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Lcnder's written agrcement or applirabie law. Borrower shall pay the amount of all mor~gage ipsurance premiutns in the
manne~ provided under paragraph 2 hereot.
Any amounts disburxd by Lender pursuant to this paragraph 7, with intercst thereon, shali become additional
indebtedness of Bor~ower secured by this Mortgage. Unless Borrower and l_enJer agree to other tetms of ~payment, such
amounts shall be payable upon notire frnm l.ender ta Borrower requesting payment thereof, and shall bcar intcrest from the
date of disbursement at the rate payable from timc to time on outstanding principal unde~ the Note unless payment of
intercst at such rate woulJ be conirary to applicable law, in w~hich event such amounts shall bear interat at tt~e highest rate
permissible u~der applicable law. Nothing contain~d in this paragraph 7 shall require I.ender to incur apy axpeo~e or take
a~y action hercuadar. '
8. Iaspecfbn. i_ender may make or cauu to be made reasonable entries upon and inspectio~s of the Property, provided
that L.ender shall give Borrower notice prior to any such inspection specifying rcasonable cause therefor relatcd to I.ender's
interest in the Property.
9. Condemaatbn. The proceeds of any aw•ard or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereof, ar for conveyance in lieu of condemnation, are hercby assigned
and shall be paid to Lender.
In the event of a total taking of the Property, the pro:,eeds shall be applied to the cums securcd by this Mortgage.
v?•ith the eYCess, if any, paid ro Borrowe~. in ~he event of a partial taking of the Property, unless Borrower and Lendtr
otherwise agrce in writing, thero shall be applied ta the sums secured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Property immediately priar to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
mailed. L.ender is authorized to coliect and apply the prcueeds, at I.ender's option, either to restoration or r~pair of the
Propeny or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. Fxtension of the time for payment or modification of amorti~tion of the sums securcd
by this Mortgage granted by I_ender to any successor in interest of Borrow~er shall not operate to release, io any manner,
the liability of the original Borrower and Borrower's successors in ioterest. Le~der shall not he rrquired to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
secured b}• this Mortgage by reason of an?• demand made by the original Borrower and Borrower s wcces~ors in interest.
11. Forbearance by Lender Not a Wai~•er. Any forbearance by I_ender in exercising any right or remedy hereunder, or
otherwix afTorded 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 taxes or other liens or charges by Lender shall not be a waiver of Lender s
right to accelerate the maturity of the indebtedness secured hy this Mortgage.
12. Remcdies Cnmulati~e. All remedies provided in this Mortgage are distinct and comulative to any ather right or
remedy under this Mortgage or afforded by law or equity, and may be ezercised concurrendy, independently or successively.
13. Snccesson and A~os Bound: Joint and Several i.isbilfty; Captbns. The covenants and agreements hereio
contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
subject to the provisions of Paragraph 17 hereof. All covenants and agreements of Borrower shall be ioint and several.
The captions and headings of the paragraphs of this Mongage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notire. Except for any notice required under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Mortgage shall lx given by mailing auch notice by certified mail addressed to Borrower at
1he Property Address or at such other address as Borrow~er ma~~ designate by notice to i.ender as provided herein. and
(b) any notice to Lender shall be given by certified mail, retum receipt requested. to l.ender s address stated herein or to
j such other address as Lender map designate by nolice to Borrower as pro~~ided herein. Any notice provided for in ihis
Mortgage shalt be deemed to have been given to Borrower or 1_ender µ~hen given in the manner designated herein.
, lS. Uniform Mortgage; GoverninR Law; Se~erability. This form of mortgage combines uniform covenants for national
i use and aon-uniform covenants with limited variations hy jurisdiction to constitute a uniform security inslrument covering
~ rcal property. 'I~is Mortgage shall be ~toverned hp the law of the jurisdiction in which the Property is located. In the
event that any provision or clause of this Mortgage or the Ivote conflicts w~ith applicable law, such conflict shall not affect
~ other provisions of this Mortgage or the Note which can be given efTect without the conflicting provision, and to this
end the provisions of the Mortgage and the ~'ote are declared to be severable.
c 16. Sorrov~er's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
~ of execution or after rccordation hereof.
~ 17. Transfer of the Property: Assumption.. If all or an~• part of the Property or an interest_therein is sold or transferred
~ by Borrower without lxnder's prior written consent, excluding lal the creation of a lien or encumbrance subordinate to
5 this Mortgage. (b) tfie creation of a purchase money cecurity interest for household appliances, (c) a transfer by devise,
~ descent or by operation of law upon the death of a joint tenant or (d? the grant of any leasehold interest of three years or less
~ not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Mortgage to be
~ immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
~ and the person to whom the Property is to be sold or transierred 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
~ 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 Lender, Lender shall release Borrower from all
~ obligations under this Mortgage and the Note.
~ If Lender exercises such option to accelerate. [_ender shall mail Borrower notice of acceleration in accordance with
; 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 pa~• the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period.
~ Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
~
~ NoN-UN~FOxt~t CoverrexTS. Borrower and Lender further covenant and agree as follows:
18. Accelention; Remcdks. Faccpt ~ provMed in paragraph 1~ hereof, upon Borrone~s breac6 of any covenant or
~ agreement of Borrower in t6is Mortg~e, includiog t6e covenants to pay when due any snms secnred by this Mortgage, Leadcr ~
~ priot fo accekratioa ahaIl mail aotice to dorrower as provided in par~nph 14 bereof specifyin~: (1) tbe bre~cb; (2) tbe ~c~tion ~
y
` requlred to cure sac~ breach; (3) a date, ad less t6an 30 days from tbe dste the notice 4 mailed to Borrower, by whk6 wcb
breac6 mmt be cand; and (4) that failure to cure snch breach on or beforo the dste speci6ed ia the notke may radt in
accekration of t~e soms secored by tbts Mortgage, forecbwre by judicial proceedin~ snd sak of t6e Property. 'Ibe notice ~
k shall furtber lafonu Eorror?er of the ri`ht to rei~tate after accelention aad the dgbt to ~naert io t6e forsclosure proceedtnL
~ t6e ooo-e:istence of s defwN or aay otber defenstof Borrower to acceferatbo and fonclosure. If tbe breac6 is not cured on
' or befort tbe date specUied in t6e notice, Lender at LendePs option may declare aQ of tbe snms secand 6y thb Mo~sse to be
- immediatdy doe and pays6ie wkbont furt6er demand and auy foreclose t6Ls Mo~a~e by judlcW proceedio=. Lender s6a~
~ be entftled to colkrt jn snc6 pmceedin~ n0 expeosa of foreclosurr, includlu=, but oot limited to, nawn~bk stto~e~s fea,
r ~11d COi~f OI dOCD1OtAl~ lYldltlCls ~~Od fhI! ilpO~S. i
~ 19. Dormr?er's Ri`6t to Ref~tate. Notwithstanding Lender s accderation of the sums secured by this Mortgage,
~ Borrower shall have the right to have any proceedings beRun by Lender to enforce this Mortgage discontinued at any time
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