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l.ender's writtea agreeme~t or applicablo 14w. Bomowe~ shall pay the amount of all mo~tgage insurance premiumt in the
msnne~ provided undcr parag~aph 2 heroof.
.Any amounts disbursed by I.ende~ pursua~t to this paragnph 7, with iuter~est thereon, shall becanc additional
inikb~edness of Borrower secured by this Mortgage. Unless Sorrower and Lender agroc to other tetms of payment. such
amounts shalt be payable upon ncuice from 1_ender ~a Borrowcr rcquesti~g payment thercof, and shall bear interest trom the
datc of disbursement at the ratc payablc fmm time to time on artstanding principal under the NMe unless psyma~t of
interest at such rate would be contrary to applicabk law, in which event such amounts shall bear interost at the hiahest rate
permissibk u~der applicable law. Nothing cantainod in this paragraph 7 shall rcquire Lender to incur any expease ar take
any action hereunder.
S. I~specfioe. l.ende~ may make or cause ta be made reaconable enlries upon and inspectiom of the PropertJ?. pmvided
that I_ender shall give Borrower notice prior ta any such inspection specifying r~asonable cause therefor rclated to Lender's
intercst in the Property.
9. Coademastba. The proceeds of any award or claim for damages, direct or consequential, in connoction with any
condemnation or dher taking of the Property, or part tl~ereof, or for cc~nveyance in lieu of condemnation, are hercby assigt~ed
and shall be paid to i.ender. .
in ~he event o~ a total taking of thc Propeny, the pro~,-eeds chal) be applied to the sums securcd by this Mortgage,
with the exccss, if any, paid to Borrower. in thc cvcnt of a partial laking uf thc Property. unkss Borrower and Lender
othorwi.ce agrce in writing, there shall be applied to the sums securecl by this Mortgage such proportion of the proceeds
as is equal to that proportion w~hich the amaunt of the sumc secured by this Mortgage immediately prior to the date of
taking t~ears to the fair market value of the Pmperty immediately priar to the date af taking, with the balance of the prnceeds
paid to Bornower.
If the Property is abandoned by Borrower, or if, after notice by t.ender ta Bormwer that the condemnor otfen to make
an award or settle a claim far damages, Bc~rrower fail~ to rccpond to t.ender within 30 days after the date such notice is
mailed, Lender ii authorized to collect and apply ~he proceeds, at I.ender's option. either to ratoration or repair of the
Property or ta the sums secured hy this M~rtgage.
Unless Lender and Borrower otherwise agree in H•ritine. any such application af prc~ceeds to principa) shal) not extend
or pactpone the due da~e of the monthly installmcnts referrcd ta in paragraphs 1 and 2 hereof or change the amount of
such installments.
19. Borrowe~ Not Rekzsed. Extension of the time for payment or madification of amortization of the sums secured
by this Mortgage granted by I_ender to aoy cuccessc~r in interest of Borrower shall not operate to release, in any manner.
the liability of the original Borrower and B~rrower s s~~ccessorc in interest. i_ender shall not be required ta commence
proceedings against such successor or refuce to extenJ time for payment or otherwise modify amortization of the t~~ms
secured by this Mortgage by reason of any demand made b~• the oriqinal Borrower and Borrower
s succestors in interect.
11. Forbearaace by Lender Not a R?airer. Any forhearancc by I_cnder in e~ercising any right or remedy hereunder, or
otherwise afforded by applicable law, shall not tk a waiver of or preclude the exercise of an~ such right or temedy.
The procurement 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 maturiry of the indehtedness secured hy this Mortgage.
l2. Remedles Camuhti~e. All r+emeclies pr~ivided in ihis Mortgage are dist+nct and cumulative to any other right or
rcmedy undfr this Mort~tage or afforded by law or equity, and may be exercised concurrently, independently or successively.
13. Saccessors and A~ Bound; loint and Sereral i.iab~ity; CapHoas. The covenants and agreements herein
contained shall bind, and the rights hercunder shall inure to. the respective succesuxs and assigns of Lender and Borrower,
subject to the provisions of paragraph 17 hereof_ All covcnants and agreements of Borrower shall be joint and several_
The captions and headings of ihe paragraphs of ~his Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof. .
14. Notict. Except for any naticc reyuired unckr applicable law to be given in anothet manner, (a) any notice to
Borrower provided for in this Mortgage shall be giveo by mailing such notice by certified mail addressed to Bormwer at
the Property Address or at such other addresc as Bormwer ma~• designate by notice to I.ender as provided herein, and
(b) any notice to Lender shall he given hy certified mail. rcturn receipt requected. to I.ender
s address stated herein or to
such other address as Lender may designate by notice to Bormwer as provided herein. Any notice provided for in this
Mortgage shall be dcemed to have been given to &?rmwer or Lender when given in the manner designated hercin.
I5. Uniform MoK~age; Governia~ Larr. Serers~bility. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variaticx~s b~~ jorisdiction to cor~titute a uniform security instrument covering
real property. This Mortgage shall be governed 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 applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note w~hich can be given effect without the conflicting pmvision, and to this ~
end the provisions of the Mortgage and the Note arc Jeclared to be severable. ~
16. aormwer's Copy. Borrower shall be furnisheci a conformed eopy of the Note and of this Mortgage at the time ~
of eaecution or after rocordation hereof. -
17. Tnasfer of tre Property; Assamptwn. .If all or any part of the Propeny or an interest therein is sold or transferred ~
by Borrower without I.ender's prior written consen~, excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b1 the creahon of a purcha~e mone~• ~ecurity interest for household appliances, (c) a transfer by devise. ~
~ descent or by operation of law upon the ckath of a joint tenant or (d) the grant of any leasehold interest of three ycars or less
I not containing an option to purchase, i_ender may, at Lender s option, declare all the sums secured by this Mortgage to be
' immediately due and payable. Lender shall have w~aived such option to accelerate if, prior to the sale or transfer, I.ender ~
j and the person to whom the Properry ic to be soW 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 such rate as Lender ~
i shall request. if Lender has waivod the option to accelerate pravided in this paragraph 17, and if Borrower's successor in ~
interat hu exceuted a written auumption 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. Lender shall mail Borrower notice of acceleration in accordancc N~ith
! paragraph 14 hereof. Such notice shall provide a period of not less than 3d 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 period. ~
~ I.ender may, without further notice or demand on Borrower, invoke any remedia permitted by paragraph 1 S hereof.
NoH-Urrt~aenr CoveHerrrs_ Borrower and Lender further covenant and agroe as follaws: .
E la. Aeede~atb~ Rewc~a. Bacept as provided b p~ra~rapr 17 Mereof, ~lo~ Sorrowe~'s breacr of sy co~e~t or
! a~nee~at of ~ i~ f~ Moe~e, bdadi~ tMe co•ewa~fs to M~ w6e~ dee ay sas see~rei 6y tii~ Mortsa~e, I.e~er
' prior b seee4ratlo~ ~i ~~otice !o Eon+nwcr as pro~facd 6 pan~ 14 ~ereot spec~jl~: (1) fie b~racr: (2) tre actfo~
ny~ei b c~re wc~ iresc~ ~ da~e, ~ot ks t~a 30 ~a~s fe~ow tl~e date fre ~otke i~ ~aiiei to Sorrower, ~ w6ic6 soc~ 3
~ inacti ~wt be em~ aei (n t~at fa~ore ta cQ+e a~cY breac~ oa or beEare ttie date Reetid ~ tUe ~otke a~ay resdt h ~
; acedersBo~ of tre ~s sec~red by l~is Mortsa6e, toreelosore b~' ~icial Noceedi~ a~ de of t~e lrope~. 'Ibe ~otice
j sMall t~rl~er idor~ eorrower d tre ri~`t to rci~h after acceleratioo a~d t~e ri~N b aoert ~ tie toreclowne poceeii~ - ~
` trt ~o~-t:i~te~ce d s deEsdf or aey ather aefebe of ~orrower b sceekrMjo~ a~d forseloare. it ttie brssci~ L~ot e~ei a~
~ or before tbe dale ~eeiiei i~ tre notice, Le~der at I.eode~'s optb~ say declaee aY of tre w~s set~ea b~ fl~is Maisa~e !o be ~
~ iu~e~d~ doe ar Myabk witboN fatber demand aad may forecloa ti4 M~e b~~ l~R. Leoder sraN ~
E be ~ to eoYett ` wci ~nuc~e~ all e:peosa of foreclos~re, 6~t ~ot I~ild te, rea~o~ade attorse~'s fees, ~
~ a~i eorb af ioc~r~ e~ide~ce, sbdrscb a~d title reprb. ~
l~. Sorruwa~'s R~bt to Reistata Notwithstanding Lender's aceekration of the sums secut+ed by this Mortgage, §
Bormwer shall bave the right to have any proccedings begun hy Lender to enforce this Mortgage discontinued at auy time ~
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