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[.ender's written agreemcnt or 4pplicable laH•. Borrowcr shall pay the amount of all mohgage insurance premiums in ihe
manner provided under parag~aph 2 hereo[.
~ Any amounts disbursed by l.ender pursuant ~o this paragraph 7, wi~h interest thereon, shall became additional
indebtedness of Rarrower securtd by ~his Mongage. Unlecs Barrower and l.ende~ agree to other tern~c af payment, such
anwunts shal) be payable upon notice fr<~m 1_ender lo Borrow~c~ reyue~ting payment therenf, and shall bcar interest from the
date of disbiirsement at thc rate payahle from timc to timc on ou~standing principal unde~ the Note unless payment of
interest at such rate would be contrar~~ to applicable la~+•, in H~hich evem such amounts shall hear interest at the highest rate
permissible under applicable Isw. Nothing containecl in thi~ parag~aph 7 shall require I_ender ta incur any expense or take
any action hereunder. •
8. inspteNon. Lender may make or cause to he made reaconahle rn~riec upan and in~}~ctiona of the Property, provided
that l.endu shall give Borrawer notice prior to any such incpec~ion cpecifying reasonable cause therefor related ta I.endet's
interest in.the Property.
~ 9. Condemnatioti. The praceedc of any a~~•ard or claim for damAges, direcl or coneequcntial. in connection with any
condemnation or other taking af the Praperty, or part thereof, or for conve}~ance in lieu of condemnation, are hereby assig~ed
and shall be paid to I.ender.
in the event of a total taking of Ihe Pmperty. the procceds ~hall be applied to the ciims secured hy ~hic I~iortgage.
with the ercess, if any, paid to Borrowcr. ln ~hc cvcnt ~f a partial taking rf thc Pmperty, unlecc Rorrower and I_ender
otherwite agree in writing. there shall he applied ~o ~hr ~ums cecureJ h~~ thi~ Mortgage ~uch proporlion of the proceeds
as i~ equal to that proportion which Ihc am~~unt ~f ~hc sum< <crured h}• thi~ \tortgagc immediately pri~r t~ the date af
taking hears to the fair market value of the Pmpert~~ immediatel?• pri~r to the Jate of taking, w•i1h the halance of the proceeds
paid to Borrower.
if the Property ic aban~oned b~• Borrow•e~, or if. after notice hy Lender to Borrower that the condemnor oPfers to make
an aH•ard or setlle a claim for damaeea. Borrc•wer faik ti~ re~~nd t~ l.ender within i0 da~•s after Ihe dale curh noticc is
mailed. I.ender ic authorized to collec~ and aprl~~ the proceedc. at (.ender'c option. either to rectoration or repair of the
Proper~p ar to the sums secured h}~ this Morlgage.
, Unles~ I.ender and Borro~•er athen~ ice agree in ritine. am~ stich applicatinn of proceeds to principal shall not ertend
or poslpone the due date ~~f the monthl~• installments referred to in paragraphc 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. F~tensinn of the timr for p~y~ment or modificati~n of amortiaation of ihe ~umc ~ecured
by this Mort~age granted h}~ I.cnder 1~~ an~• aurcecSOr in int~re~t of A~rrow•er ~hall not operatc to release, in any manner.
the liabilil}• of Ihe origin~l Borrowcr and B~~rrm~•rr'~ surr~s~nr~ in inlerest. I.ender shall nol he reyuired ti~ cc~mmence
proceedings against such succecsor or refuce to erlenJ ~imc f~r payment or otherH•i~e modif}• amortii:~tion ~f the sums
serured h~~ thi~ 1~lorlgagc h~• rcasi~n ~~f am~ deman~l madc h~ ~h~ rrieinal Bormu•er :ind BnrmN•cr's succes«rc in intere~l.
11. Fnrbearance by T.ender 1ot a Wai~er. :1n~ f~•rhrar;~mc h~ 1 cndcr in c~crci~in~ an}• right or remed}• hcreunder, or
otherwise afiorded hy applicahle law, shall n~it Fx :i waiver c•f ~~r preclude ~he e~ercise of am• such right or remedy. ~
The procurement of insuran~e c~r the paymint of ta~e< <u ~.ther lien~ i~r chargec h)~ t.ender chall not he a~~:~iver ~f I.ender's i'
rigfit t~~ accelerate the maturi~~~ of thr indeht~dne~s ~rcurrd h~• thi. rlnrtgage. ~
12. Rernedies Cumulatire. All remc~lics prn~ided in thi. ~tortcagc are distinrt a~d cumulative to any oiiier right or
remed}• under this Mortgage or afi~~rdcd h~• law• ~~r eyuit~~. :in~ ma~~ he e~erri~e~i rnncurrentl}•. independentl~• or succeaivel~~. ~
13. Successors and AssiRns Bound: Joint and Se~eral t.~an~i~ry; t'aptionti. The rn~•enants and :~fircement~ hercin
comaineJ chall hind, and thc rieh~c her~under shall inure tn. the rc~pcc~i~•e wrre~«~n ancl as~ignc of I.ender and Borroti~er.
subject to the prm•i~ione of paragraph 17 herco(. All rc~~~en:mts cin~l :~ere~mrntc ~.f Rorrou•er shall hc j~int and ~e~~eral.
The captions and heading~ of Ih~ paragra~h~ c~f ~hi~ ;11~~rt~a?:c are f~~r rom•cnience onlt• an~l are nat t~~ he uced to
interpret or define the pro~~icion~ hcreof. ~
i4. Notire. Exrept fc~r am• notice reyuirrd un~ler :~rrr.:ihlr la~+ he gi~•en in another manner. (a) an~• notice to
Borrower pro~~idcd for in thic \lortgage ~h:~ll hr gi~rn M mailine ~u~h nr~icr h~ rcrtified mail :~ddresccd 1~ Borr~~+~cr at ,
the Property Addrecc or at ~ueh other addr~.. a~ Brrr~~~+rr ma~• deci~natc M• n~~tice t~ I.ender as ~rc~videu herein. and
(hl an~• nrnice to l.ender shall he gi~•cn h~~ certifir~l mail. reiurn rece~pt requccted. ti• I ender'~ adJress stated herein ~r to
such ~~thcr addresc as Lcndcr ma} dr~ignalc M nc~tirc t~~ B~~rr~~~~rr at pr.~~~idc~i hcrcin. Any n~ticc pmvidccS for in thic
Mortgage shall he deemed to ha~•c bcen givcn to R~rrr~+~r ~x 1 rndcr ~~hen gi~~en in thc manner detignated herein.
IS. Uni`orm 1~1oNRa~e: Go~~emin~ {.aH; Se:crabilit~. Thisformofmortgagecombinesuniformcovenantsfornationaluse
and non-uniform covenants with limited r-ariations by jurisdict~on to constitute a uniform security instrument covering real property. Tfte
state and local laws applicable to this Mortgage shall be the laws of the jurisdicdon i~ which the Property is located. The foregoing
~ sentence shall not limit the applicability of federal law to this mortgage. In the event that any provision or clause of this Mortgage or the
Note conilicts with applicable law, such conflict shall not afl'ect other provisions of this Mortgage or the Note which can be given effect
without the conflicting provision, and to this end the provisions of the Mortgage and the Note are declared to be severable.
16. Borrower's Copy. Borrowcr thall hc furni.hr~l a rrnf~~rmed cop}` ~~f Ihc NM~ and ~f Ihi~ Mortgage at the lime
of exec~~tion or after recordatian here~~f.
17. Transfer of the Propert}; ~issumption. 1f all i~r an~ rart of thc Pmperly ar an interest therein i~ t~~ld ~r transfcrred
hy Borrower w•ithout I.ender's pri~r w~riltrn c~~n~ent. ~1cludinE 1:~) thr crcati~n of a lien ~r encumhranre suhorJinate 1~
- thii 1~4ortgage. Ibl the creation c~f a purrha~e mi,ne}~ ~erurih interest f~r houceh~~IJ appliance~. fcl a Iran~fer h~• devise. ;
de~cent or by operation ot la« upon Ihe iieath ~~f a j~nnt t~nanl ~~r (~li Ihe g~ant of an~• leasehold interest of Ihree }'cars or Iecs t
not containing an option to purchase. Lender m:i~•. :it I rnder'. ~~pti~m. declare all ~he cuma secured hy this :~lortgage to be f
immediately due and payahle. I.ender ~hall ha~•e «:~i~~cd ~uch ~~ption t~~ accelerate if. rrior to Ihe ~ale or transfer. Lender s
and the person to whom the Pmperry ic lo b~ ~o1J or trancfcrred rcarh .~greement in writing that the cre~lit ~f tuch person ~
is satisfactory to I.eri~er and tha~ the interr.t pa~•ahle on Ihe sum~ srrureci hy ~hi~ hlor~gage ~hall be at such rate a~ I.ender ~ ~
shall request. If l.ender has waiveJ the option tc• acceleratr pro~•iJed in this paragraph 17. and if Bc~rrower'c successor in
interest has executed a wriUen assumption aereemcnt a~~epled in writing b}• l.ender. Lender shall release Bcurow~er from all
obligations under this Mortgage and the Note.
if [_ender exercises such oplion !o accelera~e. I.en~ler ~hall mail Bnrro~er notice of acceleration in accordance with i
paragraph 14 hereof. Such notice shall provide a period ~~f noi less than ?0 Jay~s from the date the notice is mailed within
w•hich Borrow•er may pay the sums declared due. If B~rr.~~+rr faik io pay s~ich ~iimc prior t~~ the etipiration i~f ~uch period.
Lender may, w~ithout (urther no~ice or ~Iemand ~~n Hc~rn~~•er. mvu{.e an~ remedies permit~eil hy paragraph 1R hereof.
NoN-UNiFOa:~t Coverv~~TS. Borrower and l.ender funher covenant and agree as follows:
I8. Acceleration; Remedies. Except as pro~•ided in ppraR~aph 17 hereof. upon Borrower's breach of any covenant or
agreement of Borrower in lhis Mortgage. includin~ the co~enants fo p9y when due s~ny sums securtd by this Mortgage, Lender ~
pr3or lo acceleration shall mail notice to Borrower as pro~•ided in paragraph 14 hereof specifying: (1) the bctach: (2) the action ~
required to cure such breach; (3) a date. ~ot less Ihan 30 da~s from the dafe the notice is mailtd to Barrower, by which such
breach must be cured; and (4) that iailure to cure such brcach on or before the date spectfied in the notice m~y resutf in
ascele~ation of the sums secured by Ihis liort~age. foreclosure by judicial proceeding and sale of the P~operty. '~e notice ~
sh~ll further inform Borrower of the riRht to reinstate after acceleration and the right to asse~l in the foreclosure proceeding
the non•existence of ~ default or any other defense of Borrov?er to acreleration and toeec{osure. If the breach is not cured on
or before Ihe date specffied in the aofice. Lender at Lender's option mar• declare all of the sums secured by this 1lqortgage to be =
immediately dut and payable w3thout further demand and may foreclose this Atort~age by judicfal proceedin~. Lender shall _
i~e enfitled to collect in such proceedinR al! expenses of foreclosure, includinR, but not Ilmited to, reasanable attorney's fees,
and costs of docum~ntary evidence, abstracts and 1i11e reports. ,
19. Borrorser's Rtght to Reinstate. Notw~ith~~anding Len~er'ti accrleratson of the sums secured by this Mortgage,
Borrower shall have the right to have an~ proceedings he~un h~ Lender ~c. enforec Ihis ~tortgage discontinued at any time
~~os~~ PdsEoss3 ~