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l.encler's «~ritten agre~ment or applirahle law. l~a~m~4cr shall pay thc amotu~t of all mortgagc insurance }~re:niums in !he
mannc~ provide~l undcr pz~~graph 2 hereof. • ~
Any amounts dishurscd by l.ender pursuant to Ihis par.~graph 7, with inter~st thereon, shall become additional
in~t~btedness of liorro«~e~ sccured by this hlortgage. Unl~st Borro~~~er and I.ender agree to other terms of pzyment, 3~ich ,
' nmounts shall be payable upon nc~tice frnm I.cndf:r tu t3o~~o~~~cr requeSting payment thercof, and shall bear interest (ram the
datc ~f ciixburscment at thc rntr payablc trom timc to time cm outstanding prinripa) unde~ the Note unless payment of
inleresi at su.h rate ~+~auld be cant~nry to applicable law, in ~~~hich event such amounls shall bear interest nt the highest rate
- permissibie un~ier appiicable iaw. IVMh~n~ containeci in this pa~acriph ~ shall rcquire I.ender to incur any expense or take
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any actio~ hcreundec. ~ '
' S. ~n~pection. I.e~der mny make or cause to be made rea~onablc enlrie~ upon and inspectiona of the Property, prov;ded
lhat l.ender shal) give Barrower notice prior to an~~ such inspection specifying rcasanable cause therefor relatec~ to I_endcr's
intcrest in thc Propcrty.
9. Condemn~lion. The proceedc of an~~ a~~•ard or claim for cl:images, elircet or consequential, in cannection with any
candcmnati.nn or other tak~ng of the Properiy, or part ihercef, ar for convcy~nc~ in lieu nf eatdemnation:~arc herebp assigned
~ :~nci shall be paid to I_ender. ~ `
in the event of a tatal taking of the Property; Ihe procecds shall he applied ta the sums secured by this Mortgage.
~ ~ with thc c~cess, if any. paid to [?orrnu~cr. In thc evcnt of partial taking of thc AroT~erty, unless Borrowcr and Lender
~ otherwise agre~ in writin~, there shall he applied to the ~ums secured hy this Mortgage such praportion of the procesds
as is equal to Ih:?t proportion which the amrnmt of the sumt secured b~~ this hiortgage immediately prior tc~ the date of
taking hears to the fair market value of the Prapfert~~ immcdia~el}• pcior ro the ~late of taking, ~vith !he balance of the proce~ds
paid to Burrower. , • -
- tf the Property is abandoned ~y Bnrrower, or if. after nolice by T.^.nder to B~rrower that the condtmtior offers to make
an award or settle a claim For dar:iages, Borrower fails tc~ res~nd to l.ender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds. at T.en~er i option, either to restoratian or repair of the
' Pro{xrty or to the sums secured h~• this Alarleage. ~
iJnless I.ender and B~rro~4•er othe~~ise agree iR ~~~riting, any such application af prc~ceeds to principal shall not extend
or poctpone thc due date uf thc monthl~• installmcnts referrcd to in paragraphs 1 and 2 hereof or change the amount of
~ such installments
10. Borrower Not Relesised. Extcnsion of thc time for paymcat or modification of amartization of the sums secured
by thii Mort~agc granted by I_ender to any successor in intcrest of Iiarrotve~ chall ~ot operate ta release, in any manner, . '
~ the liability of the original Borrower and Borrawcr's surressors in interest. i.cnder shall not be rcquircd to commence
proccedings against such successor or refuse to extend tirne for payment or otherwise modify amartization af the sums
~ secured hy ~his Mortgage hy reason of any demand made by the ariginal Borrower anc? Aorrower's cuceessors in interest.
11. Forbestrance by I,ender Abf a Wai~~er. Ang• fcuhearar~ce h~• I.ender in exercising any right or remedy hereunder, or
otherwise aftorded by applicahle law, shall not he a wai~•er of or preclude the exercise of any such right or remedy.
The prucurement of insurance or thc paymcnt af taxes or other IiGns or chargcs by I.ender shall not be a waiver of Lender's . _ ~
right to accelerate the maturity of the indehtcdness srcured hy thi~ hiortgage. •
. l2. Remed.es Cumulali~~e. All remedies ~mti•ided in this I~tortgage are distinct and curnulative to any ather right or
reme~ly under this I~4ortgage or afiorded h5~ law or equity. and ma~• i~e cKercised concurrently, independently or successively.
• l3. Successors and AssiRns Bound; Joint and Seceral I.iability; Captions. The ~ovenants and agcentents herein
~ contained shall bind, nnd the riRhts hereunder shall inure to, thc respective_successors and a~signs of Lender and Borrower.
~ siibject to the provisions of paragraph 17 hcreof. All cover~ants and agrcements of Borrow•er shall be joint and several.
The captions anJ headings of ~ the paragraphc of this Mortgage are for convenience only~ aad are not to t~e used to
interpret or define the provisions hereof.
l4. Notice. Excepi .`or any notice required under applicable 1:~~• to bc given in ano.her•manner, (a) any. notice to
, Rorrou~•er pmvided for in this Morlgage shall bc given h}~ mailing such notice b~~ certified tnait addressed to Borro~•er at
the Property Address or at such other address as Borro~•er ma~• designale by notice to Lender as provided herein, and •
(b) any notice to LeRder sh~ll bc given by certificd mail. return receipt requested. to Lender s address stated herein or to
~ sucfi other address as Lender ma}• designate bp notice tc~ Borrow~er as pro~•ided herein. Any notice provided for in ihis
Ai~rigage shall tx~ decmed to havc bccn gi~•cn to BorruH•c~ or I.cnder ~~•hen givcn in thc rnanner designated herein.
1S. U~iform MortRage; Governin~ I.ari. Se~~erahilif}•. This form of mortgage combines uniform covenants for nationa)
~ use and nan-uniform covenants with limite~i variations jurisdiction to constitute a unii'orm security inslrument covering .
real property. This Mortgage shall he governed h~• the lak• of :he jurisdiction in ~vhich the Property is located. In the
~ event that any provision or clause of this I~tortgage or the N~~te contlicts ~~~ith applicable law, such conflict shal) not affiect
c~iher provisions of this Mortgage ar the Note ~~~hich can be given elTect without the confl6cting provision, and to this
end the provisions of the Mortgage and the Notc arc dcclarcd to hc scvcrahlc.
- f6. Borrower's Copy~. Borro~•er shall be furnished a conformed cop~• of the Note and of this ;~iortgage at the time ~
of cxccution or after rccordalion hereof.
1?. T.a
~,'€r :,f t::e ~'rc~:tt•; As~am~ti~n. If all or an~• p~ri of thc Prc~~erts or an intec~st sh~s~~n i~ sol~ or transferr~~3
~ by Borrower without Lender's prior ~•ritten consent, e~cluding (al the ~creation oF a lien or encnmbrance subardinate fo
~ this ;~iortgage, (b) the creation of a purchase money securi~y interest for household appliances, (c) a transfer b}• devise.
~ . descent or by opcration of ]aH~ upon thc dcath of a jo~nt tenant or (~i) thc grant of an}~ Icaschold interest of three }~ears or less
; not contai~ing an option t~ purchase. I_endcr mc~~~. at Lender'S option, declare aU the sums secured b}• this :~tortgage to be
~ . immediately due and payable. Lender shall ha~•e u•aii~ed such option to accelerate if. prior to ihe sale or transfer. I.ender
anJ the person to whom the Propertp is to be sol:l or transicrred reach ugrecment in writing that the credit of such person
is satisiactory to Lender and that the interest pa}~able on the sums secured by ~his ~1o~igage shall be at such rate as Lender
~ shaU request, if l.ender has w~aived the optinn to accelerate pro~~ided in this paragraph 17, and if Borrower's successor in
interest has executed a written :;ssumption agreement accepted in ~~~riting hy Lender, Lender shall release Borrower from a!1
obligations under this Mortgage and the Note. . .
If I_ender .exercises such option to accelerate. Lender ~hall mai) Borrow•er notice of ar~:e!eratian in aceordance K~ilh
paragraph 14 hereof. S~:ch notice shall provide a period o( not Iess than 30 days from the daie the _notice is mailed within
«~hich BorraH~er may pa}• the sums decl.~red diie. if Borro~~er (ails to pa}• such snms prior to the expiratian of such period,
~ l.ender may. w~ithout turther noticc or dcmand on Borroi+~er, in~•okc an}~ rcn~cdies nermitted by paragraph lg hereof_
~ ` NON-UIvIFOR~f COVENANTS. Ii~ffOwer and I_en~ier further covenant and agree ac folluws:
~ 18. Acceleration; Nemedies. Ezcept as proti~ided in paragraph 17 hereof, upon Borrowe~'s breach of pny co~enant or
i~ agreement of Bonower in th~s Mortgage, inrluding thr co~~enants to pay r+•hen due any sums secured by this Mortg~ge, I,ender '
prior to acceleration shali mall notice to Borroh•er a5 pro~ided in paragraph l4 hereof sRecifying: (I) th~ breach; (2) the action
required ta cure surh breach; (3) a date, not less than 3Q da}•s from the date the notice is mailed to Borrower, by ~hich suth
breach must be cured; ;~na (4) that faflure to cure such breACh on ~r before the date specified in the noike may. resnlt in
. acce~eration ot the sums secured by this ~tortgagP, foreclosure by judicial proceeding and saie of the Property. The nc.Yice
shall gurther inform Borrower of the ~ight to reinstate affer acceleration. and thc reght to assert in the foreclosurc procttdfr~g.
- the non-existence of a default or any other defensc of Borror~er to accelerafion and forerlosure. If the breach is not cured on -
or before the dafe specified in the notice, I.ender at I.ender's oNtion may derlare all of the snms secured by this Mortg~e to br
~ immediately dae and pay~aWe without further demand Lnd may foreclose thts :biortgage by judicial proceedietg. I,ender shail
be entitl~d to collect in such proceeding ail expenses of foreclosure, including~ but not limited to, ressonAWe attornty's fees,
and costs of documenfary evidence, abstrocts snd title reports.
19. Borrow~er's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secureei by this Mortgage,
Borrower shall have the right to have any proceedings begun ny I_ender tv enforce this Aiortgag~ discontioued at any time
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