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Lender's written agreement or applicable IaW. Borrower shall pay the amount of all mortgage insurance premiums to the
manner provided under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7 vKtth ~1eSest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrovrer~aod Lenddrtagree to other terms of payment, such
amounts shall be payable upon n~~tice from Ixnder to &~rrower requesting payment thereof, and shall bear interest ft+om the .
date of disbursement at the rate payable from time to time an outstanding principal under the Note unless payment of
interest at such rate would be cantrarv to applicable law, in which event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained .n this paragraph 7 shall require i_ender to incur any expense or fate
any action hereunder.
s, Iwspeetiow. Lender may make or cause to he made reacortabk 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'a
interest in the Property.
9, Cotademnation, The proceeds of any award or claim for damages. direct or consequential, in connection with any
condemnation ar other taking of the Property, ar part thereof, ar for conveyance in lieu of condemnation, are hereby assigned
and shall be paid to fender.
In the event of a total taking of the Property. the prtxeeds 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, unless Borrower and Lender
otherwise agree in writing. them shall be applied to the sums secured by this Mortgage such proportion of the pr~octeds
as is equal to that proportion v?•hich the amo~rnt of tt+e 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 Bor:ower. or if. after notice by Lender to Borrower that the condemnor offers to make
en award or settle a claim for damages. Borrower fail. to respond to Lender within 30 days after the date such notice is
mailed. Lender is authorized to collect and apply the proceeds. at Tender's option, either to restoration or repair of the
Property or to the sums soured by this Mortgage. -
Unltss lender and Borrower otherwise agree in writin~e. 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 hereof or change the amount of -
such installments.
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 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 refute to extend time far payment or otherwise modify amortization of the sums
secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
l 1. Forbearance by [.ender Not a Waiver. Any forbearance 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 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.
l2- Remedies Cumulati•t. 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. Saecessors and Assiglws Bound: Joint and Sererai I.iabt7ity; Capibws. 'i?te covenants and agreements herein
c:,.-.:a:.-..~...,
~L^Ir t!;r ~:~1,.e Iu..w~n.irr eh~ll in11r~ In the respective successors and assigns of Lender attd Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be fairy 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 far any notice required under applicable law to be given in another manner, (a) any natict to
Borrower provided for in this Mortgate shall be given by mailing such notice by certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Lendtr as provided herein. and
(b) any notice to Lender shalt he given by certified mail. return receipt requested. to Lender's address stated herein or to
such other address as Lendtr may designate by notice to Borrower as provided herein. 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.
l5. Uniform Mortgage: Go•ernirrg Law: Severobility. 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. In 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 Nate which can be given effect without the conflicting provision, and to this
end the provisions of the Mortgage and the Note are declared to be severable.
16. dotrower's Copy. Borrower shall be furnished a conformed cop}' of the Note and of this Mortgage at the tune
of execution or after recordation hereof.
17. ,Transfer of the Property: Assumption. Tf all or any part of the Property or an interest therein is sold or transferred
by Borrower without Lender's prior writrcn consent. excluding (al the creation of a lien or encumbrance subordinate to
this Mortgage, (b) the creat~an of a purchase money security interest far household appliances, (e) a transfer by devise,
descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intenat of three years or less
not containing an option to purchase, Lender may. at Lenders option, declare all the sums secured by this Mortgage to be
immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is to be sold ar 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 Borrower's successor in
interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all
obljJrations 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 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 lg hereof.
Note-IJNrFORM CovENATITS. Borrower and Lender further covenant and agree as follows:
1>f. Accekratbw; Remedies. Except r provided is pragrapr 17 terse/. trpow tiorr+ower's brtacr of awy eo•etrawt er
agreeaeeat of Eorrower la tltia Morrtgage. isclading the co•enams to pay whew dae say swwta securd br iris Mortgage. [.ender
prrior to aceekrattoa sraN mail aotlce to >donower as pro•ided iw paragraph 14 hereof specltyiag: (t) tee bteaer: (2) ere setiow
required to cwre stet tease; f3) a date. wet lest trap 30 days twra the date ere wotke V etaa8d to tiorrovrer. by wrk6 swcr
beach mtut be tired: awd (1) that fail>sre to cure such breach oa or bctore ere date gtcMtd i• the wotke fanny resale b
accderatiow of ere ttwas secured by iris Mortgage. fortclosare by judkW proeeedirrs and Hate of ere troperty. Trc wotke
sratl trrrtrer intoro Borrower of ere riRrl to reiwstate after sccrkratbw swd ere right to sarert b ere toreelosaro rroeeeit6
ere wow-txistewce d a detaalt or racy otter dclewse of aorrower to acctkrMba and toretloarr. It ere teener it wet eared on
or before the date speeiid b ere woiice. Lewder at Lender's opting racy declare V o[ ere same seetered try tlds MotrtgsRe N be
irwmediateiy dye artd paysbk witrotq tarlbcr demand and may foreclose trb Mortgage by jwdkW'raeeedlaK. i-ender shall
be eattNUed to collect iw serer proeeediwg d expenses of foreclosan. iwclwdiwg, bet wet Wand to, reasoaark trn•,rner's fees,
stall cos4 0[ doct:~eahtry trideaee. abstracts and title report.
l9. Dorrowa's Rltrt to Reiwatate. Nalwithstanding Lenders acceleration of the sums secured by th~~ Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this1fM~ortgage discontinuped at any tune
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