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Leir~kr's written agreement or applicable burr; iorrowee;`sAep the amount o[ all mortgage insurance ptzmiums io the 1
manner provided under paragraph 2 hereof, '
Any amounts disbursed by Lender purswnt to this paragraph 7, with interest thereon. shall become additional
' ~ indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
amounts shall be payable upon native from lender to Borrower roquesting payment thereof, and shall bear interest ftnra the
"date of disbursement at the me payable from time to time on art:tending principal under the Note unless payntatt of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the hig#rest rats
permiaibk under applicable law. Nothing contacted in this paragraph 7 shall require Lender to incur any expense of take
any action hereunder.
iagectYa. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Larder's
interest in the Property.
9. Cowdewralkw, The proceeds of any award or claim for dsmsges, direct or consequential. in connection with arty
condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation. are hereby saigrred
turd shall be paid to Lender.
in the event of a taut taking of the Property. the proceeds chaff be applied to the sums secured by this Mortgage.
with the excess, if any, paid to Borrawtr. In the event of a partial taking of the Property. unless Borrower and Leoder - ,
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage such proportion of the gooeeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
taking bears to tht tact market value of the Property immediately. prior to the date of taking, with the balance of the prooeals
paid to Borrower. - ~ .
if the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor often to make
an award ar settle a claim for damages, Harrower fails to respond to Lender within 30 days after the date such notice Y
mailed, Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair o[ rite
- Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in parsgnphs 1 and 2 hereof or change the amount of -
such installments. -
itl. Borrower Not Rekaaed. Extension of the time for payment or modifkation of amortization of the aunts secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not ope?ate to release, in any manner.
the liability of the original Borrower and 8e~rrower
s successors in interest. Lender shall not be required to commence
proceedings against such successor or refute to extend time for payment or otherwise modify amortiution of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. Rorrearaact r7 bender Not a WaWer. Any fc+rbesrarrce by Lender in exercising any right or remedy hergtmder, or
otherwise afforded by applicable Isw, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to acceknte the maturity of the indebtedness sectrrtd by this Mortgage.
12. Rerwedks Cwwrrhtlre. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or aRorded by law or equity, and may be exercised concurrently, independently or suceusively.
' 1~. Stccessors awd AssiRrts Sonrtd; Jdat and Several i.hbilfly; Csptltas. The covenaab and agreements herein
contained shall bind. and the rights hereunder shall inuug to. the.respective successors and assigns of Lender and Borrowrr.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joitd and several.
The captions' and headings of the paragraphs of this Mortgage are for rnnvenience only and are not to lie used to
interpret or define the provisions herrnf.
1~. Notice. Except for any notice required under applicable law to be given in soother manner, (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other addrcsc as Borrower may designate by notice to i.ender as provided herein,. and
(b) any notice to Lender shall tx given by certified mail, return receipt requested. to Lender's address stated herein or to
such other address as Lender may designate by native to Borrower as provided herein. Any nottce provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
IS. Uwiforas Mortgage: Govent~ La.r; Severability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to eortstitute a uniform security instrument covering
re:> property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the .
event that any provision or clause of this Mortgage ar the Note conflicts with applicable law, such conflict shall not alkct
other provisions of this Mortgage or the Note which can be given eBect without the conflicting provision. and to this
end. the provisions of the Mortgage and the Note arc Declared to be severable.
lf. lorrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
o[ execution or after recordation hereof.
17..Traasfer of ere >rro'etty; Aswatptiow. if all or any part-of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior wriitrcn consent. excluding (al the ct+eation of a lien or encumbrance subordinate to
this Mortgage, tb) the creation of a purchaa 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 three years or less -
not containing an option to purchase, Leader may, at Lender's option, declruY all the Burns secured by this Mortgage to be
immediately due and payable. Lender shall have waived arch option to accelerate if, prior to the Bak 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 Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in
. interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
oblisations under this Mortgage and the Note.
If Lender exercaes such option to acceerote, Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not 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 srtms prior to the expiration of such period,
Lender may. without further reflex or demand on Borrower, invoke any remedies permitted by paragraph lg hereof.
NoN-UHtt=otrn[ Covt=.tvetwrs. Borrower and Lender further covenant and agree ss follows:
li. Acaxkti~ Rerwedks. Faccep as provYed lw Mragrapr 17 tercet, ~ ~osre..er's rreacr a< arty n~es~N K
agroemeat of •errower Y? IrY Malgage. iwersaia~ ere eo+ea+aMs to Mr wrea lrre awy soars secassr r7' trY Mort~sge. Lewder
prior N ara~sieratlow dell waN aotke to lorrower as trovldcr i. 14 tercet spcelt~r tl) ere rr+eaer; t2) ere scttew
rregtried b can stsefr M+eaelq t3) w ~ veal less tray 3t flays trove ere +ate ere wodce Y raced N ~orrewer. h wrkr seer
rnarclt mast re etwt$ gall (4) trot taBwe N can veer crest a ar refore ere date speeYed r ere sotioe gay nsaM Y?
aceeksatfow at ere arses aeeurei h7' trY Mortgage. /aedosan h jrrAkW p~oeseria~g sal Bak of ere h~erry. 71te watiee
srs+M tarlrer Wecrrr liotrvwer of ere riRM b nirtsMe after s+cceleratiow gad ere MgM b arrert M ere foreelasare preeee~ttg
ere r~otr-s:Mtact of a iefaalt or am otter iefeasc of lsorrower to sccekraliea awl fiReelowne. It ere Meser Y got cw~si M
ar heron ere dote geeiAei i• tre wolke. Lewder at Leader's o'tlow way dselan r d !re arras ssewr~si h ttrY Mortgagewire
tarwediateiy doe sari Mysrk r.ifroat.twrtrtr dta?ana gad Wray tonelae tYs Mesitage y jaikW / Lender daN
be ewtldea a eoiteet fr srrcr pteetdiag sfl esptwses of torecbswt. twelaif~. ctrl ¦at ~tittd lo. reasaaark stturaeYs Eta.
awl gals at ioe~tnsetstary eviaeace. arsteaets arri tick repro.
i!. Mrtowes's Rlgitt N Refaststt~ Notwithstanding Lrnders socekration of the sums secured by thn Mortgage,
Borrower shall have the right to have any proceedings begun hY Lender to enfora this Mortgage discontinued at any time
BnoK~~'t PAGE1259
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