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l.ender's written agreement or applicable I1µ'. I30ffOµ'Cf shall pay thc amount of al) mortgage insu~ance premiums in the i
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manner provided under paragraph 2 hereof.
Any amounts dishursed by l.ender pursuant ~o ~his paragraph 7, with intercu thereon. Shall becomc additional ~
inJehtedness of ~orro«~~r secured by this Mortgagc. Unle~~ Borro~~cr a~~ Len~ier agrec to olher tcrrnc of payment. cuch ~
amountc shall be pa~~able upon notice fmm l.ender to Bnrmw•rr reyue~~ing payment thereo(, and shall hear interest from the
date oF di~bursement at the rate payahle fmm fimc Io timc on outstanding principa) under ~he Note unle~s payment of ~
interest at such rate woiild be coMrar}• to applicable I;?~•. in ~~hirh event such amounts shall hear interes~ at ihe highest rate
permissibie under applicable law. Nolhing con~ained in thi~ paraKraph 7 shall require i.ender to in~ur any expense or take i
any actian hereunder. ~
• 8. Inspection. i.ender ma~• make or r:+use to he made rea~onahle entrie~ upon and inspecti~~nc of the Property, pro~~ided
th~t l.ender shalt give Borrow•er n~~tice prior to an~~ such incperti~~n ~pecif)~ing reasonable cauce therefor relaled to i.ender's
intcre~t irt the Property. '
9. Condemnation. The proceed: ~~f an~• a~~ard ~~r claim for damaees, direct o~ c~~mequential, in connecti~n with any
rondemnation or other tal:ing of 1he Propert~~, or part thereof. or for conveyance in lieu of condemnation, are herehy ascigned
and shall hc paid to I.endcr.
in Ihe e~'ent of a tc~ta) laking c~f the Pmpert)•. the ~rorecd< <hall he a~plie~l t~~ ~he ~umt secured M• thi~ Mortgage. ~
H~ith the ercecs, if any, paid lo I3orr~~u~cr. In the c~~em i~f a partial takin~ i~f the Pmpert~•. unlc~s Snrmu•er :~nd i_ender ~
othen~~i~e agree in w•ritin~. there shall he applied ti~ the ~ums ucure~i h~~ ~hi. Mi~rtgake ~uch proporti~n nf the proceeds A
as ie equal to that proportii~n ~~hich the amuunt ~~f the sum~ u:ured h~~ thi~ ~1~~rtgage immediateh• ~ri~~r ~he date of ~
taking bears to the fair market valuc of the Pri~perl~ immediatrl~• rrii~r to the .la1e of taF.ing. ~~ith the halance of the proceeds ~
paid t~~ Borrower. r
If the Pmperty ic ahand~neil h~• Borr~w•er. ~r if. after nntice h~• I.ender to H~~rmµ•er that the condemnor ofiers to make f
an a«•ard i~r seUle a claim for damacr~. Be~rr~~~~•er fail. rr~{x.nd ti~ I ender «~ithin i~ da)ti af~er the date ~uch n~lice is ~
mailed. t.ender i~ authorized ~o c~•llect and aprl}• the prc.ceed~. at I.er~der'~ ~,plion. either to rectoration or repair of the ~
a
Pro~n~ c~r to thc sumti ~ecured h~• this M~r~eage. t
Unles~ Lende~ :~nd Borr~~~~rr athen~i~. a~rcc in ~+riline. am• surh applir.~tii~n i~f proceed~ tn prinripal ~hall not e~tend
~r po~lponc ~hc duc d:~lc ~~f thc monlhl~ inctallmcnt~ refcrrcd to in {~aragra~hti I and 2 here~f or changc thc amount of
such inslallments.
, 10. Borrow•er Not Releaced. f~~tensi~n the t~me f~~r p:?~~men1 ~r mc+difir:?ti~~n ~f amc~rti7ati~n ~f the ~iim~ cecured :
by thic A1~rtgage granted M~ Len~lcr Ir am• wrce~tiur in intrrc~t ~~f Bi~rrrn~er chall nol ~r~rate t~ r~lca~e, in an}~ m~nner. {
the liabilit~' of Ihe nrieinal Burm«er :1(1lI R4~ffl~~~'1f~1 siir:ec~~~r~ in interett 1 ender ~hall n~t he reyuireil t~~ cammence
prucceJingti against such sucrc~snr i~r refu~r 1~~ r~tcn.i Iimr f~~r {~a~'ment ~~r othcn~i~r m~dif)' ami~rli~ati~~n i~f thc sums ~
serured h~• thi~ Mortgage h~~ reas«r~ i~( an~ d~m:~ni1 m:~dr h~ thr ~~ricinal Rorn~~~cr :~nd Brrm~+~~r'~ siic~r~~i~r~ in interett. i
11. Forbearance by i.endcr tiof a N'ai~er. •~m f~~rhrar;~nr~ h~ 1 rndcr in c~cr~i~ine :im• right ~•r rcmcd~• hrrciindcr. ~~r ~
otheru~ise afTi,rded h}• applir,iMe law~. ~hall n~,t he :i ~~~:~i~~r ~,1 ~~r preclude the e~erci~e ~~f an~• tiuch right e~r remed}'-
The procurrment of incurancc ar the pa~~mcnt i~f ~:~~c. ~~r ~~Ihrr I~~m ~~r chare« h~• i endcr .h.ill not he a a:iiver ~~f i.ender's
right t~~ accclcralc thc maturity ~,f thr indcht~dnr.s .c.urrd hc thi. \1~~rtEaec. ;
12. Remedies Camulati~•e. .~II remc~lics pm.idcd in Ihi. \t~~rleage :?re ~liuincl :~nd rumulativc to ant• Mher right ~r ;
reme~i~• under this M~rtgagc ar afi~~rdcJ h~• laa ~~r ryui~~. .in~i ma~ h~ r~erri~~.t ri,ncurrenlh•. inde~endenll~• ~r succetsivil~•. ~
13. Successorc and AssiRns Bound: Joinl and Se~eral ~.iahilit}: ('aptionc. ~I~h~ c~~'cnants nnd agrerment~ herein ;
rontaincii ~hall hind. and thr rieht~ h~reundcr ~hall ~nurc tu. thr rr.~,crti~c wrrc..~~r, an~i atci~n~ c,f Lcn.lcr :ind Bi~rro~~er. ~
subject t~~ the prc~~•i~ion. ~~araer:iph 1? hcrcof. AU ~i.~rn:i~its :~nJ aerrrmcm~ Rnrn~~ter shall he jnint :+nd ~c~~cral. ~
The ~aptiont aml hea~in~~ ~~f thi ~.~raer:~~h~ ~~f thi~ M~~r~eaer :irc f~~r r~~nvinicnre i~nlt• anJ are n~~t t~~ hc ~itcd to
interpret or define thc prm~i~i~~n~ hcrcof.
_ 14. Nolice. E~rep1 fc,r an}~ notirc rry~~irrd un~lcr :~r~~lir.~hlr la~~ t~~ hc L~~'rn in ani~thrr manner. :im• notice to
Bormt~~cr provided (or in Ihi~ tit~~rlgaKC tihall hr gi~rn h~ mailinz .u:h nrticc h~ crrlificd mail !ddre~~rd Ir R~rm+ticr at
Ihc Propcrty Addre~ti or at surh .~thcr a~1dre.. ac B~~rr~~«rr nia~ dc~i~n:~tr M• nuiir~ tc~ i cn~lcr :~s ~mvi.l~d hcrein. ~ind -
(hl am notice to Lenilcr SF1JU f~l ~i~•rn h~ rrrtitir~l m:iil. rrt~tr:~ rrrr~{~t rryu~~.trJ. f en~ler'~ ad~lre~c s~ated herein c~r to
_ ~uch i~ther addret~ as I.ender m:?< <Ir~icnate h~ nrti~r ~r Brrn~•~rr :i~ ~r,,~ide.l hrrein. :~m~ n~,tice rrm~ide~1 fi~r in this
~lortgagc shall hc deemrd t~. ha~•r brrn eic~n B:~rr~~~~rr ~~r 1 rndcr ~~hrri gi~rn in thr manncr decignatcd hrrcin.
15. Uniform tilortRaRe; Cn~~ernin~ i.aN; Se. crabilitc. This form of mortgage combines uniform co~~enants for national use =
j and non-uniform co~~enants with limited cariaUons by jurisdiction to constitute a uniforrr? seeurity instrument co~~ering real property. The
{ state and local laws applicable to this t~tortgage shall be the law~s of the jurisdiction in w~hich the Property is located. The foregoing
~ sentence shall not limit the applicability of federal law to this mongage. Tn the e~~ent that any pro~~ision or clause of this Mortgage or the ~
~ Note conflicts with applicable la„~, such conflict shall not affect other provisions of this Mortgage or the Note w•hich can be gi~•en effect ~
without the conflicting provision, and to this end the provisions of the Mortgage and the Note are declared to be se~~erable. ~
~ l6. Borrower's Cop}~. Borro~+er .h:ill hr furni.hr.l a:~~nf~~rmcd «~r}~ thc N~.~r and c•f thi~ ~lorlgagc at the time ~
~ c~f execution or after rrr~~rdation herci~f. -
17. Transter of the Property: :icsumption. lf all ~~r an~ {~art i~f thc Pmprrty~ ~~r an intcrest thrrcin i~ s~•ld i~r trancfcrred ;
bi• Borrow~rr µithout I.ender's pni~r ~?riurn c~,n~rnt. r~clu~iin~ ~:~1 th~ rrr;iti~~n i,f lien nr encumhranrr ~uhorJ~n:ite t~~ _
thi~ Mortgage. Ih) the creati~n ~~f a purch:i~e mi~ne~• se~urit~ inlrrest f~~r hi~u~ehold a~plianre.. Icl a tran~frr h~~ devise. ~
de~cent ar hp o~ralion of I;n+ up~~n the ~iealh ~~f j~~int Irn:~n~ ~~r (J~ the grant ~~t an} li:~seh~ld interest i~( thr« ~•ear~ or le~c ~
not cor~taining an oplion Ic~ purchasc. I endrr m:i~. :i1 I rndcr'~ ~~~u~~n. dcclarc all Ihr ~um~ ururrd h~• thit ~1~rtgagc t~ hc ~
immcdiately due and payahle. Lendcr thall ha~c «;uvrd wrh rptii~n t~~ arrelerate if. ~ric~r to the ~alc ~~r transfer. Lender ~
and the person to w~hi~m the Propert)• i~ t~~ be c~~l~i ~~r tr:~n~ferrrJ rcarh a~rermrnl in Hriting thal the creilit i~f ~uch pers<~n
ic sa~isfactory~ to l.ender and that thc intrr~.t pa~ c+hlr ~~n the ~um~ .erured hy thi~ Morteage shall he at surh rate at I ender ~
shall reyuest. If l.ender ha~ w•aivcd thc i~~~ii~n t~~ :~r~clcr.~te rm~~idrd in thi~ p:ir:icra~h 17. and if B~~rr~w~cr'~ successc~r in
interest hac executed a w~ritten ascumption a~reemrn~ acrr~~ted in «riting h}• Leniler. Lender shall relca~c Borrotirr from all ~
obligations undcr this Mortgage and Ihe Nc~tc. .
If [.ender exercises such option ti~ acrelrr;ite. I en~lrr ~h:~ll mail Borro~+rr nntire ~f acceleration in arcordanre ~+~ith
' pa~agraph la hereof. Such nutice ~h:sll pruviJe a prri~~~l ~~f n~» Icsti than 3~ ~a~~ti fmm the date the notic~ ic mailed within
~hich S~rrotier map pa~~ thc sums dcrlare~l dur. If B~~rri~~+rr fail~ i~~ p.?~~ ~urh sumc pri~~r t~~ Ihc crpirati~n i~f tuch pcriod.
I.ender mav. uithout further notire ~r ~I~mand i~n 13o~roHrr, in~~l.e an~ remedies permitte:l h~• paragraph IR hereof.
NON-UNIFORtii COVFNANTS. BO~fOw'Cf atl~ LCrte~e~ furthcr crnenant and agree as follows:
1~. Acceleration; Remedies. Except as pro~•ided in para~raph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower i~ this ~fo~tRaRe, includinR the co~enanis to pa~• when doe any~ sums secured by Ihis :~tortRa~e, I.ender
prior to acceleration shall mail nolice to BorroHer as pro~ided in paraRraph 14 hereof specifyinR: (1) the b~each; (2) the action
required to cure such breach; (3) a date. not less Ihan 30 da}s from the date the notice is mailed to Borrower. by which such
breach must be cured; and (4) that failure to cure such breach on or before the date specified in the nofice may resulf in
accelerafion of the sums secured by Ihis 1torlRage, foreclos~re by judicial proceeding and sale of the Property. The notice -
shall further inform Borrower of the riRht to reinNate afler acceleration and Ihe righl to assert in Ih4 foreclosure proceeding
the non-exislence of a default or any other defense of Borroµer to acceleration and foreclosure. If Ihe breach is not cured on
or before the date specified in the notire. I.ender at t.ender's oplion may declare all of the sums setured by this Mortgage to be
immediately due and payable w•ithout furiher demand and may~ foreclose Ihis ~lortRa~e b}• judicial proceedinR. Lender shall
be entitled to collect in such proceedinR all expenses of foreclosure, includin~, but not limited to, reasonable attorney's fees,
and costs of documentary evidence, abstrac~s and litle reports.
19. Borrower's Right fo l~einstate. ~<~t~•ith~~anding I.eniler~ti accclerahe~n of the sums secured bp this ytorlgage.
~orrower shall have the right to have an} procecdingti heenn h~ I.cnder te~ enfc~rce this M~rtgage discontinued al any time ~
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c~t0~7~ PlCED~~~9
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