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I_rndc~'s written agreement or applirable lavv. Borrovver shall pay the amount o[ all mortgage insuraoce prcmium~ in the
man~er pruvidcd under paragraph 2 hercof.
Any amounts disbursed by I.cnde~ punua~t to ihis pa~agraph 7, with interest thereo~, shall bccome additio~al
indcbtedness o( Borrower s~.cured by this Mor~gage. Unles~ Borrower and l.ender agrce to othe~ terms of payment, such
amounls chall he payable u~n no~irc from I.endcr to Borrowrr reyuecting payment thereof, and shall bear intercst from the
datc of di~bursement at Ihe rale payahle fram time ta time an outstanding principa) under the Note unless payment of
interest at such rate wauld be contrary ~o applicable law, in Which event such amounts shall besr interest at the highest rate
permissible under applicable law. N~~thing con~ained in this paragraph 7 shall rcquire I.ender lo incur any expense or take
any action hereunder. -
8. Inspection. I.enJer may make or cause to he made reaconahle entriec upon and inspectionc of the Pro~eny, provided
thal I.enJer chall give Borrowe~ nolice priar to any such inspection cpecifying rcasonable cause therefor related to Lender's
inlcrest in the Property.
9. Coademnatbn. The proceedc of any aN•ard or claim far dama¢es, direc~ or conuquential, in connection with any
~ondemnation o~ other taking of the Praperty, o~ pa~t thereof, or for conveyance in lieu of condemnation, are hereby assigned
anJ chall br paid r~• l.ender.
In Ihe tvent of a total laking af the Properly. the proc:eeds shall he applied to the cums secured by this Mortgage.
with tF.z crcccs. if any, paid to Borr.~~•c~. In thc evcnt of ~ partial taking of the Property, unless Borrower and ~ender
oiherw~.~ ag~ee in vvri~ing. Iherc chall be applicd to the ~ums cecurcd by thic Mortgage ~uch proportion of the procetds
as ic cqual to ~hat pro~xtion w•hich thc amount of the sum. serurcd by this Mortga~te immediately priar to the date of
!aki~g hCars to the fair market valuc of the Propcrtp immediately prior to the date of taking, with the balance of the proceeds
paid tn Borrow•er.
If the Properly ic abandoned h~• Borruv--er, or if. af~e~ notice hy l.ende~ to Bormwer that the condemnor offen to make
an aw••rrd ~r settle a claim for damage~, Be~rrower fail~ to respc~nd to Lencier within 30 days after the dale such notice is
mailed. i_ender ic authoriaed Io collect and apply ~he proceeds, at I.e~der s option, either to restoration or repair of the
Propen~• or to the sumc ~ccured hy this ]1lortgage.
Unlesc I.ender and Borrower other~s•ise agree in writing. any such application of proceeds to principa) shall not extend
.,r ~xx~~ne ~hc duc date of thc mon~hl~~ installmcnts rcferrcd to in paragrapht I and 2 hereof or change the amount of
.uch inctallmentc.
10. Borrower Nol Releaud. Erlensian of the time fo~ payment or modification of amortization of the sums securcd
b~• ~hic M~,rtgage granted by 1_enJer lo anp cuccescor in imerest of Borrower ~hall not operate to rclease, in any manner,
the liabilii~• of the ori~inal Borrow•er and Rrrmw•er'c succescorc in interest_ i_ender shall not he required to commence
pr~keeJingc againu such succecsor or refuce to ertenJ time for payment or othen~•ice mcxlify amortization of the sums
cecured hy thic Mongage by rcason of an~• demand made by Ihe ori¢inal Borrower and Borrower s succestors in interest_
11. Forbearance by I.ender Nof a Waiver. Am• forhearance by l.ender in e<ercising any right or remedy hercunder, or
~+therw•ise afT~•rded hy applicable law, shall not he a waiver of or preclude the exercise of any such right or remtdy.
Thc procurement ~~f insurance or the payme~t of tarec or other liens or charges hy l.ender shall not tx a waiver of Lender's
right t~~ acrelcrate the maturity of the indehtednecs Kcurcd h~• thia Mortgage.
12. Remedies Cumulative. All rcmeelies pro~ ided in Ihic Aiortgage are distinct and cumulative to any other right or
remed~• under this Mortgagc or afTordeJ M• lau• ~,r equit~•. and ma~• he ererciced rnncurrently. independendy er successively.
13. Successun and Assigns Bound: Ioint and Se~•ersl I.iability; Captions. The covenants and ag~eements hercin
r~~mained ~hall hind. and thr riRh~c hercunder ~hall inure to. the retpeclive succeaors and assigns of I_ender and Borrower,
,ubject to the pmvicionc of paragraph 17 hereof. All covenants and agreements of Borrower ~hall be joint and several.
The raplionc an~l headingc of the paragraph~ of ~hic Mortgage are for convenience only and are not to be used to
iMrrprel or define thc provicians hereof.
14. \olice. Except for any notice reyuired under applicablc law ~o be given in another manner, (a) any notice to
Rurmw•er pn-vided tor in thia ~lortga¢e ~hall he given b}• mailing wch notice by certified mail addressed to Bormwer at
~he Propert~~ Addre~c or at cuch other addrec~ as B~~rr~~w•er ma~• de~ignate b}• no~ice to I.ender as provided herein, and
Ih) am• notire to I.ender shall he gh•en by certified mail. return receipt requected. to I.ender c address stated herein or to
~uch other addresc ac [.ender may designate br notice to Borrow~er as pra~•ideJ herein. Any~ notice provided for in this
'.11urtgagc shall Fx decmcd to havc becn givcn to Rorrowcr or Lender whcn given in the manner designated herein.
15. C'niform ?~1oARaRe; Go~erninR I.aw; Se~erability. Thi~ f~rm of mongage combines uniform covenants for national
use and non-unifurm c~~venanl~ with limited v•rriationc hy juri~dicti~n to constitote a uniform securily instrument covering
rcal property. Thi~ Mortgage shall be guverned h~• ~he law of the juri~diction in vr~hich the Property is located. In the
evcni that any provision ~r clauK: of thi~ Mortgage ~~r the Nute conflict~ v-ith applicable law, such conflict shall not afiect
~~Iher pro~•i~ii~nt of ~hi~ Mortgage or thr Notr whinc ~an Fx: gi~~en efTect without the conflicting provicion, and to this
cnJ ~he provi~ionc of the Morlgage anJ the \~o1e are declared to he severable.
16. Borrower's Copy. Borrower th~ll hc furni~hed a conformed ropy of thc Notc and of this Mortgage at the time
~~f exc-~ution or a(ter recosdation hereof.
17. Transfer of the Properl~~: Assumption. If all or am• part of thc Property or an interest therein is sold or transferred
b~~ Borrow~er withoot I.ender i prior written con~ent. excluding (a1 the creation of a lien or encumbrance subordinate to
thic Martgage. Ib) ~he creation of a purchace mone~• cecurit~• interes~ for household appliances. (c) a transfer by devise,
de~cent or hy aperation of law upon the death of a jaint tenant or (d~ the grant of any leasehold interest of three years or less
not containing an option to purchase. I.enJer ma~•, al I.ender'~ op~io~. declare all the sums secured by this Mortgage to be
~mmediately due and payable. l.ender shall ha~•e wai~~ed si~ch option te accelerate if. prior to the sale or transfer. Lender
and the person to whom the Properry iti to be sold or trans(erred reach agreement in writing that the credit of such person
ic saticfactor~- ~o I_enJer and that the intere~t payable on the sums secured by thic Mongage shall be at such rate as Lender
shall reyuest. If t_ender has waiveJ the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest ha~ executed a writteo assumption agreement accepted in writing by [_enJer. Lender shall release $orrower from all
obligations unJer this Mortgage and the Note.
if [.ender exercisec such option to accelerate. I.enJer shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Sach notice shall provide a perioci of not Iess than 30 days from the date the notice is mailed within
Nhich Borrow~er may pay the cums declared due_ It Borrower failc t~i pay such sums prior to Ihe expiration of sueh period,
l.ender may, without further notice or demand on Borrower, invoke any remedies permiUed by paragraph lA hereof.
Nox-UNiFORM CoveNeK-rs. Borrower and l.ender further covenant and agree as follows:
18. Acceleration; Remedies. Except as pro.~ided in paragraph 17 hereof, upon Eorrower's bre~ch of aay coveaant or
agreement of Borrower in this Mortga~e. including the covenants to pay when due any sums secured by thk Mort6s~e. Lesder
prior to accelerotan shWl mail notice to Borrower as provided in psragraph 14 hereof specifyin~: (t) the breach; (2) t6e actba
required to cure such breach; (3) s date. not less thao 30 days from the date the notice b mailed to Eorror-er. by whkb suc6
breach must be cnred; and (4) that failure to cure such bresch on or before the d~e apecii'ied fo the notice auy radt in
acceleralion of the sums secund by this Mortgage. foreclowre by judici~ proceedi~ and sak of tbe Property. 'ILe ootice
shall furlher inform Borrower of Ihe right to ninstate afler sccelentan and the risht to asaert In the foreclosnre proeeedie~
Ihe non-exislence of a defauk or any dher dcfense of Borrowcr to acceleratioa snd forecbsurc. lf the bresch k nM cored os
or before Ihe date specificd in the notice, Lender at Lender's option may declare atl of tht snms secured by t6b Mortia`e b be
immediately due and payablt without further demand and may foreclose thk Mortga~e bp judkid proceedina. Leoder s6a~
be eatitkd to collect in suc6 proceeding all e:peases oE foreclosurc, includin`. but aot Ifmited to, rearowbk stton~e~'s tees,
and costs of documentary evidence, abstracts and titk reports.
19. Bormwer's Right to Reiostate. Notwithstanding Lender's acceleration of the sums securcd by this Mortgage.
Bor~ower shall have the right to have any proceedings begun by l_ender to enforce this Mongage discontinued at any time
~ Adds~d~~ to Pua~rap6 15. The state and local laws applicable to this mortgage shall be the laws o( the jurisdktion in
whkh the propertv is located. The toreqoioa sentence shall not limit the applicabilitv of ( I this mort aqe.
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