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Lender's +crittcn agreement +~r applicable law. B++rn+wct shall pay the am.amt of all mori~~e insuran:esptt:miums in the
manner ~nwided under paragraph 2 hcreoF.
:\ns• am+umts di:hurscd h)~ 1 ender pur,uant t.+ Chic pararaph 7. ++ieh intcrcst thereon, shall hc:c+me addrtional
in+lchrednr,s of Rorru++cr se~urrd hs this ~1un~a~e. I nlr„ B.+rr++++er and I ender agree R~ other terms of paymcm. sui'h
:+motu?K ,hall 1?c payahlc ups+n n++ti.e fr+~m 1 ender to B,~rro++er rc+luc,tinc p.+~ment th~•re.•f. and sh:dl hear interest front the
,late of di,hurcemcnt at the rate pavahle fmm time to time rn outst:mdinc principal under the Notc unless payment of
interest at such rate would he contrary to applicahle la+v. in which event such amounts shall hear intered • t,~lwrhjgh~ttt rate
permissiMr under applicahle law. Nothing contained in this paragraph 7 chat) require 1 ender to incur a~• exptase or take
any action hereund+:r.
f3. Inspection. Lender may make or cause to he made reasonable entries upon and impcciions of the Propcm'. pmyided
that Lender shall give Bormwer notice prier to any such inspection specifying reasonable cause therefor related to lender's
interrct in the Property.
9, l: ondemnation. The proceed, of any award or claim for damages. direct or consequential. in rnnnection with am•
condemnation or other taking of the Property, or part thereof. ar for conveyance in lieu of condemnation, are hcrrM• assigned j
and shall t+c paid h~ Lender.
In the event of a total taking of the Property. the proceeds shall lx; applied to the sums secured M• this Tortgage.
with the excess, if any, paid to Burrower. In the event of a partial taking of the Property. unless Bornwer and Lender
otherwise agree in writing. them shall he applie4 ~o the urmcssccured M• thi, Mortgage such proportion of the prixeeds
as is equal to that ptop++rtion which the amount of the same secured by this 1ortgage immediateh• prior to the date of
taking heart to the fair market value of the Property immediateh• prior to the date of taking. with the balance of the proceeds
paid to Borrower. `
if the Property is abandoned h~• Borrower. or if. after notice by Lender to Born++ver that the rnndemnor offerc to make
an award or scUle a claim for damage,. Borrower fail, k~ re,pond to 1 ender within 111 dacs after the date such notice is
mailed. lender is authorized to collect and apply the pri~ecds. at 1 ender'c option. either to restoration or repair.of the
Property or to the sum, secured M• this Mortgage.
t'nlesc Lender •rnd Borrower othcrs+•ise agree in ++ritin~. any •su~h ;+ppli:ati++n of pro:ccds to principal shall nin extend
or po,tpone the due date of the munthh_• installment; referred to in paragraph, ! and hereof or chance the amount of
such ir,ctrllments.
10. Borrower Not Released. 1?xten,ion of the time f+~r payment or modificati+a? of amortization of the sums secured
i1y ts;iti SfllriLagi' granted Zti~' i-cn+il'f li+ ally succc,stlr ill tntcic,i ltf liijritst+ei ,li.::! nt+l i:~+i`,i.t'.ti it+ rc:t«'sc, lei 3:+t ti+3i+inr.
tfic liahilits of the original Borrower and Borrower's successors in interact. lender shall not he required to rnmmenee
pu+:eedincs against such successor or refuse to extend time for payment or othen+ise modify amortization of the sums
secured by this Mortgage by reason of am• demand made hs' the original Borrower and Borrower's successor, in interest.
li. Furl?earancr by leader \ot a ~i'ai+rr. ,~u+ f++rlx~arancr hs t.ender in eser:i:in:_ am' right or rcmcd~• herctmdcr, or
ntherw•ise afiurded by applicahle law. ,hall n+~t Fx a waiver ++t or preclude the exercise of am• such right or rcmed)'.
"fhe procurement of insurance or the payment +~f taws or +ahrr liens ++r charges h+• Lender shall not he a uaivcr +~f Lender's
riche t.• ac:eler.dc the maturih• of the indebtedness ,scared by this !11onsaer.
12. Remedies Cumulative. .All remedies pmvided in this Mortgage arc distinct and :umulatiyc tr.:u?y +aher right or
remedy under thi, ;\iortgage or alTorded h~• law or equitc..rnd m:++ he csercised rnncurrenth•. indepcndcntlc ++r succr,sively.
13. Successors and :\ASiRns Bound: Joint and Se+eral I.iabilih; ('apfions. The covenants and agreement, herein
:.utt:+ine+f shat! hind.:uttl the rights hereunder ,hall more h~. the re,pective succe„car, and assign, of I ender :rnd Borrower.
,abject A~ the pr++yi,iun, .+f paragraph 17 hereof. :\!I co+•en:u~t, .:nd agrermenh of Borr+nver shall he j~~int and ,cveral.
Ilte raptirn, :ut+l heading, of the paragraph, of this !~lortg.+ce arc fir convenience +~nh' :+nd arc not to he used to
in,erprrt or define the nmvisions hereof.
14. \olice. Except for an}• nrnice rcuuired under applicat•!e L•c++ to he eivrn in another manner. fat any notice to
13urro++•er provided for in this ~tortcage shall he clean by ruling ,u:h rn*tice h} :enifiat mail addres,ed to Borm++er at
the Propem• :\ddre„ or at such other :uldres, a, Borro++er m;?•, dc,~enate by notice t+• 1 end•~r as provided herein. and
rhl an• notice to 1 ender ,hall he Liven by certified mail. renrrn recei{+t reque,ted. to I tinder's address stated herein or to
'i ~u:h other :tddre„ a, I ender may desicnatc h~ notice tr Bo~nn+er as provided herein. :\n}• notice pn+vide.l for in this
~turtgace .hall Fx decmr,l ha•:e been clean to B~•rrov+rr or l ender v+hen gisen i? the manner desiQnatcd herein.
15. t'niform ~lortgaKe: GoverninP i.aw; Se+erahilih. This to•m of mortca_c _omhines uniform :ovcnants for national
use and rlnn-i1nltUfm coven:,nt, v+ith limite+l variation, by ~uri,.!iction to constitute a uniform security irstn+ment covering
real pmp~rt~~_ •fhr, \t.+rt~,aie sh.+ll Fx g++s:rned by the tam rf the juris.ti:tion in which the Propert)• i, liw:ated. In the
I ~+•cnt th.+t arty hr+»'isi.+n +~r rlaus~ ..f Ihi, ~1ort>;a~'r ,~r the I~ i++ntli:t, ~+ith appli:able law.:u:h conflict ,hall nit afTCCI ~
j other pn+v :,ion, of thi, \t.~rtg or the NoM «hr~h :.ur hc• raven elTect without the conlli:Iing provision. and to this
s red the t~mv i,ion, of the \1orc~:?~•r and the \,+lv are +Ir:L+rcd to he ,eycrahle.
f 16. Borrower's ('upy. Borruvver ,hall hr furni,hed :.~nfonnrd :rpv ~•t fhr \ote and of thi, \lortgage at the time
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~~t cxecuUon or after rrrordation hereof.
€ 17. Transfer of the Propert}::\ssuntption. If ;cl! .•r :mv n.+rt of the Proherty or an interrct therein is ,old or transferred
ht Borrover v+ithuut Lender's poor v+rutrn current. rsaudin,• iar the creation of a lien or encumhrancc subordinate to
thi, `tortgage. 1M the creation of .e ~urch.ne ntcairv ,res:n++ mterc,t for houuhul+l appliances. Icl a transfer he devise.
de,:ent or by operation of I:cv+ upon the .ieath ,~t a i.~:nt tenant or td+ tt:e grant of am leasehold interest of three years or less
oat containing an ontion d. nun-hase. I ender mav..rt 1 ender', +•ntu+n. de:L+re all the stems secured by this Mort!eaee to he
immr+fi:doh- due and l+a}'able. I ender ,hall base +vaiced ,uch option t++ acceler.+te if. prier to the sale or transfer. Lender
and the perurn to v+hom the Pnvpcrt~~ is Io he ,++IJ ur tr.+mferred rea:h afireentent in wnhng that the credit of such person
i, sati,factrrs• t+~ Lender and that the intrrr,t pa)ahlc on the su?m ,ecured by this Mortgage shall he at such rate as Lender
sh.+ll request. If lender has waived the option t:v accelcrrtc provided in this p:+racraph 17. and if Borrower c successor in
interest has executed a vyritten assumption acreemem accepted in ~+~itinc M• Lender. Lender shall release Borrower from all
obligations under this ~fortcage and the Note.
If Lender exercise, such option to ac:rlcratc_ I ender shall mail Borrower notice of acceleration in acrnrdance with
paragraph 14 hereof. Such notice ,hall provide a per:+d ++f not les, than lf1 days from the date the notice is mailed within
which Bornnser may pay the sums dec!;+reJ due. If Borrc+wer fails tc• pay arch sums prior to the expiration of such period.
Lender may, v+ithout further notice or .lmand on Itc~rn+wer. imot,c am remedies l•ermitted h}• paragraph 1R hereof.
NO\-L1\IFORM COVENANTS. Borrower and Lender further rns•enant and agree as follows:
a 1 S. Acceleration; Remedies. •F.xcept as provided in paragraph 17 hereof. upon Borrower's breach of any cotenant or
) agreement of Borrower in than 3tortga>;e, including the covenants fo pa}• when due any sums secured by this Mortgage. Ixnder
prior to acceleration shall mail notice to Borrower ac provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure such breach: (3) a date. not less than 30 days from the date the notice is mailed fo Borrower. by which such
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d breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
e acceleration of the sums secured by this lortgage. foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding ~
' the non-existence of a defauH or any other defense of Borrower to acceleration and foreclosure. If the breach ac not cured on
or before the date specified in the notice. Lender at Lender's option ma}• declare all of the sums scented b}• this Mortgage to be j
immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall ;
be entitled to collect in such proceeding all expenses of foreclosure, including, but not limited to, reasonable attorney's fees. !
and costs of documentary evidence, abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstanding Lender', acceleration of the sums secured by this Mortgage,
~ Borrower shall have the right to have an}• proceedings t>.:gttn by Lender to enforce this Mortgage discontinued at any time
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af»x 318 PaGE 1~ G a~ 318 ~Acf x.08
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