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I.end~r's writtcn agreement o~ applirable law. Borrowe~ shali pay the amou~t ot all mortg~ge insurance prcmiums in the
mannrr pruvided u~der parag~aph 2 hereof.
Any amoun~c dichu~;ed by I.ender purcuant ~a this paragraph 7, w~th imerect thercan, shall become additional
inJehtcdne~x ~-f (lurruNrr tiecurcd by ~h~c Mongage. l!nle.~ BMfONCf an~i 1 enJer agree to ather tertnc of payment, such
amount< <hall hc payahlc u~xm n~~ticc fr~~m Lcnder Io &-rr~~w~r~rcqucslina paymrnt ~hcrcot, and shall hcar iMerest from the
da~e of ciichurscment at ~he ratc payahlc fn~m time to ~ime an oulstandi~g p~incipal under Ihe Note unlecc payment of
interest at such rate would t~e contrarv to applicable law, in which event a~ch amounts ~hall hear interest at the highest nte
permissible under applicabk law. Nothing ramained in thic pa~•rRraph 7 shall requirr I.ender to incur any expe~te or take
any action hcreunder.
S• :+spectiop. I.cnder may makc or cau.r ~~ hc made rcauinahlc cmriec upon and inspectio~c of the Property, pmvided
that l.ender shall give Borrawer not~ce pri~~r t~ •r~y such i~spectioo specifying reasonable cause theretor rclatod to Le~der's
interest in the Property.
9. Cowdem~afiou, 'fhe P~~x~,~dc of any aw•atd or claim for damaga, dirtict or cansequential, in rnnnectio~ with any
condemnatio~ or other taking of 1he Property, or part tAereof, or for conveyance in lieu of condem~atioo. are hereby assiaoed
and shall be paid to Lender.
In the event of a total taking of the propeny, the proceeds shall be applied to the sums secured by Mis Mottaage.
with the ezcess, if any, paid to Borrc-wer. in ~he event of a partial taking ot the Property. unless Bormwer and Lender
otherwix agroe io writing. thert shall be applied Io the sums secured by ihis Mortgage such proporiion ot the proceeds
as is equal to that propo~tian w•hich ~he amoant o( thc sums secured by this Mortgage immediately priar to the date ot
taking bears to the fair market value of the Proper~y immediately prior to the Jate of taking, with ~he balance of the praceeds
paid lo Bormwer.
lf the Property ic abandoncJ by Borroa~cr. or if. after notice by i.ender to Bormwer that the condemnor oliers to make
an award or utUe a claim for dam~ge.. Bi•rmwer fa~l. ~~. res~nd to I.endrr within 3(1 days after the date such notice is
mailed. [_ender ic autho~ized to collect and apply ~he proceeds. at l.ende~ s option, eilher to restontion or rtpair ot the
Praper~y or Io the sum~ ~ccured hy ~his Mortga~tt.
Unlesc I.ender and Borrawe~ athen~vice agree in w rit~n~. any c~~ch application of pre~ceeds to principa) shal) not eztend
or poslpone the due da~e of thc monthly installments rcferrcd to in paragraphc 1 and 2 hereof or change tht amount of
cuch ins!allments. ~
10. ~ower Nol Rekased. Fxtension of the ~ime for paymen~ or mc~dification of amortization of the sums securcd
by this Mortgage qranted by l.ender to any cuececsor in in~erect of Borrower ~hall not operate to rclease, in any manner.
the liability of the original Botrower and Bc-rrower'c suecescorc in interest. I.ender shal) not bt rcquired to eommence
proceedings against such successor or rcfuse to e~tend time for payment or othenvix modify amortizat~on of thr ~ums
ucured by Ihic Mortgage hy rcason of any demand made b~• Ihe oriqinal Bc~rrower a~d Borrower s successors in iMerect.
- 11. Forbeuance by I.ender NM s Wsive~. Any forhearance by 1_ender in etercicing any right or remedy hercunde~, or
otherwise affo:ded hy applicable law, shall not be a waiver of or preclude the eYercise of any such right or remedy.
The procurement of insurance nr the payment of taxes or other liens or chargec by I_ender chall not t~e a waiver of I.ender's
right ta accelera~e the maturity of the indebtedness cecured hy thic Mortgage.
12. Remedies Cnmulafi~e. All rcmedia provided in Ihic iliartgage are distinct and cumulative to any other right or
~emedy unde~ this Mo~~gage or afforded hy law or equity, and may he e±cerci~ed concurrently. independently or successively_
~ 13. Successors and Assi~as Eound:.7oin1 aad Sereral I.isb~lify; Captbns. The covcnants and agreements hercin
conUined shall bind, and the riRhts hereunder shall im~re to, the respective succeccorc and assigns af I_ender at~d Borrower.
subject to tl~e provisionc ai paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and xvenl.
The captions and headings of the paragraphc of thic Mortgage are for convenience only and are not to be ined to
interprct or defint the provisions hercof. •
1~. Notice. Except for any notice rcq~~ired unckr applicable law to be given in another manner, (a) any notice to
Borrower provided for in this MortRa¢e shall be given by mailing ~uch notice by cer~i8ed mail addressed to Borrower at
the Property AJdrcss or at such o~hcr addresc ac Borrower mav decignate by no~ice to T.ender as provided herein. and
(b) any notice to Lender shall he given by cer~ifieel mail. return receipt requested. to 1 ender s address stated hercin or to
such olher addrcss as Lender may dtcignate hy rx~tice to Born.wer as provided hercin. Any notice pmvided for in this
Mortgage ihall be dtemed to•have heen gn•en to Bt-rrowcr i~r Lcnder w~hen given in the manner designated herein.
15. Uniform MortRa~e; Go~ernin~ [.aw; Severabilit~~. This form of mortgage comhines imiform covenants for national
use and non-uniform covenamc with IimiteJ variationc h~• juricdiction to constitute a uniform secu~iry instrumrnt rnvering
rcal property. This Mortgage shall be gove~ned hv ~hc law of the juriscliction in which the Property is located. in the
event that any provision or claoce of thic Mortgage ~r ~he Note conflicts with applicable law, such conflict shal) not atfect
o~her provisions of this Mortgage or the Ni~tr which can be given etiect without the conflicting provicion, and to this
end the provisions of ~he Mortgage and the 'dote arc declared to be severable.
16. Sorrorrer's Copy. Borrower shall be furniched a conformed copy of the Note and of this MoNgage at the time
of execirtion or after recordation here~f_
17: Tnnsfer of tbe Propertv: Assumplion. If all or any parl of the Property or an intercst therein ic sold or tnnsferred
by Borrower without Lender's prior w~~t~rn conuni. etcluding (al the creation of a iien or encumbrance subordinate to
this Mongage, (b1 the creat~on of a purchace m~.ne~• cecurity mterest (or household appliances. (e) a ~ranc(er hy devise,
descent or by operation of law upon the dcath of a j~ant tcnant or ld- ~ht gram of an~- leasehold intercst of threc ycars or kss
not containing an oplion to purchase. l ender may. a~ I.ender'c opt~on. dtclare all the sums secured by this Mortgagt to bt
immediatdy due and payable. I_ender chall h~.•e w.~~ved such op~ion ~o .~~crleratt it, prior to 1he cale or transfer, Lender
and the persun to whom thc Proper~y i. ~a bc co1J or trans(erred reach agrerment in writing that the credi~ of cuch percon
is satisfactory to [.enJer and Ihat the interr.t pa~•able on the sums ucured by this Mortgage shall be at .soch nte ac Cender
shall rcquest. If I_ender has waived the option to accelerate provided ~n this paragraph 1~, and if Borrow~r'> >uccessor i~
interest has executed a wnttto assumption agreemenl acacpted in writ~ng by t_ender. Lender shall release Borrower from all
obligations under Ihis Mortgage and the Nae. -
If 1_ender exercises such option to accelera~e. 1_enJer chall mail Borrower notiee of acceleration in accordanc~ w~ith
paragraph 14 hertof. Such notice shall provide a period of not lesc than 30 days from the date the nalice is mailed within
which Borrower may pay the sumc declared due If Bonower fails to pay such sums prior to ~he expinlion of cuch per~c~d,
Lender may. without turther notict or demand on Horrower. ~nvoke any remediu permitled by paragraph I R hercof.
NON-UNIFORM COVENANTS Borrower and l.ender further covenant and agrce u folluws:
18. Accekrslioa; Remedks. Bxcept a~ provided ia para~npb 17 bereot. opo~ ~rowers breul~ ot s~y co~ewawt or
a~recmeat of sorrower ie thk MortRsRe. includi~ Ihe co~cnants to psy ~+he~ d~e aey sun~s secund yy thts MoNR~e. i.endcr
prior to accekralbo shall mail notice 1n Qorrorrer as provWed ia ParqnpU 14 hereot specNyfa~: (1) fhe bre~ch:1211ht setbw
~+equfnd to core sucb brcach;l3) a date. no1 kss ~hsn 30 dsys from tbe dste the notke b maUed to don+nwer. hy .rhkh wc~
b~esch must be cond: spd (1) Ihat tdl~re to cere sacb brescM ow or betoee the dale spect~ed in the wolke ~nir ~esdf h
accekration ot tbe soms sccured by IAfs MwiRaRe. toreclosure br jadkiat proceedini a~d sak of It~e ProPcrtr. The uotlce
shall turther inform eorrower ot tbe riRM to reinstate afler ~ecekntfon and tbe riaht to a~scrt iw the torecbsrrt ~
t6e aon-e~istence o~ s detsuN or, any other dettnte o~ eorrm+~er to accekrstbn ~ad tortclosore. It the brc~cl~ k wot cored ow
or betore the date specified ia the notice, /.ender at [.ender•s optbs ~wiy declue all M the sti~ts secrred by tl~is MortR~e to be
imenedistely due and psyabk wilhoul fuAher dem~nd.~nd nay /orrclose Mis Mort~a~s by j~dkW ~r~oeeedinR. /.~ndcr cAdl
be estiHed to coReci M snc6 prueeedir~ sll e:penses nf foreclosure. Inclndins. bnt wot Umittd to. reasonabk su.rrnev's fees.
and costs ot docY~ACUhry eviaence. sbstrscts ~nd lilk reports. .
19. ~ono~-er's Ri~ht lo Rei~tite. Notwith~~andiw~ I tnJer's accelerat~on o/ Ihe sumc secured by th~c Mor~6age.
Borrower shall havt Ihe right ~o have an~ prcxe~din~c t,r~~n by Lender to entorce Ihis Mortgage d~scont~nued at any timt
B0~1KJ~S Fl.GE~~4•~
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