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~ I.ender's ~vritte~~ a~cz~ment ~~r Applicable la~~•. Ro~rotic'c~ shall pay the ameunt of ail mortgase i~sl~rance pmmjunu i~i ihv
manher provieted unuer pa~agraph 2 hereof. . ' i~,
Any amounis disbu~sed by l.ender pursuant lo this parzgr:~ph 7, with interest thereon, stiall tieeoii~e additional
in~lebtcdness of f3orro~ti~ec secured hy th;s Mortg~ge. Unles~ Borr~~4~~•r an~! I.en~l.r agrca to other terms of paym~nt, such
amounts shall t?e payablc upon noticc from [.endcr t~~ Bor~owcr requesling p:ryment there~~f, and shal) bear interest ti-mm the
date of dishursemcnt at thc ratc paynhle from time to time an oulstanding p~incipal under the Note untess paymcnt of
i~terest at such r~i~ H•ui~1c1 bc cantrary to appiiclble iac.~, in which event such amounls shall lkt?~ interest at the highcst rate
~ermissible under applicablc law. N~~thing contained in this paragraph 7 shall rcc~uire I.~nder to incut any expense or take
any actiun hcrcundcr. .
8. Insprction. Lcndcr may makc or causc to bc madc rcasonablc cntrics upan and inspcctionc af thc Ampc~ty. provided
that i.end~r shall ~ive Borr~wcr notice prior ta any such i~spection speci(ying reasanable c~use therefor rcl~ted to I.ender's
. intcrest in thc Property. - •
S. Conriemnation. The procecdc of any a~~•ard or claim for damages, direcl ar con;equenti:~l, in connection with any
ec^ae.^.,~~t;nn or other taking of the Pro~np, or part there~f, or for conveyancc lir~. t~f condemnation, ~re her~by a~signed
and shall bc paid to I.cndc~.
Ir. the event of ~ tz~lal takir,g of the P;aperiy, the procee~ls shall tk applied to ~iic: sums seeu~~u oy iiii; ~iortga~e.
with thc erce~s, if any, paid to Barrc~«~er. !n thc event ~f a partial taki~g of the Property, tin(ess 3orrower a~id I.ender
otherwise agree in writinF, there sfiall he applied to the sums securcd hy this 1~lortgage such pmportion of the proceeds
as is equal to that proportioii which thc amount of th~ sunia sccurcd by tnis 1~4ortgagc immcdiatel~• prior to thc date of ~
taking bears t~ the fair market valuc af ;hc Pmperty~ immc<~iately prior to thc datc of laking, «~ith the halancc af the prorecc~s
paid ta Borrower.
If the Property is ahandoned h~• iiorro~~•cr, or if, after notice hy I.ender to Borro~ti•er th~t the condemnor oScrs to make
' ar~ award or settle a claim tor damagcs, Bormwer l~i,~ to respc~nd to l.ender uithin 30 drq•s after ihe date such notice is
mailed, I_ender is autF~orized to collect and apply the procecds, at I.ender'; opiio~, cither ta restoratinn nr renair of the
Fropcrt)' or to thc sums securcd b~~ this 1~lortgagc.
Unless I_ender and Borro~~er othen+~ise agree in ~~•ritinc. an~~ such .,rrr~atinn ~f proceeds to principal shall not extend
or poslpone tha due date of thc monthly installments refcrred !o in ~:lf1g~8~}15 1 and 2 hereof or change thc amount of
su:.h installments. •
10. Borrower Not Released.' Extensian of the time for pa}~ment or modificatio~i of amortization of the sums secured
hy this 1~'fortgage granted by I.ender to any succcssor in intcrest of F3orrower shal) not operatc to release, in any manncr;
the liahility of tfie origina) Borrow•er and Rorrow•er's successors in interest. T.ender shall not be required to commence
proceedings against such successur or refuse to extend time for payment or othen~~ise modify amortization of the sums
secured by this Mortgage hy reason of any dcmand made b~~ Ihe original [3orro~~~er and Borrow•er's successors in interest.
11. Forbearance by i.ender i\'ot a~VAi~•er. Any forhearanc~ h~~ I.ender in rxercising any right or remedy hereunder, o:
othen~•ise afTorded by apt,;;cai?ic iaw, shail not he a waiver of ~v preclude the exercise of any such right ar remedy.
Thc procurcment of insurance or the payment of ta~cs or other liens or chargcs by :.cnder si::~ll not he a~+~aiver of Lender's
~ight tc~ aceelerate the mawrit~• of the indehted~iess secured hp this 1~tortgage, ~
l2. Remecii.s Cumulatiti•e. All remedies pm~~ided in thit Iltortgage are distinct and cumulative to an~~ other right o:
reme~iy under this Martgage or aff~rded b~• la~r c~r equity, ,ind ma~• bc exercised concurr~ntl~•, independently or successi~~el~~.
l3. Successors and Assikns Bo~md; 3oint and Se~eral i.iahilit~•4 Captions. The co~•cnants and agreements hereii~
containecl shall hind, and the rights hereundcr shall inure ?o. the resperlive successorc and as~igns of l.encier and Borrower. _
. subject to the pravisions of parag~aph 1~ hereof. All co~~cnants .e,i~l agreements of Borro~~~er sh.~l) he joint and several.
The captions and headings of the paragraphs of thic I~~torlg~~ge are for con~•enicnce onl~• and are not to be used to
~ intcrprct or definc thc provisions hcr~of. ~
14. Nofice. Except for any noticc required under applicahle la~~• to be gi~~en in another manner, (a) any nolice to ~
Rorro~•er ptovided for in this Atortgage shal) he given b}' mailing such notice by rertified mail addresscd to Borro~~~er at ~
the Property Add~ess .or af such other address as I3c•rro~ti•er nz. ciesignatc b~• nc~~ice t~ f.ender as provided herein, and
_ (b) an~• notice to I_ender shall he gi~•en hy certificd maiL reiurn recei~, requested. to ~l.ender's address slated herein or to
such other address as Lender may designate by no~icr to Qorm~ser as providecl hercin. _ Any notice provided for in this
bfort~;agc shall be deemed to ha~•c bccn given to Borrou•er or 1_cnder ~+~hen given in thc manner designated herein.
15. iTnif~~m MorfRa~c; Co~~ernin~ T.aw; Sevcrahilit~•. This form of mortgagc rombincs uniform covenants for national
use and non-uniform covenants ~+•ith limited variations h~~ jurisdict'son te :onstitute a unifo:m security instrument coveri~~g
. real property. This Mortgage sh:ill be governed hy the law• of the jurisdiction in which ihe Pro~erty is located. Tn the ~
even[ that any provision or rlat!~» nf this I~iori~•~~e iir the \c~te confiictc a~ith applicable la~~, such conflict shall not affeet $
_ other procisions of this Mortgage or the A'ote H•hich c:~n he bi~•en efTe~t ~~~ithout thc rontlicting pmvision, and to this
end the provisions of the hlortgage anci the Note are ~lecfared to he severable. ~
_ 16. Borrower's Copy. Borrowcr shal! bc furnichesi a conformcd copy of thc iv'otc arid of this Mortgage at the time ~
~xecution or after rccordation hereof. ~
17. Transfer of the Prorer!f•; Assumptian. I: u!! c~r as::~ F.aii ui ;h~ Aropcrt~• or an interest thcrein is sold or transferred
b}~ Borrow•er without Lender's prior writtcn conscnt, excluding (al the crcatio; a; a!ien or en.umbrance cubordinate to ~
this Mortgage. (h) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
clescent or hy operation of la~~• upon the death of a juini tenant or (dt the grant of.an}• Ieasehold interest of three years or less
not containing an option to purchase, I.ender.ma~•, at I.~nder's option, declare all the sums secured by this Atottgage to be
immediatel}• due and payable. I.ender shall have ~~~ai~•ed such ~~ption to acrelerate if, prior to.the sale or transfer, I.ender ~
and the person to whom the Property is to be sol~ or transferred reach agreement in ~ti•riting that the credit of such person ~
is satisfactory to I_ender and that the interest payable on the sunis secured by this ~torteage shall be at such rate as I.ender
shall request. If C.cnder has waived the option to accclcrate provided in this paragraph 17, an 1 if Bo~ rower's successor in
interest has executed a:vriuen assumption agreement accepted in ~ti•riting by Lender. 1_en~~r ~hall release Borrower from al) _
obligations undcr this Mortgage and the ?Vote. _ -
' 1f I.ender exercises such option to acce~~rate, i.enuci snall mail Borro~er n.~tice ~f acceleration in accordance wilh 3
paragraph 14 hereof. Sueh notice shall previde a period c~f not Icss ihan 30 da}~s from ii~~ date the notice :s ~~~a:lt~ within ~
~•hich Borrower may pay the sums declared due. If Borro~~er fails to pay such sums prior to the expiration of such periocl, ~
[.ender ma}•, without further notice or demand on Korrow~cr, invoke an}• remedics permitted b~• paragraph 1R hereof. s
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NON-UNIFORi~i COVt,~n:vTS. ~arr~w~r ar.~+ fu?ine: covenant anJ agrec as failows: - ~
18. Acceleration; Remedies. Except ~ provided in paran~~h 17 ~er~eof~ upon Barrower's breach of any c~~•6 ~ant a~' F
. agreement of Borrower in this Martgsq;e, including the co.~enanfs !o ~ay when due an~~ sums secured by t4~ts Mortgage, ~,ender ~
prior to acceleratlon shali mai) notice to Borror+•er as provided in parag~s+ph l4 hereof specifying: (1) the breach; (2) tte s~ction ~
- required to cure such breach; (3) a~ate~-not less than 30 days from the date the notice €s mailed to Borrower, by which such ;
Breach must be cared; and (4) that failure to cure such bre~ch on or before ~the date sgecifitd iQ the notlce ~nay resdt in - ~
acceleration of the sums s~cnred by this Mortgage, foreclosure by judirial proceeding and sale of the Property. 'Il~e as~tire ~
shall further inform Borrower of the tight to reinstate afler acceieration aild the right to assert in the foreclawre pmceedin¢ 1
, the non-exis4ence Qf a dPfauK or any other defense of Borrower to acceleratlon and foreclc>sure. If the btetch is not core~ an t
or Dtfore the dafe specified in the notice~ Lender at Lender's option may declare all of the sums ~ecured by this Mortgage to be ;
~ immedlateiy ~ue aad pay~Me withoui further demared and may foreclose this ~1o~`.gsge by judicial prexeedir~. Lende~ shail ~
t,e entitled to co11eM in such proceedirei; ail ezpeuses of foreclosure, including, but not [jmiled to, ressanabk attorney's fees, ~
and costs of doeUmentary ev3dence, abstracts xnd t3tle reparts. .
19. Borrower's Ri~ht to Reinstate. Notwithsianding I_endcr's acceleration ~f the sumt secured by this Mortgage,
Borrower shall have the right ro have any proceedings hegun by I.en~er to er.force this ~tor~gage discontinued at any time
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