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Lender's written a~reea~ent or applicable law. &~i~ower shail pay the amaunt of ali mortgage insunnce premiums in tho
manner provided under p~ragnph 2 hereo(.
Any amounts disbursed by Lender pursuant to this paragraph 7, wi~h intercst thercon, shall become additional
indeb~edness ot Botrower securcd by this Mor~gage Unle.s Bormwer and l enJer agrec to other terms of payment, such
amounts shall be payable upoo notice f~om [.ender to Barrowrr reyuecting payment thereof, and chall hear interest from the
date of disbursement at the rate payahle trom timr to time on outslanding principal under the Note unlesc payment of
intertst at such nte would be cont~ary to applicable law, in which event such amounts chall bear interest at the highest rate
permias~bk under applicable law_ Nothing contained in this paragraph 7 shall require i.ender to incur any ezpensa or take
any action hercunder.
t~ectiou, ~ender may make or cause to ht made reasanable enlriec u~+c~o and inspection~ ot the PropeNy, provideo
that Leodet shall give Borrawe~ notice prior to any such inspection speci(ying reascx~abie cause Ifieretnr related to 1_ender's
interest i~ the Property.
9. Co~dernnsfbe. The proceeds of any award or claim for dama¢es, direct or con.ryuential. in connection with any
condemnation or other taking of the Proptrty, or part thercof. or for conveyance in lieu of condemnation, are hercby assigned .
and shall !+e paid to Lender.
~ In the event of a tota) taking of the Pmpeny. the proceeds shall he apptied ~o ~he sums secured by this Mortgage.
with the exress, if any paid t~ Borrowec In thc evicet of a parteal taking of the Prnperty unlesc Borrower and Lender
oth~rwise agrce in writing. ~here shall be applied to the ~ums secun:d h}~ this Morteage akh proportion of the proceeds
as is equal to that proportion which the amount of the sums secured h~• this Mort~age immediately prior ~o the date of
taking bears to the fair market value of the Pmperty immediately pric.r to the Jate oi ~aicing. with the balance of the proeeeds .
paid to Borrower,
If the Propeny is abandoned by 8orn.wer_ or if. after nolice hy Lender tu Bc~rrower that the condemnor offers to makt
an award or setde a claim for damage~, B~~rrc.wer fails ti. rc.~nd tc. Lender within 30 days aft~r the date such notice is
mailtd. Lender is authorized to collcct and apply Ihe prc~ceeds. at Lender's option. either to rectoration or repair of the
Property ~r to the sums secured by this MortgaRe.
Unless I.ender and Borrower otherwi~e agrec in writing. any such applicatiun of proceeds to principal shall nol exteod
~ or postpont the due date of the monthly installmcn~s refcrrcd to in paragraph. 1 and 2 hereof or change the amount of
such installments.
10. ~orrowe~ Not Rekased. Ertension of the t;mc fi~r payment ~~r m~Kification of amo~tization of the ~ums secured
by this MoRgage granttd by l.ender to any cuccectior in intrrest ~f Borrow•er Sh~ll not operate to release, in any manner.
the lia6ility ot the original Borrow~er and Aorrower', succesK•rs in intere~t. Lender shall not be required ta commence
proceedings against such successor or refuse to extend time for payment or otherwice modify amortization of the sums
secured by this Mortgage hy reax~n o( am dem~nd made hy the uriginal Borrower and B~rro~er s cucces~or~ in intertst.
I1. Forbearanee by [.ender ~ot a Wai~~er. Any fonc~arancr by Lender in exerciting an~~ right ~r remedy hereunder. or
otherwise affordM by applicaMe law. shall n~t Fk a wai.•er oC ur preclude ~he exercise of am~ ~uch right or remedy.
The procurement of insurance or the pa}•ment uf taxes or other fiens ~x charges b~ Lender ~hal) nnt he a waiver ~f I_enders
right to accelerate the malurit~~ of the indebtedncss ~erured by thi~ Mongage.
12. Remedies Cumulatire. All remedies pmvidcd in this ;1larteaFe are disUnct and cumulative to am• other right or
remedy under this Mortgage or afTordeJ hy la~ rr ey~eit~. anJ may tx rxercised concurrendy_ independentl}~ or successively.
13. Saccessors and Assq;ns Bound: loiat and Serer9l LiaF?ility; C~plion~. Thc covcnants and agrrementc herein
contained shal) bind, and the right~ herrunder shall innrr t~. thr reSprrUve wcctss~~rs and assigns ~f Lender .~nd Borrower.
subject ro the provision~ of paragraph 17 here~.f All rovcnamti and agrremems of Borri~w•cr shall he joint and several.
The captions and headinge af Ihe p:+ragraphs rf thi~ Murtgagc arc fur <<~n~~enienc~ c?nly and are not 1o be used to
interpret or define the p~o~•icionc hercof.
14. Notict. Excepl for any notice reyuirtd undrr appnrahlr law t~~ br ei~~cn in anather manner. iai any notice to
Borrower provided for ~n this htortgaec shall bc givrn by ntailin~ w~h rn~~icr b~ rertificd mail addressed lo Borrower at
the Property Addresc or at such othrr A/IdfCSS a~ Rurrr~ver may designatc hy nutirr t~ Lender as pmvidcd herein. and
(bi any notice ro I_ender shall he givra by cer~~fied mail. re~urn rccr~rt reyucsted. t~. Lcnder'~ addreta statrd herein or to
sueh other address as l.ender may deci~natr hy nc•tire tu B~.rmwer ac pr~~vidrd herein. Any notire pmvided for in this
I?'(ortgage shall be deemed lo ha~~e Ixen given ~o B~~rr~~W~r ~~r Lrnder whrn g~ven in ~he manner decignated herein.
1S. Uaeform Morf~a~r. Governin~ Law; Se~erabiiity. 7h~s fc.rm c~f m~rtgage r~mhincs nniform rnvenant~ for national
use and non-uniform covenamc uith limii~,1 variati~~n. hy jurisdii~i~.n tn r~nst~~ute a uniform secnrity inslrument eovering
real property. This Mortgage shall tx go~•ernrd by thr law c.f thr juris~lirti~~n in which the Properl}' is located. ~n the
event that any provision or clau~e of thi~ 111~rtgege ~~r thr Note c~~nflict~ with applicahte taw•, such canflict shall not atfec!
other provisions of this Mortgage or ~hc NMr which can fn gi~~tn elie~t xith~ut the rnnflicting pm~~icion. and to this
end the provisions of the Mortgage and ihe tiate arc drrlercd tv hc severahle.
16. Bomnwer's Cop}•. Borrowcr shall F+~ furnisheJ a r~•nfrrmcd c~p~~ uf the Note :~nd of this Mortgage at the time
of execution or after recordation hereof.
17. Trat~sfer of the Pmpettt~; 4ssumption. If a!1 ~u any p:u~ of thc Pr~pert}~ ~r an iMerest thcrcin i~ sold or tra~~ferred
by Borrower without Lender's prior w~rit~rn cun~ent. rxcluding (a1 thr rreati~n o( a lien c.r encumhra~ce suhordinate to
- this Mongage. (b) the creation of a purchasr money securit} interes~ frr h~useh~~IJ appliances. (cl a trancfer h}~ deviu,
descent or by operation of IaN~ upon thc death ul a ju~nt trnanl ar ld~ ~he eram ~f an} teaschold intcrest ~f threc }•cars or less
not containing an option tn purchase, Lender may, at Lrnder's ~~pti~~n. derlare all the wm~ secured hy this Mortgage to be
immediately due and payable. 1_ender ~hall have wai~•ed iu~h uption t~~ accelerate if pri~r t~~ the sale ~~r transfer. I.ender
and the person to whom the Property i~ to Fx sold ~.r !ranc(rrrrd rcach agrerment in w~iting that the credit ~f wrh person
is satisfactory to Lender and ihat the intcve~l payable an the ~ums srrured h}- ~hic I~tort¢age ~hall he at such rate ac I_ender
shall request. if Lender has waived thc op~ie~n t~ arcelerale prrnidcJ in thi~ paragraph 17_ and i( B~rrower'c successor in
interest hac executed a written assumpti~n agr~~emenl arcepled in Kriting h~~ ~en~ler. Lender shall releace Borrower from all
obligations under this Mortgage and thr Note.
If Lende~ exerci~es such option M accelerate. ( endrr shafl m.~il Bc~rrowrr noti~e ~~f acreleratiim in accordance v~ith
paragraph i4 hereof. Such notice shal!-provide a periitid nf nni Ics. than 30 davs from the date the notice is mailed within
which Borruwer may pa}' the sumc declnred due If Rormwrr fails t~ pay such aum~ pri~~r tc• the expiratic?n ~f wch period.
Lender may, a•ithout further nc.~ice or demand ~n B~~rmw~r. imoke any remedies permitteci h~• paragraph IR hereof.
NoH-UNtFORtrf CovFx~rv7s. Borrower and 1 ender further c~~•cnant and agrce ac follows:
' 18. Aceelenlion; Remedies. Fxcept as pro.ided in par~raph 17 hereof. upon Eorrower's breach of any co~~enant or
agreemeet of Bonower in fhis !1lortga~e, includinR Ihe co~•ena~ts to pa~ w~hen due am~ sums secured by this Mort~a~e~ Lender
prior to accelcration shaq mail notice to Borrower as pro~•ided in para~raph 14 hereof specifyin~: (1) the brefch: (2) the action
requind fo core such bresch; (3) a d~te, not 1es91ban 30 d~~s from the date the notice is mailed to Sorrower. by whkh mch
Dreacl~ most be cured; and (4) that failure to cure such breach on or beforc the date speci6ed in the aotice tnay tesdt in
accelention of the sums secu~ed b~• thi. Mo~tgage. foreclosure by judicial proceeding snd sale of the Froperty. '[bt notke
sbsll furlher inform Borrower of thc right to reinstste after'cceleration and tht right to assert ie the foreelosure p~eceedi~
d~e non-existence of a defsuN or any other defense of Eorrower to acceleration aod forecbsun. If tbe breacb is aot eoeed oa
or before the date specified in the noticc. l.ender at l,ender•s option ma~ declare atl of the sntat secared by ihie Morta~e to be
ima~ediately due and payabk ~itlaot fuNher demand and may forcclose 1hiS !ltort=age by judiciat proctedin~. Leader s6aR
be e~tklei to coNect in suc6 piroctedi~ afl e:penses of forecbsure. includio6. but nM Huilted to, nasoAabk stiorety's ha,
aod cosis o[ documretary evidence, sbstracis and titk reports.
19. Borrower's Ri`bt to Retoslate. Notwithstanding Lender's acceleration ot the sums securcd by this Mort6s;e.
Borrower shall have the right to have any proceedings txguA by Lender to enforce this Mortgage disconeinued at any time
4~3 p~ 924
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