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I.esd~~'s writtea a4reeanent or applicabk law. Borrower shall pay the amount of all mortgage insuranoe premiums in the
maane~ providod unde~ parsaraph 2 hecoof.
~ My amounb disbuned by I.ender purswot to tha paragrAph 7, with iaterest theroon. shall become additional
i~debtedaas of Bormwer secured by this Mortgage. Unless Borrower and L.ender agrce W othe~ terms of paymen~ wch
amounb shall be payabk upon notice frwn Lende~ to Borrowe~ roquesting paymeot theroof. a~d shall bear interest from the
dste of dhb~usaa~t at the rate payabk from time to time on outatu~ding principal uader the NMe unkas payraeut of
i~terat at such rate would be contrary to applicabk law, io which cvent such amounts ahall beu inte~est at the hi~t nte
permita~'bk under applicabk law. Nothing contained in this paragraph ~ shall require Lend~ to incur aay expeose ot take
aey actioa 1~ereunder.
e. I~ceffo~. LendGr may make or cause to be made reasonable entries upon and inspoctions of the Propetty. provided
that Lender sha11 aive Borrower notice prior to any such inspoction specifying rcasonabk cause thercfor related to Lender'a
interest in the Property.
9. Co~dsawdoa. The pro~xeds of any award ar claim for damages, direct or consequenti:l. in connection with any
condemnation or other taking of the Property. or put thercof. o~ for conveyance in lieu of condemnation. are hee~eby assigaed
a~d :hall be paid to Lender.
Ie Ihe eveat of a total taking of the Propeny, the proceeda shall be applied to the sums secured by this Mortaage,
with tha excess. if any, paid to Borrower. In the event of a parlial taking of the Property. unless Borrowe~ and Lende~ ~
otherwise sgr~e in writing, there shall be applied to the sums sxured by this Mongage such proportion ot the procecds
as is equal to that proportion which the amount of the sums secured by this Mongage immediately prior to the date of
talcing bears to the fair market value of the Propeny immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abando~od by Borrower. or if, after notice by I.ender to Borrower that thc condemnor olfers to make
an award or settk a claim for damages, Borrower fails to respond to Lender within 30 days after the date such ootice is -
maikd, Lender is authorized to collect and apply the proceedt, at i.ender's option, either to rastoratio~ or repair of the
Propeny or to the sums securcd by this Mort~tage. ~ .
U~las Lender and Bonower othenvise agrce in writing, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hercof or change the amount of
such installments. .
10. Borrower Not Released. Extension of the time for payment or moditication of amortization of the sums securcd
by this Mortgage granted by Lender to any successor in interest of Borrowe~ shall not operate to release, in any ma~ner, ~
the liability of the original Borrower and Bc~rrower s successors in inteoest. Lender shall not be reqz~ired to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums •
secured by this Mortgage by reawn of any demand made by the original Borrower and Borrower's successors in intercst.
11. Forbearance by I,ender Not a Wsiver. Any forbearance by Lender in exercisiag any right or remedy here~mder, or
otherwise af~orded by applicable law, shall not tx a waiver of or preclude the e~ercise of any such right or nmedy.
The procurcment of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate the maturity' of the indebtedness secur+ed hy this Mortgage.
12. Remedks C~mubfbe. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or successively.
l3. Successors a~d Assi~es Bouad; Joint aad Severd i.iab~Kty; Captions. The covenants and agreements hercin
co~tained shall bind, and the rights hereunder shall inure to, ihe respective successors and assigns of Lender and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
'il~e captions and headings of the paragraphs af this Mongage are for convenience only and are not to be u~ed to
interpret or define the provisions hereof. ~
14. Notice. Except for any notice required under applicable law to be give~ in another manner, (a) any notice to '
Borrower provided for in this Mortgage shall be give~ by mailing such notice by certified mail addressed to Borrower at ~
the Property Address or at such other address as Borrower may designate by hotice to Lender as provided hercin, and
(b) any notice to Lender shall be given by certified mail, return receipt requested, to I.ender s address stated hercin or to !
such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be dcemed to have been given to Borrower or I_ender when given in ihc manner designated herein.
' l5. Unifona Morig~e; Governin~ Law; Severab0ity. This form of mortgage combines uniform covenants for national
E ux and non-uniform covenants with limited variations by jurisdiction to corutitute a uniform security instrument covering
~ real property. This Mortgage shall be governed hy the law of the jurisdiction in which the Property is located_ 1n the
, event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not atfect ~
~ other provisions of this Mortgage or the Note which can be given efCect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note .are declared to lx sevorable.
~ 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this iNortgage at the tim
of execution or after recordation hereof.
17. Transfer of tbe Property; Assumptioo. if all or any part of the Property or an interest thcrcin is sold or transferred
by Borrower without I.ender's prior written consent. excl~ding (al the creation of a lien or encumbrance subordinate t~
this Mortgage, (b) the creation of a' purchase money security interest for houxhold appliances, (c) a transfer by devise.
descent or by operation of law upon the death of a joint tenant or (di the grant of any leasehold interest of three years or lecc
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 ha~ •~vaived such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at s~~ch rate as Lender
shall rcquat_ Tf I_ender 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 shaU release Borrower from a~'
obligations under this Mortgage and the Note.
If i.ender exercises such option to accelerate. Lerider shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not las than 30 days from the date the notice is mailed within
~ which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such periocl
~ Lender may, without further notice ar demand on Horrower, invoke an}~ remedies permit~ed by paragraph 18 hereof.
~ Nort-UNtFORt?t CovFtverrrs. Bonower and Lender further covenant and agrce as follows:
~ 18. Accderatbn; Remediea. Esce as ro~ided In ra 17 henwf~ n y
~ pt p para~ ph pon Borrower's breach of an coreoant or
t a~reemeot of Eorrower ia t6is Mort;a`e, inclndin~ tbe covenanfs to pay when dne any snms aecnred by this Mort=s`e, Lender
' prbr to accdentioe s6aU mait dotice to dorrower as provided in paragrsph 14 bereof specifyina: (1) the 6resch; (2) tbe action
` req¦ired to core soc6 breac6; (3) a d~e, not less t6an 30 days from tbe date tbe notice b mailed to Borrower, try w6k6 snch -
~ brescb mmt be care~ asd (4) t6at [ailnre to cnre snch breacb o0 or before the date speci6ed ia the ootke mq raeit in
~ soeekratioe ot tbe soms secared by this Mortga~e, foreclosure by jndicial procecdioa aod sale of tbe Pruperty. 7be notke
~ sball fort6er inform Eorrower ot t6e ri6bt to rei~hte dter seceleration aad tbe rig6t to assert in t~e forcclosnre pruceedieg
~ tbe soe-e:istence of a defauk or aoy dbcr dcten~e of Borrower to accekration and forecbsnre. If t6e breach B aot cond oa
or before t6e date spcci6ed io t6e noHce~ Lender at Lende~'s option may deciare a0 of t6e soms secured 6y th4 Mort~e to 6e
~ immedittely dae and payabk wklwnt furtber demand aad msy forcclose t6ts Moria~e b kid
be eatitled to collect Es suc6 i a9 e y~ P~. Leader sbaq
~ proceed n` ~ensa of foreclosune, inclndiua, but aot limited to, reasooabk attorsey's fea.
aed costa of docenxntary evideace, abstracts sad tftle roporis.
~ 19. Eormae~'s Ri~6t to Reimtate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage,
~ Bortower shall have the right to have any proceedings hegun by Lender to enforce this Mortgage discontinued• at any time
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