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Leed~r's written a~reemci?t ot appl~~ahk law. Borrowe~ shall pay the amount ot all mortga~e insurance premiums in the
manner provided unde~ paraaraph 2 harco(.
Any artwunta disbuned by I_encier pursuant io this paragraph 7, with inlercst thereon, shall become additional
~ndeblednets of Borrower securcd by th~s Mortgage llnle.~ Bo~ro~cr ~nd 1 cnder agrr.c to other terms of payment, sucfi
amounts shall be payabk upon notice from l.ender t~~ Borrowrr rryutti~ing paymtnt Uxrrnf. and chall hea~ intcrest fmm the ~I
date of d'esbursement at the rate payahle tr~~m time to time an outstanding principal under ~he Nae unksc payment of
i~terat at tuch ntt would be contrary tu applirable law. in which event such amounts shall bcar interest at the highcst rate
permisst'b{e under applicabk law. Nothing contained in this paragraph 7 shail rcquire I.ender to incur any expanse or take
any action hercunder.
t~eeW~. I_ender may make or cause to he mad~ reacomble entriec upon and inspections ot the Pmperty, providcd
that L~mder shall give Borrower notice prior to any such ins~ction cpecif}ing reasc~r~able cause therefc~r rcla~ed to I_ender's
i~terest in tht Pr~nperty.
- ',t. CM~e~lisw. T1?e proceedc of an~ award or claim for dama¢es. direc~ or con,cyuenti~i. in connection with any
coo3el~nitjph,or othtt taking of the Property, or pan thereof. or for a.nveya~ce in lieu ot condemnation, are hereby assigned
and s~u~1 ~c ~pi1A to Lendu.
M the eveRtof a total takin¢ of ~he Pn.Exrty the proceedc shall he applied k~ the sums sezuted hy Jhii-J?~lortgage.
,
wiA~ the•eaees?, if any paid to Borrower In ~hc cven~ i.f a partial ta~.ing ~.f th~C~~'rRiptri_y ~tmktt•$orro~veN and Lender
otl~erwis4 sgryap i~ writing. there shall be apphed to the cums secumd hy this Mc?rteage sit~=fi ~en of ~~ie proceeds
1~14~! :
as is egwl to.fhat proportion which Ihe amoun~ o( ~he cums sec~~red hy this Mortgage immtdialQly. Rrecu,;lo ~?e date of
takie:bears td tf~e fair market value of the Prupert~ ~mmrdi~tely ~ri~~r ~o the ~ate ~t taking, with the balance of the proceeds
paid to Horrow~er.
If the Pr~perty is abandnned hp Bormwer. c.r if. after n~~tice hv Lendrr to Bnrrower that the condemnor ofFers to make
an award or settk a claim for dama¢r.. B~~rr~~wer fa~ls re~Ex~nd t~ lender within 30 days after the da~e such notice is
maikd. Lender is authorized to colfect and appiy ~he proceeds. at Lender's option. either to restoration or repair of tht
Property or to the snms secured by this Mortgage.
Unttss [.ender and Borrower otherwi~e agree in wriling. any wih appl~cation of procetds to principal shall not ezteRd ;
or postpone the due date of the monthlti ins~allmcnts referrcd to in paraeraph~ 1 and 2 hercof or change the amount of ~
such installmcnts. I
1~. Eorrower Nol Rekssed. Etten~i~n ~~f ~he timc f~~r ~avment or mc•difiratiun of amorlization of the sums secured
by this Mortgage granted by I.ender t~ am~ wccetisc~r in intrrest of Bc~rmwrr Shall not operale to release, in any manner.
the liability of the original Borrowcr and R~~rrower', surces~~~r~ in interect. Lender shal) not be required to commence
proceedings againsl such success~r ;~r refuse t~~ extend time f~r payment or othen.ice mcxlity amortization of the sums
secured by this Mortgage by reac~~n of am demand made hy ~he uriginal Rorrower and B~rrower's c~~ecesuirc in intercst.
I1. Forbtar~nce by I.ender'Vot a VYai~er. Any furhearancr by Lender in exercicing any right or remedy herevnder. or
othenvist afforded by applicahle law. shall rn~t tx a w~ai~~er c~f ur preclude the exercise of anv wch right or remedy.
TAt procurement of insurance or the pavment ~~f taxes or othtr licm ~~r :haryes by~ Cender ~hall not he a waiver of l.ender's
right to accelerate the maturity of the indebtedness ~r_ured hy this !~longage
12. Rea~edits Cmm~tati~e. All remediec ~r,•~~ded in this !11i~rteage are ilitunrt and ci~mulative to am• i.lher right ~r
rcmedy undrr this Mortgage or afl'~~rdcd hr law ~~r ryuit~. an~ may Fx exerr~~ed cc?ncurrenth•. independentf~~ or successivel~~.
13. Saceessors and Asse~;ns Bound: Join~ and Sere~! Lial?ility; Captiom. Thc rnvcnams and agreement~ hcrtin
contained shall bind, and thc right~ hrr~under shall innrr tc•. thc re.pe.ti.c ~ucress~~n and assigns ~f 1 ender :ind Borrower.
subjtct to the provision~ o( para¢raph 17 hrrc.~t -~II ca~•cn:in~~ and agrremems ~~f ~rm~a•cr shall ht j~int and several.
The captions and htading~ ~f the paregreph~ thi. M~ngdgr arr fur :c~nvenirnce ~nly and are n~~t t~~ he used to
interprct or define the pro~~i~ii~n~ here~f.
14. Notice. Eacept for an~~ notice reyuirrd uniler appn.ahlr law t~. be Fi~•en in ar.i~ther manner. (al any notice to
Borrower pmvided for ~n thi~ Mortgaee ,hall tx ~~~rn by ina~linb ,urh m~n~r 'v~ certified mail addres~ed ta B~rrower at
the Property Address or at such othrr addrrss ac Burr~~.ver may de~ignatc hy n~~tire tn Lender as pr~~vidcd herein, and
(b) any notice to l.ender shall be given b~ :rnifir.i ma~l. rrtum rz:r~~t reyuested. tc. Lender'S addrecc statrd herein or to
such oth~r address as I.ender ma~ designa?e hy n~~ti;r tv B~~rn~wer a~ pn~vidr~l hcrcin. Any notice pr~~videJ for in this
I?tortgage shall be deemed to ha~e heen g~ven In Rc~rmwCr ur Lrnder whrn given in the manner decignated herein.
' IS. Usifonn Mort~agr, GoverninR Law; Severability. Th~s fnrm mongage c~mhines uniform c~venant~ for national
~ use and non-uniform covenants Nith limite~l ~anatii~n. hy jurisdi:tii~n t~~ r~nstitute a uniform security instrument covering
! rcal property. This Mortgage shail be g~~vernrd by thc law ~f ~hr juris~li~hon in which the Property is I~x-ated. In the
f event that any prrnision or clau~e ~~f this Mortgage or the Vote ,c~nflirts with aprlicahle law•, such conflict s~:all not affect
; othtr provisions of this Mortgagc ~~r thc 1\~tr wh~nc ~an bc gi~cn etTect Nithout the rnnflicting pmvicion. and ro this
~ end the provisions of Ihe Mortgagc and the \„tr are drelarcd tu hc severahle.
~ 16. Eorrower's Cop}•. Borrowe~ ~hall hr furm~he.f a a+nf~•rmed rnp~~ ~~f the N~te ~nd c~f this Mortgage at the time
of execution or after recordation hereof.
~ 17. Trsnsfer of tbe Pruperty; Assumplion. If all ~~r any ~art ~f ~hc Pr~~Exrt~~ ~r an intere~t thcrcin i< «ld or tran~ferrcd
i by Borrower without Lender's prior writtcn c~~n~ent. txcluding Ial ~hr rre:iti~n ~~f a i;en ~r encumbranre suhor~iinate to
~ this Mortgage, (b) the creation of a purchase m~~ney ~ecuril~~ interest fi+r h~u~eh~~ld appliances. (c? a trancfer h~• deviu.
~ descent or by operation of law upon the dea~h uf a ju~nl tCnant ~~r (d~ thr erant ~f am• leeuhold intcrest ~f threc ~~cars or less
~ not containing an option to purchase, Lender may, at Lrnder's ~~pti~m. de~tare all ~he wmti secured hy thic Mortgage to be
immediately due and payable. t.ender shall have w:,ned wrh option i~~ accelerate if ~ri~r tc. the sak ~r transfer. l.ender
~ and the person to wnom lhe Property i~ to be sold i~r tr;int(Crrtd reach agreemcm in writing that thc credit ~f .uch person
E is satisfactory to Lender and tha~ Ihe inttve.~ payahle ~n the .ums xcured hy- thi~ 111ortgage shall be at such rate as 1_ender
~ shall requut_ lf I_ender has waived the op~ii~n t~ arczlerate prrn~idc~ in thi~ paraeraph 17, and if R~rrow~er's ;uccessor in
g mterat has exauted a written astumpli~n agrcemen~ accepied in wri~ing h~• Len~ler. Lencier shall relea~e B~rrower from all
r` obligations under this Mor~gage and thc Nc.tc.
~ If Lender exercises such ~ption te~ acrelrratc. ! ender shall m;~ii Be~rr~~wer nuticc ~f ;icceleralinn in a~cordance with
~ paragraph 14 hereof. Sutb notice chall provide a perio~l ~~f ma !,s. Ihan 3f1 days frc.m the date the notice is mailed within
which Borrower may pay the sumt declared due if R~~rr~.wrr faih i~. pay such cums pn~r t~ ~he expiration c~f wrh period.
~ Lender may. w•ithout further nrnice or drmand c~n B~~rr~~wrr. invoke any ren~edies permilteci h~• paragraph IR hereof.
~
~ NON-UNIFORM COVEN~!vTS. Bnrrower and I ender further cm~cnant and agrce as follows:
~ 18. Aceekniion; Remedies. Except as pro~•ided in pa~raph 17 hereof. upon Eorrower's breach of any co~~enant or
a~nemeat of Eorro~ver in this 1ltortg~e, inciudin~ Ihe co~~enanls to pa~ whert due an~~ snms secnrcd by this Mort~a~e, [.eader
prior to ~ccekntioa shafl ma7 notice to Borrower as pro~ided in para~r~ph 14 hereot specifyin~: (1) tht breach; (2) t6e actan
requtred to care wch breach; (3) ~ date, nol lesv th~n 30 d~~s from the date the notice is mailed fo Borrower, by whk6 soch
breach oest be cured; and (4) that failure lo cure such breach on or before ti~e date spec~'ied ia the ootice may restat in
sccekratio~ o[ t6e snms stcured by this 111ortgage, foreclocure by judicial proccedin~ and sde of the Propttty. 'Ibe wotice
shatl f~rtbtr ietorru SorroKtr of the riRM to reinstate after accderation and Ihe ri~~t to ~ert in tfie foreclosore protetdi~
~ t~e pon~exktence of a defsult or aar olher defense of BorroN•cr to accelrration aed foredos~rt. If tbe bresc6 is oot evred oe
3 or betore tre date specf6ed ia the notice, I.endcr at Lender's option ma~ declare a0 of tfie saa~s secrrcd by thie Morts~e b be
~ is~ dye a~d payabk wklwu~ furiher demand and ~nsy forcclose this Mort~a6e ~y jadicid proceedda~. Lesier ~Ydl
~ re eNide+ b coiec~t ~ sscb procce~i~ all e:penses of toreclosurc, includi~, brt ~of Y~uited to, reawea6k atlorse~'~ (ees,
y awd c+osri d/oe~aestary erldeoce, abstrscts a~d titk rcports.
1~. fortaweT's R~~t to Reiastate. Notwithstanding LenJer's accelerat~on of the sums xcurcd by this Morfaage,
Borro~aver shall have the nght to have any proceedings hegun by lender to enforce this Mortgage discontinued at any time
( B11t1! PdGE ~
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