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Lende~'s wrilten agrcement or applicabk law. Borrowe~ sha11 psy the amount ot all moM~ate i~suranca premiuira ie the
manner providecl unde~ pa~ag~aph 2 hereot. ~
Any amounts disbursed by I.enJer pursuant to th& parag~sph 7, with interest thercon. shall betome sdditiond
indeb~edt~ess of Bo~rowc~ stcur+cd by Ihis Mor~gagc. Unlecs Bcxrower and t_ende~ a~roe to other temts of paymeet. such
amcwnts shall t~c payable upon naice from I.cnde~ to Bo~rowcr rcquesting payment thcreof, and shsll bea~ ioterat tt~om the
date of di:bursement at Ihe rate payahk trom time to time on a~t:ta~din` principal unde~ Ihe Note uolas payeua~t ot
intercst at such rate would be coot~an? to applicable law, in which event.such amounts shall bear intercst st the Ai=hest rate
P~~m~ssi'b1e ~der applicabk law. Nothing ccu~tained in this pa~agraph 7 shall rcquirc I.ender to incur any eapeme or take
any action hereunder. ~
s. l~ectio~, l_ende~ may makc or causc ta be made rcasonabk entries upon and inspections of the Propetry. provided ~
that I.e~de~ shall 6ive Bonower notice prior to any such iospection spoci[yina rcasoaabk cause there(or rtlated W La~de~'s
intercst in the Propeny.
! Co~ea~qlio~, 'Thc praceedc af any award or claim for damages. diroet or consoqueatial. in cau~ectba w?ith aay
condemnatio~ or other taki~ of the Property, or part tAercof, or for co~veyanoe in lieu of condemnation. are hereby ~ned
a~d shall be paid to I.rnder.
In the ev~M of a tMal takina of, the Property. the prcee~ds shall be applied to the uuns secured b~r tha Mortja~.
with the exoess, if any, paid to Borrower. ln the eve~t of a pa~tial takina of the Propeny. unless Horrower and I~ee~der
otlierwise agree ie writinlt. there sha11 be applied to the sums secur+ed by this Matgage such proportion of the qeoeeds ~
u is equal to that propoMion v?hich the amount of the sumi securcd by this Mc?rt~tage immediately prior to the d~e ot
taking bears to the fair market value of the Propcny immediately prior to the date of taking, with the balance ot the prooeeds
paid to Borrower. '
if the Property is ahandoned by Bc~rrower, o~ if. after notice by Cender to Bormwer that the coadetnnor oRers to mate
an award or settk a claim for dam~ges. &,rrower fail. lo respond to Lende~ within 30 days after the date auch nMioe is
mailed. I.ender is authorized to collect and apply ~he proceeds. at I.ender's option, either to restoration or repair ot tl~e
y this Mortgaite.
othervvicc agree in w•riting, any such application of proceeds to principal shall nof extpfd
~ or t onthly inst~llments referred to in paragraphs 1 and 2 hereof or chan~e the amount ot
i~~ .
10. Dorrowc~ Not Rekased. Extension of the ~ime for payment or moditication ot amortization of the sums ~ecur2d
. by this Mwtgage gnnted by l.ender to any ~uccecso~ in intereit of Borrower ~hall no1 operate to rckase, in any manner.
the liability of 1he original Borrowe~ and Borrower's succtssors in interest. Lender shall not be requircd to commenoe
proceedings against such succasor or re(use t~ extend lirne for payment or otherwese modify amortiution ot the sums
secured by thic Mortgage by rcason of ~ny rlemand made by the oriR~nal Borrowe~ and 8orrower: successors in inlerest.
~ 11. Fwbearanee by Lender NM a Wairer, A~y-torl~earance by I.ender in exercising any right or remedy hereunder, or
otherwise afforded by applicabk la~r, shall not be a waiver of or prectude the eaercise of any such ri~ht or remedy.
The procurcment of in3urance~r the payrne~t of taxa or other liens or charga by Lender shall not be a waiver of L~enders ~
right to acceleratc the maturity of the i~debtedn~ss cecured 6y this Mortgage.
l2. Remedies Comolstive. All rcmedies pmvided in this Mortgage arc distinct and cumulative to .any other riaht or
rcmedy unde~ this Mortgage or af[orded hy law or equity, and may be exercixd coricurrently, independently or succasively.
' 13. S~ece~sors snd AstiR~s Sonnd: Joht a~d Sererd i.iability; Csplions. The covenants ar!~ ~grM~r-rr±t~ hercin
con~sined shall bind, and the rights hercLnder shal! inure to, the respective successon and assigns of Lender apd Bornowe~.
subject to the provisionc of paragraph 17 hercof_ l~ll covenants and agrcements of Borrower shal! be jary and sevenl.
The captioru and headings of the paragraphc c+f thic Mortgase arc for conveoiencr only and ar+e not ta be tned to
interprct or define the provisions herec?f.
14. NMke. Except for any naice rcquired under applicabk law to be given in another ruanne~, (a) any notice to
Borrower provided for in ihis Mortga¢e shall be given by mailing such notice by certifted ma~! addresxd to Borrower at
' the Property Address or at such dhc~ addresc as Bormwer may designate by notice to Lender as provided hercin, and
; (b) any notice to Lender shall he given by certifial mail. retum receipt rcquested. to t.endefs address stat~ !~r-~.-.
~ such other address as Lender may designate by nr?tice to Borrower u provided hercin. Any notice provided for in this
I Mortgage shall be deemed to have been given to Borrow•er or [_ender when given in the manner desianated herein.
1S. Uaitor~u Mort~a~e; Go~ernla~ Law: Sevenbility. This torm of mortgage combines uniform covenants for national
uso and non-uniform co~enants with limited variations hy jurisciic~ion to constitute : uniform securiry instrument ooverina
rea! property_ This Mongage shall be governed hy the law of the jurisdiction in which the Property is located. In the
event that any provision or clu~se of thic Mortgage ~r the No~e conflicts wi~h applicabk law, sueh conAict shalt not atfeet
other provisions of this Mortgage or the Note which can be given effect without the conflicting provicion, and to this
end the provisions of ~he Mongage and the Note are Jeclarcd to be severable.
16. ~orrower's Copy. Borrower shall be furniched a conformed copy of ~he Note and of Ihis Mortgage at the time ~
of ezecution or after rccordation hereof.
17. Traader of tbe Property; Assumption. If all or any part of ~he Property or an intercst thercin is sold or tnnsfernd
by Borrower without Lender's prior wrin~n consent. excluding (a) the crcation of a lien or encumbnnce subordinate to
this Mortgage. (b) the crcat~on of a purchace money cecuri~y interest for houxhold applianca. (c) a transfer hv devise.
dactnt or by operation of law upon the dea~h of •r jo~m temnt or (dl the gnnt ot any leasehold intercst of threc ytars or kss .
not containing an option to purchase. Lender may, at Lender i opt~on, declare all the sums socured by this Mort6age to be
immediately due and payable. Le~der shall have w•;,wed u~ch option to accelerate if, prior to the wk or transfer. Lender
and the perso~ao whom tho Property i~ a. bc colJ or transferrcd rcach agrecment in writin6 thal the credit c?f wch persoo
is utisfactory to Lender and that the in~erc.t pa~abk on ~he sums secured by this Mortga~e shall be at such rote as Leoder
' shall rcquest. 1[ Lender hu waivod the op~ion ~o accekrate provided in ~his pangraph 17, and if Bonower's succtssor ie
interat has executed s written assumption agrcement accepted in writing by L.ender, Lender shall rekase Borrower from all
obligations under this Mongage and the Note.
If Lender exercises such option to accelera~e, Leniier.chall mail Borrower notiot of ucekruion in seeordancc w•i~h ~
paragraph 14 heroof. Such nolice shall provide a period of nw Iess than 30 days from Ihe date the ndice is maikd within
which Borrower may pay the sums declared due. If Borrower fails to pay u~ch sums prior to the expiration of cuch period. ~
Lender may, without further nolicc or demand on lbrrower. invoke any remedia permitted by parsgraph 18 hereof.
i
NoN-UH~FORM CoveN~NTS. Borrowe~ and Lender furthe~ covenant and ajne at folbws: ~
. la. AccelerNio~; Rea~edks. Lzcep a~ ~rovida~ i~ Mra~n~ 17 he~eol. Row io~+owa's baac~ o~ ~r co~erisM K
a~ree~e~t ot Swrnwer ie tMk Morq~aRe. iwc{~dinR U~c co~ew~+Ns to p~y ~?I~e~ d~e ~y sr~s iecrrcd ~ tbb MortR~e. [.e~er ;
p~ior 1o sccekrsdo~ sbaq w~ail notke to Sorrower as provided 1~ para~rapb 14 Ueno~ s~ecNyh~: (1) tf~e brsac~:/211Ae setbw ~
reqrired to e~e secM bnacM;13) s dMe. wot kss tMsa 36 dars trow~ tbe datt tbe ~otke r wa~e~ M~en+ower. by aAkl~ sreli
b~eacb swt be nred: s~ (1) IAat t~ilers to cnn wcA Me~el~ o~ or retorc tl~e aate s'eeMe~ Iw tUe sotice ~uf ~N b
accderst~ow ot He s~a~s secarrd by tLis Mort~e. MKClosure h jrdkW Noctsdi~ a~i de ~t Hie rrope~ry. 7Ae ~otiee -
•AaM f~rl6er isform dorror?er et tbc ~M to rci~shte atler sccekrMfo~ ~wd tre ~IN b arert h tl~e twtcle~we /eoete~ ~ i
tie won-e:Wence of s aefsnlt or swy MAer ~cfewsc ot Ewrower to ~ecelen~tfe~ awi toreeloaiee. It tAe breic~ is ~ot ewt~ o~ r
or 6elore the date s'eei6er ~ the nofict. Lcnder a1 t.cnder's o~tiow ~ atclafe v o~ ti~e:tas fscrre/ ~ flds Me~tRa~t lo ~e '
imo~tdiately due saa pysbk .?jtbout terlber demand and ~ faerlose t~4 Mo~a~e ti jrdkW roceedl~R. f.~ndcr sAar ~
be e~tiMed to co0eet in sreU'roecedinR a~ expenses of to?eclosvre. iwch~die~. bd ~ot liwild t~. re~aMt atturneY's ftes. ~
a¦~ tosts ot iot~iwe~tary eridewee. sbstrscb and Iilk rePorts. ;
19. ~orrowers R~it to Rciostste. ~Notwiihstand~n~ I.endtrs atcelerat~on ot the sums securcd by th~s Mon6a~e. ;
Borrower shall have the right to have any procrrdings bedin by Lender to ent~rce Ih~s MonEase discontinued a~ any time '
BOOK 392 PAGE c~U~ !
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