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Lender's writteo agrame~t or applicabk law. Bo~rowe~ ~hall Qay the amount ot dl mortpae insuraaoe ptemiums ia tbe
manne~ provided unde~ paraaraph 2 hereof. -
A~y amounts disburscd by l.eode~ pursua~t to thit pangaph 7. wi~h iaterest thercon. shall become sdditional
indeblednas ot Bor~ower secured by this Mon~aje. Unless Borrowe~ and l.ender agrce to othe~ terms of paymea~. wch
amounts shall be payabk upoo ncwice frc~m I.ende~ to Bom~we~ roqueslina payment thercoL and shall bear intenst trom the
date ot d'nburseme~t at the ate payaMe fram time to time cxi amta~ding principal u~der the Note unkss pa~rtaa~t ot
interest at such rate would be contrary ~o applicabk law, in which event such amounts shall bea~ interost at the hi=l~eat ra~e
pernniuibk under applicabk law. Nothing contained in this paraa~aph 7 shall requi~e l.ende~ to incur any expea~ or tate
any actioe hercunder.
s. l~yecfie~, I.ender may make o~ cause to be madt reasonabk entries upon and inspections of the Property. provided
that Lender shall Rive Borrawer notice prior ta any such inspection specityina rcasonabk cause thenfor rclated to Ltnder't
interest in the Fropeny. ~
9. Co~de~a~stbw. The proceeds of any award or claim for damaga, direct or rnnsoquential. in connection with anr
condemnation or other taking of the Property, or pa~t thercof, or for conveyance in lieu of coodemnation, are he~eby aasifned
and shall be paid to Lender.
ln the avent of a tdal takina of the PropeMy, the proceeds chall be ~Pplitd to the sums xcurod by this Mat~aae.
with the excas, if any, paid to BoROwer. in thc event of a panial taking ot the Property. unlas Borr~ower and I.eeder
otherwise sgnx i~ writin~t. therc shall be applied to the sums seaired by this Mangage such propation of tha prooeeds .
as is eqwl to that propoRion which the amount of the sumc securcd by this Mo~taage immediately prior to the dale ot
tatina bean to the tair market value ot the Property immediately prior to the date of takina, with the balance of the pwceeds
paid to Borrower. ~
If the Property is al~andoned by Bor:ower, o~ if. after notice by I.e~der to Bornower that the condemnor oRe~s W mate
an award or settk a claim for damages. Be?rrrnver failx 1o mpond to Lender withio 30 days aftet ~the date such ~otiae is
~ maikd. I.ende~ is authorized to colkct and apply ~he proceeds. at i.ender's option, eithe~ to nstoration or ~epair ot tbe
Propeny or to the sums securcd by this Mon~tage.
Unless Lender and Borrower otherwi~e agrce in writing. any such applicatian of proceeds to principal shall not exta~d
or poslpone the due da~e ot the monthly inst~llments rcferrcd to in pangrsphs t and 2 hereof or chanae the amount o[
such installments.
~ lA. eorrower NM Rekascd. Extension of the time for payment or modi}kation of amortiution of the wms aa:uttd
by this Mo~tgage gnnted by Lenckr to any cuccecsor in interest of Borrower shall not ope~ate to reka~, in any manoer.
the liability ot the original Borrower and &?rrowcr'c successon in interost. Lender shall not be tequircd to comn~encx
proceedings agai~t such suocessor or rcfu~e to extend time tor payment or othervvise modify amortizatioo of the sums
securcd by this Mortgage by reason of ~ny demand made by the oriRinal Borrower a~ Borrower's wccesson in interest.
l1. Forbarasee 6y [.e.der Na a Wdver. Any forl~earance by l.ender in exercising any right or remedy heceimder. or
othervvise afiorded by applicabk law, shall not be a waiver of or prcclade the exercise of any such right or rernedy.
The procurement of insuranoe or the payment of taaes or other liens or charges by [.ender shall not be a waiver of Lsnde~'s
right to accelente the maturity of the indehtedness xecured hy this Mortgage.
l=. Re~eaies C`rweWi~e. All rcmedia provided in this Mortgage are dislinct and cumylative to any other riaht or
rcmedy under this Mortgage or afForded by law or equity, and may be eaercised concurrently, independently or succeasively.
' 13. S~cces~o~s a~ Asi~s Eowed: ,1oi~t s~d Seveal i.~: Csptioas. The covenants and agreemrnts 1~erein
contained shall bind, and the riRhts hercunder shall inur~ to. the.rcspective successors and assig~a of i.ender apd Bormvrer.
subject to the provisions of paragraph 1~ hercof. /111 covenants and agrcements of Borrower shall be joir~ and several•
The captions' and headings of the paragraphc of this Mortgage arc for rnnvenieoce only and are not to tSe used to
interprct or define the provisans herec~f. -
11. Notiee. Except for any nMice rcquircd unde~ applicable law to be given in another manner, (a) any ratice to
Borrower p~+ovided for in this Mortgalte shall be given by mailing such notice by certifled mail addressed to Borrower at
the Ptope~ty Address or at such dher address as Bormwer may designate by notice to T.ender u provided hercin, and
(b) any ratice to Leoder shall he given by certified mail, return ~eceipt requestod, to t.ender's addras stated hercin or to
such wher address as Lender may desianate by nc~tice to Borrower as provided hercin. Any notice provided for in this
Mongage shall be doemed to have been given to Bormwer or Lender whea given in the manner desianated herein.
ls. Uuttonw Mat~aRe: Go~erei~ I.~w: Se•ersbility. This form of mortgage combina uniform covenants for national
use and ran-uniform eovenants with limitec! variations by jurisdiction to con~itute a ueitorm axurity instrument ooverina
~k real property. This Mortgage shall be governed hy the law of the jurisdiction in which the Property u Iceated. In the _
; event that any provision or clause of thic Mortgage or the Note conAicts with applicabk law. such conflict ~ shall not atfect
other provisions of this Mortgage or the Note which can be given eBect without the oonflicting provision. and to this
end the provisions of the Mortgage and the Note arc Jeclarcd to be severabk.
lf. ~orrower's Co'y. Borrower shall be furniched a conform~d cop~• of the Note and of this Morigage at the time
; of execution or aRer rccordation hereof.
~ 17. .Trarter ot tre h~o'eefy; A~sna~ios. It all or any part of the Property or an inteRSt thercin is sold or transferred
' by Borrower without Lender's prior writtcn conxm. excluding lal the crcation of a lien or encumbrance wbordinate to
this Mortgage. (b) the crcatu~n of a E+urchace money ~ecurity int~rat for household appliances, (c) a tnnsfer hy devue.
daoeat or by operation of law upon the death of a joint tenant or (d) the grant of any kasehold interat of thrce ycars or kss
not containing an option to purchase, Lender may, at Lender
c option, declare all the sums xcured by thi: Mortgaae to be
immediately due and psyable. Lender shall have w••rived such option to accelerate if, prior to the cale or transfer. Ltoder
and the penon to whom the Property ic ~a be colJ or transferred rcach agreement in writin~ that the credit of such person
is:atisfactory to Lender and that the inter~~st payable on the sums securcd by this Mortgage shall be at such rate ac Lender
shall r+equest. if Cender has waivod the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interat hu executed a written assumption agreement accepted in writing by i.ender. I.ender shall rckase Borrower fram all
oblijations under this Mortgaae and the Note.
if Lender exercises such optioo to accelerate. Lender chall mail Borrower noticx of ucekntion in accordancti v?•~th
puasnph 14 hercof. Such notice shall provide a period of not. less than 30 days from the date the notice is maikd wi~hin
which Horrower may pay the wrtu declarod due. Tf Borro~ver fails to pay such sums prior to the expintion of cuch pericd,
~ I.ender may. without further notice or demand on Borrower. invoko any remedia permitted by paratnph lA hercc?f.
~ Na+•UHt~t~ Covet+~r+TS. Bomower and i.ender funher covenant and a~ree as fdlo+vs:
~ li. Aecekeado~: Re~edies. Facce~t a~ provNei b~ra~M 17 rereot. ~o~ ~o~»we~'s i~eae~ d a~ cs~e~rt K
~ ap~ee~e~t ot Mrr~wer 1~ tY~ Moel~a~e. ~ tre co~e~sNs to p~r wbes ~e aq s~s see~ y tY~ Mai~a~e. I.e~/er
~ wior t~.cnle~stlo..~.w.otke to ~on+~?er as *.o~Me~ M M.as~yM 1~ IKreor qeeltyl.s: (1) a~e rt~ach: (s? ere setb.
~ rq~ie~ a e~ weti ~eaek (3) ~ drle. ~ot las tl~a~ 3~ dsrs t~ t~e ~ate tre ~ottee r~aiei a 1en~swer. r!' .?~kU s~eY
~eae~ ...t ~e e.re~ a.~ N) ua~ hwK a e.re saew ke.c~ ow or ~et«e ~we are qeeMei i. ~~e .odee .ay ee~ r
~ aecelets8o~ ot ss a~s,eew~e~ by ur MoelfaRe, teKaiowrc b j~rdleW M'oessaMiL awi de af t~e rro~erry. 'tl~e wedes
~ t~ ido~ lonower at tre tiRIM to reh~ate fter seeekrado~ ~i tre ri~t Io aMer! b t6e toreeloant ~note~i~
~ Ire ~ow~e:Yeewee ot ~ ~efa~it or a~y other~~etcasc ot ~orrower to atceleratiow aw~ toreelow~e. H tre 1re~eM b~ot e~ee! a~
~ or bdae N~e laie qeeMei i~ tl~e ~otks. l.ew/er at l.ewae~'s o~tbw w~ ~ecl~re aM ot tMe wws ssen~[i i~ ffdr Mo~t Is re
i~w~eii~/el~ ~e ~.yaMc witl~oN r.r+Me. aea~aea a~a ~ roredo.e n~ Mafs~ b lyd+chl rhese+l~. Lenee. daM
~ ~e eMflki !o coietf 1~ a~ ~ a~ a~pe~ses ot forcclosrre. l~ebii~. wf ~et ~ M. ra~ow~Me sta,rnrv's fses.
a~i oMis ire.~~eMar7 srf/e~ee+ abrtr~cb ~wi litk rcprb.
1!. ~wa's R~IN t~.~erMaK. NawithstandinE Lender's accekntion of the sums sccured by ~h~~ M~nisje.
gorrower ahalt have the ri~ht to hsve any prceetdings hegun hy Lender to entorce this Mc+naa~e discontinued at any time
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~~~~K3~2 PA~E2682