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Lender's wrilten ~lc~ree.'menl or a{~pl~cable law [3urru~tit~r shall pay the arnUU+~1~C~E~il~1(0~3yE~l~~sUt~RQ~;e~i;+ui?is ~n ihe
manner piovi~ied under pa~ayrapt~ 2 hereol ~
Any amounts ~~sbuisecl by Ltniler pursuant to tf;is pa?ayraul~~ 7, with mterest therQOn. shall t~ecumt,~ aUcl~t~anal i
mdebtedness ot Honowar secured by th~s Mortgage. Unless E3ur~ower and LQnder agree to olher terms of payrnent. such F
amaunts sh~li be [~ayabie upon~~ioGce trom Lencier to Borro~ver request~nc~ payment thareof, and shali bea? ~nterest Irom th~ ~
date ot d~sbu?semem at lhe rale payaUle Irom t~me to I~me on oulslanUing pimc~pal under lhe Note unless payment ot ~
~nte?est at such rate ~vuuld be contrary to appl~cable ia~ti~, in which event suCh amounts shail beai ~nterest al lhe n~ghest rale
permiss~ble uncser apphcab~e law Nathiny conta~ned ~n U~~s ~arag~aph 7 shall requ~re Lender lo incur any expense or take
any aCt~on heieuntler.
8.~ ~nsp~Gtlon. t.enctef may makQ or eause to be made reasonabte entnes upon and ~ns~eclions ot the Property, 3
p~ov~dEd Ihat Lender shail g~ve Borrower not~ce pnor toany such ~~sG~ection specifying reasonablE cause Ihe~elor ?elate~ to ~
Lenciers ~nterest m the Property. ~
9. Condemn~tion. The proceeUs ol any award or claim tor damages. direct or consequenhal, in connect:on w~lh any
condemnaUon or other tak~ng ot the Property, or part ther~of. or lor conveyance in heu ot condemnation, here5y ass~gnetl ?
~
anU shall Ue paid ~to Lender. . E'~ ' = ' ' ' r: • . ; ~ ;
~ In Ihe event o! a totai tak~ny of the Pro~erty, the proceeds shall beapplied loMihe S~s~sc;c~~ed by lhislvlortgage.
rvith the excess. ~t any pa~d to Borro~ver. ?n the event oi a parl~al tak~ng of ihe Property untess Qorrower and lender
othenv~se agree in wnUng, there shaU be appl~ed to the sums secured by 1h~s Morlgage such prpportion o} th2 proceeds .
! as i; equal b lhat propo?t~on wh~ch the amount oi the sums s~cured, by th~s Mortgage immediatety prior to the date ot
~ tak~ng bears to the la~r market vaiue ot the Pro~.~E~rty ~mmed~ately pnor to Ihe aate ot taking, w~thlhe balance ot the proceeds
E pa~d to the Borro~ver. - - - ' ~
i II the Property ~s abandoned by Borrower, or ~f, after noUce by LenUer to Borrower that Ihe condemnor aflers to make ~
; an award or Seltle,a claim br damages. Borrower.fa~IS to•respond to Lender w~thin 30 days alter Ihe dale such notiee ~s
; ~ ma~led. lender is aulhon2ed to coilect and appty the proceeds. at Lender s opUon, e~ther to restoration or repai~ of the
s Property or Io the sums secured by tF~is Mortgage. ~ ' ;
~ Unless Lender and Borrower othenv~se agree ~n wnt~ng any such appl~calion ot proceeds to pnncipal shail not extend ;
~ or postpone the due date ot the monthty instatlments relerred to in paragra~hs 1 and 2 hereoi or change lhe amount of ~
~ such instaUments. _ . . -
~ 1 O. Borrower Not Releaaed. Extension ot the time to~ payment or moddication of amo:: aat~on ot the sums sec~red
~ by th~s Mortgage granted by Lender to any successor in intere~t ~f Borrower shall not ope~ate to retease. in any manner,
the liab~lity of the original Borrower and Borrowefs successars in interest. Lender shall not be required to commence
~ proceed~ngs aga~nst such successor or reluse to extend time tac payment or otherw~se modity amortization of the sums -
~ secured by ih~s ~~lortyage by reason of any demand made by the original Borrower and Borrowets successors ~n interest. ;
11. Forbearance by Lender Not s Walver. Any forbearance by Lender ~n exerc~s~ng any r~ght or remedy hereunder, ~
4~ or olhernrise°af(orded by applicable law. Shall not be.a w~iver oi or preclude the exerc~se ot-any such nght or remedy. ;
~ The Rrocurement of insurance or the payment of taxes or other I~ens or charges by Lender shall not be a warver ot Lender s ~
right to accelerate ihe maturity ol the ~ndebtedness secured by tnis Morlgage. - '
- 12. Remedles Cumulatlve. Ali remedies provicied in this Mortgage are distincl and c4mutative to an.y other right or ~
` remedy under this Martgage o~ atfo~ded hy law or equity, and may be exerci,ed concurrently, independentlyor successrvety. ~
~ 13. Successors and Assigns Bound; Joint and Several Ugbillty; Captions. The covenants and agreements ;
t he~em con!a~ned shall o~nd, and lhe r~ghts hereunder shall ~nure to. the r2specUve successo?s and assigns ot
- Lender and Borrowe?. sub~ecl to the prov~s~ons ot paragraph 17 hereot Ail covenants and agreements ot Borrower shali be =
~ ~oint and severa~. Tne capt~ons and head~r?gs of the paragraphs ni th~s fv{ortgage are tor coven~ence o~~y and are not to be - ;
y used to ~r~ferpret or hefine the prov~s~ons hereot. - ~
14. Notice. Except lor any not~ce reqwred under appl~cable taw to be given in anether manner, ~a) any ~ot~ce to ;
~ 8orrovrer provided tor ~n this Mo~tgage shall be given by ~ma+hng such not~ce by cerGfied mail 2~~~essed to Borro•,ver at i
the Properly Address or at such other a~dress as Borrower may des~gnate by notice to lender as prov~ded here~n. anti ~
~(b) any not~ce to Lender shall be g~ven i,y cert~t~ed ma~l. return cece~pt reques!ed, to Lender's aUdfess stated herein or to . ~
such other acldress as lender may des~gnaie by not~ce to Borrower as provided here~n. Any nolice prov~ded for in tn~s ~
~ Mortgage shatl te deemed to have been given to Borrower or Lendar wher. given ir~ the manner des~ynated herein. . ~
.15. Uniform Mort~age; Goveming Law; Severa~ility. This torm o! mortgage combi~es unifo?m covenants for ~
n,~tional u~e anU non-uni'orm c~r.enarFtS ~v~th i~ii:itcsU vanat~ons by ~unsdi~;t~on to consUtute a un~fo?m ser.u?+ty ~ns[~umenl ;
~ covennc~ rea~ property The state ~~nci tocai laws at~pt~cab!e ia this Mortc~ac~e shali be the laws nf ~he ~~nsasct~or~ ~n ;vh~ch z
tne Property ~s tocated Thc~ to~etjo~ng SentenCe shaN s~u? I~m,! the app~icab~~~ty ot f2deral law to thls m~rigage In trQ ~_~.e~~t
~
~ ~tllt df:y ~:iJ:'IS:C)fl C~ (;~:1USE' C~ 1{'iS iti'~1i:~:~ul~f' (;f if'~' ~~C)~e r'C)!llilCtS \ti'ilfl ~~~'Li~CJb~E I~itY. SUCh COi1~I~Cr c~t~~.il .~{~T al~~Er~ C;!r~C'.• -
~ (.•rU\'ISIU(1S of tn~5 1~~1~+!cs~i~~Jt' 1f1~ ! 1~:1!=':rh~Lll C~ff? tif- (,~iVE'! f:1~t?Ct Y:lil;oul ihe CUn1hCt~ng ~~rUti,S~pr~ ~i'i~I ih:~ ~!1;: i.^.f'
? ~ f0~'ISIU:js ot ihe ~:4(3ftC,~~(IE <iP.i~ :f1G +~1Ui~~ ii~C' (1E'Ci~i!eU {U (Ji? SE":~!f<1t)?f' _
~ 15. Borrower'a Copy. Berrower sha11 be tu~n~shed a contormec~ copy ot the Note and of.th~s MQrtgage at me t+T,e ~
` of execuUOn or alter recordat~on hereot ;
# 17. Transter of the Property; Assumption. It aii or any part of the Property or an interest the~e~n ~s sold or transferred s
_ oy Borro:~rer ~v~thout Lenders pr~or rir~tten consent. exclud~ng ~a) the creat~on ot a tien or Pnc~mbrance suco~d~nate to ~
; th~s Mortgage, (b) the creation oi a purchase money secur~ty ~nterest tor household appl~ances, tc) a tran~ter ~y dev~se. ;
ciescer.t or by operation ot law upon the death ~f a ~oint tenant or (d) ttie grant ot any IEasehold inte?est of three years or less
E not contaming an option to purchase. Lender may, at Lenders opt~an, dec~are all !he sums secured_by this Mortgage to be ~
_ ~mmed~ate~y due and payable. Lender shall have waived such op~ien to accelerate if prior to ihe sale or transler. L~~cter ~
f , and tne t~ers~n to whom ihe Properly ~s t~ be sold or translerred reach agreement ~n wr~t~ng thai the cred~t ot such person ~
: ~s sat~staci~ry to Lender and that thE Entesest payable on lhe sums secur~d by this Mortgage shalt ~ a~ such rale as Len~e~ ~
~ shall repuest. !1 Lender has ,va~ved the o~tion to acCelerate provided in this paragr.~ph 17, and ~f Borrowe~s sucCessor ~n
~ ~me?est has executed a ws~Iten assUmpt~en agreement accepted ~n »nt~ng by Lender. ~ender shal~ release Borrower trem aIC i'
I~ obi~gat~or~; under th~s Mortgage and !he Note. ~ ~
~ 11 ! ender exerc~ses such opt~on to accelerate. Ler.der shall ma~~ Borrower not~ce of acce?erat~on accflrdance w~tn i
~ paragra;~n 14 hereoi. Such notice shall Rrovide a pen~d oi nat less Iha130 days Irom the date the noUce is rriaiied w~th~n ~
~ wl~~ch Borro.ver m~y pay the sums dectared ~lue. II Borrower fails to pay such sums pri~r to the exp~rat~~n ot such periad ~
~ Lender may. ~~~thout further nar~c2 or dsmand on Borrower, mv9ke any remedies perm~tted dy paragraph 18 here~l. ;
( i: NON-UNIFOP.r,A COVENANTS. Boriower and Lender further covenant and agree as tollo+~s: `
18. Accelsration; Remedi~s. Except as provicied ln paragreph 17 hereof, upon Borrow~r's breach of any
covenant or agreemant of 8orrower in this Mortgage~ lneludin9 the covenants to pay when due a ny sums secur~d
. by this Mortgage, Lender prtor to accelerstion shsll metl not;~e to Csonowe~r s~ provlded In pars~nph 14 hor~of
~ x specifying: (1) the brosch; (2) the action required to cure such breach; (3) a date~ not (ess than 30 dsys from the .
? date the notice is ma:led to BOrrower, by yvhlch such breach m ust be cursd; and (4) that failur~ to cun such bnsch .
f on or before the date spacifled in the nQtico may r~sult in acceleration of tfi~ sums secu~ed by this Mo~t9sQ~,
foreclosure by judictal proce~+din~ and sale af the Property. The notice shafl Iurthfr intorm Sorrow~rot ths ri~htto
ro(nstste aneraccelerstlon and the riyht to assen in the foreclosure procesdlnq the non-exlstenc~ ot a d~fault or .
£ any other detens~ of Borrowe~ to scceferatlon snd fareclosure. If th~ bnsch ls not cund on or b~fon th~ dats ;
F sp~ciflsd in the notice~ Lender at Lend~r's optton may declare sll ot tho surns s~cur~d by ~hts Mort~s~ ta b~
~ immediat~ty due und payable without furth~r demsnd snd mey foreclose thls Mort~s9~ by judlclsi proc~ediny. t
~ Lender shaii be E~rtitled to collact In such procesdtng all expens~s of tor~closure, includin~~ but not limit~d to. - i
~ roasonsble attornay's iees, and coata oi documentary evidence, sbstracts ~nd title r~ports. . ~
~ 19. Borrowe~'s Right to Reinst8te. Notw~thstand~ng Lender s acceterat~on oi the sums secured by th~s Mortgage.
~ Borrov:er sha11 have the nght to have any proceed~ngs begun by Lender to enforce this Mortgage discont~nued at any t~me
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