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l.ender's w•ritte~ ~greement or applicable law. t3urrowcr shull pay the amount o[ ail mortgage insurance prcmiums in the
manner provided under paragraph 2 hercof.
Any amoe~nts disbursed by Lender pur~uant to this pa~agraph 7, with intercst thcreon, shall become additiona)
i~debtedness of Borrower securcd by this Mongage. Unless Borrawc~ anJ l.ender ag~cc to other tcrms of payment, cuch
amoimts shall t~e payablc up~n notice from 1_ender to Bo~rowc~ reyuesting paymcnt thereof, and shall bear interest from the
date of disbursemcnt at the rate pa~ahle from time to time oo acrtstanding principal under the Note unless payment of
interest at such rate wopld he contrary to app)icable law, in which event such amaunts shall bear interest at the highest rate
permiuible under applicable law. Nothing contained in thic paragraph 7 shall require I.ender to incur aoy expense or take
a~y action hereunder.
8. Iaspectba. Lender may make or rause to he madc rcasonable entries upon and inspections af the Properly, pravided
that i_ender shall give Borrower notice prior to anv such inspection specifying reasonable eause therefor related to Lender s
intcrest in the Property, ' ~
9. Copdemnation, The proceedc of an~~ award or cls?im for damages, dircet or consequential, in conneclion with any
condemnation or other taking of the Propeny, vr part thereof, or for conveyance in lieu of condemnation, are hereby assigned
and shall be paid to I.ender.
In ~he event of a total taking af the Pmpcrly. thc procceds ~hall hc applicd tn the sums secured by this Mortgage,
with the ercess, if any, paid to Borrower. in the evcnt of a partial taking of the Property, unles.c Bormwer and Lender
otherwise agree in writing. therc shaU be applied to the sums s~cumd by this Mortgage such proportion of the procteds
as is equal to ihat proportion which the amaunt ot the sumc tccured by this Mongage immediately prior to the date of
taking bears to the fair market valuc of the Property immediatel~~ prior to the Jate of taking, with the balance of the proceeds
paid to Borrowcr.
tf the Property is abandoned bp Borrower, or if. after natice by i.ender to Bormwer that the condemnor offers to mslce
an award or settle a claim for damages, Borrower fails to respond to l.ender w~ithin 30 days after the date suc6 notice is
mailed. Lender is authorized to collect and apply the proceeds, at I.ende~'s option, either to restoration or repair of the
Propeny or to the sums secureci by this Mortgage.
Unlesc I_ender and B~rrau~er otherWice agree in ~•ritine. an~~ such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referrcd to in paragraphs 1 and 2 hereof or change the amount of
• such installments.
10. Borrower Not Rettased. Fxtension o! the time for payment or modification of amortization of the sums securcd
by ihis Mortgage granted by I.ender t.~ any successor in intere~t of Borrow~er shall nat operate to release, in any manner,
the liability of the original Borrow~er and Borrower's successors in interest. i.ender shall not t~e rcquired to commence
proceedings against such successor or refuse to estend time for payment or otheru•ise modiiy amortization of the sums
secured bp this Mortgage by reason of sny demand made b}• ~he oriqinal Borrawer and Borrower s successorc in interest_
11. Forbearance by lxnder Not 9 Wai~•er. Anp forh~;arancc by I.cnder in exercising any right or remedy hereunder, or
othenvise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
The procurement of insurance or the payment of tares ar other liens ar charges by l.ender shall not be a waiver of Lender s ~
right to accelerate the maturit~~ of ihe indebtedness securcd hy thit Mortgage. '
12. Remedies Cumulatire. All remedies provided in this 1?4ortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded hy law or equity. and may be e~ercised concurrentiy, independentl,v or successevely.
13. Soccessors and Assigns Bound: ]ofnt and Se~enl i.iAbilin: CapBoos. The covenants and agreements herein
contained shall hind, and the riRhts hercunder shal! ;nure to. the respective successors and assigns af Lender and Borrower,
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. .
The captions and headings of the paragraphs of this Martgage are for convenience only anJ ar+e not to be used to
interpret or define the provi~ions hereof.
14. Notice. Except for any notice required under applicable law• to be given in another manner. (a) any notice to
Borr.~wer provided (or io this Mortgage shall tx given by mailinR such notice by ce~tified mail addressed to_ Borrower at
the Property Address or ~at such other addres~ as Bormwer ma}~ designate by noticc ta t.ender as provided hercin, and
(b) an~~ notice to Lender shall he given by certified mail. retum ~receipt requested, to i.ender s address stated herein or to
such other address as Lender may designate by notice to Bo~rower as pra~ided herein. Any notice provided for in this
Mortgage shall he deemed to havc been given to Borrower or l.ender when given in the maoner designated herein.
15. Uniforn~ ;ltortRa~e; Govcrnin~ I.aw•; Se~~erabilit~•. This form of mortgage combines ~rniform covenants for nationat
use and non-uniform covenants w•ith limited variatioos h~• je~risdiction to constitute a uniform secu~ity 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 dause af this Mortgage or the Note eonflicts w~ith applicabie law, such conflict shall not afiect
other provisions of this Mortgage or the Note which can be given effect without the conflicting provision. .and to this
end the provi~ions of the Mortgage and the '~`ote are Jeclared to he severable.
16. Borrower's Copy. Borrow•er shall be fi~rnished a conformed copy of the Note and of this Mottgage at the time
of execution or after recordation Fiereof.
17. Transfer of the Propertr: Assumplion. if aU or an~~ part of the Pmperty or an interest lherein is sold or transferred
by Borrower without Lender's prior written consent. excluding la) the creation of a lien or encumbrance suhordinate to
this Mortgage. (b) the creation of a purchase money security interest for household appliances, (cl a transfer by devise.
descent or by operation of law upon the death of a joint tenant or (d? the grant of any teaschold interest of three years or less
not containing an option to purchase. I_ender may, at I_ender's option, declare all the sums sect~red by this Mongage to be
immediately due and payable_ Lender shall have w~aived such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property ic to be so1J or transferred rea~h agreement in ~vriting that the credit of such person
is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shalt be at such rate as Lender
shall request. If Lender has waived the option to accelerate provided in lhis paragraph 17. and if Borrower's successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
obligations under this Mortgage and the Note.
1f Lender exercises such option to accelerate, I_ender shall mail Borrow•er notice of acceleratio~ in accordance with
paragraph 14 hereof. Such notice shail provide a period of not less than 30 days from the date the notice is mailed within
which Sorrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period.
Lcnder may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph IS hereof.
Nox-Utv~FORnt CovEx~rrrs. Borrower and Lender further covenant and agree as follows: ~
18. Acceleratfoa; Remedks. E:cept as provided ia paragraph 17 hereof. upon Borrovre~'s breach of any co~enant or
agreemcnt of Borrower ia t6is Mortgage. inclading t6e covenants to pay when due aay samc secured by ti~ Mortgage, Leader
prior to acceleratlon sball maU aotice to Borrower as Providcd in paragraph 14 hereof specifying: (1) t6e bnach; (2) tbe actbn
reqnired to enre soch breac6; (3) s date, not less tdan 30 days from tbe d~e tbe notice is maikd to Borrowrer, by whkb soc6
breacb mwt be enred; and (4) tbat failure to cure such breach on or before the d~e s~teciBed in t6e notice msy resnlt in
accekration of t6e snms secared by th~s Mort~age, foreclosure by judicial proceedia~ aod sale of t6e Property. ZUe notice
shall fnrther inform Horrower of the rigb! to-reinshte dter sccekradon and tbe right to as~ert ia t6e fw+dcbsore prnceeding
the ~on-e:tsience ot a defank or any other defense of Borrower to accekmtion and foreclasore. If the bnscb ~ not cared o0
or before the d~te speciSed In the notke, Lender At Lender's optbn may dechre all of the soms secared b~ this Mortsase to be
immediatdy dne and payable wit6out further deawad and may forecbse this Mortga~e 6y judicial proceedio~. i.ender sl~lf
be endtkd to colkct in snch proceedin` a8 e:penses of forecbsure. iacluding, but aot limited to, rrasonabie sttorney's fees, ~
~ud cosfs of docnmentary evidcoce. abstracts and titk reports.
19. Borrower's RIg6t to Reinst~e. Notwithstanding Lender s acceleration of the sums secured by this Mortgage, '
Bonowet shall have the right to have any proccedings hegun by Lender to enforce this Mortgage discontinued at any time .
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