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ender'c wriucrt agreement or :tpphc.rhlc {aw. BOriower shalt pay the anuamt of all mortgage insuran~c premiums in the
m:mner pr.+s•ided under paragraph 2 hereof.
:~m• amounts dishursre! by Lender pursuant a+ this paragraph 7. with intrust thereon. shall herantc additional
indehtednr,s .+f Borrower secured M• this Mortgage. t'nlr„ Borruurr oust 1 rn.ler agree to other Icrmc of payment. wch
amounts shall he payable upon nt,tirc from I rrtdcr to B..crosser uyuesting payment thereof. and shall l+ear imrrest fmm the
.late of di,hursemero at the rate payable frc+m time to time on outstanding principal under the Note unless payment of
interest at such rdr wotdd he a,ntrary to applicable la?v. in which csent ouch amounts shall Fx:ar interest at the highest rate
permissible under applicable laN•. Nothing contained in this paragraph 7 shall require lender to incur am• expense or take
any action hereunder.
8, lnspeetion. Lender may make or cause to he made rcaconahle entries upon and incpectionc of flee Property. provided
that 1 ender shall give Borrower notice prior to any each inspection specifying rcasonahle cause therefor related to Lender's
intend in the Property. , ~ , . , , .
9. Condemnation. The pnx~~~.dA4r•'liprr4! ~1K damages, direct 88 cQtia~gtt~h~tA. in connection with any
rortdemnation or other Taking of th r.p~(fi„(~r~,,ipt for conveyance in lieu oj' rnndemnatiun. are hereby assigned
and ,hall l+r paid to Lender.
In the event of a total taking of the Pmperty. the proceeds shall he applied to the cumc secured by this Mortgagee.
with the rscecc. if am•. paid to Borrc+wcr. In the event of a partial t:+ling of the Property. unless Borrower and Lender
otherwise agree in w•ritinY. them shall he applied to the some secured hs• this Mortgage such pmportion of the proceeds
as is equal to that pmlxmion which the. amount of the cumc secured by this Mortgage immediately prior. to the date of
taking hears to the fair market yaltre of the Property immediately prior to the date of taking, ssith the hal:mcc of the proceeds
paid to Borrower.
if the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor oRers to make
an award or settle a claim for damaFrc. Borrower fail, to rc,pr?nd to Lender within ill dove after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at Lender's option. either to restoration or repair of the
Properly or to the sums secured by this Mortgage.
Unless Lcndcr and Borrower othcrw•ice agree in writing. am' such application of proceeds to principal shall not extend
or_ podpone the due. date of the monthly installments referred to in paragraphs 1 and 2 hcrcof or change the amount of
curh installments.
10. Borrower Not Released. Fstencion of the time for payment or modification of ;cmortization of the acme secured
M this Mortgage granted h_v Lender to am• atececsor in intered of Borrmcer .hall not operate to rekau, in any manner.
the liability of the ori~liy41'BbAY+we{ and Botmwrr'c surcecu,rc in interest. Lcndcr shall not he reyuircd to commence
prurecdingc against sueN~sitc'ehsi+tt~i+r''refusc to extend time for pa}•mcnt or otherwik modify amortization of the sums
secured by this Mortgage tlw~tsr+1? of am demand made M• the original Borrower and Borrower's sncresorc in interest.
t 1. Forbearance by 1F.eAder \'~f
~Vg'liver. Am• f.•rlnarancc by Lender in exercising am• right c,r remedy hruunder. c?r
othrns•ise atTurded by applicable (aw: shalt not t+e a waiver of or preclude the exercise of am• such right or remedy.
The procurement of insurance or the payment cif taxr, or other liens or charges M• Lcndcr shall not he a scaiver of I ender s s
right to accclcratc the maturity of the indehtednecc secured by this Mortgage.
12. Remedies Cumulative. All remedies pn.sided in this Mortgage are distinct and rurnulatis•r m :ucy other right or '
remedy undrr this Mortgage or afforded by I;as ar equity. and may l,e cxerci,cd roncurrcnth•. independemly or surre~siyrl)•.
13. Successors and Assigns Bound: Joint and Seseral Liabilih: t'aplions. The covenants and agreements herein
contained shall hind.:md the rights hereunder shall luau to. the rs~pectivc wccescors and assigns of 1_ender :rod Borrower.
subject to the pn+s•iciortc of paragraph 17 hcrcof. :~11 covenants and agrrementc of Borrower shall he joim and several.
The captions and. headings of the paragraph, of this Mortgage arc for convenience only and are not to l,r used to
interpret or define the pmvicionc hcrcof. ~ "
14. 1Mice. Except for any notice required under applirrhle tau to I+r given in another manner. /at any notice to
&+rrowcr provided for in this Mortgage shall he gis•en M• malting wch notice by certified mail addressed to Borrower at
the Property f~ddrc,s or at wch other address ac Borrower m:+s• de,i~n;ae by notice t.? I ender ac provided herein. and
lhl am~ notice to Lcndcr .hall F+e given by certified mail. return ureil,t reyue,tcd. to (ender', address stated herein sir to
such .,thee address as Lender may designate M• notice to Borrower as provided herein. Am' notice ptt,vidr.! for in this
Mortgage shall Ix~ deemed to have t+rert givrn to I;c?rrawrr or 1 ender when given in the manner designated herein.
15. l.'niform Mortgage; Coserning i.aw: Sescrability~. "fhi, form of mortgage a+mhincs uniform covenants for natinnai {
use and non-uniform covenant, with limited variation, h}• juri,clirtion to ronctinrte a uniform security instrument rnvering
real property. Thi, Mortgage shah l+e governed by the tau of the iuricdirtiun in which the Property i, h+rated. in the ~ ~
event that any provision or clause of this \tortgagr or the ~otr rontlirt, with appficafilc law, such ronllirt shall not affect
other pros i,ions of this Mortgage or the \'otr wfiirh ran t,r givrn rlirct without the rontlicting prcx~i,ion. and to this
end the prosi,iuns of the ~fortcagr and the \otr arc .lrclarrd to t,e severable. t
16. Borrower's Copy. Borrosvrr ,hall t,e furni,hed r.atformrd ropy of the \otr and of this T1lortgage at the time
of execution or after rcrordatiun hereof.
1~. Transfer of the Pmpert~: Assumption. If all or am p::rt of the Property or an interest therein is sold or transferred
by Born+wer without Lcndcr'~ prior written a+n,rm. rsrluding ray the creation of a lien ur encumbrance subordinate to
this Mortgage. Ihl the creation of a purchase money serruits interest for housrhuW appliances. /cl a transfer M• devise. 3
decent or hs• operation of l:rw rtpon the death .+t a jo,nt tenant .,r l.lr the grant of am leasehold interest of three yearc or ices
not rnntaining an option to purchase. Lcndcr may. at Lender', option. declare all the sums secured M• this Mortgage to be
immediately due and payable. t.endrr shall have cs:nsed ,urh option tc+ acrrlerrte if. prior to the .ale or transfer. Lender
and the perum to whom the Pmperty is A? t,e ,ol.l or Transferred reach agreement in writing that the credit of wch person l
is satisfactory to Lender ;end that the intere,t payable on the sums ,reared by this ;1ortgage chat! be at such rate as Lender
shall reyurst. If lender has waived the option to accclcratc provided in this paragraph 17. and if Borrower ti successor in
interest has executed a written assumption agreement accepted in writing M• Lcndcr. Lender shall release Borrower from all
obligations under this Mortgage and the Note. -
If Lender exercixs such option to acrrlcratr. I rndrr ,hall mail Borrower notice of acceleration in accordance with
paragraph 14 hcrcof. Such notice shall provide a period of not less than ?O days from the date the notice is mailed within 3
which Borrower may pas the some des{;+red dne. If Borrower tail, to pay such wmc prior to the expiration of such period.
Lcndcr may. without further notice or demand on Borrower. ins•ol.e am' remedies permitted M• paragraph IR hereof. s
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Nom-LiN1EORM COYEtiANTS. 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 3iorfgafe. including the cor,•enants to pay when due any sums secured by this Mortgage, Lender
prior to acceleration shall mail notice to Borrower as prosided in paragraph 14 hereof specifying: (1) the breach; (2? the action
required to curt such breach; (3! a date. not less than 30 da}•s from the date the notice is mailed to Borrower, by whk6 such
breach must be cored; and (4) that failure to cure such breach on or before the date specified in the notke may resWt in
accderation of the semis secured by this Mortgage. foreclosure by judicial proceeding and sale of the Property. The ndice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding i
the non-existence of a defauN or any other defense of Borrower to acceleration and foreclosure. If the breach is rrot cared on
or before the date specified in the notice. Lender at Lender's option may declare a0 of the sums secured by this Mortgage to be j
immediately due and payable without•further demand and may foreclose this Mortgage by judicial proceeding: Lender shop }
be entitled to collect in stub proceeding all expenses of foreclosure. including. but not limited ty;' reasonable attorney's fees.
and costs of docamentary evidence, abstracts and title reports. _ •
19. $orrower's Right to Reinstate. Notwithdandirtg (_ender c acceleration of the sums secured by this Mortgage. a
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any tithe
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