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Lender's written agreement or applicabk law. Borrower ahall pay the amount of all mort~a~e Iqsurance pc+enai~mt in the
manne~ provide.i under paragnph 2 hereof.
Any amounts disbursed by Cender pursuant to this paragnph 7, with interat thereon, shall become additional
inciebtednsss of Borrowe~ secured by this Mortgage. Unless Borrowc~ and Lendsr agne to other terms of payment, such
amounts sha11 be payabk upon notice from Ltnder to Borrowe~ rcquesting payment thereof. and shall bear [nterat from the
date of disbursement at thc rate payable from time to time on outstanding principal under the Note unless payrne~t ot
interest at auch rate woutd be conirary to applicable law, in which event such amounts shall bear interest at the hi~hest nte
permiuible under applicable law. Nothing co~tained '+n this paragraph 7 shall nquire Lender to incur any espenae or take
any action hercunder.
8. Iaspectbn. Lender m:y make or cause to be made reasonable entries upon ard inspections of the Property, provided
that Lender shall give Borrower notice prior to any st?ch inspectioo specifying rcasonable caux therefor related to Lendet's
interest in the Property.
9. Coedemnstbn. 'fhe proceeds of any award or claim for damages, direct or consequential, in connettion weth any
eondemnation or other taking of the Property, or pan thereof, or for conveyance in lieu of condemnation. are hereby assigned
and shall be paid to Lender.
in Ihe event of a total taking of tht Prope~ty, the pcoceeds ~hall be applied to the sums xcurtd by this Mortgage.
with the excess, if any, paid lo Borrower. In the event of a partial taking of tht Propeny, unless Borrower and I.ender
otherwice agrce in writing. therc shall be applied to ~he sums securcd by this Mortgage such proportion of the proceeds
as is equa! to that propostion which tfie amount ai tfie sums xcured by thi3 Mortgage immediately prior to the date of
taking bears to the fair market value of thc Property immediatety prior to the date of taking, with the balas?ce of the proceeds
paid to Borrowt~.
If the Property is abandoned by Borrawer. or if. after notice by Lender to Borrower that the condemnor of~en to make
an ~ward or settle a claim for damages, Borrower fails to rrspond to Lender within 30 days after the date such notice is
m~iled. Lender is authorized to collect and apply the proceeds. at I.ender's option. either to restoration or rcpa'sr of the
Property or ta the sums stcured by this Mortgage.
Unlesz I.ender and Borrower otherwise agree in writinc. any such application of procetds to principal shall not extend
or pcxtpont the due date of the monthly installmcnts referred to in paragraphs 1 and 2 hereof or change tfie amount of
such installments.
10. Earrow~er Nol RekASed. Extension of the time for payment or modilicatian of amortiution of ihe.sums securcd
by tfiis Mortgage granted by [.ender te any successor in interest of 8orrower shall not operate to release, in any manner,
the liability of the otiginal Borrovrrer and Borrower's st~cceswrs in interest. i.ender shatl not tr requited to commtnce
proceedings against such successor or rcfuse to extend time for payment or otherwise r~iodify amoKization of the surts ~
secured by this Mortgage by rcason of any demand made by the original 8orrower and Borrower's successors in interest.
11. Forbeuame by Lsnder Not s Walyer. Any forhearance by Lender in~txcrcising any right or remedy hercunder, or
~therwise afforded by applicable law, shall not tx a waiver of or. preclude the exercix of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of i.ender's
right to accelerate the maturity of the indebtedness secured hy thi~ Mortgage.
l2. Remedks Cun~uladve. Alf remedits provided in this Mortgage arc distinct and cumulative to a~y other right or
remeJy under this Mortgage or afforded hy law or equity. and may be exercised concurrcntly. independent{y or suectssivtly.
13. Successors and A~i~us Boued: Joint and Several ~.iabjllfy: CaptbRS. The covenants and agreements hercin
containeJ shall hind, and the rights hercunder shall inure to. the resp~ctive successors and assig~s of Lender and Botrowtr,
subject to the provisions of paragraph 17 hereof. All corenants and agreements of Borrower,shall be joint and uveral.
The captions and headings of the paragraph~ of this Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notke. Except tor any notice required und~er applicable law to be given in another manner. (a) any notice to
; Borrower provided for in this Mortgage shali be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by ~otice to t.ender as provided herein, and
(bl any notice to Lender shal! be given ~y certified mail. return receipt requesttd. to I.ender's address stated hercin or to
Eucfi otfier address as Lendcr may designate by notice to Borrov?er as provided herein. Any notice provid~d for in tbis
Mortgage shall be deemed to have been given to Sorrower or Lender wfien given in the manner designated herein.
15. Uniform Mort~age: Gorernin~ Ia~: Strembility. This form of mortgage combiaes uniform covenants for national
use and non-uniform covenants with limited variations by jurisciiction to constitute a uniform secarity instrument covering
real property. This Mortgage shalt be governed hy the law of the jurisdiction in which the Property is locat=d. In the
f event that any provisio~ or clai+se of this Mortgage or the Note conRicts with applicable law, such conflict shail not aHect
other provisionc of this Mortgage or the Note which can be given effect without the confticting Qrovision, aad to this
; end the provisions of Ihe Mortgage and the Note are declared to be severable.
~ 16. dotrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the timt
~ of execution or afre: recordation hereof.
17. Trsnsfer oi the Property: Assumption. if all or an}• part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior writ:en consent, excluding (al the crcation of a lien or encumbrance subordinate to
this Mortgage. (b} the creation of a purchase money ~ecurity intcrest for houxhold appliances. (c) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (d) the grant oE any leasehold int~rest of three yean or less
not containing an option to purchase, Lender may, at Lender's option, declare all the sums secured by this Mortgage to b~
immediately due and payable. Lender shall have waived soch option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Properry is to be sold or trans(erred reach agreement in writing that the credit of such person
~ is satisfactory to I.enJer and that the interest payabte on the sums secured by this Mortgage shail be at such rate as Ltnder
shatl request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
~ interest has executed a written assumption agreement accepted in writing by Lender, Lender shall ydease Borrower from all
obligations under this Mortgag~ and the Nott.
if Lender exercixs such option to accelerate, [.ender shall mail Borrower notice of acce{tration in accardance with
p paragraph 14 hereof. Such notice shall provide a period of not iess than 30 days from the date tht notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to ihe eapiration of such period,
Lender may, without further notice or demand on Borrowcr, invoke any remedies permitted by paragraph 18 hereof.
~ NoN-UtvtFORwt Covex~NTS. Borrower and Lcnder funher covenant and agree as follows:
' 18. Accelerataa; Remedks. Except as providcd io parag~ph 1'7 herec+t, epon Eomowst's breach ot ssy coreaaut or
F sgreemcat of Borrowes ~n tbis Mortaa6e, incindir~ the corenants to pay whe~ dne aay wms secNred by N~ Mort~a~e, Lt~der
prior to sccckraUon s6aU mail notke to Bormwer as provided in para6raph 1~ hereot specftyi~: (1) t~e bresc~; (2) tbe aetios
, required to cnn suc6 brach; (3) a dste, not kss than 30 days from the date tlee eotke is ~nafkd to dorrawer, by w~kL sacl~
breach mwR be cured; snd (4) thst failnrc fo cure wch bnach on w bttore tbe date specl6ed b tbe sotiee ssy res~k 1s
accekrntioa ot ths sams secured by tbis Mortaaec. foreciosvre by ~ndicial prt?ceedie~ aad sak ot tbe Property. 'Itie ~otke
~ shall further lnform Borrosrer of Ihe right to rciastate after sccekrsl~on and the ~ht to arert ia tbe Eoreciossa p~oceed~
~ the rwa-e:islence of p defaolt or any Mher dtfense ot Bonower to sccekratfon snd foreciowre. if tbe brescM !s oo! tma ~
or befon tbe date specifisd 1a the notice, Lende~ at Leoder's option rt~ay deciare a11 of the w~s sec~red t1~L Mort~a~e N be
~ immedhtdy due and pay~ble rritbont tn~eher demsad and aesy fomlose th4 Mortaa~e by ~utikW pweeedmt. I~de~ d~ai
? be eetitkd to colkct f~ s¦cb proceedin` aU espeases ot torccbsure. includin~, bot not Umited to, rcarwoaWe attoneY's fas,
and costs of docomentary e~idsnce. abstrscb aad titk reporb.
19. ~orroae~'s Ri~`t to Reiastate. Notwithstanding Lender's a~ceteration of the sums securcd by this Mortgage,
Borrower shall have the right to have any proceed'+ngs begun by Lender to enforce this Mottgage discontinued at any time
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