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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums rn the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to thi paragraph 7, with interest tltetebw( Shall become additional
indebtedness of borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment. such
amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payahk from time to time on a~tstanding principal under the Note unless pajrrrtent of
interest at such rate would be contrary to applicable law, in which event such amounts shall bear interat at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any ezperae or fate
any action hereunder.
a. Iwspecfiow. I-ender may make ar 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 cause therefor related to Lender's
interest in the Property.
9. Cosdewaatbw. The proceeds of any award or claim for damages. direct or consequential, in connection with any
condemnation or other taking of the Property, or part 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 the Property, the proceeds shall be 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, unlKC Anrmwer and Lender
otherwise agree in writing. there shall be applied to the sums sectrrrd by this Mortgage such proportion of the proceeds
as is equal to that proportion which the amount of the some secured by this Mortgage immediately prior to the date of
tiw:$a v~wia i8 t
F fiir i~iirwct .aloe of ii~c Pivprriy immeciiateiy prior io the uaie of raising, with ne Daianw of tIIC piui:~aiS
paid to Borrower.
If the Ptoperty~fs abandoned by Borrower, or if. after notice by i_ender to Borrower that the con- demnor oRen to make
.n award or settle a claim far damages, Borrower fails to respond to lender within 30 days after the date such notice is
mailed, Lender is authorized to called and apply the proceeds. at lender
s option, either to ratoration or repair of the
Property or ta'the sums secured by this Martgagt. ,
Unless Lender and Borrower otherwise agree in writing. any such applicatian of proceeds to principal shall not extend
or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
such installments.
10. Borrower Not Released. Extension of the time for payment or modification of amortizatron of the sums secured
by this Mortgage granted by [.ender to any cuccecsor in interest of Borrower shall not operate to release, in any manner,
the- liability of the original Borrower and Borrower's successarc 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 sums
secured by this Mortgage. by reason of aay demand made by the original Borrower and Borrowers weaYSSOrs in interest.
11. Rorhearaace by Lender Not a Wsiver. Any forbearance by Lender in exercising any right or remedy herctnrder, 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 by Lender shall not be a waiver of Lender's
right to accelerate the maturity of the indebtedness securrd by this Mortgage.
12. Remedies Crwah>ti~e. All remedies provided in this Mortgage arc distinct and cumulative to any other right or
remedy under this Mortgage or afforded by law ar equity, and may be exercised concurrently, independently or successively.
' 13. Srecesaors swd AssiRws Isotrnd; Joint awd Saved f.iabiiNy; Captions. 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 joir~ and several.
'Ilre captions and headings of the paragrrphc of this Mortgage arc for convenience only and are not to l)e 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 Martga¢e shall be given by mailing such notice by certifkd mail addressed to Borrower at
the Property Address or at .such other address as Borrower may designate by notice to fender as provided herein, and
` (b) any notice to Lender shall he 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 herein. Any notice provided for in this
ivfortgage shaii be deemed to have been given to lorrower or lender when given in tyre manner designated herein.
15. Uwiforw MoAgaRe; Goverwiwg Law; Sererability. This form of mortgage combines uniform covenants 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. 1n the
~ event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
j 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 Note are ~kclared 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. ,Trassfer of the Property: Asstrwptiow. If all or any part of the Property or an interat 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 creatian of a purchase money 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 intertst of three years 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?•rived such option to accelerate if, prior to the sale or transfer. Lender
~ and the person to whom the Property is to be said ar transferred reach agreement in writing that the credit of each person
~ ~ is satisfactory to Lender and that the interrst 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 $orrower's successor in
I 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
3 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 expiration of such period.
Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 1R hereof.
Norr-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
3 li. Aeetkratbw; Rewedfa. Except r provided iw paragraph 17 hared. upon iorrowa's Meath d awy eoreaaN or
a~rtewsewt d ierrower b this Mortgage. rrg tie corewsats to py whew dae asy sows aeeored dy fiit Mortgage. Lewder
prbr b atcderatiow stuff wsaN wotke to •orrower ss prorNed h pragnrpi 14 hereof speeYyis>t: (1) tie M+eaci: (2) tie sctiow
rgita b awe stet Mrtaci; (3) a date, wet fRas thaw 30 days trorw the date the wotiee fa saatled b >torr~ower. by whfici ssxi
bs~eaelr wwt M cored; swi (4) that f`aNrrt b can such Mesci ow or Mtost the date speclfitd b the wotiee way resale b
aceefierMbw of tie sows secwed by this Mortgage. toreclosrre b jrdkW proeeedlw~ awd sale of the hoperty. 7Ue watiee
s slwr farther iwforw Eorrrwer d tie rfRM b rtiasfate after aecekrNiow awd tie right b atscrt b tie toreeloarre *roueedlrrg
tie wtt~resistewet d a defaak or awy otter defetsse of Borrower to accekratbw awd toretlooore. N tie Mtaei r wet etned ow
or bdore the dsN specYed V tie wofice. Lewder at i.ewder's optitrw wray deelwe s/ d tie sarws seeared b'!' tits MertgaRt b be
~ iwwediafely dre awd payahk witioat irrther demand aad way foreclose tits Mortsate h' jtrdicW proeetdittg. Lende? shah
be ewffded b tolltet t• arch protetJirrg s/ expea~ses of foreclosrre. hrchrdiwg. bat wet Wwited b. rtasewaMe s+ttxaeYs fees.
~ atsi oosb d does.'~ewtarr eridewee, abstract awd title rcporb.
19. lortowa's R4ht to Reiwstatt. NatwithsundinE Lenders scceleration d 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
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