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Lender's written agreement or applicable law. Burrower shall pay the amoughoj all• r+nprtgagt insurance prcmiutns in flit:
manner provided under paragraph 2 hereof. ~ -
Any amounts disbursed by Lencirr pursuant to this paragraph 7, with interest thereon, shall become additional
indehtednes: of Borrower secured by this Mortgage. lJnlec+ Borrower and Lender agree to other terms of payment, such
amounts shall be payahle upon notice en?m Lender to Borrower regtrecting payment thereof, and shall bear interest ft+om the
date of disbursement at the rate payahle Pram tine to time an outstanding principal under the Note unless payrrsettt of
interest at such rate would he contrary 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. laspection. Lender may make or roost to he made rra+anahle entries upon and inspections of the Property, provided
that Lender shall give &?rrower naUrr prior to any arch inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9. Cotadernnafion. The prcxeedc of any award or claim for damages. direci ur conseyuentiai, in rnnnection with any
condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of cardemnation, arc hereby assigned
• and shall be paid to !.ender.
In the event of a total taking of the Property. the pmrreds shall he 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 amutu?t of the sums scct~red by this Mortgage immediately prior to the date of
taking bears to the fair market value of the Pn?prrty immediately pricer to the date of taking, with the balance of the proceeds
paid to Borrower.
If the Property is ahandoned by Bar.nwer. ar if after notice by l ender h~ Borrower that the condemnor offers to mate
an award or fettle a claim for damages. Rormwer fail. to respond to Lender within 30 days alter the date such 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 M• this Mortgage.
Unless fender and Borrower otherwise agree in w rittne, any such application of proceeds to principal shall not extend
or pstpane the due date of the monlhl+ installments referred to in paragraphs 1 and 2 hereof or change the atttount of
~h i:sslallments.
10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
by this Mortgage granted by lender to arn• +uccc+wr in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Burrower'+ successarc in interest. 1 ender shall not he required to commence
proceedings against such successor or refuse to extend time (ar payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of an}• demand made b} the orieina) Borro~•er and Borrowers successors in interact.
I1. Fotrbeart:nce 6y Lender Not a Waiver. Am• fortxarancr by Lender in exercising any right or remedy hereunder, or
otherwise afTorded 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 eases or other Liens or charges by !.ender shall not be a waiver of Lender's
right to accelerate the maturity of the indehtednes secured h}• this Mortgage
12. Remedies Comulath~e. All remedies pros•ided in this 1liortgage are distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law or equity. and ma}• tie exercised concurrently, independently or succtssivtly.
13. Successors and Assigns Bound:.,!nine and Ses•eral LiaM'lity; Captions. The covenants and agreements herein
contained shall bind, 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 be joiry and several.
The captions -and headings of the paragraphs of this Mortgage are far convenience only and arc not to be used to
interpret or define the provisions hereof.
14. Notice. 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 he gn•cn h}' mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other adder++ ac Borrower may designate by notice to i.ender as provided herein, and
(b) any notice to Lender shall he given by certified root!. return receipt requested. to 1.endePs address stated herein or to
such other address as Lender may designate M notice t.• Borrower as provided herein. Any notice provided for in this
~ Mortgage shall he deemed to ha+~c hcen green to Borrower or Lender when given in the manner designated herein.
j 1S. Uniform Mortgage: Governing Law•: Sevcrabilif}. This farm of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by junsdictian to constitute a uniform security instrument covering
real properly. This Mortgage shall be governed by the law of the jurisdiction '.n which the Property is located. In the
~ event that any provision or clauu; of this Mortgage ar the Nate conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Nate which can he given eBect without the conflicting provision, and to this
end the provisions of the Mortgage and the tthe are cleclarrd to he severable.
16. Borrower's Copy. Borrower shall he furnished a conformed cop}' of the Note and of this Mortgage at the tithe
of execution or after recordation hereof.
17. ,Trr>aster of the Property: Assumption. If all ar any part of the Property or an interest therein is sold or transferred
by Borrower without lender's pricer wrinrn consent. rxsluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (bl the creation of a purchase mc~nr+ srrurity interest for household appliances, (c) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (dl the grant of any leasehold interest of three years or less
not containing an option to purchase. I ender may, at Lender's option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have u:,wed such option to accelerate if, prior to the sale Or transfer, Lender
and the person to whom the Property is tc. !x :old ar Iransferred reach agreement in writing that the credit of such person
is satisfactory to Lender and that the interest payable an the sums secured by this Mortgage shall be at such rate ac Lender
shall request. if Lender has waived the optiau to accelerate provided in this paragraph 17, and if Borrower's 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. !.ender shall mail Borrower notice of acceleration in accordance with
paragraph l4 hereof. Such notice shall provide a period of oat 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 expiation of such period,
Lender may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 1R hereof.
Norr-Urvtt=ortrN Coverv~NTS. Borrower and Lender further covenant and agree as folbws:
18. Accekratbn; Remedies. Ettcept m provided in paragraph 17 hereof, upon Borr+owp's bash off tarry coverant or
agreement o/ Borrower b this Mortgtrgc, iwcluditsg the covenants !o pay when due soy. sates stcnrci by this Mortgage. !.ender
prior to accderatloa sbdl mail notke to Borrower as provided In paragraph 14 hereof' speciftylegs (1) the beach; (2/ the atet{on
x rc9u~ to cruse larch beach; (3) • date, not less than 30 days (rota the date fix rootlet k staafJcd to Borrower. b!' whkh such
beach most be cured; and (4) that tailarc to curt such breach oa or before the date. r>/ecYed b the ootke may result b
acederat{ow oft the sottns secured by this MorlgatRc. toacclosure by jnd{clal proceeding asrd sale of the Property. The notke
shall fsarthtr inform Borrower o[ the right to reinstate after atccekratbn acrd the right to assert h the foreclosure pocetdisg
the taoa-c:isfcnce of a detaalt or any other defense of Borrower to accekratba and forecbwre. H the brxh h uof esrd on
f°
or bdore the date specified in the notice. Lender at Lender's option ntay decWe a9 of the sums sttenreti hT fhb Mortgage b
immediately due tine! payable without further demand and may foreclose flits Mortgage by jrrdkW proeeediag. Lender shah
be esrdtled to collect b snch proceeding all aaperrses of foreclosure, lacludisg, but not Wwifd t0, rsssonabk stt.,rnetr's frees.
~ and costs of docr:!nesttary evidence. abstracts and title reports.
19. Borrower's Rfgbt to Reinstate. Notwithstanding tender's acceleration of the sums secured by this Mortgage,
Borrower shall have the right to have any proceedtngs hegun by Lender to enforce this Mortgage discontinued at any tithe
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