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Lender's written agreement pr applicable law. Borrower shall pay the amount of all mortgage insurance ptteniurr?s in the $
manner provided under paragraph 2 hereof.. ;
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional
indebtedness of BorroWCr sCCUttd 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 bear interest ftx>trt the
date of disbursement at the rate payable from time to time on outstanding principal under the Note tmkss pa~rtnettt of #
interest at such rate would be contrary to applicable law, in which evens such amounts shall bear interest at the: highest rata
permissible under applicable taw. Nothing contained in this paragraph 7 s¢gl~re4uirc Lender to incur any expense: or fate '
any action hereunder.
Irapeetbw. Lender may a or cause to be made rcaconabk entries upon and inspections of the Property. provided
that Lender shall give )$orrow~~e prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property. -
9. Coedemwafbw. The proceeds of any award or claim for damages, direct or consequential, in connection writh 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 Properly. the proceeds 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 pt+ooeeds
as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date o[
iel~iu~ 1>ra~s iu the fair market vaitre of the Property immeaiatety poor to the date of taking, with the Oaiance of the ptocetxis
paid to Borrower.
If the Property is abandoned by Borrower. or if. after notice by i.ender to Borrower that the condemnor offers to mate
an award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice is
mailed, Lender is authorized to collect and apply the proceeds, at Lender i option, either to resooration or repair o[ the
Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shag not eacteaed
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 Nof Reka~sed. Extension of the time for payment or modification of amortization of the sums stxurod
by this Mortgage granted by Tender to any successor in interest of Borrower shall not operate to release, in any manner,
the liability of the original Borrower and Borrower's 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 sums
secured by this Mortgage by reason ofrny demand made by the orit!inal Borrower and Borrower's successors in interest.
l 1. Forbearance by Lender Nof a Waiver. Any forheararice by lender 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 taxes 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. Remedies Cawolatirre. 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. Soccewors awd Arsigws >doeend; .Joint aad Several T.iabr'rry; t'aptbas. The covenants and agreements herein
contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender apd 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 arc for convenience only and art not to lk used to '
interpret or define the provisions hereof.
14. Notice. 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 certitkd mail addressed to lorrower at
the Property Address or at such other address as Borrower may designate by notice to Tender 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
Mortgage shall he deemed to have been given to Borrower or Lender when given in the manner designated herein.
~ 1S. Utiform Mortgage; Goverai~ Law; Severability. This form of mortgage combines uniform covenants for national
use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform sxurity instrument covering
real property. This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. Tn the
event that any provision or clause of this Mortgage or the Note conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage or the Note which can be given e(fec; without the conflicting provision, and to this
r ~ end the provisions of the Mortgage and the Note are Declared to be severable.
16. ldormwee'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. ,Treader of ere Property: Assawptiow. Tf all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior written consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage. (b) the creation 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 Id) the grant of any leasehold intett:t 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?•aived such option to accelerate if, prior to the sale 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 rcgtrest. Tf 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
obljptions under this Mortgage and the Note.
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of accekntion in acrnrdanc~ 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 faits 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 18 hereof.
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i Noty-UNIFOaM COVENANTS. Borrower and Lender further covenant and agree as fdlarvs:
Ig. Acederatloo; Rewedkr. Except ss provided iw pangrspr 17 rered. opoa >iorrowetrs breaele d awr covetawt or
agrectoest d >sorrower b iris Mortgage rt+ela~wg ere cot+eaaats to pr wrew doe aser saws st~wte! br iris Morigags. >i.eo~er
prbr to aecekratbo stet wraA notice to >dorrower as provfded Iw pantgraple 14 terror specltriwgz (1) Ire bract: (2) ere actiow
E r+cgdred b etrre steer bt~eaer; (3) a ertle. woe less fraw 30 days trorw ere date ere notice b ttsailetl b Isanswer. br wrkr stet
bract woet be eased; asel (4) tree faWrrt b care serer btreacr uee or retore ere date specYei tw ere oMiee war restrk V
y aKCekratioo d ere revs secured br tlris Mortgage. fore:closon br jwdkW proesedMg atatl sale d trs Property. Tre toofke
3 star fortrer iwtotrro 1orrower d ere right b reitastste after accelcratioa swd ere rigrf b avert r ere toreckwre proceeitg
ere taco-a:idewce d a iefsuk or ear otter defense of Borrower to aecelcrNiow artd toreclowre. It ere ereaer r aloe eared on
or before fre date speeiied i• ere wofke. Lewder at I.ewders optfow way dtrtanc ar d ere wrws sexwrsd ~ fris MorlgaRe b be
iwasediatelr doe steel prabk witroof tortrer demand awd wear tweclose trls Marissge y }dkW praesedlwR. Lender stall
be ewtltled to eoBroct V wet proceeding alt t:pctr?ses of forrciosore. bclodiwg. here vat BstJecr b. rewnMe stturaeYs tea.
' asd rests d doce.-~sewtarr evidewcs, abstrscts awes title reports.
19. iorrowa's Rr<rt b Reisstafe. Notwithstanding Lenders sccekration of the sums secured by thtt 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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