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Lender's written agreement or applicable law. Borrower shalt pay the amount of all mortgage insurance premioms in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such
amounts shall be payahk ttpc?n ttotiFe from Lender to Borrower requesting payment iherec?f, and shall bear interest from the '
date of dtsbttrsement at the rate payahk from tithe to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate
. permissibk under applicable law. Nothing rnntained in this paragraph shall require Lender to incur any expense or take
any action hereunder.
a. laspeetioa, lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that lender shall give Borrower notice Ptti~x, yc~ahx's1~ch inspection specifying reasonabk cause therefor related to Lender's
interest in the Property. •
9. Condtmnatbn. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Properly, or pan thereof, or for conveyance in lieu of condemnation, are hereby assigned
and s:iall be paid to Lender.
in the event of a to1a1 taking of the Property. the proceeds shall be applied to the sums secured by this Mortgage,
with the excess, if any, paid to Borrower. in the event of a partial taking of the Property, unless Borrower and Lender
otherwise agree in writing. there shall be applied to 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 prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is ahandoneci 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 fail, to respond to lender within 30 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at Tender's option, either to restoration or repair of the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in w•rit~nc. an}• 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 inxtallments.
t0. borrower Not Released. F.xtcnsion of the Time for payment or modification of amortization of the sums secured
by this Mortgage granted by I.encier to any cuccecsor in intercct of Borrower shall not operate to release. in any manner.
the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to rnmmence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortizatirn? of the gums
secured by this Mortgage by reason of :m}• demand made by the original Borrower and Borrowers successors in interest.
11. Forbearance by Lender Not a Waiver. Anr fortxarancc h}• 1 ender in exercising any right or remedy hereunder, or
otherwise afforded 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 by this Mortgage.
12. Remedies Camulatire. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or eyuity.:md may be exercised concurrently, independently or successively.
' 13. Snecessors and Assigns Bound; Joint and Several i.iability; Captions. The covenants and agreemen~s herein
contained shall bind, and the rights hereunder shalt imire 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 joirU and several.
The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to
interpret or define the provisions hereof.
14. Notice. Except for any notice required under applicable law, to be given in another manner. (a) any notice to
Borrower provided for in this Mortgaee shall be given h}• mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower mar designate by notice to Lender as provided herein. and
(h) any notice to Lender shall be given fiy certified mail, velum receipt requested. to Lenders address stated herein or to
such ocher address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
~ 1S. Uniform Mort
Rage: Governing I.aw~; Severabilit~•. This form of mortgage combines uniform covenants for national
use and non-uniform rnvenantc with limited variations h}' jurisdiction to constitute a uniform security instrument covering
! real properly. This Mortgage shall he governed hr the law, of the jurisdiction in which the Property is located. 1n the
i event that any provision or clause of this Mortgage or the Note conflicts with applicable law. such conflict shall not affect
other provisions of this Mortgage or the Note which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the 'Vote arc ~Icclared to be severable.
16. borrower's Copy. Borrower shall Ix: furnished a conformed cop} of the Note and of this Mortgage at the time
f of execution or after recordation hereof.
17. Transfer of the Property; Assumption. )f :?11 or an}• part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior wrinen consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation of a purcha.c monc}• securit}• interest for household appliances, (c) a transfer by devise.
descent or by operation of law, upon the death of a j~~int tenant or (d? the grant of any leasehold interest of three },ears or kcs
I not containing an option to purchase, Lender ma}•. at 1_ender'c 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 t?e .ol.l or transferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest pa}able 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 i 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, I.endcr shall mail Borrower notice of acceleration in accordance ith
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 sums prior to the expiration of wch peri~xl.
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph IR hereof.
Note-UNIFORM Covetv,?NTS. Borrower and Lender further covenant and agree as follows:
18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
agreement of Borrower in this Mortgage, including the covenants to pay when due any sums secured by this Mortgage. Lender
prior to accekratioa shall mail notice to borrower as provided in paragraph 14 hereof specifying: (1) the brcscb; (2) the action
required to cure sorb breach; (3) a date, not kss than 30 days from the date the notice is mailed to borrower, by which such
fi breach mnat be cored; and (4) that failure to cure such breach on or before the date specBfied in the notice may result in
accekration of the sums secured by this Mortgage. foreclosure by judicial proceeding and sak of the Property. Tbc notice
shall fnttber inform Borrower of the right to reinstate after accekration and the right to assert in the foreclosure pt•oceediug
the non-existence of a default or say other defense of Borrower to accekration and forecbsurr. If the breach is not cured on
or before the date specified is the notice. Lender at Lender's option may declare all of the sums secured 6y this MortRate to be
immediately due and payahk without further demand end may foreclose this Mortgage by judicid proceeding. Lender shall
bs eatitkd to collect iA such proceeding afl expenses ni foreclosure. including, but not limited to, reasonabk att.?rnr ~'s fees,
sad costs of ~iucti!aeatary evidence, abstracts and titk reports.
19. borrower's Right to Reiast:te. Notwithstanding Lender's acceleration of the sums secured by the Martgage,
Borrower shall have the right to have any proceedmgs I?cgun ~y Lender to enforce this Mortgage discontinued at any time
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