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Lender's written agooement ot applicabb law. dorrower shall pay the amouat ot all morttage insuraaoe pt~emiurra in the
manner provided unde~ pana~aph 2 hereot. ,
Aoy amou~ta disbuaed by I.endcr pursuant to thq parag~aph 7. with iaterest thereon. ahall bocoma additional
indebtedness of Borrower secured by ~his Mohgaae. Unkss Bonowe~ and LenJe~ aaroe W othe~ tem~s of payment, such
amaunts shall be payabk upon ndice from I.ender to Boroowe~ roquesti~g psyme~t thercot, aod shall bear interdt from the
date ot disbursemrnt at the nte payabk fmm time to time on a~tstandin~ principal under the Note unless paytnent ot
i~tercst at auch nte would be contrary to applicabk law, in which event such anwunts shall besr ioterest at the hi~rt nte
perm~sibk unde~ applicabk law. Nothing contained in this parasnph 7 shall roquire I.enda to incur aay ea~petaa or td[e
any actan hereunder.
s. I~eetio~. Lender may make ar cause to be made rcasonabk entries upon and i~spoctions of the Property. provided
that i.eoder shall give Borrower notice prior to any such inspection specifying reasonabb cause therefor related to La~det's
intereat in ihe Propeirly.
9. Coade¦~~a1io~. The proceeds of a~y award or cliim tor damages, diroct or cooseqoential. in ca~nection with any
condemnation or dher taking of the Prope~ty, o~ p'rt thercof, or tor coeveyance in lieu of condemnation. are he~r assi6eed
a~d shall be paid to I.ender. ~
.in the event of a tot~l taking of the Propeny, the proceeds chall be applied to the sums securod by this Mortaaae.
with the exceu, if any, paid to Bonc+vrer. In the cvent of a paKial taking of the Propcrty. unless Borr~we~ and LaKk~
otherwise agree in writing, there shall be appliod to the sums secund by this Mortgaae such proportion ot the pt+ucecds
as is oqual to that proportion v?hich the amaint af the sums secured by this Mortgage immediately priar to the data of
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balanoe of the pcoceeds
paid to Borrower.
If the Property is abandoned by Borrower, ar if, after notice by I.ender to Borrower that the oondemnor ofias to mate
an award or xttlt a claim for damages, Bormwer fails !o rapond to Lender within 30 days after the date such notice is
mailod, i.ender is authorized to collect and apply ~he proceeds, at Lende~'s option, either to ratoration or ttipsir of the
Properly or to the sums securcd by thi~ Martga~[e.
Unless Lender and Borrower othervvise agrce in a~riting, any such application of procoeds to principal shaq not eatend
- or postpone ~the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
lA. Dorrower Nof Reka~ed. Extension of Ihe time for payment or modiflcation of amortiution of the sums secured
by this Mortgage granted by Lender ta soy cuccessor in inte~cst of Borrowe~ shall not opente to oekase. in any.manner,
the liability of the original Borrower and Borrower
s successors io interest. Lender shall not be ooquircd to commenoe
proceedings against such successor or refuse to extend time for payment or otherwise modify amortiution of the s~~ms
secured ~y this Mortgage by reaso~ of any demand made by the original Borrower and BorrowePs successors in iMerect.
1l. Forbear~sce by I.eeder NM a Waiver. Any forbearance by i.ender in exercising a~y right or remedy hercunder, or
othervvise afforded by applicabk law, shall nc~t be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insu~ance or the payment of taxes or other liens or charges by Lender sha11 not be a waiver of L.ender's
right to accelerate the maturity of the indebtedn~ss sca~red hy this Mortgage.
12. Remedia ComahH~e. All rcmedies pmvided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or alforded hy law or equity, and may bt exerciscd concurrently, independently or soccessively. .
' 13. Srccesson aad AssiR~s Douad; Jo~t sad Several i.is6i~ry; Captloas. The covenants and agrcements herein
con~ained shall bind, and the riRhts hereunder shall inurc to, the rapoctive suocessors and assigns of Le~der a~d Borrower.
subj~ct to the provisions of paragraph 17 hereof. All covenants and agrr.tments of Borrower shall be joiry and several.
The captions and headings of the. paragraphs of this Mortgage arc for convenience only and ane not to be used to
interpret or de6ne the provisions herrnf.
14. NMice. Except for any notice required under applicabk law to be given in another manner, (a) any notice to
Borrower provided for in this Mortga¢~ shall be given by mailing such rtotioe by certifled mail addressed to Borrower at
the ~Property Address or at such wher addresx as Bormwer may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall he given hy certified mail, return receipt requested. to i.ender's addras stated hercin or to
such other address as Lender may decignate by natice to Borrower u provided herein. Any notice provided for in this
Morigage shall be deemed to havc been given to Bc~rrower or Lender when given in the manner designated herein.
lS. UnKone MoK~a~e; Goveraiu~ I.aw; Seve~abNity. This form of mortgage combines uniform covenants for national
use and non-uniform covenams with limited variaticx~s by jurisdiction to constitute a uniform security instrument covering
I~ real propeny. 71~is Mortgage shall be governed hy the law of the jurisdiction in which the Property is located. 1n the
event that any provision or clause of thic Morigage or the Note conflicts with applicabk law. such conflict shall not atfect
~ other provisions of this Mortgage or the N~te which can be given efiect wi~hout ~he confticting pmvision, and to this
end the provisions of the Mortgage and the Note are declared to be sevenbk.
16. dorr+nwe~'s Copy. Borrnwer shall bc farnicfied a conformed copy of the Note and of this Mortgage at the time
~ of execution or after recordation hereof.
17. Tn~cfer of t6e PropMy: Assomplion. Tf all ar any part of the Property or an intercst thercin is wld or tnnsferrcd
by Borrower without Lender's prior writ~en consent. excluding (a) the crration of a lien or encumbronce subordinate to
this Mortgage. (b) the crcatrcx~ of a purchace money cecurity intercst for household app{iances. (c) a transfer hy devise, .
descent or by operation of law upon the death of a joint tenant or (d) the grant of any kasehold interat of threc ycars or less _
not containing an option to punhase. Lender may, at Lender's option, declarc all the sums secured by this' Mortgage to be
immediately due and payable. Lender shall have v?•aived x~ch oplion to aocelente if, prior to the sale or transfer. Lender
and the person to whom the Properly is to be colJ or transferred rcach agrcement in writing that the crcdit ot cuch petson
is satisfactory to [.ender and that the intcn~ct payable on the sums secured by this Mortgage shall be at such rate ac Lender
shall rcquest. If Lender has waivod the option to accelerate provided in this paragraph 17, and if Borrower's succasor in
interat has eaecuted a written auumption agreement accepted in writing by I.ender. I.ender shall rclease Borrower from all
obligations under this Mortgage and the Note.
If I.eoder exercises such option ~to accelerate, Lender shall mail Bonower notice of accekration in accordan~w u~ith
paragroph 14 hereof. Such notice shall provide a period of rwt las than 30 days from the date the notice is maikd within
which Borrower may pay the sums declarcd due. If Borrower fails to pay wch sums prior to the expiration of cuch pcriod,
Lender may, wiihout further notice or demand on Borrower, invoke any remedia permitted by paragtaph lA herrnf.
NoH-UNrFO~et?t CovENerrTS. Borrower and l~nder further covenant and a6rce u follows:
I8. Accderatior Reaedia. Fareept a~ prnrided i~ pua~rs~ 17 rereof. Ron ~o~ra~a's brac~ of aq co~ew~t or
a~reeacst of do~e~wer i~.dds Mo~a6e. i~cl~a` tYe co~e~ts to ps~, w~e~ due sq s~w~ sec~rsa by tlds Morq~e. [.e~der
prior M seederMb~ slu~ ~~otiet to dwrower as pro~Wed i~ para~rspU 11 rereot steelt~: (1) t~e brcacr: (2) the sctio~
reqoird b eae wcr MraeM, (3) a dah. sot las trae 3~ dsys frow tre aate tlic ~otice is ~aYei te Eonower. bp wl~icli srci~
brae~ wwt be c~ee~ s~d (4) dat tdtire b c~e s~cb MrscM o~ or reta+e tre date s~eciBea b tre ~Mke wy res~lt ia
accekrat~o~ oE t`e s~s uc~d by tr4 Mo~a`e, Iaeclosun r! P~K a~i s~le of tbe Pro'erlr. 7Le wotke
shall fnrt~cr i~focr Eorr~ower ot t1~e ri~M to aiasbfe sfter accelersdo~ au~ tre rl~t b a~erf i~ 1Me toralosrre ~oree~
tie nr~rs~ete~ce oE s aefa~it or as~ otber dctease of SoROr.er to secelc~atio~ s~d to~eclosare. if ttie Mrac~ is ~ot cwed o~ -
or~be~ore IAe iale s~eefiai i~ fMe wotke. I.t~der at t.ender's optioA aay aecl~rt aN ef tl~e s~~ ste~rei !ry d~is Mo~t~e to be "
fssedia~ly dne a~ Myabk r?NboN fwther dem~nd and may forccbse t~ Matt~ ~7 ~ M'~~R. Lender cAaN ~
be ~ to to~ed i~ s~ p~ocesdio~ ar espenses nf foreclosore. isdodie~, brt ~ot Y~ to. rsa~o~tde attwney's fees.
a~d cosb ot iocu~a~ e~idc~cq aEs~*x~s wd litk rcpoNs.
19. Sorrower's R~f fo Rei¦aate. Ncnwithstandin~t Cende~s ucekntion of the wms secured by th~s M~rtgage,
Borrowu sha0 hsve the riabt to have any proceedings be~un hy Lender to enfora this Mortaage discontinuod at any time
BJfK299 PAGE ~9 ~
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