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Lender's written a=rcament or :Pplicable law. 8onowe~ ~all pay the amouM o[ a14 ia~uraa~ii~piuau ia tba
mannef providcd under parss~aph 2 heroot. ~r
Any amai~ts disbuaed by Lende~ punuant to this parajnph 7, wiih interest thereon, ~hall become additional
indebtednexs ot Borrower secured by this Mort~ase. Unless Bonovre~ aad Lendet a=ree to other tetms ot payeneM. such
amamts ahsll be payabk upoo notice t~om Lende~ to Boroawe~ requatins payment thereof. and shall bea~ i~tet~st it~om the
date of disbursemeot at iht rate payabk trom time to time on aitttandin~ prinelpal under the Note unkss pa~t ot
interest at :uch ate would be contrary to applicable law, in wfiich event such amounb shall bear intarat at the ht~ rate
permiuibk unde~ applicabk law. Nothing oontaieed in this pa~agcaph 7 shall require Lender to incur any e~cpame or t~ke
any actwn henunder.
S. ios~ecNo~. Lende~ may make or cause to be made r~uonabk entries upon and inspections of the Property. provided
that i.ender shall give Borrowe~ notice prior to sny such inspec~ion specifying reasonabk cause therefor rolated to Lenders
interest in ttie Property.
9. CoM1en~~Noa. Tha proceeds of any award or claim [or dunages. dircet or consequential, in connection with any
condemnation or Mher taking of iht Propeny, or patt thercc+f, or for conveyance in lieu of condemnation, ue he~+eby assi~ned i
and shall be paid to I.cnder. .
In ~he evaet of a total taking of the Propeny. the proceeds shall be applied to the sams secured by this Mortsa~e. 3
witfi the excess, it any, paid to Borrower. In the event of a'partial taking of the Properiy. unless Bornower and Leeder
o~her.wise agc~e tn writing. then sha{I be applitd to the sums securrd by this Mortgage such pt~oportion of the proc~e~
as is equal to that proportion which the ainount of the sums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Propeny immediatety priar to the date of taking, with the balana of the prooaeds .
paid to Borrower.
Tf the Piroperty is abandoned by Borrower, or if. aher notice by Lender to Bornower that the oondemnor oRen to make ~
an award or settk a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notive is 1
mailed. Lender ia authoriud to colkct and apply the proceeds. at Lender's option, eithe~ to restoration_ or tepair ot tbe ;
Propeny or to tAe sums secured by this MonRage.
Unleu Lende~ and Borcower otherwise agrec in writing, any wch application ot procceds to principal ahall not exteod ~
or postpone the due date of the monthly installments referred to in parsaraphs 1 and 2' henof or chan~e the amount of ~
such instaltments. ~
1!. ~rower Noi Releasea. Extension of the time for payment or moditkation of amortizttion of the wms securod
by this Mo?t~tage granted by Lender to any :,uccessor in intercst of Borrower shall noi opente to nekase, in any manner.
the lisbility uf the original Borrower and Bc?rrowcr's successors in interest. I.eoder sha11 nW be reqdircd to commenee '
prc~ceedings against such successor or rcfuse to extend time for payment or otherwist modify amortiutio~ of the wms
secured by this Mortgage by reason-ot any demand made by the o~i~inal Borrowe~ and Borrower's successors in iMerat.
11. Forbearanee by I.eaic~ Nat ~ Wdver. Any fort~earance by Lender in exet+cising any right or remedy henunde~. or
otherwise afforded by applicabk Iaw, shall not be a waiver of or preclude the exercise of any such ri~ht or nme8y.
Tfie procurcment of insuranoe or the payment of laxes or other liens or charga by Lender shap not be a waiver of LendePs ,
j right ta accelente the maturiry of the indebtedness secured hy thit MoKgage.
]2. Rc~ C'~auhHre. All remedies pmvided in this Mortgage are distinct and cumulstive to any dher risht or
remedy under this Mortgage or afforded by law or equity, and may be exerciscd ca~currently, independently or :tx~oestivdy.
13. S~ec~s~o+s a~i AsdLns Soasd: Jo~/ asa Sererai i.isbiHry~; Capdoas. The covenants and agreemet?ts l~in
contai~ed. shall bind, and the rights hercunder shall inurc to, the rcspective succes.wn and assians of Cender and Bonower.
subject to ~he provisions of paragraph 17 hereof. All covenants and agroements ot Borrower shall be jant and sevenl.
The captions and headings of the paragraphc of this Mortgage arc fo~ convenience on4y and are not to be u~ed to
interpnt or define the provisions hercof. ~
14. Notiee, Except for any nolice required u~der applicable law to be aiven in another manner. (A) any notioe to -
Borrower provided for in this Mortgage shall be given by mai{ing sucfi notice by certifiod mail addressed to Ba~roMrcr at
the Property Addrcss or at such other addrcss as Bormwer may designate by ~otioe to i.ender as provided herein. and
(b) any notice to Lender shafl be given by cenified mail, return receipt roqutstod, lo I.ender's addrcu stated herein or to
such other address as Lender may designate by notice to Borrower u provided hercin. Any notive provided for in this
Mortgage shall be damed to have been given to Bo~rowcr or Lender wfien given in the manner designated hereim.
1S. UaNorm Morf~e; Gorerain~ La~?; SevenbWty. This form of mortgage combina unifone~ covenants for natioaal
use and non-uniform covenants with limited variatio~s by jurisdiction to conatitute a uniforne security instrument oovering
r~eal property. This Mongage sfia{I be gov~rncd -hy the taw of the jurisdiction in which the Properry is located. In the
event that any provision or claax of this Mortgage or the Note conflicts witfi app{icabk taw, auch conflict shall not altect
other provisions of this Mortgage or the Note which can be given eBe~t without the confticting provision. and to this
end the provisions of ihe Mortgage and the Note are declared to be severable. '
16. Borror?er':.Copy. Borrovrer shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after r+ecordation hercof.
17. T~er of tbe Property; Assnmption. If all or any part of the Property or an intercst therein is sold or transferrod ~
by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbmnce subordinate to
` this Mortgage. (b) the crcation of a purchase money securi~y interest for hausehold appliances. (c) a tnnsfer by devise,
4 descent or by operation of law upon the death ot a joint tenant or ld) the grant of any Icasehold interest of three years or ku
i not containing an option to purchase, Lender may, at Lender
s option, declarc all the sums secured by this Mortgsge to be
~ immediately due and payabie. Cender shali have waived such option to accelerate if, prior to the s~le or transfer, Lender
~ and the person to whom the Propeny is to be sold or transterred reach agrcement in writing that the crcdit of such person
is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shaii be at such rate u I.ender
shalt rcquest. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
in:erest hac exceuted a written assumption agreement accepted in writing by i.ender, Lender shall rclease Borrower from all
obligations under this Mortgage and the Note.
If [.ender exercisa such option to accelerate. 1_ender chall mail Borrower notice of. acceltration in accordance with
paragraph 14 hereof. Such notice chall provide a period of not las than 30 days from the date the notice is maikd within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the txpiration of such period,
~ender may. without further notice or demand an Borrower, in~oke any remedies permitted by parograph 18 hereof.
Nox-UH~FORM CovExeHTS. Bonower and Lender funher covenant and agree as follows:
18. Accdentba; Remedia. Except ~ provided ia parasnph 17 hereof, apos ~orrowers 6reaeM of a~y co~era~f or -
agreement of Eomower ia thk Mo~tgage. includin~ tbe corcn}uis to pay whe~ d~e sny soa~s secw~ed by t6is Mo~a~e, Lp~der ~
prfor M sccekratbe sball msi! notMe to Sorrow~er as pmrided ia WnL~ 14 bereot specif~riait (1) ti~e b+eac?: (2) tle sctb~
required to csre soc6 bresch; (3) s d~c. nW las tbsn 30 dsys tron~ tl~c date tl~e aotke M maYed to Sorrower, b~r ~rrk~ s~
6reach n?est be csred; snd (1) thst failnre~to cure sncb bresch o~ or betorr tbe date s~ecl6ea b tbe ~oflee aay e~eait i~
sccekrstion ot t6t sou~s secarcd by this Mortaage. foreclosYre by jadkW proceediu` a~i st4 of t4e Tro~aip. 'ILe ~wtiee
shdl furtber iaform Eorrower of tlie riaht fo reinstste after sccekratioa awd t6e ri`bt b a~serl iw 11~e forecbqnt Nocee~
tbe non-exlstence of a defank or sny otber defense of aorrower to accekrNbo snd toreelowre. U t6e breacM is eot ese~e~ o~
or betore tbe dste specified ie ihe. notice. I.snder a1 Lender's option inay declart W of tbe s~p~ sec~red by thk 1Norf~a~e ~O be
immedistely due asd paya6le rritlwat fu~tber deinasd and msy foreclose tbk 1?1orq~e by jadieW ~oeeedi~. I.e~ie~ duY
be entided to collect ia s~cM proceedi~ aA e:pesses of torecbsure, laclydia`, brt wM ~shd te„ reaso~srle att~a t~a„
and cosfs ot docementary e~idence. a6strscts ssd titk rrporis.
19. dorroveer's Riabt to Reinstate. Notwithstanding Lenckr'c acceleration of the sums xcur+ed by this Mott~aQe.. ,
Borrower shall have the tight to have any proceedings hegun by l.ender to enforce this Mongage discontinued at any time
~ a~395 P~f
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