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• Leader's written agreement a applicabb law. Borrower shall pay the amount o[ all rrtottgtt~e insurance prei ?iurnt in the
matuter provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and. Lender agree to other terms of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and'shall bear iatereri from the
date of disbursement at the rate payable from time to time on out:landing principal under the Note unless paymatt of
interest at such rate would be contrary to applicable law, in which event such amounts :shall bear interest at the highest rate
permistibk under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or fate
any action hereunder.
ZL lwpeeNow. lender may make or ~~e to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower•tt~i}~ ~rinr to any arch inspection specifying reasonable caux therefor related to Lender's
interest in the Property.
9, Cowtlessrrtttbw. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby sssigned
and ,;tall be paid to Lender.
Tn the. event of a total taking of the Property. the proceeds shall be applied to the sums sccttred by this Mortgage,
with the excess, if any, paid to Borrower. In tht: event of a partial taking of the Property. 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 by Borrower, or if. after notice by i_ender to Borrower that the condemnor offGn to make
an award or settle a claim for damages, Borrower fails to respond to lender within 30 days after the date such notice is
mailed. Lender is authoriized to collect and apply the proceeds. at Lender's option. either to ratoration or repair of the
Repert~ or to the sums secured by this Mortgage.
Unless l.eoder and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
or postpatte the•due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by lender to any cuccecsor in interest of Borrower shall not operate to rckax, in any manner.
the liability of the original Borrower and &•rrower's successors in interest. Lender shall not be required to commence
pra;eedings against such successor or refuse to eciend time for payment or otherwise modify amortization of thr sums
secured by this Mortgage by reason of :arty demand made b}• the original Borrower and Borrowers successors in interest.
11. Forbearance by I.eadtr Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder. or
otherwix afforded by applicable law. shall not he a waiver of or preclude the exercix of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not he a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedks Costsbttire. All remedies provided in Chic Mortgage arc 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 successively.
• ' •l3. Successors sad Asdgus Bound; Joist sad Several Liability; Csptbas. The covenants and agreements herein
contained 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 joiry 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 provisior?c hereof.
14. Notke. Except for any notice rcyuired under applicable law to be given in another manner, (a) any, notice to
Borrower provided for in this Mortga¢e shall he given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such ~Nher address as Borrower may designate by notice to Lender as provided herein, and
(h) any notice to Lender shall he given 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 Bormw•cr ur l.cnder when given in the manner designated herein.
1S. Uniform Mortgage; Governing saw: Severability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction 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 of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
j other provisions of this Mortgage or the Ni~tr which can I?e given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note arc declared to he severable.
16. Borrower's Copy. Borrower shall be furnished a conformed cop}~ of the Note and of thix Mortgage at the time
of execution or after recordation hereof.
17. Transfer of the Property: Assumption. If all or an}• part of the Property or an interest therein is sold or transferred
s by Borrower without Lender's prior wrincn consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the crcatson of a purchase m~~nr}• security interest for household appliances, (cl a transfer by devix.
~ descent or by operation of law upon the death of a j~~int tenant or (dl the grant of any leasehold interest of three years 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 has•e w:uved such option to accelerate if, prior to the sale or transfer. 1_ender
and the person to whom the Property is t~~ be :old or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest pa}•able on the sums secured by this Mortgage shall be at such rate as 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 lxnder, Lender shall release Borrower from all
obligations under this Mortgage and the Note.
If [.ender exercises such option to accelerate. 1_ender 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
which Borrower may pay the sums declared due. It 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 18 hereof.
~ Now-UwtFOat?.t CovewewTS. Borrower and lender further covenant and agree as follows:
I8. Aeeekrstbs; Reraedks. E:cep as provided is pansgrspb 17 hereof, apoa Iliorrower's breach of say corensst or
agreesxst of Borrower is this Mortgage, including the corensnts to pay wbes dire say seas secured by tbEs Mortgage. Leader
prbr to sccekratbs sbdl avail notice to Borrower as provided is paragraph 14 hereof specHyieg: (1) the breach; 12) the actbn
r+egtrired b cure web breach; (3) a date, aot less than 30 days from the dste the aotke & ssdkd to Borrower. by whkb sash
brescb ruttst be cared; sad (4) that failure to care sack brescb on or before the date specYed i• the aotke nay resdt is
secderatbs of the wart itecured by this Mortgage. foreclosure by jadkW proceeding sad ,sale of the Property. The notke
shay further inform Borrower of the right to rciastatc after accckratbn and the right to assert is the torecbsnrc proceedis~
the aon-a:istence of a detanlt or any other defense of Borrower to sccekratba and foreclotarc. If the bnacb is aot eared oa
or before the date speefBcd V the sofke. Lender at Lender's optbw racy declare sli of the susts secured by this. Morigafe b be
i immediately due sad payable without further demand and may foreclose this Mortgage by ~ttdkial proceeding. Lender shdl
be estitkd to collect iA sash proceeding sN expenses rat torecbsare. iaclsdiag, but sot limited to, reasoasble attarnr-r's fees.
and costs of ~iuc.~rsestary eridence,_ dtstrscts and title reports.
i 19. dorwwes's Right to Reinstate. NotwitMtanding Lenders acceleration of the sums secured by the M.~rtgage.
Borrower shall have the right to have any proceedsng~ begun ~y Lender to enforce this Mortgage discontinued at any time
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