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l.endcr'c w•rittcn agreement or applicable law. Borrower shall pay the amount of all mortgage msurancc premiums in the
manner pr.wided under paragraph 2 hereof.
Am• amounts disbursed by Lender pursuant to this paragraph 7, with ioterect thereon, shall become additional
indchteJness of Borrower secured by this Mortgage. l'nlesc Borro~~er ant 1 enter agree to other terms of payment, such
amounts .hall be pryahlc upon notice fn~m Lender to Borrower rcyuesting p:+yment thereof, and shall hear interest from the
date of dichursement at the rate payable from time to time on outstanding principal under the Note unless payment of
interest at such rare would be cgntrary to applicable law. in which event such amounts shall hear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
8. inspection. !.cosier may make or cause to be made reasonable entries upon and inspections of the Property. provided
that lender shall give Borrower notice prior to any such inspection sp+~cifying reasonable cat+u therefor related to Lender's
interest in the Property.
9, Condemnation. The proceeds of any award or claim for damages. direct or consequential. in connection with any
condemnation or other taking of the Property, or art thereof, or for conveyance in lieu of condemnation, are hereby assigned
and shall be paid to Lender. ) ` '
In the event of a total taking;of tfie Property, the proceeds shall be applied to the cams secured by this 1ltortgage.
with the excess, if any, paid to Borrower. in the event of a partial taking of the Property, unh-cc Borrower and Lender
otherwise agree in writing. there shall be applied to the sums secured by this Mortgage each proportion of the proceeds
as is equal to that proportion which the amount of the sums secured h}• this Mortgage immediatel}• prior to the date of
taking hears to the fair market value of the Propert}• immediate)}• prior to the date of taking, with the balance of the proceeds
paid to Borrower.
if the PI•operiy is abandoned by Borrower, or if. after notice by i_ender to Borrower that the condemnor offers to make
an award or settle a claim for damages. Borrower fails to respond to i-ender within 30 days after the date arch notice is
mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
Property or to the sums secured by this Mortgage.
liJnless lender and Borrower otherwise agree in writing, any such application of proceeds to principal chat of extend
or ~~Ktpo'nr the due date of the monthly installments referred to in paragr:tphc 1 and 2~horeof•tir £•tiSil~~mount of
sttc'ritkcta~IMentc. , . ,r v ?+t-+11 to
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jlll. borrower Not Retraced. I?xtension of the time for pa}•ment or modification of amorNzittk~lFiiQ4F del secured
by~t~ic 11~oitgage.granted by Lender to anv successor in interest of Borrower shall not operate to release, in any manner.
the,~iabi'~y of tht' original Borrower and Borrowers successors in interest. lender shall not be required to commence
prrreedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
se~hrcd by this Mortgage b}• reason of an}• demand made h}• the original Borrower and Borrower's successors in interest.
11. Forbearance by Lender Not a Wai~•er. An}• forbearance by i.ender in exercising any right or remedy hcretrnder, 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 h}• !.ender shall not be a waiver of Lender s
right to accelerate the maturit}• of the indebtedness cc%urcd by this hiortgage.
12. Remedies Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity. and may be exercised concurrently. independently or successively.
13. Successors and Assigns 8orrnd; Joint and Several i.iabilify; Captions. The covenants and agreements herein
contained shall hind, and the rights hereunder shall inure 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 he joint and several.
The captions ant headings of the paragraphs of this Mortgage arc for convenience only and are not to be used to
interpret or define the prm•icions hereof.
14. \otice. Except for any notice rcyuired under applicable law to be given in another manner. (a) any notice to
Borrower provided for in this Mortgage shall be given by melting arch notice M' certified mail addressed to Borrower at
the Pmpem• Address or at such other address as Borross-er ma_ti designate M- notice to Lender as provided herein. and
th) am• notice to !.ender shall he given M• certified mail, return receipt requested. to I.enderc address stated herein or to
such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
tifortgage shall tx: deemed to have been given to Borrower or Lender when given in the manner designated herein. -
15. Uniform Morit;a>;e; Governing Law: Severabilih~. This form of mortgage romhines uniform rnvenantc for national
t~ce and non-uniform cuven::ntc with limited variations by jurisdiction to constitute a uniform security instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is !orated. In the
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event that any provision or clause of thi: Mortgage or the ?jute conflicts with applicable law, such conflict shall not affect
other pns•isions of this Mortgage or the Note which ran be given effect without the conflicting provision. and to this
end the pros iciuns of the flfortgatc and the Note arc declared to he severable.
16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time
of execution or after rrrordation hereof.
17. Transfer of the Propert}•: Assumption. if all or ant p:ut of the Property or an interest therein is sold or transferred
h}• Borrower without I_cnder's prior written consent. excluding la? the crcaiion of a lien or encumbrance subordinate to
this Mortgage. Ih) the creation of a purchau: money serurit~• interest for household appliances. (e) 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 tender's option. declare all the sums secured by this Mortgage to be
immediately due and payable. i-ender shall have waived such option to accelerate if. prior to the tale or transfer. Lender _
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 Mortgage shall be at such rate as Lender
shall request. if 1_ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in
interest hoc executed a written assumption agreement accepted in writing by i_ender• Lender shall release Borrower from all
obligations under this Mortgage and the Note. i
if I-ender exercises such option to accelerate. 1-ender shall mail Borrower notice of acceleration in accordance with
paragraph 14 hereof. Such notice shall provide a period of not Tess than 30 da}•s 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 such period,
lender may. Without further notice or demand on Borrower. im•oke an}~ remedies permitted by paragraph 18 hereof.
1 Note-UNIFORM CoveN~rrrs. Borrower and 1-ender further covenant and agree as follows:
~ 18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any rnoenaat or
agreement of Borrower is this'<iotrtgage, including the covenants to pay when due any sums secnred by this Mortgage, Leader
prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action
required to cure sne6 breach; (3) a date. not less than 30 days from the date the notice is mailed to Borrower, by which snob i
1 breach must be cored; and (4) that failure to cure such breach on or before the date specified is the notke gray resnk in
acceleration of the sums scented by this Mortgage. foreclosure by judicial proceeding and sak of the Property. The notice
shall further inform Borrower of the right to reinstate after acceleration and the right to assert is the foreclosure proceeding
the rao-existence of a defauh or any other defense of Borrower to acceleration and forecbsnrr. if the breach is not cured on
or before the date specified in the notice. Lender at Leu~st's option may declare a0 of the sums secured by this Mortgage to be
imtmediately due and payabk without fnrther demand Wed may foreclose this Mortgage by judicial proceeding. Leader shall I
be entitled to rnlkct is such proceeding all expenses of foreclosure, including, bnt rat Broiled to, reasonable dtorney's fees, j
and costs of documentary evidence, abstracts and tick reports. E
19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by ihts 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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