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Lender's writtea a~eemeat or appticable law. Borro~ d~aU pay the amount ot all mort~a~ ias~uance p~+aaitant in tbe i
maane~ providod under pusarspb 2 hereot. ;
Any amouob disbutsed by i.ende~ pursuaat ~o this pa~aph 7. with iuterest thereon. shall bccome additional
indebtednas ot Elorrower securod by Ihis Mortaaae. Unkss Borrower and l.ende~ a~~+ee to other tem~s of payaaeM. wcl+
amouMs shall be payabk upoo nolice from I.ende~ to Bomower roquesting payment ihereof, and shall beu intuat froae the
date of disbursement at the nte payabk from time to time on ouhta~din~ principal under the Note unkss payma~t ot
interest at wch nte would be contnry to applicabk law, in which event such amounb shall beu interest at the hi~st ra~e i
permiss?'bk under spplicabk law. Ndhing oonuined in this paraEnph 7 shall requit+e i.endet to i~cur aay expeme o~ hk~ ~
' any action heceunder. ~
i. I~ectiM, i.ender may make or cause to be made reasonabk entries upon and inspections of the Property. pwvidod ~
that [.e~ shall give Borrowe~ notice~?rio~;W anksuch inspection specifyina reasonabk cause thcrefor related to Leode~'s ~
interest in the Pr~operty. t' :
9. Co~dewwadow. The proceeds of sny award or claim (or damages, dircet or rnnsequential. in connection with any ~
condemnation or dher takina of the Propcrtp: or part thereof. or for conveya~ce in lieu of condemnation. an hereby assiaoed ~
and shall be paid to l.ender.
in the eveM of a tot~l taking of the Pmpeny. the proceeds chall be applied to the sums secured by this Mo~tsaae. i
with the excess. if aay, paid to BoRawer. in the eve~t of a partial taking of the Property. unlest Bomowe~ and i,ender ~
otherwise sar+oe in arriting, there shall be appliod to the sums socurcd by this Mortgage such pmpo~tion ot the prooeed: ~
u is equal to that propo~tian vrhich the amount of the sumc secured by this Mortgage immediately prior to the dste of
takiag bears to the fair market value of the Prc?peny immediately prior to the date of taking, with the balanoe of the proceeds }
paid to Bormw~er. ~
If the Property is abandoned by BoROwer, or if, after ootice by Lender to Bomower that the condetnnor ot[en to make ~
an award or xttk a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
maikd. I.ende~ is authorized to colkct and apply the p~oceeds. at L.ender's option. either to restoration or repair of the
Propeny or_ to the sums securcd by this Mortga~[e. ~
Unlas Lender and Borrower dherwise agrce in vvriting, any such application of proceeds to principal shall not extend
. of postpone the due date of the monthly installments rcferned to in paragraphs 1 and 2 hereof or change the amount of
Such installments.
10. ~o~rower Not Rela~ei. Extensioo of the time for payment or moditication of amortization of the sums sxured
by this Mottgage granted 6~y Lender to any ~ucc~ecsor in interest of Borrower shall not operate to. rekau. in any manr~er,
the liability of ihe original Borrower and Bc?rrower s successors in interest. Lender shall not be required to commence
proceedi~gs against such successor or rcfux ta e~tend time for payment or otherwise madify amonization of the ~ums
securcd by this MortEage by reason of any demand made by the oriR~nal Borrower and Borrower's successors in iNercst.
ll. Forbearawee y i.ewaer Na s wai~er. Any fotfiearance by Lender in exerrising any right ot remedy henunder, or ~
otherwise aBordod by applicabk law, shall nc?t be a waiver of or prcclude ths exercise of a~y such right or rcmedy_
'il~e procurement.of iiuurance or the payment of taxes or other lie~s or charges by Lender shall not be a waivcr of L.ender's
right to accekrate the maturity of the indebtedness cecured 6y this Mortgage.
l2. Reweaics Co~hd~e. A!I remedies.provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or atforded hy law or equity, and may be exercised concurrently, independently or successively_
' 1g, S~ceet~ws a~ Assi~as ioNSd; Joi~t awd Serertl i3a6ililr; Capfions. 'i1~e covenants and agreements herein
contained shall hind, and the rilthts hereunder shall inure to. the respective successors and assigns of Lender a~d Borrower.
subjoct to the provisions of puagraph 17 hereof. All covenants and agreements of Borrower shall be join) and severai.
The captions and headings of the paragraphc of this Mortgage arc for convenience only and are not to be used to
interpret or define the provisions hereof. -
14. Notice. " Except for any notice required u~der applicable law to be given in another manner. (a) any notice to
Borrower provided for i~ this Mortga¢e shall be given by mailing such notice by certificd mail addressed to Borrower at
the Property Addrcss or at such ahcr addresc as Bormwer may designate by notice to i.ender as provided herein, and
(b) any notice to Lend~r shall 1x given by cehified mail. return rcceipt~ requested, to I.ender s address stated herein or to
such other address as Lenckr may designate by notice to Borrovrer as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
15. UaKorw Mort~a~e: Corer~ La~r; Se•enblty. This form of mortgage combines uniform covenants for national
I use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
~ real property_ This Mortgage sha0 be governed hy the law of the jurisdictio~ in which the Property is located_ In the
event that any provision or claus~ of thi~ Mortgage or the Note conflicts with applicabk Iaw, such conflict shall not affect
~ other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
e end the provisions of the Mortgage and the Note are Jeclared to be severable.
E ~ 16. Borrower's Copy. Borruwer ihall be furnished a conformed copy of the Note and of this MortRage at the time !
of exceution or after recordation hercof.
17. 1'ra~sfer of ttie P~o~erty: Assomptioa. if all ot any pan of the Property or an intercst thercin is sold or transferrcd
by Borrower without Lender
s prior wrincn consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creat~on of a purchace money ~ecurity intercst for household applianca. (c) a transfer hy devise.
descent or by operation of law• upon the death of a joint tenant or (d) the grant of any leasehold interest of threc years or less
not containing an option to purchase. Lender may, at Lender'c option, declare all the sums secured by this Mortgage to be
immediately due and payabk_ Lender shall have w•aived such option to accelerate if, prior to the cale or transfer. I.ender .
and the person to whom the Property ic to be +c+IJ or transferred rcach agreement in writing that the credit of such perxon
is satisfactory to Lender and that the inter~-~t pa~abk on the sums secured by this-Mortgage shall be at such rate a~ I.ender _
shall request. If Lender has waivod the option to accelerate provided in this paragraph 17, and if Borrower i successor in
interest hu exeruted a written assumption agreement accepted in writing by Lender. Lender shall rclease Borrower from all
obligations und~r this Mortgage and the Nae.
If Lender exercixs wch option to accelerate, Lender chall mail Borrower notice of acceleration in accordancc uith
puagraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date ihe notice is mailed within
which Borrower msy pay the wms doclarcd due. If Borrower fails to pay such sums prior to the eapiration of such period,
l.ender may, without further notice or demand on B~rower, invokr any remedies permitted by paragraph 18 hereof.
Nox-Urr~FORM CovFNSrns. Borrower and Lender further covenant and agrce as follows:
k' 18. Acede*atioK Res~dies. Facept as provided iw para~rap6 17 hertof, rpo~ Eorrower's breacii of a~y co~eaant or
~ a~ree~e~ of Eorrower i~ t~k Mo~e, ~ tre cweeaMs to pa~ wl~en doe say soms eecared by tbis Mort~a~e. i.ender
ptior ts s~cderatio~ srtY ~ai ~otice to Dorrower as pmrided iw para~rapb 14 Utrtot speclf~: (1) t6e b~cb:/2? the scfion
req~hei to aue s~c~ irescit: (3) a aate, eot ks traw 3A dsys froea tbe date tbe aotice is maikd to ~orrawer. by which wcM
breac~ oat be e~re$ a~i (4) tMaE taibre b cue srch bresc~ oe or befors tbe date speeified i~ ibe aotice a~sy nsult iw -
acc~ekraKoa d tie w~ secve~ by tl~is Mo~aRe. to.+eclosure by judkial trocetdis6 aad sak of tbe Property. 'Il~e notke ~
~ sbad brtber i~Eone Dorrower d t~e ri~M to reiastste afler secekration aod tbe ~6t to as~ert in t6e foreclosure proceedhL `1
t~e eos-esi~te~ce of s~a~lt or aq atber defeuse of sorrower to accelerstios and foreclosen. if tbe breich is eot cured o0
~ or before tlie dalt s'tc~d i~ tre ~otke. Lewder at [.ender's optioa a~sr dtclare all of tlx sn~s sccwrcd by tbis MortRsRe b be ;
iomedvtetY d~e a~i Mysbie w~itbN f~utber dem~nd ~nd msy forecbst t6b Mortta~e by j~dicW N+oeeedi~. I.ender chaN ~
be ~ to coliett i sscr'roeeedi~L sw uptases of foreclosere. i.c{~edio~, bet ~ot Weited to, reatoaa6le atturney's fees.
aed eo~ts ot doe~nfarp ~~f~e~et• abt~~s ~ud litk nports.
1~. foaower's R1~if to ReL~tate. .Notwithstanding (_enders acceleration of the sums securcd by this M~rtgage,
gorrowru sha11 have the right to have any proceedinp,s be~un hy Lender to eoforee this Mortgage discontinued at any time
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R~RK 302 FAC: 789
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