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; I.endcr's «•riucn A~reement or applicable la~~~. 13orru«~~r sha11 pAy thi amoun~ af all mortgage insurancc premiums in the
manner providtd under parngraph 2 hcreaf.
~ Any amountc disbursed by I.cnder pursuant t~~ this paragraph 7, with interest thereon, shall became addilional
~ i~debtedn.ss uf florroHCr secured by this Martgage. Unless Rort~~~•er and I.ender agree to otF~er terms of pay~ le~nt, such
~ amounts shall he pa~~able uron notice from t.ender to F3or~oH~er requesling payment th~reofyand shal) bear intere;t~fM~ the
date o( disbursement a! Ihc rate payahlc from timc to timc .~n oiitstanding principal under the Note unless payment of
interest at sueh ~ate waulcl be conirary to applicable law, i~ ~ti~hich event sueh ama~.~nts shall bear interest at the highest rate
j permissihle under applicable law. Nothing contained in this paragraph 7 shall require I.ender to i~cur any expe~se or take
any action hcreunder. '
8. inspection. Lender mt~~ make or ca~ue to hc; madc reasonafile eniries upon and inspe,tione of the Property, provided
that I_ender shall give A°ricnver notice prior to any s~~~h ins~xction speci,ying re~sonable cause therefor related to I_ender's
~ interest i~ the Property. :
9. Condemnafion. The pracecde of ariy a~vard or cluim for ~lamages, direct or consequential, in connection with a~y
; condemnation or other taking of the Property, ar part Ihercot', or for conveyance in lieu of condemnation, are hercby :?ssigned
and sh~tl bc paid to I_endcr.
~ In ihe event of a total taking of the Prope~iy~, the proceeds shall be applied to the stims sect?red by this riortgage.
~ ~vith the excess, if any, paid to Barrowcr. In thc event of a partial taking of the Property, unless BorroH~er 1nd I_ender
~ otherwise ageee in writing, there shail be applied to ihe sums secured by this Morlgage such proportion of the proceeds
. as is cqual to that proporlion which thc amount of thc sumt scciircd by this hiortgage immediately prior to thc date of
~ taking hears to the fair market value of the Aroperty immediately~ prior to the d;~tc of ~aking, ~vith the balance af the proce~ds
° paid to Borrower. ~ .
' if the Property~ is abandoned by AorroH~er, or if, aftcr notice hy I.ender to Borrower that the condemnor oflcrs to make
an award or settle a claim (oc damagei, Borro~•er fails t~ respond to I_cr~der w~ithin 30 d~~~s after Ihe date such noticc is
~ mailed, I.ender is authorized to collect and applp the proceeds, at I.es~der's optian, either to restoration or repair of the
~ Property or to thc sums secured by this 1~4ortgagc.
t Llnlcss Cender and $orroH~er other~~~ise agree in ~+~riti~~g, any such application of proceeds to principal shall not extend
g ~ or postpone the due date of thc monthly inslallmcnts rc(errcd ta in paragraphs 1 and 2 hereof ~r change the amount of
~ such installments. _
• 10. Borrower Not ReleASed. Extension of the timc for payment or modification af amortization of the sums secured
; by this ASortgage granted by I.endcr to any successor in intere~t of Borrower shall not operate to release, in any ma~~er,
4 the liabilit~~ o! the original Borrower a~d BorroH~er s successors in interest. Lender shall not be required to comtnence
t proceedings against such successor or refuse to extenci time for payment or otherw~ise madify amortization of the sums
secured hp this Mnrtgage h~~ reason of :in}~ demand made by the oriQinal Barrow•er and Borrrn~•er s successers in interest.
; l l. Forbearance by I.ender iVot a R'ai~•er. An~~ forheurance h~~ I.ender in exercising any right or remedy heret+nder, o:
~ ~thecwise aflorded by applicahle law, shall not he a wai~•er of or preclude the exercise oi am~ :uch right or remedy. ~
; The procurement of insiuance or t~~e payment of taxes or other liens or charges by I.ender shall not he a«~aiver of I_ender's
~ right to accelcratc the maturitti~ of the indebtednecs ccct~rcd h~~ this Alortgage. -
l2. Remedies Cumulative. All remeclies pro~~ided in this 1ltortgage are distinct and cumulative to any other right or
remcd}• under this Mortgage or afforded hy la~~• or equot~~, and ma}• he exercised concurrenUy, independently or successivel~•_
; 13. Successors and Assigns Bound; 7oinf ancl Seceral I.iability; Capteons. The c~venants and. agreements herein
~ conlained shall bind, and the rights hereunder shall inure to. the fCSpective succrssors and assigns of 1_ender and Borrow~er.
! suhject to thc provisions of paragraph 17 hcrcoL Alt covenants and agrcements of Borro~~~er shall be joint and several.
~ "Tlie captians and headings of the paragraphs of Ihis I?lortgage are for canvenience only and are not to be used to
! intcrpret or define the pro~~isiorts hercof. ,
; !4. Notice. Except for any notice req~~ired tinder applicable la~~• io be given in another manner, (a) an}~ notice to
~ ~ Borro~t~er provided for in this I~torteagc shall be gi~~cn b}~ n~~iiling s~~c1i ~zoticc ~~:rtified mail addresscd to Borrower at
~ the Property Adciress or at such other address ~s Bnrr~~«~er ma~• designate b~~ nat~ce to I_en~ler as provided h..rein, and
; (h) any noticc to Lender sha11 be gi~~en hy certified maii, retum receipt requested, to I.ender e address stated herein or ia
s- such other addcess as I.ender may designate b~• notice ta Eiorro~+•er as pro~•ided herein. Any notice provided for in th4s
; b4ortgage snall bc deemed to ha.~c becn given to BorroH•cr or 1_ender ~~•hen given in the manner designated herein.
j I5. Uniform Atorigat;e; Go~~erni~~ I.aw; Se~•erabiljh•. Thic form of mortgage rombines tiniform covenants for national
3 use and non-uniform covenants with limited variations h~' jurisdiction to constilute a unifo:m securit~• instrttment covering
~ real property. This Mortgage shall be grn~crned h~~ the la«~ of the jurisdiction in which the Property is located. Tn the
event that any provision or clause of this hiortgage or the \otc conflicts ith appiicable laK~, such conBict sha11 not afiect
I~ other provisions of this Mortgage or the Note «~hich can be gii~ea eRect «~ithout _the conflicting provision, and t~ this
end the provisions of the Mortgage and the ~lote are dcclared to bc severablc. ~
( 16. Borrow•er's Copy. Borro~t•er shall be furnishe~ a conformed cop~• of thc Notc and of this 11~ortgage at the time
~ ~f execution or after recordation hereof.
1'7. Transfrr of fhe Property; Assumplion. If alt or an}~ ~.art of ~hc Property or an intcrest thcrein is sold or transEerred
~ b~~ Borrowcr H~ithout Lender's prior ~•ritten consent, e~cluding (a) the crcatinn of a lien or encambrance subordinate to
this MortgagP, (b) the creation nf a purchasc money securit~~ interest for household ~ppliances, (c) a transfer b}• devise,
descent or by opcration of 1aw~ upon the dcath of a joint tenant or (d) thc grant of any leaschold interest of threc years or less
not containing an option to purchase, Lender may, at Len~ier's option, declare afl the sums secured by this Mortgage to be
• immcdiately due and payable. Lender shall have waived surh option to accelerate i!. prior to the sale or transfer, I_ender
a~d the person to whom the Property is to be sold or transfe~red reach agreemen~ in ~•riting that the credit of suct? persan
is sati~factory to Lender and that the interest payable on the sums secured bp this ~1ortgage shall be at such rate as Lend~r
~ shall request_ if I_ender has waived the option to aceelerate provided in this paragraph i7, an;1 if Borrower's successor in
' interest has executed a written assun~ption agreement accepted in w•riting by I_ender, Lender shall release Borrower from all _ t
- obtigations under this Mortgage and the Note. . ;
If Lender exercises such option tc accelerate, l.encier shall mail Barr~ti•er notice of ac~eleratien in accordance with _
~aragra~*h 14 hereof. S~~ch notice~shall provide a period ~i not less than 30 days from the date the notice is mailed within
w~hich ~orrower may pa}~ the si~ms declareJ d«e. If Borro~~er-fai{s to pay stich sums prior to the expiration of such peried,
I_en der may, wit hout furt her notice or demand on-13orrow~cr, in~_oke any rem~dies permit~ed b}~ paragraph 18 hereof.
~ Nox-UtvtFOxt~t Coverr~tvrs. Borrower and Lender further covenant and agrce as foilows: i~;-
18. . Elcceleratioa; Remedtes. Except a~s pror•ided in paxagraph 17 hereof, upon Borrowers bre~ch of any covenxnt or -
agreement of Borro-s~r in this Mortgage, includirrg the ca~•enants to pay when due an~~ sums secured by this Mortgage, Lender
prior to ~cceleration shall mail notice to Borrower as pro~•jded in paragraph 14 hereof specifying: (1) the breach; (2j t1~~ a:tion
reguired tv cure suc6 bres~ch; (3) a date, not l~ss than 30 days from the date ts~e notice is mailed to Borrower, by whkh sach
_ breach must ~e cure3; and (4) that failure to cure snch breach on or before ihe date specified in the notict may resnlt in ~ =
xceler~t~vn of the stsms secnred by ihis Modgage, foreclosure by judicis~i proceed'eng and sale oE the Property. T1~e noticr
~ shall further inform Borrower of the right to reinstate after accekratjon And tbe right to assert in the forecioson procse~in~
~ We noa-existence of a defanlt or any o#her defense of Borrower to acceleration and foreclosure. tf the breach Is not cartd on
or btfo~e the date speciBed in the notice, I.ender at Lender's option may declare All of the sums secured by this Mort;age to bz #
immediately dGe and paya6k without furtber demand and mav foreclose this Mortgage by judicial proceediu~. I.ender slwll
be entided to collect in suc6 proceeding aD expeoses of foreclosure, including,~but not Iimitcd to, reasonaWe sttorney's Iees, '
and costs of docnment~try evidence, abstracts snd titk reports. i
' 19: Bairow~r's Right to ReL~stste. Notwithstanding Lender s acceleration of the sums secured by this Mortgage, #
Borrower shall have the right to hav~ any proceedings begun by I_ender to enforce this 14iortgage discontinued at any time ~
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