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Lender's written agretment or applicable law. Borrower shall pay the amount of all mortgage iastrrattoe premiums in the
manner provid:d under paragraph 2 hereof. ~ ; , ~
.Any amounts disbursed by Lender purswnt t~lt~ 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 notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from tithe to time on attstanding principal under the Note unless pa'yrttatt of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest raft
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any experat or fate
any action hereunder.
Iasrectiow. I_¢nder 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 I~ertdePs
interest in the Property.
9. Coidetrtatbw. The proceeds of any award or claim for damages. direct or rnnsequential, in connection with any
condemnation or other taking of the Property, or part thereof, 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 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 f
otherwise agree in writinlt. there 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 i_ender to Borrower that the condemnor oRets to make }
an award or settle a claim for damages, Borrower fails to respond to lender within 30 days after 'the date such ranee is
mailed. L'.ender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
Property or to the sums secured by Ibis Mortgage. i
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not etttettd
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[
i
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amortiution of the sums secured
by this Mortgage granted by [_ender to any successor in interest of Borrower shall not operate to rcksse, in any manner,
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
proceedings against such successor or refuse to ectend time for payment or. otherwise modify amortization of the sums 3
secured by this Mortgage by reason ofrny demand made by the original Borrower and Borrowers successors in interest.
11. Rorbearaace 6y Lender Not ~ R?dver. Any forbearance by Lender in exercising any right or remedy hereunder, or i
otherwise aBorded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurartce or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured 6y this Mortgage.
' 12. Rewedks Carrrhtlre. All remedies provided iq this Mortgage arc distinct and cumulative to any other right or i
remedy under this Mortgage or atiordcd by law or equity, and may be exercised concurrently, independently or successively.
13. Soccessors and .Assigns Found; .)Dint ad Several I.iabilNy; Captions. The covenants and agreements herein
contained shall bind, and the rights hereunder shall intrr~ to, the respective successors and assigns of Lender apd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jolty and several.
The captiora~and headings of the paragraphs of this Mortgage arc for convenience only and are not to lie used to
interpret or define the provisans hereof.
14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certi&d mal addressed to Borrower at
the Property Address or at such abet address as Bormwer may designate by notice to under as provided herein, and
(b) any notice to Lender shall he given by certified mail, return receipt requested. to Lender'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.
origaRe; Corenriag Lsw; SererbbBit_v. This form of mortgage combines uniform covenants for national
~ IS. Uaiforru M
j 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 Mortgage or the Note conflicts with applicable law. such conflict shall not aRect
~ 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.
If. •orrower's Cory. Borrower shall .be furnished a conformed cop)• of the Note and of this Mortgage at the time
~ of execution or after recordation hereof.
17..Traasfer of the lhorerty; Assamptiow. Tf 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
i this Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
deser'nt or by operation of law upon the death o(a joint tenant or (d) the gent 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
j 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 cold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lendei and that the inten~st payable on the sums secured by this Mortgage shall be at such rate ac Lender
:frail 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 aswmption agreement accepted in writing by Lender. Lender shall release Borrower from all .s
obfijations under this Mortgage and the Note.
~ if Lender exercises such option to accelerate. Lender shall mail Borrower notice o[ accekntion 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 sutras declared due. If Borrower fails to pay such sums prior to the txpintion of such period,
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph IR hereof.
Not+-UNIFORI4 CoveruNTS. Borrower and Lender further covenant and agree as fellows:
10. Aeederalio~ Remedies. fiisce}t r provNed is MrKr'aM 17 heroot, Mesa )sornwers htreach oti any coretwrt K
E agreenreat of Bon~swer f• this Moregage. iaehrdiag. fhe cwenswb to ray when else any ttttws seesrci by fins Morgts`e. Leaser
ptrior M sccek*atlon shat nnN wotke to >torrowtr as rtrovNcd iw raragrarle 14 bes~eot sreeityirrg: (1) Aft hteaeh: the stiiew
rgtisd Is ca+c web Bach; (3) a dale. toot less thaw 30 days frorrr rite date the notkt V tnallod M Mrrswer. b wftdeh web
breach ~ he awsd; atsd (4) drat taNrrrs to etere svelr breach ores or before the date geeYod Mi the notice ray result b .
aceeieratlen of Ae ~ secured by this Mortgage. fereelosare by J.dtew rroeeelitrg atsi ale et the Twrerty. 71te naliee
shat further iaforwr serrower of the right to reiashte after acceklados and the rlglrt le assert i• the foreeiowr~e rrw~teittg
the aoa~esMewce of a detatrlt or any other dderroe of )sorrower to aecekrMfow sad toreelowre. B the breach r aol etrrteti a
w before the dale sreeiiei i• the tsotke, Leader at I.errder's ortfow ray deciane r of the wens seeare! b this MortpRe w he
i~edWeiy dtre aai rayahle without tarlher demand sad Wray fortclooe this Morf=agt h' jrikW rrrtcsedi~R. Lender drnY
be etrdtlerl f• eoBoet r web !fit r expenses of forecbwre. hxhsdiag, bat sat Barited tic. reasoaahle stt~xrrer's fees.
aald Caali Of dK~'7lM1ry erideaet. ahftratts and title ttrOrta.
1!. Itortrowa's Right to Ri~iaMate. Notwithstanding Lenders aceetieration of the sums secured by this Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
8~ 328 P~~E 703