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Lender's written agreement or applicable law. Borrower shalt pay the amount of all mortgage insurance premiurtu in the
manner provided under paragraph 2 hcreot.
Any amounts disbursed by Lender pursuant to this paragraph 7, wuh interest thereon, stjall become additional
indebtedness of Borrower secured by Ibis Mortgage. Unless Borrower and Lender agree to b~ terms of payment. such
amounts shall be payable upon notice from Lender to &rrrower rey?xsting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under the Nole tmkss pa'S?rnatt 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 contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
g. 1¦spectiow. Lender may make or cause to be made reasonable entries upon and inspections of.the Property. provided
that Lender shall give Borrower noticr prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Properly.
9. Cowdew¦afbw. The proceeds of any award or claim for damages, direct or consequential, in connection with any
condemnation or other taking of the Properly, or parl thereof, or for conveyance in lieu of condemnation, arc hereby assignod
and shall be paid to Lender.
In the event of a total taking of the Pmperty, the proceeds shall be applied to the sums secured by this Mortgage,
with the excess, if arty. paid to Borrower. In the event of a partial taking of the Properly, ?tnless Borrower and Lender
otherwise agree in writing. there shall be applied to the wmc secured by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the some sec~ired by this Mortgage immediately prior to the date of
taking bean to the fair market val?x of the Property immediately prior to the date of taking, with the balance of the proceeds
paid to Borrower.
if the Property is abandoned by Borrower. or if after notice by Lender to Borrower that the condemnor often to matte
an award or settle a claim for damages. Borrower fail. to restx~nd to Lender within 30 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or rspair of the
Property or to the sums secured by this Mortgage.
ilntess ;ender and Borrower otherwise agree in writrne. any such application of proceeds to principal shall not extend
or postpone the due date of the monthls• installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Nof Released. Extension of the time far payment or modification of amortization of the sums secured
by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to reksse, in any manner,
the liability of the original Borrower and &~rrowcr's successors in interest. i_ender shall not be required to commence
proceedings against such successor or refusr to extend time for payment or otherwise modify amorlization of the sums
secured by this Mortgage by reason of :any demand made by the original Borrower and Borrower's successors in interest.
11. Forbearance by Lender Not a Waiver. Any forbearance by !-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 tares 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. Renredks C¦mulathe. 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. S¦cccwrs and Asigas Bound; ..loint sad Several l.iabilitr; Captbws. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender sad 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 paragr~phc of this Mortgage are for convenience only and are not to Ile used to
interpret or define the provisions hereof.
14. NMke. 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 mailing such notice by certifikd mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by noticr to Tender as provided herein, and
(b) any notice to Lender shalt be given by certified mail. return receipt requested. to Lender's address stated herein or to
such other address as [.ender may designate by notice tc. Bormwer as .provided herein. Any notice provided for in this
Mortgage shall be deemed to have been given to.Bormwer or l_cndcr when given in the manner designated herein.
15. Uniform Mortgage; GoverainR Law; Severability. This form of morlgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a urtifotm security instrument covering
real properly. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the
event that any provision or clause of this Mortgage or the Note conflicts with applicabk 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 dote are declared to be severable.
16. Eorrower's Copy. Borrower shall be furnished a conformed cop}' of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17..Traad~r of the Property; Assumption. If all or any pan of the Properly or an interest therein is sold or transferred
by Borrower without Lender's prior wrincn consent. excluding !al the creation of a lien or encumbrance subordinate to
this Morlgage, (b) the creation of a purchase m~•ney security mtcrest for household liances, (c) •a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (dl the grant of any It~hold interest of three years or kss
not containing an option to purchase, Lender may, at Lender's option, declare all the sutras secured by this Mortgage to be
immediately due and payable. Lender shall have waved such option to accelerate if, prior' to the sak or transfer. Lender
j 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 Morlgage shall be at such rate ac Lender
shall request. If Lender has waived the option 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, Lender shall mail Borrower 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 declared due. If Borlower 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 Ig hereof.
Noiv-UNIFORM COVEtJANTS. Borrower and Lender further covenant and agree as follows:
18. Accderatloa; Rearedla. )Except as provided i¦ paragnpb 17 hereof. ¦poe >sonrtwer'a breach of twy covernwt or
agreeme¦t of >sorrower In this Mortgage, including the co.erunrs to pr wbe¦ dtse ssy wwta sec¦rted br this Morlgage. I.e¦der
prior M rrccder:tb¦ shop mail rwtke to Borrower a provided la par•agrapb 14 hereof speeYy~: (1) Ibe 6r~e¦eb; (2) the trefiow
trr:gmired to setae web brracb;l3) ¦ date, woe kss than 30 days tram the date the ¦otke r twaped to lorrower, by wbkb streb
breach verse be cored; asd (1) that failrtre to cure s¦cb brescb rirr or before the date s'ecified b the .Mice war ratrb 4
weedertrtio¦ of the wws srcturd br tbLs Mortgage. forraiowre br judkial pwceedi¦8 exert sak of the Tropcrtr. The ¦dke
tthaq f¦riber i¦forw Ibrrower of the right to reiwstate after sKCekntb¦ and tie right fo srsert f¦ the toreelos¦re ~troceei¦g
the ¦o¦-exWewce of a~dcfa¦It or a¦r Mber dcferase of Eorrower to accekratbw awd fortciowre. K fire brrxb M teat e¦rtd a¦
or before the dale spcified h the ¦Mke. Lewder at Lender's optb¦ mar declare a/ of the wr see¦rsd br flds Mort~e is be
iwwcdiatelr d¦e trrri prtrble witbo¦t t¦rtlrcr demand and mar tor:cbse tb4 Mortgage br J¦dkW'roeeedi¦R. Lender slop
~ br: etstidtd to coptct Iw wcb'r+oceedirrg ss a:penses of torecbs¦re, hrcindi¦g; b¦t teat ptwiled b, reaso¦able trnorsev's tea,
n¦d costs of dvt:r:~¦ershrr trideoce, sbstr¦cts turd tick reports.
19. fliorrowa's Rfgbt to Rei¦state. Notwithstanding lenders acceleration of the sums secured by this Mortgage, .
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time