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l.eader's written agrceanent or applicabie {aw. BoROwer sha11 pay the amouM of all mortjaje idsutanoe premiums in the
manner providcd under parag~aph 2 hereof. , j ~ `
An :mounts disbu~sed b Lende~ ~
Y y purswnt to thi~ pangnph 7., with iatetest theroon. sl~all become sdditional ~
indebtodness of Hor~owc~ secured by this Mongage. Unless Bonowe~ and I.eoder aaree to othe~ terms of payment, such ?
amounts shall be payabk upon naticc from l.ender to Borrower roquesting payment thereof, and shall bear intereat f~+aa the
date of disbursement at the ratc payabk from time to time on aitstanding priocipal under the Note unless payn~t of
interest at such nte would be contrary to applicable law, in which event such amount: shall bear interest at the hiahest nte
permissibk under applicabk law. Nothing cootainod in this paragaph l shall rcquice Lender to incur any expecue or take
aoy action hereuader. ~
S. laspectio~. I.eoder may make or cause to be made reasonabk entries upon and i~spections ot the Property. pmvided ~
that i_e~der shall give Bprrower notice prior ta a~y such inspectio~ specifying rcasonabk cause therefar rclatod to I.a~ders
interest in the Property. ,
9. Co~dee~aafiow. The proceeds af any award or claim for damages, direcl or consequential, ie connection with any
condemnation or other taking of the Property, or paR tl~errnf, or for ronveyance in lieu of condemnation. are hereby assigned
and shall be paid ro l.ende~.
I~ the event of a total taking of the Propeny. the proceeds shall be applied to the sums securcd by this Mortaage,
with the excess, if any, paid to Bonowcr. In the event af a partial takiag of the Property. unkss Borrower and Lender s
o~herwise agree in writing, therc shall be applied ta the sums securcd by ihis Mongage such prnportion of the prooeeds
as is equal ta that proportion w~hich the amount ~f the sumc sec~ired by this MoKgage immediately prior to the date of
taking bears to the fair market value of the Propcny immediately priar to the date of taking, with the balance of the pr+ocuds
paid to Borrower.
if the Property is al~andoncd by Bor:owe~. or if. afte~ notice by I_ender to Borrower ttiat the condemnor oRers ~to maite ~
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an award nr settk a claim for damages. Bc~rmwer f~il~ ro respond to Lender within 30 days after the date such notice is
mailed. Lender ic authorized to collect and apply the proceeds, at l.ender's option, either to restoration or r+epair of the ~ -
Prope:ty or to the sums sccurcd hy this Mort~tage.
L'nlesc I.ender and Borrower olhervvise agrce in w•riting. aoy such application of proceeds to principal shal) not extend
or postpone the due date of the m~nthly installments rcterred to in parag~aphs 1 and 2 hereof or change the amount of ~
such installments.
10. Bormwer Nol Rekased. Extension of the time far payment or modiflcation of amortization of the sums secured
by this Mortgage granted by I.ender to any auccessor in interest of Borrower shall not operate to rclease, in, any manner.
the liability of Ihe original Borcowe~ and Bo~rower'c si~ccessors in interest. Lender shall not be required to commence
proce~dings against such successor or refuse t~ ertend time for payment or othen+rix modify amortization of ~he ~ums
secured by this Mortgage by reason of any demand made b~ the original Bomower and Borrower's successors in intercst.
11. Forbearsnce 6y Lender Not a Waiver. Any f~rhearance by 1_ender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall n~t be a waiver of or proclude the exercise of any such right or rcmedy.
The procorement of insurance or the payment af taxes or other liens or charges by Lender shal) not be a waiver of Lender's
right to accelerate the maturity of the indehtedness cecured hy. this Mortgage.
12. Remedies Cumulati~e. All remedies provided in this Mortgage _are distinct and cumulative to any other right or
rcmeciy under this Mortgage or afforded hy law or equity, and may be exercised concurrcntly, independently or successively.
~ 13. Saccessors and Assi~~s Bound; .loint and Sereral i.iaM7ity; Csptlons. The covenants and ag~eements herein
contained shall bind, and the riRhts hereunder shall inure to. the respective successors and assi~ns of Lender ac~d Borrower.
subject to the provisionc of paragraph 17 hercof. All covcnants and agreements of Borrower shall be joir~ and several.
'i~e captions and headings of ~he paraeraphc of thic Mortgage are for convenience only .and are not to be used to
interpret or de6ne the provisions herec?f. ~
14. Notice. Ezcept for any notice required under applicable law to be given in another manner, (a) any notice ta
Borrower provided for in this Mortga¢e shal! be given hy 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 given by certified mail. retum receipt rcquested. to t.enders address stated herein or to
such other addras as Lender may deci¢nate b~ nc~tice to Bormwer as provided herein. Any notice provided for in this
Mortgage shall be deemed lo have been gi~~en to Bc~rrower or Lender when given in the manner designated herein.
1S. Uniform Mort~a~e; Covernin~ iar.: Severabilit~~. This form of mortgage combines uniform covenants for national
~ use and non-uniform covenan~c with limited variations by jurisdiction to constit~rte a uniform security instrument covering
j real property. "i?~is Mortgage shall be governed hv the law of the jurisdiction in which the Property is located. In the
~ event that any provision or clauce of thic Mortgage or the hote conflicts with applicable law, such con6ict shall not affect
other provisions of this Mortgage or the N~~tr which can be given efiect without the conflicting provision, and to thu
` end the provisions of the Mortgage and the Note arc ~kclared to be severable.
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16. dorrower's Copy. Borrower shall bc furni~hed a conformed cop~- of the Note and of this Mortgage at the time
~ of execution or after recordation hereof.
; 17. Tnnsfer of tbe Propertv: Assumption. If ali or any part of the Pmperty or an interest therein is sold or transferred
~ by Borrower without Lender
s prior wria~v~ consent. excluding (al the creation of a lien or encumbrance subordinate to
g this Mortgage. (b) the creatux~ of a purchace me•ne~• cecurity inlerest for household appliances, (ci a transfer hy devise.
~ descent or by operation of law upon the ekath of a joim tenant or (d~ the grant of any leasehold interest of thrcc ycars or less
~ not containing an option to purchase, [.ender may, at l.ender's option, declare all the sums secured by this Mortgage to !+e
~ imm~diately due and payable. t_cnder chall have Nai~•ed such option to accelerate if, prior to the sale or tr~nsfer. 1_enJer
g and the person to whom the Property ic ta be :oIJ or transferred reach agrcement in writing that the credit ~f wch person
~ is satisfactory to Lenckr and that the interr.t payable on the sums secured by this Mortgage shall be at soch rate ac l_ender
~ shall request_ If 1_ender has waived the op~ion to accelerate provided in this paragraph 17, and if Borrower s successor in
~ interut has executed a written assumption a~reement accepted in writing by Lender, Lender shall release Borrower from all
3 obligations under this Mortgage and the Ncue.
~ if I_ender exercixs such option to accelerate. I.enJer chall mail Borrower notice of acceleration in accordancr ~+~~fi
~ paragraph 14 hereof. Such notice shall provide a period of not las than 30 days from the date the notice is mailed vvithin
; which Borrower may pay the sums declared due_ If Borrower fails ro pay such siims prior to the expiration of ~uch period.
~ Lender may, without further notice or demand on iiorrower. +nvoke any remedia permitted by paragraph IR hereof.
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Nori-UrnFaetH CoveN~rrTS_ Borrower and l.ender tunher covenant and agrce u follows:
~ 18. Accekratioa; Remedia. Except as provided in psra~rapb 17 herwf. upoe Eorruwer'~ brrscb of aay co~eoant or
asreemeet of Eorrower io t6k Mo~s~e, includlr~ tLe corenants to pay whe~ dee ~uy sams sec~red by thLs MortRa~e. Leader
r prior to accNcntioo shaN a~l nolice to Eomowe~ as provided ia pan~rap6 hereot specNylo`: (1) the Mrsch: (2) the action
~ required to cro socb bnach; (3) a dNe. not less than 30 days tmra tbe date the aMke 4 maNed to Eorrower. by ~r6ich such
~ breach moat be cered; asd (4) thsM failure to cure sach breacb ow or before tbe date spcei6ed in tbe notice may resWt in
q seeekratio~ of t6e s~ms secured by q~is Mort~e, to?ecbsurr br judicW proceedins ana sak of tbe Prope~ty. 71~e notice
j shal! furlber inform Eorrower of tbe ri~hl to reinstatt aftcr xcckrstba aad tbe ri`bt to ~sert is the foreclosuro proceedi~
~ t6e aomexisteece of a defuk or asr other detense ot Borroaer to sccekratios and foreclosore. lf tbe bre~cl~ is not cored os
~ or before the dste speri6e~ ia tbe notke. Lender ~t I.ender's option n~ay declare dl ot tbe wms seerred by tbk MortRaRe to be
immrdiatdy due aaa psyabk wifhoot further demand ~nd may forrclost thk Mo~a~t 6y fudicid proctedi~. i.ender chall
~ be snAtled to collect ie socr proceediu~ all e:penses oi forcclosurs, inclndio~, b~f ~ot lidted to. rearons6le attnrnev's fees,
~ aod costs ot ~ioc~~eahrr trWeece. abstrscts aad litk reports.
~ 19. Sorrowe~'s Rl~t b Re~tate. Notwithuanding l.enders accekration of the sums secured by th~~ M~ngage.
Borrower shall have the right to have any procecdings be~~m ny I.ender to enforce this Mortgage discontinued at any time
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