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1 en+kr'. wryttrn agreement ur :tpphc.rhle I;+w. Burn+wer shall pa)' the amount of all mortgage inwrance premiums in the
• manner pn+yrded under paragraph 2 hereof.
Any am+arnts di.h~trsed M• 1 ender pursuant to this paragraph 7. wuh rnterest thereon. •sh;dl hecunte additi++nal
in+lehredness ++f Itr+rr++wer ucured by this Murtgagr. l'nlrs. &+rruwer :utd I ender agree tr. other term. ++f paymrnt..uch
antr+unh shall t+e payahlr up++n nt+tice fn+m I ender to B++rr.+++et reynesting p:ryntent three++f.:utd sh:dl I+ear interest from the
date of +li.hursemrnt at the rate pay:,hle fr.+m time to time +at uutst:utdine principal under the N++te unless payment of
. interest at such r:de woul+l F+r contran• t.+ applicahk law. in which event such amt+ums shall hear iriterCSt ai thg )tighcst talc
permissihlr under applicahlr IaN~. Nothing a+ntaine+l in this paragraph 7 shall require 1 ruder to incur any expense or take
.utv action hereunder. ~ '
R. Inspection. Linder may malt ur cause to f+r m:ule reasonable entries upon and inspections ++f the Property. pnvidrd
that 1 ender sh:dl give B+trrower notice prior to any wch impectian specifying reasonable cause therefor related to Lender's
utterest in the Property.
9. Condemnation. The proceeds of any ward ar storm for damages. direct or cunscyurntial. in conncclion with ans•
condemnation ar other taking of the Property. ++r part thereof. or for rnm•eyance in lieu of condemnation. art hereby as.igned
and sh:dl t?e paid to Lender.
In the eyrnt of a total takit+g of the Pmprrty. the pro~~-CJs shall Ix applied to the soots secured by this \fortgag~.
with the excess. if any. paid to Borr++wcr. In the- event of a partial taling of the Property. unless Borruwcr :md T.cnder
otherwise agree in w•rilin~•. there ,hall he appiicd to the sums secured by this Morlgagr such prolu+rtion of the proeredc
ac is equal to that pn+p++nion which the amount of the atm. sr,ured M~ this \tortgagr intmrdi;gely prior to the date of
taking bran to the fair market valor of the Property immediately prior to the date of taling. ++ith the`h:rlance of the proceeds
paid to $ormwer.
If lilt Property is :+handonr:f by Borrower, ur if. after notice by I ender to Burr.+wcr that the rnndemnor offers to make
an awanl ur settle a claim for damages. &+rruwer fails h+ reslx+nd to 1 ender ++ithin Zf1 days after the dolt such nuticr is
mailed, Lortdrr is aulhori-red to rnllect and apply the prucrrdc, at Lender's option. either t~~ restoration or repair of the
Proiten)• c+r to the runt. s;•cund by this Mortgage.
l'nlres Lcndcr and Born++yer othcrw•isr agrcc in writing. any >uch application of pn+cred+ H+ principal shall not extend
or postpone the due date of the manlhh• inst:dlmrnts referred to in paragraphs 1 :end hereof ar ch:urge Ihr amount of
wch inctallmcnts.
10. Borrower Not Released. Extension of the time for payment or modification of :rmorti~ation of the sums crcured
M• this Mortgage granted M• Lcndcr to am• successor in interest of Borrower shall not operate to release. in am• manner.
the liability of the original Borrower and &trmwer's successors in interest. Lender shall nut hr required to commence
pr+?c~•cdings against such wcccsu+r or rcfusr to c~tend time for payment or otherwise modify amortiraNun ~+f the sums
secured M• this M+~rtgagr by reason of any demand made by the original Burn++ser and Burrower s vrcceson in interest.
I1. Forbearance by Lender \ot a Waiver. :1ny forl+carutce by 1 ender in rscrrisinL am~ right or remedy hereunder. or
othert+•ise afforded by applicable law. shall not tee a w;tiver of ar preclude the rxrrcise of :rm~ such right or remedy.
The procurement of insurance or the payment of lases .+r other liens or charges by I.rnder shall not hr :r w:riyer rf I.cndir's
right to accelcratr the mautrih• of the indehtrdnrss se~:nrrd by this !lfortgage.
12. Remedies ('umulalive. Alf remcdirc pn»ided in this ~lurtgagr arc distinct and cumulative to :uty ++ther right or
remedy under this Mortgage or afforded by law .+r ryurty. and may Fx evrrciscd concurrently. independently or succesiyeh.
13. Successors and Assigns Bound: Joint and Seteral Liabilih: ('options. The cr»•enants and agreenunt. herein
~ contained shall hind.:md the rights hetrundcr .hall inwe to. the re.prctiyr strccrssurs anJ assigns of 1-coder :rod Borruwcr•
subject to the provisions of paragraph 17 hereof. :111 covenants :end agreements of Borruwcr shall Ix: I++int and several.
i The captions and heading. of the paragraphs of this ~lurtgage art for a+nycniencr only :rod art nut to hr rrsrd to
~ interpret or drfinr the provision Inreof.
14. \otire. Except for any notice required under ;rpplicaMr law t++ he gi+•en in another manner. /a1 auy notice to
Borruwcr provided for m this Mortgage shall t?r given by mailing such notice M crrtificd mail addres.ed to Burrower at
~ the Pn+prrts• Address ur at wch other address ac &+rn+wcr may desigrtatc h+• notice a+ 1 ender as pnn•ided herein. :+nd
Ihl am notice to I.rndcr shall txx given M• certified mail. return receipt requested. ?r I ender', address stated herein or to
such other address as I.endrr mad ~drsignate M notice to Borruwcr as provided hrrern. :~n+• notice provided fur in this
~ ~turtgagr shall Ix' deemed to have t+rrn gi~•en to Burn+vier or 1 ender ~+hrn goers in the manner designated herein.
I5. Uniform ~tor11;•rge: Governing Law: Seyrrabilih. This form of mortgage combines uniform covenants for national
use and nun-uniform covenants with lintite.l yariatiuns by junsdreti.+n t.• con.nnrir a unifornt secnntt• instnnnent covering
real pmprrtc. This Mortgage sha!! t+e L++sented by the law of the iorisdirti++n in which the Property is Irkatrd. In the
event that an}' provision or clause of this 1lortgagc +:r the \ute contli~ts with :rpplicahlr law. such conflict shall not affect
other provision. uf.this '~furtgagr ur the \ute which c:ut Ik gryen etTe.t ++i!hout the amtlicting pre.vision. and to this
end the provision of the Mortgage and the \ute art decl:urd to f+e sc+•erahk.
16. Borrower s ('opy. Borruwcr .hall hr furnished a cunlurnted col++' of the \ote and of this ~turtgagc at Ihr time
of eseartion ar after retardation hereof.
17. Transfer of the Property: Assumption. If ali ur :un ~.rrt of the Property ur an interest therein is s,dd ur transferred
by BOrfl+wer without Lender's prior written tansent. esauJing tat the creation of a lien ur encumhranec sufx+rainate to
this Mortgage. Ihl the creation of a purchase none. .ecuriti interest for household appliances. Ice a tranfer by devise.
dcstent ur by operation of la++ upon the death of a i~•int tenant or td? the grant of :+nc leasehold interest of three years or Ices
nut containing an option to purchacr. 1 rndrr mas. at Lcndcr', option. declare all the wms tircured by this \lartgage to I?e i
rmmediatels• due and payahlr. 1 rndrr shall hate w:uycd .nth rptian n• accelerrtr if. prior to the sale or transfer. Lender !
:end the person to whom the Prc~l+eny i, to F+e sold ur tramferred reach agrermrnt in writing that the credit of wch person
i. satisfacton to I.rnder and that the interest payable un the wms ,eluted by this ~fortYagc shall be at such talc ac l.endcr
shall request. If Lcndcr hoc waived the option to atceler;etc provided in this p:uagraph 17. and if Borrower's successor in
interest has executed a written assumption agrecntcnt accepted in writing h}• Lcndcr. Lender shall retrace Borrower from all
obligations under this Mortgage and the Notr.
If I ender exercises such uptic.n to accclrratr. 1 rndrr shall mail Borruwcr notice of acceleration in accordance with
paragraph 14 hereof. Snch notice shall pruvidr a prrirxl of nut Iecs than In doss fn+m the date the notice is mailed within
wfiich Borruwcr may pay the wms detlare+l due. If Burrower fails to pay sorb sums prior tr. the expiration of such period.
I.cnder may. without further notice ur +lentand on Borrower, im•ole any rentrdics prrmrttrd by paragraph 1 R hereof. ~
Nom-UtvtFOtrM Covr~x:+tv-ts. Borrower and I ender further an•rnant and agrcc as follows:
18. Acceleration; Remedies. )Except as prot-ided in paragraph 17 hereof, upon Borrower's breach of any covenant or ~
agreement of Borrower in this Mortgage. including the cotenants to pay when due am• sums secured by this Mortgage. Lender
prior to acceleration shall mail notice to Borrower as prot•ided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure such breach;l3) a date. not less than 30 da}~ 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. The 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 defauk or any other defense of Borrower to acceleration and foreclosure. If the breach is riot cured on
or before the date specified in the notice. Lender at Lender's option may declare all of the sums secured by this Mortgage to 6e
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 foreclosurc..including. but not limited to. reasonable attorney's fees.
and costs of docomentary evidence. abstracts and title reports.
19. Borrower's Right to Reinstate. Notwithstanding' Lender's acceleration of the sums secured by this Mortgage.
forrower shall have the right to have arn• pruceedtngs begun by Lcndcr to enforce this Mortgage discontinued at any time
a~x 339 PEE 575
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