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Lendar's writtcn s~greemeat or spplicabb l~w. Bormwer ehall psy the amount of all mort~age iasuraace preauums in tho ~
manncr provided under pangraph 2 hereof.
Any smounts disbursed by I.ender pursuant to thit paragnph 7. with iwterest thercon. shail become additioeal !
indebtcd~ess of Borrower aecured by Ihis Mortgage. Unless 8orrowe~ and Lender agroe to ott~er ternu ot paymen~ such
amounts shall be payabk upon notice from I.cnder to Borrower requesting payment the~eof. and shall bear interat from the
date of disbursem~nt at the ratc payabk f~om time to time on outatanding pri~cipal under the Note unlas payment ot
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the hiahat rate ~
pernniasibk unde~ applicabk law. Nothing contaioed in this paragraph ~ shall roquic~e I.ender to incur any expeme or ta1~e j
any a~tion hereunder.
S. ias~ecfbs. i.ender may make or cause to be made rcaconable entries upon and inspoctions of th~ Property. pmvided
that [.ender shalt give Borrower noticc p~ior to any such inspection spccifying reasonabk cause therefor rclatod to Lender's ~
t
interest in the Property. ~
9. Coademaatba. The procceds of any award or claim for damages, diroct or consequential. in connactbn with any ~
rnndemnation or other taking of the Property. o~ part thorcof, or for conveyance in lieu of condemnation. are het~eby assigned }
and shall be paid to Lendc~. ~
in the event of a totai taking af the Property, the proeceds chall be applied to the sums securcd by this Mo~tgage. ~
with the excess, if any. paid to Borrower. In the cvent of a partial taking of the Propcrty. unless Bomower and Lender
otherwise agrce in writing, iher+e shall be applied to the sums secured by this Mortgage such propo~tion of the prooeeds q
as is equal to that proportion which the amount of the sumc secured by this Mortgage immediately Prior to the date of ;
taici~g bean to the fair maricet value of the Poopcrty immediately priar to thc date of taking, with the balance of the pmcads =
paid to Borrowcr. - ~ 3
if the Property is abandoned by Borrower, or if. after notice by i.ender to Borrower that the condemnor ofCen to make ?
an award or settk a claim for damages, Borrower fails to respond to I_ende~ within 30 days after the date such notice is
maikd, i.ender is authorined to colkct and apply the proceeds, at- Lender
s option, either to nstoration or repair of the
Property or to the sums secured by this Mortltaga ~
Unless Lende~ and Borrower othenvice agree in writing, any such application of proceeds to principal shali not extend
or postpone the due date of the monthly instailments refened to in paragraphs 1 and 2 her+eof or change tf~e amount of
such insWltneats.
10. Eorrower Not Rekascd. Extensian of the time for payment or moditication of amoniiation of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
the liability of the originai Borrower and Barrower's successors in interest. I.ender shall not bc required to commence - ~
proceedings against such sexxessor or refuse to extend time for payment or otherwise modify amottization of the sums
secured by this Mortgage by reason of any demand made by the original Bomowe~ and Borrower's succeswrs in interost. ~
l l. Forbearaoce bjr I,ender NM a Waive~. Any forbearance by i.ender in eaercising any right or remody hereunder. or
otf~e~wise attorded by applicabk law, shalt not be a waiver of or proclude the exercise of any such right or remedy. ~
'I7te procurement of insunnoe or the payment of taaes or other liens or charges by l.ender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured hy this Mortgage.
12. Remcdks Cw~elati~a All remedies provided in t6is~lortgage are distinct and cumulative to any other right or
remedy under this Mortgage or af~orded by !aw or equity, and may be eaercised concurrently, independently or successively.
13. Srccessas sad Asd~s Eoum1; ]oint aad 3everal i.iabiNly; CapBons. The covenants and agreements hercin
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender aod Borrower,
subject to the provisions of paragraph 17 hereof. All coveoants and agreements of Borrower shall be joint and several.
'il~e csptions and headings ot the paragraphs of this Morigage arr for convenience only and are 'r~~! to be used to
interpret or defi~e the pmvisions hereof.
14. Notic~. Except for any twtice required under applicable law to be given _in another manner. (a) any notice to
Borrower provided for in this Mortgage shall be given by maiiing such notice by certified mail addressed to Borrower at
~the Property Address or at such other addr+ess as Borrower may designate by notice to T.ender as provided herein, and
(b) any notice to Lender shall be given by cenified mail, return receipt requested. to I.ender's address stated herein or to
such othtr address az Lender may daignate by notice to Borrnwer as provided herein. Any notice provided for in this
Mortgage shall be doemed to have been given to Borrower ar l.ender when given in the manner designated herein.
IS. Usifor~t Morl~aae; Gorerain~ I,aw: Se~erab0ity. 'R~is form of morigage combines uniform covenants for national
ose and non-upiform covenants w~th limited variations by jurisdiction to constitute a uniform security instrument covering
real property. 'I1iis Mortgage shall be governed hy the law of the jurisdiction in which the Property is located. In the ~
event that any provision or claux of this Mortgage ar the Note conflicts with applicabk law, such conflict shall not affoct ~
other provisions of this Mortgage ar the Note which can be given effect without the conflicting provision, and to thes
end the provisio~u of the Mortgage and the Note are dcclared to be severable.
16. Dorrowu's Copy. $ornower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of eaecution or after reco~dation hereof.
17. Trsosfer of t6e Prope~ty; A.~wmptios. If all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (a) ths c~eation of a lien or encumbrance subordinate to ~
this Mortgage, (b) the creation of a purchase money security interest for hausehold appliances, (c) a transfer by deviae.
descent or by operation of law upon the deatb of a joint tenant or (d) the giant of any leasehold interat af threc years or less ~
not confaining an option to purchase. Lender may, at Lender
s option, declare all the sums sxured by this Mortgage to be ~
;mmediately due and payable. Lender shall have waived such option to acceierate if, prior to the sak or tra~sfer. Ixnder
and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to L.ender and that the interest payabk on the sums secured by ihis Mortgage shatl be at such rate as i.ender - ~
shall roq~est. If I.ender has waived the option to accelerate providod in this paragraph 17, and if Borrower's successor in
interest has executed a written atsnmption agreement accepted in writing by Lender, Lender shall release Borrower from all
obligations under this Mortgage nnd the Note.
If Lender exercise.t such option to secekrate. Lender shall mail Borrower natice of acceleration in accordance with ~
paragraph 14 hercof. Such notioe shall provide a period of not less than 30 days from the date the notice is mailed within
which Borrower may pay the sumt declared due. If Borrower fails to pay such sums prior to the expiration of wch period.
Lender may. without further notice or demanct on l3orroiver, invoke any rernedia permittecl by paragraph 18 hereof. ~
.
Not~-UrnFOR~[ CoveNerrrs. Borrower and Lender furtt~er covenant and agree u fotiows: ~
ls. Accekratio~ Raoedia. E:cept as prorWed i~ pan~rspb /7 6ereot. ~ dorruwer's breaci oE ~y co~aamt or
a~reese~t ot Eorrowet ~ tiit Matta~e. ~ tie corews~ls to pay w~ew d~e ~y s~es scesred b~r t6is Morl~e, Lader
prior to secelerdiod ~iaY ~aiil wtkY ~u Do~ower as pro~idcd i~ pua6rapti 14 rercot ~peeit~: (1) tre b+eacr; t~e sctlo~
e+e~~irea !o c~re wcr M+ac~: C~ a irte. ~ot las daw 3~ dsys E~+oe ttie dMe tre ~otict is eailed to sorrowa, bq wYitM s~i ~
brescM e~st 6e e~re$ a~ (n tldt faihre b enre swch breacl~ o~ or ~efore ttie aate s~ecliei i~ ttie ~ofk~e ~ ias~N L ~
seedera~tfo~ of lie a~ aee~n+ci ~ ttii Mor~ Eeredaa~re bf ~iebl lroce~ a~i ale o[ t6e lnoreii~. '~e ~otiee ~
shaH frrt~er bfe~ fon~o~wee et tre ri~rt b~tc afhr scederatio~ s~ tre ri~Yt b ared ~ tre fomles~re ~oce~i¦6
the ~e~ce d~ ietsrlt or ap otl~er ietesre o~ Eoero~wer to saekratior a~i foreebaue. it' tie 6resci ii ~ot cte~ei ~ ~
or beEore ttie dde s~eeliea i~ tre ~ofke, i.e~er st I.e~ier's o~tlo~ ~ declaee a9 ot tie wa~ ia~rea b~ tti4 Mo~e b be ~
i..edh~dy ~.e a.i wawe wiliert t~er ae.,.i ,ei .ay foreclo.e W. M~I~e h j~cW Noces~. Le~er ~W ;
be eatitlei to coiket Y wei Noceal~ a1 ~a d Eoreeloaue, Ydrdi~, ~t ~at 1Wtei t~. na~o~aiie aftorss~'~ tedr, '
a~i aoib at i~c~ e'~aoe. aiMtrsels wi tltle ~epeb. '
1~. 1~rwe+r's ltt~t fe Rei~tata Notwithstanding Lender's sccekration of the s~mos securcd by this Mortsa=e. ~
Borrowa ahall have tbe ri~t to have aay proaedings begun by Lendu to enforoe this Mort~age discaetiaued at aay time ~
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