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Lender's written agrctment or appl~cabk law. 8orrower shall pay the amounl o[ all mortgage insuiance prcmiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by 1_ender pursuant to this paragraph 7, with inttrcsl therco~, shall bccome additio~al
indebiedness of Borrower sccured by tfiis Mortgage. Unless Borrawer and LenJer agrce to other terms of paymcnt, such
amounts shaU t+e payabfe up~m notice from l.ender to Borrowtr requtsting payment thereof. and shall bta~ interest from the
date of dicbursement at thc rate payahl~ trom t+me to time un outstanding principa{ undtr ihe Note unless paymsnt of
interest a~ such rate would be contra~y to applicable law, in which event such amounts shall bear interest at the highest ratt
permissible under applicable law. Nothing contained in this paragraph 7 shall require I_ender to incur any expense or take
any action hereunder.
S. Inspecfioo, I.ender may make ac caust to be made reatonable entries upon and inspections of thc Proptrty, provided
that Lender shall give Borrower naice prior to any such inspection specifying reasonable cause therefor related to l.ender's
interest in the Property.
4. Condemnatbn. The prcxeed~ af any award or claim for damages. direct or consequential, in connection with any
condtmnation c•r other taking of the Property, or pa~t thereof, or !or c.~nveyance in lieu of cor+demnation. are hercby assigned
and shall !x paid to l.ender.
In 1he eveM n( a tolai tal~ing of the Proprny. ~he pnxeeds ehall t+e applied to Ihe ~ums secured by this Alortgagt.
..•ith the erce~s, if any, paid to Borfower {n ~he evem of a partial ~aking oi the Properry, unlecc Borrower and i_ender
otherNi~e agree in w•riting. there shall be applied Io Ihe cums secured by this Mortgage u~ch proport~on ot Ihe procetds
as i~ equal to thal pm~~nion which thc amuunt of the sumc ~eeurcd hy thic MortgaRe immediately prior to the date of
taking bear~ to the fa~r market value of ~he ProExrty immediatel~• pric~r ~o the date of taking. with the balance of the proceeds
paid ta Borrowe~.
If the Pmperty ic ahandoned by Borrower. or if. after n~tice bv I ender to B.~rrowe~ ~hat the condemnor offers to make
an award ~r settle a rlaim f~~r dani,,er~. A~~rrc•w•er fa~l. to re,~nd I ender withm ?0 days after !he date cuch noNce is
maifed. [.ender iti authorired to collect and appl}• the prc.ceeds at Lender's option. either to restoration or repair af the
Property c~r to the sum~ ce~ured hy this hlnrlgage
Unles. 1 enJer and BorroNrr i~iher~iu agree in ~riting. an~• cu~h applica~i~n of proceeda to principal chaU not trtend
.~r poctpone Ihe due ~late ~~f thr monlhlt installmentc referrcd to in paragraphs 1 and 2 hereof or change the amount of
sucfi ~nsta{Imenic. ~
10. Borrower Nut Rdeased. Frtenti~~n of the t~me f~•r pa~ment or modification of amarlization of tht sums secured
by th~s Mort~age grantrd hv I enJer t~~ any ~u~ce~sor in intere~t uf Borrower ~hall not operate to release, in any manner,
the liabili~~ u( Ihe OriGinal B.~rroHer and H~~rrow~r'~ surces«~r~ in interest I.ender ahall nat be reyuire~i to commence
p{~•ceedinKs ag~in~t t~rch ~iTCrec~c.r or refu~e t~~ et~end time (or payment or otherwi~e modify am~~rtizaUon ~f the sums
tierured M thi. Mi~rtgage h) rea~.~~n o( am- dema~~d made b~ thr ori~~na! Borru..•er and R~rmw•er's s~~ccescor~ in interest.
11. Forbearance bv Lender Not a Wai.~er. .4nv (~~ri.earanrr h~• 1 ender in erercicing any right or remeciy hereunder, or
~~thrrw~se afiorded h}~ applicahle law. ,hall n~.t be ~ waiver ~f ~~r preclude the etiercise of any such right or remedy. ~
The prckiirement of insuranre or the payment of t~~c. ~~r i~ther tient ~~r charge~ hy I.ender shal) not be a waiver of I ender's ~
r:ght t~~ accelerate the maturity of the ~ndehtedne~c ~r~ured hy thi. Murtgage.
12. Remedies Cumulalive. All remed~es prrnided in thi~ Murtqage are ~istinct and cumulative to any ~ther right or
reme~iy i~nder th~s Mi~rtgage or afi~~rded hy law ~,r eyuity. .,nd may t~ eterc~seJ c~ncurrently. independemly or succe~sively.
13. Successors and AssiRns Sonnd; Join1 ~nd Se~eral I.iabilify: ('aptions. The covenants and agreements herein
contained ~hall hind, and th~ ri¢hts hereunder ~hall ~nure t~~. the rr.pecti~~e succettort and assignc o! [ ender and B~rrower,
,ubject to ?he provition~ nf ~aragraph 17 hereoL :111 cc~ven~ntc and agrcement~ of Borrower shall bc jo+nt and teveral.
The caph~~ns :inJ headinge of the para¢raphc t~f thi~ ~1~,ngage are for ronvenience only and are not t~~ he used to
~nterpret or define the pru~i~ions hereof.
14. 'Votice. Exrept f~r anp noti~e reyuired under applicable law ta be give~ in an~,ther manner, (al any notice to
B~~rmwer pmvided for ~n thic Mortgage shall he gi~rn hy mailinK ~urh nohce by' rerlified mail addretsed to Bormwer at
thr Propen}• Addre« <~r at ~uch uthrr aJdres~ a~ B.~rr~~~er mac de~ignate b~ n~tice to 1 enJer as provided herein. and
(h? am n~~tice to I_e~der ~hall he gi~en h` crrt~ficd ma~l. ret>>m rrce~pt requested. t~~ 1 en~ier'~ address stated herein or to
such ~~ther addrest ac I ender ma~ decignale h~ n~.ti~e t~~ B~xruwer as pro~~ideJ here~n Any notice provided for in this
; ~ic~rtgage shall he deemed t~~ fia~e hccn g~~en to B~rr~~wer ~~r 1 rnder when g~ven in the manner detignated herein.
15. t'niform Mort~a~e: Go~~erninR LaN; Se.erability. Thi. furm ~~f mortgage rnmhines uniform covenam~ h~r national
utie an~i ni~n-unifi~rm icnenant~ with limite.l vartati~~~s h~ ~+tins.{~cti~~n 4c~ c~+~st~tute a uniform serurity instrument co~•ering
rr:~~ E~~~~F~!•ttt. 7~hi• ~t.iir :init lural i:t~cc :tp~~licaLlc• tu thi~ ~i~~~•t~{;~Ki• .hal~ I~e thC l;.tu~ uf iht• ~U~i~dicti6n ia whlch the l'~'upC['ty
'i i.: i~,~:~tr~3. Th~~ f~,rrK~~fuF ~rntenit• :hali n~~t limit the applirabilit~ u£ frdrral i.«<' tn thi~ JfortgaKe. In fhe e~•ent that .tny
~ ~~c~~~:<l~~u ~~r ~ 1:~.~-~~ ~~f tkii: \1„rtK:;ycr th~• \~,tr c„nfti.ts ~~'ith :ippiirable 1a~~'. sui•n r~mflirt ~hall t:r~t affect uther pn~c~si~ms
~ ~~f t1~3~ ~1,~rt~:~Kt• ~~r th~• \~~te ~~hi~•h c:~n hr tri~~n effect nith~~u: thr r,~nfli.tinx pruci:iun. xnd tn thi~ end ihe 4~ru~~i.;irrn~ of the
.il~~rt}:~)[r :ui~i tn~• .ut• d~>cl:+rEil tu be ~ecer:iblP.
F 16. Borrower's Cop~. Bormwer ~hall hr furn~~hrJ .i cun(rrmed r~~p)' uf the N~~te ~nd ~f thit Mortgage at the time
uf etrcution or atter re~~~rdation here~~L
~ 17. Tr~nsfer of the Propert}: 1«umplion. 1( a!1 ~~r am par~ o( the Pr~~perty or an interest therein i~ sold or tran~ferred
€ h~ Be~rr~~wrr ~ith~~ut Lender's pri~~r µrit~rn :~~n~en1. e~rluding ~a? the ireati~~n of a lien ~~r enc~imhrance tutwrdinate to
~ thiti '~1~~rt~;agr. IM the creaU~~n ~~f .i purch:i~e rn~me~ terun~~ inlerest f~~r h~~usehi~W appliances, Ir) ~ tran~(er h~' devise.
E Je~cent .~r ht uper~tion uf la~ upe~n thr ~leath ~~f a j~~~sit tcnant e~r {~1~ the grant of an~~ feascfinld interest ~~f Ihree r~ear~ c~r lecs
~ rn~t i~~ntaining an ~~pti~~n t~~ ~urchasc. 1 rnder ma}. at I ender'. ~~plinn, der~are all the wm~ secured hv this Mortgage to be
~ ~mm~J~atrh~ due and pa}•ahlc t rndrr ~hail ha.e Na~~ed ~nrh optie~n to accelerale iL pri~r t~ the ~ale or transfer. I enJer
~ an~1 the persi~n t~~ uhe~m 1he Prrprr~}• i. t~~ he «~1~1 i~r tranSfrrred reach agreement in writing that the :redil ~f such person
~ i~ sau~fa.tur~ t~• 1 en~ler and that thc interc.t ~atahle rn thc ctim~ ticcured h}• thi~ M~~rteage sha{I bc at snch ra~e a~ I ender
B ~hall reyuetit If 1 ender has a~i~e.i thr e~pti~~n t~~ acceier,~tr pr~~~deJ in thi~ paragraph 17. and if B~~rmwer't successor ~n
interect Fa~ executed a wrilten as~umrhi~n agrecment acrr~ted in writing hy LenJer, Lrn~ler shall relea~e Borrower from all
E
< <•bligatu~nti under thic Me~rlgaKe and the Ni~te
~ If i ender e~erci~e~ ~uch ~~pt~~~n t~~ a~celrr.~te l rn~l<< ~h.sll mai! Bc~rrc~~er n~.tice ~~f :+cceSerati~~n in accordance with
paragra`h 14 here~f Such n~~tice ~h:~ll pruvide .i prn~~.l ~~f n~~r 1«ti ~han 3~ da~~ (r~~m the date the nc~tice i~ mailed within
s
~ tihiih Brrr~~~er ma~ {~a~ the ~um~ dcrl.uc~1 dur I! R~~rr,.HCr (.nl. ti~ pa~ ,iiih ~umc pn~~r ti~ the erpirah~n ~~f ~urh penod.
~ I crs~laf m.ri. w~tfi~~u1 fur!h~r n~~ti« <~r ~iemand :~n ti~irn~ucr. in~~~l.c any rimedies permrtte-l h}' paragraph 18 hereof.
~i~)v-~`NIFOQRI C~~ri'F'Y~VTS 8c~rmwer ard I ender further c~venant and agree as follaws:
18. Aceeleration; Remedies. Except as pro~ided in para~r~ph 17 hereof. upon Borrowe~'s breach of any covenant or
aRreement ot Borrower in this ~1orlRa~e, includin~ the co.e~ants to pa) when dut any sums secured by this MortRage. I.ender
prior ro ucelcr~tion ch~ll mail notice to Borro..er ~c procided in QaraRraph 14 hereof specityin~: (l) the breach: (2) the actioa
required to cure such breach; (3) a d~te, not lets Ihan 30 d~~c from the date Ihe nofice is msiled lo Borrower. by which such
bre~ch must bt cured; and (4) Ih~t failure b cure cuch brcach on or before the date specified in the notice may resulf in
acreler~tion o( tifr sums securcd by fhis MorlRaRe, forcclocure by judiciat proceedinR and s~te of tht Properiy. The eotict
shall further ioform Borrower of the ri~ht to reinctale tifler accelcr~tioo ~nd lhe riRht to usert ia !he foreclosure proceedit~
the non-exictence of a default or ~ny other defense of Borrower to acceleration and toreclosure. If the breach is not cured on
or beforr Ihe dale specified in the notice, I.ender at l.cnder's option may declare ~I) of the sums secured by this Mortgagt to be
immedi~tety due and par~b{e wi{fiout furlher dem~nd ~nd may forectose this MortRa~e by judicis! proctedin~. I,ender shail
be entitfed to collect in such proceedin~ al! expenscs of foreclosure, including. but not limited to. ressonable attorney's fees,
~nd cosls o( documentary evidence. abstracts and titk reports.
1~. Borrower's Righl to Reinstate. N~~twithctanding I.en~er'~ accelerahon of the sum~ secured by this I~iortgage,
Borrower shall have the right to have an~ prcxeedings hcgun h~ 1 ender to enforce this tilortgage discantmued at any timt
~~r~K4t~8 pa~E 92~
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