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• l.ender's wrilten agreemen~ or applicsbk law. Borrower shall pay the unount ot all mortgage insurar~ce premiums in tl~e
manncr providcci under paragraph 2 hereof.
Any amounts disburxd by I.e~ck~ pursuant to th~ parag~aph 7, with interat Ihercon, shall become additional
indcbtedncss of Borrowc~ secur~d by this Mortgage. Untecs Borrower and Lenckr agroe to other ternu ot payment. such
amou~ts shall be payabk upoo r?olice f~om I.codcr to Borrower pequqting payment thcreof, a~d shall bear interest from the
date of disburstment at the rate payahk t~am time to time on outstandi~g principal uode~ the Note unless psyn~ent of
interest at such rate would be contrary to applicable law, in which event such amounts shall bea~ interest at the highest nte
permissibk under applicabk law. NMhing cantait?eJ in this paragraph 7 shalt roquirc l.ende~ to incur any expense or ta1[e
any actioo hereundcr. .
a. iaspeet{o~, l.tnckr may make or cause to be madr reaxonabk o~triec «on ~pd inspections of the F'roperiy, provided
that l.ender shall give Bc~rrower ncwi~~e prior to any s~~ch inspection specifying rcasonsbk cause therefor retated to L,tnders
interest io the Propeny.
9. Cademaatba. The proceedc nf any award or claim for damages, dirce~ or conuquential, in conneetion with any
condemoation or ather taking of the Property, or pari thercciF, ar for conveyance in lieu of condemnatio~, are hereby assigr~od
and shall be paid to I.ender.
Tn the eveot af a tot~l taking of the Propeny. the pror~ecls chaR he applied to the sums secured by this Mortgage,
with the excess, if any, paid to Borrower. tn Ihc cvent of a partia) taking of the Property. unkss Borrower and Lende~
othenvise agree in writing. thcre shall be applied to Ihc cums securrd by thic Mongage such proportioo of the proce~s
as is equal to that praponion which thc amounl o( thc sumc u~ured by this Mortgage immediately prior to the date of
taking bears to'the fair maricet value of the Pn~E?erty immediately prior to ihe Jate of taking, with the balance of the proceeds
paid to Borrower.
if the Propeny is abando~ed by Bormwer. or if, after ~rnice bp I.ender to Borrower that the condemnor otiers to make
an award or settle a claim [or dam~GC~, Barrower fait. to rc~pond to I.ender within 30 days aft~r the daie such notice is
mailed, l.en~ler ic autharized to collr:,t and apply thc procecds, at I.tnder's option, either ta ~estoration or rtpair of the
Property or t~ the sums secured by this Mortgage.
Unkss Lender and Borrower otherwi~ agree in wrihnc. any such application of proceeds to pri~eipal shall not extend
or postpc~ne the due date of the monthlv installments referred to in pa~agraphc 1 and 2 hereof or change 1he amount of
such instaltments.
lA. Eorrower Not Release~d. Extencion of the tim~ for payment o~ modification of amortization of the sums secured
by ihis Mortgagc granted by l.endcr to any ~urcccuir in imcrcd of $orrower shall not ope~ate to reiease. in any manner,
the liabiliry of the original Bonower and &.rrower t succrsG~rc in intercst. !_ender shall not he required to rnmmence
proceedings ag~inst such sz~ecessor or refu~e to e~ctend time for payment or otherv?•ise modify amortization of thr wms
secured hy this Mortgage hy reason of am• dema~d made by the orieinal Bormwer and Borrower's succesu~rs in interect.
11. Forbeuance by Leeder Not a Wai~•er. .4m• G~rhearancc by I.ender in exercising any right or remedy hereunder, or
othenvise afforded by applicahte law, shall ~~t t+c a waivcr of or ~recle~de ~he erercise of any such right or remedy_
The procierement of insurance or Ihe payment of tarct or ather liens or cha~get by l.ender shall not he a waiver of t.ender s
right to accelerate the maturiry of the indebtednecc secured hy this Mortgage.
12. Remedies Cnmulati~e. All remedies provided in this Mortgage are distinct and cu~n~dative to any other right ar
remedy under Ihis Mortgage or aftordcd hy law or equity, and may he exercised concurrenUy, independently or succescively.
' 13. Saccessors ~d A~us Bound: Joint and Several I.wb~'lity; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender :?pd Borrower,
subject to the provisionc of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several.
Tl~e captions and headingc of the paragraphc of thic Mortgage are for convenieace only and are not to be u~ed to
interpret or define thc provisians hereo~. .
ld. Notice. Except for any notice rcyuired under applicable law to be given in anotF?er manner, fa) any notice to
Borrower provided for in this Mortgace shall be given hy mailing such rtotice by certified mail addressed to Borrower at
the Property AJdrect or at such uthcr ~ddrec. as &~rr~wer may designate by notice to l.ender as provided herein, and
(h) any notice to Lender shall tx: givcn M• certified mail. retum receipt requested, lo i.ender s address stated herein ur to
cuch other address as Lender may de~ignate b~• n~.tire to Bormwer as provided herein. Any notice pmvided for in this
Mortgage shall be deemed ta ha.~c t+ccn gi~~cn to B~rr~w•er c?r l.ender when given in the manner designated herein.
15. Uniforrr~ MortRa~r, Govemin~ I.aw~; Se.~erabilih•. Thic form of mortgage combines uniform covenants for national
use and non-uniform co~•enantc W ith limited ~•ariations h~~ juriadiction to constitute a uniform security instrument covering
real property. Thic Mortgage shall he gaverned h~• the law• of the jurisdiction in which the Property is located. M the
event that any provision or clau~e of thic Mortgaee ~r the Note conflictc with applicable law, such conflict shall not affeet
other provisions of this Mortgage or the N~,tr which can t?e given effect without the conflicting provision, and to this
end the provisions of thc Mortgagc and the '~totc arc derlared to be severable.
' 16. Borrowe~s Copy. Borrower shall hr furni~heJ a conformed copy of thc Note and of this Mortgage at the time
of execution or aftec recordation hereof_
17. Transftr of the PropeMv: 4scumption. If all or an}~ part of the Property or an interest therein i~ sold or transferred
by Borrow~er without I.ende~ s prior wriurn consent. excluding (al the creation of a lien or encum'brance suborJinate to
this Mortgage. (h? the creation of a purchacc m~me~• tiecurity interest for household applianees, /e) a transfer hy devise,
descent or hy operation of law• upon the dcath of a j~•,m tenant or /d) the grant of any leasehold interest of thrcc }•ca~s o~ less
not containing an option to purchase. [.ender may, at t.ender'a option. declare all the sums ucured by this Mortgage to t+e
immediately due and payable. [.cnder thall ha~~e ~ ai.•ed such option to accelerate if, prior to the tale or transfer. I.enckr
and the person to whom the Property i~ ta be :ol~l or transferrcd reach agreement in writing that the credil of ~uch perton
is satisfactory to Lender and that the interrtit pa~~abte on the sums secured by this Mortgage shall be at such rate as [.ender
shall request. if Lender has waived the option to accelerate provided in Ihis paragraph 17, and if Borrower ~ suceessor in
interest has executed a w~itten assump~ion agreement accepted in writing by I.ender. Lender shall release Borrower from al!
obligations under this Mortgage and the Note.
If Lender exercises such option to accelerate. I.ender ~hall mail Borrower notice of acceleration in accordanc< ~~h
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is maiied w•ithin
which Borrower rrtay pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of cuch peri~xl.
Lender may, without further notice or dcmand on F3arrower, invoke any rcmedies permitted by paragraph I R hercof.
NoN-UxtFORM Covex~Nrs. Borrower and 1_ender further covenant and agrce as follows:
18. Accekration; Rcmedks. E:rept as pmvided in para~nph 1~ hertof, opoa Borrower's breac6 of aay coreasut or
agreemtnt of Borrower in t6is Mortgage, includin~ tHe corensnts to pay when dut aey soms secercd by this Morl~a~e. i.endcr
prior to aceNerstbn sliall mail notlce to Borrorrer as pro•ided ln pars~rapl~ 14 hereot apecif}~: (1) the breach:l2) tbe sction
reqnired to cure soch bresch; (3) s date. not less than 30 days from ttre date tbe notke is aailed to Eorrower. by which sucb
bnaeb mmt be cared; aod (4) Ihat fdlure to cure wch breach on or 6efore tbe date specMed in the notke msy resWt in
acederatioo of t6e somt secund by this Moet~agr. to~ecbwn by judicial proceediu= snd sak of the Pmperty. 71~e nolice
sb~! furtbe~ infona Eorrower of the ri~ht to reinstate after accckration and tl~e right to ~e~t ia tbe forrclosnre procetdina
the aontxistence of a defauM or any Mher detense of Borro~+er to accekation and fonetosure. /f the breach is aot cortd on -
or before the date specified ie the aotice. Lender at t.ender's optjon may declare sfl of tbe w~ secored by tbts Mort~a~e to be
ima~edlateiy dne and payabk withent furlber dem•rnd ~nd may toreclose this Mo~aRe by jndicW proceedin~. Lender chaJl
be tntitkd to collect in wch proceedi~ atl expenses of foreclosnrr, iaclndiu=, bnt not datite~ to. reasonable att~~rnrv's fea.
snd cosfs of docomeotary e~ideoce. abstrscts and Iitk nports.
19. lbrnower's Ri`ht to Reiaatste. Notwith~tand~ng I.ender s acceleration of the sums securcd by th~s M~rtgage,
Borrower shal) have the reght to have any procecd~ng~ hcgun ~y I.ender to enforce this Moregage discontinued at an~ time
E~~K 29~ ~~E 743
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