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l.eode~`s writtea ajreemau or spplicabk bw. 8orrowir shap p~y the amount ot all mortsate inwnnce ptemiuna in tQe
maeero~ provided unde~ pa~raph 2 heteot.
Aoy amouni~ disbu~sed by I.enck~ pursuant to this pa~nph 7, with interest thereon. shall become additional
indeb~edn~ss of Borrower securod by this Mohgaae. Unless Bonowe~ a~d Lrnder aaree to dhe~ terms ot paymeM such
amounts shaq be paYabk oiwn oc+tice from f.ende~ to Horrower rcqueuina payment thereof. and shall bear ieterat frnm the
i date ot disbuntment at the nte payaAk f~om tin~e to time on ouqtandin~ priecipat under the Note unkss pa~t ot
interest at such rate would be contrary to applicabk law, in which event such amounh shall bear interat at the hi~ nte
n~~ ~u~ ~cabk law. Ndhing co~tained in this pangraph 7 shall rtqui~ Lender to u~cur any expe~ae or tata
r
R I~ecN~w. t.ender may make or ca~~se to be msck rcasa~abk enlries upon a~d inspectioes ot the pmpe~~ poovided ~
that Le~der shsfl give Borrowe~ notice prior ta any si~ch inspectioo specifyin6 ~tasonabk cawe thet~tfor rdated to La~der's
ea
interost in the Pr~operty.
C~ie~~Niow. T'1~e proceeds of any award or claim tor damases, direct or comequeatial. i~ oonnecdoa wid~ anr
coodemnation or other takina of the Propert~r, or put tAereof. or for ooeveyanoe ie lieu of oondanaatian. are hereb~r ~ed
and shall be paid to i.ender.
in the ~v~ent of a total takinj of the Pmperty. the procec~ slull be applied to the sun~s secured by this Mafia=e.
with the e~coess. if my, paid to Bornwver. Tn the event of a partial takina of the Property. unlas Bon+~w~ and Leoder
otherwiae asr~ee in rvritinit. there shall be applied to the wms secu~ed by this Mort~sge such propatioe of the prooeeds
ss is eqwl to that proport'an virhich lhc amount of thc sums sec~med by thia Mo~taaae immediatdy prior to the date ot
talcing bean to the fair marlcet value of the Property immediately prior to the date of ~akina, with the balana of the pr~ooteds
paid to Hort~arrer.
If the Propetty is abandoned by Borrower. or if. after notice by Ler~der to Bom~wer that the candemnor ot[ers to nute
an award or settk a claim for damages, 8c~rrower fails to rcspond to Lender within 30 days aher the date such notioe b
maikd. Lender ic authoriud to colkct aod apply the proceeds, at L.ender•s option. either. to ~estotation or rtpair of tUe
Propehy or ta the sums sccurcd by this Monga~ee.
Unlas Lender and Botrower otherwice agrce in writinR, aRy such application ot procetds to preecipd shall not eata~d
or postpone the due date of the monthly installments referned to in pangraphs 1 and 2 haeof or chanae the arr~ount of
such installments.
' I~• eorrower Nof Reka~cd. Extension of the time for payment or moditkation of amortiution of the sums sxured
by this Mortgage granted by Lender to any successor in intercst of Borrower shall not operate to rekase, in any manner,
the liability of the original Borrower and &mower's successors in interest. Lender shall not be requircd~ to eommence
proceedings against such successor or refuse to extend time for payment or otherwise modily amortization of the sums
sccured by this Mortgsge by reasun of any demand made by the ori~inal Borrower and Borrower's successors in intercxt.
; n 11• Fo~ean~ce bp I,e~ier Nof s Wah~er. Any forbeannce by Lender in exercising any riaht or remedy hereunder, or
othenvise aRorded by applicabk law, shall ne~t be a waiver of or preclutie the eaercise of any such riaht or t~anedy.
The procurcment of insuranoe~
jx the payrt~nt of taxes or other liens or charges by Lcnder shall not be a waiver of Lender's
right to acceknte the matunty of the indebtedness securod hy this Mortgage.
l2. Re~edks Ca~Wi~e. All remedies provided in this Mortgage a~ d'atinct and cumulative to any dher right or
remedy unde~ this Mortgage or afforded by law or equity, and may be exercised concurrentty, independently or s~euively.
' 13. Srecessors aai A~s io~~i; .~oiwt a~ Sereeal i.LbWq, Csptiows. The covenants and agreeme~ts herein
contained shafl bind, and the rights herounder shall inur~ to, the rupective suece~ors and assi~s of Leoder sod Borr~ower.
subject to the provisions of paragaph 17 hercof. All covenants and agrcements of Bonow~er shall be joiry and several.
The captions and headings of the p:ra6raphc of this Mortgaae arc for convenience only and u+e not to be used to
interpr+et or define the provisans hercc+f.
11. Notice. Except for any natice requit~ed under applisabk law to be given in another manner. (a) any notice to
Borrower provided for in this MortRage shall lx given by mailing such notioe by ctrtifled mail addrcssed to BoRawer at
, the Property Addrcu or at such dher address u Bormwer may designate by notice to i_ender as provided herein, and
(b) any notice to Lender shall be given by certi6ed mail, rcturn receipt rcquestod. to i.eader's address :tated hercin or to
such olker address as Lender may desig~ate by nc~tice to Bormwer as provickd hercin. Any notice provided for in this
~ Mortgaae shall be deemed to have ban given to Borrower or Lender when given in thr manner desianated herem.
~ 1S. U~iEors Mort~e; Co~er~ Larr. 3ev~rsbility. This form of mortgage combina uniform covenants for national
use and non-uniform covenan~s with limiteef variations by jurisdiction to constitute a uniform security i~utrument ooverina
rcal property. This Mortgage shall be Rove~ned hy the law of the jurisdiction in which the Property is located. In the
event that any provision or clause of thic Mortgage or the Note conflicts with applicabk law. such conflict shall not alfect
other provisions of this Mortgage or the Note which can be given effect wi~hout the conflicting provision. and to this
end the provisan= of ~he Mortgage and the Nate arc Jeclarcd to be severable.
l~. sorruwer's Copr. Borrower shall be furnished a conformed copy of the Note and of this Mortgaae at the time
of execution or af~er recordation hereof.
17. T~a¦~icr ot t~e Prope~tv; Assnmption. if all or any part of the Property or an interat thercin is sold or tnnsferrcd
by Borrower without L.ender's prior wrincn consent._ excluding (a? the crcation of a lien or encumbrance subordinate to
this Mortgage. (b) the creatax~ of a purchace mcxiey cecurity intercst for household appliances, (e) a tnnsfer hy devae,
dacent or by operation of law upon the death af a joint tenant or (d) ~he grant of any leasehold intercst of thrcc ycars or kss
not containing an option to purchase. Lender may, at Lender'c option, declare all the sums securcd by this Mortga6e to be
imrtKdiately due and payabk. Lender chall have v?•aived such option to accelerate if, prior~ to the cak or transfer. Lender
and the person to whom the Property ic ta be colJ or transterrcd rcach agrecment in writing that the crcdit c+f cuch person "
is satisfactory to Lender and that the interr.t payable on the sums secured by this Mortgage shall be at such rate ac Lender
shall r+equat. tf Lender has waived the option to accelerate provided in this parag~aph 17. and if Horrower's wccessor in
intercst hu executed a written a:sump~ion agreement accepted in writing by i.ender. i.ender shall rekase Borrower frc+m all
obligations under this Mortgage and the Nate.
If Lender exercises such option to acctlerate. Lendtr chall mail Borrowe~ notioe of accekration in accordancti w•ith
puagnph 14 hercof. Such notice shall provide a period of not ltss than 30 days from the date the notice is maikd within
which Borrower may pay the sums doclarcd due. It Borrower fails to pay uich uims prior to the espintion of such peric~d.
Lender may, without turther nolice or demand on 1lorrower, invoke any remodia permitled by paragraph I A hercaf.
No~r-Utv~FORM CoveHeNTS. Borrower and [.ender turther covenant and ap+ce as follow?s:
lA. Aecderatiwr, Rea~edks. Bxtept ai providal i~ ~ 17 I~ereot, tRo~ ~orrews+i's MeacM ot a~r torew~! K
ap~eewe~t of ~rower b thls Mo~aRe. i~elu~iuR t6e to~ewsts to py w~e~ ~re a~y srwis see~uei br tW~~lNort~aRe. I.e~er
prior Is sccek.sdo. ans a~.a.aiee ~o sor~o..K as ~ro~liN a~~pM bereor s~eei~~: nK rR.~r: ~I~e seti..
rqo~ b e~re wel~ weael~ (3) a~e, ~ot leu diau ~A days f~ tMe ~te the ~otice Y~ailea 1s >errower. dy wAki sreM
' Me~cA ~wt be csre~: s~d (4) tlat faqrre 1o e~e s~eA bre~el~ e~ or reta+e tl~c aate s~eel~e~ i~ tbe ~otke ~ay ns~it i~
aeceleratio~ ot tre wrs sec~ by tld~ MaisaRe. fi~selo~re b j~dkW ~ee~ a~i ak el !re rro~ertf. 71~e ~otlce
slap trrtl~er iwton~ ~orrower ot tMe ~M to rei~te after acceie~Mio~ s~ tbe ri~M Is a~e~t i~ Hie torrel~w~t rocee~
tre ~ow~e:We~ee at ~ ~etsrlt or a~f otUer ~cteuse ot eo~rower N seeekrdio~ a~i tottielawa B tre ~rac~ ts Nf c~N ~w
or betore Mie dsle qeeKe~ M tf~e ~otiee. t.esder sr t.esde.•s o*tie~ wry ~eelare aN ef el~e ~ seeNS~ i~ tW Moet~aRs a ~e
iaweii~tdy dne a~i Paysbk witl~oW 1w71~er dem~ad a~d msr f~eclae tDb Marlia~e r!' jrikW /nea~. I.eader ~I~aN
6! ~ 10 tOrtlf ` frC~'f+0t!l~IIR ~ KplwftS R< <O~llblrR. I~t~. b~f Mt Y~ffe, N, feMOM~1e sfl.?fne,Y'i felf. •
atl eo~s ot ~oe~eMary eriie~ee. s6~scts snd ~i1k rcports.
1!. /o~uwe~'s R~t to Rei~tate. Nawi~hstanding I.ender
s sccekntion of the sums securcd by th~s Monaa`e.
Borrower shall have the riaht to have any ptoce~dings be~yin by Lender to enforce this Mortgaae discontinued a~ any time -
300K ~ PACE