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Lender's written ~~g~~etmnt or appticabb law. Borrower shalt pay the amount of ..il mortgage it>,suraace premittrrr in lhe~
meaner provrdcd under paragraph 2 hereof. {
Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereon. shall become additions!
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agt~ee to other terms of payment. such E
amounts shall be payabk upon notice from Lender to Borrower requesting payment thereof, and shall hear interest front the t
date of disbursement at the ate payahk from time to tithe on outstanding principal under the Note unless payrttent of
interest at such rate would be contary to applicable law, in which event such amounh shall bear interest at the highest rate
permissible under applicable law. NMhing contained in this paragraph 7 shall rcquire~Lender to incur any expense a faire j
any action hereunder. ~ ~
>l. lttspeetiast. Lender may make or cause to be made rea;onabk entries upon and inspections of the Property. provided !
that i.ender shall give Borrower notice prior to any inch inspection specifying reasonable cause therefor related to Lender's :
interest in the Property.
9. Coniemnatbw. The proceeds Hof airy ~ward'or claim for damages, direct or consequential. in rnnnection with any
condemnation or other taking of the Propertji, or part thereof, cx for conveyance in lieu of condemnation. are hereby assigned
and s. roll be paid to Lender.
In the event of a total taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Propeety. unless Borrower and Lender
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned M• Bor: ow•er. or if. after notice by Lender to Borrower that the condemnor offea to make
an award or settle a claim for damages: B~~rrower faih to respond to Lender within 30 days after the date such nutlet: is
mailded, Lender is airtliorized to collect and apple the proceeds. at Lender's c?ption, either to rcstoation or repair of the
Property or to the sums secured by this Alortgage.
Unless lender and Borrower otherwise agree in wrihne. any such application of proceeds to principal shall not extend
or postpone the due da(c of the monthh installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
!0. >don+ower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage gaoled by i.ender t~ any successor in interest of Borrower shall not operate to release. in any manner.
the liability of the original Borrow•cr and Borrower c suecesu?rs in interest. Lender shall not be required to commence ~ i
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the ~~rieinal Borrower and &~rrower's successor in interest.
ll. Forbearance 6y Lender Not a Waiver. Any forhearanee h~ T.rnder in exercising any right or remedy hereunder, or ~
otherwise afforded by applicahk law, shall not be a waiverc~f or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of faces or other liens .x charges by tender shall not be a waiver of LendePs
right to accelerate the maturity of the indebtedness secured by this Mort¢age.
12. Remedies Ctawnrnite. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently. independently or srre.essively.
' 13. Saccessas sad Assigns il<ousd: Joist and $everal Liability; Captbns. The covenants and agreemen ~s herein
rnntained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiN and several. ~ -
The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notice. Except for any notice rcyuired 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 Borrower at
the Property Address or. at such other address as Borrower may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall he gi~•en by certified mail. return receipt requested. to lenders address stated herein or to
such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to &?rrowcr or i_cnder when given in the manner designated herein.
1S. Unffortav Mortgage: Governing Law: $everaM-lily. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform sext~rity 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 of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the N~?te which can- be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Vote arc declared to be severable.
16. ilbrrower's Copy. Borrower shall be furnished a conformed cop) of the Note and of this Mortgage at the time - j
' of execution or after recordation herrnf.
17. Travisfer of ere Property: Assumption. If ~It or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender s prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creaUOn of a purchase mime}• security interest for household appliances, (c) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (dt the grant of any leasehold interest of three year or less
not containing an option to purchase. Lender may. at lender s option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender #
and the person to whom the Property is tx+ be sold or transferred- reach agreement in writing that the credit of such peron ~
is satisfactory to Lender and that the interest- payable on the sums secured by this Mortgage shall be at such rate ac Lender #
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all ~
obligations under this Mortgage and the Note.
It Lender exercises such option to accelerate. Lender shall 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 I
which Borrower may pay the sums declared due. if Borrower fails to pay such sums -prior to the expiration of such period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1R hereof.
Nor?-UNtt:oRM CovENANTS. Borrower and Lender further covenant and agree as follows:
18. Accelersrtios; Remedks. Except as prorided io psrsgrapr 17 rered, epon Borrower's brewer d any coteswrt or
a;reement d borrower h trb MortsrtRe. brcludiwg the cotenants to pay wren doe wry sums secorei by eels Mort~e. Leader
prior M acceleration shell mail notice to Iltorrowtr as proridei is paragrapr 14 rered specifying: (1) ere brescr: (2) the aKtiow
regnrsi to etr+e sever breach; (3) a date. not less craw 3A days from tee isle ere notice M nrailei to Iiorcower. by wrier sever
breacr avert be eared; arad (4) that failure to care sock breach o• or 6etore ere dale sptci8ei b ere notice may resWt iw
acceleratiow of ere ssarr secared by eels Mortgage. foreclosure by jikial proeeedie` awl sale d the Properry..The notice
sraY fwNber inform >dorrower d the riRrt to reitastate after accelcraliow aatd ere right b saucer in tee toreclosrrre proceedngg
trt cow-existewce d a iefadl or any other decease of Borrower to sceeleatiort quad forecbsnre. if ere breach le wet creel ow
a before ere doh speci6ei is ere notice. Lewder at Lender's optiolt may declare a~M d ere stows seerrei by this MortRafr >
immediately doe awd payable witbort further demand and may foreclose trb Morftt~ by jniitW proeeedia4. ~
be eotitkd to collect iw sKr proetedinR sB expenses of foreclosrre. hcht~eg. bnt not Yaritei toti reasowabk ~nnrnrr's fees.
alai costs d ~iuc`~ne~tary etidewce, abstracts and tick reports.
i
1!. sorrowa't Rift to Reirstale. Notwithstandintt lenders acceleration of the sums secured by thrt Mortgage. !
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
BCO!(~~ PACE2O~