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I.fndcr'c wnttcn agrcemen~ ot applicabk law. &~r~ower shall pay the amounl ot all mohgage imurance ptemiums in the
ma~nrr pruvidcd undc~ parag~aph 2 Mcreof.
Aoy amounts di~hu-~rJ by I.cn.kr purwant Iu Ihis paragraph 7, wnh ~ntrrest therecx~, thal) 1~ecome addilional
inJrbtrdncsc uf liura-vrcr ~ccurcd by ~h~~ Mungagc ltnle.. Bi~rrower and I.rn~ler agtee to other termc of payment, such
amounts shal) t~c payablc u~x~n na~irr fmm I rndcr to Bc~rrow~r reyuccling paymrnt thcreof, anJ shall heat inlerest from Ihe
date of dicburseme~t at thc rate payabM tn.m Iimc ta time on ou~standin~ principal under ~he Note uolax paynteet of
interest a1 such ~atc would l+e conlrarv to applicable law, in which event a~ch amounts shall hear intercst at the hi6hest rate
permiuible uoder applicablc law. Nuthing a~ntained ~n thic paragraph 7 chall requirc I.ender to incur any expense or take
any aclion hereunder.
S• laspectbw. 1_enckr may m•rkr i~r cau.e Io F+e made reacanabk enl~its upoo and inspeclions of the Propett~-. provided
that I.cnder shall give Borrower no~~rc pri~~r ~o any ~urh inspection spcci(yina rcawnabk cause theoefor rolatod to I~er~der's
interest in the Prapony.
9• Ca~dee+estbe. The proceedc of any award or claim tor damages, dircrt or consequential, in oooneetion wnth any
condemnation or other taking of the Propehy, o~ part thercof, or tor conveysnce in lieu ot ca~demnatio~. are he~- usi~uod
and shall be paid to Lender.
In ihe event ot s total tsking of the Propeny. the proceeds shall be applied to the sums-seaircd ~br lhis Mortta~.
with the exces~, it ar~y, paid to Bor~ower. In Ihe event of a partia) takina of the Property, unku Borrowe~ and I~ende~
otherwix agree in wriling. lherc shall be applied ~o Ihe sums securcd by this Mortgage such proporiion ot the p~noeods
as is equal to that proportion w•hich ~he amounl o( ~he sumc secured by this Mortgage immediately prior to the date ot
taking bean to the fair market val~K of the Propcrty immrdiately prior to the date of taking, wi~h the !-alance of the proceeds
paid to Borrower.
If the Propehy is abandoneJ by R~rrower. or if. atter no~ice hy I.ender to Bormwer Ihat th4 condertmor oRen to matt
an award ~r ultle a claim for damaGC~. B~•rmwer (~~I. a~ rcti~nd to I_ender withio i0 days atter ~he date such notice is
mailed. Lender ic authorized to collec~ and apply the procceds. at l.ender't opticx~, either to restotation or repair of the
Property or to the cum~ ucured h~• ~his Mortgajtc.
Unlesc I.ender and Borrower othenvice agrce in w rit~nF, any such applitation of proceeds to principal shall not eatend
ar pcxtpone the due date of the monthly in,stallmenls rcterred lo in paragraphc 1 aod 2 henof or chanae the amount ot
tuch installments. '
10. aorruwer Not Rek~sed. Fxtension of 1he lime for payment or modification of amortization of the sums secured
by this Mongage gnnted by l.enJer to any succeaar in imerest of Borrower choll na opente to rckase, in any man~er.
the liability o( the ~riginal Borrower and Bc~rrowcr't successon in intercst. l_ender shall not be requircd to commence
proceedings against such successor or rctase to ertend time for payment or otherwice modify amor~int~on of thr sums
;ecured by thic Mortgage hy reasc~n af any demand made by Ihe oriqinal Borrawer and Borrower s successors in inlercu_
11. Forbeannce by I,c~der NM s Waiver. Any forhearance hy I.ender in e~ercising any right or remedy hercunder, or
otherwise aftorded by applicable law, shall nc~t be a waiver of or preclude ihe exercise of any such right or rcmedy.
The procurement of insurance Qr the payment o( taxes or other liens or charges by t_ender shall not he a waiver o[ Lendet's
right to accelerate thc maturity of the indebtedness cecured 6y Ihic Mortgage.
12. Re~ncdies Comulafi~e. All rrmedies provided in this Mortgage arc dis~inct and cumulative to any other riaht or
remedy unde~ Ihis MortRage or aBordcd hy law cx cquity. and may be ex~rcised ccN-currrntly. independe~tly or successivtly.
' 13. 3eeees=ors and AssiRws Sound:.loiat and Several I.iabi~lr; Captbws The covenants and asreemrnts herein
contained shall hind, and the riRhts hercunder shall inure to. tMe respective succetson and assigns of Ctnder aod Borr~ower.
subject to the provisions of paragraph 17 hereo(. All covenants and agreemenls of Horrower shall be jary and several.
The captions ~nd headings of the paragraphc of this Mortgase are fo~ ca~venience only and are not to be tned to
interprct or define the provisionc herec-f.
, 14. Notke. Excep~ f~~r any no~ice required under applicable law to be given in another manner. (a) any ratice ta
Borrower provided for in this Mortga¢e ihall be given hy mailinR such notice by certified mail addresxd to Bonower at
the Property Addreu or at such cHher addresc as Bc~rrower mav detignate by no~ice to I.ender as provided hercin, and
(b) any notice to Lender shall he given by certificd mail. re~urn receip~ requected. to I enders address stated hercin or to
cuch other addren as Lender may deciQnate bp ~x-tice to Bormwer as prov~ded hercin. Aoy notice provided fot in this
Mortgage shall be detmttl ta havc l+een grven lo Borrower or [.ender when given in tF~e manner designated hercin.
15. UaKorm Mort~s~e: GorerninR l.aw: Se.erabilily. Th~c torm o( mortgage combines uniform covenants fot national
use and non-uniform cmemnic with limited vanat~ons h~~ juncdiction to constitute a uniform security instrument coverin~
rcal property. This Mortgage shall. be governed hv Ihe law ot the jurisdict~on ~n which tF~e Property is located. In the
event ~hat any provision or clauu ot thic Mortgage ~r ~he Note conflicts with applicabk law, such conflict shall not alfect
other provisions of ~his Mortgage or ~he Nntr wh~ch ca~ be g~ven effec~ without the rnnAic~ing provicion, and to this
end tt~e provisions of ~he MortRage and ~he Ncxe are ~kclared to be severable.
16. eorrower's Copy. Borrower shall bc furn~~hed a contormed copy of ~he Note and of this Mortgaae at the time
of eatcution or after rccordation herrnf.
17. Tnaster o[ tbe PropMy; Acsnmplion. If all or any part of the Propeny or an interest therein ic sold or tnnsferred
by Borrower without I~nder's p~ior writrrn ~onsent. e*cluding lal tht caation of a lien or encumbrance subordinate to
~his Mongage. Ib1 the creat~on ot a rur~ h~cr m~•nevi cecurity ~n~erest for household appliances. (cl a transkr hv devise.
descent or by operation of law ~~pon the Jea~h or •r jo~n~ tenam or (d1 ~ht grsnt o( any leasehold intettst ot Ihrtc ytars or kss
not containing an option to purchast. l enJt~ may_ at 1_ender'~ opt~on, declare ~II Iht sums securtd by this Mortgage to bt
immed~atdy due and payable. I ender chali h~ve w.,rved such opl~on ~o acc~lerate if, prior to the cak or ~ransfer. Lender
and th~ pefson ~o whom Ihe Propeny i. ~u fx .oIJ i~r ~ranskrred reach agrcrmrnt in writina thal the credit ot auch pe~on
is salisfactory ta Lender and tbat the interr.~ payabk on Ihe sums secured by this Morlgage shall be at such rate a~ I_endet
shall rsquest. If t_ender has waiveJ Ihe apiu.n to acceler~tt provided in ~his paragraph 17, and if Borrower i successor in
interest has executed a wrilten assumpuon agrtement accepted in wril~ng by Lender. Lender shall rekase Bor~ower trcxn all
obligations under Ihis Mortgage and Ihe Nott.
If Lender exercises such option t~- accelera~e. I.enJer ~hall mail Borrower notice of accelera~ion in iCCOfAi1K~ w i~h
paragraph 14 hereof. Such notice chall prov~de a period ot nW less ~han 30 days (rom the date ~he notice is maikd within
which Borrower may pay the sumc declared due. It Borrower fails to pay uah sams prior to tht expintion o( cuch penc~d.
Lender may, withoul further no~ice or dcm~nd on liorrower. invoke any remedia perm~tted by paratraph 18 hetcof.
NON-UNIFORM COVENANTS Borrower and Lender tunher covenant and s~ret as tdlows:
ls. Acetkrstba; Remedks. E:cept ac proviAed iw p~n~~ 1'f heno/. ~o~ io~rowe~'s Meac~ o~ swy co~ew~l ~t
a~reemewt ot dorrower la tAis k1oARa~e. includlnR Ihe corewawls Io p~r w~e~ dre s~y srw~s iec~ !y tWs MortR~e. [.ew~e~
prbr Io ~cctknNon sAall ~n~l ewtke to dorro~rer as prov{ded fw Pua~~ 11 bereo( specNyiw~: (1) tAe bre~cl-; lil tAe setlo~
t~equired to curt wch bn~ch; (3) ~ dste. wol less tAaa 30 days /rorw tAe aate tbe wotke Is wailc~ M~Mwer. ~ wbkA srcU
~each mmt pe cond: spd (4) tbal t~ilrrr lo cwe srcb bre~cM ow or ~e1we tl~e dafe s~tclfe~ iw tbe wotice iwaf resdt i~
accekratlo~ ot tbe s~a~s sccdred bY tA[s Mort~~e. /o~eclosrn bY jrdkbl ~ocse~i~ Mi ssle et the T~o~eAY. 'iUe wNiee
shaN (nrtMer in/o~ ~orror-er ot tbe riRM eo rciusbfe sfler aeeelerafiow aw~ tMe ri~IN Is areA iw tUe /o~ecl~ne ~roeee~
tbe aon-exklencc ot a detauN or aar olher defena ot eorrower to accekrMbw aw/ tortciowre. N tht M~e~cM k~of cw~e~ ~w
or before thc dile sOtcifiea ia tUe notke. Lcnder at I.ewder's o~tlow ~ ~ech~e s~ e1 twe s~w~ ue~ ~ tYs MoA~t 1s 4
immediattly due and p~y~bk wilhoul turther dernand and insy /oeet~e n~ M..~a~e y J.akw NecKe+.~. r..~ee. J~aM
Se eotitkd lo edlett b srcM ptaceedinR aN e:penses n/ toreclosrre. i~cl~. ~t ~ot Yskd b. re~~ble ~n.xser's ftes.
aud costs ot aoc~~fary e~idence. abstncls ind ~i1k nPorts.
19. ~ruwer'f RI~h1 to RtiestMt. No1w~Ihv~nding I tnder s accelerat~on of the sums xcurcd bq ~h~s Mon~a`e.
Botrower shall havt tht nght lo havt an} prcxecd~nec hrfa~n tiy Lender to e~(orct th~ti Mortgage d~scontinueJ a~ an~ nme
e~~ 348 P~~F 1259
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