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Lcnckr's writtcn agrccmcnt or applirable law. Burrow~er shall pay ~hc amount of all mortgage insu~ance prcmiums in the }
manner providcd undcr paragraph 2 hcreof.
Any amounts disbuncJ by I.en.lcr pur~uant to this pa~ag~aph 7. wi~h interest thcreon, shall bccomc addition~l
indcb~edncss of Borrov?•cr sccurcd Ay this 111ortgage. Unless Rorruw~e~ anJ l.cnikr agrce to othcr terms of paymcnt, tuch
amountc shall t~e payable upo~ no~ire fmm 1_c~der to Bor~owc~ rcyucsting paymcnt thereof, aoJ shall bear interest from the
datc of dixbiirscmcnt at the ralc ~+~yahle from timc to time on outstanding pri~ripal undcr thc Note unlecs payme~t af ~
interest at such rate would be conlrary to applicable law, i~ ~~hich event such amounts shall bear intercst at the highest rate 1
pcrmissibk u~dcr applicablc law. Nothing containcd in this parag~aph 7 shall rcquire i.ender to incur any expcnse or takc ~
any aciion hercunder. ~
8. inspectioo. I.endcr may make or causc to be made reasonable entries upon and inspcctions of the Propcny, pro~ ided ~
that Lende~ shall give Borrower notice prior to any such insp~:ction specifying rcasonable cause thercfor rclated to Lender's ~
interest in the Propcny. E
9. Condemastion. Thc proceeds of any~ aw~ard or claim for damaees, direct or rnnsequential, in cannection N•ith any t
condemnation ar other taking of the Property, or part thercof, or for conveyance in lieu of condemnation, arc hercby astigned '
and shall be paid to [.ender. ~
In thc event of a total taking of the Pmpe~t~, the proceeds shall be applied to ~he sums secured by this ~iortgage. ~
with thc excess, if any, paid to Borrower. Tn the evcnt of a partial taking of the Property, unlcss AorraHe~ and Lender ~
otherwise agree in writing. there shall be applied to the sums secured by this Martgage such proportion of the proceeds ;
as. is equal to that proportion which the amount af ~hc sumt xecured by this 1?tortgage immediatcly prior to the date of
taking bears to the fair markct valuc of the Propc~ty immediately prior to the date of taking, with the balance of thc proceeds
paid to Boroowe~.
if the Property is abandoned b~ Barro~ver, or if. after notice by I_ender to Borrower that the condemnor otfers to make
an award or settie a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
maikd, Lende~ is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
Propcrty or to the sums secured by this Mortgage.
Unless T_endet a~d Borrower otherwise agrce in N•riting, any such application of proceeds to principal shall not ertend
or postporn the due date of the monthly installments ~eferrcd to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any succeswr in interest of Borrower shal) not operate to release, in any manner.
the liability of the original Borroa~er and Borrower
s successon i~ i~tcrest. Lender shall not be required to cammence
proceedings agai~nt such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reasc~n ~f aoy demand made b~• the or:ginal Borrower and Borrower's successors in interest.
11. Forbqirance by Lende~ iVot a Nai~~er. Any forhearance by Lender in exercising any right or remedy hera~nder, or
othenvise aRorded by appticable law, shall nc~t be a waiver of or pncludt the exercise of any such right or remedy. #
'll~ procurer?xnt of i~surance or the payment of taxes ~r other licns or charges by Lender shall not be a waiver of Lender's ~
right to accelerate the mawriry of the indeb~edoess sccured b~ this Mortgage. ~
~Z. Remedies Cnmulative. All remcdies provided in this Mongage arc distinct and cumulative to any other riRht or ~
remedy under this Mortgage or afforded hy !a~v or equity, and may be exercised concurrently. independently or successi.el~.
13. 3uccessoa and Assi~us Bound: Join/ and Seretal i.iability; Captions. The covenants and agreeme~ts herein
contained shail bind, and the rights hereunder shall inure to. the respecti~-e successon and assigns of Lender and BorroW'er.
subject to the provisions of paragraph 17 hercof. All covenants and agreemenls of Borrov?er shall be joint and se~•eral.
The captions and headings of ihe paragraphc of this Mortgage are for convenience only and are not to be Used to
interpret ot dcfine the provisions hereof. ~
14. Notice. Except for any notice required under applicable law to be g~ven in another manner, (a) any notice to
Borrower provided for in this Mortgage shal) be givere by mailing such notice by certified mail addressed to Borrow~er at
the Propeny Address or at such other address as Borrower may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall he given by certified mail. return ~eceipt requested. to i_ender's address stated herein or to
such olher address as Lender may designate by ootice ta B~rmw•er as provided herein. Any notice provided for in this
' Morigage shall t~e deemed to have been given to Borrow•er or i_ender when given in thc manner designated herein.
I~ 15. Uniform Mortgage; Go~ernin~ I,aw; Se~-erab~itv. This form of mortgage combines uniform covenants for nationsl
~ i~se and non-uniform co~•e~ants with limiteJ variations by jurisdiction to constitute a uniform secarity instrument covering
f rcal properry. This riortgage shal) be governed hX the lav?• of ~he jurisdiction in which ihe Property is located_ In the
~ event that any provision or clause of this ~tortgage or the \ote conflicts ~vith applicabk law, such conflict shall not aftect
, other provisions of this 1lfortgage or the Note which can be given effect without the conflicti~g provision, and to this
~ ~nd the provisions of the 111ortgage and the \ote arc ~feclared to he severable.
16. Borro~se~'s Copv. Borrower shall be furni~hed a conformed copy of the Note and of ihis Mortgage at the time
of execution or a[ter recordation hereof.
l7. Traasfer of the Property; Aswmption. if all or am• pan of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subotdinate to
this Mortgage, (b) the crcation of a purchase money securit~ interest for household appliances. (c) a transfer b~ de~~iu. ~
• descent or by operation of IaN upon the death of a joint tenant or (d) the grant of any leasehold interest of three yean or less
not containing an option to purchase, Lender may, at Lender'c option, declare all thc sums secured by this I?lortga¢e to E+e
i~wmediately due and payable. Lender shall have waived such option to accelerate if. prior to the sate or transfer. Lender
and ihe person to whom the Property is to be solJ or transferred reach agrecment in writing that the credit of such penon
is satisfactory to Lenckr and that the interest pa~abk on the sums secured by this Mortgage shall be at such rate as Lender
shall requat. if L•ender has wai~ed the option ~o accelerate provided in this paragraph 17, and if Borrowers successor in
interest has executed a writtcn assumption agreement acceptcd in writing by Lender. Lender shall release BorroK•er from ~Il
obligations uncler this Mortgage and the Note.
If Lender esercises stkh option to acceferate, i_ender chall mail Borrow~er notice of acceleration in accc+rdance ith '
paragraph 14 hereof. Such notice ~hall provide a perioei of not less than 30 days from the date the notice is mailed v?ithin
which Borrower may pa~ thesums declared due. If Bono~er fails to pay such sums prior to the expiration af such peried.
~ Lender may, without furthe~ noti~e or dcmand ~n l3c~rrow•er. invoke an}• rcmedies permitted by paragraph 1 R hcreof.
Nox-UxtFOte~t Cove~~rrrs: Borrower and Lender further co~enant and agree as follows:
18. Acceleration; Remedia. Except as pro~•ided in paraRraph 17 hereof, upon Borrower's breach of any co~•enant or
agnement of Borro~er in this vtoN~age. including Ihe co~enants to pay Khen due any sums secured by this Mortgage, i.ender
prlor to acceleration sball mail notice fo Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) Ihe action
required fo cure such breach; (3) a date, not less than 30 da}s irom ihe date the notice is mailed to Borrower, by v+hich such '
6reach must be cnred; and (a) Ihat fallure lo cnrc s~~ch breacb on or beforc the datt speci6ed in ihe notke may result in ~
accekratioo of fhe sums secured bv this ~torlg~gt. foreclosure by judicial proceeding and salt of the Property. 'ilie notice f
shall further inform Bormwer of the right to reinstafe after accckration and the right to s~tsert in the fonclosure proceeding ~
the non-ezisttnce of a default or an~ other defense of Borrower to accelerafion aod foreclosure. If the bresch ls not cured on }
or 6efore ihe date speci6ed in the notice. I.ender al I.ender's option may dectare all of the sums ucured by Ihis ~1orlRa~e to be ~
immediately dne and pa}~abk without further demand and ma~ toreclose this Mortga~e by judicial procteding. Lender shall ~
be eatiited to collect in such proceeding all expenses of foreclosure, including. buf nof limittd to, re~sonable attorne~'s fees.
and costs oE docnmentary e~~idence, abslracLs and titte reports. ~
19. Borrowe~'s Right b Reinstate. Alo~v?ithstanding Lenckrs acceleration of the sums secured by this ~tortgrge.
Borrower shall have the tight to have any proceedings begun by t_ender to enforce this Ator~gage discontinued at an} timc
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