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l.ender's writte~ agrceme~t or applicable law. Borrowcr shall pay the amount of all mortgage i~surance premiums in thc '
man~e~ provideci unde~ paragraph 2 hercof. ;
Any amounts disbursed by I.enJcr pursuant to this paragraph 7, with interest thereon, shall become additional ~
indebtedness of Borrower secured by this Mortgage. Unless Borrowe~ and I.enJer agree to othe~ terms of payment, such ~
amounts shall be payable upon noticc from I.cnder to Borrawe~ reques~i~g payment thereot, and shall bea~ interest fmm the
date of disbursement at the rate payablc fram time to time on outsta~ding principal under the Note unless payment of ~
interest at such rnte would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate ~ ~
permissibk unde~ applicable law. Nothing contain~d in this paragraph 7 shall requirc I.ender to incur any expense or lake
any action hercunder. ~
8• lnspectba. Lender may make or cause to be made reasonable e~triec upoo and inspections of the Property, provided
that l.ender shal) give Borrower notice prior to any such inspectian specifying reasonable cause therefor related to I.ender's
interest in the Property. ~
9. Coadema~tbn. The proceeds of any award o~ claim for damages, direct or co~uquential, in connection with any #
condemnation or other taking of the Property, or pan the~eof, ar for conveyance in lieu af condemnation, are hereby assigr~ed +
and shall bc paid to Lender. ~
in the event of a total taking of the Pmpcrty. the proceeds shall he applieJ to ~he sums secured by this Mort~a~~. ;
with the eYCess, if any, paid to Borrowcr. In the event of a partial taking of the Propeny, unless Borrower and Lender ;
otherwise agree in writing, there shall be applied to the sums secured by thic Mortgage such proportion oE the ptoceeds ~
as is equa) to that proportion which the amount at the sumc secured by this Mortgage immediately prior to the date of
taking bears to the fair market vaiue of the Prop~;rty immediately prior to the date of taking, with the balance of the proceeds '
~naid to Borrower. ~ ~
1f the Property is aba~doned by Borrow•er, ar if. after notice by I.ender fo Borrower that the condemnor offers to make ~
an award or setNe a claim for damages, Borrower fails to respond to l.ender within 30 days after the date such notice is
' mailed, Lender is authorized to collect and apply the proceeds, at I_ender ~ aption, either to restoration or repair of the =
' Property or to the sums securcd by this Mortgage.
~ Untess I_ender and Borrow~er otherwise agree in ariting, any wch application of proceeds to principal shall not extend
( or postpone Ihe due da~e of the monthly i~stallmcros refer~cd to in paragraphs 1 and 2 hereof or change the a~ount of ;
~ such installme~ts. ~
10. Borrower Not Rekased. Extension of the time !or payment or mc~dification of amortization of the sums secured =
by this Mortgage granted by Ler.~~er to an~~ successor in interest of Borrower shall not operate to release, in any manner.
the liability of the original Borrower and Borrower's successors in interest. I.ender shall not Ue required to commence
prc~ceedings against such sucCessor or refu~ to extend time for payment or otherwise modify amortization of the sums
secured b~• this Mortgage hy reason of any demand made b}~ the oriRinal Borrower and Borrower s successors in interest.
U. Forbearance by I.ender Not a Wpiver. Any f~rhearanrc he I.cnder in ercrcising any right or remedy hereuoder, or
otherwise atTorded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
~ The procurement of insurance or the payment of tax~~ or other liens or charges by I.ender ~hall not be a waiver of Lender s
right to accelerate the maturity of the indebtednecs cecurcd hy this Mortgage.
~ lZ. Remedies Cumulati~e. All remedies pro~•ided in this Mortgage are distinct and cumulative to any olher right or
~ remedy imder this MortRage or aftorded hy law or equit}•, and ma~• be exercised concurrently, independently or successively. `
I 13. Snccessors and Assigns Bound; Joint and Se~•eral i.iability; Captions. The covenants and agreements herein ;
~ contained shall bind, and the rights hereunder shall inure to. the respective successars and accigns of Lender and BorroKer,
; subject to the provisions of paragraph 17 hereof. .All co~•enaots and agreementc oi Borrower shall be joint and several.
; The captions and headings of the paragraphs of this Martgage are for convenience only and are not to be used to
I ~nterpret or define the provisions hereof.
i 14. Notice. Except for any notice required under applicabie law• to be given in another manner. (a) any notice to
' Borrower pmvided for in this Mortgage shall be given h}• mailing wch notice by certified mail addressed to Borrow~er at
~ the Property Address or at such other address as Barrow•er mav designate by notice to T_ender as provided herein, and
; (b) any notice to Lender shall he given by certified mail, return receipt requested. to I ender s address stated herein or to
i such other address as tende~ may designate by notice t~~ Bormw~er as provided herein. Any notice provided for in this '
~ Mortgage shal) be deemed to have been given to Borrow~e~ or Lcnder when gi~•en in !he manner designated herein. s
~ 1S. Uaiform Morf
, Rage: Governin~ Iaw; Se.•erabilitv. This form of mongage combines uniform covenants for national
use and non-uniform covenants with limited ~~ariations by jorisdiction to constitute a ~niform security instn~ment covering
real propert}•. This Mortgage shall be governed h}~ the law• of the juricdiction in whict? the Property is located. tn the
event that any provision or clause of this Mortgage ~~r the Note conflicts Hith applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note which can be given efTect withoirt the conflictin rovision, and to this
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end the provis~ons of the Mortgage and the ~iote are declared to be severable.
16. Borrower's Copy. Borrow•er shall be furnisheJ a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof.
l7. Transfer of t6e Properfy; Assumption. if all or an~• pan of the Propcny or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. e~cluding lal the creation of a lien or encumbrance subordinate to .
this Mortgage. (b) the creation of a purchase mone}~ securit}• interest for household appliances, fc) a transfer by devise,
descent or by operation of law upon the death of a jo;nt tenant or (d) the grant of am• Icasehold interest of three yea~ or less
not containing an option to purchase, I_ender may, at Lender'~ option. d..:tare all the sums secured by this Mortgage to be
immediately due and payable. I_ender shall ha~~e waived such option to accelerate if, prior to the sale or transfer. I_ender
and the person to whom the Property is to be soW or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the iMerett payable on the sums secared by this Mortgage shall be at such rate as Lender
shall request_ Tf I_ender 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 b}• l.ender. I_ender shall release Borrower from all ~
obligations under this Mortgage and the Note. ~
tf Lender exercises such option to accelerate. I.e.^.der shall mail Borrower notice of acceleratian 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 ma}• pay the ~ums declared due. Ii Borro~er faik ~o pa)• such sums prior to the expiration of sach period.
Lender may, without further notice or demand on Borrov?~er. imoke am• remedies permitted by~ paragraph 1 R hereof.
r:or~-UxiFORt?t CovE~exrs. Borrower and Lender funher covenant and agree as follows:
18. Acceleratioo; Remedks. Except as provided in para~raph 17 hereof. upon Bornower's breach of aay covenant or
agreement of Borrower in t6is Mortgage, includinq the covenants to pay when due any sums secared 6y thk Mortgage, Lender
prior to accekration shaU mafl notice fo Borrower as prorided in paroqraph 14 hereof specifying: (1) the breach; (2) t6e action
required to cure suc6 breacb; (3) a date, not less than 30 days from the dale the notke is mafled to Borrower, by whic6 suc6
breach must be corcd; and (4) that failure to cure such brcach on or before the date speci6ed in tbe notke may result io ~
nccekration of tbe sams secnrcd by this Mortgage. foreclosure by judicial proceedirea and sale of fhe Proptrty. 'I7~e notice i
shafl furt6er Inform Borrower of the right to reinsfate afler acceleratioa and t6e right to assert in the forecloeure pmceeding
t6e noo-e:isteace of a defauk or any other defense of Borrower to scceleration and foreclasure. if the bresch is oot cored on
or beforc the date specified in tbe noticc, Lendcr at Lender's option may declare all of the snms secored by this Mortgage to be
immediately due and payabk wit6o0t further demand aad may foreclose thts Mortgage by judicial proccedin~. Leader shall
be eatitied to collect in sucb pmceediug all eYpeases of foreclosare, including. but ~at limited fo, reasonabk attorney's fees,
and costs of documentary evidence, abstracts and titk reports.
19. Borrower's R~6t to Reia~ate. Notwithstanding Lender s acceleration of the sums secured by this Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
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