic authori~ed ta coUect and apply ~h~ proceeds, al I.ender'c option, either to rc~toration ar rcpair of the
Pra~xrn ~~r t~ ~hc tium..rcurcd hy thi~ Mortgagc.
Unlrc. 1 ender and Bor~uNCr Mherwiu~ agree in Nritine. am• cuch application of pre-eted~ to principa) shall not extend
~+r ~~~~M.ne ihr due date c.t Ihe monthl~~ inc~allmentc referrcd to i~ pa~agraph~ 1 and 2 hereoi or change the amount of
.uch m~tallmentc. .
10. Borrower Not Releaced. Ertencion of thc t~me for payment or modificatic-n of amortization of the cumc securcd
h~• Ih~~ M~,riFagc grantcd b~- 1 cnJcr ~i. am• ~u~ce~~ur in i~tcre~t ~-f Borrower ~hall no~ ~,perate lo rclease. in any manner,
~hc hahdiiy ~~( the c~riginal Borrower .Ipd Rl~ffllN'Cf'~ succrs~urc in interect. l.ender shall no1 he required to commence
pi~kreJing~ a~~~n~t tiueh ~urreccor or refuce t~. erten~ ~imc tnr payment or othen~•ite modify amorlization ~f the sums
.cwured M thi. Mortgage hy reau~n o( ~np demand madr by thr oricinal Borre~w~er and Borrowers succecsors in interest.
11. Forbearance by Lender ?~ot a Wai~•er. Am• f~~rhearancc h~• 1 ende~ in crercising any ~ight or remedy hereunder, or
~~thrrwi~c afT~~rded h~~ applirahlc law, chall n~t tx a waiver ot i~r preclude the exercise of a~y wch right or remedy.
"ihr pnxnrrmcnt of incurancc or thr paymcnt of ~a~rti ar ~~thr~ liem ur chargec b~ i.ender Lhall not he a waiver of LendePs
ri~ht ti~ accrlrratr the maturi~j• uf thr indeM~dne.t .«urrd h}~ thi~ 4lnrtgage. .
12. Remediec Cumulalive. All remediec prn~ ~JrJ ~n thi. !~1orlgage arc distinct and cumulative to any othtr right or
rime~h ~~nJrr ~h~c Mari~r.~gr or afTordrd hy law ~~r ryuit}~. and ma~~ tx exercised concurrcntly. independently or succezsively.
13. Succe~sorc and A1SiRnc Bound; loint and Se.eral I.iabilih~; Captions. The covenants and •rgreements herein
r~~nlain~.t tihall hind. :~nd thr riqht~ hercunder ~hall mi~re te~. the re~pertive tucce.~or~ and ascignc of I.ender and Botrower.
~ubjrct t~+ thr pn.vi~i~~m ~-t paragr:~ph 17 hcrc~-f -~11 ro~~~nan~ti anJ agrecmcmc of Borrowcrshall bc joint and uveral.
The capt~.~m ,~n~l h~aihng+ of the paragr~ph~ uf Ihic Mi,ngage are for rc~nvenience only and are oot to he uud to
~ntcrpret or dtfinc thc provi~iiin~ hcrcaf.
14. \otice. E~rept for any notire rcyuircJ ~mclcr applicahlr law t~. be given in another manner. (a) any notic~ to
Burr~+w~rr pr.~v~ded f~~r ~n ~hi~ Mortea~e ~hall he gi~•rn hy mailing wch nuhce by certified mail addresced to Borrower at
~hr P~upcrt~ Addre~~ ar at ~uch other addrc~~ ac B~~rr~~uer ma~~ designatr by ~~~.tice to Lender as provided herein, and
1h1 am n~~tirr to L~nder ~hall he gicen hy certified mail. retum rece~pt reque~ted. 1~~ 1 ender'c addresa slaled herein or to
.u~h i~ther aJdrea :~t I.rndcr ma~ dc~ign~te b~~ n~~tire t~• Borr~+w•er as pro~•iJeJ herein. Any nolice prc-vided far in lhit
\tur~gagc ~h:~ll t-~ Jeenud t~~ ha~c txrn Kiv~n to B~rmHCr ~.r 1 rnder uhen g~YCn in thc manner decignate~ herein.
15. l'nifurm MnrlRaRr. Governin~ I.aw; Se~erabilih. Th~. (~•rm o( mortgage c~•mbines uniform covenantc fnr na~ional
uu ~nd non unifurm r~~~cnanic Nith limitr~l ~~an~tiun. hr ~umdirhun t~ r~~nctitute a uniform secunty i~tlr:~meM covering
mal praper~~ Th:. Metttgage ~h~ll he gavernrd hc thr IaH of thr juri~Jicti~.n in which the Property i~ located. In the
~venl th:~I an}' pruvitii~n ~~r clau~e of Ihi~ 1ltirtg~~r ~~r the \~.te ~i~n(lirt~ ~+ith applicable law, such conflict thall not afltct
~ahcr pr~~vi~ium uf Ihi~ Mortgagr ~~r thc N~~Ir ~h~~h ~an h~ gn•~n ctTect with~~ut Iht conflicling provicion, and to this
cnd Ihc ~n~~i~iun, ~~f ~he Alortgagc and Ihe \~,te arc ~Ir~L~rrd t~~ he teverable.
16. Borro~+er's Cop~. Borra~cr ~h~ll t+r furn~~he~l .~ r~+n(~~rmed ropy~ uf thc Notc and of thic Morlgage at the time
uf ctccution or ahcr rcr~.rdation hercof.
17. Transfer of fhe Property: Acsumplion. If ~I! ~~r :ui~ p:~rt c.( ~he Pro~xrty~ ur an interest ~herein ic sold or transferred
h~~ Borr~~w•rr Without l.ender's pri~~r wriuen c~~ncrn~. r+~luding la- the creati~~n of a lien or encumbranee suhorJinate to
th~~ Mortgage. (hl the creafion e~f a purcha~e inoree~• Kcurit~ interest f~r hrn~~ehold appliancec. (cl a tran~fer by devix.
Jc,rent ~~r hy .~peration of law upc~n the dea~h ~~f :i j~~int tenant or ldi ihe grant ~~f an~~ feasehold interest of three years or less
nut rontaining an uption ti. ~urchau. 1 ender may. :~1 1 rnder'. oph~~n. declare all the sumc secured hy this Mortgage to be
~mmcJ~:deh• duc and pa}•ablr. I.rnder tihall ha~r KJI~I'd tiuch aption t~ acc~lerate if, prior to thc +ale or transfer. Lcnder
an~l the peru-n to whc~m the Proper~p iti t~ be so1J or t~an~ferred reach agreement in writing thal the credit of such person
i~ s~tisfactan r~~ Len~er and Ihat the interc.t pa~ahle i~n the .cum~ ucured by ~hi~ Mortgage shall be at such rate as Lender
`hall reyuest. If 1 enJer has waiveJ the ~•ption t~ accelerate pm~ided in this paragraph 17, and if Borroweri successor in
~nterest h•r~ erecuted a wn~ten ascumpt~on agreement aceepted in writing hy Lender, I_ender shall releace"Borrower from all
.~Migauons unJer thic Mortgage and Ihe N~te. ~
It LenJer ~rercix~ tiuch ~~ptinn 1~~ accelerate_ 1 ender ~hall mail Borrov-er notice of acceleration in accordance with
par:~graph Id hereof.~ Such not~ce tihall provide a prn~~J i~f not Icss than 30 Jayc from Ihe date the notice is mailed within
which Borruv-er may pa} the ~um~ Jeclared due If Biirrower (ail~ to pa~ tuch tums prior tn Ihe expiration of wch period.
Lcnder ma}•, w~~th~~ut furthcr not~rr ~~r Jemand ~~n N~~rro~cr. ~m•olr an~ remedies permriteci b~ paragraph 1R hereof.
Nov-I~NIfOR~t ( c~~~rv~~vTC Borrower and Lender turther covenant and agree as follows:
~ 18. Acceleralion: Rrmedies. Fxcept as pro.ided in psra~raph 17 he~eof, upon SoROwer's breach ot any covenant or
~ agreement ot BorroNer in Ihis ~1ortRaRe. includin~ the co•en9nls to pay when due any sums secured by Ihis MortaaRe. Leeder
€
~ prior fo acceler~tion ~hall mail nofice fo Borrower as pro~•ided i~ p~-aRraph 14 hereof specNyin~: (1) tbe bresch; (2) t6e action
~ required to cure such breach; (3- a date. not less th~n 30 da~c trom the date the notice is mailed fo Borrower. by rrhkh sucb
breach must be rured: and 14) that failure to cure such breach on or before the date specified in the notict msy result io
~ acceleration of Ihe sums secured by this ~1ortRaRe. foreclosure by judicial proctedins and sale of the Property. 7Le aotice
S shall furthe~ inform Borrower of the ri~ht to reinstate afler acceler~ation and tfie right to assert in the foreclosurt proccediu~
~he non-exislence oi a default or an~• other defeose of Borrower to acceleration and foreclowre. If the breach is nof cured on
or before the d~te speci6ed in Ihe notice. [.ender at I.ender s option may declsrc all of the sums secured by fhis Mottaa~e to be
immediately due and payable without turther demand and msy foreclost this Mortgage by judicial Proceediua. Leader s1~aU
~ be entitled to collect in such proceeding all expenses of foreclosure. includin~. but not limited to, reasonabk ~torne~'s fees,
~ and cosfs of documentuy evidence. abstractc and titk rtporis.
19. Borrower's Riq~ht to Reinstafe. Notwiths~anding l.ender s acceleration -of the sums secured by th~s Mortgage. .
Borrower shall have the right to have an}~ proceedings- hegun by I.ender to enforce this Mortgage discontinued at any tirste
Addenda~ to Paragr~ph 15. The state and local laws appllcable to this morlgage shall be the laws o( the jurisdiction in
which Ihe property is located. The (oreqoinq sentence shall not limit the applicability o( tederal law to this morlqage.
Br~~~ 346 ParE ~•~
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