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t.ender i written a~rcemeot or applicable Iaw. Horrower shall psy the amount of al) mort~age insurance premiums in tho
manne~ providal unde~ para~raph 2 hereot_
Any amounts disbuned by Lender pursuant to thu paragraph 7, with interat thereon, shall become additional
inJeb~edness of Borrower secured by Ihis Mortgage. Unless Borrowe~ and Lende~ agrce to olher tortns of psyment. such
amou~ts shall be payabk upon notice from I.e~der to Borrower reaucsling payment thereot. and shail bear intcrest trom the
date oi disburxment at ihe rate payebk from time to time on outstanding principal under the Note unless payn~nt ot
interest at such n~te would be contrary to applicable law, in which event such amounta shall bear interest at the hi~hest rate
Qermissibk under aQQlicabk law. Nothing contalned in ~his QaraaraQh ~ ahdl requite I.e~der to iocur aay eape~ae or talce
any action henuackr.
d. iss~ecdoa Lender may make or cause to be mack rcasonabk en~ries upon and inspections of the Property. provided
that Lender shall give Borrower notice prior to a~y such inspection speci[ying nasonable cause thercfo.r rclated to Lender's
interest in the Property. ~
9. Co~e~tba. The proceeds of any award or clsim for damages, dircet or consequential. in connoction with any
condemnation or other taking of the Property, or pan thercof. or for conveya~ce in lieu of condemnation. are hereby assig~ed
and ahall bc paid to Lender.
in lhe event of a total taking of the Property, ihe procceds shall be applied to Ihe s~~ms securcd by this Mo~tgage.
with the ezcess, if any. paid to Borrower. in the event of a partial taking of the Property. unless Borrower and I.ender
otherwise agree in writing, therc shall be applied to the sums securcd by this Mortgage such proportion of the proceeds
as is equal to that proportion which the smount of the sums secured by this Morigage immediately prior to the date of
taking bean to the ftir market value of the Property immediately prior to the date of taking, with the balance of the procads
paid to Bormwer.
if the Property is abandooed by Borrower, or if, after notice by I.ender to BoROwer that the co~demnor ofFers to make
an award or settk a clsim for damages, Borrower fails ta respond to Lender within 30 days a(ter the date such notice is
mailed. Lender is authorized to collect and apply Ihe procoeds, at I.ender's option, cither to restontian or repair of the
Propeny or to the sums securcd by this Mortgage. ~
Unless Lender an~ Borrower oti~rr~ise ~gree irs writi~~~. a~~y s~h app~ic~ti~.a-a~ ~ra:.~ ia p:iz~~s! sha!! rxrt t•••r.~
or postpone the due date of the monthly installments rcfcrred to in paragraphs 1 and 2 hereof or change tha amount of
such installments. ~
10. Borrower Nof Rek~sed. Extension of the time for payment or modiflcatio~ of amortization of the sums socured
by this Mortgage granted by I.ende~ to any successor in interest of Borrower shall not opente to nlease, in any manoer. ?
the liability of the original Borrower and Borrower
s s~~ccessorc in intercst. Lender shall not be required to commence .
prceeedings against such successor or •rcfuse ta extend time for payment or otherwix modify amo~tization of the su~ ~
secured by this Mortgage by reason of any demand made by the origioal Borrower and Bonower's successon in interest.
11. Rorbean~nce by Leader Not ~ Waher. Any forbearance by I_ender in exercising any right or rcmedy hereunder, or
o~henvix aftorded by applicable law, shall not be a waiver of or prectude the exercise of any such right or remedy.
The procurcment of insurance or the payment of taxes or other •liens or charges by i~nder shal) not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured hy this Mongage.
, lZ Remedks Cmnalati~e. All remedies provided in this Mongage are distinct and cumulative to any other right or ' ,
rcmedy under this Mortgage or afforded by law or equity. and may be exerciseci concurrentiy, independentiy or successiveiy. -
13. S~ccesso~s asd A~NS Eound; Joiet and Se.~eral i.iability; Csptions. The covenanta and agreements herein .
contained shall bind. and the rilthts hereunder shall inure to, the respective successors and assigns of Lender and Borrowe~. ,
subject to the provisions o[ paragraph 17 hereof. All covenants and agrcements of Borrower shall be joint and several.
The captions and headings of the paragraphs of .this Mortgage are for convenience only and soe not to lie usod to
interpret or define the provisions hercof.
~4. NWke. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to $orcower at
the Property Address or at such other address as Borrower may designate by notice to T~nder as provided herein, and
(b) any notice to Lender shall be given by certified mail, retum receipt requested, to i.ender s address stated hercin or to
such other address as I.ender may designate by notice to . Borrower as provided herein. Any notice provided for in this
Mortgage shall be dcemed to fiave been given to Borrower or l_ender when given in the mannar designated herein.
ls. UnNonn Mort~a6e; Governin~ La.?; SevcrabUily. ~This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by juriscliction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. in the
event that any provision or clause ot this Mortgage or the Note conflicts with applicabk law. such conflict shall not affect
his
~ other provisions of this Mortgage ot the Note which can be given effect without the confl~etmg prov~sion. and to t
! end the provisions of the Mortgage and the Note are declared to be severable.
16. dorrower's Copy. Borrower shall be furnished a con(ormed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. 7Yan~fer of t6e Property: A~omption. If all or any part of the Property or an interest thercin is sold or tnnsferred
by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase money security interest for household applianca. (c) a transfer by devise.
dacent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intertst of thrce years or ltss
not containing an option to purchase, l.ender may, at Lender'x option, declare all the sums securcd by this Mortgage to be
immediately due and payable. I.ender shall have waived such option to accelerate if, prior to the sak or transfer. L.ender
and ttie person to whom the Property is to be sold or transferred resch agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
shall rcquat. If Lender haz waivod tlx option to accelerate provided in this paragraph 1~, and if Borrower's successor in
interest hac executed a written assumption agreement accepted in writing by I.ender, 1,snder shal! rdease Borrower from aU
obligations under this Mortgage and the Note.
If Lender exercises such option to accelerate, LenJer shalt mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
which Borrower may pay the sumi declared due. If Borrower fails to pay such sums prior to the expiration of such period.
Lender may. without further notice or demand on liorrower, invoke any remedies permitted by paragraph 18 hereof.
Nori-Utv~FOeut Covexerrrs. Borrower and t.ender further covenant and agne as folloas:
~ 18. Accderatba; Remedia. Escept as provided in pan~nph l9 hereof, npos Dorrower's breac6 of asy co•eout or
~ a~reeme~t ot Borruwer ~ tML Mat=a~e, focladie~ tbe co~eeaots to W7 whea doe ssr s~~os xnred by t~is Mor1iK~+ ~
~ prior to sccekratb~ sbad ma~ aotice to Eorrower ad pro~ided is ~raph 14 i~ereof specif~: (1) tbe breacb: (Z) ttie actio~
re~rired b c~re secl~ 6reacY: (3) a date. nat las than 30 days iwa~ tbe date We aoNce is maikd W Eorrower. 67' whkh web
bresc6 mwt be c~: a~ (I) t6M fdiun to cnre such bresc~ oe or betore t6e date s~eciied b t~e ooHce m~ raalt b
~ ~ccderstfo. ot tbe ~s sa~red by this Mort~e, toreclosun bp jadicial pwcc~di~ ~ sale of fbe Propertr. 'ILe aotke
~ shtll fertber iuterm dorrower of tbe ri~lM to rsi~state aNer sccekraNon aad tbe ri~6t to arert h tbe forociowre ~rnceedie~
~ tre ooa-e~tesce d s detatik or a~y dher deteme of Borrower to accekratioa and foreclosnre. it the breach is aot cored oe
= or bdore tbe date specf6ed i~ t6e votice. Lesder st I.ende~'s opdoA atay dechre aA of tbe wets sec~red by tids Mart=a~s b be
~ immedhtdy doe aod psyabk wkbo~t fartLer deaaod asd may foreclose tl~ Mort~e bp jddkial Proc~~. Leader s~ll .
be ead~ to couect in s.c6 proee~dlu~ ~ espe.~a ot toreclosare, inclodio~, be~ aoe liwikd.to, rwoeabie aaoras~s fees,
~ aod eads of docsoe~eta~ eridescq sh~trscb snd dtle rcporb.
19. Eorrower's R1~6t to Reiaitate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage,
~ Borrower shall havt the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
ac.~K
~ " k 299 PACE 216
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