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Lender i written agreement or applicable law, Borrower shall pay the amount of all mortgage insurance premiums in the
manner provided under paragraph Z hereof. ~ ~ ,,p y,?
Any amounts disbursed by lender pursuant to tha paragra(rt 7; V1d~f interest thereon, shall become additional
indebtedness of Borrower secured by this Mortgage. Unless Borrower and l.cndcr 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 payable Rom time to Time on 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 interat at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or tape
any action hereunder.
s. tas'ectioq, lender may make or cause to be made reasonable entries upon and inspections of the Property. provided
that i.cnder shall give Borrower relict prior to any such inspection specifying reasonable cause therefor related to Lender's
interest in the Property.
9, Cottremaatbw. 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 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, unless Borrower and Fender
otherwise agree in writing, them shall be applied to the sums secured by this Mortgage 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 oRers to make
an award or settle a claim for damages. Borrower fails to res~ond to [.ender within 30 days after 'the daft 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 writing. arty 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 o[
such installments.
I0. l3orrawer Not Released. Extension of the time for payment or modification of amortization of the sums secut+ed
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 Bc.rrower's successors in interest. Lender shall not be tquired to commentx
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 any demand made by the oriRinai Borrower and Borrowers successors in interest.
11. Porbearawce by Lewder 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 taxes or other.liens or charges by Lender shalt not be a waiver of Lender's
right to accelerate the maturity of the indebtedness secured by this Mortgage.
12. Rtwredks Ctuwahfi.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 sucoasively.
13. Swceeseon cad AssiRws lsortwd; Joint cad Seved i.iabAlryr; Captbws. The covenants and .agreements herein
contained shall bind, and the rights hereunder shalt intrr~ 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 joint( and several.
The captions- and headings of the paragraphs of this Mortgage arc for convenience only and are not to tie 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 certified mail addressed to Borrower at
the Property Address or at such other address as Borrower may designate by notice to Tender a: provided herein, and
(b) any notice to Lender shall he given by certified mail. return receipt requested. to Lenders 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 be deemed to have been given to Borrower or Lender when given in the manner desiarrated herein.
1S. Uwiforn MortRr,Re; Goverwiag Law; Severability. This form of mortgage rnmbines uniform covenants for national
use and non-uniform covenants with limited variations by juriuliction 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 Nnte which can be given eQect without the conflicting provisan. and to this •
end the provisions of the Mortgage and the Note arc ~kclared to be severable.
1f. I<orrower's Co'y. Borrower shall be furnished a conformed cop)• of the Note and of this Mortgage at the time
of execution or after recordation hereof.
17. ,Tramfer of the Property: Assnmptiow. If all or any part of the Property or an interest therein a 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 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 (d) the grant of any leasehold interat 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 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 ac Lender
shall rYgnat. 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 Mortgage and the Note.
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance M•ith
paragraph 14 hereof. Such notice shall provide a period of not Tess 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 to hereof.
Not+•Ut+tFOwnt Covetvetvrs. Borrower and Lender further covenant and agree as follows:
1fi. Aceekrriow; Rewredke. Escept ss provided iw Mr'aimN 17 rersot, t+ro¦ >sorrower's rrsaer of coverrMt err
agreeweN of )sorrower V teas Morlga~e, iwel¦diug ere coreaaats to pay wrew dws awy saws stcwrsr b tris Morlgate. Lewder
prior to aceelerwtbw sraw rwaii wotice to Borrower as provided fw paragrwplr 14 rertot spetiffiwgs (t) Ae brsacr; (2) ere setiow
rsgwtrsd b etue wen rracr; (3) w rate. wet tests flow 30 days iww tie date rite wotke 4 waxed ra iarnwer, by wrkr wen
rreacr ttatrrt re etrrs~ atrr (4) trst taBwrr to cwre ttwcr rnacr ow or refers ere date specked i• ere wotke nay rsttril Iw
weeelerwtlaw of ere awwra secured rl' [efts Mortgage. toret:loswre rI' j¦dkW proeetd~wB awl sale et ere >Poperty. 71re uofke
gran twrfrer iwfonw llbrrs?wer d ere right to reiwshte rater aecekratbw swd ere right to asseA h ere toreeiaas p+seee~wg
ere wow•e:Wewce of w re[aw1R or awy outer retewse of Illorrower to sccekratiow swr t~seloswre. H Ire breaer la wof tnrrtr a
or betors ere rate specked t• ere woNce. Lewder at Lender's opbw nay rtcl¦rs a/ of ere wwa seewsr r'!' Mtls MortgttRe t+s k
iwwedialely dae awd pysMe witbotN trw7rer demand and nay toreebat trit Mor1=age ?y jwdkW proceed. Lender sraN
k eMltled to coYeet d steer proetariwg a0 espcoses of foreclowrs, iwclwdiwg. brit wit IWter Ae. reaaowaMe stl.xner's fees.
a¦ti [testa of iou:.werMary e•idewce, abRrsces asad title rsprb.
1!. llierrowa'~ Rfgit to ReiwNate. NMwithstanding Lenders acceleration of the sums secured by tht• Mortgage,
Borrower shall have the right to have any proceedings begun by Lender to enforce this Mongage discontinued at any time
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