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Lenders written agreement or applicable law. Borrower shall Duet o a e insurance premiums m the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this 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 tie payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from time to time On outslat~ing principal under the Note unless payment ot~
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
8. InspectlOn. Lender may make or cause to to 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
Lenders interest in the Property.
B...Cond,mnatlon. The proceeds of anyaward or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, hereby assigned
and_ shall be paid to Lender.
In the event a 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
otherwise agree in writing, there shall be applied to the sump a@~ur~ by ihisJulgrigage SUCK proportion of the proceeds
as is,equal to that proportion which the amount of the su s secured by~ihis ortgaga imr?1eti~alely prior to the date of
taking h~a~s itQ~th@ fair market value of the Property immedi ~ly prior to the date of taking, with the balance of the proceeds
paid to the ~tSrtower.
~If the Property is abandoned by Borrower, or ii, after notice by lender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower tails to respond to Lender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds, at Lenders option, either to restoratiQp or repair of the
Property 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. "
1 O. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
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 shalt not be required to commence
proceedings ayy~~nst gyc succtiessor or refuse to Ext red tiEne tor. payment or otherwis$ modify amortization of the sums
secured by thislNOrtgage~y reason Of anytieri'rdAd ~ad~t~y-th~ original (3orrower and Borrbwers successors in interest.
11. Forbsaronce by Bender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder,
or otherwise afforded by applicable 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 taxes or other liens or charges by Lender shall not be a waiver of Lenders
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and ~umlhative to any other right or .
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
13. Succsssoro and Assigns Bound; Joint and Several Uabllity; Captions. The covenants and agreements
herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of
Lenderand Borrower. subject to the provisions of paragraph t 7 hereof. All covenants and agreements of Borrower shall be
joint and several. The captions and headings of the paragraphs of this Mortgage are for covenience only and are not to tie
used to interpret or define the provisions hereof.
14. Notlc~. Except for any notice required under applicable law to be given in another manner. (a1 any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower max~d~ggate by rgt~ce,to_tiender as provided herein, and
(b) any notice to Lender shall be given by certified mail, return receipt requested, to tenders 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 L_ ender when given in the manner designated herein.
15. Uniform MortQape; ~iovsming Law; Severobllity.~ lltts~orrti~ftniod~ege doMbines uniform covenants for
national use and nonuniform covenants with limited variations by jurisdiction to constitute a uniform seeu iffy instrument
i covering real pioperty. The state andlocal laws applicable to this Mortgage shall be the Taws of the jurisdiction in which
i the Property ~s located. The foregoing sentence shall not limit the applicability of federal law to this mortgage. In the event
E that any provision or clause of this Mortgage or the Note conflicts with applicable law. such conflict shall not affect other
provisions of ih~s Mortgage or the Note which can be given effect without the conflicting provision. and to this end the
provisions of the Mortgage and the Note are declared to be severable.
E 1 a. 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 all or any part of the Property or an interest therein is sold or transferred
! by Borrower without Lenders prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
F this Mortgage, (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise.
descent a by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
not containing an option to purchase. Lerxier may, at Lenders option, declare all the.sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate'i~piior to the safe o~ transfer, Lender
and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lerxfer and that the interestpayable on the sums secured by this Mortgage shall be at such rate as Lender
shall request If Lender has.waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in _
interest has executed a written assumption agreement accepted in writing by Lender, tendershall release Borrowerfrom all
e obligations under this Mortgage and the Note.
aa$ If Lender exercises such option to accelerate, Lender shall malt Borrower notice of acceleration in accordance with
t paragraph 14 hereof. Such notice shall provide a period of rat less that 30 d9ys from the date the notice is mailed within
which Borrower may pay the sums declared due. If Borrower tails to pay such sums prior to the expiration of such period,
Lender may. without further notice or demand~on Borrower, invoke any remedies pem~itted by paragraph 18 hereof.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
18. Acceleration; Remedies. Except ss provided In psrapraph 17 hereof, upon Borrrovwrs breach of any
covenant or aQnemer4t of eorrow~ In thts Mort IucludinQ the covenants to pay when dui any sums second
I by this MortQaQe, Lender prigr to accsleatlon shall mall notice to Borrorwr as provided in paraQaph 14 hereof
specifylnQ: (1 j the breach; (2) the sctton nquirod to Dore such beach; (3) a date, not less than 30 days from the
date the notice Is maltedto Borrower, bywhich such breach musttrte cued; and(4) thatfaUun to cure wch breech
i on or before the date specffled In the notice may nsuk In scc~leratbn pf qte sums secured by this MortQaQe,
foreclosure by judlclsl proceednnQ and sale of the f~oporty.'1'he notice shall further Inform Borrowerof the rlQhtto
0 rolnstate after acceleration end the rfQht to saaert Inthe for+aclosun proceedlnpthe npn-existence of a default or
any other defense.of Borrower to scceleratbn ard~toreclosure. if tfie breach fa not cured on or before the data
specified in the notcc, fender at.Lenders option ms)t dieters all of the sums secured by this MortgaQp to b~
tmntediately due ind psysblu without further dimsnd, and ~ foreclose this MortQaQe by judicial procNdtnQ.
Lender shall be entitled to collect in such proceedlnQ all expenses of foreclosure, IncludlnQ, but not 8mited to,
r roasonable sttomey's fees, and costs of documenLry evidence, abstracts and title sports.
I 19. Borrower's RlQhtto Reinstate. Notwithstanding Lenders acceleration 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
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