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Lender's written agreement or applicable law. &+rrower shall pay the amount of all mortgage imurutrc premiums in the
manner provided under paragraph 2 hereof.
Any am?a?ntc dichursed by Lender purwant to this par.?gr.?ph 7, with interest thereon, shall become additional
indehtednec of Burn+wer secured by this Mortgage. Unless &+rrowrr and I en~kr :?grce to other tetmc of payment. ouch
anu+untc shall he payable up?+n notice from 1 ender to Born+wcr rcyucsting pa}•mcnt thcre~+f, and sh:dl I+car intcred from the
Date of dicburcement at the cats payable tram time to time un outstanding principal under 1i1~ ~4te0 lest payment of
intcrcst at s??ch rate would be rnntran• to appliwblc law. in which event such amounts shall hear ?ntcrc~t :It tNc highcct rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur aj?y expense or take
any action hereunder. .
8. lespection. Lender 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 Lender
s
inlorect in the Property.
9. Condemnation. The pnrcedc of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part Iherrnf. or for conve}•ance in lieu of condemnation, arc hereby accigned
and ,hall he paid to Lender. -
In the event of a total taking of tl?e Pmpcny. the proceeds shall I+e applied to the sums cccurcd b}• this Mortgage.
with the eccecs, if any, paid to Harrower. In the event of a partial taking of the Property. nnlecc Borrower and Lender
otherwise agree in writinft. there shall be applied to the sums cecurrd by This Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured M• this Mortgage immediatcl}• print to the date of
taking hears to the fair market value of the Property immediately pricer to the date of taking, with the balance of the proceeds
paid to Bormwcr.
If the Property is abandoned M• 8orrowcr. ur if. after nc+ticc by l.cnder M Hormwcr that the rnndcmnor offers to make
an award or settle a claim far damage, Borrower fails k+ rcsp?+nd to l ender within ~0 days after the date u?ch notice is
mailed. I_cnder is authorized to collect and apply the proceeds, at Lender ~ option. either to restoration or repair of the
Propene, or to the sums secured h}• this Mortgage.
Unless Lender and Borrower othen?•ise agree in writing. an}• such application of proceeds to principal shall not extend
ar Ixxtpone the due date of the monthly inslallmcnts referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Bormwcr Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by Lender m any successor in intcrcst of Borrower shall not operate ro release, in any manner.
the liability of the original Borrower and Borrower c succesu+rc in imerect. Lender shall not he required to commence
proceedings against such successor or refuse to extend tirrrc for payment or otherveisc modify amortization of the sums
securc~l by this Mortgage h}• reason ofrn}• demand made by the original Borrower and Borrower's successors in interest.
11. Forbearance by Lender Not a Waiver. Am• fort+carancc by l.cnder in exercising any right or remedy hereunder. or
otherwise afforded by applicable taw. shall not he a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of lases or other liens or charges by Lender shall not he a waiver of Lender
s
right to accelcratc the maturity of the indchtcdnecc scrurcd M• this \lortgagc. _
12. Remedies Cumulative. All remedies pms•ided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded M• law ar equity. and may t+c exercised concurrently. indcpcndentl}• ar sucrccsiveh•.
13. Successors and Assigns ~ound; Joint and Seseral Liability; Captions. The covenants and agr~-rments herein -
contained shall hind, and the ri¢hts hereunder shall inure to. the respective successors and ascigm of Lender and Borrower.
subject to the pmvisionc of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
The captions and headings of the paragraphs pf this Mortgage arc for convenience only and arc not to he. aced to •
interpret or define the pmvicions hereof.
14. Notice. Except for any notice required under applicable law to be given in anothsr manner. (al any notice to
Borrower provided far in this Mortgage shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address. ar at such other address as Burrower ma}• designate hs• n?aice to Lender ac provided herein, and
Ihl am- notice to Lender shall ix: given by certified mail. return receipt requested. to Lender s address stated herein or to
wch other address as Lender may designate by notice to &+rr.+wcr as prosidcd hcrcin. :any notice provided for in this
Mortgage sh:+Il tx deemed to have been given to Bormwcr or I ender when gis•en in the manner designated hcrcin.
15. (Jniform :liortgaRe; Cm•ernirrg i.aw•; Set,•erabilih-. Thi. G+rm of mortgage rnmhincs uniform rovenantc far national {
use and nun-uniform revenants with limited sariations by jurisdicti~m h~ constitute a uniform security instrument covering
real property. This Mortgage shall be governed M• the law of the iurisdirtii:n in svhirh the Pmpcm• is located. In the
event that an}• provision ur claucc of this Mortgage or the Nute a+nflirts with applicable law. such conflict shall nat. affect
other pravisiom of this Mertgagc or the Nate which can I+c giccn etTert without the conflicting provision. and to this
end the provisions of the Mortgage and the \utc art .Iceland to I+c severable.
16. Borrower's Cop}•. Borrower shall F+e furnished a runformed ropy of the Nete and of this sfortgage at the time
of execution or after recordation hereof.
17. Transfer of the Propetlc; Assumption. If all er am part of the Property or an intcrest therein is sold or transferred i
h}• Borrower without 1_cndcr's pricer written rimcent. csrluding tat the creation of a lien 'or encombrancc sulx+rdinate to
this Mortgage. Ib} the creation of a purrhasc money steatite interest fur heusehoW appliances. (c) a transfer M• devise.
descent er by operation of law upon the death of a joint tenant or td? the grant of am• leasehold interest of three years or less _ ~
not containing an option to purchase. 1_ender ma}•. at Lender's option, declare all the sums secured by this Mortgage to be ~
immediately due and pa}•ahle. Lender shall have waived wch option a. accelerate if, prior to the sale nr transfer. fender ~
and the person to whom the Property is to F+e sold or tr.?ncfcrred reach agreement in writing that the credit of such person
is satisfacton• to Lender and that the intcrest pa}•able on the sums secured M• 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 Borrower's successor in
~ intcrest 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. I ender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a ports) of not Icss than 30 days from the date the notice is mailed within
which Borr??wer may pay the sums declared due: If Borrower fails to pay such-sums prior to the expiration of such period.
tender may, without further notice or demand on Itorrowcr, invoke am• rcrnedies permitted by paragraph 18 hereof.
Nox-UNIFORM Covev~xTS. Borrower and Lender further covenant and agree as follows:
18. 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 rrotice to Borrower as provided in paragraph 14 hereof specifying: (1) fht breach; (2) the action
required to care snc6 breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, whkh such
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breach must be cored; and (4) that failure to cure such breach on or before the date specified in the notice may radt in } i
acceleration of the sums second by this Mortgage. foreclosure by judicial proceeding and sale of the Property. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding j
the rarrexistence of a defauk or any other defense of Borrower to acceleration and forecbsurr. If the breach is not cured on
or before the date specified in the notice. i.ender at Lender's option may declare all of the sums secured by this Mortgage to be
immediately doe and payable without further demand and may foreclose this Mortgage by judicial proceeding. Lender shall
be entitled to collect in such proceedntg all expenses of foreclosure. including, but riot limited to, reasonable attorney's tea,
and costs of documentary evidence, abstracts and tick reports. I
19. Borrower's Right to 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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