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I.ender's written agrecment or applicable la~+~. liurro«cr shall pay Ihr amuimt uf ail nu~rtgage in~uran~e ~~rcntiums in thc
manncr,providcd under paragraph 2 hcreof.
• An}' amounts dishursc.l by (.cn~irr pur~uant tu lhis p:iragraph 7, ~~•i~h uucrctt thcreon, shall hcci~mc atiditi~nal
in~lehtedness of f3orrow~er sect~red h~~ this 111ort~;a~;e. Unle» Rorro~~•er an~l I rn~ler agrrr ta other terme ~~f ~~:~yment, cuch
. amounts shall hc E~nyahtc upon nolirr from l.cndcr tu Rc~rn,wcr rrquctilin~ p:i}•mrnt ~hrrr~~f, and ch:ill hcar intcrctt fr~m thc
date af disbursement at thc rate payahlc fr~~m time to time on outstanding rrinripal under thc Note ~~nlecs payment of
interest at such rate would be contrary Ii~ applicable la~~•, in ~~•hich event cuch am~unts shall hear interest at Ihe highest rate
permissible under applicaMe la~~. Ne~thing rnntained in this paragraph 7 shalf require I.cnder to incur any expense or take
any action horeunder.
8. Inspeetion. Lender may make or cause t~ he made reasonahle entrie~ upon :?nd insrectic~nc of the Prc~perty, provided
that I.ender shall give IIorrower nntice prii~r to an~~ such insrection tpecif~~ing reas~~nabte cause Iherefor related to Lender's
interest in the Property.
9. Candemnation. The proceed~ of an}~ a~~•ard c~r claim far damag~s, dire~t or c~~n~equential, in conneclic~n ~vith any
condemnation or other Iaking of the Property, or parl there~f, or f~~r cc~m•eyanre in lieu of condemnation, ~re herehy assigned
and shall bc paid to I.endcr.
in Ihe event of a total taking of the Properly, the ~rocee~k ~hall he c~p~lie~l t~~ the sums secured hp this I~tortgage.
w•ith the excess, if ~ny, paid to Borrnwer. In the e~~cn~ ~~f a p:~rtial taking of the Property, unlcss B~rr~~~ti~er and I.ender
othen~~ise agree in writing. there shall be appticd to the sumt secure~i h~• thic l~t~rtRage such proportion of the proceeds
as is equal ta that proponi~~n ~~~hich the amount ~~f the sumc secured hy this ~lortgage immediately rrior to the date af
taking bears to ihe fair market valur of the Property inimrdiatel~~ ~ric~r to the date ~f taking, ~~ith the halance of the prc>:eeds
_ paid to Borrower.
If the Property is ahandoned b}~ Biirrower, ~r if. after n~tice hy I.ender to B~~rn»ti~er Ihat the condemnor offers to make
an awarel ~r settle a claim for damarrt, B<~rro~ti•er fail. te~ res~x~nd tn l.ender ~~•ithin '(l ~la}•s after the date such notice is ~
. mailed, I.ender is authorized to c<~llrct and ap~ly the procreds, at i.ender's o~~tion, either to restoration or repair of the
Properip ~r to Ihe sums secured h}' this hiarl~age.
Unlest I_ender and Bc~rro~~~er other~ti~ise agree in ~+•ritin~. an~~ such aprlicati~m of prc~ceedc t~ rrincipa) shall not e~tend
or pc~stpone thc due datc of thc monthl~• instalimcnts rcfcrrcd to in r:?ragraphti 1 and 2 hcrcof or changc tnc amaunt of
such installments.
10. Borro~ver Not Rekased. fixtension ot the time for pa~•ment ar modification of amortization of the sumc secured
by this I~ic~rtgage granted by Lendcr tc, any success~~r in int~rett af Borro~ti~er shall not o~erate ta release, in any manner,
the liability of the origina~ Borro~~~er ancl B~~rrower'c sucrest~~rc in interest. Len~ler shall not he reyuired t~ commence
proreedings against such successor or fCfUSC to exten~l timc fc~r payment ~r othen~•i~e modify amnrtization nf the sums
secured by thie Alortfiage bp reaeon of an}~ demand n~adr b~ thr cui~ina! 13orm~~er .uid Bc~rrcn~~er's succesa~rs in interest.
11. Forbearance b}' i.ender t`'ot a Waiver. Any f~~rhear.~nrr h~• I.rnder in e~ercising an}~ right or remedy hereunder, or
othenvise af~orded h~~ applicahle law, shall n~t hc a wai~•er ~~f c~r preclude ~he ezercise of an~~ such right or remed~~.
Th~e procurement of insuranee or the payment ~f ta~es or other liens or charges h~• l.ender ~hall not he a w~aiver of I.ender's
right ti~ acceleratc the maturil}• of the indebtcdness serured h~• thi~ 1~lortgage.
12. Remedies Cumulalid•e. All remc~iics pm~•idcd in thie 1lortgagc are ~listinct and cumulativc t~ an}~ othcr right or
remedy unc3er thiti 1~4ortgage or a:Tordcd by laa~ i~r eyuily. and ma}• he r~erriee~! rimci:rrentl~~, independentl~~ ~r s~iccessivel}'.
13. Succcssors and A~.si~ns Bound; Joini and Sc~ era) [.iahilif}'; ('ap~ions. "rhe cc~~•enants and agrecments herein
containetl shal! hind, and the ri~hts hereunder shall inure ~c~. the res~ecti~~e surc~ti5euti .ind astigns of I.encfe~ and Borrou•er,
subject to the pro~~isianc o( paragraph 17 herrof. All ro~~rnants an~J agreementc c,f Bi~rru«•er shall he jc~int and ee~•eral.
The captions and hea~lings of the para~;raph~ c~f thiti *.i~rts:a~e are fi~r r~~menience ~~nl~• and arr nc~t to he used to
interpret ar define the provisi~n~ hercof.
14. iYotice. Except for any notice rry~iirrd uniler :~pplicahlr la~~ to he given in an~~her manner. (a) an~• notice to
E3orro~~~cr provided for in this M~~rt~agc tihall hc givcn h~~ mailin~ t~.ich noticc h~ ccrtifcd m:~il addresscd to Aorroti~•cr at
the Property A~drest or at such ~~ther addre~s at B~~rru~~er nia~~ des~[;na?r hy n~~tice te~ l.en~ler as pro~~ided herein, and
(h) any notice to I.ender shall h~ gi~~en h}~ ccrtific~l mail. return receiE~t requettrd. ti~ I ender'ti ad~lrels stated herein or to
such other address as I.ender mx)~ d~Signate h} n~tirc t~~ l3i~rn~~tier a~ pn,~~ide~l hercin. .~n~• notic~ pnwide~l for in thit
Mortgage shall be deemcd to ha~•c bren Ki~•en to E3<~rm«rr ~~r Lrndcr ~+hrn given in the manner designated herein.
l5. Uniform MortRaRe; Go~•erninR I.a~ti; Se~erabilit~. ~This (c~rm i~f mortga~e ciimhines unifornt ca~•enants for national
use and ne~n-unifi~rm co~~enantti w~ith limitc~l ~•ariatie~n~ h~~ juriti~lictii~n t~~ cc~nstitiite 3 UI11fOiI17 security instrument covering
real propert}'. This Mortgage shall he go~~erned h~~ thr.lau c~f the juris~licti~~n in ~+•hich the Pmperty i~ tocated. In the
event that an~~ provisian or elause of thi~ !~lortgat~e nr th~ ',`~~te cc~nfli~tti «ilh a~~licahle I1\4~, such conflict shall not a(fect
othcr provision~ of this hiortgagr ~~r thc N~~tr «hi~h c:sn hr giv~n e(Tcct with~ut thc conflicfing pro~~ision, and to this
end the provisions of the ~7ortgage and the \'~,tr ;~re ~ieclared tc, hr scverahlc.
16. Borrower's Copy. Borrowcr thall he furnishe~l cc~nf~~rned c~p~• ~f th~~ i`'ote and ~~f thit ~'(ortgage at the tirne
of execution or after recordation here~f.
.
I 17. Transfer of the Property; ~ssumption. If al! ~~r an~ part c~f the Prc~pert}~ c~r an interest theresn i: sold or tran~ferred
by Borrowcr ~E~itho?it Ixndcr's pri~~r wri~trn runscnt. cxcluding (;~1 the crcatu~n o( a licn or cncumhrancc suboniinate to
this Mortgage. (h) the creati~n ~f a purrha~e nume~~ ~erur~t~ interest f~~r h~~useh~~ld anpliances. (c) a ~ran~fer b~• devise,
~ descent or by ~~pcration of law upon the ilealh c~f a ji~int tenant ~~r (~i? the ~rant i~f any Icatehold interest e~f thrce ycars or lect
not containing an option to purchase, t.ender ma~~, ;it Lender'ti u~~tic~n. decl;ue atl Ihe cum~ serured h~~ this Mortgage lo be
immediatcly due and payahle. Lendrr ~hall hace «.~i~~rd tiuch ~~pti~~n ~c~ .~creler.~te if. ~ri~r to the ~afe or transfer. I.ender
an~i the person to ~ti~hom the Propertt~ ic to be solel c~r tran~ferrr~ rea~h agreement in ~sriting that the cre~lit of tuch pers~n
is satisfactory to I.en~ier and that Ihe interetil ra}'able c~n thr sumti tie~ured h~• thi. \tc~rtkage shall be at such rate as I.ender
shall request. If I.ender has ~~aived the c~ptic~n t~ accelerate prc~~~id~d in ths~ E~:~ragraF~h 17, an~ if Be~rrower's successor in
interest has executed a w~ritten assi~mption agrrement arrr~ted ir. ~~ritink h}~ Lcn~ier. Lcriiler shall relcase Borro«~er from all
_~bligations undcr ihis Mortgagc and thc Note.
- If Lender exercisc~ such c~pti~n ta acrelcra~e, Lrn~lrr ,h:lll mail B~~rrrn?rr ne~tire cif arceleration in acrnrd,ince w'ith
paragraph 14 hereaf. Such notice shall provide a peri~~~l ~,f n~n les, than 3~ ela}~~ fre~m thr date the notice is mailed ~ti•ithin
~t•hich Bcirru«~er ma}~ pay the sums declare~l du~. li B~~rro~+cr fail~ tc~ p:n• ~uch tumt pric~r to the expiration ~~f such periad.
Lendrr ma}~, ~cithout further notice i,r ~)rmand c~n l3~,rre~~cer, ;n~nke am remrdiec ~,crmit~e:i h}• paragraph 1R hc:re~f.
IIICIl1Pil! 10 Q~~1f01'l/I Of [l.SSlll)1/~11011. le~nde~r rc~.cc~n~es the righ~ tu chctngc~ nthe~r luu?~ ~c•rnt~ une/ tu re~yuire pr~i~me~N o/ all
uccrtic'[I llllP.`PSI.
NON-UNIFOR!~t COYEhANTS. Bc~~~Ow'Cf atlc! I.en~ler t"urther cc~~~en:int .~nd agree as follow's:
18. Aeceleration; Remedies. F.xcept as pra~•ided in paraRraph 17 hereof. upon Borrower's breach of any~ co~•enant or
agreement of Borro~r~er in this 11ort~aRe, including the co~enants to pa}~ when due any sums secured b}• ihis Mortgage, I.ender ~r
prior to acceleration shall mail notice to Bnrrower as prurided in para~raph 14 hereof specif}•ing: (1) the breach; (2) the action F`
_ required to cure such breach; (3) a date, not less than 30 da~•s from the date the notice is mailed to Borrower, by which such f
breach must be cured; and (4) that failure to cure such breach on or before the date specified ir. the notice may result in =
acceleration of the sums secured b}• this ~tort~age, foreclnsure b}• judicial proceedin~ and sale of the Property. 'I~e natice =
shall further inform Botrower of the riQht lo reinstate after acceleration and Ihe right to as.scrt in Ihe foreclosure praceeding
; the non-existence of a default or any other de(ense of Borrower to acceleralion and forectosure. If fhe breach is not cured on
or beiore the date specified in the nofice, i.ender at I.ender's oplion may dec{are all of the sums secured by this Mortg~ge to be
immediatply due and payable without further demand and ma~• foreclose this MortRa~e by judicial proceedfng. Lender shall
~ be enNtled to collect in such proceeding all expenses of fareclosure, includinR, but not limited to, reasonable attnrney's fees,
;
~ and costs oE documentsiry evidence, abstracls and tifle reports.
` 14. Borrower's Right to Reinstate. Notwithstanding Lender's acceleratic~n of the sum~ secured by this Mort~;age,
~ Barrower shall have the right to have any proceedings hegun h~• I.ender to enforce this Mortgage discontinued at any timt
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