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l.end~r's ~~~~itten ngrecment oc applic~hle l~w. E3orro~~er sh11) pa~~ the amuunt of all mortgage in~urnncc premipnts~i~ tfie
manner provided under p;~ragraph 2 hereo(. ~ '
Any amounts dist~ursed by I_cn~1c~ pursu~~nt to this par.?graph 7, with interest thereon, shall becone additiona)
in~lebicdzicss o[ Rorro~~~er seci?red hy ihis I11ortgage. Unlcss F3ono~~•cr ~nd I.cniicr agrce to othcr terms of payment, ~uch
amotmts shall be pap~bi~ upon r:aticc from I.ender ~o I3orn~~~~~r requcsling payment 1here~~f, nnd shall hc.,r intcrest from the
~ date of ~tishu~~scmcnt at thc r~tc payahlr. from timc to tinie on outstanding principal under t}i~ Note unless payment af
interest at sueh rai~ ~vould be conirar~• to applicable la~~•, in whirle event such antaunts shall hear intcrest at the highest rlte
permissiblc ~:nder applicable 1~~~~. ~lc~:!•~ng rnntained in this paragr~ph 7 shall require I.ender ,o incur any erpense or take
any action hcrcunder. .
8. Inspcction. i.c~~dcr ma}• make or cause to bc madc reatonahlc cntries upan and ir.spcctian~ of the Property, pro~~idcd
it~at I.endcr sh:~ll ~i~~e Aorro~~~er noticc prior ta ,?ny such inspcction specifying reasonable cause therefor related to I.ender's
intcrest in thc Pr~pcrty. •
9. Condemnntion. The proceede of ~np a~vard or claim for d,,m~ges, di~ect or consequential, in cannecfion with an~~
condemu~tion or other taking of ihe Property, or part thereof, or for conveyance in liet~ af condemnation, arc her~:hy assigned
and shall bc naid to I.cndcr.
In thc c~•c~t of a tatal taking of thc Propcrl~~, thc procccds shall hc :?rnr~a thc sums sccurcd hy this Tiortgagc.
~vith thc c~cc~c, if any, paid ta Borm~~•cr. Tn the event of a~:ifU1~ l:ll:lllj; Of f~1C Property, unless Borro~ti•er and 1.endcr
OlI1Cf~1'I5~ ~grce in ~vriting. there shall be applied to the sums securcd hy this Martgage sucFi propor!ion of the proceeds
as is equal ta tliat proportion which the an:ount of the sume secured by thi, ]1lortgage immediately prior to the date of
taking hears tn th~ fair market value oi the Aropcrty immediately prior to She date of taking, with the balance of the proceeds
paid to BorroH~er. .
if the Property. is abanc~aned b~~ Borrow~er, or if, after naticc hp I.ender to Borrower that the condemnor offers to make
an aHard or scttle a cl~im for dam~ges, Borro~~~er fails to res~nd tc+ Lcnder within i0 da}~s after the date such notice is
maiied, I.ender is authorized to collect and apply the proceeds, at T.ender'~ option, either to restoration or rt;pair of the
Propcr~y or to thc sums ~ecured by this 1ltortFage.
Unless I.ender and Borro~~~er othen~•ise agree in «~ri!ing, any such ~pplication af proceeds to principal shal! not extend .
or postponc thE duc datc of thc monthl~• installmcnts rcfcrrcd to in paragraphs 1 and 2 hercof or changc thc amount of
- such installments. -
10. Borron~er Not Released. Extensiore af the time for pa~~ment or mc~dification of amortization of the sumc secureci
by this Mortgage granted by I.ender t~ any successor in interest af Rorrow~er shall not operate to release, in ; ny manner, ~
the liabilit}~ of- the original Borrower anci iiorro«•er's sucressors in interest. i.ender shall not be reqaired to commence
proceedings against such successor or refuse to e~tend time for payment ar othe~~ise modify amortization of ihe sums
- secured by this Mortgage by reason of any demand made by the ori£inal Borrow•er and B~~rro~ti~ers succestors in interest.
~ 11. Forbearance by I.ender Not a Wai~•er. An~~ forhearance b~• t.ender in e~ercising an}~ right oi remedy hereunder, o:
. othen~~ise afforded h~~ applicable law, shall not he :i wai~~er of or preclude the exercise of any such right or remedy. ~
Thc prescuremeM o~ insu; ance or thc payment of taxes or other liens or charges hy I.ender snall not be a~~•aiver of Lender's
right to accclcratc the maturity of thc indchtcdnccs sccurcd h~~ lhis ;:iortgagc.
~ 12. Remedies Cum~ilati~•e. All remedies pro~~ided in this Tiortgage are distinct and cumulati~•c to any ~ther right or
reme~!}° •:,;;cr ii?is Mortgage ~r afTor:ied h~~ 1;,~~~ ~r e<;uity_ ~nd n~a~• he exercised coneurrently, independently or sneeessively. _
~ 13. ~uccessors and Assigns Bound; Joint and Se~eral .T.iability; Captions. The covenants and agreements hercin
contained shal~ hind, and the r~Rhts hercunder shall inure ta. the respective successors and assigns of I.ender and I3orroH~er,
~ subject to Ihe ~+rovisions of paragraph 17 h~rcof_ All .co~•cnants and agreentents of Borron•er shall be joint and se~•eral.
~ The captions and headin~s of the ~aragraphe of thi; ~iortgage are for con~enicnce only and are not to tze used to _
ioterpret or define the proeisions hercof.
± 14. l~'otice. Excep[ for any notirc required im~ler applicabte la~r to be given in another manner, (a} ,tny nfltica to ~
t - Borro~ccr ro~•ided for in this Mort a c~fi~U tx
P g g gi~-cn h~• maiiing such noticc by ccrti.ricd mail addresscd to Sorro«•er at
the Properiy Address or at such oiher addrecs as Borro~~~er ma~~ designate b~~ notice to T.ender as providcd herein, and ~
-(h) an~~ notice to Lender shall he gi~•cn b~~ certified mail. rcturn receipt requested. to I.ender's address stated hcrein or !o
such other address as Lender may d~.i~nate b~~ notice t~~ Borroa~er as provided herein. Any nolice prevideo fe~r in this
Mortgagc shall be deemed to have bcen gi~~en lo Borro~~•er or I.ende~ µ~hen given in the manncr designated hercin.
i l5. Uniform Atort~age; Go~•ernin~ I.aK; Se~•erabiiity. This form af mortgage combines uniform covenants for natioaal
~ use and non-uniform c: ~~enams ~ai;h iimited ~:;r~3tions h~~ jurisdiction to consti:ute a~nifo:m security instrument covering
real propert}•. This l~tortgage shal) be go~crned hp the Isu• of the jurisdi;,tion in wfiich the. Property is located. In the
; event thwt any provision or clau'se of this Mortgage or the \ote confticts ~~•iih applicable law, such .conflict shall not affect
other provisions of this 1lfortgage or the i~tote ~~~hich can be gi~~en effect ~~~ithout the conflicting provision, and to this «
end the provisions of the Mortgage and the 1~'otc are declared to he seve~ ahle. . #
16. BorroK~er's Copy. Borrowcr shall bc furnished a ronformed copy of the ~lotc and of this viortgage at the time ~
o( erecution or after recordation hercof.
17. Transfer of the Properf~~;.Assumption. If all or any part of thc Property or an interest therein is sold or transferred
by Borrower w•ithaut I_ender's prior w•riuen consent, exclyding (al the creation of a lien er encumbrance ~ubordinate to
~ this ;~iortgage, (b) the creation of a purchase mone~• sccurit~~ interest for househo'd applianres, (c) a transfer by devise,
_ descent or by operltion of law~ upon the dcath of a joint tenant or (d) the grant of any Ieasehold interest of thcee years or less
~ not contairsing an option to purchase, I_enJer may, at 1_er~der's option, declare all ihe sums sec~~red b} ihis Atortgage to be
. immediately due and payahle. Lender shall have ~vaived such option to accelerate if, prior to the sale or trar.sfer, I.ender
and the person to whom the Properry is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactary to I.ender and that the interesi pa~~able on the sums secured by this 1lfortgage shall be at such rate as Lender
shel) request. !f Lender has waived the option to arcelerate provided in this paragraph :~n:l if Borrower's successor in
interest has executed a w~ritten assump!ion agreement acceptcd in writing by Lenc!er, Lender sha)l release Borrower from al! ~
~ obligatinns under this ;~lortgage and thc ?Vote.
If Lender exercises st~ch option to accelerate, I.encJer shall mail Borro~cer notice of arceleration in accordance with ~
. paragraph 14 hereof. Such notice shall provide a peried of nat tess than 30 days from the date the notice is ma~~e~ within
which Borrower may pay the ~ums declared due. If 8orro~+er faiis to pa}• such sums prior to the ezpiration of such period,
~ Lender ma~~, without fujlher notice or demand on _Borrow~er, invoke any rcmedies Enrmitted b}• paragra~h 18 hereof. ~
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~ NON-[JNIFORM COVENANTS. BOTTOwer and I_encler further covenant and agree as follows:
!8. Acce~eration; Remedits. E~ce~t as provkled in pAragraph 17 htreof, upov 8orrowe~'s breach of any covenaat or
~ agrePment of Borrower in this Morfgpge, includieg the cover.ants to pay when due ~n~• snms securrd by thts Mortgage, Lender "
~ prior to ~ccderation stwll mai~ notict to Borrower as provided in parsegraph 14 hereof sptcKying: the brcach; (2) th~ action
i required to curc such br~~h; (31) a dstte~ not less thRn 30 days from the date the notice is mailed to ~orro~ver, by Rhich sach
` brcACh must be cured; and (4) tf~at fseilarc to cure such breach on or ~fore t~e date specified in the aotke may nsdt in •
~ accekr~tten of tde snms secared by this t~tortgpge, foreclosure by judFcial proceedffeg xnd ss~ie of the Pro~?erty. The notict
shall further inform Borrower of the right to mirtstate after sfccelerstioi~ and fhe right to assert in the forcclosure practeding ~
thE non-ezistence of a default or any other defense of Borror+•er to acceleration and foreck~sur~. If the breach is oet cured on ~
or t~efore the date specified in the notice, Lender at Lender's option may declare all of the snr~s secnred by thk Mortg~e to ik ~
immediately dut aod pay~bk wih~out fnriher demand and ma~ foreclose this Mortg~e bi• audicis~l procceding. Lender shall
be entitled to colkct ia sucb proceedin~ all expenses of foreclosure, including, but not limited to, reasonaMe attornty's ftes,
~ed costs of docom~~tary evidcnce, abstracts aed title nparts. .
19. Bonower's Rjght to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Sorrower shalt have :he right to hake any proceedings begun by I.ender to enforce this Mortgage discontinaed at any time
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