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. ~.endcr's wriiten agreemcnt or applicable law. Borrower shnl) n~y thc amo~mt of oll m~nga~r f}~surence prpr~t~m~ In the
manner ~?rov(d~c1 undtr paragraph 2 hereoi. ~
' Any amounts disbursed by i.endef pursuant to this pa~aa~aph 7, with interest thtreon, sha11 become additional
indebtedness of Botrower securcd by this I~iortgage. Unless Horrowzr nnd I.c~de~ agree to otAer terms of paynSent, such
. _ amounts shall be payable upon natice f~om I.ender to Borrowcr requccting paymcnt thercof, and shali bear interest from the .
date of disbursrment at tha rate payablc f~om timc ta t~me on outstanding principai under lhe Note unl;.ss psYment oi
intertst at sucn rate would bo contrary to ~+pplicable law. in ~~~hi~h event such amoun~s shall bear interest at the hi~hest rate
pcrmissible under applicable law. N~thir.g contained i~ this parag~aph 7 shalt ~eguire I.ender to incur any ~xpense ot take
any action hcreunder.
8. TnspteHon. ~ender may make or cause to be made rea~onable entries upon and inspections of the Property. providtd
that C.endtr sh~ll gi~e Borrower notice prior tu any such inspection spe~ifying rcasonable cause therofor related to I.endtr`a
intcrest in the Property.
9. Condemnstion. The prcxeeds of any a~~~ard ar c;laim far damaees, direcl or constqnential, in con~section with any
' condemnation or other taking of the Property, ar part thereof, or t.?r convey:+nce in lieu of ~condemnation, are hercby assigned
and shali be pa+d to I.ei~der. ~ ~
In Ihe event of a total taking of the Prope~t)~, the proceeds sha41 he arp~ied ta th~ su7tis securtd by this Mortgage,
with the excess, if any, paid to Borraw•er. Tn the eycnt ~~f a partial takinR of thc Property, unle~s Borrower and Lt~de~
; c~therwice agree in writing. Ihcre shall be applied ta the sums secured hp this Mortgage sucn proportion of the procetds
as is equal to that propartion which the amount of the sumc secured b~~ this MortRage immediately prior to the d~te of
I taking hcart to the fair market val~ie of the Propcrty immediatcly Prior ta thc date of takirig, wilh the balanr.c of the proc~tJs
i p3id to Borrower.
~ If the Propcrty is ahandaned by ~orrow•er, or if, aftcr notice bp i.endcr to Brrrowcr that the cendemnor offen to make
~ an award or settle a c1aim fc?r elamagec, Barrower fails to rrspond to I_ende~ within 3Q days after the ciate sucT~ notice is
mailed. Lender is a«!horized to collect and app4y the proceeds. at I.ender's option, eithe~ to restoration or nepair of the
' Aroperly or to the ~ums secured hp this 1ltortgage.
~ Unless I.ender and Borro~~~er otherwise agrec in ~~~ritin_r. an~~ such application of proceeds to principal sh~ll not extend
~ or postFone the due date of thc monthly inslallments referrcd to in raragraphs t arid 2 tiereof or change the amount of
such installmcnts. ~
10. Borrow~cr Not Rcleased. Fxtension of thc timc for paymcnt o~ modification of amort+zation of,the sums secui^erd
by this Mortgase granted b}~ I.ender to any ~uccescor in intere~t of BorroH•er sh~ll'not aperate to r~te~3e..in an~ 'mannEr.
# the liabilily ~f the oricinal BorroH•er and B~~rrower'~ succes~or~ in interest. T_ender shall not be rec~i~iFed, ~o co~tmenco
{ proceedings agai~st such successor or refuse to extend time for paymenl or otherN~ise madity amorii~atiar~,,of. tht; sums
1 secured by thic 1?iortgage hy reason of any demand made b)~ the orieinal Eiorrow~er and Bor~ower's~success~r~ in in'4ertst. _
~ I1. Forbearance by i,rnder \'ot a~iai~•er. Any f~rhearance M• i.cnder in exercising any,~ight or temedy hareur~der, or
3 otherwise affiorded by applicahle law, shall n~t he a waiver of ~r preclud~ the exercise, pf any sucti right or reinedy.
't - The proc~~rement of insurance or the payment of taxec or other liens or charges by 1_ender shall not be a waiver of Lender's
~ right to acceler~te thr malurily af the ir.dehtednea secured h~~ thi~ titongage.
!2. Remedfes Cumulatir-e. Ai: remeciies pm~•ided in thic ~iortgage are distinct and c~~mi~lative to aay other right or
remeJy under this Mortgage or afforded hy !aw~ or equity, and may t~e e~ercised concurrently, independenNy or successively.
13. Snrcessars s?nd A:~iRns Bai~nd; loint and Se~-erai T.iabilify; CapNons. The covenants and agreements herein
contained shall hind, and the ri~hts hereunder shall inure to. the respective successors and assigns of I_ender ae~' "`orrower.
subject to the ~:c?visions of paragraph 17 hereof. All covenants and agreem~nts of Borroµ•er shall be joint a:~a several.
'f'he captions and headings of the paragraphc of Ihis Mortgage are for convenience oniy and are not to be used to
in~erpret or de~ine the provisions hercof. •
14. Notice. Except for a~y noiice rcq~+ired under applicab{e la~• ta be .given in another manner, (a) any notice to
Borrow•~r provided far in thi~ Aiortgage shall be given hy mailing such notice by certified ma+! addres~ed to B~rrower at
the Property Address or at such other address as Borrnw~er may designate by notice to Lender as provided herein, and
~ (b) an~ notice to Lender sfialt he given by certified mail, return rcceipt requested. to I-enders address stated herein or to
cuch other address as Lender ma~~ clesignate by nodce to Sorroa~er as provided fierein_ Any notice provided f9~ in this
~ ~tortgagc shall be deemcd to ha~•c becn gi~•en to RorroW~er or l.cnder ~+•he~ gi~~ea in the n~anner designated herein.
s lS. L'niform MnrfR~~;e; Gm•ern~n~ Law: Seserabi:lty. Thic form of mortgage combines uniform covenants ~or nationa)
~ i?se and non-uniform co~•enan~c with limited varia~ians hy juricdiction to constitute a uniform~ security instrument covering
~ rea) propcrt}•. Thic ~iortgagc sha!{ bc govcrned fiy ~he law~ of thc jurisdic~ion in which the Propcrry is loeated. In the
~ event Ihai any provision or cla.ice of this ?~tortFage nr Ihe Note conflictc ~•ith applicable law, sUCh ccnfliet shall not affeet
other provisiont of this Mortgage or the Nnte µhich can be gi~•en efTect without the conflict~ng provision, and to this
end the provisions crf the Mortgage anJ the ~ntc arc ~icclarcd to he scverablc. ~
j 16. Boerow•e~'s Copy. Borrowcr shaH hc furniched a conformed ropy oi thc Note and of this !~iortgage at the time
' of exe~ution or after recordation here~,f. ~ ~ .
~ 17. Transfer of the Propertr; Assumption. If all or an}• part of thc Pmpertp ~r an intere;?. the~ein is sald or transferred
- by Borrower without l.ender's prior written consent. e~rluding (al ~he creation of a lien or enct~rnbranee subordinate tu
this Mortgage. {4~) the creation of a purchase money securih• interest for hous~hold appliantes. (c) a trantfer by devise.
descent or by oF~eration o; law upon thc death of a joint tenant or (d? ~he grant of any teasehold interest of tnree ~•ears or l~ss
not containing an option to purchase, l.ender may, at I.ender'ti optian, d~clare all the sums secured 6y this '~iortgage to be
immediatel~~ duc and payablr. Lcnder shall have w~aived such optio~ t~ accclcratt if. prior to thc sale or transfer, Lender
and tt?e person to whom the Property ic to be sold or trans(erred reach agreement in writing that the credit of such person
is satisfaetc~r}• ~o i.enc+er and that the interest payable on Ihe sumc seeured hv thi~ Mortgage shall be at st?eh rate as Lender
~ shall request. If l.ender has waiveJ the option to accelerale provided in this parag~aph 17, a[?d if Borrow~er's successor ;n
interest hac executed a written assumption agreement accepted in writing by I_en~er. I.ender shall release Bor~ower from all
obligations under this ~3c~rtgage and the Note.
If Lender exercises such option to accete~ate, Len~1~~ ~hall maif Bnrrow-er notce of acceleratia.n, in accordance v•?th
paragraph 14 hereof. Suctr notice 5lrall providQ a periaJ of not less than ?0 days from tt~e date ihe ~atice is ~rai;r3 wit~in
w•hich Borrav+•er may pay the sums declared di_e. If Borrnxer fa:ls to_ psy suc~ st~ms prior to the Axpiration of such period,
~ Lender may. without further notice or de~*±~r.c~ on Bo~ rower, invoke any remedies permitteri by paragraph 1R hereof.
' Nox-UHlFOent CoveN~r?ss. B~rrower an~ Lender further covenant and agree as faltaws:
~ 18. Acceltration; RemedZes. Except sis provided in p=ragraNh 17 fiereof~ upon Borrower's txeach of any co1en;nt or -
~ agreement af Borrower ~n this Moriga~;e, includin~ the covenants lo pay when due any sums securr.d by this MurtgaEe. I.eader
~ Qsior fo s?tceisntion s7~ai{ mAi1 notice to Borrower as provided in p~r3grapfi 14 hereof specifyiag: (1)1he bre~cb; (2i ihe acElon ~ ±
reqoired cure such bnach; (3) s~ da8e. not less than 30 dsys trom th~ date ihe notics is msiled ta Borrower, by whkb sucb ~ ~
breach mnst be cnced; ~nd (4) lhat fs~lure to cure sLCh bteach on or before the date sg~c'd'ied ia the Rotise may rssalt i~ `
, Accekr~tbn af the sums sccnred b;+ thEs Mort~ay~e, forecbsure hy judici~l pmseeding s~d sale of the Property. 't~e notkE
shsl! furtfitr inform Borrov?er of fhe right to reinstate sfter acreierAtion snd the right to asscrt in thr foreciosure praceedis~ ~
~ the non-ex~tence ~f a defa~tt or u~y other defsnse of Borrowe~ to acce?eratbn s~r~d foreclosure. If thc breach is not cmtd on
or befote the date specified in the notice, Lender ai Lendcr's option rnay declare Ali of the sntns secuscd by this Mort=aR~ to be
Immediately dus and payabk withoot fnrther demand :nd tnay forc~lose thts Mt?!~Ra~e by judicial ~rocecdin~. Lender shap
bs eatiNed to coilect in sueh ~roceedir~ nll exp~tcesss of forecfasore, Ir.rluding~ ~u; not ltmited to, re~sonibk ~ttorm~'s tets, .
snd costs oE docamentarY evi&ncq sbstracb snd titk reports.
~ 19. lbrrowtr's Rl~bt to Reinsfsite. Notwithstanding Lender's acceierat+on of the sums ueured by this Mortgage;
Borr~wer shall have the right to have any proceedings F~egun by iender to enforce this Mottgage di~continued at any time
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