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~ ~aragraph l~i hereof. Such n~~tice thail ~rovide a~eri~~.l ~~f fi~~l les~ than 3~ da~~s fr~~m the date the n~tice ic mailed uithin
~~hi~h Bnrmµer ma~ ~a}~ the c:~ms declare~l di;e. If B~,rn,~.~~r f:lil, ?e, ~,a~~ curh .ur~~ prinr t~~ thc e~~ir:~ti~,n ~~f `uch p~ri~,d.
Ler.der ma4•. ~~ithoi~t further no!ice nr ci~mand ~~n tic~rrr~+er. ~n~ri.e an~ r~~iedie; ~+ermitte~i h~• paragra~h iR hereof.
~o~-UxtFOk~t CovF~a~-rs. 3~rrower and i.ender further c~~enant and agree as follows:
18. Acceleration; Remedies. Except as pro~ided in para~raph 17 hereof, upon Borrowers breach of an} co~-enant or
aRreement of Bonoµ~er in this ilort~a~e, includin~ the co~enants to pa~ w~hen doe an}~ sums secured by this ~1ort~age, I.ender
~ prior to acceleration shall mail notice to Borrower as pro~~ided in paraRraph 14 hereof specifying: (1) the breach; (2) the action
- required to cure such breach; (3) a date, not less than 30 days from the date the r~otice es mailed to Borrower, by µhich such
breach must be cured; and (4) that failare to cure such breach on or before the date specified in the notice may result in
acceleration of the sums secured b~ this iiortKage, foreclosure by judicial proceeding and sa{e of the Pmperty. "Il~e notice
~ shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the forectosure proceeding
the non-existence of a default or an} other defense of Borrower to acceleration and foreclosure. If the breach is not cured ~n
- or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this Mortgage to be
~ immediately due and pa~~able w•ithout further demand and ma~ foreclose this '~1artRa~;e by judicial proceedinQ. Lender shalt
be entitled to collect in such psoceedin~ ali expenses of foreclosure, includin~;, but not limited to, reasonable aEtorney's fees,
~ and costs of documentary e~idence, abstracts and title reports.
I9. Borrow~er's Right to Reinstate. Notwith;tanding Lender'ti acceleratian of the sums tiecured by this Mortgage.
8orrower shall have the right to have am proceedings hegun n} l.ender to enforce this ~lortgage discontinued at any time
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Lender's written agrcement or applir:ible la~ti. Borrv~er shall pay thr arnuunt of all mortgage insur:+nce premiums in thr
manner provide:l under paragraph 2 hereof.
Any amounts disbursed by Lender pur.uant to this paragraph 7, with interest thereon. sh~ll become additional
in.lehledne;s of Borro~er secured h~~ Ihic Mortg:ige. l!nle~~ Borrowcr an~ l.en~ler agree to other terms of paVment, such
~mounts shall he pa}~ahle up~~n notice from I.inder tu Borro~~~r rcyue.ting pa~•ment there~~f, and shall bear interest from the
~iate of di~bursemcnt at the rate payahle from timc to time on autst:~nding principal under the Note unless payment of
interest at such rate ~~~ould be contrar~~ to applicable law, in H-hich e~•ent such amounts shall hear interest at the highest rate
permissible under applicable la~~. Nothing rontained in Ihis paragraph 7 shal! require I_ender to incur any expense or take
any action hereunder. .
8. InspecNon. [_ender ma~• make or cause to be made reasonahle tntriee up~~n and inspech~~nc of the Property, provided
~t~.,t I.ender shall gi~•e Burrower notice pri~,r ta any such inspection spccifying reasonable cause therefor related to I_ender's
int~rest in the Pmperty'.
9. Condemnation. The pnxeed~ of .~m• aH ~rd or claim for damaees, direci or c~~nsequential, in cannection with am
condemnation or other taking of the Property, ur part thcrcof, or for con~~}•ance in licu of condemnati.~n, are hereby assigned
an~i shall hc paid to Lender.
in the e~•ent of a total taking of the Propcrt~~. thc pro~eeds ~hall he ap~lic~i tu the tums secured b)' this Mortgage.
~~ith the cYCess, if an}•, paid to Borro~•cr. In the e~•ent ~~f a partial taking ~~f thc Propert~~, unless Rorrow•er and i.ender
u?herw•ise agree in writin~. there shall t~ applied to the ~ums securcd h}~ thi~ Mort~age such proportion of the pra:eeds
as is eyual to that pmportion «~hich the amount ~~f the sumc ~ecured h} thit ~tortgage immediatel}• ~rior tc~ the date of
taking hc:ars to the fair market value of the Pru~:rt~ imrnedi~tcl)' pri~r to lhe ~ate of takirg. ~+ith the h~lance of the proceeds
paid t~ Borrower.
If the Property ic abando~ed h~• Borm~~~_r, or if. after notice h~• Lender to Borrow~er that the condemnor ofTers to make
an a~~ard ~r settle a ~laim for d.tmagc~, B~~rrc~a•er fail± t~~ r~.pc~nd t~~ Lender within 30 da~~s after the date such n~tice is
maited. I_cnder is authorized to collect and ~ppl}• the ~roceeds, at I.ender'e option, either to re~toration or repair of the
Prapert~• c+r t~ the sum~ .ecured hy this Mortgage.
Unlec~ Lender and Borra~.er otherHitr agrc~ in ~~ritin~~. an~• tiu~h ~{~plicati~~n of prc~ceede to principal shall not e~tend
~~r postpone the due Jate ~~f the m~nthl~• installmrnt~ rcferred to in ~ara¢raph; 1 and 2 hereof ar chanue the amount of
such ~nstallments.
IQ. Borrower Not Released. E~t~nsion of the time f~~r pa}ment or modification of amort~zation of the sums secured
by this MorteagC granted b}~ I.ender tc~ am• e,~~ceceur in intere~t of Borro~+~er shal! not operate to releas~, in any manner,
the liabilit}~ uf the original BormHCr and B~•rrow~er't sucres;~~rc in incerest. i.ender shall not he reyuired t~ commence
proceedines against such succcssor or refuse t~~ e~ten~f time for payment or otherwi~e modif}~ amortization of the sums
secured b~ thiti Mortgage h~• reas~n of :im• den~and made b~ the ~~ri£inal Bormu•er and Borro~ver's succesc~rs in interest.
11. Forbearance bv i.ender Not a VYai~•er. :~m f~•rhearanre h~ I.cnder in c~ercisine ant~ right ~r remedy hereunder, o:
otherwise afiorded h~• applirahle laH~. shatl n~t he a wai~~cr ~f ~~r precleide the exercise of an}• such right ar remedy.
The procurement of insurance or the payment ~f ta~e, or ~~ther liens ur charges b~- I.ender thall not he a uaiver of I_ender's
right to aceelerate Ihe maturih• of the indehtednecs ce~ured h} thit'1lortgage• .
12. Remedies Camulatice. All reme~iies prrn ided in thi; ~iortgaee are distinct and cumulative to any c~ther right ~r
reme.it~ under thiti Mortgage or aff~~rded M• la~~• ~~r equit~. :ind m:i~ he c~erci~ed ro~currer.tl~•, independenth~ or successivel~•.
13. Successors and AssiRns Bound; Joinl and Se~erel i.iabilih~; Captions. The rn~~enants and agrcements herein
containe.i shall hind. ;~nd the riQhls hereunder shall inure 1~~. the reti~ecti~e ~ucce~tc~rs and ascign~ of I.ender and Bormw~er.
si~bject to the pro~•ision~ e~f parsgraph 17 hereof. :~II cm~~r..~nts an~l aereement~ of A~rrower shall be ji~int and several.
The capti~~ns ;tnil hea:line~ of the par:~era~h: ~f this '~ic.rtgagr are f~~r c~m~rnience ~~nl~• and are n~~t te~ he used to
interpret ~r dcfine the ~ro~•i~ions hereof.
l4. lotice. Except for an}~ natice reyuired un~er a~plicnhle la« t~~ he gi~~en in an~~ther manner. (a) am• notice to
Bormwer pr~~vided fnr in this tiortgage shall he ei~•rn hc m.iilin~ wrh nc}tice h~~ certified mail addres~ed to Bormw•er at
the Propert~~ Addrecs or at such other addre~ti as B~~rnntier ma~~ de~ignate h~• n~~tice to I_ender as pro~~ided herein, and
(b) an} notice to Lender shall he gi~~en hy certificd m.iil. return re.ei~t requetted. to l encter'~ address stated herein or io
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