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IxnJer's written agreement or applKabk law. Borrower ahall pay the amount ot a11 mortgage insurance p~emiums in the
manncr provided under paragraph 2 heroof.
Any amounls disbuned by I.ende~ pursuant lo thu paragraph 7, with intercxt thercon, shall become additional
indebtcdness of Borrowc~ secured by Ihis Mongage. Unless Bo~rower and I_enJer agree to othe~ temu of payme~t. such
amcwnts shall be p~yable upon nc~tice from I.ender ta Borrowe~ requosting paytnenl thereof, and shall bear inlercst fmm the
date of disbursement at thc rate payabk from time to time on outatanding principal under the Note u~less parmp~t of
interest at such rate would be contrary ta applicable law, in which ovent such amounts shall bear interest at the hial~est rate
permissible under applicabk Iaw. Nathing conlained in Ihis paragraph 7 shall tequire I,ender to incur any expetue or take
any action hereunder.
S. ~aspectioa. [.e~ckr may make or cause to be made reuonabk eotries upon and inspections of the Property~ provided
that I_e~der shall give Borrower nolice p~~~r ta any such inspection speci(ying rcasc~nabk cause therefor related to ~,rnder'a
iMerest in the Propcrty.
9• C°4demuatbn• The proceedt of any award or claim for damages, dirccl or consequential. in conr~ection with any
condemnation ar other taking of the Propeny, or part t)~ereaf, or for conveyance in lieu of condemnation, arc hereby usigned
and shall be paid to I.ender.
in lhe event of a talal taking of the Propeny, the prcxeec's chall be applied to the sums secured by this Mortgage,
with the excess, if any, paid to Borrower. ln thc event of a pa~tial Iaking of the Property, unless Bomower and Le~der
a~herwise agree in writing, ther+e shall be applied to Ihe sums secured by this Mortgage such proportion of the prooeeds
as is equal to that praportion w•hich Ihe amounl of ~he sumc secured by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Prapcny immediately prior to the Jate of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoneJ by Borrower, or if. after no~ice by i_ender to Bormwer that the rnndemr~or oifiers to mal~e
an award or settle a claim far damages, B~rrower fails to respand to l.ender within 30 days after the date such notice is
mailtd, I.ender is authorized to rnllect and apply the proceeds, at i_ender's option, either to ~estoration or t+epair of the
Praperty or to the sums sccu~ed by Ihis Morlgage.
Unlesc I_ender and Borrower otherwice agree in u•riting, any such application af p~oceeds to principal yhal) not extend
or postpone the due date af the monthly installmcnts rcferred to in paragraphs 1 and 2 hereof or change the amount of
such installments. .
10. Borrower Not Rekased, Extension of the time for payment or modification of amortization of the swns secured
by this Mortgage granted by I.ender to any cuccessor in interect of Borrower shall not aperate to release, in any manner,
the liability of the original Borrower and Borrower's successors in intercst. i_ender shall not be required ta commence
proceedings against such successor or-refuce to eYtenJ time for paymeot or otherwise modify amortizat~on of thr wms
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower
s successors in in~erect.
' 11• Forbearance by I.ender Nof a Waivcr. Any forhearance by l.ender in exercising any right or remedy hereunder, or
othenvise afforded hy 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 l.ender shall not tx a waiver of Lender's
right to accelerate the maturity of the indeh~edness securrd hy this Mortgage.
12. Remedies Cnmulati~e. All remedies pmvided in this Mortgage are distinct and cumulative to any other right or '
remeJy under this Mortgage or afforded hy law or equity, and may be exercised concurrently, independently or successively.
~ l3. Saccessors and A~ns Buond; ,,1o~at and Sereral i.iabillfy; Captb~. The covenants and agreements herein
contained shall hind, and the riRhts hereunder shalt inare to, the respective successors and assigns of I_ender aod Borrower_
subject to the provisionc of paragraph 17 hereof. All covenants and agreements of Borrower shall be joir~ and several.
The captions and headings of the paragraph~ of this Mortgage are for convenience only and are not to be used to
interpret ar define the provisions hereof_ ~
14. Notice. Except for any notice reyuired under applicable law to be given in another manner, (a) any notice to
Borrower provided for in Ihis Mortga¢e shall he given hy mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other addres~ as Bormwer may d~signate by: no~ice to i.ender as provided herein, and
(b),any notice !o l.ender shall he given by certified mail, retiim receipt requested. to I.ender's address stated herein or to
such other address as l.ender may de~ignate by notice to Borrower as provided herein. Any notice pmvided for in this
Mortgage shal) be deemed to havc been given to Bc?rrower or 1_ender when given in the manner designated herein.
1S. Uniform Mort~a~e: Gorernin~ iaw•; Severabitify. This form of mortgage combines uniform covenants for national
use and nc~n-uniform covenamc with limited variations hy jurisdiciion to constitute a uniform security instrument covering
real properry. This Mortgage shall be overned h•
j event that anp provision or clause of th~ Mortga¢c i
rh hc Note confl ctsSdwith applicablehlawe such conflict' hal) notjaffect
~ other provisions of this Mortgage or the N~,tr which can be given effect~ withoi~t the conflicting pmvision, and to this
; end the provisions of the Mortgage and the Note arc declared to he severable. -
' 16. Borrower's Copy. Borrower ~hall be farnished a conformed copy of the Note and of this Mortgage at the time
of execution or afte~ recordation hereof_ ~
l7. Transfer of the Propertv; Ascumption. If all or any part of the Pmperty or an interest therein is sold or transferred
; by Borrower without Lender's prior wrinrn consent. excluding la) the creation of a lien or encumbrance suhorJinate to
~ this Mortgage. (b) the creahon of a purchace m~~ne}• ucurity interest for household appliances. (c)~ a trancfer hv devix.
; descent or by operation of law• upon the death of a jo~nt tenant or (d1 the grant of any leasehold interest of three years or lecc
~ not containing an option to purchase, Lender may, at l_ender'c option, declare all the sums secured hy this Mortgage to be
' ~mmediately due and payable. Lcnder shall have waived such oplion to accelerate if, prior to ~he cale or transfer_ 1_ender
~ and the person to whom the Property iti t~~ be :oIJ c.r transferrcd reach agreement in writing that the credit c.f wch percon
~ is satisfactory to I_enJe~ and that the interr.t pa~~able .on the sums secured by this Mortgage shall be at soch rate aa T_ender
? shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in ~
a interest has executed a written assumption agreement accepted in writing by I_ender, 1_ender shall release Borrower from all
~ obligations under this Mortgage and the Note. '
~ If Lender exercises such option to acrelerate. 1_ender shall mail Borrower notice of acceleration in accordancr ~ih
~ 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 the sums declared due. If Borrower fails to pay such sams prior to ~he expiration of coch perie~ci,
~ Lender may, without further nolice or demand on Borrower. invoke any remedies permitted by paragraph IR hcreof.
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~ NoN-UNiFOxtit CovErreNTS. Borrower and l.ender funher covenant and agree as follows:
~ l8. Acceleratloo; Remedks. Exce ~s rovided io
P~ P para~npb 1'f hereof~ upon gorrow~rs brescb of any covensnt or
agrcemtnt of Borrower in t6is Mortgage. includi~ tbe corenants to pay when due any soms secured by this Mortgsge. I.ender
prior to accekntbn shall mail notice to eorrower as provWed in para~rsph 14 hereo[ speci/ylo~; (1) th~ breach~ ~2~ ~he acta~
: requir+ed to care snc6 bnsch; (3) s dalr. not kss thsn 30 days from Ibe date the notke b maqed to eorrower. by.vrhic6 sucb
' breach mu~st be cured; aad (4) that fajlure to cure such brcsch on or before the d~e specified in the notke may result in
accekrstion of tbe sdms secnred by this Mort=a~e. /orecfosure by judkial proceedins and sak of the Pmperty. 'ibe notice
; shall further inform Borrower of Ibe riRbt to reiratate afler sccekration and the right b~ert in the forecbsurr p~+oceedin6
' tbe non-ezistence of a defauk or any other detense of Borrower b sccclenfion snd forecbsure. If the bresch Ls not cnred ouu
; or before the dste speeified ia the notice. Lender ~t [.ender's option may declu~e aq of ~ht snms secnred bp this MortRaRe to be
~ immediately due and payabk wifbout furlher demand ~nd may foreclose tbk Mortaa~e by judicial proceedie~. I.endcr cha11 '
be entitled to collect in wc~ proceedin~ aq expenses of foreclosure. iacludin=, but oot Bmifed to. rrasonaDk att•,rnev's fees.
and costs of documeatary evldence, abstr~cts and ~itk reports.
; l9. aorrower's Ri6ht to Reiac~~e. Nolwilhstanding I.ender's acceleration of the sums secured by ~h~c Mongage.
a Borrower shall have the right to have any procecdmgs txFun hy Lender to enforce this Mortgage discontinued at any time l
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