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Lender's written agreement ot. applicable law. Borrower altall(pay the aistdtrnt of all mortgage iasuraaoe ptemiutra in tla
manner provided under paragraph 2 hetreof.
` Any amounts disbursed by Lender pursuant to this paragraph 7. with interest thereat, shall become additional
indebtedness of Borrovrer sxurred by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such t
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof. and shall bear interest ft~om the s
date of divsrsernent at the rate payable from time to time on alt:landing principal under the Note unless paytaent of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
permiaaibk under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any experae or take
any aMion hereunder.
g. laspectiow. Lender may make or cause to be made reasonable entries upon and inspections of the Property. provided {
that i.ender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Leader's
interest in the Property.
9. C~ The proceeds of any award or claim for damages, direct or rnnsequential, in connection with any
condemnaton or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. _strt{ hereby assigned `
and shall be paid to Lender. ~ j
in the event of a total taking of the Property. the pra:eeds shall be applied to the sums secured by this Mortgage,
with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
otherwise agree in writing, there shall be applied to the sums scarred by this Mortgage such proportion of the pt~oceeds
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 the fair market value of the Properly immediately prior to the date of taking, with the balance of the proceeds •
paid to 13ortvwer. ~ j
If the Property is abandoned by Borrower, or if. after notice by tender to Borrower that the condemnor offers to make j
an award or settle a claim for damages. Borrower fails to respond to 1_ender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds, at bender's option, either to restoration or repair of the l
Properly or to the sums secured by this Mortgage.
Unleas i_ender 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 paragraphs 1 and 2 het+eof or change the amount of
• such installments. -
10. borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured s
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrowers successors in interest. lender shall not be r+equitrd t~ commence
proceedings against such strecessor or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers srtccessors in interest.
ll. Forbearance by lender Not a Waiver. Any forhearancc by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law. shall not be a waiver o[ 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 i_ender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
lZ. Remedies Cmm~lative. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
' 13. Successors and Assigns Bound:.Joint and Several i.iabiBty; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender attd Borrower.
subject to the provisions of paragraph 17 hereof.. All covenants and agreements of Borrower shall be joiry and several.
The captions and headings of the paragraphs of Chic Mortgage are for convenience only and are not to be used to Y
interpret or define the provisions hereof.
14. Notice. Except for any notice rcyuircd under applicable law to be given in another manner. (a) any notice to
Borrower provided for in this Mortgage shall he given by 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 Lender as provided herein, and
(b) any notice to Lender shall be given by certified mail, return receipt requested. to Lenders address stated herein or to )
such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this ;
Mortgage shall be deemed to have teen gis•en to Borrower or lender when given in the manner designated herein. (
IS. Uniform Mortgage; Governing LaN: Sererability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
real 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 Mortgaec ~r the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Nola which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Nate arc declared to he severable.
16. borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. Transfer of the Property: Assumption. If alf or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (a1 the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase mnney security interest for household appliances, (c) a transfer by devise,
descent or by operation of law upon the death of a ii:int tenant or (d) the grant of any leasehold interest of three years or less
not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have w:riscd such option to accelerate if, prior to the sale or transfer, i_ender
and the person to whom the Property is to be :o1J ar transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable nn the sums secured by this Mortgage shall be at snch rate as 1_ender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if .Borrower's successor in
interest has executed a written assumption agreement accepted in writing by finder, Lender shall release Borrower from all
obligations under this Mortgage and the Note.
If Lender exercises .such option to accelerate, tender 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 sums prior to the expiration of such period,
Lender may, without further notice or demand nn Borrower, invoke any remedies permitted by paragraph 1R hereof.
Note-l1NIFOttM CoveruNTS. Borrower and lender further covenant and agree as follows:
18. Accderstbn; Remedies. Except as provided in paragraph 17 hereof. upon botrrower's breach of guy rnrenant or
agreement of borrower is this Mortgage, including the cotenants. to pay whew due any sums secured by this Mortgage. Leader
prbr to acceleration shall mail notke to borrower as provided in paragraph 14 hereof specifyiug: (1) the breach: (2) the adios
required to care sueli breach; (3) a date, not less than 30 days from the date the notke la mailed to borrower, by whkh such
breach mtnt be crated; and (4) that tailrace to cnrc snch breach on or before the date specified is the ratke may result is
scedersition of the sears stcnrrd by this Mortgage. foreclosure by jndkial proceeding ~d sale of the Property. The notke j
sha8 further inform borrower of the right to reinstate after acceleration and the right to assert iw the forecbsnre proceeding ~
ttse non-existence of a defank or gay other defense of Borrower to acceleration and foreclosure. It the brracb is rat cnr+cd o0
or before the date specified io the notke. Lender at Lenders optan may declare ap of the sonar secured by this Mortgage b be
immediately due :ad payable without further demand and may foreclose thk Mortgage by jadlcial proceeding. fender shall
be entitled to collect iA such proceeding aN expenses of foreclosnro, including, but not limited to. treasonable attnrnev's fees.
and costs of docrroentary evidence, abstracts and tick reports.
19. borrower's Right to Reiastatt. Notwithstanding lenders acceleration of the sums se:uted by thr• Mortgage, _
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any tune
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