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Lender's writte~ agrcement or applicable law. Borrower shall pay the amount of all mortgago insurance premiums in the i
manner provided unde~ paragraph 2 hereof. ~
Any amounts disburaed by I.ende~ pursuant to this paragraph 7, with interest thereon. shall become additional ~
indebtedness of Borrower securcd by this Mortgage. Unless Horrower and Lon~ie~ agree to oihe~ terms oi pay~il~~t, such
amounts shall be payable upon notice from Lcnder to Borrower requesting payment thereof, and shall bea~ interest from the ~
date of disbursement at the rate payable from time to time on aitstanding principal unde~ the Note unless payment oi ~
interest at such nte would be contnry to applicable law, in which event such amounts shall bear interat at the highest nte
permiuibk under applicable law. Nothi~g contained in this paragraph 7 shaq.require Lender to incur any expense or talce ~
any action hereunder.
S. Iwpectbo. Lender may make or cauu to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower r?otice prior to any such inspection specifying rea~nabk cause therefor rclatod to Lender's
interest in the Propdtty, ` ~ '
9. CoademAados.`Th`e tproc~eds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Property, or part thereaf, o~ for conveya~ce in lieu of condemnstion; are hettby sssigned
and shall be paid to I.ender. ~
~ In the evept of a total taking of the Propeny, the proceeds shall be applied to the sums socurcd by this Mo~tgage.
with the ttce~, if any, paid to Borrower. in the event of a partial taking of the Property, unless Borrower and i.ender
otherwise agree i~ writing, there shall be appiied to the sums secured by this Mortgage such proportion of the proceeds
as is equal to that proponion which the amount ot the sums secured by this Mortgage immediately prior to ihe date of
taking bears to the fair market value of the Praperty immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is abando~ed by Borcower, or if, after notice by Lender to Borrower that the rnndemnor offea 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, Lender a authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
Propcrty or~ to the sums securcd by this Mongage.
Unlas Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend
or postpone tht due date of the monthly installments referred to in paragraphs 1 and 2 htrcof or change the amount of
such installments.
10. Eorrower Not Releascd. Eatension of the time for payment or moditication of amortization of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner.
the liability of the original Borrower and Bc?rrower's successon in interest. Lender shal) not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
s~us~d b} this Martgag~ by rtasan o! sny demand madr by thr erigina! L~cirmwsr and BorrowePs successors in interest.
11. Forbesrance by Lender Not a Wdver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwise atiorded by applicable law, shall not be a waiver of or preclude the exereise of any such right or remedy.
The procurement of imurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
right to accelerate tlee maturity of the indebtedness securcd hy this Mortgage.
12. Remedies Cnmulad~e. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by lavir or equity, and may be exercised concurrently, independtntly or successively.
l3. Seccessors aad A~as Boand; Joint aad Several I.iaM'lify; Captbns. 'il~e coveoants and agreements herein
contained shal) bind. and the rights hercunder shall inure to, the respective successors and assigns of Lender and Borrower.
subject to the provisions of parag~aph 1'7 hereoL All covenants and agreements of Borrower shall be joint and severaL
"['he captions and headings of the paragraphs of this MurigagC are for convenience only and arc not to be used to
interprct or define the provisions hereof.
14. Notke. 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 be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower 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 i.ender s address stated herein or to
' such other address as Lender may designate by notice to Bormwer as provided herein. Any notice provided for in this
MortRage shall be deemed to have been given to Borrower or Lender when given in the manner designat~d herein.
IS. Uniform MortRa~e; Gorernin~ I.aw; Severabilit~. Th~s form ot mortgage comoines uniiorm covenanis iu~ nn~~~~~e~
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering
rcal property. This Mortgage shall be governed hy the law of the jurisdiction i~ which the Property is located. in the
event that any provision or clause of this- Mortgage or the I~ote conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note which can be given effect withoot the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severable.
16. Eorrowe~s Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after recordation hereof_
17. Tnatfer ot the Property: Assumption. If all or any part of the Property or an interest therein tis sold or transferred
by Borrower without Lender's prior written consent, excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creation of a purchase money xcurity 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 payabie. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lendtr
and the person to whom the Property is to be sold or transferred 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 Mortgagq shall be at such rate as Lender
shall request. if I,ender has waived the option to accelerate provided in this paragraph 17, and if Bonower's successor in
interat has exceuted a written assumption agreement accepted in writing by Lender, Lender shal) release Borrower from all
obligations under this Mortgage and the Note. ~
If Lender exercises such option-to accelerate. [.ender shall mail Bonower 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 pay the sums doclared due. If Borrower fails to pay such sums prior to the expiration of such period.
i Lender may, without further notice or demand on Borrower, invoke any remedies~ permitted by paragraph 18 hereof.
~ Notv-UN~FORtK Covex~rtrs. Bomower and Lender further covenant and agree as followa:
18. Acceleratbs; Remedks. Except sis provlded ia paragrap6 17 hereof, apoo Sorrower's breach of any coveoaat or
a~reemeat ot Eorrower in t6is Mortgage, includln6 t6e rnvenants to pay when dee any snms ~ecored by t64 Mo~a`e, I.eeder
; Prior to accekratiop sbdl mail ootice to Borrower as provided in paragn~ph 14 hereot speciE}io~: (1) tl~e Meacb; (2) tbe action
required to care soc6 bnacb; (3) a date, not las than 30 days trom the dste t6e notice is maikd to Borrower, Iry w6k6 socb
brr,ach mod be cored; aod (4) tlwt fatlnre to cnre sucb bresch on or before the d~e spe~i6ed in the ootke ma~ radt in
accekratlos ot tl~e wms secored by t6ts Mortgage, foreclo~re by jndicial proceedia~ and sale of t6e Property. 'ILe notkt
shaU furtber fntorm Borrower of the rigW to reiustah sfter acceleration a~d the ri=6t to assert fa tl~e foreclosnre procecd~
tbe ooa-existeoce of s defauk or any Mber defense of Borrower to accekntbo ani foreclowre. If the breseb M oot cared o0
~ or bdore tbe dm speci8ed in t6e nMke, Lender at Lende~'s optbn may declare aD of t6e sums sernred by this Mort~e b 6e
iwmedLtdy dae aad pqable wit6out fnrtber demsnd and may forecl~e t6k Mort=a`e by judicid proceediu~• Leader s~
~ 6e eadtkd to coilcct le sncb proceediu` all e:penses of foreclosore, including, but not llmited to, rea~onabk attoroey's iea,
and cosb of docnmeatary e~ideoce, ab~trscta and tltk reports.
` 19. do~rowe~s Rl~bt to Reimt~e. Notwithstanding Lender's acceleration of the sums secured by this MoRgage,
i Borrower shall have the right to have any proccedings begun by Lender to enforce this Mortgage discontinued at aoy tirr~e
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