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<br />83- 005265
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<br />Lcndc-r"s wrill~n agreement or ~lppJicable, law. Borrower shall pay the amount of all mortgage ins~rance premiums in the
<br />manner provided under paragraph 2 hereof.
<br />Any amc)tlnts disbursed by Lender pursuant to this paragraph' 7, with interest thereon. shaH become additional
<br />'.indehte4ncss of Borrower secured by this' Mongage_ Uhless Borrower and Lender agre~ to other tenns'of'payment. such
<br />amount!; sh..dl he payable upon notice from Lender to Borrower requesting- payment thereof. and shall bear interest-fl"om:th~
<br />date--ofdist,nrsement -at -the rate payable- from time to time on outstanding principal under the Notc '-unJess payment 'of
<br />inte;re$.t- at -such rate. would be contrary to- applicable law. in which event such amounts shall bear interest--at the highest rate
<br />permissible under applicable Jaw. Nothing contained in this paragraph 7 shall require Lender to incur any expense--or:take
<br />any'cacHon. hereunder.
<br />8>', Inspection. Lender may make or cause-to hc-made'Teasonable entries lIpon and inspections of the Property, 'provided
<br />that-.l~ender shall give- Borrower notice prior- to any such inspection specifying reasonable- cause therefor related to -Lender"s
<br />interest:ih the -Property.
<br />-9. ,Condemnation. The proceeds. of anY-':lward or claim for damages. direct or consequential, in connection' with' any
<br />condemnHtion or other taking of the Property. or part thereof. or for conveyance in lieu of condemnation. aTe hereby assigned
<br />and shaUbe paid to Lender.
<br />11'1- the event- of a-:total taking of the, Property. the proceeds shall be applied to- the sums secured by this Mortgage.
<br />with the excess. if any; paid 10 Borrower. 10 the event of a partial taking (,1f the Property. unles.s Borrower and Lender
<br />otherwise, agree in writing., there shnll he applied to the '>urns- secured by this Mortgage such proportion of the proceeds
<br />as is equal ,to that proportion which the amount of the sum... secured hy this. Mortg'age immediately prior to the date of
<br />taking bears, to the fair market value of the Property immediately prior to the date of taking. with the balance of the proceeds
<br />paid -to Borrower.
<br />If the Properly is abandoned hy Borrower. or if. after notice hy Lender 10 Borrower that the condemnor offers to make
<br />an award or settle a claim for damages. Borrower fails 10 respond to lender within 30 days after the date such notice is
<br />mailed. Lender is authorized to collect and apply the proceeds. at Lender's option. either -to re~toration 'or repair of the
<br />Property or to the sums secured hy this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing. any slIch application of proceeds to principal shan not extend
<br />or postpone the due date of the monthly installments referred to in -paragraphs 1 and 2 -hereof or change the amount of
<br />such 'installments.
<br />to. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release. in any manner.
<br />the Ji'ability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherv.'ise modify amortization of the sums
<br />secured by this Mortgage hy reason of any demand made hy the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by I.cnder Not a Waiver. Any forbearance hy Lender in exercising any right or remedy hereunder. or
<br />otherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of tnxcs or other liens or charges hy Lender shall not be a waiver of Lender's
<br />right to accelcr:uc the maturity of the indebtedness secured by this Mortgage.
<br />12. Remedies Cumulative. All rcmeJies provided in this Mortgage arc distinct and cumulative to any other right or
<br />remedy under this Mortgage or afforded hy law or equity. and may be exercised concurrently. independently or successively.
<br />13~ Successors 311d Assigns Bound: Joint and Sel'eral Liability; Captions. The covenants and agreements herein
<br />contajned shan bind. and the rights hereunder shall inure to. the respective SlICCC'isors and assigns of Lenuer and Borrower,
<br />subject to the provisioris of paragraph 17 hereor. All covenants and agreements of Borrower shall be joint and several.
<br />The captions' -and headings of the paragraphs of this Mortgage arc for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law IO be given in another manner, (a) any notice to
<br />Borrower provided for in this Mortgage shall he given by mailing ",uch notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may design3te by notice to Lender as provided herein. and
<br />(b) any notice to_ Lender shaH he given hy certified mail. return receipt requested. to LenJcr's address stated herein or to
<br />such -other address as. Lender may designate by l1(1tice to Borrower as provided herein. Any notice provided for in this
<br />Mortgage shall be deemed to have been giver to Borrower or Lender when given in the manner designated herein.
<br />15. Unifonn l\fortgagc_; Gmreming Law; Severability. This form of mortgage combines uniform covenants for-national
<br />use and non-uniform covenants with limited variations hy jurisdiction to constitlite a uniform security instrument covering
<br />real property. This Mortgage ~hall be governed hy .the law of the jurisdiction in which the Property is located. In the
<br />event that any provision or clause of thi, :Mortgage ('Ir the Note conniets with applicnhle law. sllch conflict shall not affect
<br />other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
<br />end the provisions of the Mortgage and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be fmnished a conformed C('py of the Note .and of..thi&- Mortgage--~at ~he time
<br />of execution or after recordation hereof. , ,!~,t;' {, ~ .oJ.;.,';' .. ..'1",' _tf,~:;:.::2 '.
<br />17. Transfer of tbe Property; Assumption. If all or any part of the Property or air> intdjiijgt.!rnlreilfissoiil or .tr~ijsferred
<br />by Borrower without V:nder'sprior w.ritten consent. excluding (a) the creation of a 1i~_M- ~Uht.?ran.ce,'su!l.~~~J1!~te, to
<br />this Mortgage, (b) the creation of a purchase money security interest for household appliances, -tc) ~\. transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant or (::n tAD gr(l~~ ?f IJR~ haoElRs-hl iRtElfllat af tRTOIl :'lium: Sf 19G&
<br />-Lit 'j)tJttaiRiRt(I.R ~JI\iflR ili )l1f8B.86Q, Lender may, at Lender's option. declare all the sums secured by this Mortgage to be
<br />immediately, due and ,payable. Lender shall have v~'aived such option to accelerate if. prior to the sale or transfer, Lender
<br />and-the person to whom the_Property is_ to be sold or transferred reach agreement in writing that the credit of such person
<br />,is satisfactory _ to Lender and that the interest payable on the sums secured hy this Mortgage shall be at such rate as Lender
<br />shaIl-requ.est. If Len4er. has waived the option to accelerate provid~d in this paragraph 17. and if Borrower's successor in
<br />inte~est has executed 8,,-written assumption agreement accepted in writing by Lender. Lender shaH release Borrower from an
<br />obligations under Ihis l-tortgage and the Nole.
<br />If :Lender exercis~_ such option_ to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br />~r~raph- J4hereof. Such notice shaH provide a period of not less than 30 days from the date the notice is mailed within
<br />wbich._Dqrrow.er may pay the sums declared duc_. If Borrower fails to pay such sums prior to the expiration of such period,
<br />Lenq~r may, ~ithout further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
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<br />~()~~UN.l~C?~~ COVE-N",NTS, -Borrower and Lender further covenant and agree as follows:
<br />l~ A.~~~ltl,:~~medie$. E~cept 9-S provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />"lW'e~nt of Bi!rNWl!rio Ibis Morl/:age, includi"ll Ibe covenanls 10 pay wben dne any snms secured by Ibis MorlI:age,
<br />....~,~Ofloa~eel<UatlonsbaU mail oolice to.Borrower as.provided in paragrapb 14 bereof.speeifying: (1) the breach;
<br />(?,)liIt""tioJl.'requ!i-ecl toeoresuelt breaebi(3) adate, noli... than 30 days from Ihe dale Ihe notice is mailed 10 Borrower,
<br />", '!:JW:b~h,bfeacbm""t be eUfed; and (4) lbatfallure to cure. such breach on or before Ihe date specified in tbe notice
<br />. ,. in.afeeleratioll of tbesl!rnsseeurO<i by ibis Mortgage, foredosure by jndicialproceedlog and sale of Ibe Property.
<br />.\tl!~Ofl!1iberjnf<JrQ\ ~rroweroflberlgbl. 10 reinstale aller accel~r8lion ancl the. rigbt 10 assert in tbe foreclosure
<br />;~_,:Do.~"en_c:e of _3 _d~fa~lt,_or, -olly__othe,f de~ense of Borrower to acceler4t~on_ and foreclosure. If the breach
<br />- "..Ollo~,bef'1rell!l!cla,tespeeilled Intbe nullee, Leuderat I.ender's option may declare. all of Ibe suoJ$ secured by
<br />n,be lO!medlately duealJd payabl~ wilbout further demand am/may foreclose by judicial proceeding. Lender
<br />~<<;1_, coUe,c;t' in_, s..~b _proceeding aU expefl$~s ,of foreclosure, including. but Dot limited to, costs of documentary
<br />e.; ~n~e, ..... ... s,a..lIlit",rt;POrIs.
<br />1~~ ~tt()~us_ ~~~t, t~ :Reinstale.: Notwithstanding L~n~er<s acceleration of the SlHT1~ secured by this Mortgage.
<br />8,C-(r()_wc-[' ,ti~an ha.ve tb~.right to- hilVC any proceedings. hegun hy Lend5r to cnfon;c lhis M(1ng~gc discOI1llllucd ill any time
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