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. l.enckr's written :~grcemcnt ar appGcabk law. Botrowe~ sha11 pay the amount of rll mohgage insurance pcemiums in the
manner provideJ unde~ paragraph 2 he~of. .
Any amouMS disbursed by 1.Cncler pursua~t to lhia paragraph 7, with intcrest IherecM, shall bccame addition.i '
indebtedness af Bor~ower socut~ed by lhis Mortgage. Unlecs Borrower and I_e~Jer agree to other ttrnns o( payment, xuch {
amountc shall be payabk upoo notice from [.ende~ to Borrower requesting paymeot thereot, and chall hea~ interost from the
date of disbursement at the ratc payahk from time to lime on outstanding principal under thc Note unless payme~t ot ~
ioterest~ at such rate would be contrary ~o applicable law, in which event such amounts shall bcar interest at the highest rate
permissible unde~ applicabk law. Nothing cantaineJ in this paragraph 7 shall rcquire I.ender to incur any expenx or taice
any action hereunder.
lospectbe, l.cnder may makc o~ cause to bc made reasonable cotrics upon and inspections of the Ptopcrty, provided ~
that l.ender shall give Botrawer nolice prior to any such inspection specifying rcasonabk cause therefor related to Lender's ~
imercct in the Propcrty. '
9. Condemastba. The p~oceeds of any award or claim for damages, direct or canuquential, in connectan with any i
condemnation or other taking of the Property, or part tl~ercof, or for ccx~veya~ce in lieu of condemnation, are hereby assigned '
and s,~all be paid to I.ender.
in thc evcnt of a total taking of thc Pmpeny. ~he prcxeeds chall t~e applied to ~he sums secured by this Mortgage.
with the excess, if any, paid to Borrower. ln thc event of a partial taking at the Property. unless Borrower and L.ender
o~herwise agree in writing. there shall be applied to the sums secured hy this Mortgage such proportion of the proceeds
as is equal to that proportion w•hich ~he amo~~nt ~.f ~he sumc secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Property immediately prior to ihe Jate af taking, with the balance of the proceeds ~
paid to Borrower.
if the Property is abandoned by Bor:ower. or if. a(ter nMice by I.ender ta Bo?mwe~ that ihe condemnor ofiers to make
an award or setNe a claim for damagc~. A~•rrower faik to res~nd !o t_ender within 30 days after the dale such notice is
mailed. i_enJer ic atdhorized to collect ated appl}~ ~he prc~ceeds. at I.ender's option, either to restoration or rtpair of the
Pro~eri~• c,r to the sum~ sccured b~• thi~ M~r~gace.
Unless Lender and Bormwer othervvice agree in wrihne. am• such application of prckeeds to ptincipal shal) not extend
or pcx.!pcinc the due date of thc Momhl~~ installmcmc rcferrcd to in paragraphc 1 and 2 hereof or change the amoont of
~uch installment~.
10. Borrower Nof Releaced. Frtensian of Ihc lime for payment o~ modification of amortization of the sums secured
hy this Mort~age granted hy l ender !o any cuceecu~r in inter~~t of Borrowef ~hall not ope~ate to release, in any manner.
thc liability of the ori¢inal Borrower and Borro~+cr'. si~cres~rs in inte~est. l.ender chall not l~e required to rnmmenre
proceedings against such successor or refu~e to ertend time for payment or other~~ite modify amortizat~on of thr v~ms
~ecured by ~hic Mottgage hy rea~e?n of anr demand m~de by the ariGinal Borr~?wer and Borrower s succectiors in in~cre~t.
11. Forbearance by I.ender Nuf a Wai~•er. Aoy f~rhearan.c h~• I.cnder in erercising any right or remedy here~mder, or
~therwise afTordeel hy applicable law. shall nM F: •r waiver of ~ir preclude the exercise of any such right or remedy.
The procureme~t of insurance or the payment of ta+cc~ or other liens or charges by t.ender ~hall not be a~•aiver of l.ender s
right ti~ accelerate the maturity of the indehtednecs ~curcd h~• thi~ Mortgage_
12. Remedies Cumulati~e. All remedies provided in thi~ Mortgage are distinct and cumulative to any ather right or
remedy under this Mor~gage or affordeJ hy law or equiry. anJ ma}• he exerciced rnncurrcmly, independently or suc~.ecsively.
~ 13. Successors and A~ns Bound:.Joint and Sereral I.iability; Captions. The covenants and agreemen~s herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of I_eoder ~d Borrower.
subject to the provisions of paragr•rph 17 herco(. All rnvcnants and agrerments of Borrower shall be joiry and ~everal.
The captions and htadingc of the paragraph~ ~f this Mortgage are for convenience only and are not to he uced to
interpret or define the pro~~isionc hereof_ ~
14. Notice. Except for any nolire rcyuired under applicable law to be given in another manner. (a) any notice to
&?rrower provided for in Ihic Mortga~e tihall be given hy mailinF such notice hy certified mail addretced to Bormwer at
the Propeny AJdress or at ~uch othrr addrcs. as Bc.rrow•er mav designate b}• notice ta i.ender as proviJed herein, and
j (h) ant• notice to Lender shall he gi~•cn by certified mail. rctum receipt requested. to l ender's addres~s slated herein or to
f such other address as I_ender may de~ignate hy n~tice ti~ Borrower as pro~•ided herein. Any notice pmvided for in this
j Nortgage shall be deemed ta have t+een g~vcn to Borrow~cr or 1_rnder w•hen given in thc manner detignated herein.
! IS. Uniform Mori~a~;e: CoverninR Iaw; Se.erability. Thic form of mongage combines uniform crnenantc for national
~ use and non-uniform co~enantc with limitcd variations hy juritdiction to rnnstitute a uniform security instrument covering
~ real propert~. This Mortg•rge shall be governed h~• the laa of the juricdicteon in which the Property is located. In the
~ event that any provision or clause of thiti M~rtgaec ~~r the Note rnnflictc Hith a~, licable law, such conflict shal! nol affect
other provisionc of this Mongage or the N~~tr ~hich ran be given efiect withoi:t the conflicting provicion, and to this
~ end the provisians of ~he Mortgagc and the 'Vrnr arc drrlared to he severable.
16. Borrower's Copy. Borrowe~ shall F+r forni.hcd conformed cop~ of thc Notc and of thi, Mortgage at the time
~ of execution or aftcr recordation hereof. -
~ 17. TrAasfer of the Propertv: Accumption. If aN ~r an}~ part of the Property or an interest therein ic snld or transferred
by Borrower without Lender's prior wrincn :unsent. exrluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b? the creation of purch~cc m~~nc~• kcurit}• interest for household appliances, Ic) a tran~fer hv devise.
descent or hy operation of law• upon the dcath of a jamt tenant or (dl the grant of any leasehold interest of thrce }•cars or less
not containing an option to purchase. I.ender may. :~t I.ender'~ option, declare aU ~he sums secured b~• this 1Nortgage to be
~ immediately due and pa~~able. Lrnder shall h~vc N;~ived wrh option to accelerate if. prior t~ the ~ale or transfer. I.ender
and the perso~ Io whom the Proper~~ i. t~~ tx .~IJ ~~r tr.insferred reach agreement in writing.that the credit of ~uch per~on
~ is satisfacton' ta I.ender and thal th~ imerr,t pa~~able on the st~mti secured by thic Mortgage chall be at sach rate a~ I.ender
~ shall request. If I.ender has waived the opti~~n to accelerate pmvided in this paragraph 17, and if Borrower ti tiuccessor in
~ interest has executed a written assumption a~reement accepted in a•riting by l.ender, l.ender thall release Borrow•er fmm all
~ obligations under this Mortgage and the Nrne.
~ If i.ender ezercites such option t~ accelerate, (.enJer ~hall mail Borrower notice of acceleration in accordancr ~~h
~ paragraph 14 hereof. Such notice shall provide a E+ericxi of n~t les~ than 30 days from the date-the notice is mailed wishin
~ which Borrua•er may pay the sums declare~ due. If Borrower fails to pay soch sumc prior to the expiration of auch ren~~d.
- Lender map_ with~ut further no~ice ar dcmand on Horrow~cr. invokc any remedies permitted hy paragraph 1R hercof. ~
Norv-UNiFORi?r CovEN~NTS. Bc~rrower and I.ender funher covenant and agree as follows:
~ 18. Acceleration; Remedia. Except as provided in paragnph 17 Aereof. npon Eorrowe~s breach of any co~enant or
agreemeaiof Boaower ie this Mortga~e. includir~ the covenants to pay whea dut any snms secored by thk Mort~a~e. I.ender
t; prior to acceleration shall msil notice to Borrower as provWed in para~rsph 14 hereof specityiuR: (1) tbe breach: 12/ the aNan
a~ requirrd to cure such breach; (3) a date. not less than 30 days fmm the dafe the notice ~S mailed to Bormwer. by vrhich such
- breac6 must 6e carcd; and (4) that failure to cure wch breach on or before thc datt specificd in the nolice may result in
~ accelerstion of the snms secured by this Mort~age. forec{osure by judicial proceedi~ and ssle of tbe Property. The notice
~F shall further inform Borro~+er of the riRM to reir~.ctate afler accekration and the right to assert in the foreclosure proceedfu~
- the non-e:istence of s defauN or any other defense of Borrower to sccderation an~ foreclown. lt the breach is aot cured on
~ or befon the date specified ia the notice. I.ender at I.ender's oplion may declsre aU of the sun~s secnred by this MoNgat;e to be
~ immediately due and Payabie wifhout furltier dem:ind and may forecloss tbis MortRa~e by judicial proceedlt~. t.ender chall
z be eodtled to colleet in such ProceedinR aN e:penses af foreclosure. inclndio~. bnt ~ot limited to, rcasonabk attornr:'s fees.
~ and costs ot wrco~uentary evideace, abstrscts and litk rcpoNs.
F 19. Eormwe~'s Ri6hf to Reiastate. Notwi~h~tand~ng I.ender's acceleration of the sums securcd by th~• M.~rtgage,
~ Borrower shall havt the right to have any procecd~n~s hcEun %.y I.ender ro enforce this Mortgage discontinued at an}~ time
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~ 3~~~~:31U yA~~ 414
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