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Lende~ s written agreemen~ or applicable law. Borrower shall pay the amount o( all mort~aje insurance pttnfiuihs in the ~ ~
manner provided under paragraph 2 htrcof. j
Any amounts dishurscd by I_ender pursuant to this paragraph 7, with interest thereon, sfial! btcome additiona) a
indebtedness of Borrower secured by this Martgage. Unless •Borrower and l.e~der agrer to other terms of payment, such
amounis shall be payable upon natire from Lender to &~rrower requeuing payment Ihercof. and shal) bear interest from the
date of disb~~rsement at the rate payable from time to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary to applicable law. in wt~ich event such amounts shall bear interest at the higtxst rate
permissible under applicable law. Nothing containcd in this paragraph 7 shall require Cender to incur any expense or take
any action hereunder.
8. lnspectiott. Lender may mak~ or caust to be made reasonable entries upon and ins{xctions oi the Praperly, provided
that I_ender shall ~ive Borrower ootice prior to any such inspection specifying reasonable cause therefor related to Ctnder's S
interest in the Property. '
9. Condemnatbn. The proceeds of any award or claim for damages, direu or ronsequential, in connect~on with any i
co~demnatio~ or other taking of the Property, or part tfitrcof, ar for conveyance in lieu of condemnation, are hereby as~igned
and shall be paid to Lender.
in the event of a total taRing of the Propeny, the procccds shall be appfied to the c~~ms secured by this Mortgage.
with the exctss, if any, paid to Borrowec. In Ihe event of a partial taking of the Property, unless Borrower and t.ender
otherwise agrce in writing. thtre shall be appliod to 'the sums secured by this Mortgage such proportion of the pra,ee3s
as is equal to that proponion which tht amount of the sumc secured by this Mortgage immediately Qrio~ to the date of
taicing bears to the fair market value of the Property immediatety prior to the date of taking. with the balance of the proceeds
paid to Borrowtr. _
lf the Propeny is abandoned by Borrower. or if. aftet nntice by Lender to Borrower that the condemnor offtrs to makt
an award or setNe a claim for damages. Borrower fails to respond to I_ender within 30 days after the date such notice is i
mailed. [.ender is authoriztd to collect and apply the proceeds. at i.ender's option, either to restoration or repair of the _ E~
Property or ~o the sums secured by this Mortgage.
Unless Cender aad Borrower otherw+u, agree in writing any such application of proe~eds to .principat shafl not txtend i ~
or postpone thP due date af the monthly installmen~s referred to in paragraphs 1 ar.d 2 hercof or change the amount of
such installments. s
10. Borrower Not Refeased. Eatension ot the time for payment or modihcation of amortization of the sums secured ~
by this Mortgage granted by [_e~der to aRY successor in interest of BorTOwer shall not operate to reteau. in any manner,
the liab~lity of the original Borrower and Borrower's succescors in interest. I_ender shall not t~e required to commence
proceedings against such successor or refuse to e+ctend time for payment or otherwise modify amortization nf the sums
secured by this Mortgage by reason of any demand made by the oriqinal Borrower and Borrower s succescorc in intertst. ,
I1. Forbean~ce try I.ender Not a Waiver. Any forhearance by i.ender in exercis+ng any right or remedy hereunder, or ~
otherwise afiorded by applicahle law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the ~ayment,of tazes or other liens or charges by Lender shall ~ot he a w~aiver of Lender's
right to accelerate the maturity of the indebtedness cecured hy this Mortgage.
. 12. Remedies Cumulative. All remedies provided in thic !~1~rtgagc are distinct and cumulative to any other sight or j
remedy under this Mortgage or afsorded hy la~v or equiry. and ma~~ he exercised concurrenlly, independently or succeuively.
13. Successors snd Assigns Bouod; Joint and Se~•era! (.i~biiity; Captbns. The covenants and agreements herein
contained sfiall bind, and the riRMs fiereunder shall :nure to. the respective succeaors and assigns of Lender and Barrower.
subj~ct to the provisions of paragraph 17 hereof. All covenaats and agreementc of Borrower s4~a14 be joint and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only and arc not to be uud to
~ interpret or define the provisions hereaf.
; 14. Notice. Except for any notice reqnired under applicabie iaw to be given in another manner, (a) any notice to
` Borrower providtd for in this Mortgage shall t~e given hy mailing cuch notice by certified mail addressed to Borrower at :
~ - the Property Address or at such other addresc as Bormw•er may designate by notice to Lender as provided herein, and ;
(b) any notice to Lender shall be given by certified mail. return receipt requested. to [.ender's address stated herein or to
such other address as Leoder may designate by nMice to Borrower as provided herein. Any no~ice provided for in this
Mortgage shat) be deemed to have been given to Borrowcr or l.cnder when given in the manner designated herein.
1S. -Uniform Mat~e; Go:ert~ina I.~w; Se~et~biliry. This form of mortgage combines uniform covenana for natiunal
~ use and non-uniform covenants with lim~ted variations by ~urisdiction to constitute a uniform security irstrument covering
~ reat properiy: The state and ia:a{ laws applicable to this Mortgage sha11 be the laws of the jurisdiction in which the Pr~perty is
; located. The foregoing sentence shall not limit the applicability of federal law to this Mortgage. [n the event that any '
~ provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions ~
of this Mortgage or the Note which can be gir-en efiect without the conflicting provision, and to this ond the provisions of the ~
; Mortgage and the Note are declared to be severable.
16. Bocrowet's Copy..Bocrowet shall be fumishcd a conformed copy of the Note and of this Mottgage at the time of ;
` execution or after recocdanon herea£ ;
i 17. Truafrr of the Peoperty; Aasumpcion. If all or any patc of the P~operry or ~n inccrest thcrcin is sold or transfcrnd by ~
~ Boaower without Ltndei s prior .rcitten consent, ezcluding (a) the crcauon of a lien or encumbruxe subordinate to this ~
' Moregage. (b) che creation of a purchase money secunty u?cerest for household appliances, (c) a craeufer ~by devise.
~ descent or by opcration of law upon the death of a joint tenant or (di thc grant of any leasehold interest of three years or less ;
; not containing an option to purchase, I.ender may. at I.ender's option, de~lare all the sums secured by this Mortgage to be
~ immcdiately due and payable. Lender shall have waived such option to accelerate if. ptior to the sale or transfer. Lender
~ and the person to whom the Prc~perty is to be sold or transferred reach ;~greement in writing that the credit of such person
; ~s satisfactory to Lender and that the int`erest payable on the sums secured by this Mongage shall be at such rate as I.ender
shall tequest. If Lendtr has waived the option to acceierate provi~ed in this paragraph 17, and if 8orrower's successor in
interest has executed a written assumption agreement accepted in w~iting by Lender. Lender sha11 refease.Borrower from ali
obligations under this Mortgage and the Note.
' lf I.ender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from ~he date the notice is mailed within
, which Borrower may pay the sums decla~ed due. If Borrower fails to pay s~+ch st~ms pTior to the expiration of sucfi ptriod,
~ender may, without. further notice or demand on l3orrower, invoke any remedies permitted by paragraph 1R hereof.
Norv-UtviFORM CovEH~tv-rs. Borrower and Leoder (urther covenant and agree as fotlows:
18. Accekratioe; Remcdks. Except a6 p~ovided ia pacagraph 17 hereof. upun Eorrower's bnscb of any eovesaat or
agreement of Borrower ia this Mortgage, including the covenanls to pay when d~e snr sums secured by thls Mortga~e* Leader
prbr to sccekntba s6all mail ootke to Borrower is provided in pars`raph 14 hereot specifyin~: (1) tbe bnach: (2) t~e actios
required to cure sne6 brescb: (3) a dste, not las iban 30 dars fmm the datt tl~e noC~ce ls malled to Borrower, by ~+l~ich aKy
breach must bc cured; aad (4) that tailnre to cure ~suck breach oa or before the d~e speclfied i~ t6e ootkt may raal~ is
•ccekntion of tbe snt~ mured by this Mo~tgage. forcclosun by judicial proceedia~ and sale of the Property. 'iUe natke
stiall furthet iatorm Eorrower of tbe ri=ht to reinstate after sccsleration asd tbe ri=ht to ~ssert in t~r foreclowrs ptoceedbK -
tl+c ao~-existeace ot s detaait or any othrr defense o[ Borrower 1o accekntfoa and foreclosure. It tbe breacb ti oot cnred oe
or be[are the dste specified ia the aotice. Lender at Gende~'~ optbn may declue a!1 oE tbc €nms securcd by thk Mort=a`e b be
im~oediately dne aad-Pay~6ie r?ftbout fnrther demsnd and n:ay toreclose t6b Mortp~e by judkial peocetdiu~. I.ender dull
be eatitkd to coUtct iu secb proceedi~K s~ eapeosa of Eareclosure, dacludiua. brt not Uoifted to, natonsbk ittosoe)'s tees,
sad costs oE docaa~entsry evideoce, abstiscts and titk reports.
l9, dorrowe~'s Rf~6t to Reiustate. Notwithstanding Lender's acceleration of the sua~s secured by this Most~age;
Borrower shall ha~e the right to have any proceedings txgun by Lender to enforce this Mortgage discontinued at_any time
. B~~K c~[!0 PACE ~C,71
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