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1~ridrr'~ wr~tirn agrrrmrni ..r appli.ehir lav? Fi.~rn~v?cr tihall ~~a~ t~r amuunt rll murtga~;e inw~an:t prcm~ums in tAt
~nannrr r~„~~~i~,i u~~dcr par,~g~aph ~ ht~co(
An~ am~auu. ~h.h~n.rd b~ 1 rnJcr puiwanl tu Ih~c par.~graph 7. w~~h u~irrect Ihercon. shall l+tcome addhional
~n,lrh~rdnr.. li.xr~+..rr .ccurcd h~ ~h~. ~i~~r~~;~~r t'nlc.. R~~rr.,wrr and 1 rndr~ dRfM (0 othcr Iermc of payment, tuch
am~•unt~ .h~ll Fx ~a~•ahlc u~~n n~~ti~ r fr„m I rndc~ t~~ Brr~~~wrr r~yur~~ing paymrnt Ihcr~ol. a~~J ~hall htar interest ~ram the
.1a~e o( di~burKmem at the ratc pavaMe (r~~m lime ta ~~me ~~n t~ul~t:~nding pnncipal under the Nolt unlesc payment af
interesl at such ratc would hc rontrar~ applirablc law. ~n wh~ch rvrnt cuch ami•umc ~h.~ll hear interest at the Aighett ntt
{xrmissible under applicable law. NuthinR cun~ained m 1h~c parakraph .7 chall rcquirc I.ender to incur any expense or take
any action hereunder.
S. laspection. I.ender ma~• malr ~~r ~ a~~,~ t~• he madc rca~o~able en~riec upon and inspection~ oF Ihe Prope~ty, provided
Ihal t ende~ shall give Aurn•NCr n~~hcr pri~~r to ~m wrh mspe~t~on cpecifv~nR reasonabk cause therefor rclatod to Lender's
~nteresl m the Pmpetiy.
9. Condemnstion. The pn.c~eedc of any avvard ar claim tor damagrs. direct or consequentirl, in rnnnoction with any ;
rondemnation or other taking of the Property, or paA tAercof, or for convcyance in lieu of ccx~demnation, are hereby usianed
and shall be paid to Lender.
in the event of a tot~l taking of the Property. the proceeds chall t+e appliod to the sums srcured by this Mo~age,
with the excess, if any, paid to Borrower. ln the event ot a partial ~aking of the P?operty, unlcsc Bomower and Leoder
aherwist agrce in writing. therc shall t~e applied to ~he sums xci~rcd by th~ Mortgage sucfi proporlion ot the proceecis
as is equal to that proportion v?•hich ~he amounl o( the sumc secured by this Mortgage immeJirtety prior ta the d~tt of
taking bears to the fair market value of the Pn•pcrty immediately prior to the date of taking, with the balance of ~the proc~eds
paid to Borrower.
If the Property ic ahandoned h}• Bormw•cr, or if. ~ftcr notice hv I_endcr to Bormwer that the condemnor ot~ers to mtke
an award or ~et~le a claim for damagc.. Brrrc•wer fa~l, to re.~nd to Lender within ;0 days after the da~e such notice is
mailed. Lender ic authorized to collect and appl~ ~he prc~ceeds, at 1_ender'c option, ei~h~r to rrstontion or ttpair of the
Properry or to the sum~ .ecured by this Mongaec.
Unless Lender and Borrower otherwice agree in ~•ritine. any such applica~ion ~f proceeds to principa) shall not txtend
~ or po~lpone the duc date of the monthh• installmc~tc rcferrcd to i~ paragraphs 1 and 2 henof or change the amc?unt of
such ins~aliments.
10. Borrower Not Released. Extension of the time for payment or modiBcatinn of amortiz.ztion :,t the sums s~cured
by this Mortgage granted by I ender to any ~uccecsor in interect of Borruwer chall not ~perate t~ rclease, in yny manner.
the liability of tiie original Borrower and Bc?rrower'c ~uccessor~ in interest. i_ender shall ~M tk, mquired to cummence
proceedings Tgainst such successor or refuse to extenJ time for pa}•ment or otherwise mcxiify amort+zat~on of the iums
se~~ued by rhic Mortgage hy reason of any demand made b}• the ori¢inal Aorrower and B~rro•xcis s~iccessc~n in ~nleresi.
' 11. Forbeannce by I.ender Not a Waiver. Any fort~earance b}~ I_ender in exercising any ~ight ur remedy hereunder, c•~
atherwist aftorded by appticahle law, shall nM be a waiver of or preclude the exerci~ of any such right or rente~~•.
The procurement of insurance ~r the payment of taxes or other liens or charges by I.ender chall nc: be a waiver vf i.t~der's
right to accelerate the maturity of the indebtednecs cecured hy this Mortgage.
12. Remedies Cumuiati~e. All remedies provided in thic T?tortgage are distinct and cumulative to any othe- : i~.r•
remeJ~~ under this Mor~gage or afforded by law or equity. and may be eiercised rnncurrer,tly. indepenc~enti} ec s.K~:: s.+c+:
~ 13. Sneeessors and AssiRos Bonnd; .7oinf and Several i.iability; Captbns. The covenants and agicer.ze*~s ::c:
contain~d shall bind, and the riRhts hereunder shall im~re to, the respective succe;sors and a~stg~s of Lender :+od Ba:oYc
s~bject to the provisions of paragraph 17 hereof. All covcnants and agreements of Borrower ~:iall be jairy a~d sev~::
'il~e captions and headings of the paragraphc of this Mortgage are for convenience o.,l~~ and are not t~ be uss~
interpret or define the provisions hereof.
14. Notice. Excepl for any notice required under applicable law m!~e given in anothet manner, (a) anv ne,e-c
Borrower provided for in this Mortga¢e shall be given b}~ mailing such notice by rcrtified ~:i~it :?ddressed to i~c~rmwrr rt
the Property Address or at such rnher address as Borr~w•er mav decignate by no~ice to !_ec ie: as pr~vided ~escin, ae:`
(h) any notice to Lender shall he given hy certified mail, retum receipt reyuested. to l.ende:'t addrtss stated herein ~r
~ cuch other address as [_ender may decienate hy nntiie to Barmuer as ~ro~~~dee? hr~ein. a~a~ notice pmeideJ f~x =a 'h=:
Mortgage shall be deemed to havc t+een g~~•en Io Borrowcr or Lender u~hen given in the r~~anner designated htrein.
15. Uniforni MortRa~e; GoverninR I.aM; Se~~rabilif~. This form of mortgage combines uni'~~rm covenants for nati~~•:~:~
p use and non-uniform covenantc w•ith IimiteJ variations h} juricdiction t~~ constitute a ~niform ~urity instrum~nt eo~enrg
real property. This Mortgage shal! bc govcrned hv ~he I~w of the jurizdicuon +n which the Property is iocated. In the
i event that any provision or clau~e of thic Mortgage ~~r the Note conflicts Nith applicahle law, such conflict shal) not aRec2
other provisionc of this Mortg•rge or the N~,tr wh~ch can be given efiect with~ut the eonCicting pru~~ci~~, and tn ;'r.
end the pro~~isionc af the Mortgage and ihe '~1c~te arc Jeclared to he severable. -
F 16. Borrower's Copy. Borrower ,hall bc furni~hed a c~nformed c~~py of the N~te and of this Mort~tage at the titrr
~ of execution or after recordation here~~f.
f •
17. Tnnsfer of tbe Properiy; Ascumplion. If ~II or an}• part of the Property or an interest thtrcin ic sold or transfenc• ?
; by Borrower wilhout I_ender's prior writ~rn c~~ment. e~cluding (a) the creation of a lien or tncumbrance subordioate s.1
this Mortgage. (bl the creation of a pur~h~cr mi~nc~ tecuril~~ interest for household a,~pl~ances. (c) a transfer hy dev~sc,
~ descent or hy operation of law upon the Jcath jc.~nt tenant or fdi the granl of any leasehoid intercst of threc pears o: 2esc
3 not containing an option to purchase. Lender may. at 1 en~er'c c.phon. dec~:~re all the sums secured by this Mortgage to ~e
immediately due and payable. Lender ~hall h:,~e ~.uved ,uch option to a::~lrrate if, prior to the cale or transfer. Lender~
~ and the person to whom the Proper~y i. t+c .c.l.f ..r transferred reach agrc~ment in wr+ting that Ihe credil of ~uch per~c~n
is satisfactory to I.enJer and th~t the in~rrr.t papable on the sums secured by~ this Mor~gage shall be at s~ech rate ac l_ender
' shall request. !f I.ender has waived thc opt~c~n t~~ accelerate provided m this paragraph 17, and if Borrower's succ~sso~ in
~ interest hac executed a w•ritten assump~ion agreement accepted in wriiing b}~ [.ender, I.ender shall release Borrower from all
• obligations under this Mortgage and the Note.
If Cender exercixs s~~ch opUan t~ acceferate. LenJer ~hail mait Borrower notice of accek~ation in accordancr ~~h
paragraph 14 hercof. Such notice ~hall prov~de a period of not less than 30 days trom the date the notice is mailed within
which Borrower may pay the sumc deciared due If Borroµrr (aits to pay such sums prior to the expintion of cuch peri:~d.
Lender may, without further notice or dcmand on Borrower. ~nvc,ke any remedies perm~aed by paragraph 1 R hercof.
NoN-UrnFOatit CovE!v~NTS Borrower and l.cnder further covenant aod agree u follows:
18. Accelenlion; Remedies. Except as prorided in psra~nph 17 hereof, upon dorrowers brtacl~ of any coveaaat or
agreement of Borrower in this Mort~a~e. includin~ the corenants fo pay r.hen due sny sums securcd by fhk Morl~a~t. Lender
prior to sccekntbn shdl mail ootice to Borrower as prorided in parsaraph 14 hereo[ specNyin~: (1) fhe breich: I21 the actbw
requind to cure snch brcach: (3) s date. not less ~han 30 days from the dsle the notice is mailed to dorror.er, by whkh wcl~
b~each must be cured: and (4) Ihat failurc to cure such breach on or betore Ihe date specified iw the notkt msy resalt i~
accckration of tbe sums sccurcd by Ihis Mort~aRe. to~eclosure by judicid proceedin~ and sale of the Prope~. 'ilie notke
shdl furthcr inform eorrower of the riAhl to reinstste a(~er accekralbn and tht ri~ht to asscrt in fbt toreclosure proceedi~
the non-existeoce of a defauH or ~r other defense of eorro..er to ~cctkrstion ind toreclosure. It the brt~ch is nof cared o~
or betore the dste specified in the noticc, t.ertder ~t I rnder's optbn mar declare aq ot the sa~ sterred by this MoR~a~t to bt
_ immediately due snd payaDle withoul turthcr demand and m~y forrclose tfiis Mort~a~e br judicW Proeeedin~. I.ender chall
= be eotitlcd lo collect in such proctedinR ~II e:penccs ~~f toreclosurc. includin~. b~t aot Bmited lo. reason~Dk stl•~rneti's fees,
ard co~ of docameatary evidenc~~abstncts and Iilk reports.
- l9. dorroner's Ri~ht 1o Reipstste. Nutwith~tand~n~, 1 e~der's accderation of the sums secured by ih~s Mongagc.
Borrower shall have tht nght to have am pr~xe~d~ne< txF~~n b> Lendtr t~ enforce thu Mc?r~gage discontinutJ at any~ I~mt
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"r ~15 ~~~~E 996