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l.endcr's written agrecment or applicabk law. Borrower shall pay the amount oE all mongage insurance premiums i~ ihe
manner provided undc~ parag~aph 2 heroof.
Aoy amounts disbursed by I_ender pursuant to Ihis pa~ag~aph 7, with interat Ihereao. shall become additional
inJebtedncss af Bo~rower secured by this Morlgage. U~lec~ Bonowc~ and I.enJer agree to othe~ ternu of payment, such
amcxints shall 6e payable u~o no~ice from l.e~der to Bc~rrowr~ requesting payment therec~f, and shall bear interat fmm the
datc of disbursement at the rate payable irom time to time an outstanding principa) under the Note unless paytnet~t ot
intere:st at such rute would be cont~ary to applicable law, in which event such amounts shall bear interest at the highest rate
pcrmissibk u~dcr applicablc law. Nothing contained in this paragraph 7 shall tcquire Lcnder to incur any espense or tate
a~y action hereunder.
8. Iaspectioo. I.ende~ may make or cause to be made reacanable entriec upan and inspections of the Prope~ty. provided
that I.ender shall give Borrower notice prior ta any such inspectian specifying rcasonabk caux therefor related to I.ende~'s
interest in the Property.
9. Coademnatba. The proceeds of any award or claim for damages, dircet or consequential, in cont~ection with any
. condemnation or dher taking of the Property, ar pan thereof, or for conveyance in lieu of ccu~demnation, are hereby astig~ed
and shall be paid to i.ende~.
in the event of a total taking of thc Pmpcrly, the proccecls shall hc applied to the sums secured by this Mortgage,
with the cxcess, if any, paid to Bormwer. in thc cvcnt of a pa~tial taking of the Property, unless Borrower and I.ende~
atherwise agree in w~iting, therc shall be applied to ~he sums SecurcJ by this Mortgage such pr+oporlion of the proceods
as is equal ta that proportian which the amount af the sumc secured by this MoAgage immediately prior to the date of
taking bean to the fair market value of the Property immediately prior ta the date of taking, with the balance of the proceeds
paid to Bornowcr.
If the Property is abandoned by Borrovver, or if. after notice hy I.ender to Borrower that the condemnor offers to make
an award or settle a claim for damages, Borrower fail~ to r~~cpond to I.ender within 30 days after the date such notice is
mailed, L.ender is authorized to collect and apply the proceeds, at i.ender s option, either to restoration or repair of the
Properry or to the sums secured by this Mortgage:
Unless I_ender and Borrower othervirise agrce in H~riting, any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installmcnts referrcd to in paragraphc 1 a~d 2 htreof or change the amount of
such installments.
10. dormwer Nof Released. Extension of the time far payment or modification of amartization of the sums secured
by this Mortgage granted by 1_ender to any succetsor in intercst of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrower e successors in interest. Lender shall ~not be required to commence
proceedings against such successar or refuse to extend time for payment or otherwise modify amortization of the sums
secured by thic Mortgage by reason of any demand made by the original Borrower and Borrawer
s succescors in interest.
11. For6earance by i.ender Not a Waiver. An}' forfiearance by i.ender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remody.
The procuremeot of insurance or the payment af taxes or other liens or charges by i_ender shall not he a waiver of Lender s
right to accelerate the maturity of the indehtedness cecured hy this Mortgage.
12. Remedies Cnmulati~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or
rcmeely under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently or succescively.
13. Socceswrs aad A~os Bound; ]oint ~nd Seve~al i.iability; Captions. "it?e covenants and agreements herein
contained shall bind, and the rights hereunder shall inore to, the respective succet~rs and~assigns of i_ender and Borrower,
subject to the provisions of paragraph 17 hercof. All covenants and agreements of Borrower shall be joint and several_
'Il~e captions and headings of the paragraphs of Ihis Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
~ 14. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to
Borrawer pmvided for in this Martgage shall be given hy mailing ~uch notice by certified mail addressed to Borrower at
the Propeny Address or at such other address as Borrow-er ma}~ designate by notice to i_ender as provided herein, and
(b) any notice to Lender shall be given by certified mail, retum receipt reque.~ted, to i.ender s address stated herein or to
such other address as Lender may designate by notice to Borrawer as provided herein. Any notice provided for in this
Mortgage shall be deemed to have bcen given to Borrowcr or l.ender when given in thc manner designated herein.
15. Uaiform Mo~tgage: Gorernin~ Iaw; Sever~b~'lity. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limi~ed variations by juriuiiction to rnnstitute a uniform security instrument covering
' , real property. This Mortgage shall be governed hy thr 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 affect
~ other provisions of this Mortgage or the Note which can be given eBect without the conflicting provision, and to this
end the provisions of the Mortgage and the Notc arc Jcclared to he severable.
r 16. dorrowe~'s Copy. Borrower shall be furniched a conformed copy of the Note and of this Mortgage at the time
~ of execution or after recordation hereof.
~ 17. Tnnsfer of tbe Propert~r; A~umption. If all or any part of the Pmperty or an interest therein is sold or transferred
by Borrower without Lender's prior written consent, excludinR (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purchace money ~ecurity interest for household appliances, (c) a transfer by devise.
descent or by operation of law upon the cieath of a j~int tenant or (d) the grant of any Ieasehold interest of three years or less
not containing an opiion to purchase, Lender may, at !_ender s option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer, I~nder
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 Lenckr and that the interest payable on the sums secured by this Mortgage shall be at such rate as I.ender
~hall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's succes~or in
mterest has executed a written assumption agreement accepted in writing by Lender, Lender shall releace Borrower from all
. hligations under this Mortgage and the Note.
(f Lender exercises such option to accelerate, I_ender shall mail Borrower notice of acceleration in accordance with
aragraph 14 hereof. Sueh notice shall provide a perioci of not less than 30 days from the date the notice is mailed within
hi -h Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period.
~~~.l~r may, without further notice or demand on t3c~rrower, invoke any remedies permitted by paragraph 1R hereof.
a' Norv-UNtFOR~t CoveN~t~rrs. Borrower and Lender further covenant and agree as follows:
~ 18. Acceleiatioa; Remedies. Facepl as provided ia psraRr~pb 17 hereof, upon Borrower'a breach of aay coveoaot or
~ ~reemeot of Borruwer ie t~ Mortga~e, incladi~ the covenaots to pay nheo dae sny snu~s eccared by thls Mort6a6e, I.eoder
prior to sccelerstb~ s6aR mail notice to Borrowcr as provided in para6raph 14 bercof spcciEyius: (1) tbe brescb; (2) tbe aciion
~ nquired to care secti brescb; (3) a date, not less than 30 days from the dste the Aotice is maikd to Eorrower, Iry whic6 snc6
~ breach mmt be cered: aod (4) tbst failure to core sech breach oa or before tbe dste spec~ed ia t6e notke may res~lt i~
~ accderafioo ot t~e soms secar~ed by tbis Mart~e, forecbsnre by jndkid proceed~ ~ sale of tbe Property. 'I~e notke
shaU fartber inform Eorrower oE tbe ri~W to rei~tate dter accelerstion aod t6e ris6t to aseert i~ t4e foreclosnre proceedi~
the aon-eiisteoce ot a defadt or any other defe~e of Borrovver to sccekntion aod foreclosare. If t6e breach ia ~ot c~red on
or 6efore tbe date spec[Sed in t6e aotice, Leoder at Lender's optioa msy deciare aY of tbe sams s~red by t64 Morlaase to be
t immedisWy doe aod payabk r?it~oat fort6er demaod aad may foreclose t6is Morf~a~e bp fodkial Proc~. I.eeder shaH
be entitkd to collect ~ secr proceediu~ afl e~eases of fonclosnre. iacludio~, bot sot Wait~d to, reataaaWe att~s fees. .
aod costs ot docoaseatary e~deace, abstracb aad title reports.
19. Dorruwe~'s Ri`6t to Reiestata Notwithstanding Lender s acceleration of the sums secuted by this Mortgage.
Bonower shall bave the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
eoRK~68 PacF 93~