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I.encler's written agceement o~ applicable 1~~~•. Rorrower shall pay thc amount of ail mortgagc insuran~e {~temiums in the
manncr proviclcd u~dcr ~ar~gr:~ph 2 hcreof.
An}' antounts dishursed by I.enctcr pursuant t.~ thi~ parabraph 7, with inlcrest thereon, shal! hecame additional
inciehiedness of ~3o~ro~~~er secured by this i~~o~tgage. Unless Horro~~~er ~nd l.ender agrec to athcr terms of p+yment, such
amounts shall bc payablc upon noticc f~om l.endcr tc~ I3~~rro~~~cr ~eyucsting payntenl If~crcol, nnd sF~all t~ear interest_from the
clate of dichurscment at the rate payahle frora time to time on atitstanding prineip~l u~ld~r th6 Note nnless payment of
interest at such rlte ~vould be contrary to applicable law, in ~~~hicn event such amounts`shall bear interest at the highest rate
permissible under applicablc 1.^.w. Nothing conlained in this par~graph 7 shaU req~~ire I.ender to incur a~y expensa or take
any r.ction hercundcr. ' . ~ ~ ~
8. Inspectton. I.ender n~a~~ makc or ra;ise to tie madc reaSOnaMe cmrics upon and inspcctions of the Aroperty, provi~~ed
that I.ender shall give Borrower notice.prior to any ~ucn inspection specifying reasanabte cause th~refor related ta i.end~r's -
. intcrest in thc Aropcrty.
~ 9. Condemnntion. 'Thr pmceeds of :~n}~ a~vard or clnim far damaees, direct or consequential, in connection with 1ny
condemnation or other taking of the Property, or part th~reof, or f~r conveyance in lieu oF condemnation, are herehy assigned
anc! shall bc paid to I.endcr. ~ ' .
In the cvent af a total taking of Ihc Propcr~y, the proceeds shall be a~plied to the sums secured by this Martgag:.
- ~vilh ih^ excess, if any, p~id to Borrower: In thc cvent of a p:~rtial tai:ing of Ihe Prope:ty, unless ~orrower an@ I_cnder
other~sise agree in ~?~riting. them shall he applicd to ~he sums sect~rec! hy this I~iortgage xuch propc?rtian of the proceeds :
as is equal to that proportion ~vhich the amount of the stims sec~ired by this I~iortgage i~nmediate{y prior to the date of
taking hcar to the fair market vafuc pf thc Pr.~pcriy immediately prior to thc datc of taking; with the balance af the. pmceeds
paid tn BorroH•cr. ~
If thc Aroperiy is abandonecl bj• Iinrro~ti~er, or it'. after ~otice hy I.ender t~ Borrower that the condemnor offcrs to make
a~ uwarci ar settle a claim (or damages, Iiorrower fails to res{x~nd to i.ender within 30 da~-s after the dlte such notice is
mailed, Lender is a~~thorized to collect and apply the proceeds, at I.ender ~ option, either W rettorat+on o~ repa+r of the
- . Property ar to the cums secured b}~ this Mortgage. ~
Unless Lender and Borro~~~er othen~~ise agrec in ~~~riting. any such application of prcxeedc to principal shall not extend
~ or postpo~~e 1hc due date o( tfic manthly installmcnts mfer~ed ti~ in paragraphs i and 2 hereof or change the amount of
such installments. -
l0. Borrow~cr Not Releaced. _Extension of the time ior (~ayment or modification of amortization uf the sums secured
by this I~iortgagc granted by Lendcr to any successor in intcrest of Borroa~er shall not operatc to release, in any manncr,
the ~iability of the original Borrow•er and B~rroH•er s successors in interest. I.ender shall not he required to commence
~ proceedings against sueh successor or ~efuse to ex:end tim~ for paymeni or otherwise madify amortization of ifie sums
secured by this Mc?rtgage hy reason of any den~and madc b~~ the original Borrow•er and F3orrower's successors in interest.
ll. ForbeArance by Ixnder 1~'ot a Wai~•er. :1n~~ f~rbcaranrc 6)• I_ender in exercising an~~ right or remedy herennder, o:
otherwise atTorded by applicafile law, shall not be a waiver of or prcclude the exercise nf an~~ such right or remedy.
Thc procurement af insurance oc the payment of laxes or olhcr liens or charges by I_ende: 5}11I~ IIOt hC :i «~aiver of I_ender s~
nght to accelerate the maturit~~ of the indehtedne~s ~ecured hy this ?ltorigage. .
l2. Remedies Cumulafive. AU ren~cdies pro~~ided in this Mortgage are distinct nnd cumulative to any othef right or
remedy under this Mortg:~gc or afforded hy la«~ or equity, and ma~~ he exercised cancurrentl}•. independentl}~ or successivel~~.
l3. Successors and Assigns Bound; Joint and Sc~•eral i.iabilits; Captions. The ca~~enaMs and ~greements herein
containcd shall hind, and thc ri~hts hereunder shall inure to, th~ res~ective successors and assigns of I.ender and Bo~ rower,
su6ject to the provisions of paragraph 17 hercof. All covenants and agrcements of Borro~~•er shall be joinf and several.
The captians and he~dings of the paragraphs ~f this l~iortgctgc are for convenienee or~ly and are not to be used to f
intcrpret or define thc provisions fiereof. - j
l4. Notice. Except for anv notice req~sir~d i+ndes applicable la~~~ to be given in anothcr manncr, (a) any notice to • ~
~ Borro~ver provided for in this Mortgage sh~;il be. gi~•en h~• mailing such notice by certified mail a~dressed to Borrower at
the Property Address or at such other address as Barm~•er ma~• designate by notice to Lender as prnvided herein. and
(b) any notice to t.ender shail be given h}~ cerlificd mail, return receipt reyuested. ta. l.ender s address slated her~in or to
such other address as Lender may des~~nate by noticr to Borro~~~er as provided herein_ Any :~otice provided for in this
Mortgage shall bc deemcd to have been gi~•cn to Qorro«~c~ or l.cader ~~•hen g+vcn in the manner designated_herein. ~
' 15. Uniform tllortgage; Go~•erninR i.a?s; Se~~erabilitr•. Thic torm of mortgage comhines uniform covenanis for nationai
?se and nnn-uniform covenanls ~~~ith iimite~l variations b~• jurisdiction to constitute a unifo,~n security~ instrument covering
~~al property. 'il~is Mortgage shal{ be governed b~~ the law• oi' the jurisdi~tion in which thc P`operty is located. In the
_ event that any provision or ciausc of this A~ortbage ~r the I~ote cOnftfcis ~.ith appficable iaw, such conflict shall not a~ect
' other provisionc c~f this Mortgage or the Note which can be gi~•en effect without the conflicting provisio~, and to this
end the provisions of the Mortgage and the I`bte are ~cclared to he se~~erable.
16. Borrowe~s Copy. Borrow•er sliall bc furnishecl a conformcd copy of the Notc and of this Aiorigage at the iime
of exccution or after recordation hercof.
.17. ' Tra~sfer of the Praperiy; Assumplion. If all or an~~ part of the Prape~ty or an inierest therein is sold or transferrcd .
by Bormwer without LeiidePs prior wriuen consent, excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase mone~~ security interest for household appliances, (c) a transfer by devise.
descent ~~r by operation of IaH~ upon the deaih of a joint te~iant or (dl. the grant oF any leasehald interest ot threc ycars or less _
not containing an option to piirchase, I_ender may, at Len~er's optdon. declare all the sums secused by this riortgage to be
~ immediatety due a~d payable. I_ender shall have w~ai~•ed such option to accelerate if, prior to the sale ~r.transfer, I.ender ~
and the person ro whom the Properiy is to be ::old ~r transferred reach agrcement in w•riting.that the cretiit of such person
is satisfactoty to I,ender and tha~ the interest p2yabie on the sums secured by ihis Mortgage shall be at such rate as I_enc~er .
st~all request. If i.ender has waiveci the o~;tion to ac.^.terate prosided in this paragraph l?, an~ if B~rrower's succ~ssor in
interest has executed a written assumption agreement accepted ~n rc~riting by Lender, i.end~~ Shali release Barrow~er from all
ouligatians under this Mo~tgage and the Note. . - ~
If i_ender exercises such oQtion to accelerate. Lender .haif mail Borrow•er notice ~~f acceleration in accordance with
paragraph 14 her~~of. Such notice sha11 provide a period of not less than 30 days frorn the daee the notice is mai~ed within
~ which Borrower may pay the sums declared due. if Borrouer faits to psy s~ich sums prior to thc expir:~tion of such period, -
I_endcr may, without further noticc or demand on~Borrou•er, i~~oke any remedies permitted by paragraph 18 he~eof.
NOPI-UN[FGRM COVEi~tAN7S. BOI'(OWe." and Lender further covenant and a3ree as follaws:
l8. Acceleratioa; Remed~es. ~xcept as psovkle~ irs par~;ra~h 1 i hereof, upon BorroRtr's brcach of ~ny cavtnaat or
~reemen! of Borrower in tht~ Morfgage, insiuding t6e co~•enAnfs ta pay whcn du~ nny ser.~ §ecnred by this Mortgage, Les~der
prior to sccekration sbaH ropll notice to Borrower as Rrovided in ps~ragraph 14 t~ereof specifyiag: (1) tbe breach; (2) tbe netion
required to core snch b:Yach; (3) a date, not itss than 3~ days from t~e dste tiee ~wtics Ls mailed to Borrower, by r+hkh sacb
breACh most 6e cend; aad {4) that ttil~n to cure snch bre~r fi on or b e
fore t
h e d a
te s
p e r
ffied ia not~ece r~ y rtsoN iu
- acceler~tlon of tt~ saras strured by thk biortg~ge, forecbwre by jadicis~! proceeding ~d sale di tt~ Property. 'Il~e o~?ticz
shall further inform Dorrower of the ri~6t to ntr?stste after sccekrntion And t?~e rigbt to ~sse~t in tt~e forrciowre pcoceed~e~g
the non-existert•:e oE a drfaait ~r nny other defease of Borrowcr to sccekrtrtio?R st~d foreclosnre. tf tbe brtscb is not c~tred on
. or brtore the aate sperifie~ in the aotke~ Lende~ at Lende~s opiion Qeay declue nq of !he soms serared by t~ rtortsage M be
imneedbtely dae xad paysbk wit~aat fu~tber de~r,~nd ~+d may fomtosc tfiis MortgaAe by judiciaf ~xocsediu~• Lrnder shalt _
~ be enNtkd to coikct in s+ecb procetdint p8 sxpeoscs of fortcbsure. ir~cluding, lwt c~ot lir~itrd to, ressoaable attorae7's tees+ -
And costs of ~Iocnme~ary evidence, sbstrscts sad tkk rcports. _
!9. B~rro~+e~s Riaht to Rtinstaite. Notwithstanding Len #er's acceleration of the sums sccurcd by this Mortgage,
Borrower shall have the right to have any praceedings begun hy 1_ender t~ enforce this Mortgage dixontinued at any time
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