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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage inwrarrce premiums in the
manner provided under paragraph 2 hereof.
Any amounts disbursed by lender pursuant to this paragraph 7, with interest !hereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and I.rnder agree to other terms of payment, such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall:bar interest from the
date of disbursement at the rate payable from time to time nn outstanding principal under the Note unless pa'ymeat of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at tF.e higi~st rats
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or take
any action hereunder.
8. Iwspectiow. lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that Lender shall give Borrower notice prier to any such inspection specifying reasonable cause therefor related to Lender's
interest in the P:±+l+erly.
9, Cowdemwatbw. The proceeds of any award or claim for damages, direct or consequential, in contraction with any
condemnation or other taking of the Properly, or pan thereof, or for conveyance in lieu of condemnation. ate hereby assigned
and shall be paid to Lender.
In the event of a total taking of the Properly. the proceeeds shall be applied to the sums secured by this Mortgage.
with the excess, it 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 secun:d by this Morlgage such proportion of the proceeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of
taking bears to the fair market value 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 offers to make
an award nr settle a claim for damages, Bormwer fails to respond to Lender within 30 days abet 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 by this Mortgage.
Unless Lender and Borrower otherwise agree in writ~ne. any such application of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 henwf or change the amount of
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amorlization of the wms secured
by this Mortgage granted by i.ender to any successor in interest of Borrower shall not ope?ate to release, in any manner,
the liability of the original Borrower and Borrower's successors in interest. i.ender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify atnorlization of ~ sums
sect.red by this Mortgage by reason of any demand made by the original Borrower and Borrower's successor in interest.
ll. Forbearance br Lender NM a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
o~herwise 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 by Lender shall not be a waiver of Lender's
right to accekratc the maturity of the indehtcdness secured by this Morlgage.
1~. Retrredks Comnh>tire. All remedies provided in this Mortgage are distinct and cumulative to any other right or
remedy urxkr this Morllwge or afforded by law or equity, and may he exercised concurnently. independently or strecessivefy.
13. Sarecessors and Assigns Found; Joint ewd Sercral Liability; Captbas. The covenants and agreements herein
contained sties!! bi~~d, 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 1ltortgage are for convenience only and are not to be used to
interpret 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 Properly Address or at such other address as Borrower mav_ designate by notice to i_ender as provided herein, and
(b) any notice to Lender shall be given by certified mail. return receipt requested. to Lender's address stated herein or to
such other address as Lender may designate by notice to Borrower as provided heron. Any notice provided for in this
Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
1S. Uniform Mortgage; Corernirrg Law; Sevenbility. This form of mortgage combines uniform rnvenents for national
use and non-uniform covenants 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 located. In the
event that any provision or clause of thic'Mortgage or the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Morlgage or the Note which can be given effect without the conflicting provision, and to this
i end the provisions of the Mortgage and the Note are declared to be severable.
16. Ilbrrower's Copy. Borrower shall be furnished a conformed cope of the Note and of this Mortgage at the titre
of execution or after recordation hereof.
17. ,Treader of the PropMy; Assumption. If all or any pan of the Properly or an interest therein is sold or transferred
by Borrower without Lender's prior written consem. excluding fat the creation of a lien or encumbrance wbordinate to
this Mortgage, (b) the creation of a purch~ce mone}• Security 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 yeah 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 payable. Lender shall have s:a~ved such option to accelerate if, prior to the sale or transfer, Lender
and the person to whom the Property is to be colt 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 Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor in
interest has executed a written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all
obligations under this Morlgage 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 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 18 hetecrt.
Norr-UNIFOaM CovEtvarrrs. Borrower and Lender further covenant and egret as fellows:
18. Accelcnttbw; Rewedia. Except as provhicd is paragraph 17 hsreof. trpw Ilorrswer's brsaeb d ear corewsN K
agresttaest d Iorrower iw fhb Mortgage. Iwelwdiag the corewents to pr when doe sax ware secwed br ebb Morlgage. [.ender
prbr to eccdcrstbn shah wuN aotke to Borrower w prorWcd fn paragraph 14 hereof s*ccifrlsg: (1) the bnesch; (2) the sctbw
r+egsked tau ewe tttsch btr+eaeb; (3) s Gate. woe less than 30 days from the date the wotke b wuRtd fo Borrower. br whkb sock
breach mwrtt be ewsd; sad (4) that hilsrs to cwrc wch breseb ow or helot: ere date speeYed M the ttwtiee t.er reswN f.
sceeletratbw d the ts•sss secsred br fhb MortBaRe. tortcloswrs by jsdkial procsednwg awd sale d the Tropcrtr. The wstfiee
shag fwrther iwtorrw Don+ower d the right to rsiastate after sccekratba errd the fright to exert b the tasebwre'roeseisg
the ttww-a:btewee d s dstask or awr other dcfewse of Eorrower fo sccckrstiow awd toreclowre. H the breach M woe ewes as
or before the date s'ecfRed is the wotice. Lender et I.ewder's optiow wur deebQe V d lire wms setwrsd b7' fhb MorfgsKe b be
irwwredhteir dwe atsd prsbk wHbwl fwrther demand and may foreclose fhb Morlgage h' jrrdkW'roetediwR. Lender drag
be etsdtkd to colkd V web rroeeediwg a!t expenses of forccbswro. iwclw~e8. bwt woe Willed M. rsaaowsbls tNtxneYs fess.
a¦d coats d docu!oewta~? srideaee. abstrsces awd tick repro.
19. lsorrowa's Rfgbt to ReiwNats. Notwithstanding Lenders acceleration of the sums secured by the Morlgage,
Borrower shall have the right to have any proceedings begun by !.ender to enforce this Mortgage discontinued at any time
~o~x 3~1 P~~E ~06~