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Lendec
s written agreement or applicabk kw. Borrower shall pay the amount of all mortgage iaswance ptttnitrrtu to the i
manner provided under paragraph 2 hereof.
Any amounts disbursed by lender pursuant to tha paragraph 7, with interest thereon, shall become additional
indebtedncss.of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such ,
amounts shall bt payable upon notice from lender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rats payable from time to time on outstanding principal under the Note unless pajrment of
interest at such rate would be contrary to applicabk law, in which event such amounts shall bear interest at the highest rate
permissible under applicabk law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
Iw4ectioa. lender may make or cause to be made reasonable entries upon and inspections of :?:e Property. provided
that i.ender shall give Borrower mice prior to any stash inspection specifying reasonable cause therefor rciatrd to Lender's
interest in the Property.
Ca. The proceeds of any award or claim for damages. dares! or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
ati3 shaii bz pai3 ii. Lciw~2r. E - - " ~
In the event of a total taking of the Property. the proceeds shall bt applied to the sums secured by this Mortgage.
with the excess, it any, paid to Borrower. In tht event of a partial taking of the Property, unless Borrower and Lender
otherwise agree in writing, them shall be applied to 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
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
paid to borrower.
If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower that the condemnor oRers to mate
an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the daft such notice is
mailed, Lender is authorized to collect and apply the proceeds. at fender's option, either to restoration or trpaer of the
- Proptrty 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 paragraphs 1 and 2 hereof or change the amount of
such installments.
lt. aorrower Not Released. Extension of the-time for payment or modification of amortization of the sums set:urtd ;
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 Borrower
c successors in interest. Lender shall not be required to commence
proceedings against such successor 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 Borrower's wecessors in interru. ;
11. Rorbearawee by Leader Nol a waiver. Any farfiearance by Lender en exercising any right or remedy herrtmder, or j
otherwise afforded by applicabk law. shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of fates or other liens or charges by Lender shall not be a waiver of Lender's.
right to accelerate the maturity of the indebtedness secured by this Mortgage.
l2. Rewedles Caraar>ftie. All remedies provided in this Mortgage are 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.
' I3. Saecessors and Assigaas Doaad: Joint sae Several iLbil'~; Captloas. 'ilie covenants and agreements herein E
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender aad Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joiry and several.
The :.aptions-and headings of the paragraphs of this Mortgage are for convenience only and are not to ik used to
interpret or define the provisions hereof. 4
14. Notice. Except for any notice required under applicabk law to be given in another manner, (a) any notice to ~
Borrower provided for in this Mortga¢e shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Bormwer may designate by notice to Lender as provided herein, and
(b) any notice to Lrndtr shall he given by certifkd snail. retutn receipt rcgtiesteci, to tender's 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 been given to Borrower or Lender when given in the manner designated herein.
1S. Uaiforw Mortgage: Govcntiag Law: SeverabNity. This form of mortgage combines uniform covenants for national
` use and sacra-uniform covenants with limited variations by jurisdiction to constitute a uniform stxurity irutrument covering
real property. This Mortgage shall be. governed by the law of the jurisdiction in which the Property is located. In the
4 event that any provision or clause of this Mortgage or the Note conflicts with applicabk law, such conflict shall not affect
~ other provisions of this Mortgage or the Nate which can be given effect without the oonAicting provision. and to then
end the provisions of the Mortgage and the Note are declared to be severable.
14 ifbrrower's Co'y. Borrower shall be furnished a conformed cop)• of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Traader of fire Properly: Assaarptioa. 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 oration of a lien or encumbrance wbordinate to ,
this Mortgage, (b) the creation of a .purchase 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 t
not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to be j
immediately due and payable. Lender shall have waived such option to aceelerate if, prior to the sale or transfer. Lender ;
and the person to whom the Property is to be cold 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 ac Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrawer
s successor in
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obligations under this Mortgage and the Note.
if Lender exercises such option to accelerate, Lender shall mail Borrower mice of accekntion in accordart~ti v?•irh
paragraph 14 hereof. Such notice shalt 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 wch period,
; Lender may, without further notice or demand on Borrower, invoke any remedie: permitted by paragraph I A hereof.
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~ NoH•Untt~ortat C;avexenTS. Borrower and Lender further covenant and agree as follows: g
lg. AccderMb~ Rewedles. 18ttegt w p+avfrer i• parsgraplr 17 hereof. t~oa ioirnwes's brass of a¦y eaveaarrt K j
I agrecasat of lenrower d dds Ms+rlgage. liela~rig ire eoteaaats to pay wrest tae nay stags sei:wer r! Ibis Mortgage. Lerirer
prbr a acederatba sra~ wail aMlce to >fortower as provi4ei h MragraN 14 re.ref speeMpiag: (1) ire btreacr: f wricli sacs
~ trgaier la care veer br+eaek (3) a sale, not less than 30 days trove ire rate ire wotfa r center N liartrower. b
brewer vast bs eat cent (q teat tailare to true saes Meacr oa o< before ire rate geclfietl r ire aotke way r+estilt i.
aeederatlaa at ire fiats aecwer b)r teas MortgsRe. f«eclown by ~itBkW'roceeifag aces sale of ire >hoperly. Tee aatke
sear frrtrer tedoret lornwer of ire rtgltt !o a after aceekratbti sae ire riglN b arerl if ere faeelosare poeaarlag
be aowttistewce of a retattlt or aq other retciue of Borrower to accelerMloa aces torseiowre. iiI trt rsrxr i. not carer a
or rdore ire tale geeiBarl v trt aotiet. Ferrier at l.earer's opiow way reelwe sN et ire areas stearer y tYs M4rlgale to re
iwweaWely sae cent ~aYaMc wkroot farlrer dcnnad aced wsy foreclae tW M«t~,.ge b i.+lel~l ~eeerl.ti. t.~rrdcr ,rill
be atf+lfer to eofiaet bt itaxr'raeeeriag ail e:'eases of rorrclosarr, I~cladiag. sal not iiatiter r. reasaaaMe ,nuracr's fees,
asst coals at ran'~eatary erireace, abstracts ace/ tkk rcprb.
1!. /oeawa's Right b Reinstate. Nntwithst.inding Lenders acceleration of the sums secwed by thi• Mortgage.
Borrower shall crave the right to have any proceedings begun by Lender to enforce this Mortgage discontinued st any time
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