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l.ender's written agr+ament or applicabk law. Botrowe~ ~hall pay the amount ot al! mongage insurance prcmiums in the
manncr p~~vided unde~ ps~ag~aph 2 heroof.
Any amounls disbursed by I.emie~ pursuant to Iha paraanph 7, wilh inteitst therooo, shall become additio~al
indcbted~ess of Rorrowcr secured by this Mongaat. Unless Ba~rower ind l.endcr agooe to othe~ temns ot payment. such
amounts shall be payable upan nnlicc from I.ender to Bon~owe~ rcques;ing payment the~eot, and shall bea~ inte~e.st from the
date of disbursement at the rate payabk frc~m time to time on oul:taoding principal unde~ the Note u~less payma~t of
interest at such nte would be contrary ta applicable law, in which event such amounts shall bear ioterest at the Aiah~st nte
permissibk unde~ applicabk Iaw. Nothing canlaintd in this paragnph 7 shall require I.ender to incur any espe~ae or talce
any action hereunder. .
8. lospeetbs. I.ender may make or cause lo be made reasonabk entries upon and inspections of the Property. providod
. that l.ende~ `hall give BoROwer notice priur ta any such inspectian specifyiog rcasa~abk cause therefor ~elatod to i~der's
interestio Ihe Property.
9. C mwfba. The prc~ceedc of any award o~ claim for damages, diroct or consequential, in connoction with any
condemnati~ar othe~ taking of the Property, or pa~t therrnf, or for ccx~veyance in lieu of condemnation. arc hereby assigned
and shall bc paid to Cender.
in the event of a total taking of the Propehy, ti~e prcxeeds chall be appli~d to the snms xcurcd by ~his Mortgage,
with the excess, if Aoy, paid to Borrower. In thc eve~t of a partial taking of the Property, unless Bomowe~ and I.ender
othenerise agrce in writing, therc shall be applied M the sums secured by thic Mongage such proportion of the procoods
as is equal to that proportion w~hich ~hc amaunt of thc sumc secured by this Mortgage immediately prior to the date of
takiog bears to the fair market value of Ihe Pmpcny immediately prio~ to the date af taking, with the balance of the proceeds
paid to Borrower.
if the Property is af?andoneJ by Borrower. or if. after natice by l.ender to Bormwer that the condemnor otfen to malce
an award or utde a claim for damag~,-~. Borre~wer fail~ ta respond ro!_ender within 30 days aRer the date such notice is
mailed: Lender ic authorizrd to collect and apply the prcueeds, at i.ender's oplian, either to restoration ar repair of the
Prcpeny or to the sums cecured hy Ihis M~rtga~te.
Unlesc l.ender and Borrower olhenvice agree in writing, any xuch application of proceeds to principal shal) not extend
or postpone the due date of the monthly installmcnts rcferred ta in paragraphs 1 and 2 heteof or changc the amount of
such installments.
10. Borrower Not Released. Eix~ensian of ~he time for payment or modification of amortization of the sums securcd
by this Mortgage granted by I.ender to any circcecsc~r in interect of Borrower shall not operate to release, in any manner.
the liability of the original Borrower and &~rrower e soccescor~ in interest. i.ender shal) not be required to commene:e
proceedings against such successor or refuse to eYtend time for payment or otherwise mndify amortization of ~hr ~ums
serured by thic Mortgage by reason oi :iny demand made b~• the orittinal Bormwer and Borrower s succescors in imerect.
I1. Forlxarance by I.ender Not a Waiver. An~• f~nc~aranrc by l.ender in exercising aoy right or remedy hereoncier, or
athervvise aBordecf hy applicable law. xhall no1 he a waiver of or prcclude the exercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by I_ender shall not be a waiver of Lender's
right to accelerate the maturity of the indeh~edneu cecured hy thic Mortgage.
12. Remedies Cnmulath~t. All remeclies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or affardcd hy law or equity, and may be exercised concurrrntly. independently or s«cceaively.
' 13. Snccessors and As~ns ~und: Joiet and Several I.~abiiify; Csptions. The covenants and agrcements herein
contained shall bind, and the rights hereunder shall inure to. the respective successori and assigns of I_ender aod Borrower.
subject to the provisions of pa~agraph 17 hereof. All covenants and agrtements of Borrower shall be joiry and several.
The captions and headings of the paragraphc of this Mongage are for convenieace only and are not to be used to
interpret or define the provisionc hereof.
14. Notice. Except for any ne~~ice required under applicable iaw to be given in another manner. (a) any notice to
Borrower provided for in this Mortga¢e chall be given by mailing such noti~--e by -certified mai) addressed to Borrowtr at
the Propehy Address or at such ~~thcr address as Borrower may designate by norice to i.ender as provided herein, and
{h) any notice to Lencier shall he given by certi6eJ mail. retum receipt reqiiested.'to I.ender s addr~ss stated herein or to
such other address as Lender may decignate hy n~tice to Bormwer as provided herein. Any notice pmvided for in this
Mortgage shall be deemed to havc l~ccn givcn to Borrower ar Lender when given in the manner designated herein_
IS. Uniform MortRa~e; Govemin~ Iaw; Sererabililr. This form of mortgage combina uniform covenants for nationa!
' use and non-unitorm rnvenantc with limited variations hy jurisdiction to constitute a uniform security instrument covering
! real property. This Mortgage shall t~e goveroed hy the law of the jurisdiction in which the Property is Iocated. In the
i event tha~ any provision or clau~e of Ihic Mortgagc_~r the Note conflicts with applicable law, such conflict shall not affect
k other provisians of this Mohgage or Ihe N~itr which can be given effecl without the conflicting provision, and to this
~ end the provisions of the Mortgagc and the Note arc Jcclared to t+e severable.
! . l6. Borrower's Copy. Borrower chall t+c furni~hed a conformed copy of the Note and of thic MortRage at the time
E of execution or after recordation hereof. .
4 l7. Traasfer of the Property: Accumplion. If al! or any part of the Property or an interest therein is sold or transferred
~ by Borrower without i.ender's prior wrincn con~em_ excluding lal the crcation of a lien or encumbrance subordinate to
~ thic Mortgage, fb) the creation of a purchacc m~.ne~• ~ecurity interest for household appliances. Ic) a transfer hy devise,
~ descent or by operation of law• upon the Jeath of a j~„nt tenant or (dl the grant of any leasehold interest of thrcc ycars or lea
~ not containing an option to purchase, Lender may. at I.ender'~ optioo, declare all the sums secured by this Martgage to tx
immediately due and payable. [_ender ~hall h•rve Nai~•ed such option to accelerate if, prior to the ~ale or transfer. i_ender
and the person to whom the Property iti bc colJ or transferred reach agreement in writing that the credi! of ~uch percon
is satisfactory.to I_enJer and that the interr.~ payable on the sums secured by this Mortgage chall be at such rate a~ l.end~r
shall request. tf [_ender has waived the option to accelerate provided in lhis paragraph 17, and if Borrower i successor in
interest has executed a written assumption agreement accepted in writing by I_ender, [_ender shall releace Borrower from all
~ obligations under this Mongage and the Note.
~ tf Lender exercises such~option to accelerate, 1_enJer shall mail Borrower notice of acceleration in accord:~ncr uith
paragraph 14 hereof. Such notice shall provide a pericxi of riot less than 30 dayc fram the date the notice is mailed within
~ which Borrower may pay the sums declared due_ If Borrower (ails to pay such sums prior to the expiralion of ~uch pen~~d.
~ Lender may, without further notice or ckma~d on Borrower, invoke any remedies permitted by paragraph IR hereof.
~
~ Notv-Utv~FORnt Covetver?TS. Borrower and Lender funher,covenant and agrce as follows:
~ l8. Accelerstioe; Remedies. E:cepl as provided ia paragnpA 17 hereof. upon Qomowtr's bresch of aay corensnt or
agreemeat of Borrower in this Mo~a~e. locludinR the corenanfs to pay whee due sny snms stcund by this MortRage. I.endcr
; prbr to sccekrstbo shall mail aoNce to dorrower as provided in para~raph 14 hereof specNyioa: (i) tAe bresch: /2) the actbn
~ reqnlred to care soe6 brrscb; (3) s dNe. not ks tban 30 days tmm the date tbe uoNce b a~afled to ~orrower. by .rhicl~ wcb
~ brssch mntt be cured; aad (4) tAat fdlure to curc wch bre~ch oa or betore tbe dMe speeiBed in the notke may recult in
~ accekration of the sams secYred by Ihis MortRa~e. toncbsure by judkial proceedie~ aad sak ot the Property. The notice
i shall furlher inform Eormwer of the ri~ht lo reinstate dler accekratbn and the ~ht to assc~i in the forecbsure proceedL~
tbe non-existence ot a defauN or any otker detense of Borrowe~ to sccekrstbn and torecbsnrc. it tl~e bnsch is oot cored ou
~ or 6cfore the dsfe specified ia tbr notke. Lender at I.ender's optbn may declue afl of the sns~s secercd by this MortRs~e to be
~ immediately due and paysbie without fuAher demand and may toreclose Mis Mai~sRe by jndicisl proceedinR. I.ender chall
~ be eodtled to collect in wcb Proceedin~ aN espenses of foreclosure. ioclndin~, Aut ~ot Bmifed to, rcasonsbk alt~xney's fets.
~ aad costs oE docemeetary evidence. sbstrsc~s and titk rcports.
~ 19. Sorroner's Rl~bt to Reimiste. Nc~withctandmg I.ender s acceleration of the sums securcd by ~h~s Mortgage,
~ Borrowe~ shall have Ihe right to have any proceedings bcgun tiy I.ender to enforce this Mortgage disconlinued .t any time
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