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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage iaturanae premiums in the
manner provided under paragraph 2 hereof.
Any amounts disburxd by 1_ender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrow•cr and Lender agree to other terms of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof and shall bear interest atom the
date of disburxment at the rate payable from time to time on outstanding princip;(~tsnder the Note unless pa'ymertt of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest Matt:
permissible under applicable law. Nothing contained in This paragraph 7 shall require Lender to incur any expet!ue or take
any action hereunder.
g. laspetliow. Lender may make or cause to be made reasonablt entries upon and iftspeMions of the Property. provided
that Lender shall give Borrower notice prior to any such inspection specifying reasonablf•cause therefor related to Lender's
interest in the Property.
9. Cowtkwrtntbw. The proceeds of any award or claim for damages, direct or consequential, in rnnnection with any
condemnation or other taking of the Property, or part therrnf. or for conveyance in lieu of condemnation, arc hereby assigned
and shall be paid to lender.
In the event of a total Taking of the Property. the proceeds shall he 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 Io the sums. secured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
liking bears to the fair market value of the Property immediately prig to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoned by Borsower. or if. after notice by Lender to Borrower that the condemnor oRers to ittteite
ar. award or xttle a claim for damages. Borrower fail. to respond to Lender within 30 days after the date such notice is
mailed. Lender is authorized to co11ec1 and apply the proceeds. at Lender's option, either to restoration or repair of the
Nroperty or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writine. 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 hereof or changt the amount of
such installments.
10. Borrower Not Rckased. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any cuccecsor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrower
s successors in interest. i.ender shall not be required to commence
proceedings against such successor or refute to extend time for payment or otherwix modify amortization of the sums
xcured by this Mortgage by mason of any demand made b}• the original Borrower and Borrower's successor in interest.
11. Forbearance by Lewder Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law_ shall not he 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 ur charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedks Comuhthe. All remedies provided in this 1?tortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may tit exercised concurrently, independently or successively.
' 13. S~ceessors awd Assigws Bound:.Joiat lewd Several I.iabitiry: Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure fo, the respective successors and assigns of Lender srtd 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 this Mortgage are for convenience only and are not to sie used to
interpret or define the provisions hereof.
11. Notice. Except for any notice rcyuired under applicable law to be given in another manner, (a) any notice to
Borrower ptovided for in this Mortgage shall be given h}• mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower mav_ designate by notice to fender at provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to [.enders address stated herein or to
j such other address as Lender may designate by notice to l3ormw•er as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
15. Uwifortrr Mortgage: GorerniwR Law: Severability. 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 claux of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note which can be given etlect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note arc declared to be severable.
's. 16. lormwer's Copy. Borrower shall be furnished a conformed cop} of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Trawsfer of the hoperty: Assumption. if all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (a? the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase money. securit}• interest for household appliances, (c) a transfer by devise.
descent or by operation of law upon the death of a joim tenant or (d1 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 waived such option to accelerate if, prior to the sale or transfer, Lender
and the person to whom the Property is to be colt or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest pa}•able on the sums secured by this Mortgage shall be at :itch rate ac Lender
shall request. if Lender hu waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest hu executed a written assumption agreement accepted in writing by Lender. Lendu shall release Borrower from all
obli0ations under this Mortgage and'the Note.
tf Lender exercises such option to accelerate. Lender shall mail' Borrower notice of acceleration in accordance with
puagraph 14 hermf. Such notice shall provide a period of not Tess 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 expiation of such period,
ti Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1g hereof.
Note-1JNIFORM CoveHxrrTS. Borrower and Lender further covenant and agree as follows:
lg. Accderatiow; Rewredks. E:cep1 ss provided iw paragrapl? 17 tiered. trpa •orr+arres's brweb d any cotrettttYrt or
agreewrewt d iorrewer d this Mortgage. fwchrdiwg the corcwaMs to pay whew tae gray starts seeweti Try this 1Norfgage. i.estlt:r
prbr to accdcratior+ slit snail wotlce to 13orrowcr ss provldcd iw paragraph 14 herto[ grecifflog: (1) the breach: (21 the stetiow
rgwhed 1o esre tttscb btreacfs; (3) a dale. Trot less thaw 30 days fwrw the Gate the wotke fs t~Yed fe >forrorrcr. b which sock
breach mrtst be etsre~ ttttsd (4) that faNrrre to cwre such btreach a or before the date sptciieti V the wotke tstay restrk d
acYderatloo d tfe slaws settsr+ea by tbb Mortgage, foreclosure by judicial proeeeiMtg ttstti tale d the heperty. The wotke
wait further iwform It{OrrtlwtT d the riRM to rehtstate after txceleratiow awd the right b trsstA M fltt tOr'eeloiolt ~reteltllLg
the s>ow-esLtewee d a detswlt or arty other detcwsc of lorrower to accekrNiow awn foreclosrre. N dre btrrxh is twf etrrtd as
or bdoce the dNe geciid i• the tttotice. Lewder at l.ewder's optiow way declare r d the sox seetrrsd ~ tytis Martgtt((e Os tit
hsttaediately arc ttteti poyable wifhod ttrrther demand and may foreelose this Mortgage by jtrttiei.l precttedloR. Lender dray
be esttidetl to Bullets i• stscr prnetediwg s,Y espewses of foreclosure. hxltsdirtg. bwt slat Bwdfets fk, reasowaMe sttoraet?'s fees.
ttrr lush d iocr:~ssdary e~idewce, abstrwcts awl title reports.
I9. lorrewa's Right to Reiwstate. Ndwithstanding Lenders scceleration of the sums secured by this Mortgage,
Borrower Shall have the right to have any proceedings begun by Lender to enforce this Mortgage dixontinued at any time
321 P~~E 687
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