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I undrr's wnucn ag~cemcnt rnr appl~rahle luw. Eiorn~we~ shall pay Ihc amuunt ~-t all munKagr incurancc prcmiums in the
manorr p~uv~Jc~l undc~ psraR~aph 2 herco(.
Any am~~un~~ di~hu~sc~l by i.cnJrr pur~ua~t tu ihis pan~graph 7. w~ih ui~r« ~~ ihrreun. chall F+ca~mc addilional
i~idchicdnrc~ uf Borruwr~ kcunrd hy ~h~. Nurigagc t'nlc.~ B~xmNCr anJ 1 rn~lcr ag~rr to other tcrtm ~~( paymcnt, tuch
ami~i:m~ ~hall hc p:~-•ahlc u~x-n natir~ (n,m 1 rnder tu Burtuwrr « yueving p:iymr~l IhcrcuL and ~haii tmar inlcrcct ~mm the
da~e ot di~hurcrmcnt at ~hc ratc payahlc fr~-m timc 1~~ t~me ~~n outuanding principal unde~ ~he Note unlecc payment ot
interect at such rate would be conlrarv ~o applicable law, in vvhirh event ~uch am~unti shall txar interrcl at the highest rate
{xrmissible under applicable law. Nuthing containcJ ~n thia paragraph 7~hall reyuire 1 ender to incur any expcnse or take
any aclion hereuoder.
S. laspection. I.ender may makr or cauu t~~ he m:~Je reaconable rn~ri~c u~n :~nd inspections of the Property. provided
thal l.ender shall give Borrov-er notire pri~~r ~~. any ~uch inc~xcUuo apecifying reasonabk cause therctor related to I~nder's
~nleresl in the Property.
9. Cowdemastbn. The praceedc of any aw~~d or claim tor damages, dircet or co~nequential, in conr~eMion with aey
condemnation or othe~ taking of Ihe P~operty, or pan thercof, or for conveyance i~ lieu of condemnation, are hettby sssianed
and shall be paid to Le~r. ~~ ' ~+~
in the event of a total taking ot the Proper~y. the proceeds chall bo applied to the sums securcd by this Mort6aae,
with the excess, if any, paid to Borrower. ln the event of a partial taking of the Property, unlecc Borrowe~ a~d I.ender
otherwise agrct in wriling. therc shall be applied to ~he cums securcd by this Mongage cuch proportion of the proca.`ds
as is equal to that prapoAion which ~he ami~unt o( Ihc sumc ucured by this Mortgage immediately prior to the date of
taking bears to the fair ~r,arket value of ~he Pmpcr~y immediately prior ta the datc of ~aking, vrith the balance ot the proceeds
paid to Borrower_ '
If the Property ic abandoneJ by Borrov-•er. or if afler notict hy [.end~r to Borrovrer that the condemnor offus to mate
~n award or setNe a c!aim tor d~m~ces. Borrnwer (:~~h ~a re~pond to l.ender within iQ days after the date such notice is
mailed. I~nder ic authorized to collec~ and apply ihe proceeds. at 1_ender'~ option. either to resturation o~ rcpair of the
Property or to Q~t sum~ ~ccured h~• thic 11i~r~~agc
Unlesc l.ender and Borrowrr otherwice agree in u~rit~ne. any cuch application of prc~cetds to principa) shall not extend
or pcxlpont the due date ot the monthlv inslallmen~s referred to in paragraphc 1 and 2 hereof or change the amount of
such installmcntc.
10. Borrower Not Released. Extension.of thc timc for ~ayment ~~r modi6cation of amortization of the sums secured
by this Martgage granted by I.ender 1o any cuccecsor in interect of Borrower ~hall no~ operate to rclease. in any manner,
the liability of the original Borrower and Bc~rrower'c succescorc in interest. I.ender shall not be requi:ed to commence
proceedings against such successor or refuse to ertenJ lime for payme~t or othenvice modify amortizahon of thr wms
u.ured by this Morigage hy rcasat of any demand made by the orieinal Horrower and Borrow•er's succescors in iMCre~l.
' 11. Forbeannce by I.ender Not a Wdv~~. Any (~rhearance by l.ender in etiercicing any right or remedy htreunder, or
othenvise afiordeci hy applicahle law_ shall not tx a waiver ot or preclude the excrciu ot any such right or temedy_
The proairement of insurance nr the payment oi taties or other liens or charges by I.ender shall not be a waiver of Lender's
right to accelera~e ~he maturity of the indehtedness secured hy thic MortgaRe.
12. Remedies Comulatire. All rcmedies provided in thic Mortgage arc distinct :,nd cumulative to any o~her right or
remedy under this Mortgage or aHorded hy law or equity, and may be exerciced concurrtntly. independently or succeaively.
' 13. Srccessors and AssiRss dound:.Joinl and Sere~al I.isMlity; Captbns 'lhe covenan~s and agreements hercin
con~ained shall bind, and the riRhts hereunder shall inure to: the respective successort and assigns of I_ender ar-d Borrower.
subject to ~he provision~ of paragraph 17 hereof_ All covenanls and agreemen~c of Borrower shali be joiry and seve~al_
'Tl~e captions and headings of the paragraphc of ~hic Mortgage are for c~nvenience only and are not to be uced to
interprct or define the provisions hcreof.
14. NMice. Except for any notice required under applicable law to t~e given in another manner. (a) any notice to
Borrow~er provided (or in this Morlga¢e thall tx given by mailing ~uch not~ce by certified mail addresced ~o Borrower at
the Property Address or at such Wher addres~ as B~~rrower mav designate by m~~ice to T_ender as provided herein. and
(b) any notice to Lender shall tx given hy cer~ificd mail. retrirn r~ece~pt requested. to t ender's address stated herein or to
cuch other addreu as l.ender may deci¢nate b}• nntire ti~ Borr~~wer as pru~~deJ here~n. Any notice provided for in this
Mortgage shall be deemed to havc heen Ri~•en,to Bnrrc~wcr ~r 1_ender vuhen ¢iven in the manner de~ignated herein.
1S. Uni[orm MoA~s~e; Gorernin~ I.aw: Se.er~bility. Thi~ form of mongage combines uniform covenants for nationa)
uu and non-uniform covtnanlc with IimiteJ vanationt h} ~uncd~ction to constituu a uniform xcuriry instrument covering
real property. This Mortgage shall be governed h~~ the iaM of itie jurisdiction in v-hich thz Property ic located. in the
event that any provision or clause of thic Mortgage ~~r the Note conflic~s witl~ applicable law, such conflic~ shall not affect
otber provisians of ~his i-lortgage or the N~~te Khich c•rn F~e gwen efTect without ~he canflicling pmvi~ion, and to this
end the provisions of ~hc Mortgage and ~he 'Vote arc Jcclared tn tx xverahle.
16. domnwt~s Copy. Borrow•er ~hall !n furn~~hed a con(~~rmed cop~• of the Nott and of ~hic Mortgage at the time
of execution or at~er recordation hereof.
17. Tnnsfer o- flx Propertv: Accumption. If aU ~r any pan oi the Pruperty or an interest therein i~ sold or tnnsferred
by Borrower without Lender's piior wri~r.n conscn~. ercluding lal Iht creation of a lien or encumbrance suhordinate to
this Mortgage. (b) the creahon of a purch~e. mrney ~ecurity inlerest f~•r hausehold appliances, (c) a tran~fer hy devise,
descent or by o{xration o( law• upon the dealh ot a j~~~nt ten~nt or (cU the gra~t of any leaxhold intercst of lhrec ycars ~r less
not containing an option to purchase. Lender ma}•. at Lender'~ ~ption, derlasr~all ~he sums secured !+y th~s Mortgage to be
~mmediately due and payable. Lender chall h~ve N:nved such optiort to a~crlerate if. prior to the eale or transfer. Lender
and the pe~son to whom the Proper~y i. ~~. bc .oIJ ~r trans(errcd reach agrc.•ment in wnt~ng that the cred~~ ~~f ~uch pcrcon
is satisfactory to I.enJer and Ihat ~he in~crr.~ pa~~able on the sums secured by this Morlgage sh~ll be at soch ra~e ac I.ender
shall reques~. If I.ender has waived tbe op~~on to acceler~te provided ~n this paragraph 17, and if Borrower's ~vrceswr in
interest hac executed a wntten assump~~on agrcement accepted in writ~ng by l.en3er. Lende~ shall releau Borrower frorn all
obligat~ons under this Mor~gage and the Note.
If l.ender eaercius such opt~on a. ac~eier•rte. I.enJer tihail mail Borrow•er notice ot accclera~~on in accordan« ~ith
paragraph 14 hereof. Such notice ~hall provide a period of not less than 30 days (rom ~he date the notice is mailed Xithin
which Borrower may pay the sumc declared due If Borrower fails to pay such sums prior to the expirat~on ~f ~uch penod.
l~nder may, withuut turlher no~ice or iicmand on liorrower. ~nvoke any remedies permitted by paragnph IR herc~f_
NON-(1NIFORM COVENANTS Borrower and Lender furthcr covenant and agree u follows:
18. Acceknlbn; Remedia. Except as prorfded ia para~npb 1~ bereo~, rpoe iorror-ers M~cacA ot any co•enset or
qreemest of eorro~+er in tbis MorlRa~e. includinR Ibe corcnsMs to psy wAen due sny wms secared by thfs Mor1R~e. I.ender
prbr lo sccekntba shall mafl notice to dorro~+er as provided la psrs=raph 14 htreot spccNriu~: (1) Ihe brc~ch: f211Ae sclbw
rcq~ired to cere soch breacb; 13) a dste. not less than 30 days trom the date the notice is mdkd !o dorrowrr. by whkh wc\
p~each mwt be cored: uid (I) lhst failurr lo c~re srch breach ow or betore Ihe date specified in the notke msy resdl 1w
sccekration ot tbe sams secured by this Mort~aRe. fo~ecbs~rt ey j~dkial proctedi~ snd sak o/ Ibe ProPcrry. 'iUe notke
shall furtber infonn Eorrower of Ibe niRbt to reiestate sfter sccekrstba and the ri~b1 to aseert in tbe toreclosrro ~oceedY~
tbe aon-e:istcoce o( a detauk or any Whtr de(euse o/ 6oROwer to ~ccekrstion aad toreclosore. 1( Ibe bre~cb ts not cer+ea ow
or be(ore the date specitKd iw Ihe notice, t~nder al I.ender's optioA rway decla~e ~M o1 ~Ae s~a~s sec~red M~ thb MortRaRe fo be
i~nenedi~ltly doe and pty~ble witlaut f~rther dtm~nd ~nd msy foreclost Mls Moet~a~e by judkW proceeAiwR. I.ender shaN
be estided to colltet M sntb Procctdi~ sp e:penses of toreclos~rt. Inclndi~. ent wot Iimilcd lo. nasonaele au•~rn~v's fees.
aad costs o1 doc~~se~fary evideace. abstrac~s ind ~i~k reports.
19. dorror-els Ri~ht to Reinstste. '`otw~Ih~tend~n} 1 enJer's acctlerat~on ot ~ht sume ~ecured by ~h~s Mongage.
Borrower shall havt the nght to have an} pnxe~dmc• tx'~~n b~ Lender u~ en(~rct th~- M~•rigaqe dnc~~ntinued at ~n} t~mt
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