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Lender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums to the
Manner providcJ under paragraph 2 hereof.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest then, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agroe t0 dher terms of payment, such
amounts shall be payable upon n?~tice from I.endcr to Borrower requesting payment thereof, and shall bear interest from the
date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of
interest at such rate would be contrary fo applicable law, in which event such amounts shall hear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require lender to incur any experae or take
any action hereunder.
Issptetioa. Lender may make or 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 Properly.
9, Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any
condemnation or other taking of the Properly, 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 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. there shall bt applied to the sums sec?tred by this Morlgage such proportion of the proceeds
as is equal to that proporlion which the amount of the sums secured by this Morlgage immediately prior to the date of
taking bears to tbe.fair market value of tl?e 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 make
an 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 Lender's option, either to restoration or repair of the
Properly or to the sums secured by this Mortgage.
Unless lender and Borrower otherwise agree in writing. anv 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 Nol Released. Extension of the time for payment or modification of amortization of the sums secured
by this Morlgage 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. 1_ender shall not be required to commence
proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sr?ms
secured by this Morlgage by reason of any demand made by the original Borrower and Borrowers successors in interest.
11. Forbearance by I.cnder Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
otherwise afforded by applicable law. shall not he 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. Remedies Cnmulati~e. 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. SaKCessors and AssiRes Found; Joint and Several l.iab'lltr; Captions. The covenants and agreements herein
.,_a ~~...u ~,:.,a ..a ?,~.~...,.t~~ ..?,~m : ~ ?r.' .,.~....•e:.... a~.rr~ccnre o.ul accionc of T enckr and Borrower.
subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be join] and several.
The captions and headings of the paragraphs of this Morlgage are for convenience only and art not to be used to
interpret or define the provisions hereof.
id. 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 certified mail addressed to Borrower at
the Properly Address or at such other address as Borrower may 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 Lenders address stated herein or to
such other address as Lender may designate by notice to- Bormwtr as provided herein. Any notice provided for in this
' Mortgage shall be deemed Io have been given to Borrower or Lender when given in the manner designated herein.
IS. Uniform Mortgage; Governing Law: Sevcrability. 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 Note which can be given eQect without the conflicting provision, and to this
end the provisions of the Mortgage and the 'dote are Declared to be severable.
l6. Ilbrmwera Copy. Borrower shall be furnished a conformed cope of the Note and of this Morlgage. at the tithe
of execution or after recordation hereof.
17. ,Trander of the Property; Assumption. If all or any pan 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 subordinatt to
this Mortgage. (b) the creation of a purchase money security interest for household appliances, (e) a transfer by devise,
descent or by operation of law upon the death of ajoint-tenant or (dl the grant of any leasehold interest 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 waived such option to accelerate if, prior to the sale or transfer. Lender
and the person to whom the Property is to be :o1J 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. Tf 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.
Tf 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 hereof.
~ NoN-UNIFORM Covt=Narvrs. Borrower and Lender further covenant and agree as follows:
q li. Acederstbs; Reamedks. E:ceps r provided i. paragraph 17 hereof. npo. iorrowa's breser of ary coteasrl ar
s greetroeat of Iorrower V trb Mortgage. hoclsdiag the covcaawls to pr wren dse asr ssma secsrd by tits Mortgage. i.esder
~ prbr to acccleratbs stall eaN ootke to lorrower as provided le pragrspr 14 terror' speeMriag: p) ere breser: (2) the actiow
j rtigsirsa to cure sacr breast; (3) a date. sot less than 30 dsrs from ere date ere aMke r tarafled to )aw•rower. br wrier steer
_ breach moat 6e nred: sad (I) that tailrrre to c.re s~rcM breach ow or before ere dMe specMea i. the wotke mar r+e:dlt is
accekrMba of ere wms secured br tits Mortgage. torcclossre br jndkisl Proceeding aad aak of ere hoperfr. Tie wotke
srsll frrtrer inform Eorrower of ere right to reinstate ~tcr accelerstba awd ere right b assert i. ere toreciossrt poctediag
ere sos•e:irteace of a defatrM or am otter ddewse of Eorrower to acceleration and foreclowre. N ere breast b sot nred a
or before the dste apecNie~ le ere notice. Lender st Lender's option Saar drebtse aw of ere atrr.a seesred try Iris Mortgage N be
irawedistelr dae and prsble witbotrt tsr/ber demand and mar foreclose iris Morlgage br jndkW proeadbtg. Lender stag
be aititled to coYat d rarer proceeding all a:petrses of foreclosnrr. hxlsdiag. bat toot Iiadtd to, reasonable stt.xner's tea.
sad costs of doe~!neNary eridewee, abstracts sad title report.
19. ¦orrpwd's Rlgrt to Rertutsle. Notwithstanding Lenders acceleration of the sums secured by th~~ Mortgage.
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mortgage discontinued at any time
soai3~ PaCf~~3~,