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Lender's written agreemeot or applicablo Iaw. Borrower shall pay the amount of all mortgage insurance prcmiunu in the
manner p~ovided under pa~ag~aph 2 hereof.
Any amounts disbursed by I.ender pursuant to thit parag~~ph 7, with intercst thercon, shall became additional
inJcb~edncss of Borrower securrd by this Mottga~e. Unless Bonowe~ and I.enJer agrce to olhe~ temu of payment. such
amounts shall be payabk opcx~ notice from l.endcr to Bormwc~ requesting payment thereof, and shall bear inte~est from the
date ot disbursement at the ratc payahle fram time to time on out:tanding principal u~der the Note unless payment of
intercst at such rate ~vould be contrary to applicable law, in which event such amounts shall bear intGrest at the highest nte
permissibk uode~ applicabk law. Nathing cantained in this paragraph 7 chall require Lender to incur any expense or take
any action hcreu~der.
8. iaspectba. i_ender may makc or cause ta t+e made rea~onable entries upo~ and inspectionc of the Praperty, provided
that i.ende~ shall give Borrower natice prior ta any such inspection specifying reasonable cause therefor related to Lender's
interest i~ the Property.
9. Coodemasfba. The proceedc of any award or claim for damages, dircc~ or consequential, in conntctian with any
condemnation or other taking of the Property, or part therrnf, or for conveyance in lieu of condemnation, are her+eby assigned
and shai! be paid to I.ender.
ln the event of a total taking of thc Pmperty, the prorceds chall he applied to the cums secu~ed by thic Mortgage,
. with the cxcess, if any, paid to Bormwer. In the cvcnt of a partial taking ot the Property, unless Borrower and Lender
otherwice agree in writing. thcre shall be applied ~o thc sums scaircd hy this Mortgage such proportion of ihe proceeds
as is equal to that proportion v?~hich the amount of the sumc ~ecu~ed by thit Mortgage immediately prior ta the date of
taking bears to the fair market value of the Propeny immediately prior to the date of taking, with ihe balance of the proceeds
paid to Borrower. •
If the Property is abandoned by Borrower. or if, after notice by I.ender to Bormwer that the condemnor otfers to make
an award or settk a claim for d3mages, Bormwer fails to res~+c~nd to 1_ender within 30 days after the date such notice is
maikd. Lender is authorized to collect and apply the proceeds, at i.ender c option, either to ratoratioo or repair of the
Propeny or to the sumc sccured hy this Mortgaj;e. -
Unless I_ender and Borrower othen~ice agree in writing. an~~ such application of proceeds to principal shall not extend
or postpone the due date af the monthly installments referrcd to in paragraphc 1 and 2 hereof or change the amount of
such installments.
10. Eorrower Not Rekased. Extension of the time for payment or modification of amortization of ihe sums secured
by this Mortgage granted by t.erxier to anp cuccessor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrawer and ~Borrower s successors in interest. Lender shall not be required to commence
proceedings against such successor or refuse to ecteod time for payment or otherwise modify amortization of thr sums
secured by this Mortgage by reasem oi any demand made b~~ the ori¢inal Borrower and Borrower
s succescars in interest.
ll. Forbearaace by i.ender Not a Wai~•er. Any forhearance hy i.ender in erercising any right or remedy hereunder, or
otherwise afforded by applicable law. shall not he a waiver of or proclude the exercise of any such right or remedy_
'il~e procurement of iruurance or the payment of taxes or other liens or charges by I.ender shall not be a waiver of I.ender
s
right to accelerate the maturity of the indehtednecs cecured hy thic MortgaRe.
12. Remedks Cnmulstive. All remeclies pro~~ided in this Mortgage are distinct and cumulative to any other right or
remeJy under this Mongage or aftorded hy law c,r equity, and ma~~ be exerciseJ concurrently, independently or successively_
13. Saccessors and AssiRes Bound; ]oint and Se~•eral I.iab'lity: Captlons. The cavenants and agreements herein
contained shall bind, and the riRhts hercunder shall inure to, the respective succecx~rs and assigns of I.ender and Borrower, ~
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
71~e captions and headings of the paragraphc of thi~ Mortgage are for convenience only and are not to be used to
interpret ar define the provisions herrnf. , -
14. Notice. Except for any notice rcyoired under applicable law to be given in another manner, (a) an~ notice to
Borrower provided for in this Mortga¢e shall be givcn by mailing such notice by certified mail addressed to Borrower at
the Property Addrecc or at such dher address as Bormw•er ma~~ designate b~ notice to I.ender as provided herein. and
(b) any notice to Lender shall he given hy cer~ificd mail. retum receipt requested. to l.ender s address stated hercin or to
~uch other address as Lender may designate by notice to Bormwer as provided herein. Any notice pmvidecl for in this
Mortgage shall be dcemed to havc been given to Borrowcr or Lcnder v?•hen given in the manner designated herein_
1S. Ueiform Mortg~e: Gorernin~ Lavr; Se.~erabilit~•. Thic form of mortga¢e combines uniform covenants for national
use and non-uniform co~•enants with limited variations by jurisdiction to constitute a uniform security instrument rnvering
rcal property_ 'il~is. Mortgage shall be govcrned h~• the law of the jurisdic~ion in which the Property is located. 1n the
~ event that any provision or clauce of thic Mortgage ~r the NMe conflicts w~ith applicable law, such conflict shall aot affect
~ other provisions of this Mortgage or ~he Nnte Nhinc ~an be given effect without the conflicting provision, and to this
~ end the provisions of the Mortgage and the '~otc arc declared to he severable.
~ 16. Eor[ower's Copy. Borrower shall be furniched a conformed copy of the Note and of this Morigage at the time
of execution or after recordation hereof. ~
17. Transfer of t6e Propertv; Assumption. If all or an~• pan of the Pmperty or an interest therein is sold or transferred
by Borrower without Lender
s prior writ~en consent. e~cluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. {b) the creation of a purcha~e mone~• ~ecurit~~ interest for household appliance~. (cl a transfer h~• devise,
descent or by operation of law upon the Jeath of a joint lenant or (dl the grant of any leaschold ioterest of threc years or less
not containing an option to purchase. l.ender may. at 1_ender'~ option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall h~ve u•ai~•ed such option to accelerate if, prior to the sale or transfer. I_ender
and the person to whom the Property ia to be sold or transferrcd reach agreement in writing that the credit of such person
is satisfactory to LenJer and that ~he intere~t payable on the sums secured by this Morigage shall be at such rate as Lender
shall rcquest. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest hac eaecuted a written assumption agreement accepted in writing by I_ender, Lender shall release Borrower from all
obligations under this Mortgage and the Note.
If Lender exercises such opUon to accelerate, Lender shall mail Borrower notice of acceleration in accordance w~ith
paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
which Borrower may pay ihe sums declared due. If Borrower fails to pay such sums prior to the e~piration of such period.
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1R hereof.
~ NoH-UH~FOawt Covetv~rrrs. Borrower and 1_ender further covenant and agree as follows:
~ ls. Acederatio~; Remedies. E:cep as provided ia paragnph 17 bereof. opon Borrower's breach oE aay cooeoant or
~ a~ree~t of Eorr~ower i~ d~ Mo~age, ~nclndia~ t~e coveoaMs to pay whea dne any sems secnred by thk Mortsa6e. Leader
~ prior to sccekratlo~ sba~ mail aotke to Dorrower as provfdcd in para6rap6 14 6ereoi specityio~: (1) tbe brescb; (2) tbe actbn
req~red to core srcti ~+esc6; (3) a dde, not les than 30 days from the date t6e aotke ts maSed to Borrower, by w6k6 suc6
, bresc6 awt be nred; aod (4) t6at failurr to cnrc such breach on or before tbe date speci6ed ia tbe notict may radt ia
e aecekrstio~ ot tLe sos sec~red by t6is Mort6s~e. focecbsore by jndkW proceedio~ and sak of the Property. 'ILe aatice
~ s6aY tort~ i~fon~ aon~owu of the ri6bt to rci~tate af1e~ sccekrstbo aod t6e ri6bt to ae~ert ia tbe forecloarr proceedia~
~ tie voa-eziste~ce d s defaolt or ~y other defense of Borrower to accekration sod forecbwre. tE the bnse6 is aot etred oa
~ or before We dste s~eei8ed io tbe wotlce. Lendcr a1 I.eeder's option ~nay declare a~ oi tbe sra~s secored by t6is Mort~e b be
~ ia~y dne a~d p~able withod furtber demand and may forcclose t6it Morlaa`e by judicial proceediaR. I.tader shall
~ be eN~led to coileet b srci procadia~ aB e:peases of foreclos~re, incl~. brt aot Ba~itea to, reato~abk attomey's fees,
~ a~d cosls of doc~ae~ar~ e~ide~ce, abstracts asd tide reporls.
~ 19. Dorrower'~ Risit to Rdrtate. Notwithstand"mg Lenders acceleration of the sums securod by this Mortgage, ~
~ Borrower shall have the rigbt to have any proccedings begun by [xnder to enforce this Mortgage discontinued at any time • ~
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