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l.e~der's writtcn agreement or applicabk law. 6omowet shti~ p~y ~he amount of a)1 mortgage insurance prcmiums irt the
manncr p~ovided u~xlcr psragraph 2 hereof.
Any amounts disburscd by I.enckr puRUant to this paragraph 7, with interest thereoo, shali bccome additiona)
indebtedneu of Borruwcr securcd by Ihis Martgagc. Unless Borrawer and I.enJer agtee to other tenns of payment. such
amounts shatl he payabk upan notice from t_ende~ ta Bor~awrr requesting paymeot thercof, and sAatl bear interest ft+art the
date ot disbursement at ~he ratc payabk from time to time cm outata~ding principal undsr the Note unless payment ot
ioterest at such rate would be contrary to applicable law, in which event such amounts shall be~I iqte~+est at the highest rate
permiasibk under applicabk law. Nothing cantained in lhic paragraph 7 shall tequitt I.ender to incur any espense or take
any action hereunder. ~
s. lsspeetbw. 1_ender may make nr cause to I+e made rcasonabk eMr'ies upon and inspections of the Property. provided
that l.ende~ shall give Bonowe~ noti~e pri~~r to any si~ch inspectian specifying reasonabk cause there(or related to Lende~'s
interest in tht Properly.
9• Coade~umlion. The proceed~ of any award o~ claim for damages, direct or co~sequerttial, in rnnnection with any
condemnation or dher taking ~f the Property, c?r part tl~ereof, or tor conveyance in lieu of condemnation. are hereby assigned
and shall be paid ta [.ende~.
1~ the event of a total ~aking of the Pmperly, the prcxeeds chail lx applied to ~he sums secured by this Mortgage,
with the excecs, i( any, paid to Borrower. In thc evcnt of a partial taking of the Property, ankss Borrower and Lender
o~herwix agree in wriling. Ihere shall be applied to the sums secured by this Mortgage such proportion of the proc~ds
as is equal to that proporlion w•hich 1he am~ninl of ~he sum~ secured by this MortgaRe immediately prior to thc date of
taking bears ta the fair market valiie of the Propr.rty immediately~prior ta the Jate of taking, with the bala~ce of the proc~eds
paid to Borrower.
if the Property is a1?andoned by Borrower, or if. after nci~ice by l.ender to Bormwer that the condemnor often to malce
an award or setNe a claim for dama~~es, Bnrrower fails t~ res~~nd M I.ender within 30 days after the date such r?c~tice is
mailed, Lernle~ ic authorized to collect and apply the proceeds, at i.ender's op~ion. either to restoration or repair of the
Property or to the sums secured h~• this Mortga~e.
Unlesz l.ender and Borrower othetwize agree in wriUne. any such application of procetds to principal shall not extend
or postpone the due date of the monlhly inctallments referrcd ~o in paragraphs 1 and 2 hereof or change the amount of
such ins;allmentc.
l0. Borrower•Not Rekzsed. Extension of the dme for payment or modification of amortization of the sums securcd
by this Martgage granted by i.encier to any c~~ccecsor in intere~t af Borrower ~hall not operate ta release, in any mann~r.
the liability of the original Bonower and Borrower ~ succesu~r~ in interest. l.enckr ~hall not be reyuired to commence
proceedings against such successor or rcfuce to ertend time far payment or othersvise modify amortization of thr ~ums
secured by this Mortgage by rcason af an) demand made b~ the ori.qinal Bormwer and Borrower s succetsors in interett.
• 11. Forbearance by I.ender Not a Wai~•er. An~~ forhearanre by I.cnde~ in erercising any right or remedy hereunder. or
otherwise aHorded by applicable law. shall not he a waiver of or preclude the exereise of any such right or rcrnedy.
'I~he procurement of insurance or the payment of taxes or other liens or charges by I.ender shall not be a waiver of l.ender's
right to accelerate the maturity of the indehtedness ~erured h}~ thic Morigage. •
12. Remedies Cnmulati~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortg~ge or affordeJ hy law or equily, anJ may Ix exercised concurrently, independently or siiccessively.
~ 13• Suceessors aad Assigos Bonncl; Jant and Sereral I.iability; Captbas. The covenants and agreements herein
contained shall bind, and the riRhts henunder shall enure to. the rcspective succe~.sors and assigns of i.ender and Borrower.
subject to the provisionc of paragraph 17 hereof. All covenants and agreements of Borro~•e~ shall be joi~} and several.
'I~e captions and headings of the paragraphc c?f thic Mortgage are for convenience anly and ar~e not ta he aced to
intcrpret or deSne the provisions hereot.
14. Notict. Except for any notice rcyuired uneler applicable law to be giveo in another manner, fa) any notice to
Borrower pmvided for in this Mortgaee ~hall he given hy mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other addrece as Borrow•er mav designate by notire to l.ender as provided herein, and
lb) any nolice to Lender shall he gi~rn hy certified mail. return receipt requested. to I.enders address stated herein or to
such other address as Lender ma~• dc~ienate b}• n~tice t~~ Borrower as provided herei~. Any notice provided for in this
Mortgage shal) be deemed to havc heen F~~~cn to Bc?rrowcr or t_ender when given in the manner designated herein.
I5. Unifo~n MoriRa~e: Covernin~ I.aw: Se~•er~bilif~•. This form of mortgage combines ~miform covenants for nationai
use and non-uniform covenante with limitcd variations h~~ jurisdictian to constitute a unifortn security instrument covering
reai property. This Mortgage shall be governed h~• the law• of the jurisdiction in which the Propeny is located. In the
event that any provision or clau~e of thic Mortgace or the Note rnnflicts with applicabte law, such conflict shall not affect
ather pro~jsions oF this Mortgage or the N~~tc wh~ch can be given effect withoot Ihe conflicting provision, and to this
end the provisions of ~he Mortgage and thc Note arc .krlared to be severable.
16. Borrowe~'s Copy. Borrower shall t?c furnichcd ~ conformed copy of thc Note and of this MortRage at the time
of oxecution or a(ter recordation bereof.
17. Traasfer of tbe Property: Acsumption. If all or any part of the Propeny or an interest therein is sold or transferred
by Borrower witho~t Lender's prior writ~cn consent. e~cluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchak: moner ~ecurity interest for household appliances, (c) a transfer hy devise.
descent or by ope~ation of law• upon the ~cath of a joint tenant or (d? the grant of any leasehold "enteresi of ~hrec years or lecs
not containi~g an oplion to purchase, Lender may, at 1_ender's option, declare all the sums secured by this Mortgage to be
immediately due and payable. I_ender shall have w;,ived such option to accelerate if, prior to the sale or transfe~. I.ender
and the person ~o whom the Property ic to be :ol.l or transferrcd reach agreement in writing t6at the credit of such person
is satisfactory to Lender and that the intere~t pay-able on the si~mc secured by ihis Mortgage shall be at such rale ac I.ender
shall request. If I.ender has waived ~he option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest has executed a written assumption agreement accepted in writing by I.ender. I.ender shall release Borrower from all
obligations under this Mortgage and the Note.
If Lender exercixs such option to accelerate. I.ender chall mail Sorrower notice of acceltration in accordancr ~~h
paragraph 14 hereof. Such notice shall provide a period of no1 less than 30 days from the date the notice is mailed within
which Borr~wer may pay the sums declared due. It Borrower fails to pay such sums prior to tht expiration of ~uch pen~~d.
Lender may, without further notice or dcmand on f3orrower. invoke any remediu permitted by paragraPh IR hercof.
Now-UxtFORtit CoveNenrs. Borrower and l.ender further covcnant and agree u follows:
18. Accekratae; Remedks. B:cep as providcd in paraRraph 17 i~ereof. upoo Eorrower's brrach of any coreaant or
agreemeot of Borrower io t6~s MortgaRe, iacludinR tbe co~ensnis to pay whea due any snms secnrcd by thts MortRage. Lender
prior to scederatba sball mafl notke to Dorrower as prorldcd la psraaraph 14 hereof speeK}~: (1) the brc~ch: (21 the sctan
reqnired to care sucb breach; (3) a date. aot kss tAan 30 days from the date tbe aotice Lt maikd to aorrower. by whicA sucr
breacb a~mt be cored; a~d (1) that failure to cnre such breach on or before tbe date speci8ed ia the notice may re~suN in
accderation of tl~e snata secured 6y thtg Mo~iRa~t. toreciosurr by judki~ proce~dln~ aad sak of tbe Propertr. The nMice
si~all fortber inform Eorrower oi tbe riabt to relnstste dtcr sccekration aad tbe risbt to aseert in tbe fereclosure pmceedin6
the aoe-e:istence ot s defsnlt or aay dher defense of Borrowe~ to accekratioe and foreclasure. If fhe breach is oot cnred oa
or btfore the date speci6ed ia t4e aotice. I.ender ~I t.cnder's option ~nay aecyre aq of tf~e s~n~s se~.red by e~s Mory~s~e b be
immedistely due and psyaWe witl~oot turtber demand and may foreclose thk Mortaa~t br jndkitl proceediu~. I,ender chall
be eetitkd to cotlect in s~cb proeeedisa sN expenscs nF toreclosure. includiu=. but oot Up~itea to. reasonabk att~,rnev's fees.
and costs of docn~otatary erWeuce, absiracls ~nd litk reports. - -
19. Eorrowe~'s Ri~ht to Reiastate. Notw•ithstanding t.ender's acceleration of the sums secured by th~s Mortgage.
Borrower shall have the right to have any proceedinF~ he~a?n hy 1.ender to enforce this Mortgage discontinued at any time
oLU!(
~ 292 YA~E 725
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