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LrnJcr't written agre~mcnt c~~ appli:ablc law. Iiorr~~Nrr shall pay thc amount o( all murigabe insurancc prcmiumi in th~
n~an~~~r provid.~l undcr paragraph 2 hcrcof.
Any ~niuunlc di.hurtcd by I.endcr punuaM to this paragr:iph 7, whh intcretii thcreun, thall bcco~i~c :,dclitiona)
imi~btcdors~ uf t3ur~.~kcr s~rurcJ by thi~ :~fartg.~gc. l1nlc.~ l3o~rou•r~ anJ I.ende~ agrec to othcr tcmts of paymcnt. ~uch 1
a~u~~unts ~ha11 1k ~a}~~hlc u~.n nu~icc from 1 cndcr to l3orruw~r ~eyuc~ting paymcnt thcreof, and sh~ll h~ar imcrest tr~m thc y
d:ue of dicbuisement :~t thc ratc pa~•ahlr fmm timr to timc un o~itslanding principal undcr the Note unlect payment of
inte~est at such ratc ~~nuld he c~~ntrar~ tu applicable law, in «hich event such amounls thalt bear interest at the highe~t rate ~
permissible under applicable taw. Atii~hing containcd in this ~~aragraph 7 shal) require I.eadrr to incur any expense or take
:~ny action licreundcr. 3
8. Inspection. Lcndcr may makc or c~usc to br madr reatonahlc cn~ricc upon and inspectionc of thc Pro~rt~, pm~~i~cJ ~
~hat Lendc~ shall give Borrow•cr noticc prior to any ~uch imExction specifying rcasonabte cautc thcrcfor relatcd to I_endcr
s ~
intertst in the Proptrry. _
9. Condemnation. The pnxccdc o[ ~ny a~~ard o~ claim for damages, direet or enncequential, in connection With anr
condemnation or other taking of the Properry, or pa~t therrof, ~~r [or conveyancc in lieu of condemnati~n, are hereby assiened
anJ shall bc paid to Lcnder. ,
Jn the event of a tc+tal taking of the Property, the pra:~eds chall he applied to the cums tecured by thic \tortgage, ~
Nith thc exccss, if any, paid to Darro~~rr. In ~hc evcnt ~~f a partial taking of the Properry, unlcst Borrow•er and i.endcr
o~her~~•ice agree in a•riting. th~re shall be applied to the sums securcJ by this 111ortgage such proporUOn af the proceeds ~
as is equal to that proportion which thr amc~unt of thr sumc tec~ired by this lltortgage immediately prior tq the date of ~
t:~king hears to th~: fair markct valuc ~d thc Propcrty imnerdiately prior to !hc Jatc of taking, wi~h the balance of ihc procazds ~
paid to Borrower.
If the Aroperty is abandoned b~• Borrow~er, or if. after notice by I_cnder to Bor~oWer that the condemnor offers to make
an award or setUe a claim fo~ damages. Borrower fails tu respond to t_ender within 30 da~~s after the date such notice is
maited, Lender is authorized to callect and appfy the proceeds, at i.ender ~ option, either to r~storation oi repair of the
Proparly or to the sums iccured by thi~ Atortgage.
Unlets I_enJer and Borro~~~er otherv?-ise agree i~ ~.ritinc. a~y such application of p~c~ceeds to principal sh~ll not ertend
or postpone ~he due da~c of the monthly incta(Imc~ts referred to in paragraphs I and 2 htreof or change the amoe~ni of
such installmc~ts.
10. Bo~rowe~ Not Released. i:ttension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by i.ender to an~• succetsor in interect of Barrovrer shall not operate to release, in any manner.
the iiability of ihe originai 8orro~~cr and Ro~n~.+~r~'~ sii.c~ss~rs in intcrtsi. i_cr.~er ;ha!! nci ~ rtqssired to commence
proceeJings against s~~ch successor or refuse to ez~end time for payment or otherwise modify amortization of the sums
secured hy this I?iortgage b~• reason of any demancl made by the or6einal Qorrower and Borrow•er's successon in interest.
l l. Forbearance b~• i.ende~ 1\b~ a Naiver. Any forhearance by Lendcr in excrcising any right or remedy hcrcunder. or
otherv~ise atTorded by applicable law. shall not be a waiver of or precludA the erercise of any such right or remed~•.
The procurement of insurance or the payment of tares or other liens or charges by i_ender shall not he a K~aiver of I_eoder s
right to accelerate the maturity of the indebtedness cecured h~• thic I?lortgage.
l2. Remcdies Cumulati~e. AU remedies procided in this Mortgage arc distinct and cumolative to any other ri¢ht or
remrdy under this Mortgage or afforded hy law or equity, and may be exercised concurrently, independentl~• or succecsn•el}•. ~
13. Successors and Assi~ns Bonnd; Joint and Se~~eral i.iability; C~ptions. 'fhe coveoants and agreements herein
contained shall bind, and the riRhts hereunder shall iniirc to. the respecti~•e successors a~d assigns of Lender and Borrow-er.
subject to Ihe pro~•isionc of paragraph 17 hereof. All covenants and agrcements of Borroveer shall be joint and se~•eral.
'The captions and headings of the paragraphs of this ~fortgage are far conv~nience only and are not to be used to
interpret or de~ne t~e pro~•isions hereof. .
14. Notice. Except for any notice requir~d under applicable law tc? be given in another manner, (a) any notice to
Borrower providcd for in this ~tortga¢e shall he given by mailing such notice by certified mail addressed to Borrow•er at
Ihe Pmpcrty Address or at such o~F~er addr~ss as Borrow•cr may dcsignatc by noticc to T_cnder as Provided herein, and '
(b) any notice to Cender shal! be given by ccrteficd mail, rcti~rn receipt requested. to I.ender's adJress stated herein or to
such other address as I_ender may designate by n~~tice to Borro~cer as provided herein. Any notice pro~-ided for in this
Murtgagc shall be dcemed to ha~•c been given to Borrow•er or (_ender when givcn in thc manner designated hcrein_
l5. C~niform \toNKage; Goa•ernin~ Law; Severabilify. This form of mortgage combines unifprm covenants for national
use and non-u~iform co+r~ants u•ith Iin~iteJ variatii~ns bp jurisdiction to constitute a uniform securiry instrument ca~•erin¢
real property. This 1?tortgage shall be governrd hy the law~ of the jurisdiction in which the Property is located. In the
event ~hat any provision or clae~sc of this !lfortgage or the \otc conflicts with applicable law, such conflict shalt n~~t af~ect
other provisions of this l~fortgage or the Note w•hich can be given efiect without the conflic~ing provision, and to this
end the provision~ of the !1lortgagc and the \'ott are dcclared to be scverable.
16. Borrower•s Cop~•. Borr~wcr shall be furni~hed a conformed copy of the Note and of thit '~tortgage at the time
oF execution or after recordation hereof. •
17. Transfer of the Propert}•: Assumption. If all ~r am~ part of the Property or an interest theresn is sold or transferred
by Borrower w~ethout I~nder's preor writtcn consent. exctuding (a) the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer b~• derise.
descent or by operation of laN~ upon the death of a joint tenant or (d? the grant of any Ieasehold interest of three ~ears or ltss
not containing an option to purchase. Lender may, at Lender ~ option, declare all the sums secored by this ~fortgage to be
immediaiely due and pati-able. Lender shal! ha?~e wai.•ed such option to accelerate if, prior to the cale or tra~sfer. I_ender
and thc person to wham the Property is to be sold or transferred reach agreement in writing that the credit of such per~en
it satisfactory to I_encter and that the interest payable on the snms secured by this Murtgage shall be at such rate as Lender
shall request. (f Lender has wai~•eJ the option to acceierate provided in this paragraph i7, and if Borrow~eri success~r in
interest hac executed a w•ritten assumption agreement acce~ted in writing by Lender, Lender shall release BorroK-er from aIl
obligations undcr this Morteagc and thc Note.
if I_ender exercises such option to accelerate. Le~der shall mail Bo~rower notice of accele~ation in accordance ~~ith
paragraph ld hereof. Such notice thap provide a peri~x! uf not iess than 30 days from the date the notice is mailed ~rit7in
w'hich Borrou•er may pa}- the aums declareJ due. Jf Borro~+cr fails to pay such sums prior to the expiration of surh peri.~d.
Lender may, w•ith~ut turther notice or Jemand on Borrow•er, im•oke any remedies permitted by paragraph 13 fiereof.
No~r-UtvrFOrc~t Co~~Fx~~vTS. 8orrower and Lender further covenant and agree as follows:
l8. Acctler~tion; Remedies. Except as pro~~ided in par~graph 17 hrreof, upon Borro~rer's breach of any co~~enant or
ag~ee~nent of Borrower in this'~tortgaRe. including the cocenants to pay when due an~ sums secured b~ this !~torlgage. I.ender
prior to acceleralion shall mail notice to Borrow•er as pro~ ided in p~rag~aph 14 hereof specif~•ing: (1) the breach; (2) the action
required fo cure such breach; (3) a date. not less Ihao 30 days from the date the notice is m~ited to Borrowtr. by ~rhich such
breach muct be cored; and (4) ~hat failure to cure such breach on or before the d~te specified in the notice may result in
acceteration of the sums secufed b~• this ~iorfg~ge, foreclosore by judiciat Proceeding and sale of the Property. "Il~e notice
shall furlher inform Borrower of the ri~ht to reinslate afler acceleration and Ihe right to sissert in Ihe to~eclosu~e proceeding
1he non•existence of a default or any oll~er defence of Borrower to acceieration and torecfosure. If the brtach is not cured on
or before the dafe speeified in the notice, i,ender at I.ender's opfion may declare all of the sums secured by this :11ottRa~e to be
immediatety due and pa~able without furlher demand and may foreclost this illoriR~ge by judici~l proceeding. Lender shall
be entilled to collect in such proceeding all expenscs of foreclosure, including, but not limilcd fo, reasonable atforne}•'s fees.
aad costs of documrnlary e~idence. alntr~cls and title reports.
19. 8orrower's Itight to Reinstale. ti'otwith~tanding Lenuer s acceleration of the sums secured by this ~tortgace.
Borrow•er shall have the right to hace an~• pre~eeed~nes Fxgun by t_ender to en(orce this Morlgage discontinued at any timc
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