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Leader'a written agrament o~ applic~bk law. Borrowe~ shall pay the amount o[ all mo~ insuranctple~iums in the
man~er provided under paragraph 2-hereof.
Any amounts disbuned by Lertder pursuant to this paragraph 7, with interest theroan, shall l~cume additional
indebtedness of Horrower securcd by this Mortgage. Unless Borrower and ~ender agree to other teRns of payment. such
amounts shall be payabk upon n~tice fram [_ender to Borrower rcquating payment thereof, and shall bear inttreu from the
date of disbursement at the rate payable from time to time on outsta~ding pri~cipal under the Note unless payment of
intercst at such rate would be contrary to applicable law, i~ which event such amounts shall besr inteoest at the highest rate
permissible under applicable law. Nothing cor.tained i~ this pa~agraph 7 shall require Lender to incur any expense or take
any actiort hereunder.
S. lospectio~. Lender may make or cauu to be made reasonable en~ries upon aod inspections of the Properiy, provided
that Lender shall give Borrowe~ notice prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Peopeny.
9. Coademaatbn. The procetdc of any award or claim fpr damaga, dircet or conseqoential, in conn~ctioo with any
condemnation or othe~ taking of the Propeny. or part thereof, or for conveyance in lieu of condemnation, arc hereby assigoed
and shall be paid to Lender.
ln the event of a total taking of the Prope~ty, the proceeds chall be applied to the sums securcd by this Mortgage.
with the excess, if any, paid to Borrower. in the event of a partial taking of the Property, unless Borrower and Lender
othenvise agrce in writing. there shall be applied to the sums securcd by this Mortgage such proponion of the proceeds
as is equal to that proportion which the amount of.the sums secured by this~Morigage immediately prior to the date of
taking bears to tfie fair market value of the Property immediately prio~ to the date of taking, with the balance of ihe proceeds
paid to Borrower. ~ .
if the Property is abandoned by Bo~rower. or if. after notice by Lender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower fails to respond to 1_ender within 30 days a[ter the date such notice is .
mailed, Lender is authorized to callect and apply the proceeds, at Lender
s optian, either to ~estoration ar repair of the
Propeny or to th~ sums secured by this Martgage.
Unless Lender and Borrower othen+~ice agree in u~ritine. 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 hereof or change the amount of
such installments. .
10. Borrowet Not Relessed. Extension af the time for payment or modification of amortitation of the sums secured
by~this Mortgage granted by i.ender to any cuccessor in intereu of Barrower ~hall not operate to release, in any manner,
the liability of the original Borrower and Bc~rrower
e successorc in intercst. Lender shall not be required to commence
proceedings against suCh successor or refuse to ez~end time for payment or otherwise modify amortization. of ttG JLl[fi3
securtd by this Mortgage by reason of any demand made by the ori¢inal Borrower and Borrowers s~iccessors in interest.
11. Faritars~ce by i.ender Not a Waiver. Any fort+earance bv I_ender in e+cercising any right or remedy hercunder, or
otherwise aftorded by applicable law, shall no~ he a waiver of o~ preclude the exercise of any such right or remedy.
The proc~~rement of insurance or the payment of tares or other liens or charges by I_ender. shall not be a waiver of Lender s
right to accelerate the maturity of the indebtedness ~ca~red hy this Mongage.
12. Remedies Cnmulatire. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mor~gage or aBorded by law or equi~y, and may be exercised cctncurrently, it~dependently o~ successively.
13. Soccessors and Assi~as Bound; Joint and Scveral i.iability; Captions. The covenants and agrcements herein
contained shall bind, and the ~iAhts"hereunder shall imire to, the respective succecsors and assigns of Lender and Borrower, i
subject to the provisions of paragraph 17 hereof. All covenants and agreemenis of Borrower ahall be joint and several.
The captions and headings of the paragr~phc of this Mongage are for convenience only and are not to be tised to
internret or define the provisions hereof.
14. Notke: Except for any notice required under applicable iaw to be given in_another manner, (a) any notice to -
Borrower provided for in this Mortgage shall be given ny mailing such ~otice by cenified mail addressed to Borrower at
th~ Property Address or at such other address as Barrower may designate by notice to 1_ender as provided herein, and
(b) any notice to Lender shall be given by certified mail. return receipt requested. to I.ender'c address stated herein or to
such other address as Lende~ may designate by notice to 8orrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
~ 1S. Uniform Mortgage; Govemin~ Law; SeveraM'lity. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limiteJ variations hy jurisdiclion to constitute a uniform security instn~mept covering
' real property. This Mortgage shell be governed hy the laK~ of the ;urisdiction in which the Property is located. In 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 given efiect without the conflicting provision, and to this
~ end the provisions of the Mortgage and the Note arc declared to be severable.
~ 16. Bormwer's Copy. Borrower shall be f:irnished a conformed copy of the Note and of this Mongage at the time
of execution or after recordation hereof_
17. Transfer of the Proparfy; Assumption. if all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. cxcluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
descent or by operation of law• upon the death of a joint tenan~ or (d) the grant of any leasehold interest of three years or less •
not containing an option to purchase. [.ender may, at Lender'~ c?ption, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender s~iall ha~•e waived such option to accelerate if, prior to the sale or transfer, Lender
and the person to whom the Property is to be so1J or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the intcre.t payable an the sums secured by this Mortgage shall be at such rate as Lender
shall 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 assumpiion agreement accepted in writing by Lender, Lender shall release. Borrower from all
~ obligations under this Mortgage and the Note. ,
If Lender exercises such option to accelerate, I_ender shall mail Borrow•er notice of acceleration in accordance with
~ paragraph 14 hereof. Such notice shall provide a perioci of not less thpn 30 days from the date the notice is mailed within
which Borrower may pay the sums declared due. if BorraK~er fails to pay such som~ prior to the expiration of such period,
Lender may, without further notic: or demand on Borrower, invoke any rcmedies perroitted by paragraph 18 hereof.
NoN-Ur+~FORM CovEtv~NTS. Bottower and Lender further covenant and agree as follows:
~ 18. Accelerstion;.Remedies. E:ce{K as pmvided in paragrapb 17 hereof. apoa Borrower's breach of aay coveaant or
~ aareemeat oE Eorrower in tbis Mortg~e, including t6e covenants fo pay wheo due any snms secured by thls MortLage. Lender
prior to sccekiatioa al~alt mail ootice to Borrower u provlded in ps~graph 14 bereof specifyiag: (1) tbe breacb; (2) tbe action
` reqrired to cdre soc6 breach; (3) a date, aot le~ thsn 30 days from the dste t6e ootice is maikd to Borrower, by whic6 wcb
~ breach mdt 6e cared; aQd (4) tbat failurc to cnre such breach on or before tl~e date apec~ed ie t6e notke may radt ia
~ accderatio~ d t~e soms secared by tbis Mort~age. foreclosure by jodicial proceedi~ ~nd sale of the Pmperty. 1be notke
} shaB furtber i~for~ Borrower of t6e ri6ht to rclastate dter accekntaa and tbe ri6bt to a~ert ia the fonclosnre prnceedin6
° t6e no~-e~steace of a defanlt or aey other dcEense of Borrower to accekratiou and foreclosure. If tbe bresc6 is eot crred ow
~ or bdors tl~e dste s~eci6ed fe t6e nMice. Lender at Leodt~'s option may declue aq of the snmt secnred by t6k Mo~a~e b be
~ ~enn~ediately dee asd payab~k wit6ort further demand and may forecbse this Mortga6~ bi' J~k~ P~~~L. Lender sball
be eeWkd to collect ia sncb proceedioa sli espeoses of foreclowre, iucludius, bot aot limited tq reasooabk attorney's iees,
~ awd cosb of doc~~enhry e~ideece, sbstracts and tiNe np?fb.
~ 19. ~brror?er's Ri~bt to Reiastate. Notwithstandiog Lender s acceleration of tht sums secured by this Mortgage,
~ Borrawer ahall have the right to have any proccedings hegun by Lender to enforce this Mongage discontinued at any time
~ ~ 8~;~435 P~~E 9~3
~ 06697) Jcc 7~
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