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l.ender's written agreement or applirable law. Borrower shall pay the amount ot al) mortgage insuraoce premiums in the
manner provided under paragraph 2 heroof.
Any amounts disbursecl by I.enJc~ pursuant ta Ihis paragraph 7, with interest thercan, shal) become additional
inJebledncss oi Borrowcr secured by thic Mortgage. Unle~s Borruwer anJ l.enJer agree ta othcr ternns of payment, such
amounts shall be payable u{xm no~icc from I.cndcr to Bc~rrowcr rey~~esting paymeot lhereof. and shall bear interest from the
date of disbursement at thc ratc payahlc (rom timc to time an outstandiag principal under thc Note unless payment of
interest at such rate wauld !~e contrary to applicable law, in which event u~ch amounts shall bear interest at the highat rate
permissible under applicable law. Nothing containecl in thic paragraph 7 shall rcquirc l.ender lo i~cur any expense or take
any action herounder.
8. laspeetbn. I.ender may makr ~~r cause to be made reaconahle entriet upon and inspectionc of the Property, provided
that I_ender shall give Borrowe~ notice prior Io any such inspection cpecifying rcasonable cause theretor related to Leoder's
interest in the Property.
9. Condemnation. The prcxeedc of •rny aw•ard or claim for damages, direct ar cancequential, in connection with any
condemnation or other taking of the Property, or pan thercof. or for c~~nveyance in lieu of condemnation, are hereby assigntd
anJ shall hc paid to i.cnder. ~
in the event of a total taking of thc ProExr~~•. the prcx:ccJs ~hall he applicd to the sums secured by this Mortgage.
with the ercess, if any, paid to Borrowc~. In the evcnt of a partia! taking of the Pro~erty, unlecs Borrower and Lender
otherwisc agree in wriling. therc shall be applied to thr sums cecum~ M~ this Mortgage such proportion af the proceeds
as is equal to that proponion which the amount of Ihe sumc cecured by thic Mortgage immediately prior to the date of _
taking bean to the fair market valuc of thc Aropcrt~• immediatcly prior to the Jate of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoneJ by Borrower, or if. aitcr notice hy I_ender to Bormw~er that the condemnor offers to make
an award or settle a claim for Jamage~, B~rrower fails to reti~nd to Lender within 30 days after the date such notice is
' mailed. Lender ic authorized to collect and apply the proceeds. at I_ender's option, either to restoration ar repai~ of the
Property or to the sums serured h~~ this Morteage.
Unless Lender and Borraw•er othenvise agree in w•riting, an~• such application of prcxeeds to principa! sh.all not extend
or postpane the due date of the momhty~ installmcnts rcferred to in paragraphs 1 and 2 hereaf or change the amount of
such installments.
10. Borrower Not Rekased. Extension of the time for paymem or modifica~ion of amartization of the sums secured
by this Mortgage granted by I_ender to am• tuccecsor in intere~t of Borrower ~hall not operate to rclease. in any manner.
the liabilit}' of the original Borrower and Bormw•er'~ surcessorc in interest. Lender thall not he requireJ to rnmmence
proceedings against such successar or refuse to ertend time for payment or otherwi~e modify amortization of thr ~ums
secured by this Mortgage hy reason of an~~ demand made b~• the ori¢inal Borrower ar,d Borrower s succescors in interect.
l l. Forbearance by I.ender Not a Waiver. An~• f~rhearance b~• I.ender in erercising any right or remedy hereunder, or
otherwise afiorded by applicahle law. shall not he a waiver of or preclude the txercise of any such right or remedy.
The procurement of insurance or the payment of taxes or other liens or charges by I_ender shall not be a K~aiver of l.ender s
ti~right to accelerate the maturity of the indehtednecs ~cured h~• thic Mortgage.
12. Remcdies Cumulative. All remedies pm~~ided in this Morigage ar~e distinct and cumulative to any other right or
remedy under this Mortgage or afforded M~ law• or equity. and ma~• be exercised. concurrenNy. independently or succeccively.
13. Successors and Assi~os Bound; loint and Se~~eral i.iabiljty: Captions. The covenants and agreements herein .
contained shall bind, and the riRhts hen:under shall inure to, the respective succes.u•rs and assigns of I_ender and Borrower.
subject to the provisionc of paragraph 17 hercof. All covenants anJ agreements of BorroW~er shall be joint :?nd ce~eral.
'i~e eaptions anJ headings of the paragraph~ of thic 111origage are for convenience anly and arc not to be usecl to
interpret o~ define the provisions hereof. ~
14. Notice. Except for any notire reyuired unJer applicable law~ to be given in another manner. (a) any notice to
Borrower provided (or in this Mortgaee shall he givrn by mailing such notice by certified mail addressed to Borro~~•er at
the Property Address or at such other adJresc as B~,rrower ma~~ designate by notice to I.ender as pmvided herein. and
(b) any notice to Lender shall be given b}~ certifx:d mail. retum receipt requested_ to I.ender s address stated herein or to
such other address as Lender may desi¢nate M• n~tice to Borrow~er as provided herein. Any notice pmvided for in this
i Mortgage shall be deemed to havc bcen givcn to Borrnw•er or Lcnder w~hen gi~~en in the manner desig~ated herein.
; 15. Unifortn Mort~;a~e; Governin~ Iaw; Severabilify. Thi~ form of mortgage combines uniform covenants for national
I use and non-uniform covenants aith limited variations h~• juriuliction to constitute a uniform security instrument rnvering
; - real propeny. This Morlgage shall be go~•erned M~ the law~ of the jurixdiction in which the Property is located. In the
~ event that any provision or clause of thi~ Mortgage ~r the Note rnnflicts w~ith applicable law~. such conflict shall not aftect
~ other provisions of this Mortgage or the Nc?te which can f+e given etTect without the conflicting pmvision, and to ihis
~ end the provisions of ~he Mortgage and the ~totc arc declared to he severable.
16. Borro~rer's Copy. Borrow•cr shall t~c furni~hed a confarmed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
l7. Transfer of fhe Propertv: Assumption. if all or an}• part of the Property or an interest therein is sold or transferred
by Borrower with~ut Lender's prior w•rittcn c.~nsent, e~cluding (al the creation of a lien or encumbrance sutx?rJinate to
this Mortgage. (b) the creation af a pt~rchace moncy ~ecurit~~ interest for household appliances. (cl a transfer M~ devise.
descent or by o~ration of law upon the death of a joint tenant or (J? the grant of any leasehold interest of three ycars or less
not containing an option to purchase. I.ender may. at Leoder's option. declare all the sums secured by Ihis Mortgage to be
immediately due and payable. I.ender shall ha~~e w~~i~•ed such option ro accelerate if. prior to the sale or transfer. t.ender
and the person to whom the Property ic to be solJ or transferred reach agreement in writing that the credit of such person
is satisfactory to I_ender and that the interc~t payable on the sums secured by this I?iortgage sha~l be at such rate ac Lender
shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest has executed a written assumption agreement accepted in writing by I.ender, (_ender shall relcace Borrower from all
obligations under this Mortgage and the Note.
If Lender exercises such option to accelerate. Lender shall mail Borrow~er notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not Iess than 30 da}~s fram the date ihe notice is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of auch period.
C.ender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereoE.
Nort-UrttFOR~?t CovEtveNTS. Borrower and Lender further covenant and agree as follows:
~ 18. Accderatlon; Remedks. Except as providcd in par~raph 1~ hereof. upoa Borrower's breac6 of any coveoant or
~ agreement of Borrower in t6is Mortgaqe, including the covenants to pay wheo due any sams secnred br t6ts Mort~s6e. Lender
~ , prior to accelentbn shall mail aotlce to Borrower as provided in pangraph 14 hereot specit~in~: (1) tbe brcacb; (2) tbt actbn
required to core socb brcsc6; (3) a date. not less than 30 days from the date the notice b mailed to Borrower, by which sucb
bnach mmt 6e cared; and (4) that fnilure to curc snch breuh on or before tde date specified ia t6e notict msy resdt in
aceeieration oE t6e soms secared by thk Mortgage, forecbsurr 6y judicial proceedio~ aod sak of tbe Property. 71~e ootiee
s6aU furtber iaform Borrower of tbe rigM to rsi~state after aeceleration snd t6e rig6t to ~ert ia t6e foreclowre proceedia~
~ t6e oon-eaktence d a defanlt or aoy other dcfense of Borror?er to acceleration and forec{osars. if tbe bresc6 is Aot c~rtd on
~
on
~ or 6efore t6e date speci~ed ia the ooHce. Lender at Lender•s option may declare a~ of tbe sams second by~t6is Mori;s~e t~u be
~ immtdiattly doe and p~yable withoat ferlher dtmand and may foreclose th4 Morf~e by jndicid proceedia~. Lender sh~11
be eatitkd to co~ect i~ soc6 proeeedju~ s8 e:peaxs of foreclasarr. incla~, bYt vot limited to, reasonaWe attorsey's fees.
~ sod co~fs oE doca'eetary eddeace, abstrscls aod titk reports.
~ 19. oorrower's Ri~ht to Reidtate. Notwithstanding Lender's acceleration of the sums secu~ed by this Mortgage.
Borrower shall have the rigl~t to have any proceedings begun by Lender to enforce this Mongage discontinued at any time
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