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Home My WebLink About0760 l.eoder's written agreemen~ or applicabk law. BoROwer shall pay the amount ot all niortgage insurance prcmiumt in tbe manr?er p~ovided under paragraph 2 hereof. ~ Any amounts disbursed by 1_en~ier pursuant to this pang~sph 7, with iaterest thereon, shall become add~tiooal indeb~edness ot Borrower securcd by ~hic Mongage. Unless BoROwer and I.enJer agroe to olher tertns ot paymeo~ such amounts shall be payaMc upon notice f~c~m I.cnder to Borrower roquesting payment thereof, and shaU bea~ interest from the date of disbursemeM at the rate payabk from time to time on a~tsunding pri~cipal under the Note urdas payment ot intercst at such nte would be contrary to apPlicabk law, in which event such amount: sAall bear interest at the hi~ rale permissibk unde~ applicabk law. Nothieg contained in this paragraph 7 shall require I_ender to incur any expen~e or take ~ any actioo hereunder. S. lrspectio~. i_ender may make or cause to be made rcuonabk entries upon and inspections of the Propertp. pro~?ided that l_ender shall Rive BoROwer rwtice pric~r ta any s~~ch inspection spocifying eeasonabk cause therefor relatcd to La~dePs interest in the Propeny. Co~de~astb~. The proc~eeds of ai1~? award or claim for damages. direct or conseguential, in coonaction ~rith anr condem~ation o~ other ~aking of the Property, or part thercof, or for conveysnce_ in lieu~of condemnation. are hereb~? sssi~ned and shall be paid to I~nder. In the event of a tot~l taking of the~PropeNy. the procYeds chall be applied to the nims securcd by this Mort`a~e. with the excess, it any, paid to Borrower. In Ihe cvent of a partial taking of thc Propetty, unless Borrower and I.eoder • otherwise agrce in writin~t. therc shall be applied to the sums secured by this Mongage such pt+oportion of the pmoeedt u is equal to that proportion vvhich the amount of ti~c sumc securcd by this Mortgalte immediately priar to the dde at talcing bean to the [air markN value of the Propeny immedi~tely prior to the date of taking, with the balance of the pmceeds paid to Borrower. If the Property is ahandoned by Bor:ower, or if. after notice by Lender to Borrower that the ooedemnor ofkn W ntdce . an award or setlk a claim tor damages. Bc?r~mver fails to respond to Lender withio 30 days after ~the date such notioe is mailed. Lender is authoriud to collect and app{y ~he proceeds. at I.ende~'s option, either to ratoration o~ ~epair of the . Ptoperty or to the sums sccured by this Mor~~tage. linlas ~ender and Borrower ahervvice agrce in writing, aoy such applicatio~ of proc~eds to principal shall not extend . o~ po~+Qone the due date of the monthly installments rcferred to in paragraphs 1 and 2 hereof or chanEe the amount ot such installrt~ents. lA. eort+nwer Nof Rekased. 6xtension of the time for payment or moditkation of amortizition of the wms secured by ihis Mongage gnnted by Lender to any cuccector in intercst of Borrower shall not ope~ate to rekase, in any manner. 16~ liability of the original Botrower and Bc+rrower s successon in interat. Lender shall nut be requircd to commena proceedings against such successor or ref~~u t~ extend time for payment or othenvise modify amo~tization of the s~~~ra . securcd by this Mortgage by rezson o( •ray demand made by the oriR~nal Borrowe~ and Borrower's wccessors in intercst. 11. Forbeara~ce br I.eeder Not s Wai~er. Any f~~+earance by Lender in exercising any right or remedy he~mder, or othervvise affordod by applicabk law. shall not be a waiver of or preclude the exercise of any soch right or cemedy. The proctircment of insuranoe or the payment of taxes or other licns or charges by Lender shall not be a waiver of Le~der't right to acceleratc the maturity of the indebtednesc sea~rcd hy this Mortgage. l2. Re~weaies CnaahM~e. All remedies provided in this Mortgage arc dislinct and cumulative to sny othe~ riaht or rcmedy under this Mortgage or afforded hy Iaw or equity, and may be exercised concurtently, independentty or sucoessivtty. ' 13. S~eee~oes aad AssiR~s Sonn~:.Joi~t ani Se~ed iLbi~ty: Csptbas. The covenants and a~eemmts herein contained shall bind, and the riRhts hereunder shall inur~ to. the respoctive successors and assigns of Let~der spd Borrower. ' subject to the provisions of pa~agraph 17 hercof. All rnvenants and agreements of Borrower shall be jary and several. The captions' and headings of the paragraphx of this Mortgage arc for convenience only and. are oot to Ik wed to interprct or define the provisions herec~f. 14. Nofke. Except for any notice rcqoired under applicable law to be given in another manner, (a) any ratice to Borrower p~ovided for in this Mongaae shall be given by mailing such ~otice by certifled mail addrcssed to Borrower ~t the Property Addrcss or at such dher addrcss~ as Bormwe~ may designate by notice to i.ender as provided hercin, and (b) any notict to Lender shall t+e given by certifxd mail. rctum rcoeipt requestod. to Lende~s addras stated hersin or to such other address as Lender may deci~tnate by ~u~tice to Borrower as provided herein. Any notice pmvided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner desianattd herein. 1S. U~ifors Mo~t~e: Gorerni~ Law: Se•erabil~. This fornn of mortgage combines uniform oovenants for national. use and ~wn-unifoRn covenants with limited variations by jurisdiction to constitute a uniform security instrument ooverina j r~eal property. 'il~is Mortgage shalt be governed hy the law of the jurisdiction i~ which the Property is located. In the ~ event that any provision or clause of thic Mortgage or the Note conflicts with applicabk law. such conflict shall not afkct ~ other provisions of this Mortgage or the Note which can be given eBect withoat the conflicting provision, and to this . end the provisions of the Mongage and the Note arc Jeclarcd to he sevenbk. ~ li. Sorrowers Co~y. Borrower shall be furnished a conformed copy of the Note and of this Matgage at the time ~ of exccution or after recordation hereof. 17. .Tra~rfer of tbe Pro'e~ty: Assow~Wioa. 1f all or any pan of the Property or an interat thercin is sold or tnnsferred ~ by Borrower without I.eeder's prioi writtcn cons_nt. excluding (al the creation of a lien or encumbrance wbordinate to this Mortgage, (b) the creatux~ of a purchace money security interest for houxhold appliances. (c1 a tnnsfer hy devise. ~ daoet~t or by operation of law upon the death of a joint tenant or (d) the grant of any kasehold interat of threc years or kss not containing an option to purchase, Lender may, at Lender's option. declare all the sums axurcd by this Mortaaae to be immediately due and payable. Lender shall have v?•aivcd such option to accelerate if, prior to the cak or transfer. Lend~r and the person to whom the Propeny ic t~~ be co1J or tnnsferrcd reach agrcement in writin~ that the crcdit of cuch person is utisfactory to Lender and that the interr~t payable on the sums secured by this Mortgage shall be at s~~ch rate ac Lender ~ shall rrquat. if Lender hu waivod the option to accelerate provided in this paragnph 17, and if Borrower s successor in ~ interat hu executed a written assumption agreement ucepted in writing by Lender, Lrnder shall rckase Borrower from all ~ obluations under this Mongage and the Nae. If Lender exercisa such option to ucekrate, Lender shall mail Borrower notice of accekration in accordanc~ v?•i~h ~ puajnph 14 hereoE Such notice shall provide a period of not las than 30 days from the date the notice is maikd within which Borrower may pay tlx wms declared due. if Borrower fails to pay such xims prior to the eapiration ot such period. ~ Lender may, without further notice or demand on Borrower, invoke any remedia permitted by paraaraph 18 herec~f. No~t-UxtFOnt~t CoveNSrrrs. Borro~wer and Lender funher covenant and a~roe as fdlo~rs: ls. Acede~aNo~: Re~edks. Ezcep a~ provlied f~ p~ra'U 17 Uersd. Ro~ io~ro~e~s 6~eaei ot awy ce~ewt K ~ a~ree~a~t of i~rwrer V tM4 Mo~a~e. ~i tMe eo~eaMfs to ~ whe~ a~e ary~ w~s seewei bl tAY 1No~iR~e~ l.e~ ~rior to sctder~do~ sW wsil eotk~e fo eorrower as rro~We~ i~ pn~ra~ii 11 renot sretY~s (1) tMt Ms~tM: (21 IUt sefio~ ~ e~i Io awe wer Meae~ (3) a~Me. ~ot le~ t~ 3Y asrs iruw tUe ~ate t~e ~otiee r~a6e~ ii tlie wotlce ~a ee~il i~ ~ l~eac~ ~rt ~e e~rc~ a~i (4) trat hW~e ts a~e ael~ MescM o~ or ~elore ti~e dMe yeelie~ - aecderatlo. or ue s~r ,ec.roa br aa. Ma1~a~c. roseelosue h l~~ r~L ,~le or ne rnu~erry. 71~e .oaa W ~ af~aM tr~er hter~ loreo~wer at tYe ~bt to rei~tale after ~eceleuMio~ ~ tMe rl~Mt b reA iw tre foreelawe ~eeeeeil~ tre ~o~t~tesce at s ~ets~lt or awy otYer ~ctewsc o1 ~on~ower to sccekrMio~ swi tonelo~ere. N tMe Mexti ts ~of e~ e~ ~ or bdae I~e iale ~edie~ i~ twe wdke. Le~er st t.ewaer's o/tios ~ dcehre a~ ~I tl~e s~~ sserter by IAr Morf~aRe ts be ~ dre a~i pyaMe wit~oM liuthe? dananA aad ~.y taecio.e aa. ~to~ate b l.+kw ~.oeeea~. Lender.d~aN ie ~ be e~tldei to telket i~ we~ N+ocee~i ai esptnses nf foreclosrre. M~cl~i~. brt Mt ~i M. rea~owable stl~x~er's fees. a~i aab ot ioc~.-~e~tar~ e~?i~Cwce+ absnsets ~ tkk re'orb. ~ 1!. ~a's Rkit t~ Rd~Mate• NM"r~hstu'din~t Lender s acoekration of the sums securod by th~t Mortaa~e. ~ Borrowu shall have the right to have any procesdings hegun hy l.ender to enforce this Monga~e discontinued at any time ~ ~ - R ] ~ ~ ~ $G~r z , ~ - ~ w t:~~~ ~ _ _ _ _ _ . - ~ ~ ~ r T- v- . . . G ~.f'~~i"'=+ .