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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance ptemiutas in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph with interest thereon, shall become additional
indebtedness of Borrower seared by this Mortgage. Unless Borrower and Lender ag~q ptyer'terms of payment, such
amounts shall be payable upon notice from Lender to Borrower requesting payment t~rttd shall haze interest front the
date of disbursement. at the rate payable from time to time on outstanding principal under the Notes unless payment of ~
interest at such rate would be contrary to applicable law, in which event Bitch amounts shall bear interest at the highest tale
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any e><perae or take
any action hereunder. -
fl. lrta#eelilow. Lender 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 specifying reasonable cave therefor related to Lenders
interest in the Property.
9. Corlewwtiow, The proceeds of any award or claim for damages, direct or consequential, in conrieetioa with say ~ _
condemnation or other taking of the Property, or part thetrof, or for conveyance in lieu of condemnation. are hereby aasegaed '
and shall be paid to Lender. _ ~ !
In the event of a totil taking of the Property. the proceeds shall be applied to ilia 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 propartiori of the proceeds ff
• as a equal to that proportion which the amaint of the sums secured by this Mortgage immediately prior to the dais o[ -
taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the prooeedt
paid to Borrower. "
If the Property is abandoned by Bor:cover. or if. after notice by Lender to Borrower that the condemnor oRets to make
an award or settle a -claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice b
mailed, ,L•
ender is authorized to collect and apply the proceeds, at Lender's option. either to restoration or repair of tDa
Property or to the. sums secured by this Mortgage.
Unless Leader and Borrower otherwise agree in writing. any such application of proceeds to principal shall rat etclead
or.pastpoae the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such insta~lmcnts. -
10. Borrower Not Released. Extension of the time for payment or modifkation of amortization of the sums secured
by this'Mortgage granted by Lender to any succasst~r in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrowers successors in interest. Lender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the uimt
secured by this Mortgage by reason of any demand made by the original Borrower and Borrower's successors in interest.
11. For6earawce 6y Lender Not a Walver. Any forbearance' by Lender in exercising any right or remedy her+autder. or
otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy.
The proctircrnent of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Larder's
right to accelerate the maturity of the indebtedness secured by this Mortgage. i
12. Resedics Cewrhlhe. All remedies provided ~n 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 stieoessively.
13. Srccesaon swl Assigns Bound; Joist and Streral i.iabi8ly; Captions: The covenant: and agreements herein ,
contained shall bind, and the rights hereunder shall inure to. tbe respective successors and assigns of Lender sad Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joir~ and several.
The captions' and headings of the paragraphs of this Mortgage are for convenitrtce only and are not to Mused to
interpret or define the provisions hereof. _
14. Notice. Except for any notice rcgr~ired under applicable law to be given in another manner, (a) any notice to
Borrower provided for in this Morttta¢e shall be given by mailing such notice by certiflod mail addressed to Bormvver at
the Property Address or at such whey address as Bormwer may designate by norice to i~nder as provided hercin< and
(b) any notice to Lender shall be given by certified mail. return receipt requested. to Lenders address. stated herein or to
'i such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
Mortgage shall be detmed to have been given to Borrower or Lender when given in the manner designated hixeirt.
1S. Udfornr Mortgage; Go~erninR Law; Severabpity. This form of mortgage combing uniform covenants for national
' use and non-uniform covenants with limited variations by jurisdiction to constitute a unifot~ri security instrument covering
real property. This Mortgage shall be governed .hy the .law of the jurisdiction in which the Property is located. In the
event that any provision or clause of thic Mortgage or the Note conflicts with applicable law. such conflict shag not-affat
other provisions of this Mortgage ar the Note which can be given effect without the oonAicting provision. and to this
end the provisions of the Mortgage and the Nate are declared to be severable.
lf. Borrower's Cody. Borrower shall be furnished a conformed copy of the Note aed of this Mortgage at the time
of execution or after recordation hereof.
17..Trassfer of ere Property: Asanmptiow. if all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (a) the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the crcatron of a purchase money security interest for household appliances, (c) a tnrafer I+y devise.
descent or by operation of law upon the death of a joint tenant or (d) the grant of any IeaselroW interest of three years or less
not containing an option to purchase. Lender may, at Lender
s option, declare all the sums sauced by the Mortgage to be 3
immediately due and payable. Lender shall have waived such option to accelerate if. prior to the Bak or transfer. Lender
and the person to whom the Property is to be cold 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 ac Lender
shall request. if Lender has waived the option to accelerate provided in this paragraph 17.-and if Borr+airers successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
obljgations under this Mortgage and the Nwe.
If bender exercises such option to accelerate. Lender shall mail Borrower notice of accelerat'an in accordanc-c v?•iih
puasraph 14 hereof. Such novice shall provide a period of not less than 30 days from the daa the ratite is mailed within
which Borrower may pay the sums declared due. If Borrower fails to pay such arms prior to the expiration of such period. }
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph l g hereof.
Note-UNIt'ORM Coverraxrs. Borrower and Lender further covenant and agree as follows:
lit. Aecdeaatiorq Rernelfa. Escept ss provNed is paragrapr 17 rereoft~ tspn Berr~rwers iaeaer eft atsy eo~eaarrt ar
agreed of Borrawer is tWs Morfgatgc, 6sela~ag ere ewenaats to psy where lre aryr srr aserrei ti t1,fa Martpgt. [.ender
prior to aeedeaatlaw siW nW entice to Bontrwer as prodded iw paragraph 14 tercet sr~iagr (l) Ire rseaer; fY) the adNn
rerAieei Is erne over raeae~ (3) a tilaar, wet rna thaw 3f1 dqs trorw ere late ere ndiee Y Wed M Baanwer. y wttitr acct
rteaer rower k tweet; awl (4) flat ftilrre to true acct ttseaer on or be[ore titre late speeifiai V ere wotiee say trisaif i•
• seakraAaw o[ t4 srrmt aeerrel ry this Mortgage, toaecioasre b ! awl sale aft trs hoperty. 'tire natke .
art frrfrer irrdors Boarawer o[ Ire right to rttiw:fate after seeeteratbn awl ere rlglil fo aaaM <A ere foreelearre pr~steeiag
ere wow-eiWewce of a ietaak or arry_otlrer detewse o1 Borrower to accekratba swi for~eelowwe. N' Ire heearr iia wort estei M
or 6etorrt ire late speeifiai r ere antler. Lewder at I.ewler's opiow arty declare ar o< Ire tiara aaetrrel r! Aria-MaAialpe fla k I
irnaseiiately ire awl payaYe wilrorf father demand awd aisr toreeloae tries Mortgage r7' }iietial /nteeiR. Lewder strati
k eWAel M cored V ataer'rrceedi~g ai espewses s,f forecbsrre. fnclrliag. brit ant >rital Mr aewnaMe stlwaeyla fees.
ant eats eft iaauwerlarl? et?filenee, a`atraeb awl title reporla.
1!. tiaaowa'a tlligrt a RRiastate. Notwithstanding Lender's acceleration of the strews sectued 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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