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l_rnder's w~itten agrremcn~ or applicable Iaw. Bor~awer shall pay the amuunt ot ali mo~rgage incu~anre premiums in the
manner pr.~vidcd under paragraPh 2 hereot.
Any amounts dicbu-srd by I.~nJer pursuant tu ~his pa~agraph 7, with intcrett thercon sltiall l+ecame additional
indebtedness o[ Borrower secured by ~h~~ Mortgage. Unlecs Borruwer and I.rnJrr agrte to Mher ttrtns ol payment, such
amounts shall he payable u~x~n nutice fn,m 1 ender ~o &~rrowrr reyuecling paymrnt thercul, anJ shall tiear inttrest from the
date o( disbursement at the ratc payablc f~om time to time «n outstanding principal under the Note unless payment ot
interest at such rate would be contrarv ta applicable law, in whicl~ event such amounts shall hear interest at the highest rate
permitsible under applicablt law. N~~Ihing can~ained in Ihix parag~aph 7 shaU requirc l.ender to incur any expense or take
any action hereunder.
8. I~spection. !_ender may makc or cai~~c lo I+e made ~eaconable enlriec opon and inspections of the P~roperty. provided
that l.ender shall give Borrower nu~~~r pri,~r t~~ aoy .urh inspect~on cpec~fying reasonabk cause therefar relatod to l.ender's
interest in the Propeny.
9. Cadtmnalion. The prcueedc of a~~y au•ard or claim for damages, direcl or cons~quential, in connection with any
condemnation or other taking of the Property, or part therec~f, ar tar conveyance in lieu of condemnation, are hereby assignod
and shall be paid to Lender.
in the event of a lot~) taking of Ihe Proper~y. the proceeds ~hall be applied to the sums secured by this Mo~taage,
with the excess, if any, paid to Borrower. In ~hc event ot a pahial taking of ~he Property, unlcss Bormwer and Lender
othenvise agroe in writing. there shall be applied to the sums securcci by this Mortgage such proportion of the procoeds
as is equal to that proporlion u•hich the am~~unt ot ~he sumc ucured by this Mortgage immediately prior to the datt of
taking bears to the fair market value of the PruExr~y immediately prior to the date of talcing, with the halance of the proceeds
paid to Bor~owe~.
If the Property is abandoneJ hy B~~rroacr..~r i[. after notice hy 1 ender to Bo~rower that the candemnor otien to mate
an award or cettle a claim for dama~e~. A~~rrawer f:-~1, ta re+~nd to Lendcr vvithin 30 days af~er the date such notice is
mailed. I.ender ia authorizcd ~o rnllec~ anJ apph• ~he procecds. at Lendei s option, either to restoration or repair of the
Property or to the sum~ ~ccured h~ ~his M~ngage.
Unless t_ender and Borrower othervvice agree in writine. an}• such application of proceeds to principa) shal) not eztend
or pcxtpone the due da~e of the monthly i~~s~allmen~s referrcd to in paragraphs 1 and 2 hercof or change the amount of,
such instatlmtnts.
10. Borrower•Not Released. Extension of the time for paymen~ or modification of amortization of the sums secured
by this ~tortgage granted by l.ender ~o any ~uccecsor in intereu of Borrower ~hall not operate to rclease, in any manner.
the liability ot the original Borrower and Borrower'c succesu~ra in interest. I.ender shall not be required to eomm~nc~
prc~eedings against such successor or rcfux to er~ead time for payment or otherwi~e modity amortizat~on of thr sums
secured by this Mortgage by rcason of any demand made b~• the ori¢inal Borcower and Borrower's successors in intercct.
11. Forbeannce by I.ender NM a Waire~. Any f~rt+earance hy t.ender in ercrcising any right or remtdy hereunder, or
otherwise afforded hy app6cat+fe taw, shall not be a warver of or preciude 1ne exercise oi any ~uci~ iigFit vr ic~iWiiy.
The procurement of insurance Qr the payment of taxex or other liens or charges by t_ender shall not be a waiver of Lenders
right to accelerate the maturity of the indebtedness securcd hy thic MortgaRe.
12. Remedies Cnmulatire. All remedies provided in this Mortgage are dis~inct and cumulative to any other right or
remedy :~nder this Mortgage o~ afforded by law or equity, and may be taerciud concurrcotly. indrpendently or succestively.
' 13. S~ecesson and Assi~es Bound: .Joint ~nd Several i.isM7itsc; Captbns. The covenants and agreements hercin
contained shall bind, and the riRhts hercunder shall inure to. the respective succecsors and assigns of Lender atid Borrower.
subject to the provisions ot paragrapt 17 hereof. All covenants and agreements ot Borrower shall be joiry and sevenl.
The captions and headings of ~he paragraphs of this Mortgage are for convenience anly and arc not to be used to
interprct or define the provisions hereof.
14. NMice. Except for any notice rcquired under applicable law t.~ be given in another manner, (a) any notice to
Borrower provided for in ~his Mortga¢e shall be given by mailing such notice by certified mail addressed 1o Borrower at
the Property Address or at such othcr addresc as Borrower mav decignate by notice to I.ender as provided herein. and
(b) any notice to Lender shall he given by cer~ified mail. return rcceipt rcqoested. to I ender s address sta:td hercin or to
sucb other address as Lender may de~ignate by n~lice to Borrower as pro~~ded herein. Any no~ice provided for in this
Morlgage shall bt deemed to have t+ee~ g~.•en to Bc~rrower or t.endcr when given in ehe manner designated herein.
1S. Unitorm Mort~a~e; Governin~ Law: Se~erobilily. Thic form of mortgage combines uniform ~ovenants for national
ost and non-uniform c~venar.ts with limited varialions h~• juric.l~clion to constitute a uniform sec~irity instroment rnvering
rcal property. This Mortgage shall be Roverned hy the law• of the jurixiiction in which the Property is located. in the
event that any provision or clause of ~i~ Mortgage c•r the Note contiicts with applicable law, such conflict shall not aftect
other provisions of this Mortgage or the N~.te µhinc ~an [+e grven effcct without ~he conflicting provicion, and lo ihis
end the provisions of tt-e Mortgagc and the Note are Jeclared to !x uverab3e.
16. Eorrowe~'s Copy. Borr~~vver shall be furni.heJ ~ con(~~rmed copy of tht Note and of this Mortgage at the time
of ezecution or after recordation hereof. .
17. Transfer of !he Propertv: Assumplion. If all or any part of Ihe Pmperty or an intercst Iherein ic s.~ld or transferred
by Borrowe~ without [.ender's prior wrm. n cunsen~. ~e~cluding (al tht creation of a lien or encumbranc~ sutiordmate to
Ihis Mortgage. (b) the creaUon of a purch~K m~~neq tiecurity mterest for household appliances. (c) a tranc(er i+y devist.
descent or by operation of 1•rw~ upon ~he dcath i~f a i~~~nt tenam or (d- Ihe grant of any leasehold interest of thrcc ycars or less
not conlaining an op~ion to purchax. [ enJer may. a~ 1 ender'~ opt~an. declare all the sums secured hy Ih-s Mortgagt to be
~mmed~ately due and payablc. 1 rnder ~hall h~vc w,uvcd such op~iort to a~crlcrate if, prior to Ihe cale or transfer. Lender
ind =hc ~e~sc~n ia ,xht,sn sh~ p~ox<<v :.~ •_. ~.._ .;.~~~ ••• ~r~ncfrrrr~i r~a~h avri~rmenl in writ~ng that the credit ~f ~uch per~on
is salis(actory to I.enJer and tha~ Ihe imer..~ pay~ble on the sums cecared by this Mortgage shall be at s~rch ra~e ac l.ender
shall request. If l.ender has waiveJ the opu~~n te. accelerate provided ~n this paragraph 17, and if Borrower'~ wecessor in
interest ha~ executed a wnuen ascump~ion agrremer.t accepted in writing by t.ender, l.enekr shall releace Borrowe~ from all
obligat:ons unJcs !t-is Maslgage and thc N~te
If l.ender exercius such opt~on ~~ acielerate. LenJer ~hall mail Borrower nut~ce of acceleraUOn in acrnrdanc< <~ ith
paragraph 14 hereof. Such nouce ~hall prov~de a pen~~J of not kss than 30 days from Ihe date the notice is mailed within
which Borrowr_~ may pay Ihe sams declareJ dee. If Borrower fails to pay such sums priur Io Ihe expirat~on of ~uch pericxl.
Lender may, wi~huu~ further no~ice or Jcmand on &xrowcr. ~nvoke any remedies permitted by paragraph IR herrnf.
NON-UNIFURM COVFNANTS Borrower and Lender further covenam and agrtt u follows:
18. Accelcntioa; Remedks. Excepl as prnrided ia paraRnph 17 hereot. upoa Eorrower's breacA ot anr covensnt or
qreement of Bonower in this MortgsRe. includin~ the corenants to pay ~+Aen due sny su~ns secured by this Morl~a~e. t.ende~
prior lo sccekratba shd~ mail notice to dorro~-er as provided In psrsstaph 14 hereot sptcftyin=: (1) the brexh: 121 the sctba
required to cnrt sucb breach;l3) ~ date. not !ess than 30 days irom the dste 1he nolice B ma[led to aorrower. by ••Aich sucM
b~euh musl be cnred: and (4) that f~ilure Io cure such brescA on or before th: dMe specf6cd in tbe nolice msy rcsult ia
accekration ot tbe sums secured by Ihis MortRaRe. /onclosure by judicid proceedinR snd sak ot tl~e Pmprrry. The noNet
shall further inform Borrowtr ot thc ri~bt lo reinstate sfler sccekrstbn and the ri~AI to assert in tht toretlosure Proceediu~
16e non-existence of ~ de(auh or snr dh~r defence ot eotrow~t to accekratan and toreclosnrt. It Ihe Dreach is not cnred o~
or before thc dite specified in the notice, I.ender ~t 1 rnder's optbn may declart ~!1 oI fhe son~s secored by this Mort~aRe to be
immediately due and payable withoul turther dem•rnd and msy foteclost thk MoutRa~t sy judicW proeeedinR. I.ender chall
be eotifled to coilect in wch proccedin~ all expences ~.f (oreclocure. includin~. but aot Iimiled to. rtasonsblt st~•~rnr~'s ftes.
and costs ot docun~eahry evidence, abstracts md ~iUe reportc.
19. Sorrower's Ri~hl to Rtinstatt. Nu~w~~h~tandinE I~n~ier's accelerat~on of ~he sume cecured by ~h~s Mohgag:.
Borrower shall have ~he ngh~ ~~~ havc .~m ~+nxcrd~ne. lx~nn b~ Lcndcr tc~ t~(t~-it ih~~ Ms~rtga¢c d~uuntmucd at an~ Umt
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