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4ender's written atrcement or appiicable law. Bo~rowe~ ahall pay the amou~l ot all mo~t~i~e insurance p~+emiums in the
manner providcd under paraarsph 2 hercot.
Any amounts disbursed by Le~de~~ pursuant ~ to th+s paragr~ph 7, wiih interest thereo~, sha1) become additional
inJcbiednrss of Borrower seeurcd by Ihis Mongage. Unleu Borrower and l.ende~ agree to othe~ t~rms of payment. such
amounts shall be payablo upc+n notice from I.ender ~o Borrower reques~ing payment thereof, and shall bear intercst toom the
da~e of disbursement at the rate payahle trom time to time on outstanding ptincipal under the Note unkss p~yment ot
interest at such rate would be cont~a~y to applicable law, in which event such amounts sfiail bear interest st the hiah4st nh
permissible under applicable law. Nothing contained in this paragraph 7 shall require 4ertdet to incur aay expettse or take
~ny action hercunder. ?
8. Inspectioe. l.ender may make ot cause to t+e made reacc+nable entriec upo~ a~d inspeclians of the Property, provided 's
that l.ender chall give Borrowe~ notice prior to any such insp~ction specitying reasonable eause therefor rtlated to l.tnder's '
in~eres~ in the Property. ~
9. Condem~atbn. The proceedc oF •rny award or claim for Jamaees, direct or concequential, in coonection with any '
condem~ation or other taking of ~he Properly, or part ~hereoi. or far conveyance in lieu of condemnaUon, are hercby assigned ~
and chall t+e paid to i_ender. i
T~i-~he eveot of a total taking of the Property. the proceeds chall he applied to the cums secured by this Mottg~ge.
with t~~ eicc~s, if any, paid to Borrower. In ~hc event of a par~ial taLing of ihe Properry, unless Borrower and Lender
otherwia agree in w~iting, there sfiall be appl+ed to the ~ums socurcd by thic Mortgage such proportion of the proeeeds
3s ic equal to that proportion whieh ~he amount ~f the sumc cecured by this Mongage immed'+ately prior to tfi~ date of
taking t~ears to the fair market value of the Property immediately pri~r to the date of taking, with the balance of the proceeds
paid t~ Borrowtr.
it the Property is abandoneJ by Borrov?er. or if. after no~icc by I_cnder to Barmwer tfiat 1fie condemnor of~en to make
an aw•~rd or setlk a claim for damaee~, Borrower faih respnnd Ic? l.ender within 30 days after the date such notict is
mailed. Lender ic authorized ~a collec~ and apply ~he proceeds. at I.ender i option, eithe~ to restoration or rcpaiF of the
Propcr~y or ~o the sum< <ecurtd M• this MortRage.
Unlesc I.entkt and Borrowe~ otherwice agree i~ ~rit+nc. any such application of proceeds to principa) shall nol extend
or pc~ctpone the due daie ~f the monthly installments referred to in paragraphs 1 and 2 hercof or change the amount oE
~uch inctallmentc.
l0. Borrower Not Re{eaaed. Ertension of the ~ime for paymenl or modification of amortization of the sums ucurcd
by thic Mortga¢e granted by l.ender to any cuccecsor in intereSt ot Borrower ~ha41 not operatt to rtltase. in a~y manner.
the liah~lity of ~he orieinal Borrower and Bo~rower'c succescorc in interest. I.ender shall not he rcquired to commenee
proceedings against such succe~so~ or refuce to e~tenJ time for payment or otherv?ise modify amurtization ot the sums
cecured by thic Mortgage by reasc~n o( am demand made by the orieinai Borrnwer and Borrower's succeswrs in interat.
11. Forbearance by I.ender Not a Waiver. An~• forhearance hy l.cnder in erercising any right or remedy hercundtr. or
c.therwise afforded by applicahle law_ thall nc?t he a wai~•er of or preclude the extrcise of any such right or remedy.
The.procurement of insurance or the payment ot ~atiec or nther liens or charges by I.ender chall not lx a waiver of Lender's
right u~ accclerate the maturity af thc indehtrdne~s ~ccured hy thic MorlgaRe
12. Remedies Cumulative. All remeciiec prc+vided in thic Mortgage are dictinct and cumulative to any other right or
reme~l~• under this Mortgage or afforded hy law• or equi~y. and ma}~ he exerc~ceJ rnncurrently. independently or successively.
13. Succawrc and AssiRns Bound; Joinl and Srreral I.i~biliry: fapHonc. The covenants and ag~eements herei~
contained chall hind, and the riRhtc hereunder shall inure to. ~he respective ~uccecson and assignc of Lende~ and Borrower.
subject to the provicionc of paragraph 17 hereof. All covenants anJ agreementc of Borrower ~ha41 be joint and several.
~ The captions anJ headings of the paraeraphc ~f this Mortgage are for convenience only and are not to be used to
imerpret or define the pro.~icions hereoF.
14. Notice. Except [or any notice required under applicahle {aw to be Rrven in another manner. (a) any notice to
Borrower pmvided for in this Mortga¢e shall he given b}~ mailin~ wch notice by certified mai! addrcssed to Borrower at
the Pmperty Addrcsc ar at ~uch o~her addres~ as B~•rr~wer mav designate by noiice to I.end~r as provided herein, and
(bl am• n.~tice to Lender sfia11 he gi~•en fi}• ceitified mail. rcturn receip~ requeded. to l.ender'c address stated hercin or to
cuch uther address as Cender may de~ig~ate h~~ notice t~ Bormwer as provided herein_ Any notice provided for in this
Mortgage shall be deemed to have txen g~~~cn to Rorrower or 1 ender when grvcn in the manner designated herein.
15. l?niform MorlRa~e; GoverninR I.aw: Sever~bility. Thi~ form of martgage combines uniform covenants for national ~
i~sc and n~n-unifotm covenant~ uith IimiteJ var~ationc h~• ~urisd~ction to constiti~te a uniform securiry inslrument covering
real propeny Th~, Mortgage ~hall hr go.erned h~~ the laK ~~f the juri«t~clion in which the Property ic located. In tht ~
event ~hat any provision or clau~e of thic Atortgaee ~~r thr \nie cc~ntlict+ K ith applieable law. such confliet shall not aHeet ~
other pm~•i.ion~ of ~his Mortgage ar the N~~r wh~nc ~an he g~~•en.effec~ without the confliuing provicion, and to this
end the provi~ionc of the Marlgagc and the '`otr arc Jrclared t~. he tieverable. ~
16. Borrower's Copy. Borrower ~hall F?e furni~hed a ~onformed copy of the Note and of thic Mortgage at the time >
of execution or after recorda~ion hereof- `
i7. Tnnster of Ihe Propert~: Assump~ion. If all ~r am p:+rt of ~hc Property or an interest therein ic s~ld or tnnsferred ;
by Borrowcr without I_ender's pric.r wri~~~n r~~ntrnt. c~rfuding la1 the creation of a lien or encumbrance subordinate to '
th~~ Mongage. Ibl ~he creation ~f i purchate m~~ne)' cecurit~ mterest for houcehold appliances. 1e1 a transfer by deviu, :
deccent or hy operation of la~ upon thc dcath i~f a ji~m~ tcnant i~r fJ~ Ihc gram nf am• leasehold interest of three years or less ~
not rontaining an option tc. purchase. i ender m;,y, at 1 rnder'~ option, declare all the cums secured hy this MoRgage to be 1
! immeJiately due and payable. Lender shall ha.~e KJIVC(I ~uch uption tc acceterate ~f, prior to the cate or transfer. Lender
~ and the person to whom Ihe Pmpert~• ic tr t?e ~oW or transferred reach agrecment in writing that the credit of such person
i ic satiafaclory to [_ender and that Ihe intere.~ pay~able ~n the sumc secured by thic Mortgage shall be at such rate as Lender
sfia11 request. If l.ender has waived the option tn accelerate provided in this paragraph 17, and if Borrower's successor in
interest ha~ executed a written assumpt+oe agreement accepted in writing by Lenckr. [.ender shall rcleau Borrower (rom all
obligations under this Mortgage and the Note_
If I.ender exerciaec such option to accelerate. I_ender chall mail Borrower notiee of acceleration in aceordanee with
paragraph 14 hereof. Such notice ~hall provide a periocl ot not less than ?0 days from the date the notice is mailed within
' wh~ch Borrower may pay the sumt declared due If Borrowcr fai{s to pay s~uh sumx prior to tht expiration of sucfi period,
Lender may. without funhec notice or demand ~n F3orrower, ~nvoke any remedies permitted by paragraph 18 hereof.
Nonr-Ux~FORr~ Covex~NTS. Borrower and 1_ender further covcnant and agree as fo{iows:
18. Accelentio~; Remedies. Except ~ prorided in paraAraph 17 hereoE. upon dorrower's bnach of sny covsoaat or
~greement of Borrower in this Mortga~e. includin~ Ihe corenants fo psy whtn dae ~oy snms setured by this Mort~a~e. Lewder
prior to acctlemtan shall msil nofice to Borrower as provided in parsRraph 14 hertof specityins: (1) tbt Meacb; (2) tbe attio~
required to cure such brcscb; i3) a datt. not le~ than 30 days fwm Ihe date the notice is m~~ed to Eorrower. by whic~ sec~
breach must be cured; aad (4) ihst fatlure to cure such bresch oe or betore tbe date specified iw tbt notke tpsy resalt ~
acceleration of the sua~s securcd by Ibis Mort~s~e, fortcbwre by judicial proeeedin= sad sak of the Prope~. The uotiee
shall furlher inform Borrowet of the right to ~einstate sfler accekratan and the ri~ht fo ~ert is tbe fortclowrt Noeeedb~
thc non-eaislence of a defauN or ar~y other defense oi Borrower to accekntion snd toncbwn. If tbe brescb is ~ot ewed o~
or before the d~te specified ia the notice. Lender al Lcnde~'s optbn may declare *q of tbe sn+~u sectired by tAk Moe~e to be
immediately due and payable without further demsnd snd may foncbse this Mo~a~e by j~dkial rroceedia~. I~de~ s~
be entitkd to colkct in such proctedin` all expeoses of toreclosu?e. includiai. b~f aot Ifmited tq ttawuabk Ntoneys i~es,
and costs of docunnentary e~idence, sbstncts and tifk repo~ts.
19. Borrower's RiRbt to Reinstate. Notwithstanding Lendei s accelerat+on ot the sums secured by this Mort=ase.
Borrower shall ha~e the right to have any proceedings hegun by Lender to enforce this Mortgage discontinued at any time
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