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I.ende~'s writtea agreement or applicabk law. Borrower shalt ~
pay the artwunt of all mortgage insurance prcmiums in the
mar~ner provideel unde~ paragraph 2 hertot.
Any amounts disbursed by I.enJer pursuant to this pa~agraph 7, wi~h interext therean, shall becomc additional
inJeb~edness of Borrowcr securcd by this Mortgage. UnlecS Borrawe~ anJ I.~nJer agrce to othe~ terms of payment, such
amounts shall be payabk up~~o noticc from Cender to &~~rawer reyucsting paymcnt thercof, and ~hall hear interest from tht
date of disbursement at the rate pa~~abk trom time to time on outstanding principal ur.der the Note unlecs payrtient of
intercst at such rate would be contrary to applicable law, in which event such amounts shall hear interest 3t the highest rate
permissibk under applicable law. Nothing contained in this paragraph 7 shall requirc I.ender to iocur any expense or take
any action hercu~der.
8• InspeetbA. I_enekr may make ar cause to be made reasonable entriec upon and inspectionc of the Pmperty, provided
that I.ender shall give 8orrower no~icc prior ta •rny such inspectian cpecifying reasonable cause therek~r related tn I.ender's
interest in the Propcrty,
9• Cowdeuiuatiou. The prc~ceedc ~~f •rny aw•ard or claim for damac~'s. d+rect or conccqueotial, in rnnnection wilh any
condemnati~n or other taking af ~he Property. nr part thereof, or far conveyance in Geu af condemnation, are hereby astigned ;
und shall be paid to Lender.
In the event oF a total taking of the Amper~y. 1he prckeeds ~hall he applied to the cums secured by thic Mortgage.
with the erccss, if any, paid to 8orrowcr. in thc evcnt of a partial taking ~~f thc Property, unlecc Rorrov?~er and I.ender
othervr•ise agree in writing. there shall he applied to the ~umc securc~ h~~ thit Mortgage ~uch proportion of the proceeds
as is equal to that pmporti.~n w~hich thr amount of thc sum~ securcd hy thic Morlgagc immediately prior to the date of
taking bears to the fair ma~ket value of thc Propcrty immediatcly prior to the Jate of taking, wilh the balance of the proceeds
paid to Borrovrtr.
tf the Property is abandoned by Borrouer, or if. after no~ice bv T.ender to Borrower that the condemnor offers to make
an award or settk a claim for damages, Bormwer fail. to respc?nd to Lender within 30 days after the date such notice is
mailed, Lender is authorized to rnllect and apply thc proce~ds. at Lender's option. either to restoration or repair of the
Propert~• ~r tc? the sums secured ht• this Mortgage.
Unlesc I.ender atid Borraw~er atherwise agree in w~ritinc, any such appliration of prckeed~ to principa) shall not extend
or postpone the due ~ia~c of the monthl~~ installmcnts referred to in paraRraph~ 1 and 2 herrnf or change the amount of
cuch ins~allments.
10.' Bomnw~r TTot Released. Extensian ot the time for paymeM or mcxlification of amortization of the sumc secured
b•y this Mortgage granted by i.ender t~• am• cuccecx~r in intere~t of Borro~~er ~hall not oFx:rate to rckase. in~py manne~.
the iisbility of the original Borrower ~nd ~rrower'~.succescnrc in interest. i.ender shall not be mquired tR eommenee
pra,-eedings acainst such successor or refu~e to e~tend time for payment or otheru~ice modify amortizaUon of thr ~ums
secared by thic Mortgage by reason of any dcmand made b~~ thc ori~inal Bormwer and Bc•rmwcr s succcctiors in in~ere~t.
11. Forbesrance by i.ender Not a Wai~•er. ~m• fc?rhearancc b~~ Lender in erercicing am right or remedy hcreunder, ar
otherwisc aflorded by applicahlc law, thall not he a waivcr of or preclude Ihe cxercisc of am such right ~r remed~•_
The procurement of insurance or the payment af tases or other liens or charges h~• l.ender shall not he a uai~~er of 1_enders
right to accelerate the maturity of the indehtednecs ~ecurcd M• thic Mortgage.
12. Remedies Cnmulative. All rcmediec prc?vided in thic Mortgage are distinct and cumulative to any n~her right or
remeJy under this Mortgage or afforded h~• law ~~r eyui~y. .md may be e!cercised concurrenUy. independenN}• or sacrecsi~•elr.
13• Snece~ors aod Ass~ns 8ound: Joint arnf Serera! f.iability; fapHons. The covenants and agreements herein
contained shall bind, and the ~ights hercunder shall inure to, the respective succeccors and assigns of I.cnJer and Bormwer.
subject to the provisions of paragraph 17 hcr~~L All ro~•cnants and agrcements of Borrqw~er shall he ji•int and sceeral.
'i?~e captions and headingc of the paraeraph~ of this Mortgage are for convenience only and are not to be u~ed to
interpret or de6ne the provisions hereof. -
14. Notice. Except for any notice reyuired under applicable law~ to be given in anather manner. ta1 an~~ notice to
Borrov?er pmvided for in this Mortgaee shall t,e given b}' mailing wch notice hy ccrtified mail addressed ta Borrow~er at
the Property Address or at sucf~ other address as Bi~rr.~wer ma~' designate bt~ notice to l.ender as provided herein. :ind
(bl any rtotice to Lender shal) he given b~• certified mnil; return receipt rcquested. ro l.ender s addres~c stated herein or to
such other address as I_ender may desienate b}• nntice to Borrow•er as provided herein. Any niitice provided for in this
Nortgage shall be deemed to havc bccn ¢ivcn to F~rmw•cr or t_ender ~•hen given in the manner deeignated herein.
I5. G~aiform Mortgage; Governin~ Laa•; Sevcrabilit}•. This f~rm of mortgage rnmbines ~~niform rnvenants for national
use and non-uniform covenants with limited variations h}~ jurisJicti~n to constitute a uniform securitp instrument covering
rea1 property_ Thic Mortgage shall be ¢overned h~~ thr laN• of the juricdiction in which the Property is located. In the ~
event ~hat any provision or clause o~ thiti Morigagc ~r the 1Vote conflictt a•ith applicahle iaw, such conflict shall not aBect
other prrnisions of this Mortgage or the Notr ~hich r~n be gi~~en efiert .vithoiit the conflicling prm~i~ion, and to this
end the provisions of the Mortgagc and the Note are Jcclared to he severablc.
16. Borrowe~s Copv. Borrower shall tx: furnisheJ a conf.~rmed copy of the Note and of this Mortgage at the time
of eaecution c?r af~er recordation hereof.
17. Transfer of the Property; Assumption. If all or any part of thc Amperty or an interest therein is sotd or tran~ferred ,
by Borrower without -Lender s prior Nritten consent. excludinR (a1 the ercation of a lien or enc?~mbrance suhordinate to
this Mortgage. (b) the creatian of a purcha~e mi•ne~• securi~}• inferest for household appliances, (e) a ~ransfer h~• devise.
descent or by operation of lav?• upon thc Jcath of a joint tenant or (di thc grant of any Icaschotd interest of threr ~•ears or less
not contain+ng an oPlion to purchase. I.ender ma~~, a~ Lender's option, dcclare all the sums secured b~• this ~1lartgage to t+e
immediately due and pa}able. Lender shall have u:~ived ~uch option to accelerate if. prior to the tiale or transfer. I.ender !
and the person to whom Ihe Property ic to be solcl or tr•rnsferred reach agreement in writing that the credit of such person ~
is satisfactor~• to Lender and that the interest payable on the sums serured by thic Morigage chall be at sach rate at l.ender ~
shal! 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, I_enJer shall release Borrower from all '
obligations under this Mortgage and the Note. ;
If Lender exercises such option to acceterate. Lender shall mail Sorrow•er notice of acceleration in accardancr w~ith
paragraph 14 hereof. Such notice shall provide a peri~ of not less than ?0 days from the date the notice is mailed within
which Borrower may pay the sums declared due. 1f Borrouer fails to pay such snms prior to the expiration of ~uch period.
Lender may. without further notice ar demand on Borrower, invoke any remedies permitted~h~ paragraph 1R hercof.
NoN-Utv~FOR~?t CovetveNrs. Borrower and Lender further covenant and agree as follows: ~
18. Aeceleratio~ Rtmedies. Except as pro~idM in parr~rapb 17 hereof. upon Borrower's breach of any covenant or "
a~ree~t of ~orrower ie t6~s Mortgage. including the covenants to pay when due any sams secared by thk Mortgage. i.eader ~
Prior ~o accekratbe shaY mail r+otice to Borrower as providcd in parag~ph 14 btreof specifying: (l) the breach; (2) the actan
reqoirrd to cro srch brese6; (3) a date, not kss t6an 30 days fmm t6e date tl~e notice is mailcd to Barrower. by whkh such ~
breach odt be nred; aod (4) t6at fai~ere to curt such breach on or before the d~e speci6ed ia the aotice may resdt in _
scedeiatioa ot tk s~ms secand 6y tbis Mortga~e. foreciowrr 6y judicLl Proceedin~ aad sak of tbe Property. 7Le notice
sba~ fartber i~tors Eorrower of tLe right to relnstafe sfter sccckration and tbe right to a~ert ia the fortclosure proceedit~ '
tre ~igteace of a defadt or aoy other defe~e of Borrower to accekration and foredosure. lf tbe breac~ ~S oot cnred oa
or betore tMe dak speci6ed ia t~e notice. Lender at Lender's option may declare aU oE the snms secnred by this Mortga~e to be ~
isoed~elp doe aod paya6ie wit6out furtl~er demand and may forrcMse tGts Mortga~e by judkLl procee~u~. Lender shaD
be eitifled to eodect fie ssc~ procseding all e:pe~ses of foreclosurr, iaclndi~, bat not limited to, reasoaabk sttoraey's tees.
aod eosts ot doc~~eNary eridence, abstracts aad litk reports.
l~. Sorrower"s Ri~t to Reia~tate. Notwithstanding Lender's acceleration of the sums secured by this Mortgage.
Borrower shall have the rigiu to have any proceedings begun by Lender to enforce this Mortgage diuontinued at any time ~
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