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• tender's written .~g cement or app6catle law. Borrower shalt pay the amount of .?U mortgage iasuraeicept~llsittms in the
manner provided uadcr paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to tha paragraph .7, with interrst thereon. shall become additionrl
indebtedness of gorrowcr eecurcd by this Mortgage. Unless Borrower and Lender agree to other terms ui payment, such
amounts shall be payable upon notice from i.ender to Borrower requesting payment thereof, and shall bear interest frtarrt the
date of disbursement at the rate payable from tithe to time an alt:landing principal under the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amounU shall bear interest at the highest rate
permi:,sibk under applicable law. Nothing contained in this paragraph 7 shall require: Lender to incur any expense or fate
any action hereunder.
>l Iwspectiow. lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender'a
interest in the Property. : / : ~ ' ~
9. Cooekwrwatbw. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property: or pate thereof, or for conveyance in lieu of condemnation, arc hereby assigned
and s tall be paid to t.endcr.
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 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 Bar:awer. ar if. after notice by Lender to Borrower that the condemnor offea to make
an award or settle a claim for damatc+. &~rn~wer faih to respond to Lender within 30 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
Property or to.the sum, secured by this Mortgage.
Unless !.ender and Borrower otherwise agree in a•rittng. any such application af-proceeds to principal shall not extend
e:r postpone 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. fixtcnsion of the time far payment or modification of amortization of the sums secured
by this Mortgage granted by Tender to any cttrcecsetr in intercct of Borrower shall not operate to release. in any manner.
the liability of the original Borrower and Bc?rrower'c sttecescarc in interest. Lender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortizat~an of thr wins
secured by this Mortgage by reason of :tin demand made b)• the c~rieina) Borrov?rr and Barrower s sttccescars in interest.
11. Rorbeanwce by Lender Not a Waiver, Any forttearanrc h~• L~•nder in exercising any right or remedy hereunder, or
otherwise afforded by applicable law. shall hat he a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens ar charges by !.ender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Reweedks Comulath?e. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity. and may he exercised concurrently, independently or sttc.essively.
' I3. Successors awd Assigws Bound:.joint and Se~•eral I.iaM'lity; Captions. The covenants and agreemen s herein
contained shall bind, and the rights hereunder shall inure to. the respective succescorx and assigns of Lender and Harrower. j
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joinj and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only'arid are not to he used to
interpret or define the provisions hereof.
14. Notke. Except for any native rcyuircd under applicable law to be given in another manner. (a) any notice to
Borrower provided for in this 1lfiortga¢e ,hall he given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other addres+ as Borrower may designate by notice to fender 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 Borrawer as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or !.ender when given in the manner designated herein.
1S. Uniform Mortgage; Governirq; Law: Sevenbility. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variatianc M• jurisdiction to constitute a uniform security instrument covering
t 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 Martgagc car the Nate conflicts with applicable law, such conflict shall not affect
~ other provisions of this Mortgage or the Note which ran be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the :Vote arc ~lcrlared to he severable.
I6. Eorrower's Copy. Borrower shall he furni+hed a rnnfarmed cope of the Note and of this Mortgage at the time
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of execution or after recordation hereof. i
17. Transfer of the Property: Assumption. If all or any part of the Property or an interest therein is said or transferred
€ by Borrower without Lenders pricer wrench ron+ent. esduding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creattan of a purrha+c mc~ner +ecurity interest far household appliances, /c) a transfer by devise.
i descent or by operation of law upon the death of a faint tenant or (oil 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 hrve w:cived such option to accelerate if, prior to the ,ale or transfer. Lender
and the person to whom the Property is to be :alcl or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interr+t payable an the stems secured by Chic 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 ~ successor in
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower tram all
obligations under this Mortgage and the Note. I
If Lender exercises such option to accelerate. 1_ender shall mail Borrower notice of acceleration in accordanrr u ith
paragraph 14 hereof. Such notice shall provide a period of not lest than 30 days from the date the notice is mailed within
t which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of wch period.
_ Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1R hereof.
NoN-UHtt=oRM CovervaNrs. Borrower and Lender further covenant and agree as follows:
18. Acceleratiow; Rewtedks. Except as provided in paragraph 17 hereof, opow 1Romorrer's breach of awy covenant or
agreement of Borrower in this Mortgage, including the covenants to Pay whew doe say satins secured by this Mortgage, fender
prbr to sceekratiow shah mail wotke to Borrower as Providtd iw paragraph 14 hereof specNyheg: (1) the brescb; (2) the sdioa
required to core such breach; (3) s date, not less than 30 dsys from the date the wotke b sasHe:d to )sorrowcr. by whkb such
bettacb wrest be cared; awd (4) that failure to cure loch breach ow or before the date specified iw the wotke may result in
r sccderatiow of the soars secured by ibis Mortgsge. toreclosrrre by judkW proettdiwg awd sale of the Property. Tile notke j
shall further iwform >Ilorrower of the right to reinstate after accekratbn awd the right to atwert in the forecbsnre pr+oceedbq
the non-exkte;wce of a defsok or awy other detee?se of Borrower to accekrstiow and foreclosure. If the breach is sot cortd ow
or before the dste specified iw the aMice. Lender at Lender's optiow may decbsre sq of the sows seeored by this Mortgafe.to be
immediatdy due and paysbk without further demand and may foreclose tbts Mortgage h' jodkial Proceediwg. f.endrr shall
be entitled to collect in snob proceeding sU a>zpenses .tf foreclosure, iwclodiag, hot wet Wwited to, reasowabk ~ttnrnr is fees.
swd costs o[ .ivcr~wewtary evidence, abstracts and title reports.
s 19. )dorrower•s Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this M.~rtgage.
~ Borrower shall have the right to have any proceedtnga begun by Lender to en[orce this Mortgage discontinued at an}• time ?
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BOOK J~11 PACE 2U~
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