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I.e~der'c written agtcemr~t or applirable low. Bo~tower' shall pay t~e amount ot all mohgage incurance premiums in the
manncr p-uvidrd under pacaR~aph 2 hercot.
/1ny amount~ di~hurud by LrnJrr pur~uant lo Ihis patag~aph 7, wuh ~ntcrest Iherrnn, shall became additianal
indcMedncsc ~~t H~~r~owcr ~ecund by ih~~ Mungage. Unle.c Bornivver and I.rmkr agree t~ othcr terms of paymeot, sUch
amoimtc ~hall t~e payable up.~n n~~tice from I rnde~ tc~ &~rrowrr rcy~KC~ing payment ~Aereot, and shall I+ear inttrest trom the
datc af dicburscment at thc ratc payahlc tmm timc to lime on outstanding p~incipal under Ihe Note unlest payment ot
interest at such ~ate would he cantrarv to applicable law, in which event such amount: thall hear interest at the hi~hest rate
permiuibk under applicabk law. NothinR cimtained in Ihis paragnph 7 shall requirc i.cnder to incu~ any eapense o~ lake
any action hereunder.
S. las'ectio~. l.endt~ may makc or cau.c ta t+c made reau~-abk eolriet upon a~d inspections of the Property, provided
that I.eode~ shall give Borrower ncNice prior ~o any ~i~ch inspectian specitying rcawnabk cause theretor related to I.ender's
interest in the P~openy. ;
9. Co~deu~eafion. 'The proceedt of any award or claim for damages, diroct or consequential, in connoctioe with any
condemoa~ion or dher taking oi the P~operty, or pa~t thercof, or tor conveyance in lieu of condem~ation. are he~tbp sssiane~
and shall be paid to Lender.
ln the event of a total iaki~g of the Propehy, the procecds shsll be applied ta the sums securcd by this Mort6aae.
with the excess, if any, paid to Bonowe~. In the cvem of a panisl taking ot the Prop~rty. unkss Bornower and Lende~
aherwise aat~oe in writing. there shall be applied to thc sums securcd by this Mongage such proportion ot ihe proeoeds
as is equal to that propoMic-n w•hich the amounl of the sumc secured by this Morigage immediately prior to the date of
taking bears to the fair market value of ~he Praperty immedialely,prior to the date of ~aking, with the balance of the proceeds
paid to Borrower.
lf the Propt~ty is ahandoned_ by Borrower. or if. after notice by I.ende~ to Borrower that the condemnor oRen to mate
an awa~d or settle a claim for dama¢c.. Bi.rrower fail. t~ ~e~pond to I_ender within 30 days atter the date such notice is
ma~led, Lender ic authorited to collect and apply ~he proceeds. at !_ender's option, either to restoration or ~epair of the
Propeny or to the sum~ ~ccured h~• ~his Mongalre.
Unlesc :_ender and BorroNer othenvice agree in w•rihng, any such application of proceeds to principal shall ~~ot extend
or postpone the due date af the monthly installments referrcd to in pangraphc 1 and 2 hereof o~ chanae the amount of
such inslallments.
10. d~r~ower Not Rekzsed. Eztension of 1he time far payment or modification of amortization of the sums securcd
by this Mortgage gnnted by i.ender to any cuccecsor in interect of Borrower chall not opente to rctrase, in any manner.
the liability of the original Borrowe~ and Bc+rrower'c successorc in interost. 1_ender shall not be required to commtoce
proce~dings against_ such successor or rctuse to extend time for payment or othenvise modify amortizat~on of the s~~ms
secured by thic Mortgage by rcason of any demand made by the oriqinal Borrawer and. Borrower s u~ecessors in interect.
11. Forbesrance by Lender Not a Wdrer. Any f~rhearance by l.ender in exercising any right or rtmedy herc-mde~, or
othenvise aftorded by applicabk law. shall nc~t be a waiver of or precludt the exercix of any such right or remedy.
The procurement of insurance {~r the payment of taxes or other liens o- charga by [.ender shall not t~e a waiver of Lendet's
right to accelerate the ma~urity of the indebtedness sea~rcd hp this Mortgage.
12. Ren~edies Cumulathe. All rcmedia providcd in this Mortgage arc distinct and cumulative to any other right or
rcmedy undef this Mortgage or atforded hy law or equity, and may be exercised concurrently. independently or successivcly.
' 13. Srceessors and Assi~as dound; Joiat aed Se•erat i.iability: Captbns. The covenants and agreements herein
conuined shall bind, and the riRhts hercunder shall im~re to. the respective successors and assigns of Lender aod Borrower.
subject to the provisionc of paragraph 17 hereof. l~ll covcnants and agrcements of Borrower shall be janj and sevenl.
'll~e captions and headingc of the paragraphc of this Mongagc are for convenience only and arc not ta be used to
interprct or define th~ provisions hercof.
14. Notke. Except for aoy notice rcquired unckr app{icable law to be given in another manner, (a) any notice to
Borrower pr+uvided tor in this Mortga¢e shall be given by mailing such notict by certified mail addressed to Barrower at
~he PropeAy Address or at such dher addresc as Bor~nwer mav designate by no~ice to (.ender as provided herein, and
(b) any notite to Lender shall he given by certificd mail, reu~rn receipt requested. to [ ender s address stated hercin or to
such other address as Lender may deciqnate by nc-tice to Bo~rower as provided furcin. Any notice provided for io this
Mongage shall be deemed to have t+een gwen ~o Borrower or !_ender when grven in the manner designated herein.
1S. UwNorm MortRs~e; Governi~ Law: Severabilitv. This form of mottgage combines oniform covenants for national
uu and non-uniform covenantc with IimiteJ variatinm hy jorisdiclion to constit~rte a uniform security inslrument coverin6
rcal property. This Mortgage shall be Roverned hy the law• of the jurisdiction in which the Properly is located. in the
event that any provision or clause of thic Mortgagc or ~he Note conflic~s with applicabk law, such conflitt shall not alfect
other p~ovisions of this Mortgage or the Note which can be given. effect wi~hout tht conflicting provicion, and to this
end Ihe provisions of the Mortgage and the Note arc ~kclared to be severable.
16. dorrowe~'s Copy. Borrower shall t+c fiirni~hed a contormed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. Traasfer of tbe Propertv: Assumpl'an. if all or any part of ~he Property or an intercst thercin is sold or transferred
by Borrower without Lender's prior wrin. n~..nsent. excluding (al the crcation of a lien or encumbnnce subordinate to
this Mortgage. (b) the creation o( a purchace money ~ecurity interest for household appliances. (c) a trancfer hy devise.
descent or by operation ot lavv upon the Jcath of a j~•int tenant ar (dl the gran~ of any leasehold intercst of threc ycan or tess
not containing an option to purchase. Lender may. at 1_ender'c opt~on, declare all the sums secured by this Mortgage to be
immediately due and payable. [_ender chall h;,ve N.~rved such option to acc~lerote it. prior to the cak or transfer. Lender
and the person to whom the Proper~y ic ~u be colJ os transferad rcach agrcrment in writina that the c~eJit of euch percon
is satisfactory to LenJer and that the inter~.t payable on the sums secured Dy ~his Mortgage shall be at such nte ac Lender
shall request. If l_ender has waived the option ~o accelerate provided in this pangraph 17, and if Borrower i successor in
intertst hac executed a v-•rit~en assumpNon agreemcnt accepted in writing by Lender. Lender shaU release Borrower fram all
obligations under this Mortgage and the No~z.
If Lender extrciscs such opt~on a. accelerate. Lender shall mail Borrawer notice of acedention in accordancc wi~h
paragraph 14 hereof. Such notice chall providt a period ot not less than 30 days from the date the nolice is mailed wi~hin
whieh Borrower may pay the sumc declared due. If Borrower (ails to pay such sums prior to the espiration of such pericxl.
Lende~ may, without further no~ice or demand on i3orrower. mvoke any remedies permiHed by pangnph IR hereof.
NON-UNIFORM COVENANTS Borrower and Lender turther covenant and asree u follows:
ls. Accekrstion: Rernedia. Except a~ providcd iw Pa~ryA 17 I~ercol. ~pw iorrowers besc~ ot ~ay co~ens~t or
a~recme~t ot eorrower in thts MoriRa~e. iacludi~ Ihe corcaaMs /o p~y wbew dre uy sooa tecnred 6p this MortRsRe. I.eeder
prbr to ~cctkrstbn shall mail notke to doROwer as provfded tw pan~rspA 1~ herco/ specNriu~: (1) tbe brt~cA: 1211he sefbw
reqalred fo c~re soch bresch;l3) a dstc, no1 kss tAan 30 dars (rom tUe dste tbe notke b~aped fo dorro..cr. br wAkb src~
~eacb mwt be e~nd: sad (1) tbst tait~e~e to care srch brescM ow or ~etore the date speci8ed iw the notke n~ar rrcuh iw
sccelentlow ot tre srees secnrcd by tbts Mort~e. fo~re~own Y~ judicial'rocesdb~ a~ sde oE the rropc~ry. Thc nellet
sbap turtber intotm dorror.er ot tbc ri~IM to rd~te dlcr ~ccckrstio~ asd tbe ~1 1o a~eN h tUe toreclosrre /~oeeedl~
tbe son-e:islence ot s detauk or sny Mher dcfeese of dorrower to ~ecekrstbn ~ua torecloso~+e. 1( the bresc6 is sM cm~ aw
or before the date specifeed ia the notice. Lendar a~ I.ender's opbw ~ icclare ~ d tUe srws secrred br tMis MortRsRe to be
ima~edhttly due ana Payibk withoul trrther dem~nd ~nd msy toretlose tN~ Morf~att by jrAicW- ~roce~dl~R. ~.ender aA~N •.
be e~titlcd !o edleet ia wcM procecdin~ sq cxpenses of toreclowre. inclndiu~. bM ~ot Ymitcd 10. «~OIISbIt l/1~~(11lY~f FtK.
and costs ot doc~n~e~tary eNdence. abstrscls ~nd ~ilk reports.
19. ionower's Ai`hl to Reiastsle. NolwithSland~ng 1 ender's acceleral~on of ~ht sums secured by ~h~t Mortgate.
Borrower shall have Ihe nght to have am prcxerdme~ br~f~n by ltnder lo enforce thn M~rtgagt d~scontmued a~ any ume
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~a~x 34 7' PAGE 1996
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