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l.eo<kr'~ writtea aareaaeat or applicabb iaw. Don~ow~ ~haU pay the amount ot sp raott~s~e insuraaoe praniuan irt tbe ~
maane~ provided unde~ para~aph 2 hereof.
Any amountt disbuaed by [.ender pursuant to thL para~aph ..7. with inte~t thereon. dull becana additionsl
indebtcd~ss ot Bonowcr secured by thia Mortta~e. Unkss Bomower and L.en~ ~+oo to he~ terms ot papmeM. wd~
amounts shall be payabk upoe notice tmm [.ende~ to Bomower requestint p~yme~ ~to ~ shail bear iotetdt fran tha
date of disburoemeot at the rate payabk from time to time oe anstandin~ priocipd under the Note unless paymeat ~
interest at such nte would be contniry to applicabk law, in which event wch amoueb shall beu intenst at the hi~t ra~e
permis~'bk u~der applicabk law.. Nothing oomained in this paraaraph 7 shall require I.ender to incur any racpema or tate
any action hereunder.
i. I~eetk~. i.ender may make or caux to be made rcssonabk entries upon and inspoctions of the Pmpe~ry. pravided
. that i_eoder shall givr Borrower notice prior to any such ir~spection specifyina reasonabk cauae tharefor related to LandePs
intercst in the Property.
9. C~ The proceeds of any award o~ claim for damaga, diroct or oonsequential. in connection with any
cond~mnation or dhe~ taking of the Property. or part thercot, or for conveysnce in lieu of condemnation, ue hercby assiaued
and shall be paid to T.ender. ~
in the event of a tdal laking of the Propeny. ~he proceed: shall be applied to the sums secured by this Mortsaae,
with the escess. if any, paid to BoROw~er. In the event af a partial takina of the Property. unku Bomower and I~ender
otherwise sgee in writing. ther+e shall be applied to the sums sxured by this Mortaage sud~ pt~oportion of the pt+ooeeds ,
as is equal to that pwporlion v~rhich the amount of the sums securcd by this Mortgage immodiately prior to the date of
takina bears to the fair market value of the Property immediately prior to the date o~ taking, with the balanoe of the proceeds
paid to Boroower.
If the Property is abandoned by Borrower, or if, after notice by Lender to Bomower that the condemnor offen to malce
an award or settk a claim tor damaga. Bc~rn~wer fails ta respond ta I_ender withi~ 30 days after the date such notice is
maikd. Leoder is authorizcd to collect and apply the proceeds. at I.ender's option. either to ratoration or repair of the
PropeNy or to the sums securcd by this Martgalee.
Unless Lender and Borrowe~ othervvice agree in writing, any such applicatian of proceeds to principal shall not extend
or pcutpone the due date of the monthly inslallments referrcd to in paragraphs 1 and 2 hereof or change the amount of
such installments.
lA. Eorrower Not Reka~ed. Extension of the time for payment or modiflcation of amortization of the sums socurcd
by this MoNgage gn~~ted by I.ender ta any cuccecsor in interest of Borrower shall not operate to rekase, in any manner.
the liability of the original Borrovrer and Borrower'~ si~ccessnrs in interest. Lender shail not be requircd to commence
proceedings agair~st such successor or rcfuse to extend time for payment or otherwise modify amortization of the sums
securcd by this Mortgage by reason of_ any demand made by Ihe oriRinal Borrower and Bc?rrower's u~cc~ssors in imerect.
tt. Rorbearaoce h~ Le~der NM a Wai~er. Any fnrfiearance by l.ender in exercising any right or remedy hereunder, or
othe~wise .at~ordod by applicabk Iaw. shall not be a waiver of or proclude the exercise of any such right or nmedy.
The pmctvement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of I.ender's
~ right to accelerate the maturity of the indebtedneu securcd hy this Mortgage.
12. Re~nedies Cmeolat~c. All rcmedies pmvided in this Mortgage arc distinct and cumulative to any other right or .
rcmedy.under this Mortgage or afforded by Iaw or equily. and may be exercised concurrently, independenily or successiveiy.
- ' 13. Sreca~ors aad A~~s Eound; Jdet sad Se~erd t.i~; Captloos. The covenants and agreements herein
contained shall bind, a~d the rights hercunder shall inure to. the respective successors and assigns of Lender at~d Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agrcements of Borrower shall be jcun? and several.
The captions and headings of the paragraph~ of this Mortgage arc for convenience only and aro not to bc used to
interpret or define tlie provisions hereaf.
14. Notice. Except for any notice rcqoired under applicable law to be given in anothar manner. (a) any notice to
Borrower provided for in this Mortga~te shal) be given by mailing such notice by certifled mail addressed to Borrower at
the Property Addttss or at such dher addrcs.c as Bormwer may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall he given by certified mail, retum receipt requested, to L.ender s address stated herein or to
; such other address as Lender may designate by ru~tice la Bormwer as provided hercin. Any notice provided for in this
i Mortgage shall be deemed to have lieen given to $orrower or Lender when given in the manner designated hercin.
~ 1S. Ueifw~e~ MoA~a~e; Go~ernln~ Lavr: SerenbilNy. This form of mottgage combina ~miform covenants for national
~ use and non-uniform covenan~s with limited variations h~ jurisdiction to constitute a uniform security instrament wvering
~ nal property. This Mortgage shall be governed hy the law of the jurisdiation in which the Property is located. In the
event that any provision or elause of thic Mortgage or the Note conflicts with applicabk law, such confliet shall not aftect
! other provisions of this Mortgage or the Note which can be given effect wi~hout the .-.onflicting provision, and to ihis
end the provisions of the Morigage and the Note are Jeclared to be severable.
~ I6. Dorrowe~'s Copy. Borrower shall bc furnished a conformed copy of the Note and of this Mortgage at the time
~ of execution or after recordation hercof.
17. Tramfer of tre Property; Assnmption. if all or any part of the Property or an intercst therein is sold or transferred
by Bonower without L.ender'a prior wrincn consent. excluding (al the creation of a lien or encumbrance subordinate to -
this Mortgage. (b) the creat~on of a purchace money ~ecurity interest for household applianca. (c) a traasfer hy devise,
descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interat of threc ycars or less
not containing an option to purchase, Lendtr may, at Lender c option, declare all the sums securcd by this Mortgage to be
immediatoly due and payable. Lender shall have waived such option to accelorate if, prior to the ca{e or transfer, i_ender
and the person to whom the Property ic to be co1J or transterred reach agreement in writing that the crcdit of wch percon
is satisfactory to Lender and that the interr~t payable on the sums secured by this Mortgage shall be at such rate ac I_ender
shall roquest. if Lendcr hu waived the option to accelerate provided in this paragraph 17, and if Borrower's succasor in
interest hu exceuted a written assumption agreement 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 accordancr u•~th
paragraph 14 heroof. Such notice shall provide a period of no~ less than 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of cuch period.
F Lender may, without funher notice or demand on Borrower, invoke any rcmedia permitted by paragraph 1R hereof.
~ Nor+-Urv~FORM CoveN~~wrs. Borrower and Lender further covenant and agree u follows:
~ 18. Accdcratlo~ Res~edia. E:cept as prorided is para~~ 1~ hereot. epo~ Do~rowe~'s breacl~ of s~y coresast or
~ a~reaneN of Eorrower is t1~is Mat~ate, lwcludi~ tbe co~ewsnls to psy w6ew d~e say sems secrred by t6k Mort~aRe. I.cwdcr
prior to sccelerstlo~ sbad a~ail woHce to dorrower as pro~fded ie ~a{rapl~ 14 bereof specN~: (1) tbe br+escb: (Il tbe sction
~ required b cu+e wc~ Mesc6: (3) a dat~. not kss thau 30 days irnm the datt tl~e sotke is w~ikd to dorrower. bp whkh srcM
~ breacb ~nrt be crred: nd (4) t1~M faNon to core sach breac~ o~ or retw~e tl~e date speci~ed b tAe wotke aay resnlt is
s accekrdioa ot t6e wss ucYrrd by thk Mo~a~e. to~e~iosurr ~ h~dicial M~oceed[~ a~d ~ale of tbe Prope~. 'fbe wotke
~ sbap furtber faforw ~on~ower ot ire ~iLW to reiasbte sfter sccek~tios ssd tre ri~Mt b awcrt is N~e toreclosre~e ~roeeedi~
tie son-exWeece ot a defaWt or ~y otAer detewse of Eorrower to sccekrNba asd toreclosors. N H~e breac~ b sot cored os ~
or betorr tUe da~ speci8d ia tre sotke. l.ender at I.ender's optios way declare s/ ot tMe soes seesred by tAis Mort~aRe to be
imwediately due aad psysbk witboot fnAber demand and may forccbse this Mort~e ~ jod~ci~l Ltnder chall
~ be atided to co8ect 6~ s~ proeesdia6 d e:penses of fweclosrre. iacl~q. brt ~ot Wiitd to. r+erso~abie sta,rney's fea.
sed oods af ~ioeu~e~tarp ~rid~~ce+ abdr~cb aad litk rcports.
1~. ~ru~.a~'s Ri~f to Rei~late. Nc~twiths~anding Lender
s acceleration of the sums securcd by ~his M~rtgage.
Borrower shall have the right to have any proceedin~.s Megun hy I_ender to enforce this Mongage discontinued at any time
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