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I.ender's written agreement or appi~cabk law. Borrower shall pay the amuunt a( all martgage incurance premiums in the
manncr providcJ unde~ paragtaph 2 hercot.
Any amounls dichursed by LenJcr pur~uant ~o ~his paragraph 7, with u~tcrea ~hcrcun, shall become additiana)
in.lrMedncsc ~if Horruw~r ~ecurcd by ~h~c Mu-Igrgc. Unle~~ Borrowcr anJ 1 rnJcr aRree to othcr termc ot paymrnl, such
am~unls ~hall hc payahlc u~~n nu~icr from 1 cnder ~u Bu~rowrr reyurtiling paymcm thcreaf. anJ ShaU b~ar, intercst trom tht
dale of dishursement at ~he rate payahle fr~~m ~ime ~~ time on outstandi~g principal unde? ~he Note ul~lecc payment o/
interest at such rate would be cantrarv to applicable law, in which event tuch amoun~s chall hear interest at the highest nte
permiuible under applicable law. N~~thing can~ained ~n thic paragraph 7 chall require I.ender to incur any eapense or take
any action hcrcunder.
S• lwspecfion. I.enJer may malc ~.r rau.c to tx made reawnablc emriec u~wn and inspections of the Praperty, provided
thal l.ender shall give &xrower nohce prior 1~~ any ~uch impecUUn ~pecifying rcasonabk cause therefor relatod to l.ender's
inte~est in the Property.
9. Condemeatbn. 'fhe prc~ceedc of any award or claim for damages. dircc~ or consequential, in rnnnection with any
condemnation or dher taking oi ~he Propeny, or pan thercof, cu fo~ conveyance i~ litu of condemnatioo, an hercby usianed
and shall be paid to Le~der. • .
Tn Ihe event of a total taking of the Pmperty, the procctds chall be applied to ~he sums sccured by fhis Mortaage.
with the excess, if any, paid lo Sorrovrer. In Ihe event af a pactial taking of the Propetly, unless Borrower and L.ender
oiherwise agret in writing. therc shal! be applied to the ~ums securcci by thic Mortgage such proportion ot the proteeds
as is equal to that proportion w•hich ~he amount o( the sums secured by this Mongage immediately prior to the date ot
taking bears to the fair marktt value of the Pm~x:r~y ~mmediately prior to the date of taking, wi~h the bala~ce of the proct~eds
paid to Bor~awer.
lf the Property ic ahandoneJ by Borrower. or if af~er notice bv I.~nder to Rormwer that the condemnor otfers to make
an award or ultle a claim for dam~ge~. Ri~rmwer ta~l. t~ re~pe-nd to 1 ender within l0 days after the dale such nc+tice is
mailcd. L_endet ic authorited to collec~ arxi apply the prc~ceedc, at I.ender'c option, either to restontion or repair of the
Property or to 1he ~um~ ~ccured hy this M~n~age. ~
Unlesc I.ender and Borrower otherwicr agree in w rit~ng, any such applica~ion of proceeds to principal shall not extend
or ~stpone Ihe due date of the monthlv installmentc reterred Io in parag~aphc 1 and 2 hereof or ehange the amount ot
~uch installments.
10. Borrower Not Rele:sed. Extension of the ~ime for payment or modiflcation of amortization of the sums securcd
by thic Mortgage granted by [ ender to any curct;u-r in intcrest of Ac-rrower ~hall not operate lo rcleau, in any manner.
the liabiliiy of the original Borrower and Bc-rrower'~ succescorc in interest l_ender shali not he rcquired to commeoce
procetdings against such sucressor o~ refuse to ertenJ time for ~+aymenl or otherwice modify amortizat~on of the ~~~ms
cecured b~ thic Mortgage hy rcason of any demand made by the ~ri¢inal Aorrower and Borrower's successorc in interect_
- 11. Forbearance 6y i.ender NM s Wdrer. Any f~thearaore hy Lender in etercising any right or remedy hereunder, or
othenvix afforded by applicafile law, shall ne~t be a waiver of or preclude ~he erercise ot any such right or rcmedy.
The procurement of insurance pr the payment of taxes or other liens or chargec by I.ender shall no~ he a waiver of Lender's
right to aecelerate th~ maturity of the indebtedness cecurcd hy thic Martgage
12. Remedies Cumulatire. All rcmedies provided in thi~ Mortgage are dis~inct and cumulative to any a~her right o~
remeJy undtr this 11lortgage.or afforded hy law or equi~y. and may he e~erc~~ed concurrcntly. independently or succeuively.
~ 13. Successors and Assi~ns eound; .loiat and S~:~rral I.iabilitq; Csptbns. The covenants and agreements herein
contained shall bind, and thr riRhts hercunder shall inure to. Ihc recpeclive succe~sorc and assigns a[ Lender at~d Bortower.
subject to the provision~ of paragraph 1~ hereof. All covenants and agreementc af Bor~ower chall be joiry and several.
The captions and hesdings of ~he paragraphc of ~hic Mortgage are for convenience only and are not to be used to
interpret or define the provicion~ hereof. •
14. Notke. Except for any naticc required under applirahle law to be given in another mann~r, (a) any notice to
Borrower provided tor in this Mortga¢e chall bt given hy mailing ~uch notice by certifted maii addrec~ed to Borrower at
the Property Addrcss or at such o~hcr addres~ as &~rmwer mav detignate by notice to Lender as pmvidtd herein, and
(Ml any notice to Lender shall he given by cenified ma~l. retum receip~ requected. to I.ender's address statrd herein or to
cuch other addrcss as i.ender may decianate M• n~ticr to Borrower as pro~ided hercin. A~y notice provided for in this
Mortgage shall he deemed to havc I+ten Riven to Bnrrowcr or l.ender when given in the manner designated herein.
15. Uniform MortRa~e: Governin~ I.aM: Se.erability~. Th~~ torm of mortgage combines uniform covenants for nationa)
usc and non-uniform co~enamc with IimiteJ variatione M ~nr+ed~ction to rnnstitute a uni(orm securiry instrument coversnE
rcal proper~y_ This Mortgage shall be govcrned hv ihe I:~w of the jurisdiction in whicb the Property is located. In the
event ~hat any provision ar cla:i~e oi thia M~rtFaec ~r the' T~~.~e confliclc wilh applicable law, such conflict shall not affecl
other provisicx~s of thic Mortgage or the N~~tr whinc ~an t+e grven efTec! wi~hout the eonflicting provicion, and to this
tnd Ihe provisions o! thr Morlgagc and the Wote arc Jccl~red to tie severable.
16. Eorr+ower's Copy. Borrower chall tx (urm~hed a c~nf~rmed copy of the Note and of this Mortgage at the time
of ezecution or af~er rernrdation herrnf_ '
17. Transfer ot the Property: Assumption. If all ~r any part of the Pmpeny or an intercst ~herein ic sold or tnnsferred
by Borrower without I_enderi pnor wrin.n ~unsent. e~cluding Ial the creation of a litn ~r encumbrance subordinate to
tNis Mortgage. (bl the creat~cx~ of a purcha.r mi~nr~• tiecurily,mtercst for household appliances. (c1 a Iransftr hv devise,
descent or by operation ot law upc~n the dcath ~:f e j~•m~ tenant or (d~ 1he grant of any leasehold interest of Ihrcc ycars or less
not containing an option to purchafe. I.endtr may, at I.ender'~ option. decl~r~ all the sums secured by this Mortgage to be
~mmediately due and payable. l.cnder thall h~.c b.~~ved tuch opt~on to :,~:rlerate if. prior to the ~ale nr transter. I.ender
and the person ~o whom thr Propeny i. ~~. tx :c.IJ c-r ~ransferred reach agrerment in writing that the credi~ of wch percon
is satisfactory to I.enJer and tha~ the intcrc.t pa~able on the sums secured by Ihis Mongagt shall be at such nte ac I.ender
shall request. If 1_ender has waived the opt~~n ta accelerate provided in ~his paragraph 17, and if Borrower'~ successor in
mterest has executed a writ~en assumption agreement accep~ed in wri~~ng by l_endt~. Lender shall reloase 6orrower from all
obligations under th~s Mortgage and the Notr.
If l.ender eaercixs such opt~on lo accelerale. l_enJer ehal) mail Borrower notice of accdera~ion in accardanc~ with
paragraph 14 hereot. Such no~ice shall prov,de a pencxi of not less than 30 days from Ihe date the no~ice is mailed within
which Borrower m~y pay tht sumc declared due • II• Borrower fa~ls to pay such sums prior to the expintion of ~uch penod.
l.ender may, w~thout further not+ce or demand on Borrower. invoke any remediu perm~lted by paragroph 1 R hercof.
NON-UNtFORM COVENANTS Borrower and l_ender funher covenant and agree u(ollows:
18. Acccleral'an: Reaiedia. Esctpl s provided ie pa~rspb 1~ hereof. r~o. so~.o..er, enKw ot a.y ~o.~~i or
at:eemeat of dorrower is this ~torl~aRt.lncludinR the co~ensnls lo psy when due sny sueas secund ~y thk MortR~e. I.ender
prior to ~ccekntbn shall mall notice Io Sorro.-er as prorided Is Para~rapA 14 hereot specUyins: (1) the MescA:121 ~~e sctbw
reyuired to coro wcb brcich;l3) s date. not less th~n 30 days from the date Ihe notke is maikd fo aorrower. br wAkh src~
b~ssch m~st be cored: aad (1) thst tailure lo c~n s~rch brescM ow or bc/ore the dNe speeWed in thc notkr may resrlt h
sccekratian ot Ibe soms secared by ~his MortRa~e. to~eclosure ~ judkisl proeeedin~ ~nd ssk ot /hc Pro~rry. 7be notke
shall further intorm Eorrower of tht ri~M lo rei~tste atler acctkrstbn and Ibe ri~bt fo assert is Ihe fortclosrr! ~oceedi~
t6c ran-exastence ot s detauN or any Mher dcfense o/ Sorro~+er to iccekntion ind toreclosore. if the bre~cM is not crred o~
or before Ihe dale speci6ed ia tbe nofice. Lcnder at [.ender's apfow iway deelarr ~N d tbe wais ucrnd br tAb MartRaRe b be
imtnediately due s~ psysAk .•ilhout furlAer demand aod ~nsr foreclos~ thk Mwt=a~e br judkW procetdin~. I.~nder chall
be tatitled lo tdktf M srtM Prottedi~ a0 e:penses nf foreclosoro. includini. but not Ymilea lo. re~sonsbk sn•~rnrvs fees.
and costs of doc~w~eMary e~idence. sbstrac~s and ~i11e reporn.
19. Samuwer's Ri~AI lo Rei~ntNe. Notwqh~t~ndin~ 1 tnder's accelerahon of the sums ucured by iMc Mort6a6e.
Borrower shall havt Ihe right to have an~ prcxe~dmc< hr~un b~ Lender 1~ tnf~rct thn M~rtgaqe dncont~nueJ at an~ bmc
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