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i.cndcr's writteo agoccmrnt o~ appli~ahle law. Barrow•er shall pay the amount of all mortg~ge insurancc prcmium: in thc
manna~ provide~! under parag~aph 2 hereot.
Aoy amwmts disbursed by l.e~der pursuant to this pa~ag~aph 7, with intecest thereon, sh~ll bccome additianal
inilebtedness ot Bor~ow•er secured by this Mortgage. Unle:c Borro~~•er anJ I.enJe~ agn.~ to olhrr trrms ot payment, such
amo~mt. shall be psyable u~n natice f~om I.cnder tc+ Sorro?+~cr rcyuecting payment therecsf, aod shall bear interest from the ,
datc af dicbursement at the rate payable fram time ta time on autstanding principal under the Note unless payment of
interest at such rate would be cont~ary ta applicable la~~r. in w~hich eveot such amou~ts sha11 txar int~rest at the highest ~ate
permissible under applicabk law. Nothing contained in this paragraph 7 shall require I.endcr to incur any expense or take
any actio~ hereureder. ~ ~
8. Inspection. Lenck~ may make or cause to he madc ~eawnable entries upon a~d inspectiom of the Prop~rty, provided :
that l.ender shall gi~~e Bonower notire prior to any such inspecti~n specifying rcasona6le cause therefor retated to Lender's i
intetest in the Property. ~
9. Condem~wtion. The procerds of any award ar claim for damages. dircct or consequential, i~ co~nection with any
condemnation or other taking of the Property, or part therrnf, or for conveyance in lieu of condemnation. are hereby assigned
and shall be paid to Lender. ~
in ~he event of a total taking of the Property, the proceeJs shall be appliecl to the cums secured by ~his Mortgage, ;
K•itb the crcess, it any, ~aed to Borrower. In thc event of a psrtial taking of the Property, unless Borrower and Lender
othervrise ag~ee in writing, therc shall be applied to the ~ums secured by this Mortgage suc:fi pmportion of the proceeds `
as is equal to that p~opottion which thc amount of the sums securcd by this htortga~re immediately prior to the date of
taking bean to the fair market value of thc Propcrt~• immediately prior to the date of laking, with the balancc of the proceeds
paid to 8orr~nwer. ~
If the PwDerty is abandooed by Borrower, or if, after notice by Lender to Borrower that the condemnor ofien to make '
an award or uttle a claim far damages, Borr~wer fails to respond to Londer witAin 30 days after the date such notice is
maikd, Lender is authorized to coltect and apply the proceeds, at I.ender's option, either to restoration or repair of the
Propeny or to the sums securcd by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shal! not exteod
or postpone the due date of ti~e monthly irtstallments referred to in paragraphs 1 and 2 hercof or change t~e :mount of
such instaltments.
l0. Bonower Not Released. Extensian of the time for payment or mc+di}ication of amortizatio~ of the sums secured ~
by this Mortgage granted by i~ncler ta any successor in interest of Bc~rrowe~ shall not aperate to rclease, in any manner, ~
the liability of the original Borrower and Borrowe~
s surcessors in interest. Lertder shall ~ot be required to commence
proceedings agait?st such successor or refuse ta extend time for payrne~t or otherwise modify amonization of the sums
secure~! by this Mortgage by reason of any demand made by the original Borrower and Bc+rcower's a~ccesson in interest.
ll. Forbeannce by I.ender l~ot a Wairet. Any forbearance by Lender in exercising any right or remedy hercunder, or
othenvise afforded by applicable law, shall not be a waiver of or preciud! the exercise of any se~ch right or remedy.
?he procurcment of insurance or the payment af taxes or other liens or charges by Lende~ shall not be a waiver of L.ender's
right to accelerote tht maturity of the indebtedness secured hy this Mortgage.
l2. Remedies Cumulsti~e. All remedies provided in this I?fortgage are distinct and cumulative to aoy other right or
remedy under ihis Mongage or afforded by law or equity, and ma~ be exercised concurrently, indtper~dtntly or succtssively. ~
I3. Secc~s aad A~as Bound; Joi~t and Se~eral i.iability; Capttons. The covenants and agreements herein
contained shall bind, and the riRhts hereunder shall inurc to. the respective successors and assigns of Lender and Borrnwer.
subject to the provisions of paragraph 17 hercof. All covenaots and agreements of 8orrower shatl be joint and sevtrai. •
'Ttie captions and headings of the paragraphs of t6is Mortgage are for conveniec~ce only and arc not to be used to
interpret or define the provisions hereof. •
~4. Notke. Exccpt for any notice rtquired undrr applicable law to be given in aoother manner. (a) any notice to
Borrower provided for in this Mortgage shall be given b~ mailing such notice by certified mail addressed to Bomower at ~
the Property Address or at such other address as Borrower may designate by notice to i.ender as provided herein. and f
(b) any notice to Lrnder shall be given by certif~ed mail. return receipt requated. to i.ender's address stated herein or to
such other address as Lender may designate by not~ce to Borrower as provided hercin. Any not~ce provided for in this
Mortgage shall be deemed to have been given to Borrower or iender w•hen given in the manner dtsig~ated herein.
15. Uniform Mort~ase: Go~erain~ Lav?; Severab~'litr. This form of mortgage combines uaiform covenants for national
use and non-uniForm covenants with limited variations hy jurisdiction to constitute a uniform socurity instrument covering
~eal property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the ,
event that any pmvision or clause of this Mortgage or the Note conflicts with applicabk law. such conflict shaii not affect =
other provisions of this Mortgage or the Note which can be given effcct without tha conflicting pmvision, and to this
end the provisions oi the Mortgage and the Notc are declared to be severable. . -
16. Borrower's Copv. _Borrower shall be furnished a conformed copy of the Note and of this Morigage at the time
of execution or after rrcordatiort hereof.
17. Tnu~sfer of t6e Property; Aswmplion. if all or any part of the Pr+nperty or an interest thenin is sold or transferred
by Borrower withoat ~Leader's prior written consent, etcluding (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 by deviu.
descent or by operation of law upcm the death of a joint tenant or (d1 the grant of any leasehoid interat of three years or less
not containing an option to purchase, Lender may, at Lender
s option, declarc all the sums secured by this 1Nortgage to be
immediately due and payable. I.ender shap have waived such option to accelerate if, prior to the sale or transfer, i.enckr ~
and the person to whom the Property is to be so1J or transferred reach agreement in writing that the credit of such person
is satisfactory to [.enckr and that the interest payable on the sums securcd by t6is Mortgage shall be at such rate as Lender t
shall rcquast. if Lender hu waived the option to accelerate pmvided iR this paragraph 17, and if Borrower's successor in
interest has exauted a written assumption agreement accepted in writing by Lender. I.ender shall release Borrower from all
obligations under this Mortgage and the Note.
If Lender exercises such option to accelerate, Lender shall mail Borrower notioe of acceleration in accordance with
paragraph 14 hereof. Sucfi notice shall pravide a period of not less than 30 days from the date the notice is mailed within
w•hich Borrower may pay ihe sums decfared due. If Borrov?•er fails to pay such sums prior to the expirat+c+n of such period,
I.ender may, without further notice or cfemand on l3orrc~wer, invake any remedies permitted by paragraph 18 hereof.
Nox-U[vtFORn~t CoveKaHTS. Borrower and Lencier further covenant and agrce u follows:
18. Acreleration; Remedks, Ezcept as pm~ided is paragrap6 17 hereof, upo~ Borrower'a breach of aoy covenant or
agreement of Borrower in tbis Mortgase, Includin~; the coYenants to pay when dae say sums secnred by this Mortgaqe, I.ender '
r
prior to acceieration shall mail aofice to Borrower as provided in paragrsph 14 6ereof specifytag: (1) tbe breacb; (2) tbe action }
requirtd to cure sncb breach; s date. not las than 30 days from tl~e dale tbe uotice fs owiled to Bonower. by rrhkh suc6
breach must be cond; aad (4) thst f~ilure to cure such bnacb on or befor+e the date speciB~ ia the aotice map mnlt ia
accelerat~on of the wms secnred by ihis Mortgage. foreclowre by judkial proceedin~ and sAle of tbe Property. 1be notice
shall further inform Borrower of the ri~ht tp reinstate afte~ nccelcration and the rfgbt to sisse~rt ia the tom~osnre proceedint
the non-exklence of a default or any other defe~e of Bonower to ~ecceleratio~ and foreclosun. !f tbe breach is not eured on
or 6efore the date specii+e~ lo tbe aotice. Lendtr't I.endels option may dcclare aN of tbe sums secured by this ltortgage to be
immedjately dae and psyabk nithout furtber dcw~and and may foreclosc tbis MorlLage by judicisl proceedin~. LlDdK Sha{I
be entiNed to colleet ia sacb proeeedir~ all expeoxs ot foreclowrc. including. but not limited to, reasonable attorneJ~s fees.
and costs oE documenhry erfdeace, a6straces aad titk reports.
19. Borso~rer'i R~bt to Rejnstate. Notwithstanding Lender s accekration of the sums sacurcd by this Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to eoforce this Mortgage discontinucd at any Gme
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