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1 r~nf;r', ~~riucn agRtimcnt or apph~ahic la~v. 11rrn.~~~r ahall p,~~ thc amuunt of all moAgasc i~~~utance prc~ttiums in thc '
mann~r pru~•idcJ undc~ para?~raph ? hcr~uf.
:\n> :im~unts di~hurc~~l h~• I.cndcr pur.u:~nt tu this patagr.~ph 7. a•il~ i~t~n:~t thCrcon, chall t+ccamc additianal
in.lrh~~.i~~r.c .~f li~~rrow~c~ .rrurcd M• ~hic i11~~nLacc. l'nk.: Horru~.c~ and 1 cn.kr aFrc~ to olhrr terms of paymcnt, such
am~~~~nt..hall hc ~+ayabk u~m n~Hi;c fr~m I.rndcr tu (iorr.~+~~<< rryuccling p~~•mcnt thcr~ti~t. and thall h~:a~ iotc~ect fmm the
dat~ ~~f ~li.hurscmcot at thc r:~t~ pa>•ahlc from timc t~~ limc on c?utstanding prin~ipal undcr thc Natc unlca payme~t of
intcrr.t cuch rate would F+~ contran• ta applicable la~~~. in ..~hi~h rvent ~uch amounts shall hear interest at the highect rate
{xrn~~csihle under applicable la~~•. 1\Mhing c<•nt.~in~Yl in thic paracraph 7 chall requirc I.ende~ to incur a~y expence o~ take ~
an}' artirn hcrcunder. -
8. fncpection: I.en~lcr ma~• m~ke or causc to M madr re:,~c~naMr rn~~iec u~n':?nd inspcclionc o! the Pmpe~ry, pmvickd
that L~n.ler shall gi~~e Burro«-c~ notice prior to ao~• uKh inc~x,~ction ~pecihing rcas~,nable cuuse thercfor related to I_ender's
in~crc:~ =n thr Pro{+e~t~.
9. Condemnation. 'f he pn~ceedc c+f an~• a~~~ard or claim for damagcs, direct or conceq~kntial. in connation with an)
candcmnati~in or othe~ taking of the Properly, or part the~rnf, or tor conveyanee in licu of condemnation, are herctry assigned
and chall ~ paid to I.cnder.
ln ihe cvent of a trt:?! taking of thc I'ropert~•. thc prc.:ccdc shall bc applied to the cums sccured by this I~toirtgage.
ith thr c~cccs: if any, ~+aid t~ Bc~~r.~~~•cr. ln thc c~•cm o( a partial taking of thc Pro~+erty, unlcss Bormwer a~d Lendcr
othcn~i:c agr~-e in Writine. thcrc shall he applicd to the cumc cecurcd b~~ thic Mortgag•z s~~ch proportion of the proceeds
as ic ~ai~al to that proponi~n ~~fiich thc amount of the sumc c~-~urrd b~ this ~tortgagc immcdiatel~• prior !0 1he date of
takin?~ Ftiarc ta the fair market ~•al~~ of ~he Prup~:r~~~ immediatch• prior ta the Jatt of tnking. with the balance of the proceeds
p~id t.~ Borm~ver.
If the Property is abandoned b~ Barrow•er. or if. after notice b~~ l.ender to Borrower that the condemnor offen to make
an a~~~.~-d or settle a claim for damaees, Borrow•er failc to r~spond to i_ender w•ithin 3(1 days after the date such notice is
mailed. Lcnder is sutharitcd to collect and appl~~ the prc+ceeds. at Lender's option, either to r+estoration or rcpair of the
Pm~x rtc or to the sum~ scrured b~• ~his I?tortgagc_
L'nlesc 1_ender and Borro~~~er othen+ise agree in ~+•ritine, am such application of proceeds to principal shal) not extend
or p.~~tE+onc thc due date of the monthl~ installmcnts reierr~~d ta in paragraphs 1 and 2 hereof or change the amount oE
such installments. •
10. Borrowe~ Not Released. E!~tension of the time for payment or modification oE amortization of the sums socured
b~ this ~tortgage gnnted by Lencler to any succeswr in interest of Borrower shall not operate to rckase. in any manner.
the liabilit~• of the original Borrovrer a~d Bc~rrowe~
s successorc in interest. Lender shall not be required to commenoe
proceedin¢s against such successor or rcfuse to extertd time for payment or othen?ise modify amortization of the sums
secured b~~ this Mortgage b~ mason af an~• demand made by the oregi~al Borrower and Borrower's successors in interest.
ll. Forbearance by I.ender 1\ot a Wai.er. Any fort~earance by I.ender in erercising aoy right or remody heramder, or
other~ise affordcd by applicable law, shall not be a waiver of c+r prccludC the erercise of any such right or remedy.
The pro:uremeot of insurancc or the paymcnt of taxes or other liens or charges by Lender shall not be a waiver of I.ender's
right to accelerate the maturit~ of the i~debtedne:s securrd hy thic Mortgage. .
l2. Remedtes Cnmulative. All remedies pro.~ided in this ??iortgage are distinct and cumulative to any other right or
rcmtd}- under this Mortgage or afforded by law or equity. and ma~- be. ezercised concurrentl~, independently or succtssively.
13. Suceessors and Ass~ns Boxnd; ]oint and Se~'eral i.i~biljt~; Captions. The covenants and agreemeMs htrein
containeJ shall bind, and the rights hereunder shall inure to. the rcspective successors and assigns of Lender and Bomower,
subje¢t to the provisio~s ot paragraph 17 hereoF. All covenants and agreements of BorrowYr shall be joint and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
interpret o~ define the pravisions hereof. • -
1~1. \otice. Except for any notice required under applicable law to 6e given in another manner. (a) any notict to
Borc.~ucr pro~•ided for in this ~tortgage shall be gi~~en b}• mailing such notice by certified maif addressed to Borrower at
the Pro~rt~~ Address or at such other address as Borrou•er mar designate by notice to i.ender as provided herein. and
(b) an.- notice to Lender sh~il be given by certified mail, return receipt requested, to t.ender's address atated herein or to
such other addr~ess as Lender ma}• designate by notice ta Borrower as provided herein. Any notice provided for in this
Mortgagr shall be deemed to har•e been given to Bc?rro~.er or l_ender when gi~~en in the manner designated herein.
15. Uniform MortRage: Go~ernin~ LsiK; Se.~erabiljty. This form of mortgage combina uniform covenants for national
use and non-uniform covena~ts with limited variations by jurisdiction to constitute a uniform security instrument covering
I{ rcal propert}•. This Mortgage shall be governed bv the law of the jurisdiction in which the Property is located. Tn the
~ event ihat any provision ar clause of this Mongage or the l~ofe cc~nflicts v?ith applicable law. such conflict shali not afCoct
~ other pro~ isions of this Mongage or the Note which can be gi~~en effect without the conflicting provision, and to this
~ end the pro~•isions of the Mortgage and the Note are cMclared to be severable.
E 16. Borrower's Copy. Borro~ver shall be lurnishtd a conformed copy of the Note and of this Mortgage at the time
~ of execution or after recordation herec+f.
E 17. Transter of the Propsrty: Assumption. If all or am• part of the Property or an intercst therein is sold or transferred =
by Borrou~~r witha~t Lenders prior v?rittrn consrnt, excluding (al the creation of a lien or eneumbnnce wbotdinate to
this ~t~~rtgagl. (b) the creation of a purchase mone~ security interest for household appliances. (c) a tra~nfer by devise.
desccnt or by operation of law~ upon the death of a joint tenant or (dl the grrnt of any leasehold interest of thra years or less ;
not containing an option to purchase. Lender may, at Lender'c option, declare all the sums secured by this Mortgage to be
immediatrl~ d~x and payable. Lender shall have waieed such option to accelerate if, prior to the sale or t~ansfer. I.ender
and the person to whom the Property is to be sold or transferred reach agrcement in writing that the credit of such person
is satisfa:tory to I.enJer and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
shall requrst. If Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower
s successor in
interest hac executed a written assumption agreement accepted in writing by Lender. Lender shatl release BoROwer from all ~
obligations under this Mortgage and the Note.
If Lender exercises such option to accelerate. Lender shall mail Borrov?er notice of acceleration in acrnrdance with
paracraph 14 hereof. Such notice shall provide a period of not Iess than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due_ If Borroaer fails to pay such sums prior to the eapiration of such period.
[.ender ma~•. without further notice or demand on liorrovrer, invokc any remedia permitted by paragrapfi 18 hercof.
~ \ox-Urr~FORtK Cove~.~xTS. Borrower and Lender further covenant and agrce as follows:
18. Accderatioa; Remedies. Except as pwvided in pa~trnph 1? hereof, npon Bormwa's breacb of a~y co~enant or
ag~een~ent of Botrower in this ~lortgage, including tbe co.~enants to pay when due any sums secore~ by thts 1ltort~age, Lender
prior to acceleratioa shall mail notice to Borrower as provlded in paragrnph 14 hereof specifying: (1) the brexb; (2) the action
required to cure such breach; (3) s date, not tess than 30 days from the date t6e notice is maikd to Borrower. by nhkh anch _
bre~ch must be cnred; and (4) tb~t failnre lo cure such breach on or 6efore the date speci6ed in the ootke nwy result in
acceleratioo of tbe snms secured by this MoMga~e, foreclosure by judirisl Proceedin~ and sale of the Propeet~. ?he notice F
shall furlher Inform Borrower of tbe rigbt to reinstate nf~er acce{eration and Ihe right to assert in tbe foreclos~re proceeding " ~
the non-existence of a default or any other deter~se of Borrower to ~cceleration and foreclosure. If the breach is aot eured on '
or before the date tpecified in the notice. Ledder at Ltnder's option may declue WI of the snms secured by tbis MortRage to be
immediateh- due snd payable without turther demand and mar foreFlose thts :Nortgage by judicial proceedin~. Lender shall ;
be entiUed to collect fa wch proceeding a11 e:penses of foreclosure. includi~, but not limited to, rtasoaabk sttorner's Eees. ,
and cotits of docamentary e~idence. abstroa~ and ~itk ~epo:ts. ;
19. &~nowe~'s Right to Reiastale. Nota~ithstanding Len~kr's acceleration of the sums secured by this Mortgage. s
~orr.~wer shall have the right to have any prc~cecdii~g~ hegun b~ l.ender to eoforce this Mertgage discontinued at any time }
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