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1 rnd,r's :+nnrn agreentrnt or applrs•ahk la:+ If~~rm:?er sh:dl pa} the ant~~unt .,f all m~~rtgar imur.,n;r premium, u: Ihr
manner pr~~culr.l under patagraph hereof
:gym antuunts disbursed by I rndrr punu;utt n. this par.rgr;y,h 7, :+ith interest thereon. ,hall l+r:otnr :rdditiona)
indrh~edne„ .d It~,rru:+er secured h+• thrs ~1ont.rge. l'nle,s Rurru:+er :utd l emlrr aerce t~: other terms ~~1 pacntent. such
:unrunts,hall t,e pa~ahle upon nnti:r fnan I ender t~~ R~~rm:+rr reyursting p:r)ntertt Iherrrf.:uul sh.rll hear interest from the
late of di,hursement at the rah• pas•ahlr fn~m time to time un ontstandine principal under the \otc unless payment of
interest :rt wch r:rie ++ouhl I?c contran• to applicahlc la:+. in :+hirh eccnt wch amounts sl?all hear interest at the highest talc
permissible under applicahlc la+v. Nothing contained in this paragraph 7 ,hall require I ender to incur any expcnce or take
• i
.ut)• anion hereunder.
R. Inspection. 1 cndrr may maAe or educe u, 1+C mad. re:tsonahle entric, upon and in,pections of the Pn?perty. pn,vidcd 3
that 1 ender ,hall gi?~ Borrower notice prier Ir. am• such inspection specifying reacenahlr cause thcrrfrr relalyd to I ender's
rnterrst in the Property.
9. Condemnation. The pmcecds c,f anv a:+ard .u claim for d:?magec. direct or con,ryucntial. in connection scith am•
:.aulcmnatiun ~+r ether taking of the Property. or part therc~~f, er for conccyancc in l1eU of condemnation. art hercM• accigncd
and ,halt he paid tc• Lcndcr.
In the eccnt of :r total ktking of the Pn,prrty. the proceeds ,hall F,e applied t.• the ,ants secured by this \tertgagc.
:+ith the execs,. if any. paid to Rarro:+•er. In the event of a partial tal.inc of the Property. unle,s Rernn+er and Lcndcr
~ahrrwi,r agree in +vriting. t(terc: shaJl.l,c applied to the wms cecurcd by thi, 1lertgage ,uch proportion of the prc.ceedc
as is cyual to that prrp.~rti~ri +vhich the amount of the Bums srurrd by this \lertg:rec immrdi;rtrk prier t.~ th~• date of
taking brats to the fair market valor of the Properly immedi:rteh• prior u? the date c,f taking.:+ith the halancr of the: proceeds
paid to BOrreN'Cf.
if the Property is abandoned by Bern,+vcr. or if. after notice h+• 1 ender to Rorrowrr that the rnndcmnor offers to make
:ut a+car.i ur scale a claim for damare,• Rern,+vrr fail, a, respond t~~ 1 ruder :cithin t(t day, after the d:ue ,u,h nc,ticc is
m;riled. Lcndcr is authori7cd to collrrt and apply the pn•ccedc. at 1 ender', option. either tc, rccroration er repair of the
Pn:pcrl) or to the sums secured by this Mortgage.
l.'nless Lcndcr and Borrower olhcr++•ice agree in :+ritin~~. ant >u:h :?pplir:dien c•f prcxceds to principal ,hall not cVend
or postpone the due date of the monthly instaUmentc refermd to in paragrrphs 1 and•'_ hereof er ch:utgr the amount of
,uch inctalhncnts. - '
10. Borrower 11M Released. hxtcnsion of the time for payment or modific:aion of amertiiation of the acme secured
by this Mortgage granted h+' Lcndcr to am• arccecs.,r in interest of R~rm+vcr shall not opcruc to release. in an}• manner.
the liability of the original Burnn+cr and &?rmwer', succrcu,rs in intercct. Lcndcr shaft not he rcyuired to commence
pr.,rredings against wch successor ur refuse u. extend time for pa)•ment or othen+i,e modify am.?rtiration .+f the sums
sc, aced by this Mortgage M• rcawn of an+' detnan2l made M' Abe orieinal Rorro+cer and Borrowers cucressors in interest.
11. Forbearance by Ixnder \ut a «'ai+~er. AnC• ferF+carant-e he 1 ender in cxcrcicinc am• right or rrmrdv hereunder. or
~~therwisc afTordcd M• applicahlc law. ,hall mgt he a ++:rrer of ~~r preclude the cxcrcice of am' wch right or rcmcd+•.
The procurement of incurancr +?r the paymem of lase, er ether liens or rhargrs M• Lcndcr ,hall nM F,r :r ++:ri+•er ~~f I endcr'c
riche t~~ acrelcrate: the maturity of the indehtcdne,c sr:ured he this Mortgat~c.
12. Remedies ('umulative. .~lll rcrnediec pn~cided in thi, Mortgage arc distinct and cumulatis•r to anv rthrr right er ~
remedc under thi, Mertg.+gr ur affrrded by lase or eyuit}. and may I,r excrri~ed roncurrenth•, independcntlc ~,r wrce,sivrly.
13. Successor and AtsiRnc Bound: Joint and Se+eral Liabilih; ('options. The ce,venantc and acrrentents herein
ct~ntained ,hall hind. and the riches hereunder shall tract to. the rcsp~aivr wccrssorc and as,ignc of Lender .utd Borrower.
,uhiect to the pruci,ien, of paragraph 17 hereof. :III ruven;utt, and agrermcnt, of Rorro:ver .hall her i~~int and ,cveral.
Thc capti.ms anel hcadinL, of the par.graph, of this Jlertgagr :etc ter convrnicnce only and arc rn~t t., hr recd to
interi,rrt er define the pn.vicic,nc hereof.
14. \utice. Except for anv notice required under applicahlc la:c tee he riven in :mother manner. (al anv notice to
Ilcaru+cer pnaided for in this Mortgage shall tx gn•en h~ mailing wch notice M certified moil addresx'd tee Borrower at
the Property :~ddre„ er at ,uch other address ac R~~rr~,:~er mac deign:rte by notice to I ender ac pn,viefed herein. and
(hl am notice to I ender ,hall I,c given h+• ccrtifiecl mail. return receipt reyuestrd. to 1 ruder', addre„ stated herein or to
,uch other addre„ as Lender mac decimate h~ relict to &+rrcncrr ac pn,vided herein. :~m• notice provided for in this
\lrrtgage shall he deemed to hare been given to Berrc~:+er .,r Lender :+hen given in the manner designated herein.
1S. C'niform'~ir?rtgagc: Governin¢ LaN; Secerabilih. l tits f~,rrn of mortgage combiner uniform rc+s•cnants for national
~ ace and nrn-uniform c.ncnants :cith limited variation, he inrisdrrtion t~~ romtiurtr a uniform security instnrment co+•cring
real proprrt~. This \kxtgage sh:dl F,r guvrnted by the lav+ of the iuris.li:lion in which the Property i, located. in the
~ event that any provision or clarxsc of thi, ~lertgagr ~~r the \,ar contlich ~+ilh applicable laic. ,uch a:ntlirt sh:dl not affect
f ether revisiem of this !ltortgagc or the \ek which ran he Liven etTrct ui!hout the conflicting
I p precision. ;rnd to this
E rnd the pr.+v i,irnc of the ~1c+rtgage drat the ~~~te art declared h~ he sever-.rhlr.
16. Borrowers ('opt. Rorrov?rr shalt hr funn,hed c.atformed ro1e of the \otr :mcl of this Murtgagr at the time
.•f execution er after rcrerdation hereof.
17. Transfer of the Propert}; a,sumption. If alt ..r anv h.rrt of the Pn:perty ur an interest therein is ,old er transferred
j by Rorr.~wer without l.cndcr's prior v+rinen runsrnt. excluding la? the creation of a lien er cncumhrutce cuhor.linatc to
thi, Mortgage. (h? the creation of a pureha,e ntnnrc securitx interr,t for hnucehold appliance,. Icl a transfer he devise.
decent or M' eprratien of lave open the death cat a i~~int tenant .:r tdr the grant of anv leasehold interest of three +-rars or lest
rut containing an option to purchase. I ender mac. at Lender', .ry?U~m. declare all the wm, secured by this Mortgage to be
f unmediatelc due and pa)';thle. 1 ender shall hare :+aived ,nth option tr acrelerdc if. pricTr to the sale or transfer. Lcndcr
_ :rn.l the pcr,un to whom the Pmpertc is tr F,e ,old or transferred reach agreement in writing that the credit of such person
r, saticfacton~ h, I.endrr and that the interest pacahlc en the wms secured by this Morteagc shall he at such rate as Lender
4 ,hall request. If I ender has waived the option to acceler.rte pmvided in this paragraph 17. and if Rormwer's successor in
interr,t ha, executed a written assumption agreement accepted in writing by Lcndcr. I.en.ler shall release Borrower from all ,
.~hligatiens under this Liertgagc and the Note.
If 1 ender exerei,e, wch option to accrlcr:ue. I ender shall mail Rormwrr notice of acceleration in aernrdanee with
i barograph 14 hereof. Such notice shall provide ;r ported .,f n.:t less than 3(1 da)•s from the date the notice is mailed within
v+hirh Berrovicer mac pa) the wm, decLered due. !f Berrov+er fail, to par wch wms prior to the expiration of wch period.
r Lender may. vvithotrt further Holier or demand c,n Itorn,wcr. incoi.r am~ rentcdics permitted by paragraph 1 R hereof.
s
~ \o~-l~xttotc~t COYF\ANTS. Bormwer and Lender (urthcr crn•enant and agree as follows:
IS. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage. Lender
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure such breach; (3) a date. not less than 30 da}•s from the date the notice is mailed to Borrower, by which such
~ breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
acceleration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. 771e 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 deiauN or any other defense of Borrower to acceleration and foreclosure. If the breach is not cured on
t or before the date specified in the notice. Lender at Lender's option ma}• declare all of the sums secured by this Mortgage to 6e
3 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.
~ I9. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have am• proceedings F,egun by Lender to enforce this Mortgage discontinued at any time
q 336 PAGE 1219
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