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Lender's written agreement a applicabk law. Borrower shall pay the amount o[ all mortgage ittsuranoe ptwniutm in the
manner provided under paragraph 2 hereof.
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Any amounts dish?rrsed by Isnder pursuant to this paragraph 7. with interest thereat, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and tender r+etjt ,,t4. ptht:r terms o! payttxrtt. such
amounts shall be payable upon notice from lender to Borrower requesting paymentrt~~eof, attd shall bear interest from the
date of disbursement at the rate payable tram time to time an attstanding principal under the Note unless paytwettt of 1
interest at such rate would be contrary to applicabk law, in which event such amounts shall hear interest at the highest rate
permissible under applicabk law. Nothing contained in this paragraph 7 shall require Lender to incur any expanse or take
any sction hereunder.
laepeetiow. lender may make ar cause Io be made reasonable entries upon and inspections of the Properq. provided
that Lender shall give Borrower notice pricer to any such inspection specifying rcawnabk caux therefor related to Larder's '
interest in the Property. 1
Cotsdewttatebw. The proceeds at any award or claim for damages, direct or consequential, in conrtecdott with any
condemnation or other taking of the Property. or part therrnf, or for conveyance in lieu of condemnation. are hereby ataigned ,
and shall be paid to Lender. i
in the event of a to1~l 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 Tender i
aherwix agree in writing, there shall be applied to the sums secured by this Mortgage such proportion of the prooeeb
u is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Property immediately pricer to the date of taking, with the balance of the q~ooeeds
paid to Borrower.
if the Property is abandoned by Bar:ower, or if_ after notice by Lender b Borrower that the condemnor often to malts
an award ar ssttk a claim for damages. Bo•rrawer fail. to respond to lender within 30 days after the date suds notice b ~
mailed, Lender is authorized to collect and apply the proceeds. at Lender's option, either to restotration or repair o[ the ~
Property or b the sums secured by this Mortgage. i
Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shalt rWf attend I
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount o[ j
sucbr installments. _ - i
10. Harrower Not Released. Extension of the time for payment or modification of amortization of the sutras secured
by this Mortgage granted by Ixnder 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 shall not be required to cotnmenoe
proceedings against such successor or_refttse to extend timt for payment or otherwise modify atrtortization of the arms
secured by the Mortgage~by mason of atyr demand made by the original Borrower and Borrower's successors in interest.
11. Fprbearuce by Lewder Not a Waiver. Any farhearance by Lender in exercising any right or remedy hereunder. or }
oinerwix afforded by applicabk law, shad eat he a waiver of or preclude the exercise of any such right or tweedy. . ~
The procurement of insurance a the payment of taxes ar other liens or charges by Lender shall not be a waiver of Lwtder's •t
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Reasedies Ctestohdve. All remedies provided in this Mortgage arc distinct and cumulative to arty other right or
remedy under this Mortgage or afforded by law ar equity. end may be exercised concurrently, independently or wooessively.
13. Saeeessors awe AssiRws Douwd: ,7oiwt awd Severn! i.iability; Ca*tioaa. The covenant and agreements heroin
contained shall bind, and the rights hereunder shall inttr~ to, the respective successors and assigns of.Lender and Borto+rer.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jotittj and tmreral.
The captions' and readings of the paragraphs of this Mortgage arc for convenience only and are not to ik used to
interpret or deAne the provisans hereof.
14. Nafke. Paccept for any notice required under applicabk law to be given in another manner. (a) any notice to
Borrower provided for in this Mortgage shall be given by mailing such notice by certiAed mail addressed to Borrower u
the Property Address or at such abet address as Barmwer may designate by notice to lender as 'provided herein, and
(b) any notice to [.ender shall ht given by certified mail. return receipt requested. to Lender's address stated herein or to
such other address as Lender may designate by notice to Borrower ss provided herein. Any notice provided for in this
Mortgage shall be deemed Io have been given to Harrower or Lender when givrn in the manner designated ht:reiri.
1S. Uwitotrat Mortgage; GotrentiaR Law; Severability. This form of mortgage combines uniform covenants for national
use and ran-uniform covenants with limited variations by jurisdiction to constitute a uniform security itistrumrnt ooveritig
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property u located. Tn the
~ evrnt that any provision or claux of Chic Mortgage ar the Note conflicts with applicabk law, such conflict shall not attest
! other provisions of this Mortgage or the Nate which can be given etiect without the oonAicting provision. and to this
' end the provisions of the Mortgage and the Nate arc declared to be severable.
16. /orrowtts Co'y. Borrower shall be furnished a conformed cop}' of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..TrswJer of tic ho'ertr: Asstrmptiow. Tf all or any part of the Property or an interest therein is sold or transfsrred
• by Borrower without L,ender's prior written conseN. excluding (al the creation o[ a lien or encumbrance sttbotdinate to
this Mortgage, (b) the creation of a purchase money security interest for househdd appliattoes, (c) a tramfer by devise.
descent or by operation of law upon the death of a joint tenanf or fd) the grant of any kasehdd interest of three ytan of less
not containing an option to purchase; Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have v?•aived such option to accelerate if. prior to the sale or transfer. Lender
and the person to whom the Property is to be cold or transferred reach agreemrnt in writing that the credit of such person
is satisfactory to Lender and that the interrat payable on the sums secured by this Mortgage shah be at such rate as Lender
shall request. if Lender has waived the agion to accelerate provided in this paragraph 17, and if Borrower's sueoaaor in
interest has executed a written aatrmption agreement accepted in writing by Lender. Lendq shah release Borrower from all
oblyations under this Mortgage and the Note.
If Lander exercises such option to~acceterate. Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period o?f not less than 30 days from the date the notice is mailed within
which Borrower may pay the wms declared due. If Borrower fails to pay arch sums prior to the expiration of wch period.
I i,andar.may. without further notice or demand on Borrower. invoke any remedies permitted by paragraph tg hereat.
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Na+-UntFOUt?t CoveNatm. Borrower and Lender further covenant and agr~oe 8 [olbws:
lfl, Aeceieratlo~ Resedla. IPatept as *rovMed M paragraph 17 Iterett. ape >saenwas's rsatr sd atsy aweaawt at
i agrtettas¦t d Iterrr+rer r tits Mertgttge, lwelrrdiwg the covenants to psf whew doe atq saass sstarstl Iry tli Marlg~e. )<wwder
1 pristr N aeeefierstlaw niaB wsaM notke N iorr+awer as'rovf~ N Mragraplr /4 iertaf getYyings (1) fis llrweis (2) the attlerr
ragtied N tart Both rsreselq ~ • dart, wet less Atari 3R days frotw tie dsfe lie taMice r ttsaBei N >Mrtwwer. r!' wMer sttrcr
Itstaei taaA rt eared awd M drat faiiwe N etsre saes rreaei ow or retell tie hale spseifiei r lie seder tsttq aesalt lit.
t aeeskradew d dx wt•s aaewred r!' kris Mortgage. tesectowte y jttilcisl pecee~ing awtl sttk aI lire Trrlertp. 'ITtt nafita
aW itiwtier Werat llert+rwer d tie right N reiwsatle after secekratlott atssi tie right is ataert t• tie tereclsswe praettirtg
fRs aow•ed~e•a of a idsnlt er arh Hier refetsa of >torrewer N accekrMMw awtl fereeloaare. R tie rrsser it wet eased aw
er refine tie rslt s'eeifie/ r fire wotkt. lewder nt I.ewier~s eptisw rates +eelsrt r of tit sttaas seeared tg? this 1Ntefgalps It? k
iwtaeesiiately irtt ats0 payable witioat fattier demand ad rates tereeleat Hitt MorAptge ry jwdielsl M'at'teiR• T.ewd~e? stisM
re awtlAstl N eeitet V saes prreeaing aB rnperues Af tereeloswet. Mrcladiwg. rat wet ¦¦tMsi N. reaotaaMe trtturwey's lea.
awl cast at dtewaewdrf svideaae+ arstraeb awl Iitk rsMrb.
1!. Iltrnwa's Right N Reinstate. Natwithstartdinit Lender's aceckration of the sums secured by tht: Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
g~342 P~1478
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