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Lender's writtea a~ceement or applicable law. Bo~rower shall pay the amount of all mott~age insurance premiums in t1~e
maaner provided under pua~nph 2 hcceof. ~
Any amounta disbursed by Le~der pursuant to thit paragraph 7, with interest thereon, shall bocome additional
indebted~s of Borrower securcd by this Mort~age. Unleu Bonowu and Lender agroe to other ternu of payment. such a
smounts shall be payAbk upon notice f~om Lender to Bormwe~ request~n6 PaYmen~ the~e°f. and shall bear inte~est from the
date of di:burseme~t at thc rate payabk from Nme to time on outstanding principal under the Note unless psyment of
interest at such rate would be contrary to applicable law, in which event such ~muunts shall bear interest at the hiahest nte
permisaibk under applicable Isw. Nothing rnntained in this paragraph 7 shall require Lendec to incut any e~cper~se or take
any actioa hereunder. ~ ~ ro~~~
S, IrpecNoa. i.ender may make or cause to be made ressonable entries u n and ins tions of the Property. p
that Lender shall give Bocrower notice prior to any such inspection spccifying reasonable cause thereEor nlated to Le~der's
interest in the Propetty.
q, Condeu~natba. The proceeds of any awaod o~ claim for damages. direct or consequential, in connectlon with any ~
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condemnation or other taki~ Of ~1~6:Ih+b{i~rty. or pa~t thercof. or for conveyance in lieu of condemnation, are hereby assi8ned
a~d shall be paid to Lender.
. In the event of a total taking of the Pmpeny. the proceeds shall be applied to the sums aecured by this Mortgage.
with the exoess. if any, paid to Borrower. In the eveot of a partial taking of the Property. unless Borrower and Lender
othervvise agree in writing. ther+e shall be applied to the sums secu~ed by this Mortgage such proponion of the proceed=
as is equal to that proportion which the amount of the sums securcd by this Mortgage immediately prior to tlie date of
taking bean to the fair market value of the Property immediately prior to the date of taking, with the bala?~a of the proceeds
paid to Borroarer.
lf the Propert7? is abandoned by Borrower. or if, after notice by Lende~ to Borcower that the condemnor otfen to make
an award or settle a claim for damages. B~rrower fails to respond to Lender withi~ 30 days after the date such notice is
mailod, Lender is authorized to rnllect and apply the proceeds, at Lender's option, either to ratontion or npair of the ~
Propeny or to the sums securod by th~s Mortgage
Unless Lender and Borrower othenvise agrce in writing, any such applraatis ; oa ar
2~s tf or change the amount
of ~
or postpone the due date of the monthly installments referred to in parag ph
such installments.
1~. Dorrower Not Rekased. Factension of the time for payment or modiflcation of amortization of the sums secured F
by this Mo~tgage granted by Lender to any successor in interest of Borrowe~ shall not operate to rekase. in ~ny man~er. ~
the liability of the original Borrower and Bc+rrower
s succasors in interat. Lenckr shall not be roquired to commena
proccedings against such succeuor or rcfuse to extend time for payment or otherwise modify amortizado~ of the sums ~
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
1l. Forbearance by Leader Not a Wdver. Any forbearancc by I.ender in exercising any right or remedy hereunder. or .
othenrise affordod by applicable law, shall not be a waive~ of or preclade the exerciu of any such right or nmedy.
The procurement of insurance or the payment of taxa ar other liens or charges by Lender shall not be a waiver of Lender'a
right to accelerate the maturity of the indebtedness secured hy this Mortgage.
12. Rea~edks Ctimulathe. All nmedies 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 successivcly. `
13. Soccessors and A~ ~u~: Joint aad Sereral I.iabiiity; CapHoos- The covenants and ag~eements herein ~
contained shall bind. and the rilthts hercunder shall inure to. the rapective successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All rnvenants and agreements of Borrower shall be joint and xveral.
The captions and headings of the paragraphs of this Mortgage an for convenience only and are not to be used to
interpret or define the provisions hercof. ~
14. Notice. Except for any notice requised under applicable law to be given in another raanner. (a) any notice to ~
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mai) 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 ~
j (b) any notice to Lender shall be given by certified mail, rctum receipt rcquesteii, to I.ender's address stated hercin or to ~
such other addrcss as Lender may designate by notice to Borr+ower as providtd herein. Any notice provided for in this ~
Mortgage shall be dcemed to have been given to Borrower or Lender when given in the manner designated herein•
' 15. Uniform Mortga~e: Go~ernia~ Ia~w; Severabtlity. 'T7~is 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. 'il?is Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
event that any pcovision or clause of this Mortgage or the Note conflicts with applicabk law, such conflict shal) not affect ~
othe~ provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this ~
end the provisions of the Mortgage and the Note are declared to be stverable. ~
16. Sorrnwer'a Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time _ ~
of exceution or after rocordation hereof. `
rt of the Pro rt or an interest therein is sold or transferred
. If all or an a p~ Y
17. ~Yansfer of t6e Pr4 rty: A~umption Y P
P~ ~
by Borrower without Lender s prior writte~ consent, excluding (a) the creation ~of a lien or encumbrance subordinate to ~
this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise. ;
descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of thrce yesrs or less
not rnntaining an option to purchase. Lender may, at Lender s option. declare all the sums secured by this Mortgage to be
i immediately due and payable. I.ender shall have waived such option to accelerate if. prior to the sak or transfer. Lender
and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to I.endcr and that the intercst payable on the sums secured by this Mortgage shall be at such rate as I.ender
shall roqu~st. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower
s successor in
interat.has eaecuted s written assumption agrcement accepted in writing by Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note. ~
If Lender exercises such option to accelerate. Lender shall mail Borrower notice of accekration in accordance with
paragraph 14 heroof. Such notice shall provide a period of not less than 30 days from the date the notice is mailod within
~ 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 notict or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof•
Nor?-Ux~FORM Covex~rrrs. Bomower and Lender funher covenant and agree as follows:
18. Aecdentio~: Remcdks. Bscept as pro~ided io p~ra~ap~ 17 bereof. ~~we~s breacr of sey co.ena~t or
; a~reeo~eot oi Eorro..er is t6M 1Nor1~e. incladinL t6e co~eoaats to p~y whe~ doe aer soms recsred b~ thM Mortia~e, Le~de*
prior to scederatbe sbaH ma8 ootice to dorrower as pcovided fa ~un~rapU 14 6eteot ~ecN7~s (1)11~e 6resc6: (2) tb~ actbe
rcqaired b c~re wcti brac6: (3) a date, aot ks thsn 30 days trom tbe date the aMlce i~ wikd ~ t~~'O~otke ra restk ia
breacM meM be c~red: aod t6st fdlnre to cere soch breich oe or before tbe date ~ed
secekratbw ot t6e so~s iecrred by t6b MorKKe. foretlowre ~ jadicia~ ~c~dioL asi a~e ~ t~e trupert7. 'l~e ootke
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s6ag fort6er htorm dorrower ot tl~e rlsbt to rei~tate dter secekrstloa awd tre ri~Yt b are~t h tie foredowi'e proe~
ttie ~o~ezieteece o[ s detaak or sr otber defease of eorrower to sceekr~tlon aod torecfosore. if tbe breacY i~ oot c~ca on
i or bdors tbe dale spec~e~ is tbe sotice, Leeder N i.eeder's o~tfos ~oap dechn ~Y ot tbe s~as rec~rea lp t6is 1blorl~a~e b be
imeted~dr aue asi ~able witi~o~t Enrt6er deesaa~ aed ma~' forecbse t6N Mort~e b~' j~dicial N~ee~ ~~a°
~ be eaHNed to coUed i~ s~ proc~ ~ espe~ ot foreclosrre. iselodiot. bM sot tiwdted to, Ka~o~abk aKo~ee7'~ t~.
; a~d cosb ot doe~~e~hry eride~ce+ a6drscb aNd title repo~M. .
19. ~orwwds Ri~t to RebNate. Notarithstanding Lende~s acceleration of the sums sec~red bY th~s Mortgage.
; Borrower shall have the right to have any proceedings begun by Lender to enforcx th~ Mort~age discontinued at my time
~ a~3p7 ~ 547
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